Analysts/Institutional Investor Meet/Con. Call Updates

July 17, 2026 The Manager- Listing National Stock Exchange of India Limited (NSE: WIPRO) The Manager- Listing BSE Limited (BSE: 507685) The Market Operations NYSE, New York (NYSE: WIT) Dear Sir/Madam, Sub: Transcript of the Analyst / Institutional Investor Meeting Please find attached herewith copy of the transcript of the Analyst / Institutional Investor Meeting held on July 16, 2026. The audio recording of the same is available at https://www.wipro.com/investors/quarterly-results/. Thanking You, For Wipro Limited M Sanaulla Khan Company Secretary ENCL: As above “Wipro Limited Q1 FY '27 Earnings Conference Call” July 16, 2026 MANAGEMENT: MR. SRINI PALLIA – CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTOR – WIPRO LIMITED MS. APARNA IYER – CHIEF FINANCIAL OFFICER – WIPRO LIMITED MR. SAURABH GOVIL – CHIEF HUMAN RESOURCES OFFICER – WIPRO LIMITED MR. HARI SHETTY – CHIEF STRATEGIST AND TECHNOLOGY OFFICER – WIPRO LIMITED MR. ABHISHEK JAIN – VICE PRESIDENT, CORPORATE TREASURER AND HEAD, INVESTOR RELATIONS – WIPRO LIMITED Page 1 of 15 Wipro Limited July 16, 2026 Moderator: Ladies and gentlemen, good day and welcome to Wipro Limited 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 the conference call, please signal an operator by pressing star and then zero on your touchtone phone. Please note that this conference is being recorded and the duration for today's call will be for 45 minutes. I now hand the conference over to Mr. Abhishek Jain, Vice President, Corporate Treasurer and Head of Investor Relations. Thank you and over to you. Abhishek Jain: Thank you, Yashashri. Good evening and warm welcome to our Q1 FY27 earnings call. We will begin the call with the business highlights and overview by Srinivas Pallia, our Chief Executive Officer and Managing Director, followed by updates on financial overview by our CFO, Aparna Iyer. We also have our CHRO, Saurabh Govil, and the Chief Strategist and Technology Officer, Hari Shetty, on this call. Afterwards, the operator will open the bridge for Q&A with our management team. Before Srini starts, let me draw your attention to the fact that during this call, we may make certain forward-looking statements within the meaning of Private Securities Litigation Reform Act 1995. These statements are based on management's current expectations and are associated with uncertainties and risks, which may cause the actual results to differ materially from those expected. The uncertainties and risk factors are explained in our detailed filings with the SEC. Wipro does not undertake any obligation to update the forward-looking statements to reflect events and circumstances after the date of filing. The conference call will be archived and a transcript will be available on our website. With that, I would like to turn over the call to Srini. Srini Pallia: Thank you, Abhishek. Good evening, everyone. Thank you for joining us today. Let me start with a quick view of the broader market. The macro environment remains resilient, but uncertainty continues to shape decision making. Technology investment has not slowed. They have become more focused. Clients continue to invest in AI, data, cloud, modernization, cybersecurity, and productivity-led transformation. Spending today is measured with more rigor and longer decision cycles. The AI disruption is expanding the market, not shrinking it. At the same time, conversations around AI are becoming more intense. As the tokenization landscape evolves, clients are focused on net productivity and require a tighter linkage between investment and outcomes. Despite selective client spending, our pipeline remains healthy. We continue to see strong engagement across our markets and industries. We are executing a consulting-led AI-powered strategy to help our clients reimagine and redesign their enterprise around intelligence. With that, I'll now share our financial performance. All numbers are in constant currency. Our IT services revenue for quarter one was $2.61 billion, up 0.9% year-on-year and down 1.2% Page 2 of 15 Wipro Limited July 16, 2026 sequentially. Our IT services margin was 16%, a 1.2% decline year-on-year. In our markets, Americas remain soft, declining both sequentially and on a year-on-year basis. We continue to see momentum in technology and communication sector and some good wins in the consumer sector. As we move into quarter two, we're also seeing momentum build up in BFSI. APMEA revenue grew sequentially and on a year-on-year basis. We are encouraged by the momentum we continue to see in this market, particularly in the BFSI and consumer sectors. Our Europe SMU grew year-on-year with strong traction in BFSI, technology and communication. However, energy, manufacturing and resources remains soft. We see a healthy pipeline across various regions in Europe such as UK and Nordics. During the quarter, order booking totaled $3.4 billion and large deal bookings totaled $1.6 billion. Our order booking includes 13 large deals this quarter. Let me highlight two of these deal wins. A leading global animal healthcare provider selected us to modernize and manage digital operations across their global network of hospitals and clinics. Using Wipro Intelligence, we will help transform service operations, improve productivity and enable predictive issue prevention. We are helping the client create a more autonomous technology environment. The goal is to improve experiences for clinical teams, employees and customers, while increasing operational rigor. In our second deal win, a leading European specialty chemicals company chose us to run and transform their complex application landscape. Leveraging AI-led capabilities through WINGS, part of our Wipro Intelligence -- excuse me, we will automate operations, improve delivery efficiency and provide greater visibility through an AI-powered digital command center. The outcome here will be elevated service quality, higher productivity and lower operating costs. Across markets and industries, we are helping clients reimagine operations by embedding AI at the core of their business, spanning both physical and digital worlds. In this context, let me share some examples of the work we are already doing with clients. One, for a global industrial manufacturer, we are reimagining finance and procurement through our WINGS platform, combining Agentic AI, intelligent orchestration, real-time analytics and AI-powered knowledge management to create a highly automated operating model. In my second example, with one of our healthcare clients, we are deploying multi-agent AI systems, reducing provider enrollment processing times up to 70% while automating their manual effort up to 90%. Three, for a leading global technology company, we are improving the quality, reasoning and safety of their next-generation AI models through expert-led data creation and AI evaluations. This is delivering significant gains in model accuracy and reasoning capability. With a life sciences client, our WINGS platform is transforming pharma-covigilance from a document-centric, labor-intensive process into an AI-native safety operation. This is powered Page 3 of 15 Wipro Limited July 16, 2026 by autonomous agents and regulatory-grade workflows. For a global energy leader, we are defining their enterprise robotics strategy and roadmap for physical AI-enabled autonomous operations. Collectively, these engagements demonstrate the breadth of Wipro's AI capabilities from strategy and advisory to domain-specific solutions. And the wins that I talked about also reflect a broader shift in enterprise priorities. In fact, interestingly today, clients are looking beyond technology modernization alone. The focus is moving towards AI-enabled operating models that improve service quality, reduce operational complexity, strength [Showing first 8,000 characters — download PDF for full document]