Cigniti Technologies Ltd

Led by Dedicated Promoters & Managed by Professional Leadership TeamC V Subramanyam, Chairman and Managing DirectorSrikanth Chakkilam, Chief Executive Officer, Cigniti Technologies Inc. In 1998, Mr. Subramanyam founded Chakkilam Infotech Pvt. Ltd. as an ITservices company providing IT solutions Successfully took the company public in 2004 Holds a Bachelors in Commerce and Law and Post Graduate Diploma inBusiness Management Drives client acquisition strategies, provides oversight to Sales, sets businesstargets, and maintains the P&L and related activities Key decision maker in the vision and growth of Cigniti & plays a vital role inevaluating, analyzing & deciding Cigniti’s pursuits related to inorganic growth Focused to build a highly successful, impactful and ethical business in all forms Has an MS from the University of Southern CaliforniaKrishnan VenkatacharyCFOVinay RawatCRO Krishnan brings to Cigniti over 25 years of experiencespanning global financial operations. Is a qualifiedACA, ACS and FCMA. Previous experience: Yashoda Hospitals, FlagstoneUnderwriting Support Services, VisualSoftTechnologies, Baan Info Systems. Vinay is responsible for driving strategy andexponential revenue growth for the organization.Extensive experience in managing sales, businessdevelopment, demand creation, marketing &operations. Previous experience: Senior leadership roles atInfoGain & Wipro.Nanda PadmarajuPresident – ROW Nanda heads sales for the UK and EU regions.Brings in more than 18 years of global ITexpertise along with strong financial acumen. Previous experience: AppLabs, SatyamComputer, IBM & Sharp Protech. Oversee planning & execution of strategic marketingprograms. 23 years of experience with a deepunderstanding of technologies & solutions. Previous experience: Innominds, Kore.AI, Pramati,Apere (now Citrix), CA Technologies & HCL.Jagdish KumarSVP – ICTRaghu KrovvidyPresident – Delivery, Process & ESG Raghu manages Global Delivery on a day to daybasis across all GEOs and verticals for Cigniti. Previous experience: 20 years. Accenture, AppLabs,IRIS Digital & NIIT.Sairam VedamCMO Jagdish heads ICT function at Cigniti. Over 25 yearsof experience in various global roles spanning ITStrategy & others. Previous experience: JDA, OpenText, BaaN, HCL.Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti TechnologiesVeera ReddyVP – Human Resources Veera is responsible for employee life cycle events,talent management, employee relations,performance management, Diversity & inclusion andcultural transformation. An Air Force veteran, experienced HR Leader withover 18 years of experience. He also worked withGenpact and Wipro.18

Cigniti Growth Strategy Focus on High spending domains with more focus on Fortune 500 and other Large accounts Build strong differentiation through investment in proprietary AI-powered Testing Platform such as BlueSwan; invest in Domain Competency Groups; and build a breed of high-qualitycareer testers passionate and better-than-peer group in competence Build superior sales engine. Leverage experience of some of the best sales and operations people in the global software industry to Hunt and Mine large global accounts Significantly raise Brand Cigniti awareness in Quality Engineering and Testing world through having Patents, participation in high visibility industry forums, publication of White Papersand delivering superior business value for clients Run critical Lab / R&D functions for clients offshore and build for higher client value and better eventual wallet share Build Partnership with diverse, leading technology / AI / Tools players and offer more rounded solutions to Cigniti client baseOffshore Revenue (in Mn)2821.98231813812.6112.84 13.2813.56 14.52 13.27 14.27 14.4715.2917.5722.4220.73FY19 FY20 FY20 FY20 FY20 FY21 FY21 FY21 FY21 FY22 FY22 FY22 FY22Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q452%50%48%46%44%42%40%38%Offshore Revenue %48%43%43%43%44%43%44%45% 45%47%48%50%49%50%49%FY19 FY19 FY19 FY20 FY20 FY20 FY20 FY21 FY21 FY21 FY21 FY22 FY22 FY22 FY22Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies19

On Path to a Long Term Sustainable GrowthEBITDA %10%EBITDAThe IP led approach to Software Testing Services will establish the Cignitibrand, bring product differentiation and ensure recurring revenuesRevenue (INR Mn)Strong growth of 2016 Accounts into Multi-Million Dollar Accountscompensating for revenues lost after removal of low margin customersOwing to Customer Portfolio overhaul, the low and negative margincustomers were removed and high margin ones were ,330 2,184 2,212 2,239 2,3302,076 2,146 2,1672,6443,4413,079 3,254Irrecoverable non-current assets written off thereby improvingbusiness efficiency and asset utilization667 727Total Non-Current assetsAll values are in INR Million1624,284 5,5633,6931,411,1061,037 42,3481,71427 31Total Current assetsFY 2018Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti TechnologiesFY 2019115 123FY 2020Depreciation expenseFY 2021FY 202220

