INVESTOR

PRESENTATIO
N Q2 FY19

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Enable Customers to reimagine their Digital Future by shifting anything to Cloud
and power everything with Cognitive

Customer
First

Front2BackTM
Modernizatio
n
Anything Cognitive
to Everything
Cloud

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 Mphasis at a Glance
Key Facts Global Delivery Footprint and Sales Coverage
• Incorporated in 1992 Headcount of 22,888*
• Marquee clients including largest bank and insurance companies in
North America, largest publicly traded Invest. Services firm, largest UK Netherlands
logistics provider and largest commercial RE player Canada
Poland
• 52.4% owned by Blackstone*, a Global Private Equity firm USA Ireland Germany
Belgium China Japan
Switzerland
France
Financial Strength India
Singapore
Market Cap * Revenue ^ Cash *
$3.05 $1,060 $346 Australia
billion million million New Zealand

Geographical Split of Revenue # Deep domain expertise in BFSI # 68% of Revenue from Direct International #

4% Direct
26% Others
India & RoW revenue 57
primarily from %
80 DXC/HP
European and
% 46% Channel
3% American Strategic
Customers with billing
6% entities abroad.
28% Direct
17 Core
11% Product 55%
%
11% 3% Direct International
Americas EMEA India RoW BCM Insurance ITC Emerging Portfoli 68%
Digital
o 10%
* As of 30 Sep 2018
th
# Quarter ended 30th Sep 2018 ^ trailing 12 E Risk
months

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 Mphasis Turn Around Story

280 275.
+3.7
27 % 268.7 6
265. 264.
0 3 259.
260 1
7 256.
0 249.8 - 251.
25 1.4% 6
0 242.
239.
240 237.0 3
5 234.
5 229. 230.9
23 226. 228.
0 225. 224. 224. 223.
0 5 2 221.
3 5 1 5
22 5
0

210

Q Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
3 Q2
’13 Revenue
Company ’13 in USD
’14*
$M ’15 ’15 ’15 ’15 ’16 ’16 ’16 ’16 ’17 ’17 ’17 ’17 ’18 ’18 ’18 ’18 ’19 ’19
(gross)

* Transition Year 5 months adj.

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 Performance Highlights

Performance vs Index1 Consistent track record of growth3

Total Returns to Shareholders in last 12 months 275.
(%)2
6
+82.9%
268.7

264.
+51.2%
1

+11.7%

251.
6

Q3’1 Q4’1 Q1’1 Q2’1

NIFTY NIFT Mphasi 8 8 9 9
IT Y s YoY +12.6 +19.2 +16.4% +13.7
% % % %

1. Indexed to 100 - As of 09/29/2017

2. Includes Dividend and Buyback; As of 09/28/2018 3. Overall Gross revenue – $
Mn

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 Corporate Strategy : Bring the “T” back
into IT
‘Inverted T’ GTM Plays Customer Segments

Vertical Play
Front 2 Back
Transformation (F2B) 1. Strategic
Customers
Wealth Management

Emerging Verticals…

Service Transformation 2. HP/DXC

Insurance

(ST) Technology Focus Geographies:

Insurance
Banking

• Americas
Retail

Health

• Europe
3. Blackstone
Powered by Portfolio
Cloud & Cloud Services
Cognitive
4. New Client
Horizontal Play Acquisition
Cloud
Cognitive Traditional Services
Digital CX
Traditional

Global Account Delivery Leadership Onsite to engage with Clients

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 Core Investment Thesis

1 Accelerate Direct Core - Continue to outgrow the market with a three pronged
approach –
 Farming Strategic Accounts
 Blackstone Portfolio Opportunity
 Focused Strategy for New Logos
2 Strategic Partnership with DXC/HP – Transformed relationship with four growth
 engines

