SEC/124/2023-24 January 18, 2024

Listing Department Listing Department

BSE Limited The National Stock Exchange of India Limited
25th Floor, Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G,
Dalal Street, Fort, Bandra Kurla Complex,
Mumbai-400 001 Bandra (E), Mumbai – 400 051
SCRIP CODE: 523704 SYMBOL: MASTEK
ISIN: INE759A01021

Dear Sir(s) / Ma'am(s),

Sub: Press Release and Investor Presentation

We enclose herewith a copy of Press Release and Investor Presentation on Unaudited Financial
Results for the third quarter and nine months ended December 31, 2023 which will be
disseminated shortly.

The above information is also available on the Company website at www.mastek.com.

Thanking you.

Yours faithfully,
For Mastek Limited
DINESH Digitally signed by
DINESH KUMAR
KUMAR KALANI
Date: 2024.01.18
KALANI 14:06:42 +05'30'

Dinesh Kalani
Vice President - Group Company Secretary

Encl: A/A

Mastek Limited
804/805, President House, Opp. C. N. Vidyalaya, Near Ambawadi Circle, Ahmedabad – 380 006
Tel: +91-79-2656-4337 | Email: info@mastek.com | Web: www.mastek.com | CIN: L74140GJ1982PLC005215
Trust. Value. Velocity.

Press Release | Q3FY24

 For Immediate Release

Q3FY24 revenue at Rs 784.3 crore, up by 19.1% Y-o-Y

• 12 months order backlog grew by 21.2% Y-o-Y in rupee terms
• Operating EBITDA at 17.0%, improved by 95bps Q-o-Q
• Recommends Interim Dividend of 140%

Mumbai, India 18th January 2024: Mastek, a Turnkey & Trusted Digital Engineering & Cloud
Transformation Partner, announced today its financial results for the Third quarter and Nine
Months of FY24 ended on 31st December 2023.

Commenting on the Q3FY24 results, Hiral Chandrana, Chief Executive Officer, Mastek, said:
“We are pleased to report a steady quarter with revenue growth of 17.4% Y-o-Y in dollar terms.
Our deal momentum is strong across geographies and our 12 months order book backlog grew
20.5% YOY in dollar terms, despite delayed client decisions. BizAnalytica acquisition is now
completely integrated into the Mastek family as our Data Cloud business amplifying our
pipeline in data modernization and AI related services. We continue to drive operating model
transformation and disciplined account mining as we elevate our partner position with our
strategic clients.”

Arun Agarwal, Chief Financial Officer, Mastek, said: “We reported revenue of Rs 784.3 crore,
a growth of 2.4% on a Q-o-Q basis and 19.1% on Y-o-Y basis in INR terms, in a seasonally weak
quarter for the industry. Our steadfast commitment to improving operating levers enabled us
to expand operating EBITDA margin to 17.0% in Q3FY24. Our Board of Directors has proposed
an interim dividend of 140% or Rs 7 per share. Our disciplined execution, strong pipeline and
enhanced client engagement gives us confidence on sustained success as we approach the
start of FY25.”

_________________________________________________________________________________
2 of 8
 For Immediate Release

Review of the Consolidated Financial Performance for Quarter ended 31st December 2023:
Figures in $mn Q3FY24 Q2FY24 Q-o-Q Growth Q3FY23 Y-o-Y Growth
Revenue from Operations $94.0 $92.6 1.6% $80.1 17.4%

Figures in Rs Crore Q3FY24 Q2FY24 Q-o-Q Growth Q3FY23 Y-o-Y Growth

Total Income 787.6 770.4 2.2% 664.7 18.5%
Revenue from Operations 784.3 765.5 2.4% 658.7 19.1%
Operating EBITDA 133.5 123.0 8.5% 113.7 17.4%
% of Op. Income 17.0% 16.1% 95bps 17.3% (24)bps
Net Profit 77.7 65.3 19.1% 67.1 15.8%
Net Profit % 9.9% 8.5% 139bps 10.1% (23)bps
EPS (Rs) – Diluted 24.3 20.3 20.9
Note:
1. Adjusted PAT for Q3FY24 was 11.2% vs 10.2% in Q2FY24, if normalized for PPA amortization from MST and BizAnalytica
acquisition, fair valuation of earnout and one time acquisition cost
2. Revenue consolidated for BizAnalytica during Q3FY24 was Rs 35.8 Crore ($4.3mn)