Diversified Client base Leading to Better StabilityRevenue by Verticals Q4 FY2213%4%Revenue by Regions Q4 FY22UKEU8%Retail & %Travel, Hospitality, Transport & Entertainment12%APAC4%ANZ3%Healthcare20%Energy and UtilitiesThe revenue concentration in top accounts has decreased significantly from FY18 to FY22, implying higher revenue stability in future% Revenue Concentration FY22% Revenue Concentration Q4 FY22Top clientTop client6%Top 5Top 522%Top 10Top 2020%30%40%50%32%Top 2048%10%21%Top 1034%0%6%60%46%0%10%Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies20%30%40%50%21

Marquee Clients Across Industry VerticalsIn high-spend Industry verticals, Cigniti has marquee clients.Diversified revenue profile across industry verticals VerticalsKey ClientsBFSI14%19%16%Healthcare &Life SciencesFY 2021-2215%20%12%5%BFSIEnergy and UtilitiesISVRetail & e-CommerceOthersHCLSTravel, Transport, Hospitality & EntertainmentEnergy&UtilitiesTravel &HospitalityMedia &TechnologyRetail &e-commerceStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies22

Revenue Growth Driven by Geographic Diversification in Targeted Verticals Strategic risk management decision to diversify geographical revenues by growing Europe and RoWImpressive account wins in Large UK accounts in BFSI, Transportation and Life Sciences verticalsRevenue by Geography (INR %Revenue Contribution2021-22INR inMn.in %6886%Top 52,65021%Top 104,01332%Top 205,73146%Top Client9% 8%201811%5%11%4%20192020NAUKEU7% 4%20218% 7%2022RoWStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies23

BlueSwan: Cigniti’s Proprietary IP - AI driven solutions for Digital EnterprisesVeritaBlueSwan: Delivering Quality@SpeedQuality Engineering Platform and Dashboard with Predict CapabilitiesVelocitaTest Automation Accelerator for desktop, web, mobile, COTS, ERP andDigital ApplicationsCestaWorld’s first integrated test asset Migration platform consisting ofQuickLean, Migrate2Selenium & M2TC tools to migrate HP QFT/UFT toLeanFT, Selenium and TestCompletePraxiaProcess accelerator platform to transform existing end-to-end SDLCpractices practices by assessing processes, practices, tools, skills & risksCESACigniti Enterprise Sentiment Analyzer (CESA) identifies and categorizesfeedback expressed by end-users to determine (objective andsubjective) usability from a product and service quality perspectiveiNStaCigniti’s AI-based scriptless test automation platform – iNSta – enablesbuilding of production grade test automation suites. It provides a testdesign studio that aids reusable test asset development.DigitalEnterprisesIntelligenceAgile60 Fortune 500clients nExpertise2 Patents granted, 1 patent pending with USPTO.Cigniti’s 5G-ready Digital Experience Assurance solutionStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies24

IP, Patents and Trademarks - A Key Differentiator Cigniti is differentiated through strong focus on IP creation, R&D & focus on Next-Gen Automation platform30 Global Enterprises use BlueSwan to accelerate their Digital transformation journeys.Cigniti has built 6 World class Quality Engineering Labs for Mobile, Performance, Medical Devices, Smart meters, IoT & Robotics.1New Patent filedSmart Remediation Engine (Cesta) :Model Based Testing Tool Migration2New Trademarks inprogressBlueSwan and ATS frameworks(Prudentia) :Test Tool Migration Pipeline (Cesta):Migration of assets from any automation toolas a source to another automation tool astargetUS Patent Application No : 14/680,132dated 07-04-2014 Titled : “System andMethod for Converting the BusinessProcess to Test-Centric ActivityDiagrams :Our Ref : NP/96Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies25

Strategic Actions taken by Cigniti for Sustained Value CreationSteps taken to improved ROIC through efficient operations and steeper growth High margin services and customersImproved operational efficiencyExpansion of Accounts (Land & Expand)Obtained commercial line at overseas location at competitive rate.Pre-closure of long term debtFocus on digital offerings: BlueSwan and Augmenting capabilities with AISignificantly enhanced CESA (Cigniti Enterprise Sentiment Analyser)Steps taken Average Yield per Sales person improvedImplemented Enterprise Farming Strategy to further enhance growth within existing accountsImplementing Strategic Lead generation engine comprising of Podcasts, CXO Breakfasts and Meetups.Investing in building deeper relationships with Deal Advisory firms.Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies26

Cigniti’s Financial Performance - Strong TurnaroundFY'19 Q1 FY'19 Q2 FY'19 Q3 FY'19 Q4 FY'20 Q1 FY'20 Q2 FY'20 Q3 FY'20 Q4 FY'21 Q1 FY'21 Q2 FY'21 Q3 evenue from 2,1842,2122,2392,3302,6443,0793,2543,441Revenue Gr. QoQ 1.30%1.20%4%13.40%16.50%5.70%5.75%Employee benefit 111,2321,3321,3411,6561,8071,9292,001Finance costs38362745211920201616121211121315Depreciation & Amort.7798292928303030313133374349Other 9211113Total 8701,8161,9632,0412,4452,8092,9063,178Exceptional 5360442319333243319404327% ExpensesAll values are in INR MillionStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies27

