Transcript of the Analyst Call/Investor Meet held on November 6, 2026.

November 11, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, Mumbai P.J. Towers, Dalal Street, Mumbai Kind Attn: Manager, Listing Department Kind Attn: Manager, Listing Department Stock Code – SONATSOFTW Stock Code - 532221 Dear Sirs/Madam, SUB: TRANSCRIPT OF ANALYSTS/INVESTORS CALL REF: REGULATION 46(2)(OA) OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 Further to our disclosures dated 30th October, 2026 and 6th November, 2026, please find enclosed Transcript of Analyst/Investor call of the Company held on 6th November, 2026. The same is also made available on the website of the Company at https://www.sonata-software.com/about-us/investor-relations. We request you to kindly take the same on record. Thanking you, Yours faithfully, For Sonata Software Limited Mangal Kulkarni Company Secretary, Compliance Officer and Head Legal Encl.: As above Sonata Software Limited - SSL Registered Office: 208, T V Industri al Estate, 2nd Floor, S K Ahire Marg, Worli, Mumbai – 400 030 W: www.sonata-software.com Corporate Office: Tower-A, Sonata Towers, Global Village (Sattva Global City), RVCE Post, Kengeri Hobli, E: info@sonata-software.com Mysore Road, Bengaluru - 560059, India T: +91 80 6778 1000 CIN: L72200MH1994PLC082110 “Sonata Software Limited Analyst and Investor Conference Call Q2 FY2027” November 6, 2026 Management: Mr. Rajsekhar Datta Roy – Chief Executive Officer of International Services Mr. Sujit Mohanty – Chief Executive Officer of Domestic Business Mr. Jagannathan C. N. – Chief Financial Officer Page 1 of 16 Sonata Software Limited November 6, 2026 Moderator: Hello everyone, my name is Inba. I will be moderating today's session. Welcome to the Sonata Software Limited Analyst and Investor Conference Call for the Q2 of FY 2027, ended September 30, 2026. Please note all participants will be in the listen only mode and this call is being recorded. We have with us today on the call Mr. Rajsekhar Datta Roy, CEO of International Services, Mr. Sujit Mohanty, CEO of Domestic Business, and Mr. Jagannathan CN, Chief Financial Officer. We also have our extended leadership team on the call. Please note that there will be an opportunity for all participants to ask questions after the management's opening remarks. During the call, please note that the management may make certain forward-looking statements that involve risks, assumptions, and are based on information currently available to the management. Sonata does not undertake any obligation to update any forward-looking statements that may be made in the course of this call. We advise participants to exercise discretion while making any investment decisions. We will begin the opening remarks from Mr. Rajsekhar followed by the business overview and financial highlights. After that, we will open the floor for questions. With that, I hand the call over to Mr. Rajsekhar for his opening remarks. Over to you, Sir. Rajsekhar Datta Roy: Good afternoon, everyone, and ladies and gentlemen, good day, and thank you for joining us today. We value your time and your continued trust in Sonata. I will just quickly cover what we did in the past quarter and before that, I want to probably set a context that in Q1, we said that we are setting a direction to be an AI native engineering organization and how to engineer the AI enterprise with outcome-led business transformation and AI first technology platforms and AI native service delivery. We are continuing that path, and in Q2, we have made some progress, which I will give you a quick summary. You would have noticed that we have grown in revenues despite a drop in one of our top accounts, so that shows the resilience that we have built into the current one. In Q2, we have made progress on multiple fronts. One, I think, has been to take our new offerings to our top clients, and we see traction building up in terms of order book and pipeline around that. We have also taken our new offerings to our partners, and we see increasing traction around that and demand from our new clients. We also have created a framework to evaluate whatever gaps we have in our execution capability, and we are systemically addressing the gaps so that we have a structural model to scale this business. We have also seen that the quality of engagement in terms of volume of business as well as the nature of business has improved in our midsized accounts. Now, of the six new horizontal offerings that we have, three of them provide about 61% of an additional pipeline that we have injected and that includes legacy modernization, AI-powered engineering, and AI-ready data. This is aligned to what we had planned as a part of our game plan. We have also strengthened our partnership with Microsoft, both Sell-To and Sell-With, and we have revamped the leadership in the past quarter. We now see early signs of traction and growth in each of these areas, both in Sell-To and Sell-With. In especially Sell With, we have seen that we have moved into adjacent areas of growth, and that is working well, and Page 2 of 16 Sonata Software Limited November 6, 2026 we hope to see positive momentum around this in the subsequent quarters. In the Sell With area we have got new partner, we are a co-pilot dev partner now. We are a Frontier partner and this year, again, we have been nominated as an Inner Circle partner, and we are trying to build strategic partnerships around data. So that works well, again, for the future. We have also significantly enhanced our Harmoni.ai offerings across AI native service delivery as enterprise workbench. We have now Harmoni.ai migration studio to address legacy modernization and we have AgentBridge for handling process transformation apart from AI-ready data and resilient AI backbone. All these are fundamental to generating value first transformation of enterprises to AI. So, we have now seen that we have been able to take some of these offerings, especially the enterprise workbench, and be able to monetize them by actually taking them to clients, delivering work and able to see value both for ourselves and our clients. Two quick examples one is a global quick service restaurant chain. We helped in modernizing and we were able to cut down about 35% of the time to deliver as well as reduction in effort and that has been highly appreciated, and we hope to get further business around legacy modernization from the same account. In the US healthcare benefits and claims leader, we have expedited the velocity of delivery by about 40% and that also is becoming a long-term engagement with us. This proves that some of the assets that we built in the past quarter can in a real world enterprise scenario create value for our clients and which hence builds us a platform to scale them further. We had four key new wins. One was a large deal. Again, this all came in our chosen vertical largely, which is Agri, Pharma and specialty retail. One of them was a large deal, which was around the cloud modernization and that is a US food service equipment provider for the retail and quick services restaurants. We continue to build on our AI capabilities in terms of delivery, people, and partnerships. We now have a growing pool of AI certified architects, partnerships, and FDEs who are trained and deployed on our private data. We have also significantly moved up our training on the Sonata modernization engineer along with our Frontier platform. So, we have readiness to deliver to the new offerings that we are building. We have also made progress on the sub- verticals that we had started in the last quarter and we have made progress on three areas. One is mortgage and lending, Pharma and Medtech and agri. We are also enhancing our customer engagement and experience area. With all this, we think that we expect a positive growth momentum in the coming quarters, despite some headwinds typical of Q3 in isolated one or two verticals. We continue to [Showing first 8,000 characters — download PDF for full document]