Figures in Rs Crores 9MFY24 9MFY23 Y-o-Y Growth

Total Income 2,285.6 1,892.9 20.7%
Revenue from Operations 2,275.1 1,854.2 22.7%
Operating EBITDA 383.6 330.3 16.1%
% of Op. Income 16.9% 17.8% (96)bps
Net Profit 216.6 237.7^ (8.9)%
Net Profit % 9.5% 12.6%^ (308)bps
EPS (Rs) – Diluted 67.3 71.9
^Includes profit on sale of investment property partially offset by expense relating to business combination of MST
consummated during the period

Operating Highlights

• New accounts added during the quarter: The Company added 27 new clients in Q3FY24.
Total active clients during Q3FY24 was 436 as compared to 441 in Q2FY24.

• 12 months Order Backlog: 12 months order backlog was Rs 2,067.6 crore ($248.5 mn) as
on 31st December, 2023 as compared to Rs 1,705.8 crore ($206.2 mn) in Q3FY23, reflecting
growth of 21.2% in rupee terms and 16.5% in constant currency terms on Y-o-Y basis and
Rs 1,861.8 crore ($224.2 mn) in Q2FY24, reflecting a growth of 11.1% in rupee terms and
growth of 8.5% in constant currency terms on Q-o-Q basis.

• Employees: As on 31st December, 2023, the company had a total of 5,518 employees, of
which 3,889 employees were based offshore in India while the rest were at various onsite
_________________________________________________________________________________
3 of 8
 For Immediate Release

locations. Employee count at the end of 30th September, 2023 was 5,598. Last twelve
months attrition at 20.0% in Q3FY24 in comparison with 19.1% in Q2FY24.

• Cash Balance: The total cash, cash equivalents and fair value of Mutual Funds stood at
Rs 403.7 crore as on 31st December, 2023 as compared to Rs 311.9 crore at the end of 30th
September, 2023.

• Dividend: The Board of Directors have recommended an interim dividend of 140% (Rs 7
per share) at the meeting held on 18th January, 2024.

Key wins for the quarter

• The UK’s Key National Security Department enhances its Irregular Migration case-
working technology services contract with Mastek. Driven by ministerial priorities for
2023 and 2024, Mastek will enable the Department to further implement key initiatives
of the New Plan for Immigration. The Department will be able to make Asylum decisions
faster and reduce existing backlogs.

• For a global EU based sustainable packaging manufacturer, Mastek won a strategic

implementation in NA of Oracle Cloud ERP/SCM. This strategic initiative revolutionizes
order-to-cash, procure-to-pay, and record-to-report processes, driving streamlined
management, insightful reporting, and a significant enhancement in working capital.

• Mastek, will implement Salesforce for seamless Health Trio Member portal access via
Single Sign-On for our prominent US based Healthcare Insurance Partner. Our solution
integrates Broker Commissions into trustycare, establishing a definitive source of truth for
all HRA data. This initiative reinforces our commitment to trust and excellence in
healthcare services.

• Mastek, embarks on a 3-year journey with a Middle Eastern healthcare leading hospital
chain, specializing in medical treatment, education, and research with 3,000+ beds.
Providing ServiceNow implementation and support, we enhance ITSM and CSM platforms,
introduce Integrated Risk Management (IRM), and develop a Social Hub Portal. This
solution not only streamlines operations but ensures a reduced total cost of ownership,
delivering substantial value to the customer.

