INVESTOR PRESENTATION

October 2019

Make DigitalWelcome
Real | Execute Smart
to possible
Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, which
involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited
to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition
in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract
and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client
concentration, restrictions on immigration, our ability to manage our international operations, reduced demand
for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully
complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of
governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies
outside India, and unauthorized use of our intellectual property and general economic conditions affecting our
industry. Mindtree may, from time to time, make additional written and oral forward looking statements, including
our reports to shareholders. The Company does not undertake to update any forward-looking statement that
may be made from time to time by or on behalf of the Company.

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Mindtree at a Glance*

21,267 $1,001 M 343

Mindtree Minds Annual Revenue Active Clients

700 74% US 14 of Fortune 100

Bots
18% Europe 43 Offices

8% APAC 18 Countries

*Data as of Q2FY20 except for annual revenue

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Offerings

Travel, Transportation CPG, Retail & Banking, Financial

Hi-Tech & Media
& Hospitality Manufacturing Services & Insurance

Solution Architecture - Central Architecture Group

Digital Data-
(e-commerce, ERP EAI Engineering Test Infrastructure Mainframe &
warehouse
Marketing, Mobile, (SAP) (BPM, SOA) R&D Engineering Management Midrange
Cloud) & Analytics

Project & Program Management

Agile Application
Managed Services Application Maintenance Services
Development & Maintenance

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We are way ahead in the Digital evolution journey compared to industry

GREAT QUALITY, DELIVERED FASTER

Digital Transformation Integrated DevSecOps Beyond Digital

& Automation
Delivering complex digital Transform Run organization Help Customers reimagine their
programs at scale with better driven by automation and Enterprise with IOT, AI,
quality and faster time to market integrated operations platform Blockchain etc.

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 Make Digital Real – Delivering Unique Value to Clients
Next-gen airport platform for self Consumer goods giant engaging with
baggage and boarding consumers faster and better across
all digital channels

IoT enabled Created a unified 70 unique brands

True-blue digital 40% cost savings
Redeveloping devices and self- web content 182 countries
industrial IoT on Service models to drive 50% decrease in
airport systems certified through management 1600 digital
Azure time-to-market
Cloud competitive platform properties
differentiation and
retention Delivering
contextual,
connected,
Experience- cognitive
driven experiences
Insights Frictionless
fueled Loyalty-led
enterprise Disruption-
ready

Predictive analytics improves market share Digitalize the Global hotel chain giving do-it-yourself power
and grows assortment mix ecosystem led value to customers with mobile concierge
chain

Cloud-based 8,000 cross-sell Connects event

Global framework Centralized
Used gut-based platform using recommendations planners directly
that can be system to create
methods for sales statistical and /Month to hotel services
applied across and fulfill all event
planning machine learning 3% estimated across 500
brands related requests
techniques sales growth properties

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Recognitions

Mindtree named US Mindtree named US Mindtree named Leader

Leader and Global Rising Rising Star in Connected for the Managed
Star in Consulting and Cars in the ISG Provider Services Archetype
Services in the ISG Lens™: Transformational (mid-sized deal focus) in
Provider Lens™: IoT Services – the ISG Provider Lens™
Transformational IoT Technology, Solutions, Private/Hybrid Cloud
Services – Technology, Platforms, and Industries Data Center Services &
Solutions, Platforms, and 2019 Quadrant Report Solutions 2019
Industries 2019 Quadrant Quadrant Report
Report

Mindtree named Rising

Star USA in SAP BW/4 on
Mindtree named Rising Star
HANA and BW on HANA Mindtree has been awarded
Global in SAP Cloud
Transformation & the prestigious Mother
Platform Support Services
Operations in the ISG Teresa Award for Corporate
in the ISG Provider Lens™
Provider Lens™ SAP Citizen in recognition for its
SAP Hana & Leonardo
Hana & Leonardo industry leading practices in
Ecosystem Partners 2019
Ecosystem Partners 2019 driving social impact
Quadrant Report
Quadrant Report

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Quarterly Financial Overview
Performance Highlights
Revenue EBITDA Net Profit
USD M USD M 38.0 35.2 USD M
271.0 29.1
2.6% 26.5
264.2 19.2

