Annual Report for the FY 2025-26 and Notice convening the 56th Annual General Meeting of the Company.

Ref: MPSL/SE/52/2026-27 Date: 13 August 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 (East), Phiroze Jeejeebhoy Towers Mumbai - 400 051, India Dalal Street, Mumbai- 400001, India Symbol: MPSLTD Scrip Code: 532440 ISIN: INE943D01017 ISIN: INE943D01017 Dear Sirs, Sub: Annual Report for the Financial Year 2025-26 and Notice convening the 56th Annual General Meeting This is further to our communication regarding the 56th Annual General Meeting (“AGM”) of the Company, scheduled to be held on Friday, 04 September 2026, at 05:00 P.M. (IST), through Video Conferencing (VC)/Other Audio Visual Means (OAVM), in compliance with the relevant circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI) from time to time. In accordance with Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), we are hereby submitting the Annual Report of the Company for the financial year 2025–26, including the Business Responsibility and Sustainability Report, along with the Notice convening the 56th AGM. The same is being sent to the Members via electronic mode. The Notice convening the 56th AGM along with the Annual Report for the financial year 2025-26 is also available on the Company’s website www.mpslimited.com under the head “Investors”. Further, pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, a letter providing the web-link of the Annual Report is being sent to those members who have not registered their e- mail addresses, and the same is also available on the Company’s website www.mpslimited.com under the head “Investors”. We request you to kindly take the same on record. Thanking you, Yours Faithfully, For MPS Limited Raman Sapra Company Secretary and Compliance Officer Encl: As Above www.mpslimited.com Registered Office: Block-B6, 3rd Floor, Gateway Office Parks, No. 16, G.S.T Road, Perungalathur, Chennai, Tambaram, Kanchipuram, Tamil Nadu-600063, Email: info@mpslimited.com Corporate Identification Number: L22122TN1970PLC005795 The Engine of Knowledge Pioneering how the world discovers and learns MPS LIMITED 56TH ANNUAL REPORT 2025 – 26 CONTENT ENGINEERING • PLATFORM TECHNOLOGY • AI TABLE OF CONTENTS Corporate Overview 2 Vision 2027 3 FY26 at a Glance 4 The Engine of Knowledge 6 Chairman and CEO's Letter 8 Corporate Information Forward-looking 9 Environmental, Social, and Governance 10 Board of Directors Statements 14 About MPS Limited 19 Triple E Values 20 Our Story Some of the information in this report may contain 22 ESOP Plan forward-looking statements, which include statements 24 Leaving a Global Footprint regarding the Company’s expected financial 26 Management Discussion and Analysis position and results of operations, business plans and prospects, etc. They are generally identified by Statutory Reports forward-looking words, such as “believe”, “plan”, “anticipate”, “continue”, “estimate”, “expect”, “may”, 36 Directors’ Report “will”, or other similar words. Forward-looking 68 Business Responsibility and statements are dependent on assumptions or the Sustainability Report basis underlying such statements. We have chosen 106 Report on Corporate Governance these assumptions or basis in good faith, and we believe that they are reasonable in all material Financial Section respects. However, we caution that the actual results, performances or achievements could differ materially Standalone Financial Statements from those expressed or implied in such forward- 140 Independent Auditor’s Report looking statements. We undertake no obligation to update or revise any forward-looking statement, 154 Balance Sheet whether as a result of new information, future events, 155 Statement of Profit & Loss or otherwise. 