• Mastek, a trusted ally, forges a transformative alliance with our US based Fortune 500
Clinical Innovation partner. Implementing Oracle Absences and Time & Labor solutions
within Oracle HCM Cloud, this dynamic solution ensures precision in absence

_________________________________________________________________________________
4 of 8
 For Immediate Release

management policies and establishes a singular source of truth for time-related data
enterprise-wide. It's a significant stride towards operational excellence.

• Mastek, in a strategic collaboration with our US based Fortune 500 financial services
client, employs Salesforce, Oracle, Big Data, and Data Engineering expertise for
comprehensive application development. Our services extend to Enterprise Cloud and
technology infrastructure support, ensuring data quality as a service, real-time availability,
and robust support for Sales & Marketing teams. This initiative underscores our
commitment to delivering impactful solutions with unwavering trust and excellence.

• Mastek spearheads a pivotal initiative with our Saudi Arabian cement producer client,
shifting to Oracle Fusion ERP. This move enhances functionality, cloud deployment, and
security—powered by Mastek Glide. Our Innovation Solution, utilizing real-time IoT data,
optimizes processes, yielding a remarkable 1.5X improvement in turnaround time (TAT)
and resource efficiency, underscoring our dedication to innovation and excellence.

• Mastek a trusted partner, for a member of one of the leading universities in the UK,
received extension for an existing project originally signed in 2022 to transform the
customer’s entire back office operations (41 disparate systems) to Oracle Cloud. Through
this extension Mastek will help in enhancing HR & payroll processes, streamlining finance
and procurement systems, while providing better processes, information and control over
HR and financial strategic plans for the customer.

• Mastek embarks on a transformative journey, implementing Databricks and Snowflake for

our esteemed US based healthcare client. As a strategic partner, we guide their multi-
year cloud strategy, aiming to elevate insights and execution capabilities. This
collaborative effort is a pivotal step towards advancing the customer's journey in
healthcare innovation and cures.

_________________________________________________________________________________
5 of 8
 For Immediate Release

Awards & Recognitions:

During the quarter, Mastek and its Subsidiaries received awards and recognitions conferred
by reputable organizations. Some of them are:

• ISG: Mastek was recognized as a ‘Contender’ in the ISG Provider Lens study Healthcare
Digital Services 2023 for Provider Digital Transformation Services, and as a 'Product
Challenger' and 'Market Challenger' in the ISG Provider Lens study Oracle Cloud and
Technology Ecosystem 2023

• AWS: Mastek recognized as one of the Top 3 Finalists for AWS Rising Star Partner of the
year @ AWS Re-invent 2023. Mastek had participated in 1st re-invent in 2022, progressed
from ‘Select’ to ‘Advanced’ status

• TechMarketView report on UK Defence: Mastek mentioned as "Suppliers knocking on the

door, growing strongly and threating current leader positions" by the UK’s
TechMarketView. Positioned as a strong contender for further success in the defense
market.

• Nasscom Digital Skills Awards 2023: Mastek was Deep Skills Disruptor at
Nasscom’s Digital Skills Awards 2023 in the category of Depth of Niche Technology
Skilling. Mastek also received a special recognition from Nasscom for nurturing Digital
talent

_________________________________________________________________________________
6 of 8
 For Immediate Release

About Mastek
Mastek (NSE: MASTEK; BSE: 523704), is an enterprise digital and cloud transformation partner
that engineers excellence for customers in industries such as healthcare and life sciences,
retail & consumer, manufacturing, financial services, and public sector across 40 countries,
including the UK, US, Europe, the Middle East, and Asia Pacific. Mastek helps enterprises
decomplex digital and delivers business outcomes with trust, value, and velocity across the
spectrum of services including digital experience & engineering, cloud implementations, data,
automation & AI, and cloud managed services. A preferred Oracle, Salesforce, Microsoft, AWS
and Snowflake partner, Mastek has 6000+ employees and delivers right-fit solutions to both
medium businesses and global Fortune 1000 clients. For more details, please visit our website
www.mastek.com

For past results & conference call transcripts, please visit our web site at
https://www.mastek.com/investors/. Updated disclosures regarding corporate governance
may also be accessed at https://www.mastek.com/investors-corporate-governance/.

