COFORGE Q2 CONCALL : FY27 EBIT MARGIN GUIDANCE RAISED TO 16%, Q4 TARGET AT 17% & RECORD $1 BILLION+ ORDER INTAKE

• FY27 CONSOLIDATED EBIT MARGIN GUIDANCE UPGRADED TO 16% FROM EARLIER 15.5% • MANAGEMENT TARGETS 17% EBIT MARGIN IN Q4 FY27 & AT LEAST 17% IN FY28 • FY27 EBITDA MARGIN GUIDANCE MAINTAINED AT 20.5–21% • RECORD ORDER INTAKE CROSSED $1 BILLION, UP 51% QOQ & 102% YOY • COMPANY SIGNED 8 LARGE DEALS IN Q2, WITH MANAGEMENT TARGETING 8 OR MORE DEALS IN Q3 • NEXT 12-MONTH EXECUTABLE ORDER BOOK REACHED $2.4 BILLION, UP 45% YOY • ENCORA REVENUE GROWTH EXPECTED TO MATCH COFORGE'S ORGANIC GROWTH FROM Q3 FY27 • MANAGEMENT CONFIDENT OF COMPARABLE ENCORA GROWTH MOMENTUM IN FY28 • LARGEST POTENTIAL DEAL IN PIPELINE LINKED TO AN ENCORA CLIENT, WITH POSSIBLE ANNOUNCEMENT IN Q3 OR Q4 • AI-LED AUTOMATION EXPECTED TO DELIVER MATERIAL GROSS MARGIN IMPROVEMENT FROM Q4 FY27 • Q4 FY27 EPS EXPECTED AROUND ₹19–20, SUPPORTED BY HIGHER MARGINS & LOWER EXCEPTIONAL COSTS • HEDGE LOSSES EXPECTED TO DECLINE TO APPROXIMATELY $1.2 MILLION IN Q4 VS $10.2 MILLION IN Q2 • MANAGEMENT EXPECTS ZERO EXCEPTIONAL EXPENSES IN Q3 FY27 • FY27 FREE CASH FLOW TO PAT CONVERSION TARGETED AT 100% VS 92% IN H1 • AI-LED PRICING PRESSURE, ENCORA INTEGRATION, WEAK HEALTHCARE & HIGH-TECH DEMAND AND LARGE DEAL EXECUTION REMAIN KEY RISKS

COFORGE LIMITED

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