Investor Presentation

Ref: MPSL/SE/79/2026-27 Date: 03 November 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot no. C/1, Department of Corporate Services G Block, Bandra – Kurla Complex, Bandra Phiroze Jeejeebhoy Towers (cid:4666)East(cid:4667), Mumbai - 400 051, India Dalal Street, Mumbai- 400001, India Symbol: MPSLTD Scrip Code: 532440 Dear Sir/ Madam, Sub: Investor/ Analysts’ Earnings Presentation on the Unaudited Financial Results of MPS Limited for the quarter and half year ended 30 September 2026 Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (cid:4666)Listing Obligations and Disclosure Requirements(cid:4667) Regulations, 2015, we wish to inform you that the Investor/ Analysts’ Earnings Presentation on the Unaudited Financial Results of MPS Limited (cid:4666)the “Company”(cid:4667) for the quarter and half year ended 30 September 2026 is enclosed herewith. The aforesaid presentation is also being made available on the Company’s website under the “Investor Presentation FY 2026-2027” section at https://www.mpslimited.com/investors- overview/. This is for your information and records. Yours Faithfully, For MPS Limited Piyush Jain Company Secretary and Compliance Officer Encl: As above Earnings Presentation Q2 & H1 FY27 Quarter and half year ended 30 September 2026. Build the future of how the world discovers and learns. www.mpslimited.com Disclaimer This presentation contains forward-looking statements, inter-alia, to enable investors to comprehend Company’s prospects and take informed investment decisions. This report and other statements, written and oral, that we periodically make, contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is, inter-alia, subject to assumptions, risks, uncertainties, including but not limited to our ability to successfully conclude and integrate (potential) acquisition(s) and general regulatory and economic conditions affecting the industry. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated, expected or projected. We undertake no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise. Further this presentation may also contain references to findings of various reports available in public domain. We make no representations as to their accuracy or that we necessarily subscribe to those findings. Figures for previous periods / year have been regrouped, wherever necessary. © 2026 | 2 | www.mpslimited.com Earnings growing faster than revenue Over six quarters, revenue grew 20% and EBITDA 53%, with margin above 34% for two straight quarters. QUARTERLY REVENUE AND EBITDA (INR CR) WITH EBITDA MARGIN SIX-QUARTER GROWTH Q1 FY26 to Q2 FY27 Revenue (INR Cr) EBITDA (INR Cr) EBITDA margin (%) Revenue EBITDA 34.3% 34.3% 32.9% 31.1% 31.6% +20.4% +53.2% 27.0% 300 EBITDA INR 50.3 Cr to INR 77.0 Cr 250 H1 FY27 VS H1 FY26 224.2 224.3 Year-on-year growth 205.2 194.4 Revenue EBITDA 200 186.3 182.5 +17.8% +39.0% Revenue INR 448.5 Cr; EBITDA INR 154.0 Cr 100 EBITDA MARGIN 77.0 77.0 67.5 Q1 FY26 vs Q2 FY27 60.5 57.6 50.3 50 Q1 FY26 Q2 FY27 27.0% 34.3% +7.3 points, the highest margin in MPS history Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 © 2026 | 3 | www.mpslimited.com FINANCIAL PERFORMANCE Q2 FY27 Q2 FY27 highlights: earnings compounding Revenue up 15.35% and EBITDA up 27.39% YoY, at the highest margin in MPS history: 34.34%. REPORTED REVENUE EBITDA Q2 FY27, YoY Q2 FY27, YoY +15.35% +27.39% INR 22,429 Lakhs vs INR 19,444 Lakhs in Q2 FY26 INR 7,703 Lakhs vs INR 6,047 Lakhs; margin 34.34% vs 31.10% Education +30.03%, Corporate Learning +17.01% PBT EXCL. EXCEPTIONAL ITEMS RESEARCH SOLUTIONS (EXCL. AJE) Q2 FY27, YoY Q2 FY27, YoY +23.14% +21.71% INR 