156 Cash Flow Statement 158 Statement of Change in Equity 160 Notes Forming Part of the Financial Statements Consolidated Financial Statements 228 Independent Auditor’s Report 240 Balance Sheet 241 Statement of Profit & Loss 242 Cash Flow Statement 244 Statement of Change in Equity 246 Notes Forming Part of the Financial Statements Notice 313 Notice of the 56th Annual General Meeting Vision 2027: INR 1,500 crore in revenue by FY28 EBITDA (INR crore), at EBITDA margins similar to 30 percent EBITDA CAGR, Actuals stepped up from Target between FY21and FY26 between FY23 and FY28 Excellence • Empathy • Efficiency Excellence • Empathy • Efficiency FY21 FY22 FY23 FY24 FY25 FY26 FY28 VISION MPS has compounded EBITDA at roughly 17 percent a year since FY21. Vision, strategy, and execution are now lifting that rate FYtowa2rd th6e FY 28a targte t, aat EB ITgDA mlaarginsn simiclar eto 30 percent, underpinning the INR 1,500 crore revenue ambition. 2027 The most profitable year in MPS’ history, and the momentum beneath the headline runs stronger still. Our core mission is to build the future of INR 236 Cr 30.7% INR 173 Cr 38.2% how the world discovers and learns EBITDA, up 11.8% EBITDA margin, PAT, up 16.3% Return on Capital up 170 bps Employed (ROCE)* Vision 2027, set in 2022, aimed to make year. What has changed is the rate. Vision set *ROCE is defined as EBIT before exceptional items pertaining to Liberate Group/Average Capital Employed. MPS the provider of choice in its markets by the destination. Strategy focused the portfolio Capital Employed = Net Worth + External Borrowing pairing discovery and experiential learning on higher-value, recurring work. Execution with cutting-edge technology. Last year, many turned that focus into margin. All of these Record EPS of INR 102.11 • Revenue INR 768 Cr • Net cash balance sheet INR 113.75 Cr perspectives converged into one vision. This together lifted our rate of compounding. At FY27 EBITDA guidance above INR 300 Cr year, that vision became one engine, producing our current run rate, we expect to comfortably many outcomes. We are past the midpoint of surpass INR 300 crore of EBITDA in FY27, and The headline revenue number understates the year’s performance. Vision 2027 and ahead of plan. are on the way to a projected INR 450 crore Beneath it, the engine ran far harder. by FY28 at margins similar to 30 percent, and MPS has always compounded. Since FY21, revenue toward INR 1,500 crore. EBITDA has grown at roughly 17 percent a FY26 revenue growth: 28.6% the engine beneath Vision 2027: INR 1,500 crore in revenue by FY28 the headline EBITDA (INR crore), at EBITDA margins similar to 30 percent 17.0% EBITDA CAGR, Actuals 15.4% stepped up from Target between FY21and FY26 5.7% between FY23 and FY28 157 Group Group Research Education 126 reported ex-AJE organic organic FY21 FY22 FY23 FY24 FY25 FY26 FY28 1100+ 20+ yrs 1 million+ 200+ MPS has compounded EBITDA at roughly 17 percent a year since FY21. Vision, strategy, and execution are now lifting that rate Marquee Average Manuscripts AI engineers toward the FY28 target, at EBITDA margins similar to 30 percent, underpinning the INR 1,500 crore revenue ambition. customers STAR client processed by in MPS Labs relationship our AI 2 | Annual Report 2025–26 Annual Report 2025–26 | 3 INR 236 Cr 30.7% INR 173 Cr 38.2% EBITDA, up 11.8% EBITDA margin, PAT, up 16.3% Return on Capital up 170 bps Employed (ROCE)* *ROCE is defined as EBIT before exceptional items pertaining to Liberate Group/Average Capital Employed. Capital Employed = Net Worth + External Borrowing Record EPS of INR 102.11 • Revenue INR 768 Cr • Net cash balance sheet INR 113.75 Cr FY27 EBITDA guidance above INR 300 Cr The headline revenue number understates the year’s performance. Beneath it, the engine ran far harder. FY26 revenue growth: 28.6% the engine beneath the headline 17.0% 15.4% 5.7% Group Group Research Education reported ex-AJE organic organic Excellence • Empathy • Efficiency Excellence • Empathy • Efficiency THE ENGINE OF Intelligence that can be trusted AI ser [Showing first 8,000 characters — download PDF for full document]