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Hexaware Technologies Limited

May 2018

HEXAWARE TECHNOLOGIES LIMITED

May 2018

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Disclaimer

The information contained in this presentation is provided by Hexaware Technologies Limited (the “Company”) to you solely for your reference. This
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not financial, legal, tax or other product advice.

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Presenters

Mr. R Srikrishna Mr. Rajesh Kanani

CEO & ED CFO

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Hexaware at a glance

US$607mm c.13% c.73% US$180 mm c.US$2bn

Revenue CAGR Revenue (US$) Cash conversion1 TCV from new clients Market cap2
CY17 CY14-17 CY17 CY17

33 14,600+ ~81% 300 bps 90%+

Global offices Employees Employee utilization Reduction in Stock return
CY17 attrition CY17 LTM

224 89 >11 yrs 97.3% Zero

Active clients US$1mm+ Clients Relationship with Repeat business Debt Company
1Q CY18 1Q CY18 Top-10 clients CY17

1 Cash conversion defined as Free Cash Flow divided by EBITDA; 2As of May 02, 2018
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Evolution and Key milestones

Launched professional services

group as a vertical
Positioning around “Shrink IT, Grow Digital”
Launched RAISE IT platform
Launched Manufacturing & Consumer vertical
2018
Delivery center in Bucharest
Launched Managed Testing Services
Appointed 8 new leaders
Delivery centers in Atlanta and Virginia

Appointed 4 new leaders Broadening strategy to “Automate

2017 everything, cloudify everything and
transform customer experience”
Baring raised stake in company to 71%
Launched CarrotCube

Launched offerings through SaaS model

Appointed new CEO 2016 Delivery center in Warsaw (Poland)
(R. Srikrishna) and 2
leveraging Cloud Solutions and Mobile Testing other new leaders Appointed 2 new leaders
Solutions
2015 Launched Robotic Process Automation
Won a US$250mm contract Awarded “Excellence in Customer Service”
Won Golden Peacock Award for Excellence in
Corporate Governance
2014

Expanded reach to 20 countries 2013 Legend:

Signed first US$100mm+ contract $607mm

2012 Corporate events
$526mm
Listed on stock 2011 $485mm Financial events
exchanges in India
2010 $422mm
$364mm $388mm New offering launch
2001 $308mm Geographic expansion
1990
$231mm
Leader appointments

Key awards
Company formed

2010 2011 2012 2013 2014 2015 2016 2017

Represents revenue in US$mm (CYE Dec-31)

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Key company highlights

1
IT Services continue to be attractive

2
Hexaware best-positioned to capitalize on industry opportunity

3
Well-entrenched relationships with diverse marquee client base

4
Multiple levers for future growth

5
Strong track record of delivering industry leading growth

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Highly experienced management with strong execution track record

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1 IT Services continue to be attractive

IT Services end-user spending by service type (US$bn) Share of Digital of total IT spend (%)

2022 2016 CAGR (16 – 22E)

Cloud services
102 29.1%
22

BPaaS
62 38.0%
7.8%
40

Consulting
230
7.6%
148

BPO
145
3.9%
115

Infrastructure outsourcing
272
220 3.6% 14.0%

Application maintenance
50
3.4%
41

Software implementation
256
221 2.5%
2017 2025

Support (Hardware/ Software)

91
88 0.6%

Source: Gartner 1Q18 research & NASSCOM Report

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 Hexaware is best-positioned to capitalize on the industry opportunity with its well crafted
2 strategy and automation-led culture
Evolving “Shrink IT, Grow Digital” strategy to deliver higher sustainable future growth

Shrink IT Successfully demonstrated strategy Grow Digital

Automate Cloudify Transform

Everything Everything Customer experience

1 1

2 2

Culture Consistent &

3 superior CX 3

AI / ML Cloud Capability Diverse and

complex technologies

Blockchain Natural language

Long-term sustainable future growth

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 Hexaware is best-positioned to capitalize on the industry opportunity with its well crafted
2 strategy and automation-led culture (cont’d)
Automation-led culture drives consistent success

Automation first Focused Growth Aspirations Cross Skilling

Culture of automation first; Ability to focus on customers Focus on cross-skilling
no fear of cannibalization Only 2-3 new customers per quarter Eg: SDETs

Anti-pyramid Bottom-up Innovation Fostering Culture of

Automation of low skilled activities Culture of bottom-up, David vs. Goliath
Slow rotation of senior consultants client-centric innovation
Chip-on-the-shoulder attitude
Non-FTE based scale

