INFOSYS Q2 CONCALL : FY27 REVENUE GUIDANCE CUT TO 1–2%, AI REVENUE UP 29% QOQ & RECORD $5.2 BILLION LARGE DEAL WINS

• FY27 CONSTANT CURRENCY REVENUE GROWTH GUIDANCE CUT TO 1–2% FROM EARLIER 1.5–3% • FY27 OPERATING MARGIN GUIDANCE MAINTAINED AT 20–22% • Q2 OPERATING MARGIN STABLE AT 21%, SUPPORTED BY COST OPTIMIZATION • AI REVENUE UP 29% QOQ, WITH CONTRIBUTION RISING TO 10.5% FROM 8.2% IN Q1 • RECORD LARGE DEAL WINS OF $5.2 BILLION IN Q2, INCLUDING TWO MEGA DEALS • SECURED 7-YEAR NET-NEW MEGA DEAL WORTH OVER $2 BILLION & ANOTHER $1 BILLION RENEWAL • $2 BILLION+ MEGA DEAL EXPECTED TO START RAMPING UP FROM LATE Q4 FY27 • MANAGEMENT EXPECTS MEGA DEAL TO CONTRIBUTE OVER 1 PERCENTAGE POINT TO FY28 REVENUE GROWTH • FINANCIAL SERVICES, ENERGY, UTILITIES & MANUFACTURING CONTINUE TO SHOW HEALTHY DEMAND • RETAIL, HIGH-TECH & NORTH AMERICAN DISCRETIONARY SPENDING REMAIN WEAK • FY27 GRADUATE HIRING TARGET MAINTAINED AT APPROXIMATELY 20,000 • MANAGEMENT TARGETING 6,000 FORWARD-DEPLOYED ENGINEERS OVER MULTIPLE YEARS TO SUPPORT AI EXPANSION • AI CYBERSECURITY, TOPAZ FABRIC & AI-ENABLED GCC SERVICES IDENTIFIED AS KEY GROWTH OPPORTUNITIES • COMPANY INTENDS TO RETURN 85% OF CUMULATIVE FREE CASH FLOW TO SHAREHOLDERS OVER FIVE YEARS THROUGH DIVIDENDS & BUYBACKS • H2 WAGE HIKES, COMPETITIVE PRICING, AI-DRIVEN REVENUE COMPRESSION & WEAK CLIENT SPENDING REMAIN KEY RISKS

INFOSYS LIMITED

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