Investor Presentation

INDGN/SE/2026-27/65 29 October 2026 BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai- 400001, India. Mumbai – 400 051, India. Scrip Code: 544172 Trading symbol: INDGN Dear Sir / Madam, Subject: Analyst presentation and fact sheet - financial results for the 2nd quarter and half year ended September 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the Analyst presentation and fact sheet with respect to financial results for the 2nd quarter and half year ended September 30, 2026, are hereby enclosed. The above information will be made available on the website of the Company: https://www.indegene.com/ We request you to kindly take the same on record. Thanking You Yours Sincerely, For Indegene Limited Srishti Ramesh Kaushik Company Secretary and Compliance Officer Encl: A/a Indegene Limited Third Floor, Aspen G-4 Block, Manyata Embassy Business Park (SEZ), Outer Ring Road, Nagawara, Bengaluru- 560 045, Karnataka, India Phone: +91 80 4674 4567, +91 80 4644 7777 compliance.officer@indegene.com www.indegene.com CIN: L73100KA1998PLC102040 Investor Presentation Q2’FY27 Disclaimer This presentation may include opinions and assumptions about future performance which could be considered as forward-looking statements. Forward-looking statements intrinsically cover several risks and uncertainties, which may lead to a material difference between actual results and the statements themselves. Such statements comprise the company’s current visibility on market movements, client discussions, and related factors. Indegene Limited does not assume an obligation to update or revise any forward-looking statements. © 2026 Indegene. All rights reserved. 2 Quarterly Performance Q 2’FY27 Acceleration in growth with stable margin RE VE N U E FROM OPE RAT ION S RE VE N U E PE R E MPL OYE E INR 11,223 M USD 117.5 M $ 7 9 . 6 K 39.5% 5.6% 27.5% 4.4% 15.5% 3.3% YoY in INR QoQ in INR YoY in USD QoQ in USD YoY QoQ E B I T D A P A T D S O ₹ 1,873 M ₹ 1,123 M 69 Days 16.7% of Revenue 10.0% of Revenue ▲ 32.0% YoY ▲ 4.4% QoQ ▲ 10.0% YoY ▼3.4% QoQ  2 days YoY ▲ 2 days QoQ © 2026 Indegene. All rights reserved. 3 Continued momentum in Revenue Growth in INR and USD INR 21,854 M +39.6% +27.0% H1’FY27 Revenue from Operations H1’FY27 Revenue Growth YoY in INR H1’FY27 Revenue Growth YoY in USD REVENUE (INR M) REVENUE (USD M) ▲ 39.5% YoY ▲ 27.5% YoY 11,223 117.5 10,631 109.7 112.5 10,034 106.1 9,421 92.2 8,042 Q2’FY26 Q3’FY26 Q4’FY26 Q1’FY27 Q2’FY27 Q2’FY26 Q3’FY26 Q4’FY26 Q1’FY27 Q2’FY27 © 2026 Indegene. All rights reserved. 4 Both Engines firing together leading to Growth acceleration Deeper penetration of top accounts and a wider, taller client pyramid are compounding revenue growth Deeper Engagement with Large Customers Broader Targeting — Wider, Taller Pyramid ❑Top-10 clients up 13.5% QoQ ❑$1M+ clients more than doubled from 28 in FY22 to 59 in Q2’FY27 ❑New solutions expanding scope aid gaining wallet share ❑GTM investments are paying off: new client addition at a faster pace ₹7,552M ₹3,529M 25.3% 56.3% 107 59 Top-20 revenue Top-5 revenue Q2’FY27 Revenue from Q2’FY27 Revenue from Active clients(2) $1M+ clients Q2 FY27 Q2 FY27 Global Top-10 Pharma Global Top-20 Pharma Q2 FY26: 76 – 31 new additions Q2 FY26: 40 – 19 new additions companies (1) companies (1) Revenue from Top-5 & Top-20 customers (₹ M) Growing accounts by revenue tier (count of clients) $1M–$10M $10M–$25M $25M+ Top 20 Top 5 28,003 24,259 21,657 22,082 2 19,321 3 3 11 14,320 2 11,344 11,984 11,347 12,078 13,008 4 3 8 9,176 3 4 6 2 43 42 46 23 26 26 FY22 FY23 FY24 FY25 FY26 Q2 FY27 TTM FY22 FY23 FY24 FY25 FY26 Q1'FY27 Q2 FY27 1. Global Top-10 and Top-20 global pharma companies ranked by 2025 revenue. 2. Active clients with revenue of $0.25 M or more over the trailing twelve months rounded off to nearest thousands. © 2026 Indegene. All rights reserved. 