Analysts/Institutional Investor Meet/Con. Call Updates

October 16, 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 October 15, 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 Q2 FY27 Earnings Conference Call October 15, 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. ABHISHEK JAIN – VICE PRESIDENT, CORPORATE TREASURER AND HEAD, INVESTOR RELATIONS – WIPRO LIMITED Page 1 of 15 Wipro Limited October 15, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Wipro Limited Q2 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 touch-tone 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, sir. Abhishek Jain: Thank you, Yashashri. Good evening. A warm welcome to our Q2 FY27 earnings call. We'll begin the call with the business highlights and overview by Srini 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, 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 risks 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 the transcript will be available on our website. With that, I would like to turn over the call to Srini. Srini, over to you. Srini Pallia: Thank you, Abhishek. Good evening. Thank you all for joining us today. This quarter, demand environment has remained largely unchanged. Our clients remain focused on efficiency and productivity, while increasingly looking to accelerate AI adoption and drive long-term value. This balance between efficiency and growth is shaping demand across industries. Let me begin with what we see in our priority sectors. In BFSI, we continue to see strong momentum. Clients are focused on cost optimization, legacy modernization, and scaling agentic AI across their enterprise. Digital native and new-age firms are driving demand in our technology sector. Investments in custom silicon, design-to-manufacture, and physical AI are creating opportunities across the engineering value chain. We also see growth emerging across AI model ecosystems from model training and evaluation to execution. In EMR; Energy, Manufacturing, and Resources sector, we have seen some good wins in previous quarters, and those deals are ramping up. This sector continues to gain traction across markets. Specifically, I would like to call out CPS and engineering. Page 2 of 15 Wipro Limited October 15, 2026 In Consumer sector, we are seeing good traction in CPG, travel, and transportation. Our recent new wins and revenue from Olam deal have also supported our performance in this sector. However, healthcare in US continues to be affected by policy changes. At the same time, cost pressures across payers and providers are creating new outsourcing opportunities. This, along with our differentiated platform-based offerings and including rising regulatory requirements, we are shaping our pipeline. Moving to our financial performance for the quarter. In quarter 2, our IT services revenue stood at $2.61 billion, flat sequentially and up 0.6% year-on-year in constant currency. Our operating margin for the quarter was 16.5%, an improvement of 0.5% compared to last quarter. Within our markets, three of our four SMUs, strategic market units, reported sequential growth. Americas 1 declined sequentially due to client-specific issues and softness in healthcare. Americas 2 grew sequentially, driven by EMR with encouraging momentum in BFSI. Europe grew sequentially and year-on-year, delivering broad-based growth led by BFSI, Consumer, and EMR. APMEA maintained strong traction, growing sequentially and year-on- year. Growth was fueled by Consumer, Tech, and Comms. Coming to deal wins and pipeline. This quarter, we closed $2.6 billion in total contract value and signed nine large deals. Our bookings reflect a healthy mix of new businesses and expansion of existing engagements. Let me give an example of a consulting-led AI-powered transformation deal. A global financial institution engaged Wipro to accelerate its transformation through an AI-enabled operating model. Through this engagement, we'll modernize software development, drive greater efficiency across the life cycle, and scale AI-powered ways of working, resulting in faster execution, broader AI adoption, and an agile operating model for our client. This win, among others, including a large deal in Energy last quarter, reflects growing impact of our consulting- led strategy in originating larger opportunities. Beyond large enterprises, we also see strong traction in deal wins and pipeline in the mid-market segment. These organizations understand that AI can be a force multiplier in scaling capabilities and redefining their competitive landscape. As an example, a global mid-market consumer products company selected us to accelerate their technology transformation by establishing an AI capability center in India. Through this engagement, we will scale engineering and technology operations to support ERP modernization, cloud-native platforms, and AI capabilities for our client. Outcome will drive innovation, improve engineering productivity, and strengthen global delivery model for our client. Page 3 of 15 Internal - General Use Wipro Limited October 15, 2026 We are beginning to see tangible returns from our strategic investments made in recent quarters. Mindsprint has strengthened our position in food and agriculture, opening new market opportunities. HARMAN DTS has boosted our engineering capabilities, helping us win new logos and deepening existing client engagements. We will continue to make these investments even when they create near-term margin headwinds. They enhance our strategic position, expand addressable markets, and build a stronger foundation for future growth. In April, if you recollect, we launched our AI native unit to help clients transition from traditional delivery models to AI native enterprises. We are making rapid progress. With over 2,000 engineers, including FDEs, forward deployed engineers, we are seeing growing success in outcome-based deals and driving nonlinear growth. This investment is already delivering results. Let me share a few examples. One, an SLM deployment for a major US retail bank; two, implementation of an AI-powered digital plant for one of the largest petrochemical compani [Showing first 8,000 characters — download PDF for full document]