The Transcript of the investor/analyst call held on Thursday, October 15, 2026, is as enclosed.

NSE & BSE / 2026-27 / 169 October 23, 2026 The Manager, The Manager, Corporate Services, Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, P J Towers, Dalal Street, Bandra (E), Mumbai 400 001 Mumbai 400 051 Ref: Symbol: PERSISTENT Ref: Scrip Code: 533179 Dear Sir/Madam, Sub.: Transcript of the investor/analyst call held on Thursday, October 15, 2026 Ref.: Our earlier intimation under Ref. No. NSE & BSE / 2026-27 / 163 dated October 15, 2026 In continuation to the above-referred intimation and pursuant to Regulation 30 read with Schedule Ill (Para A) (15) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to submit the transcript of the investor/analyst call held on Thursday, October 15, 2026, at 5:00 PM (IST), for the quarter and half year ended September 30, 2026. The transcript of the investor/analyst call is also made available on the Company’s website as follows: Investor/Analyst Call Transcript Q2FY27 Thanking you, Yours sincerely, For Persistent Systems Limited Amit Atre Company Secretary ICSI Membership No.: ACS 20507 Encl.: As above Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696 Tel: +91 (20) 6703 5555 | Fax - +91 (20) 6703 6003 | E-mail - info@persistent.com | Website - www.persistent.com Persistent Systems Limited “PERSISTENT SYSTEMS EARNINGS CONFERENCE CALL, SECOND QUARTER, FY27 ENDED SEPTEMBER 30, 2026” October 15th, 2026 MANAGEMENT: Dr. Anand Deshpande Chairman and Managing Director Mr. Sandeep Kalra Executive Director and Chief Executive Officer Mr. Vinit Teredesai Executive Director and Chief Financial Officer Mr. Nitish Shrivastva Chief Technology Officer – Engineering Hyper Productivity Mr. Saurabh Dwivedi Corporate Vice President, Finance and Strategy Page 1 of 25 Persistent Systems Limited Moderator: Ladies and gentlemen, good day and welcome to Persistent Systems Earnings Conference call for the 2nd Quarter FY27, ended September 30, 2026. We have with us on the call today: 1. Dr. Anand Deshpande, Chairman and Managing Director 2. Mr. Sandeep Kalra, Executive Director and Chief Executive Officer 3. Mr. Vinit Teredesai, Executive Director and Chief Financial Officer 4. Mr. Nitish Shrivastava, Chief Technology Officer, Engineering Hyper Productivity) 5. Mr. Saurabh Dwivedi, Corporate Vice President, Finance and Strategy. Please note that all participants' lines will be in listen-only mode and there will be an opportunity for you to ask questions after management's opening remarks. Should you need any assistance during the conference call, please raise your hand from the Participant tab on the screen. While asking questions, please identify yourself and your company. Please note that this conference is being recorded. I now hand over the conference to Mr. Saurabh Dwivedi. Thank you and over to you, sir. Saurabh Dwivedi: Thank you, Rashi. A very good day, everyone. We sincerely appreciate your presence and participation in today's call. Let me quickly outline the agenda for today's call. • Sandeep will begin with an overview of our Q2 results, commentary on the business and update on our acquisition of Nagarro. • Vinit will take you through the financial details and key operational metrics for Q2. • Nitish will provide details on expansion of our AI capabilities and representative AI wins in the quarter gone by. • I will then provide an overview of our key deal wins and awards and recognitions for this quarter. • Sandeep will then come back for a quick summary of the prepared remarks, post which we will open the conference for questions. Page 2 of 25 Persistent Systems Limited Let me also remind you that as part of our prepared remarks and during Q&A, we may make certain statements which are forward-looking and may involve significant uncertainty. Persistent does not take any responsibility to update such forward-looking statements, and your discretion is warranted while making any investment decisions. With this, let me hand over to Sandeep for his prepared remarks. Sandeep Kalra: Thank you, Saurabh. Good morning, good afternoon, good evening to all of you, depending on where you're joining from. I hope all of you are doing well. Let me start with a quick financial summary of the quarter gone by. We achieved a healthy revenue growth of 7.8% quarter-on-quarter and 20% year-on-year delivering USD 487.6 million in Q2 FY27. This marks our 26th sequential quarter of revenue growth. In rupee terms, the growth for the quarter came in at 8.4% quarter-on-quarter and 30.3% year-on-year. In constant currency terms, the growth for the quarter was 7.8% quarter-on- quarter and 20.8% year-on-year. The EBIT margin for the quarter came in at 15%, translating to an EBIT growth of 1.6% quarter-on-quarter and 19.5% year-on-year. The operating profit after tax for the quarter came in at 10.6%, translating to a PAT growth of 2.5% quarter-on-quarter and 5% year-on-year. The reported profit after tax for the quarter came in at 7.5%. I would like to point out that the reported PAT includes exceptional one-time expenses as part of Nagarro acquisition, resulting in approximately 3.1% impact for the quarter. Vinit, our CFO, will provide a detailed colour on the financials and margin movement later in this call. Coming to the order book for the quarter, the total contract value for the quarter stood at USD 633.5 million, with total contract value of new bookings coming in at USD 367.1 million. The annual contract value of bookings for this quarter was USD 481 million, out of which the annual contract value from new bookings contributed to USD 262.3 million. To remind everyone, both TCV and ACV numbers include all bookings, small and large, renewals as well as new bookings across existing and newer customers. Also, as highlighted in our earlier calls, our revenue conversion on a quarterly basis is a function of ACV bookings closed in previous quarters, as well as the conversion from multi-year deals booked in previous years, which are included in our total contract value or TCV bookings that we announce on a quarterly basis. Page 3 of 25 Persistent Systems Limited Now, let me give you some colour on our client movement across various reported categories. This quarter, we witnessed healthy year-on-year growth among our various client buckets. Our top 5 customers' revenue grew by 38.9%, top 10 by 29.9%, top 20 by 25%, top 50 by 24% and top 100 by 21.6%. Coming to the year-on-year movement of customers across various reported buckets: Customers with annual revenues greater than 75 million remained stable at 4. Those with USD 50 million plus annual revenue remained stable at 4. Customers in the USD 20 million plus category increased from 12 to 13. Those in USD 10 million plus category increased from 25 to 34. Customers in USD 5 million plus category increased from 56 to 60 and the customers in USD 1 million plus category increased from 191 to 280. This healthy movement of customers across various revenue brackets demonstrates our team's consistent ability in cultivating deeper, more resilient partnerships with customers over time. Now, coming to the details of our performance across various geographies. In terms of year-on-year growth this quarter in USD terms, North America revenue grew by 22.5%. Revenue in Europe declined 8.5% largely because of two client-specific events. One of our key clients in the European region was acquired by a larger strategic last year, which led to the ramp-down of our program with them over the last several quarters. Another engagement completed its planned ramp-down as a part of a fixed-price engagement. Both are one-off, client-specific events rather than a sign of broader geographic demand trends. Revenue in India grew by 19.4% and the rest of the world grew by 67% although on a smaller base. Coming to industry segments growth on a year-on-year basis. Th [Showing first 8,000 characters — download PDF for full document]