Financial Highlights Q4 FY22- YRevenue from operations3,4413,2542,3305.7%47.7%Revenue from operations ( M)46.3043.8630.75Employee benefit expense2,0011,9291,3413.7%49.2%Other 1.5%% %IncomeExpensesDepreciation & Amortization49EBIT278Other Income(Expense)20-53-500.0%566.7%Finance Income33181683.3%106.3%Finance x909656-6.3%60.7%PAT150265238-43.4%-37.0%EPS (Basic)8.069.478.82TAll values are in INR MillionStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies28

Consolidated Income StatementsParticularsFY 22FY 21Y-o-Y12,4188,96538.5%164118Employee benefit expense7,3935,21641.7%Other expenses3,7332,29562.7%EBITDA1,2921,454-11.1%% EBITDA10.4%16.2%IncomeRevenue from operationsRevenue from operations ( M)ExpensesDepreciation & AmortizationEBIT162T 1,13012331.7%1,331-15.1%Other Income(Expense)0.8236-97.7%Finance Income1349935.4%Finance AT9171,053-12.9%32.7237.77EPS (Basic)All values are in INR MillionStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies29

Consolidated Balance SheetParticularsProperty Plant & equipmentRight-to-use assetGoodwillCapital WIPOther intangible assetsFinancial assetsInvestmentLoansOther non-financial assetsDeferred tax assets netOther non current assetsSub 31,037ParticularsEquity & LiabilitiesEquity share capitalOther equitySub totalAll values are in INR -current liabilitiesFinancial liabilitiesLease ObligationBorrowingsLong term provisionsDeferred tax liabilitySub totalCurrent assetsFinancial assetsInvestmentLoansTrade receivablesCash and cash equivalentOther Bank balancesOther current financial assetsCurrent tax assets net12012,2682459096931280461,5772561,02346626Other current assetsSub otal6,9775,321TotalCurrent liabilitiesFinancial liabilitiesShort term borrowingsTrade payablesLease ObligationOther current financial liabilitiesShort term provisionsCurrent tax liability, netOther current liabilitiesStay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies30

Cashflow Generation FY22 vs. FY21Cash Generation Cash and cash equivalents (including fixeddeposits) at a healthy levels of 1,271 Mn. Company has invested in Mutual Funds, NCDsand Bonds to the tune of 1,201 Mn. FCF generated during FY22 is lower compared tothe FCF generated in the FY 21 due to enhancedinvestments in sales and development. The company is optimistic that it shall be able toeven out cost with various optimizationmeasures it has initiated and coupled withvolume growth in the coming years.Stay Digital, Stay Aheadwww.cigniti.com Unsolicited Distribution is Restricted. Copyright @ 2022, Cigniti Technologies31

DisclaimerThis presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by Cigniti Technologies Ltd. (also referred to as ‘Company’). Byattending a meeting where this presentation is made, or by reading this presentation material, you agree to be bound by following limitations:The information in this presentation has been prepared for use in presentations by Company for information purposes only and does not constitute, or should be regarded as, or form part of any offer, invitation, inducement oradvertisement to sell or issue, or any solicitation or any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, including the United States and India, nor shall it, or the fact of its distribution form thebasis of, or be relied on in connection with, any investment decision or any contract or commitment to purchase or subscribe for any securities of the Company in any jurisdiction, including the United States and India. Thispresentation does not constitute a recommendation by the Company or any other party to sell or buy any securities of the Company.This presentation and its contents are not and should not be construed as a prospectus or an offer document, including as defined under the Companies Act, 2013, to the extent notified and in force) or an offer document underthe Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended).This presentation and its contents are strictly confidential to the recipient and should not be further distributed, re-transmitted, published or reproduced, in whole or in part, or disclosed by recipients directly or indirectly to anyother person or press, for any purposes. In particular, this presentation is not for publication or distribution or release in any country where such distribution may lead to a breach of any law or regulatory requirement. No personis authorized to give any information or to make any representation not contained in or inconsistent with this presentation or and if given or made, such information or representation must not be relied upon as having beenauthorized by us. Receipt of this presentation constitutes an express agreement to be bound by such confidentiality and the other terms set out herein. Any failure to comply with this restriction may constitute a violation ofapplicable securities laws.This presentation and the information contained herein does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities of the Company, norshould it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. NeitherCompany nor any of its affiliates, advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents orotherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. Thispresentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation,which neither Company nor its affiliates, advisors or representatives are under an obligation to update, revise or affirm.This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forwardlooking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differmaterially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. The risks and uncertainties relating to these statements include, but are not

Positioned in the Gartner Magic Quadrant for Application Testing Services, 5 years in a row. Business Overview. Awards & Recognitions. Clients. A strong client base of 200 Active Customers. Business Overview. Promoter Holding 33.1%. Public Holding 66.1%. Share Holding Pattern (Mar'22) 3