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Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%Contents Press Release .......................................................................................... 3 Key Metrics ............................................................................................ 7 Financial Statements ................................................................................ 10 Addendum ............................................................................................ 15 Safe Harbour Certain statements in this release concerning the future prospects are forward-lookingLTIMindtree Reports Strong Performance in Q3 FY23 Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion Mumbai, January 20, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.</s>“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over- year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross- industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.” Key financial highlights: Quarter ended December 31, 2022 In USD: - Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y) - Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y) In INR: - Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y) - Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)Deal Wins • A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time- to-market.</s>• A leading public utility company based in North America chose LTIMindtree as a long- term strategic partner for an infrastructure and cloud managed services deal.</s>• An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.</s>• A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.</s>• A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.</s>• A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.</s>• A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.</s>• A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.</s>• A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.</s>Recognitions• Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.</s>• Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.</s>*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.</s>Announcements The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.</s>Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.</s>Earnings Conference Call and Audio Webcast Friday, January 20, 2023 - 6:00 PM IST Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.</s>+91 22 6280 1107 Universal Access Number +91 22 7115 8008 USA : 18667462133 International Toll-Free Number UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855 Dial-in Number: India +91 22 7194 5757 Replay of Conference Call USA Toll Free 18332898317 UK Toll Free 8007563427 Singapore Toll Free 8001012510 Hong Kong Toll Free 800965553 Audio WebcastKey Financial Metrics Growth (%) Revenue USD $ Mn Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Revenue USD Mn 918.4 1,021.9 1,046.7 2.4% 14.0% Revenue – constant currency (CC) 1.9% 16.3% Growth (%) Financials INR ₹ Q3FY22 Q2 FY 2 3 Q3 FY23 Q-o-Q Y-o-Y Revenue ₹ Millions 68,807 82,278 86,200 4.8% 25.3% Gross Margin % 32.3% 30.8% 28.6% EBITDA Margin % 20.7% 19.9% 16.0% EBIT Margin % 18.5% 17.5% 13.9% Forex Gains/(loss) ₹ Millions 1,071 198 490 Effective Tax Rate* % 25.5% 23.9% 23.6% PAT ₹ Millions 10,501 11,890 10,007 PAT - Net Profit Margin % 15.3% 14.5% 11.6% EPS - Earnings Per Share Basic ₹ 35.5 40.2 33.8 Diluted ₹ 35.4 40.1 33.8 DSO** (Billed) 65 56 61 DSO** (Billed & Unbilled) 94 85 90 R OE % 31.0% 32.6% 30.3% * Effective Tax Rate = Tax / PBT ** DSO is based on TTM Cash Flow INR ₹ Millions Q3 FY22 Q2FY23 Q3 FY23 Free Cash Flow 7,127 4,289 3,560 Cash and Investments 70,845 77,035 80,865 Hedges outstanding in Currency Value Avg. Rate / INRKey Revenue Metrics Growth (%) Revenue by Industry Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y Banking, Financial Services & 35.0% 36.2% 37.4% 5.7% 22.0% Insurance Hi-Tech, Media & Entertainment 24.7% 25.3% 23.6% (4.7%) 9.0% Manufacturing & Resources 18.3% 16.2% 17.5% 10.5% 8.8% Retail, CPG, Travel, Transportation 15.6% 15.4% 15.2% 0.6% 10.7% & Hospitality Health, Life Sciences & Public 6.5% 6.8% 6.3% (3.8%) 11.9% Services Growth (%) Revenue by Geography Q3 FY22 Q2 FY23 Q3 FY23 Q-o-Q Y-o-Y North America 68.9% 72.9% 72.3% 1.6% 19.6% Europe 16.9% 14.6% 14.9% 4.0% 0.2% Rest of the World 14.2% 12.5% 12.8% 5.4% 3.1% Revenue by Currency Q3FY22 Q2FY23 Q3FY23 USD 72.2% 77.4% 77.3% EUR 9.1% 7.3% 7.0% INR 6.6% 4.8% 5.5% GBP 3.9% 2.9% 3.0% Others 8.2% 7.5% 7.2%Key Client Metrics Client Profile Q3 FY22 Q2 FY23 Q3 FY23 Active Clients 650 719 723 New Clients added 34 22 28 Revenue Contribution 1 Million Dollar + 316 361 374 5 Million Dollar + 120 137 144 10 Million Dollar + 76 77 81 20 Million Dollar + 31 38 37 50 Million Dollar + 9 11 11 100 Million Dollar + 2 2 2 Active Clients and Revenue Contribution is based on TTM Revenue Contribution Q3 FY22 Q2 FY23 Q3 FY23 Top 5 Clients 25.5% 26.7% 26.3% Top 10 Clients 34.0% 34.3% 33.8% Top 20 Clients 45.2% 45.1% 45.3% Top 40 Clients 59.1% 57.4% 57.6% Effort and Utilization Effort & Utilization Q3 FY22 Q2 FY23 Q3 FY23 Effort Mix Onsite 15.6% 14.7% 14.9% Offshore 84.4% 85.3% 85.1% Utilization (excl. trainees) 84.0% 83.5% 82.9% Key Employee MetricsFinancial Statements Income Statement Amount in INR Millions Particulars Q3FY22 Q2FY23 Q3FY23 QoQ% YoY% Revenue 68,807 82,278 86,200 4.8% 25.3% Direct Cost 46,604 56,904 61,555 8.2% 32.1% Gross Profit 22,203 25,374 24,645 (2.9%) 11.0% SG&A Expenses 7,940 9,018 10,897 20.8% 37.2% EBITDA 14,263 16,356 13,748 (15.9%) (3.6%) Depreciation and 1,518 1,959 1,781 Amortization EBIT 12,745 14,397 11,967 (16.9%) (6.1%) Forex Gains/(loss) 1,071 198 490 Other Income 590 1,413 1,028 Finance Cost 314 378 379 Provision for Tax 3,591 3,740 3,099 PAT 10,501 11,890 10,007 (15.8%) (4.7%) Margin % EBITDA 20.7% 19.9% 16.0% EBIT 18.5% 17.5% 13.9% PAT 15.3% 14.5% 11.6%Balance Sheet Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 As at March 31, As at Dec 31, Balance sheet 2022 2022 ASSETS Non-current assets Property, Plant and Equipment 9,183 9,946 Right of Use Assets 11,124 12,897 Capital work-in-progress 4,589 7,698 Goodwill 11,632 11,831 Other Intangible assets 2,790 2,504 Intangible assets under development 439 765 Financial Assets Investments 6,513 7,882 Trade Receivable - - Other Financial Assets 5,505 1,869 Deferred tax assets 387 4,313 Tax Assets 2,218 2,457 Other non-current assets 2,058 2,093 Total Non-Current Assets 56,438 64,255 Current assets Inventories 41 35 Financial Assets Investments 53,971 49,331 Trade receivable 45,574 55,580 Unbilled Revenue 10,697 13,266 Cash and Cash Equivalent 14,462 19,927 Other Bank Balances 3,911 4,076 Other Financial Assets 4,807 2,172 Income Tax Assets (net) - - Other current assets 15,923 18,991 Total Current Assets 1,49,386 1,63,378 TOTAL ASSETS 2,05,824 2,27,633 EQUITY AND LIABILITIES Equity Equity Share capital 296 296 Other Equity Other Reserves 18,804 9,514 Retained Earnings 1,23,772 1,48,429 Other Components of Equity Share application money pending allotment - 0 Non-controlling interests 57 70 Total Equity 1,42,929 1,58,309 Liabilities Non-current liabilities Financial Liabilities Borrowings - - Trade Payables - - Financial Liabilities - Others 249 2,857 Other non-current liabilities - -Cash Flow Amount in INR Millions Statement of Unaudited Consolidated Financial Results for the quarter ended December 31, 2022 Particulars Q3 FY22 Q2 FY23 Q3 FY23 Cash flow from operating