General Updates

Happiest Minds Technologies Limited Regd. Office: #53/1-4, Hosur Main Road, Madivala, Bengaluru-560068, Karnataka, India CIN of the Co. L72900KA2011PLC057931 P: +91 80 6196 0300, F: +91 80 6196 0700 Website: www.happiestminds.com Email: investors@happiestminds.com August 04, 2026 Listing Compliance & Legal Regulatory Listing & Compliance BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai 400 001 Bandra East, Mumbai 400 051 Stock Code: 543227 & 975101 Stock Code: HAPPSTMNDS Dear Sir/Madam, Sub: Transcript of 15th Annual General Meeting held on July 28, 2026 Please find enclosed the transcript of the 15th Annual General Meeting of the Company held on July 28, 2026. The Transcript has been uploaded on the Company’s website https://www.happiestminds.com/investors 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 Transcript of Annual General Meeting (“AGM”) of Happiest Minds Technologies Limited held on July 28, 2026 from 4.00 PM (IST) to 5.20 PM (IST) through video conferencing Directors and KMPs present Mr. Ashok Soota Chairman & Chief Mentor (Bengaluru, India) Mr. Joseph Anantharaju Co-Chairman & CEO (Bengaluru, India) Mr. Venkatraman N Managing Director (Bengaluru, India) Mr. Rajendra Kumar Srivastava Lead Independent Director (Austin, Texas, USA) Ms. Anita Ramachandran Independent Director (Bengaluru, India) Ms. Shuba Rao Mayya Independent Director (Bengaluru, India) Mr. Mittu Sridhara Independent Director (London, UK) Mr. Anand Balakrishnan Chief Financial Officer (Bengaluru, India) Mr. Praveen Kumar D Company Secretary & Compliance Officer (Bengaluru, India) Other Invitees in attendance Mr. Girish Bagri (Partner) M/s. Deloitte Haskins & Sells Ms. Priyanka Jain (Manager) Statutory Auditors (Bengaluru, India) Mr. V Sreedharan (Partner) M/s. V Sreedharan & Associates Mr. Pradeep B. Kulkarni (Partner) Secretarial Auditor/Scrutinizer (Bengaluru, India) Members present: A total of 53 members attended the meeting. Proceedings: Chairman Dear members and invitees. Good evening. I am Ashok Soota, Chairman and Chief Mentor of Happiest Minds. I have joined the meeting from my Happiest Health Office in Bengaluru. On behalf of the Board of Directors, I take pleasure in welcoming all of you to the 15th Annual General Meeting of the members of Happiest Minds Technologies Limited. I trust that all of you and your family are safe and healthy. This is the sixth Annual General Meeting of the Company after we listed on NSE and BSE. As of record date, I am happy to state that the Happiest Minds family of investors is at 650,000+, and I would like to extend a warm welcome to each of you. The Company has taken all feasible efforts under the current circumstances to enable members to participate through video conference and vote on the items being considered for the meeting. Now, with the requisite quorum of shareholders being present, I call this meeting to order. We also have with us representatives from Statutory Auditors, Secretarial Auditors, and the Scrutinizer. I would now request my colleagues on the Board to introduce themselves and confirm the place from where they are attending this meeting. Let me start with our Independent Director, Mr. Rajendra Srivastava. Rajendra Kumar Good afternoon, this is Rajendra Srivastava, Independent Director. I'm calling from Srivastava my home Office in Austin, Texas, and I can hear everybody clearly, and thank you for the connection. Thank you. Chairman Thank you, Raj. Then next, can I request Shuba? Shuba Rao Hi this is Shuba Mayya here. I'm an Independent Director in Happiest Minds, and Mayya I have logged in from my home office in Bengaluru. Thank you. Chairman Thank you, Shuba. And then we have Joseph. Joseph Hi, this is Joseph here, the Co-Chairman and CEO of Happiest Minds. I'm taking Anantharaju this call from our Boardroom in the Office in Madivala, Bengaluru. Chairman Venkat? Venkatraman Hi, good evening. My name is Venkatraman. I'm an Executive Director and Narayanan Managing Director of the Company. I'm taking this call from my residence at Bengaluru. Chairman Okay, very good. Now, with the introductions done and confirmation of attendance done, I now request the Company Secretary, Praveen, to provide general instructions to members regarding participation Company Thank you, Ashok. Good evening to all. I am Praveen Kumar Darshankar, Company Secretary Secretary and Compliance Officer. I am joining this meeting from my residence at Bengaluru. Members may note that this meeting is being held through video conference in accordance with the circulars issued by MCA and SEBI. A Facility for joining this meeting through video conference has been made available for members on a first-come, first-serve basis. All members who have joined are by default placed on mute by the moderator. When the session on question and answer commences, the speaker member will be unmuted by the moderator. Members may also note that the Company reserves the right to limit the number of members asking questions depending on the availability of time. The Register of Directors and Key Managerial Personnel and their shareholding, the Register of Contracts or Arrangements in which the Directors are interested and the certificate from the Secretarial Auditors of the Company under the SEBI share- based Employee Benefits and Sweat Equity Regulations 2021 are available electronically for inspection by the members during the meeting. Members seeking to inspect such documents can send their requests to investors@happiestminds.com. We have provided a facility to cast your vote electronically on all resolutions set forth. Members who have not cast their votes will have an opportunity to cast their votes upon declaration by the Chairman about the commencement of e- voting at the meeting through InstaPoll. Members may click on the vote sign on the left-hand bottom corner of their video screen for voting at the meeting. Members are requested to refer to the instructions provided in the Notice or appearing on the video conference page for seamless participation through video conference. In case members face any difficulty, they may reach out on the helpline numbers given in the Notice. Now I request the Chairman to start the proceedings. Over to you, Ashok. Chairman Dear Stakeholders, Happiest Minds was founded on the belief that technology should create lasting value for customers, employees, shareholders, and society. As we enter an era shaped by artificial intelligence, this belief remains unchanged. The IT services industry experienced a challenging environment through FY26— macroeconomic uncertainty, evolving tariff regimes, geopolitical developments that impacted enterprise technology spending. At the same time, the rapid advance of artificial intelligence has really emerged as a major— a defining structural shift. FY26 also marked an inflection point with enterprise AI initiatives moving decisively from pilots to scale production deployments across industries. Incidentally, I'm getting an echo here which I didn't get when Praveen was speaking, so maybe somebody at the backend can look at this. I don't know if others are getting that. In this context, we delivered FY26 revenues of ₹2,315 crores, growing by 12.3% with operating profit of ₹401 crores growing 12.3% and adjusted PAT of ₹278 crores growing 9.4%. These results demonstrate the resilience of our business model and the effectiveness of our strategic initiatives in a challenging environment. The 10 strategic initiatives announced in FY25 enabled us to deliver approximately 10% organic growth, and this was at a time when several industry participants reported low, flat, or negative growth. Building on this foundation, we launched our 11th strategic transformation in [Showing first 8,000 characters — download PDF for full document]