45% of employees participated in bottom-up innovation

Ideas Posted Ideas Implemented Total Cost Saved Total Efforts Saved

2794 1904 c.US$53mm 1.2mm hrs / year

(c.650 FTE)

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3 Well-entrenched relationships with diverse marquee client base

Increasing new $mm+ clients … … with consistently high repeat business… … leading to increasing revenue per client1

$1–5mm $5–10mm $10–20mm $20+mm

Total no. of clients
Repeat business (%) Revenue per client (US$mm)

61 69 78 88
2.8
4 97.0% 97.9% 97.8% 97.3%
2.3
5 6 2.2
4 3 7
5 6 1.8
5
3 7
13
64 71
53
40

2014 2015 2016 2017 2014 2015 2016 2017 2014 2015 2016 2017

of Fortune 500
10 of Top 25 asset
management firms 4 of Top 10 insurance
companies 13 manufacturing &
consumer companies
3 of Top 10
airlines

1 Annual revenue divided by average number of customers billed through quarters

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3 Well-entrenched relationships with diverse marquee client base
Key customer experience metrics Industry scores1
Loyalty Advocacy Satisfaction Value for money High Low
6.24 Loyalty 6.24 5.47
6.25
6.15 Advocacy 6.15 5.42
5.96
6.00 5.91 5.17
5.82 5.84 5.91 Satisfaction
5.85 Value for money 5.85 5.10
5.75 5.69 5.68 5.64
5.53
5.50 5.53
5.55
5.34 5.44
5.25
5.18
5.00
2015 2016 2017 2018

Customer experience grouping Industry scores1

Core Moderate Breakaway Experience index High Low
100 5 6 6
14
11
28 24 66.2 78.5 78.5
75 23 66.4

50 53.0
83 42.2
64 67 69
25

0
2015 2016 2017 2018 IT industry

Hexaware leads the industry in customer experience

Source: Feedback Consulting – 2018

Notes: Industry scores based on 11-12 comparable firms that Feedback Consulting has worked with in the last 18 months
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4 Multiple levers for future growth

A Expansion across services & capabilities B Expansion across geographies C Expansion across verticals

Services to West Coast and Finland, Denmark, Telecom

CMOs Midwest Norway, Switzerland
and Austria

Voice commerce High Tech

Italy, Spain & India

Portugal

Enterprise Services Lifesciences

Australia China, Malaysia,

Cloud Philippines, Japan Core Healthcare

D Inorganic growth –Debt-free balance sheet with significant firepower to pursue inorganic opportunities to expand capabilities

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 Strong track record of delivering industry leading growth
5 Key financial metrics

Revenue EBITDA
Revenue (US$mm) EBITDA (US$mm) EBITDA margin (%)

18% 18% 17% 18%

607 106
526 87 89
485 78
422

2014 2015 2016 2017 2014 2015 2016 2017

Consistent performance driving 13% annual revenue growth EBITDA margins stabilized at high levels

Net income Free Cash Flow

Net Income (US$mm) Net Income margin (%) Free Cash Flow (US$mm)

12% 12% 12% 13%

77
77 69 69
61 62 60
52

2014 2015 2016 2017 2014 2015 2016 2017

Net income margins stabilized at high levels High cash flow conversion of c.73%

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 6 Highly experienced management with strong execution track record

Vijay Iyer Amrinder S Amalesh M Ravi V Aravind K Arun R Eswaran V

Chief Sales Officer - NA Head - Europe Head - APAC Sales Head - BFS Head - M&C Head - PS Head - T&T

Milan Bhatt Sandeep D Rajesh K Ashok Harris Amberin M Krishna K Aparna J

Head - H&I, Head - CX CFO President - Chief People CTO Head -
Cloudify Transformation Global Delivery Officer Marketing

Uma Thomas Senthil N Vidya S Ravi S Gopi S Sastry PKV Subramanyan A

Head - Quality Head - Hexavarsity, ETS Head - GBM Delivery Head - BFS Delivery Head - PS Delivery Head - T&T Delivery Head - M&C

Srinivasan P Vaidyanathan Satyendu M Chinmoy B Vinod C Prasan P Rupesh M

Delivery - H&I, Head - BIBA Head - DA Head - BPS Head - IMS Head - ES Head - DC
Head - ADM
16 Represents new leaders appointed
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