Investor / Analyst contact:

Asha Gupta Rajat Kedia
Investor Relation Practice, E&Y LLP Investor Relations, Mastek
Asha.Gupta@in.ey.com Rajat.Kedia@mastek.com

Shareholders may also contact Mastek via email at Investor_grievances@mastek.com, which

has been specifically created for the redressal of investor grievances. You may also contact
the Investor Relations team by email at investor.relations@mastek.com.

Note: Except for the historical information and discussion contained herein, statements included in this release may constitute
forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to
differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but
are not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage
inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which
is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to
reflect events or circumstances after the date thereof.

_________________________________________________________________________________
7 of 8
 For Immediate Release

Thank You
T

Thank You

Trust. Value. Velocity.

_________________________________________________________________________________
8 of 8
INVESTOR
PRESENTATION
Q3FY24
18 January 2024

Presented by:
Hiral Chandrana | Chief Executive Officer, Mastek
Arun Agarwal | Chief Financial Officer, Mastek
 Table of
Contents

01 02 03 04 05

Highlights Financial & Key Wins for Acquisition Strategic

of the Operational the Quarter Update Priorities
Quarter Performance

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 2
HIGHLIGHTS OF THE
QUARTER
HIGHLIGHTS OF Q3FY24

Revenue Growth Op. EBITDA Growth 12month Order backlog

Year-on-Year 19.1% Year-on-Year 17.4% Year-on-Year Growth 21.2%

Q3FY24 revenue at Q3FY24 Op. EBITDA 12 Months Order backlog at

₹ 784.3 Crore ₹ 133.5 Crore ₹ 2,067.6 Crore

Revenue grew by Op. EBITDA grew by 12 months order backlog grew by

2.4% QoQ 8.5% QoQ 11.1% QoQ
17.0% of Revenue

Declared Interim Dividend of 140% or Rs 7 per share

Revenue consolidated for BizAnalytica during Q3FY24 was ₹ 35.8 Crore ($4.3mn)

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 4
KEY ACHIEVEMENTS & RECOGNITIONS

Named in Mastek mentioned

Mastek won
‘Healthcare Digital Mastek recognized as "Suppliers on the
the Nasscom Digital
Services 2023’ and as one of the Top 3 rise, growing
Skills Awards 2023
'Oracle Cloud and Finalists for AWS strongly and
in the category of
Technology Rising Star Partner threating current
Depth of Niche
Ecosystem 2023’ by of the year leader positions" by
ISG Provider Lens
Technology Skilling
TechMarketView

Mastek was recognized as a • Mastek recognized as one of • Mastek mentioned as • Mastek was Deep Skills Disruptor
‘Contender’ in the ISG Provider the Top 3 Finalists for AWS "Suppliers knocking on the at Nasscom’s Digital Skills
Lens study Healthcare Digital Rising Star Partner of the year door, growing strongly and Awards 2023 in the category of
Services 2023 for Provider Digital @ AWS Re-invent 2023 threating current leader Depth of Niche Technology
Transformation Services, and as positions" by the UK’s Skilling
• Participated in 1st re-invent in
a 'Product Challenger' and TechMarketView
2022, progressed from ‘Select’ • Special recognition from
'Market Challenger' in the ISG to ‘Advanced’ status • Positioned as a strong Nasscom for nurturing Digital
Provider Lens study Oracle Cloud contender for further success talent
and Technology Ecosystem 2023 in the defense market.