3 Continued focus on Margin Expansion to fuel

 Growth

4 Strong Management team backed by an experienced

 Board

5 Strong Cash-flow Generation and Optimal Cash Strategy to maximize shareholder

value

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 1 Accelerate Direct Core : Track record of Growth driven by New Generation Services
Strong Direct Core Revenues Supported by significant wins in NewGen

Overall +18.5%
CAGR 34,73 36
+13 32,156 2 2
28,79 % 306 82
24,14 5 56
Traditiona
3 l
Traditiona
l New-Gen
CAGR 250 280
+44
New-Gen % New-Gen

FY1 FY1 FY1 FY1 H1 H1

5 6 7 8 FY18 FY19
% New- 19% 29% 32% 40% New TCV won ($ Mn)
Gen

New-Generation Services contributed to 83% of total deal wins (TCV) in FY18 and 40% of Revenues in FY18

New-Generation Services contributed 45% of Direct Core revenues in H1 FY19 representing a YoY growth of
51%
Note: Direct Core constituted 78% of Direct International Revenue (and 55% of Mphasis Revenue) in FY18

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 1 Accelerate Direct Core : The Secret Sauce Fueling the Engine
Domain Strength built by… … years of working with Marquee Customers

Consumer Banking & 10Tenure Customer

Strategic Accounts: Relationship 11/16 strategic clients are from BFSI industry
verticals
Non-BFSI base include many
20% Mortgag • Select chosen sub-
Vertical 27% e leaders:
 Largest Bank in North America
s verticals within the
 Largest Insurance Company in North
BFSI sector
5 America
17% Wealth • Invested in domain  Largest publicly traded Invest. Services Firm
Management experts with deep 1  Largest Logistics Provider
Other 25% industry  Largest Commercial RE player
10% Well entrenched across multiple business
BFSI P&C expertise
in chosen lines
areas 0-5 5-10 10+
Insurance at customers
yrs yrs yrs
Go-to-Market optimized for catching Deals Proactive Customer
Upstream Early Engagement sales process
• Institutionalized Management
• Onsite Global Delivery Account Leader (GDAL) works proactively with
• Robust account planning for selecting early engagement areas the customer to address issues in real time
based on spend, competition and ability to win • Service Delivery Excellence and CSAT focus

19% Account Ranking

38% Traditiona
Large North American Bank #1
81% l New
62% Leading Investment Services Firm #1
Gen
Global Logistics Co. #1
FY17 FY18
Majority of proactive wins are in New-Gen
areas
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1 Accelerate Direct Core : Focused Strategy for New Logo Wins

Wealth Property Governance

Consume
Management and , Risk and
Identified Targets r
and Casualty Compliance
in select BFSI Banking
Brokerage Insurance
Micro-verticals
Investmen Mortgag Cards &
Life Insurance
t e Payment
Banking Banking s

Digital Technology
Horizontal Services
Capabilities with a Automation Led Ops Transformation
focus on Cloud Clou Cognitive
d Classic AMS Transformation
and Cognitive
Next Generation Infrastructure

Focus on
select USA UK Europe
Geographies

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1 Accelerate Direct Core : Mphasis X2C2 TM - Cloud and Cognitive
Cloud
Services
• Cloud CoE – Investing in building IP / Accelerators
• End to end Services - incl Cloud Consulting, Cloud
Migration (re-host, re-factor, re-purchase), Cloud
Native App Dev, DevOps, Cloud Ops
• Strong Cloud Partnership Network – Pivotal
• Setting up a Pivotal Lab to build skillset for
next generation cloud services
• Case Study 1 - One of the Largest
Brokerage Firms
• Application development and migration using
Pivotal Cloud Foundry; development of leading
Robo Advisor
• Case Study 2 - Largest Retail Banks in the US
• Successfully transitioned middleware into micro
services,
enabling a faster front end at a lower cost
• Case Study 3 - A Step towards Zero UI
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Cognitive
Computing
• Digital Partner of Choice of 5 Fortune 500 Companies
• One of the first applications on Apple Pay
• First to introduce Semantic technology to a Large NA
bank
• Pioneer of integrating Natural Language Interaction with
Salesforce.com
• Set up
NextLabs
• Next Angles – AI and NLP based GRC Automation platform
• Deep Insights - Cognitive computing platform, which
transforms enterprise decision by depth analysis of structured
and unstructured data sources
• Infragenie - Intelligent infrastructure automation platform
that predicts, diagnoses and resolves infrastructure issues
• Hypergraph - Actionable insights by bridging the gap
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11
enterprise data and external data
1 Accelerate Direct Core : Mphasis X2C2 TM - Front to Back Transformation