5 Q2 Margins held firm, drivers in place for Expansion EBITDA MARGIN · Q2 FY27 16.7% PBT MARGIN · Q2 FY27 13.1% Held near Q1 despite the wage hike Absorbed a near-term yield dip EBITDA margin walk (%) PBT margin bridge (%) ETR steady: 23.8% (Q1: 23.9%) Annual wage increase now fully in the base; levers build into Q4 Q2 yield impact after the US rate hike: 90 bps on PBT, 70 bps on PAT Yield expected to ₹56M reduction improve 16.9% −150 bps +45 bps 16.7% 13.1% +85 bps Q1 FY27 Wage hike Workforce Exchange rate Q2 FY27 Q4 FY27 Q2 FY27 Interest income Depreciation & Q4 FY27 transformation & amortisation op. leverage Tailwinds + + + + into H2 FY27 Ramp-up of Tectonic & Productivity gains and Higher yields expected D&A to reduce by ₹56M outcome-based deals operating leverage and more held-to- per quarter in Q3 & Q4 ● EBITDA ● PBT maturity allocation vs Q2 © 2026 Indegene. All rights reserved. 6 Q2’FY27 Business Highlights Expanding customer base | Improving revenue productivity | Strengthening global delivery Customer Growth & Productivity Global Delivery Excellence ACTIVE CLIENT RELATIONSHIPS⁽¹⁾ 107 HEALTHCARE DELIVERY EXPERTISE 28.8% Clients served Share of delivery team with domain skills Q2’FY26 : 76 ▲ 31 new clients | 40.8% Q2’FY26 : 26.3% ▲ 250 bps YoY CLIENTS WITH $1M+ REVENUE 59 VOLUNTARY ATTRITION (TTM) 15.4% Deepening wallet share Improving retention signals Q2’FY26 : 40 ▲ 19 new addition | 47.5% Q2’FY26 : 16.2% ▼ 80 bps improvement REVENUE PER EMPLOYEE $79.6K TOTAL / DELIVERY EMPLOYEES 5,952 / 5,090 Operating leverage driver Scaling global delivery capacity Q2’FY26 : $68.9K ▲ 15.5% YoY Q2’FY26 : 5,245 / 4,523 ▲ 13.5% / 12.5% YoY (1) Active clients with revenue of $0.25 M or more over the trailing twelve months rounded off to nearest thousands © 2026 Indegene. All rights reserved. 7 Management Commentary on Q2 FY’27 results Extending our strong start to FY27, Q2 revenue grew 5.6% Despite the annual wage increase that takes effect in our second sequentially in INR, our fifth successive quarter above 5%. Growth quarter, EBITDA margin remained stable at 16.7%, a marked was broad-based, driven by expansion across our top 5 and top 20 improvement on historical Q2 margin trends. Profit after tax grew accounts and an increase in the number of $1 million+ clients to 59. 10% YoY to INR 1,123 million. With the wage increase now fully We recorded significant deal wins in GenAI-enabled transformation reflected in our cost base, we expect EBITDA to grow faster than and upstream engagements. With a healthy pipeline, sustained deal revenue in the coming quarters. In addition, higher yields on our momentum and favourable industry tailwinds, we expect growth investments and lower amortization should help PAT margin expand and margin expansion to come together in the second half. faster than EBITDA margin. Manish Gupta Suhas Prabhu Chairman and Chief Executive Officer Chief Financial Officer © 2026 Indegene. All rights reserved. 8 Indegene is a new category – not a better version of an old one Embedded Revenue Partner $79.6K • Operate in clients' revenue-generating engine: Commercial & Med teams behind launches, brands & growth REVENUE / EMPLOYEE • Sit on growth-side budgets, not IT cost budgets; less exposed to cost-cutting cycles — HIGHEST IN • Productivity-benefit gets redeployed as increased volume: personalized content and more channels INDUSTRY Deep Domain Expertise D ~29% • With over 27 years of experience in life sciences, we are deeply integrated in client workflows • Manage critical workflows requiring high degree of domain expertise and regulatory compliance EMPLOYEES FROM • Judgment-intensive work where GenAI compounds domain knowledge rather than replacing it HEALTHCARE GenAI Disruptor • Pharma companies face complexity explosion (content volume & regulatory compliance) & fragmented non-standardized G models resulting in efforts to centralize operations • Our AI-ena [Showing first 8,000 characters — download PDF for full document]