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 5
GENAI
Preparing to capture the wave with industry-first solutions

plan.ai create.ai orchestrate.ai transform.ai deliver.ai

• GenAI maturity • Foundational data prep • Salesforce, Oracle, • General purpose LLM • App development pilot
assessment through data integration Microsoft GenAI features pilot using coding co-pilots
• GenAI roadmap • Co-create customer • Orchestrate & integrate • Fine-tuning for specific • Rapid UI/UX Design from
specific use-cases holistic business use case high-level requirements
• Data modernization • Implement GenAI • Test automation using
customer service tools synthetic test data and
test case generation

Big Bet Verticals Big Bet Solution Areas Platform Alliances

Healthcare Intelligent Industry GenAI

Assistants & Powered Tools
Alcaraz IP
Financial
Services GenAI Powered Partner
SDLC Solutions

Retail
��🔗 LangChain

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 6
FINANCIAL & OPERATIONAL
PERFORMANCE
FINANCIAL PERFORMANCE

900
23.5% 25.0%

21.9% 21.8%
800 21.1% 21.1% 21.1% 20.8%
19.2%
20.0%
700
17.6% 17.3% 17.7% 17.5%
17.3% 17.2% 17.0%
600
16.1%

13.3% 13.8% 15.0%

15.7% 15.6%
500
11.8% 15.4% 15.1% 15.0% 14.7%
14.3% 14.2% 13.6%
400

11.0% 11.6% 10.0%

10.3% 10.1% 10.2% 10.1% 9.9%

300
9.6% 9.7%
8.5%
200
5.0%

100

248 244 244 337 386 410 443 483 517 534 552 582 570 625 659 709 725 766 784
- 0.0%

Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24

Revenue from Operations (₹ Crore) Operating EBITDA Margin PAT Margin

Adjusted PAT for Q3FY24 was 11.2% vs 10.2% in Q2FY24, if normalized for Purchase Price Allocation (PPA) amortization from MST and BizAnalytica acquisition, fair valuation of earnout and one time acquisition cost

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 8
CONSOLIDATED FINANCIAL HIGHLIGHTS Q3FY24
Comparison: Quarter-on-quarter & Year-on-year (Figures In ₹ Crore)

Operating Operating EBITDA PAT & 12 Months

Revenue & Margin (%) Margin (%) Order Backlog

17.3% 17.0% 9.9%

16.1% 10.1%
8.5%

1,705.8

1,861.8

2,067.6
765.5

784.3
658.7

113.7

123.0

133.5

67.1

65.3

77.7
Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24

2.4% QoQ 8.5% QoQ 19.1% QoQ 8.5% QoQ (CC)

2.7% QoQ (CC) 17.4% YoY 15.8% YoY 16.5% YoY (CC)

19.1% YoY

13.4% YoY (CC) Adjusted PAT for Q3FY24 was 11.2% vs 10.2% in Q2FY24, if normalized for Purchase Price Allocation (PPA) amortization from
MST and BizAnalytica acquisition, fair valuation of earnout and one time acquisition cost

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 9
CONSOLIDATED FINANCIAL SUMMARY – Q3FY24
QoQ YoY
Key Performance Metrics Q3FY24 Q2FY24 Q3FY23 Growth Growth
Revenue from Operations ($mn) $94.0 $92.6 $80.1 2.7% (CC) 13.4% (CC)
Revenue from Operations (₹ Crore) 784.3 765.5 658.7 2.4% 19.1%
Revenue
Other Income (₹ Crore) 3.4 4.8 6.0 (30.2)% (44.1)%
Total Income (₹ Crore) 787.6 770.4 664.7 2.2% 18.5%
Op. EBITDA 133.5 123.0 113.7 8.5% 17.4%
Margins
PBT 101.7 90.3 91.9 12.7% 10.7%
(₹ Crore)
PAT 77.7 65.3 67.1 19.1% 15.8%

Op. EBITDA 17.0% 16.1% 17.3% 95bps (24)bps

Margin (%) PBT 12.9% 11.7% 13.8% 120bps (91)bps

PAT 9.9% 8.5% 10.1% 139bps (23)bps

Basic 24.6 20.5 21.3

EPS (₹)
Diluted 24.3 20.3 20.9

*CC: Constant Currency

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 10
CONSOLIDATED FINANCIAL SUMMARY – 9MFY24
YoY
Key Performance Metrics 9MFY24 9MFY23 Growth
Revenue from Operations ($mn) $274.7 $231.8 15.5% (CC)
Revenue from Operations (₹ Crore) 2,275.1 1,854.2 22.7%
Revenue
Other Income (₹ Crore) 10.6 38.7 (72.7)%
Total Income (₹ Crore) 2,285.6 1,892.9 20.7%
Op. EBITDA 383.6 330.3 16.1%
Margins
PBT 292.3 331.1 (11.7)%
(₹ Crore)
PAT 216.6 237.7 (8.9)%