Engagement Intelligence Core

Layer Layer Systems
UX Cognitiv
e
Socia Data &
Microservices Core
l Analytic
Appification s System
Business & s

Any Policy
Knowledge and
Customers / Device Process & APIs
Stakeholder NL Enterprise
P Context
s KPI Driven UI Sentiment

2
Mphasis X2C - Powered by Cloud &
TM

Cognitive
• Right sized transformations delivering chunks of business value in a timely manner Traditional
• Best way to introduce disruptive technology (X2C2) to legacy environments Y1 Y2 Y3 Y4

• Reference architecture based transformation: leverages technology from previous iterations to F2B
reduce marginal cost of implementation Q1 Q2 Q3. Q4

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1 Accelerate Direct Core : Mphasis X2C2 TM - Key Levers and Benefits
Holistic 5D approach Integrated Mphasis X2C2 TM Benefits

CLOUD
NATIVE Mphasis X2C2 TM
› DevOps & Agile

Business
Enablement
CLOUD COGNITIVE Traditional

Value
› Pivotal Based
MIGRATIO App APPLICATION transformatio
Development n methods
N S
› Data Center Migration
› Automated › Design
›Migration
Portfolio Thinking
Transformatio › Smart Transformation

2
n Applications
› Cloud Ops BACK Scope
FRONT
TRANSFORM
› Deep Learning & Cloud Migration Cloud & Cognitive Pre Integrated
Advanced Analytics Reference Lab Transformation Cognitive
COGNITIVE CLOUD Modeling
› Decision Architecture Scope Platform
AUTOMATION INTEGRATIO
N Advanced Design
› Robotic CX Analytics Framework
Level Thinking
Process › Secure iPaaS Partnerships Methodology
Automation Implementation
Large
› Ops IT › Cloud integration DevOps Analyzer Customer 360 Platform
Implementation
Automation Gateway Experience
Cognitive Capability as a Encoded Domain
Smart App Framework
Service Architecture Knowledge Models

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 2 Strategic Partnership with DXC/HP: Transformed Relationship with four Growth Engines
A series of corporate actions have resulted in
creation of four new entities -
Hewlett-Packard
Company

Oct 2014 (Nov 2015)

Mar (Apr Sep 2016 (Q3

2016 2017) 2017)
Enterprise Enterprise Group Non- Core
Services Business and Core Software Software Assets

HP Inc.
Revenue $25 $28 $3.2 $52
: bn bn bn bn
Mphasis DXC/HP 89% 3
Channel Revenue 8% %
Contribution: Mphasis is a preferred supplier to each of these four entities

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 2 Strategic Partnership with DXC/HP: Apps Migration to Cloud
May 25th 2017: DXC Technology (NYSE: DXC) has named Mphasis as a new Solution Partner to transform and modernize enterprise
applications for public, private and hybrid cloud.

Focus Verticals Focus Geographies Offerings

• Front2BackTM Modernization
• Banking and Financial Services • North America
• Applications to Cloud
• Insurance • UK
• Cloud Native Apps

Client Benefits Why Mphasis and DXC?

