Updates

Happiest Minds Technologies Limited happiest minds Regd. Office: #53/1-4, Hosur Main Road, Madivala, Bengaluru-560068, Karnataka, India CIN of the Co. L72900KA2011PLC057931 Al FIRST. ACILE ALWAYS. P: +91 80 6196 0300, F: +91 80 6196 0700 Website: www.happiestminds.com Email: investors@happiestminds.com November 04, 2026 Listing Compliance & Legal Regulatory Listing & Compliance BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Dalal Exchange Plaza, Bandra Kurla Complex Street, Mumbai 400001 Bandra East, Mumbai 400 051 Stock Code: 543227 Stock Code: HAPPSTMNDS Dear Sir/Madam, Sub: Communication to Shareholders – Financial Results for the quarter and half year ended September 30, 2026 With reference to our letter dated November 02, 2026, please find enclosed herewith an e-mail communication dated November 04, 2026, pertaining to key highlights of the Company's performance for the quarter and half year ended September 30, 2026, which has been sent to all the shareholders whose Email IDs are registered with the Company/Depositories. This is for your information and records. Thanking you, Yours faithfully, For Happiest Minds Technologies Limited Praveen Kumar Darshankar Company Secretary & Compliance Officer Membership No. F6706 Dear Shareholders, Greetings from Happiest Minds Technologies Limited The Board of Directors of the Company at their meeting held on November 02, 2026, has approved the unaudited financial statements of the Company for the quarter and half year ended as on September 30, 2026. Please find the shareholder’s report on the financial results and related matters attached herewith. For further details, you can visit the Company’s website https://www.happiestminds.com/investors/ Thanking you, Yours faithfully, Praveen Kumar Darshankar Company Secretary & Compliance Officer Happiest Minds Technologies Limited Dear Stakeholder, We are pleased to share that your Company, Happiest Minds, continued its growth momentum in Q2 FY27, delivering healthy revenue growth and improved profitability, supported by disciplined execution and strong customer relationships. During Q2 FY27, your Company reported operating revenue of ₹645 crore, growing 12.5% year-on-year and 2.7% sequentially in rupee terms. In constant currency, revenue grew 6.8% year-on-year and 2.4% sequentially. H1 FY27 revenue stood at ₹1,274 crore, reflecting 13.4% year-on-year growth. Operating profit grew 22.4% year-on-year to ₹119.1 crore, with operating margin improving by 100 basis points sequentially to 18.5%. Adjusted PAT stood at ₹79.1 crore, with Adjusted EPS of ₹5.25. For H1 FY27, operating profit stood at ₹228 crore and Adjusted PAT at ₹159 crore. Your Company maintained a strong balance sheet, with annualized ROCE of 24.0% and ROE of 14.7%. Operationally, your Company served 311 active customers, including 95 billion-dollar corporations contributing approximately 60% of revenue. Repeat business stood at 95.1%, IP-led revenue at 10.5%, and utilization improved to 81.8%. Our workforce stood at 6,466 Happiest Minds. In line with our progressive dividend policy and strong performance, the Board has declared an interim dividend of ₹3.05 per equity share of face value ₹2, with November 6, 2026, as the record date. ITC Infotech also delivered a strong Q2 FY27 performance, with revenue growing 18.5% year-on-year and an adjusted EBITDA margin of 18.4%. Further details on its performance are available on its website. The proposed combination with ITC Infotech continues to progress within the indicated timelines, subject to requisite approvals. Upon completion, the combined enterprise is expected to bring together over 19,000 professionals, with an aspiration to achieve US$1 billion in annual revenue by FY28. Looking ahead, we reiterate our FY27 constant currency revenue growth guidance of 12.5% and remain focused on disciplined, profitable growth and creating sustainable long-term value for our shareholders. We thank you for your continued trust and support. For any queries, please write to IR@happiestminds.com. Yours faithfully, Venkatraman Narayanan Managing Director All amounts in ₹ Lakhs unless stated otherwise Key Financial Highlights Quarter ended September 30, 2026 • Revenue in INR terms ₹ 64,543 lakhs growing 2.7% q-o-q and 12.5% y-o-y • Revenue in constant currency grew 2.4% q-o-q and 6.8% y-o-y • Operating Revenues in US $ stood at $67.4 million, growing 1.8% q-o-q and 3.6% y-o-y • Total Income of ₹ 65,599 lakhs growing 2.1% q-o-q and 11.9% y-o-y • Operating Margins 11,911 lakhs growing 9.6% q-o-q and 22.4% y-o-y • Adjusted PAT of ₹ 7,911 Lakhs and Adjusted EPS at ₹ 5.25 Half Year ended September 30, 2026 • Revenue in INR terms ₹ 1,27,349 lakhs growing 13.4% y-o-y • Revenue in constant currency growing 6.7% y-o-y • Operating Revenues in US$ stood at $133.7 million, growing 3.3% y-o-y • Total income of ₹ 1,31,818 lakhs growing 12.2% y-o-y • Operating Margins 22,778 lakhs growing 17.1% y-o-y • Adjusted PAT of ₹ 15,963 Lakhs and Adjusted EPS at ₹ 10.59 Clients Our People – Happiest Minds 311 6466 Happiest Minds as of September 30, 2026 as of September 30, 2026 7 additions in the quarter Trailing 12-month attrition of 14.3% (15.4% % in the previous quarter) Utilization of 81.8%, from 81% in last quarter Q2 Key Wins For a Global AI-powered Digital Asset For India’s leading manufacturer of Management (DAM) platform company, commercial vehicles, Happiest Minds has been Happiest Minds has been selected as a strategic selected as a strategic technology partner for its AI-led technology partner to establish and scale next-generation connected vehicle platform, its Bengaluru GCC, with a transformation-led driving platform operations, automation and operating model focused on productivity, talent scalability as it advances its Software Defined enablement, and scalable delivery. Vehicle journey. For an Indian specialty steel manufacturer, For a Global electronics distributor, Happiest Happiest Minds has been selected as a strategic Minds has been selected as a cloud engineering transformation partner for SAP integrated partner for Azure administration, infrastructure production planning, scheduling, real-time WIP automation, cloud networking, and observability. visibility, operational dashboards and future AI- driven manufacturing capabilities. For a US skincare, beauty and personal care For a US healthcare TPA, Happiest Minds has manufacturer, Happiest Minds has been selected been selected as a Data & Analytics partner to as the strategic Managed Services Partner to implement data analysis, engineering and support its IT operations through a multi-year governance. engagement. Analyst Mentions ▪ Happiest Minds received recognition in ISG's Manufacturing Industry Services and Solutions 2026 ▪ Contender in Engineering Research & Development (ER&D) Services and Physical AI and Smart/Digital Factory Services (US Region) ▪ Product Challenger in Supply Chain and Aftermarket Services and Technology, Transformation and Consulting Services (US Region) ▪ Product Challenger in Technology, Transformation & Consulting Services and Contender in Engineering Research & Development (ER&D) Services (Europe) ▪ Happiest Minds is among Everest Group's Major Contenders in Insurance Claims Operations PEAK Matrix® Assessment 2026 ▪ Happiest Minds received recognition in ISG Provider Lens® for Generative AI Services 2026 (Global) ▪ Product Challenger in Strategy & Consulting Services - Midsize ▪ Product Challenger in Development & Deployment Services - Midsize ▪ Happiest Minds received recognition in ISG Provider Lens® for Agentic AI Services 2026 (Global) ▪ Contender in Agentic AI Development & Deployment Services - Midsize Extract of the Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026