Op. EBITDA 16.9% 17.8% (96)bps

Margin (%) PBT 12.8% 17.5% (470)bps

PAT 9.5% 12.6% (308)bps

Basic 68.0 73.3

EPS (₹)
Diluted 67.3 71.9

₹ Crore 2,067.6 1,705.8

Order Backlog
$mn 248.5 206.2
*CC: Constant Currency
Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 11
BALANCE SHEET METRICS 9MFY24 – CONSOLIDATED
Figures In ₹ Crore

Cash & Cash Equivalent Return on Equity# Return on Capital Employed#

29.5%

20.7%

15.1%
794.0

270.0

403.7

33.6%

24.0%

18.1%
FY22 FY23 9MFY24 FY22 FY23 9MFY24 FY22 FY23 9MFY24

# Return on Equity = PAT/Average Networth; Return on Capital Employed = EBIT/Average Capital Employed

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 12
OPERATING METRICS Q3FY24
Strengthening our business Q3FY24 Q2FY24 Q3FY23
New Clients Added 27 29 31
Active Client during the Quarter 436 441 444
Client Base Top 5 30.4% 31.5% 28.1%
Top 10 40.2% 41.3% 39.2%
No. of Clients with Annual Billing > USD 1mn 73 67 59
Total Employee 5,518 5,598 5,687
• Offshore 3,889 3,978 4,140

Employee • Onsite 1,629 1,620 1,547

Base Diversity (Women employees) 28.9% 28.9% 29.4%
LTM attrition 20.0% 19.1% 23.3%
Utilization net of leave 85.4% 84.1% 76.6%
DSO Days 94 97 98
Value (In mn) – £ 15.1 17.0 14.2
FX Hedges Average rate/ ₹ 109.5 108.8 106.9
for next 12
months Value (In mn) – $ 9.0 9.7 11.4
Average rate/ ₹ 83.3 82.8 81.0

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 13
REVENUE ANALYSIS Q3FY24 – CONSOLIDATED
Balancing Our Portfolio

Revenue by Market Region* Revenue by Contract Type

4.1% 4.1% 4.3%

9.2% 10.9% 10.8%

46.5% 41.0% 40.8%

27.8% 28.4% 30.0%

58.9% 56.6% 54.9% 53.5% 59.0% 59.2%

Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24

UK & Europe US ME ROW Time & Material Fixed Price

* ROW includes India, Singapore, Malaysia and Australia

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 14
OPERATIONAL PERFORMANCE
Revenue By Industry Segments
Q3FY24 – Consolidated

Q3FY24 43.0% 17.9% 12.0% 15.3% 11.8%

Government & Education

Health & Life Sciences
Q2FY24 43.6% 16.6% 12.5% 15.7% 11.6%
Retail/ Consumer
Manufacturing & Technology
Financial Services #

Q3FY23 41.4% 16.2% 14.1% 16.1% 12.2%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Note:
# Financial Services includes consultancy/ professional services

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 15
OPERATIONAL PERFORMANCE
Revenue By Service Line
Q3FY24 – Consolidated

Q3FY24 43.2% 29.1% 18.1% 9.5%

Digital & Application Engineering

Oracle Cloud & Enterprise Apps Q2FY24 43.5% 30.5% 18.5% 7.5%
Digital Commerce & Experience
Data, Automation and AI

Q3FY23 43.5% 29.2% 21.7% 5.6%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 16
KEY WINS FOR THE
QUARTER
KEY WINS FOR THE QUARTER