 Faster Transformations: Rapidly capture untapped value of the
cloud for mission critical and high value applications
 Lower Costs: Offer lower cost consumption-based models and
automation to reduce the cost of legacy IT
 Right Skills: Access to the next generation of IT skills and innovative
capabilities
 Joint GTM track record: 10 year relationship with the Enterprise
Services business marked by successful joint wins in the market.
 Impeccable Delivery: Mphasis has a NPS of 85
 Next Gen Offerings:
• X2C2 TM, iADMS™, Front2Back™ Modernization

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3 Action plan to drive Margin Expansion to fuel Growth
Concrete steps executed... …delivering a track record of Margin Expansion1
Operating Margin
• Divestment of Domestic BPO business 16.5
(EBIT %)
• 15.1 %
Stabilization and offshoring to improve margins for Digital 14.6%
13.3% %
Risk
12.8% Consistent improvement
• Margin expansion through Improvements in various
in Operating Margin
• Restructured
operating levers people supply
profile
chain
• Increased pricing power
• Business model shift
FY15 FY16
FY1 FY1 H1
7 8 FY19
“Digital Factory of the Future” – ensure stable margins while funding growth …
• Establish best-in-class scalable delivery and operations by installing and operationalizing key medium-long term enablers (people supply
chain)
• Focus on structural savings – inefficiencies taken out stay out; implementation support and Results Delivery Office

Pyramid Optimization Commercial Model Automation

Key Levers:
Strategic Shoring People Supply Chain Tail Account Rationalization

Margin improvements and cost savings at each level, along with an increasing trend of non-linear
revenues
(1) FY15 based on Indian GAAP; FY16 based on special purpose Ind-AS, FY17 & FY18 are based on Ind-AS

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4 Strong Management

Infused new talent across levels

1•

 Executive Committee

 Senior Leader positions

Regional Sr Leaders in Focus Markets

2 Strong Board

3 Support from BX
Ecosystem

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5 Strong Cash flow Generation and Optimal Cash Strategy to maximize shareholder value
Strong growth in EPS Track record of healthy Dividends…
EPS after exceptional items Dividend Payout (DPS including tax / EPS before exceptional
(INR) 42. 27.4 items)
37. 60
7 70% 56%
32.1 30.1 7 % 53%

FY1 FY1 FY1 FY1 H1 FY15 FY16 FY17 FY1

5 6 7 8 FY19 • Announced share buy-back worth Rs 9,883 Mn in Q1 8
-6.3% 13.5% 41.9%
FY19
YoY % 25.3% • Completed share buy-back worth Rs 11,030 Mn in FY18
Consistent free cash flow One of Industry leading FCF/EBITDA
generation conversion
Free cash flow ($ million) 92 Free cash flow (FCF)/Adj. EBITDA
11 13
112 109 1 68% 72 70
5 % 59% %

FY1 FY1 FY1 FY1 H1 FY1 FY1 FY1 FY1

5 6 7 8 FY19 5 6 7 8

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 Core Investment Thesis: Execution update Summary – H1 FY19
Accelerate Direct  Strong growth of 14.5% YoY in Constant Currency
1
Core  Farming Strategic Accounts  Continued momentum in Deal wins: $362M TCV; New-Gen Services at 77%
 Blackstone Portfolio  Broad based growth from Strategic Accounts; BX portfolio and New Accounts
Opportunity

 Continued Strong growth momentum from FY’18; YoY constant currency

2 Strategic Partnership with DXC/HP growth
of 24.1%
 Good deal traction in Cloud Partnership; Won significant transformation deals

3 Continued focus on Margin Expansion to  Delivered EBIT of 16.5% in H1 FY19; Continued improvement in operating levers
fuel Growth  Expect to operate in EBIT of 15%-17% band

 Strong Management team backed by  Management augmenting Cloud and Cognitive capabilities to deliver Service
4
an Transformation and Front-2-Back Modernization
experienced Board

 Strong free cash flow generation of $92 Mn in H1 FY19; Q2 FY19 Cash Balance
5 Strong Cashflow Generation and Optimal of
Cash Strategy to maximize shareholder $346 Mn (after dividend payout of $66 Mn)
value  Announced share purchase program for Rs 9,883 Mn at maximum share price
of Rs 1,350 in Q1 FY19
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 Why Are We Different?

