Analysts/Institutional Investor Meet/Con. Call Updates

July 15, 2026 The General Manager The Manager BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street 5th Floor, Plot No. C-1, Block-G Mumbai- 400 001 Bandra-Kurla Complex, Bandra(E) Mumbai-400 051 BSE Scrip Code: 532281 NSE Scrip Code: HCLTECH Sub: Transcript of the Conference Call held on July 13, 2026 Dear Sir/ Madam, In terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed please find a copy of the transcript of the Conference Call held on July 13, 2026, post the announcement of the financial results of the Company for the quarter ended June 30, 2026. The is also available on our Company’s website https://www.hcltech.com/investor-relations. This is for your information and records. Thanking you, For HCL Technologies Limited Manish Anand Company Secretary Encl.: a/a HCL Technologies Ltd. Technology Hub, Special Economic Zone Corporate Identity Number: L74140DL1991PLC046369 Plot No. 3A, Sector 126, NOIDA– 201304, UP, India Registered Office: t: +91 120 4306000 806 Siddharth, 96, Nehru Place, New Delhi -110019, India “HCL Technologies Limited Q1 FY'27 Earnings Conference Call” July 13, 2026 Management: Mr. C. Vijayakumar – Chief Executive Officer & Managing Director Mr. Shiv Walia – Chief Financial Officer Mr. Nitin Mohta – Senior Vice President & Head - Investor Relations HCL Technologies Limited July 13, 2026 Moderator: Ladies and gentlemen, good day and welcome to HCLTech's Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference, please signal an operator by pressing star and then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Nitin Mohta, Head, Investor Relations. Thank you and over to you, sir. Nitin Mohta: Thank you, Dorwin. Good morning and good evening, everyone. A very warm welcome to HCLTech's Q1 FY27 earnings conference call. We have with us Mr. C. Vijayakumar, CEO and Managing Director, HCLTech; Mr. Shiv Walia, Chief Financial Officer, along with the broader leadership team to discuss the performance of the company during the quarter, followed by a Q&A. In the course of this call, certain statements that will be made are forward-looking, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All forward-looking statements made herein are based upon information presently available to the management and the company does not undertake to update any forward-looking statement that may be made in the course of this call. In this regard, please do review the safe harbor statements in the formal investor release documents and all the factors that can cause a difference. Over to you, CVK. HCL Technologies Limited July 13, 2026 C. Vijayakumar: Good evening, good afternoon and good morning, everyone. Thank you for joining our FY27 Q1 earnings call. We began FY27 with a focus to grow our advanced AI-led offerings, increase our relevance with clients, capitalize on the full range of AI-related market opportunities in our pursuit of becoming the world's best AI solutions provider. As mentioned previously, our intent is very clear, benefit disproportionately from the AI-native and AI-amplified opportunities, which together represent the fastest-growing pool of enterprise spend, while in AI-disrupted services, we intend to innovate faster than the market to stay ahead of the deflationary curve rather than be defined by it. The fruition of this is reflected in our growing advanced AI revenue. Advanced AI revenue for the quarter stood at $171 million, marking 10.6% QoQ and 62.1% YoY growth. Let me dwell into the business performance for the quarter. AMJ is typically a weaker quarter for us due to planned revenue declines driven by productivity commitments in large managed services contracts. Despite the seasonality, we delivered a good all-round performance. Our revenue declined by 0.5% sequentially and increased by 2.6% on YoY basis in constant currency. Our operating margins stood at 16.9%, an improvement of 39 basis points QoQ and an increase of 56 basis points YoY. All growth rates referred to are in constant currency. Our Services business grew 3.5% YoY and declined by 0.7% sequentially in constant currency. Our IT and business services grew 4.2% YoY and remained flat sequentially. Engineering and R&D services grew 0.3% YoY and declined 3.7% sequentially. HCL Software annual recurring revenue is now at $1.063 billion, a 2% increase YoY in constant currency. Revenue grew 2.2% sequentially while declining 5.3% YoY. HCL Technologies Limited July 13, 2026 We have completed the acquisition of Jaspersoft. This adds the visualization layer to our data management portfolio. Just to recap, our data software product portfolio already covers the majority of the data value chain, like DataConnect for data integration and quality, Ingres, HCL Informix, Zen and VectorAI DB for storage, and Data Intelligence and Observability for governance and AI analysts to engage and activate data. What was missing was the visualize layer, the capability that takes governed trusted data and delivers it as actionable insights to the business users who need it. From bookings perspective, the quarter was good and the bookings was well-balanced across verticals, service lines and geographies. Our net new TCV booking for the quarter was $2.4 billion, highest ever Q1 bookings. This excludes the recent mega deal that we announced, which was signed in early July and not in Q1. Let me give a brief overview of this landmark win. We have been selected by a Europe-headquartered Fortune Global 50 firm as a technology partner to accelerate AI-led transformation and management of their digital workplace and enterprise networks. We will leverage our AI Force platform, software-defined solutions and digital employee experience framework to implement an AI-first workplace and intelligent connectivity fabric, thus elevating employee experience and productivity for the company at a global scale. While there are several deals that added to this $2.4 billion, I want to talk about a marquee deal that showcases the depth of value we deliver to our clients. A Fortune 250 semiconductor equipment OEM selected HCLTech to accelerate AI-driven transformation across its semiconductor engineering and manufacturing value stream. HCL Technologies Limited July 13, 2026 HCLTech will deploy SAP-enabled design-to-manufacturing capabilities and integrate SAP with core PLM and MES systems, establishing an enterprise backbone for a future-ready scalable AI- led digital supply chain. On the people front, we are 223,889 people as of 30th June 2026, a decrease of 3,292 compared to the previous quarter. Our attrition stands at 12.7% on LTM basis. Our AI strategy shows evident returns as seen in 3.3% YoY increase in revenue per employee, which has gone up every quarter for the last five quarters. Coming to our AI updates, as you know, our AI strategy is anchored on five strategic pillars designed to drive client impact, accelerate innovation and strengthen our leadership position in the AI market. I'm pleased to share the progress we made across each of them this quarter. First pillar of the strategy is proactive transformation of our services. We continue to embed AI deeply in our service delivery model, helping clients unlock measurable efficiencies and accelerate business outcomes. AI Force is now deployed across 92 distinct client accounts, enabling organizations to realize the benefits of AI within existing engagements at scale. A good example to the progress we are making in this area: a Eu [Showing first 8,000 characters — download PDF for full document]