Government & Financial Services

UK & Europe UK & Europe Americas AMEA

Client

A member of the UK’s American Fortune 500 financial services

One of the largest bank in the Middle
prestigious Russell Group of leading provider offering range of credit cards,
A ministerial department responsible for East operating across several branches
universities, providing an exceptional charge cards, and other payment and
immigration, security, law & order and processing 60 million+ monthly
research-led education for its 45,000+ financing solutions to individuals, small
transaction volumes
students across the UK. and middle businesses, and corporates

About the deal

The Department enhances its Irregular Mastek as a trusted partner received Mastek will provide application Mastek will contribute in implementing
Migration case-working technology extension for an existing project development services for various Centralized and Resilience accounting
services contract with Mastek. Driven originally signed in 2022 to transform business lines using Salesforce, Oracle, transformation platform towards
by ministerial priorities for 2023 and the customer’s entire back office Big Data and Data Engineering meeting the customer’s Organizational
2024, Mastek will enable the operations (41 disparate systems) to expertise as well as providing & Governmental updates using Oracle
Department to further implement key Oracle Cloud. Through this extension Enterprise Cloud and technology Accounting Hub Application (FAH)
initiatives of the New Plan for Mastek will help in enhancing HR & Infrastructure support. The solution will with greater automation, integration,
Immigration. The Department will be payroll processes, streamlining finance provide data quality as a service & real scalability and robustness in day-to-day
able to make Asylum decisions faster and procurement systems, while time data availability, deployments activities including providing robust
and reduce existing backlogs providing better processes, information availability, application build, and dashboards & reporting views, seamless
and control over HR and financial support teams for Sales & Marketing. enablement for reconciliations and
strategic plans for the customer. interface monitoring.

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 18
KEY CASE STUDIES AND WINS

Healthcare

Americas Americas AMEA

Client

Large USA based Non-Profit company which forms part

An American Fortune 500 Company operating clinical A leading hospital chain providing specialized medical
of an Association providing Healthcare Insurance &
laboratory and maintaining collaborative agreements treatment, education, and research with a capacity of
related services to over 100 million people across the
with various hospitals and clinics across the globe. 3,000+ beds.
country

About the deal

Mastek, will implement Salesforce for seamless Health Mastek as a trusted partner will implement Oracle Mastek as a trusted partner will provide ServiceNow
Trio Member portal access via Single Sign-On for the Absences and Time & Labor solutions of the Oracle implementation and support to the customer for 3
customer. Our solution integrates Broker Commissions HCM Cloud for the customer. This solution will enable years. Through this engagement Mastek will maintain
into trustycare, establishing a definitive source of truth the customer to achieve effectiveness & consistency for and enhance ServiceNow ITSM and CSM platforms,
for all HRA data. This initiative reinforces our the absence management policies, and ensure a single implement Integrated Risk Management (IRM), and
commitment to trust and excellence in healthcare source of truth for time related data throughout the construct a Social Hub Portal. The solution will help
services. enterprise. with reduced total cost of ownership thus delivering
value to the customer.

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 19
KEY WINS FOR THE QUARTER

Retail & Manufacturing

UK & Europe UK & Europe Americas AMEA

Client

A market leader offering comprehensive An industry-leading manufacturer of Second largest North American waste
solutions in commercial laundry, packaging for consumer-packaged disposal company providing non- A Saudi Arabian cement producer
catering, heating, & fire safety goods, serving local markets in the hazardous solid waste collection, waste holding second largest producing
equipment with nearly 50 years of region with disposable tableware and transfer, waste disposal, recycling, and capacity within the region
experience & 450 skilled engineers food service packaging. energy services