T
W
I
T
C • T-Shaped Solution Strategy –
Domain depth + Breadth of Tech -

H •
2C powered
Tier 1 capabilities in BFSI
• Front2BackTM Modernization
• X2C2TM
• Focus & Specialization
• Data Center of the Future is an
Empty
RoomTM
• N=1 Hyper personalization
using HyperCloud
• Consistently Rated #1 or #2 by
Customers

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 Recap: Core Investment Thesis

THANK
YOU
Email: Investor.Relations@mphasis.com

About Mphasis
Mphasis (BSE: 526299; NSE: MPHASIS) enables customers to reimagine their digital future by applying a unique formula of integrated cloud and cognitive technology. Mphasis X2C2 TM
formula for success, (shift anything to cloud and power everything with cognitive), drives five dimensions of business value with an integrated consumer-centric Front to Back Digital
Transformation, enabling Business Operations and Technology Transformation. Mphasis applies advancements in cognitive and cloud to traditional application and infrastructure
services to bring much needed efficiency and cost effectiveness. Mphasis’ core reference architectures and tools, combined with domain expertise and hyper specialization are the
foundation for building strong relationships with marquee customers.

Important Confidentiality Notice

This document is the property of, and is proprietary to Mphasis, and identified as “Confidential”. Those parties to whom it is distributed shall exercise the same degree of custody and
care afforded their own such information. It is not to be disclosed, in whole or in part to any third parties, without the express written authorization of Mphasis. It is not to be
duplicated or used, in whole or in part, for any purpose other than the evaluation of, and response to, Mphasis’ proposal or bid, or the performance and execution of a contract
awarded to Mphasis. This document will be returned to Mphasis upon request.

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 Strong Leadership Team

Nitin
Rakesh
CEO

Dinesh 10 yrs in Sundar Joined in 12 yrs in

Mphasis and in October 2017 Elango Mphasis and in
Venugopa Subramania R
ExCo ExCo
l n
• President, Mphasis Digital & Direct Core • President, Global • President, HP Business
GTM Delivery Unit

Puneet 17 yrs in Joined in October

Eric Winston 2017
Mphasis 8 yrs
Bhiran in ExCo
• CEO, Digital
i • EVP, General Counsel and
Risk Chief Ethics & Compliance Officer

9 yrs in Srikant
Suryanarayanan
Mphasis Joined in May
h 2017
4 yrs in ExCo Karra
• Chief Human Resource
• Chief Financial Officer Officer

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 Experienced Board

Davinder Singh Brar Nitin Rakesh N Kumar

Chairman, Independent Director
Promoter of GVK Biosciences
Formerly Director of the Reserve Bank
of
India (RBI)
CEO and Director Independent Director
Vice Chairman of the Sanmar Group,
CEO and Director at Mphasis a multinational conglomerate
Previously CEO and President of Honorary Consul General of Greece
in Chennai
Syntel

Jan Kathleen Hier David Lawrence Johnson Marshall Lux

Independent Director
Formerly Executive VP at Charles
Schwab Served as VP Engineering at
Transaction Technology, a Citicorp
subsidiary
Director Director
Financial Services consultant and
Senior Advisor at Blackstone based in
practitioner for over 30 years
New York
On the board/ advisory council of
Formerly Senior VP of Strategy at Dell
various PEs across industries and
geographies

Paul James Upchurch Amit Dixit Amit Dalmia

Director Director Director
Managing Director in the Private Equity
Senior Managing Director and Head
Executive Director at Blackstone group in India for Blackstone
of Private Equity in India for
Formerly an Executive VP at Nielsen Formerly served various
Blackstone Formerly a Principal at
management roles at Hindustan
Warburg Pincus Unilever India

Blackstone Independent Directors

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