6,940 Lakhs vs INR 5,636 Lakhs. INR 10,400 Lakhs vs INR 8,545 Lakhs, with EBITDA margin at 49.25% vs 46.35% © 2026 | 5 | www.mpslimited.com Q2 FY27 performance: record EBITDA Metrics Q2 FY27 Q2 FY26 YoY Var% Q1 FY27 QoQ Var% Reported Revenue (INR Lakhs) 22,429 19,444 15.35% 22,424 0.02% EBITDA (INR Lakhs) 7,703 6,047 27.39% 7,696 0.09% EBITDA (%) 34.34% 31.10% 3.24% 34.32% 0.02% PBT excl. exceptional items (INR Lakhs) 6,940 5,636 23.14% 6,983 -0.62% PAT (INR Lakhs)* 5,210 5,544 -6.04% 5,039 3.37% PAT (%)* 23.22% 28.51% -5.29% 22.47% 0.75% Headcount 3,557 3,200 11.16% 3,352 6.12% Basic EPS (INR)* 30.70 32.67 -6.03% 29.70 3.37% Diluted EPS (INR)* 30.64 32.64 -6.13% 29.69 3.20% *Q2 FY26 performance include one-time net exceptional income of INR 1,281 Lakhs (liability write-back on 100% acquisition of Liberate Group). Total cash and cash equivalents as on 30-Sep-2026 stood at INR 16,323 Lakhs. Borrowings taken for the Unbound Medicine acquisition were prepaid in full in August 2026; the company has zero debt. Operating leverage (YoY): revenue grew 15.35%, EBITDA grew 27.39% and headcount rose 11.16%. Earnings: PBT excluding exceptional items grew 23.14% YoY; basic EPS at INR 30.70. © 2026 | 6 | www.mpslimited.com Excluding AJE: core momentum continues Faster growth with expanded margins Metrics Q2 FY27 Q2 FY26 Variance YoY Reported Revenue (INR Lakhs) 19,847 16,031 23.80% EBITDA (INR Lakhs) 6,572 5,016 31.02% EBITDA (%) 33.11% 31.29% 1.82% Headcount 3,456 3,071 12.54% CORE MOMENTUM Excluding AJE, which is resetting by design, revenue scaled to INR 19,847 Lakhs (23.80% YoY), with EBITDA up 31.02% YoY to INR 6,572 Lakhs. EBITDA margin expanded 1.82 points to 33.11%. © 2026 | 7 | www.mpslimited.com Research financials: margin compounding at scale Robust revenue growth with a sharp expansion in segment margin Q2 FY27 Q2 FY26 Variance YoY Metrics With AJE Excl. AJE With AJE Excl. AJE With AJE Excl. AJE Reported Revenue (INR Lakhs) 12,982 10,400 11,958 8,545 8.56% 21.71% EBITDA (INR Lakhs) 6,253 5,122 4,992 3,961 25.26% 29.31% EBITDA (%) 48.17% 49.25% 41.75% 46.35% 6.42% 2.90% Headcount 2,666 2,565 2,259 2,130 18.02% 20.42% SCALING RESEARCH REVENUE AI IN PRODUCTION MARGIN COMPOUNDING Q2 revenue up 8.56% YoY to INR 12,982 AI-enabled production and quality workflows Segment EBITDA up 25.26% YoY on Lakhs; excluding AJE, revenue up 21.71% to are now live in client delivery, moving revenue up 8.56%; excluding AJE, EBITDA INR 10,400 Lakhs customers onto modern, higher-productivity up 29.31% with margin at 49.25% vs 46.35% platforms © 2026 | 8 | www.mpslimited.com AI is widening our margins as volumes grow Research work is priced on output, so the productivity AI brings shows up in margin RESEARCH SOLUTIONS EBITDA MARGIN EBITDA PER EMPLOYEE Q2 FY27 vs Q2 FY26 Q2 FY27, YoY 48.17% +14.6% Up 6.42 points YoY while segment revenue grew 8.56%; 49.25% INR 2.17 Lakhs per employee in the quarter vs INR 1.89 Lakhs in Q2 excluding AJE FY26 PEER REVIEW AT SCALE NEW JOURNALS FROM OUR LARGEST CUSTOMER Won in Q2 FY27 Awarded in Q2 FY27 110,000+ 42 Annual submissions a top-five global publisher is moving to our Journal With 25 more journals due to onboard in Q3, and a new research Editorial Office between September and December integrity mandate billing from November © 2026 | 9 | www.mpslimited.com Education financials: scale with Unbound Medicine Metrics Q2 FY27 Q2 FY26 Variance YoY Reported Revenue (INR Lakhs) 6,868 5,282 30.03% EBITDA (INR Lakhs) 2,089 2,225 -6.11% EBITDA (%) 30.42% 42.12% -11.71% Headcount 755 773 -2.33% SECOND GROWTH PILLAR UNBOUND [Showing first 8,000 characters — download PDF for full document]