About the deal

Mastek will provide a Microsoft Azure Mastek as a transformation & Mastek has signed a multi-year contract Mastek will help the customer in
Event Grid-based solution, aiming to implementation partner will implement to help the customer modernize their migrating from Oracle E-Business Suite
consolidate and establish a single source Oracle Cloud ERP/SCM in NA, enabling ERP platform. The Order-To-Cash to Oracle Fusion ERP for achieving
of truth by imposing a set of business order to cash, procure to pay, and initiative includes integration of their enhanced functionality, cloud-based
rules while entering data into the record to report processes for the Salesforce platform with Oracle ERP as deployment, advanced security etc.
subsystem datasets for the customer. customer. Through this contract, the well as their M&A entities’ Salesforce & Mastek will also provide Innovation
This initiative aims to unlock the customer will be able to streamline ERP platforms. Mastek has Solution which will utilize near real-
potential for future digital product their order management processes, implemented an onsite-offshore pod- time IOT data for optimizing the end-to-
offerings through the Customer Portal analyze operational reporting and based model for the Salesforce platform end process of customer sales, loading,
and E-commerce platforms helping the improve working capital. to support this initiative. and material tracking, resulting in
customer with digital transformation. improvement of up to 1.5X in TAT and
efficient utilization of resources.

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 20
ACQUISITION UPDATE
BIZANALYTICA - STRONG SYNERGY POTENTIAL WITH MASTEK

Strong Data Cloud Developing Data- Provide Data

Strengthens Data Potential to
Capabilities on centric solutions foundation for
Engg. capabilities in position Mastek
leading platforms complementary to Analytics and
Retail & HLS, while services into
like Snowflake, platforms such as Generative AI use
adding verticals in Fortune 1000 and
Databricks, AWS Salesforce, Oracle cases to our
Asset / Wealth Enterprise clients
& DBT and Microsoft Enterprise Clients
Management of BizAnalytica

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 22
 BIZANALYTICA IS NOW MASTEK’S DATA CLOUD AND MODERNIZATION
BUSINESS

Mastek Snowflake partnership tier upgraded to “Premier” tier

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 23
KEY CASE STUDIES AND WINS

Financial Services Financial Services Healthcare

Americas Americas Americas

Client

American investment management company offering

Investment management/asset management firm Global provider of information, innovative technology
wide range of investment solutions with a focus on
specializing in providing investment solutions for solutions and contract research services focused on
active management, research, and long-term
institutional investors using data and science for healthcare industry
perspective.

About the deal

Mastek is currently developing a Unified Data Platform Mastek will implement Snowflake data warehouse for Mastek will implement Databricks and Snowflake
for the customer. Built on Snowflake using HVR-DBT, the customer which includes understanding business while helping the customer to strategize their multi-
this platform centralizes market value and exposure processes, user needs, technical specifications, year cloud journey. The goal is to enhance insights and
data for portfolios, commencing with equities and compliance requirements, and any other relevant execution capabilities in an effort to advance the
expanding to other asset classes. This initiative aspects. The business objective of this project is to customer’s path toward cures.
underscores our commitment to innovative data increase the speed of data processing for Asset
solutions, enhancing Mastek's reputation as a trusted managers.
partner in investment management.

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 24
STRATEGIC PRIOIRTIES
MASTEK STRATEGIC PRIORITIES
Turnkey Digital Engineering & Cloud Transformation Partner

Massive Untapped Continued Growth Differentiated Digital & Cloud

Mastek Brand, M&A
Opportunity in in UK Public Sector Talent and Delivery Services
Innovation & ESG
Americas EU, ME expansion model Strategic Partners

• Healthcare, Retail • Home Office, • Career Value to • Dominate in Oracle • Innovation Labs as a
& Manufacturing, HMRC, NHS, City Attract/Retain Top Cloud Globally Service, Non-linear
State & Local Govt. Councils, Cabinet Talent • Grow - Salesforce, Platforms
• Top 15 accounts Office • Value Based Snowflake, AWS, • M&A and Ventures
mining and Fortune • Financial Services, Delivery to drive and Microsoft • Environment, Social
1000 targets Retail in UK, Mfg. in Business Outcomes • Cloud Enhancement & Governance (ESG)
Europe, Digital & Managed Services
Cross-sell in ME (CEMS)

Decomplex Digital with Trust, Value & Velocity

Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 26
 THANK YOU

This presentation contains information that may be privileged or confidential and

is the property of Mastek.

Copyright © 2022 Mastek. All rights reserved.

Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to
differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage
inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to
reflect events or circumstances after the date thereof.