246.4 13.4
q-o-q

Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20

INR M 19,143 INR M INR M

2,699 2,063
2,482
4.4% 1,350
18,342
1,841
17,554
927

q-o-q

Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20

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Key Ratios in $ terms

EBITDA % PAT % ROCE %

37.6%
15.4% 11.8%

13.0%

10.0% 7.1% 21.0%

5.1% 15.4%

Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20

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 Market Distribution Industry Distribution

73.6% 73.7% 73.7% 50.0%

39.3% 39.4% 39.8%
40.0%
21.7% 22.2% 21.7%
30.0%
22.4% 21.6% 21.6%
20.0% 16.7% 16.8% 16.9%
18.7% 17.8% 17.6%
10.0%
3.3%4.4% 4.1%4.4% 4.2%4.5%
0.0%
Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20
US Europe India Rest of the World Hi-Tech & Media BFSI
Retail, CPG & Manufacturing Travel & Hospitality

US q-o-q growth 2.7%, y-o-y growth 10.2% Hi-Tech & Media q-o-q growth 3.6%, y-o-y growth 11.4%

Europe q-o-q growth 1.5%, y-o-y growth 3.8% Travel & Hospitality q-o-q growth 3.3%, y-o-y growth 11.9%

BFSI q-o-q growth 2.8%, y-o-y growth 6.3%

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 Service Line Distribution Digital Distribution

23.9% 23.8%
14.4% 12.6% 11.7%
20.7%
23.3% 23.8% 24.6%

8.2% 7.4% 7.0%

18.2% 18.7% 10.5% 10.5% 11.0%
18.9%

35.2% 38.0% 38.0% 3.6% 3.3% 3.0%

0.4% 0.3% 0.2%

Q2 FY19 Q1 FY20 Q2 FY20

Q2 FY19 Q1 FY20 Q2 FY20

Digital Test Eng Package Solutions IMTS ADM and Product Eng Interactive Data Science and Engineering services Cloud Services Others

3 strategic pillars under Digital

Digital q-o-q growth 2.5%, y-o-y growth 18.8%

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Engagement and Client Composition
Time & Materials Fixed Cost, Fixed Monthly
45%
56%
56%  Balanced revenue
concentration
44%
44% 55%  Revenue acceleration in
focused strategic accounts

Q2 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q1 FY20 Q2 FY20

Top Client Top 5 Clients Top 10 Clients Revenue Q2 FY19 Q1 FY20 Q2 FY20

$100 mn clients 1 1 1

$50 mn clients 1 1 1
44.8% 43.0% 43.1%
$25 mn clients 4 4 4

33.8% 33.6% 33.2% $10 mn clients 21 23 21

$5 mn clients 44 46 47
20.2% 20.1% 20.6%
$1 mn clients 111 122 130
Q2 FY1 9 Q1 FY2 0 Q2 FY2 0

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Employee Metrics
Utilization (incl’ Trainees) Headcount Average Experience in Years
7.6
Q2 FY19 74.5% Q2 FY19 19,402

7.5
Q1 FY20 Q1 FY20 20,935
77.2%
7.4

Q2 FY20 77.0% Q2 FY20 21,267

Attrition BOTs Q2 FY19 Q1 FY20 Q2 FY20

 Net additions during the quarter – 332

Q2 FY19 13.0% Q2 FY19 484
 Women employees – 32%
 Nationalities - 74
Q1 FY20 15.1% Q1 FY20 674

Q2 FY20 16.5% Q2 FY20 700

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 Cash Flow/EBITDA Value Creation

100%
90%
80% Q2 FY20,
53.9% 73.8% 56.8% 8.20
70%
60% Q1 FY20,
50% 5.64
40%
30% 65.1% 103.7% 67.3% Q2 FY19,
20% 12.57
10%
0%
Q2 FY19 Q1 FY20 Q2 FY20 EPS in ₹ (Basic)
Operating cashflow/EBITDA Free cashflow/EBITDA

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Annual Financial Overview
FY19 Achievements
Revenue in $M

1,001
780 847
713 20 years
584
436 502
331 403
269 272
131 184

20K Mindtree minds

FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY FY FY FY
16* 17* 18* 19*
*FY19, FY18, FY17, and FY16 numbers are based on Indian Accounting Standards (Ind AS)

$2.2+ Billion Market Cap

EBITDA in $M
152
125
116 115 $100M+ PAT
101 107
90
73
62
52
31 39
24 INR 13,399Cr TSR

FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY FY FY FY
16* 17* 18* 19*
* FY19, FY18, FY17, and FY16 numbers are based on Indian Accounting Standards (Ind AS)

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