activities Net profit after tax 1 0,501 11,890 10,007 Adjustments for: Depreciation and amortization 1 ,518 1,959 1,781 Income tax expense 3 ,591 3,740 3,099 Others 3 01 ( 1,071) ( 522) Operating profit before working capital changes 1 5,911 1 6,518 1 4,365 Changes in working capital (net) (1,703) ( 3,545) ( 3,951) Cash generated from operations 1 4,208 12,973 10,413 Income taxes paid (4,239) ( 5,415) ( 3,828) Net cash from operating activities 9 ,969 7 ,558 6 ,585 Cash flow from investing activities (Purchase)/Sale of fixed assets (2,842) ( 3,269) ( 3,025) (Purchase)/Sale of Investments (2,161) 10,762 ( 1,299) Payment towards contingent/deferred consideration (86) ( 529) ( 437) Interest received 2 29 298 391 Net cash from investing activities ( 4,860) 7 ,262 ( 4,369) Cash flow from financing activities Shares issued on exercise of employee stock options 0 6 3 Share Issue Expenses - - ( 7) Proceeds from/(repayment) of borrowings 8 5 83 ( 16) Deposit under Credit support agreement received/(paid) (700) ( 316) ( 510) Payment towards lease liabilities (496) ( 545) ( 576) Interest paid on Lease liabilities (271) ( 280) ( 280) Interest paid (13) ( 94) ( 98) Dividend paid (4,273) ( 9,712) - Net cash from financing activities ( 5,668) ( 10,858) ( 1,484) Effect of exchange rate on cash and cash equivalents ( 137) 8 1 5 31 Net increase/(decrease) in cash and cash equivalents ( 696) 4 ,043 1 ,263 Cash and cash equivalents at beginning of the period 8 ,992 14,621 18,664 Cash and cash equivalents at end of the period 8 ,296 1 8,664 1 9,927Bank Balances and Investments as at 31st Dec, 2022 Amount in INR Millions Balances with Banks Amount Major Banking Partners (India & Overseas) In India In Current Accounts 18,837 Axis Bank, Citibank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, State Bank of India Rest of the World In Deposit Accounts 1,350 Bank of America, Bank of China, Barclays, CIBC, Citibank, Handelsbanken, HSBC, ING, JPMC, Silicon Valley Bank, UBSInstitution TotalInvestments 20,187 Amount ABSL, Axis, DSP, Edelweiss, HDFC, HSBC, ICICI, IDFC, Invesco, Kotak, Mutual Funds ** 34,255 Mirae Asset, Navi, Nippon, SBI, Sundaram, TATA, UTI Aditya Birla Finance Ltd, Bajaj Finance Ltd, Housing Development Finance Inter-Corporate Deposits 9,581 Corporation Ltd, Kotak Mahindra Investments Ltd, LIC Housing Finance Ltd, PNB Housing Finance Ltd Aditya Birla Finance Ltd, Bajaj Finance Ltd, Embassy, HDB Financial Services, India Infrastructure Finance Co., Indian Railway Finance Corp, L&T Finance, L&T Infra, LIC Housing Finance Ltd, Mahindra & Mahindra Financial Services Bonds and Debentures 8,924 Ltd, Power Finance Corporation, Rural Electrification Corporation, SBI, Small Industries Development Bank of India, TATA Capital Financial Services Ltd, Tata Capital Ltd Fixed Deposits with Banks 3,820 Axis Bank, Bank of Baroda, ICICI Bank, Kotak Bank, SBI Barclays Investment & Loans ( India) Pvt Ltd, HDFC Securities, Housing Commercial Papers 2,415 Development Finance Corporation Ltd, ICICI Securities, Kotak Mahindra Prime Ltd, LIC Housing Finance Ltd, TATA Capital Financial Services Ltd Certificate of Deposits 1,58697 Axis Bank, Canara Bank, HDFC Bank, Indian Bank Government Securities Treasury-Bills Total 60,678 T otal Bank Balance and Investments 80,865Contact Information Investor Relations – Nitin Mohta, Head - Investor Relations Email - Nitin.Mohta@ltimindtree.com Registered Office: L&T House, Ballard Estate, Mumbai – 400001 India CIN – L72900MH1996PLC104693 https://www.ltimindtree.com/Addendum Revenue Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Revenue USD Mn 780.3 858.3 918.4 944.7 979.5 1,021.9 1,046.7 QoQ Growth 6.1% 10.0% 7.0% 2.9% 3.7% 4.3% 2.4% Revenue CC QoQ 5.9% 10.6% 7.5% 3.2% 5.0% 5.5% 1.9% Growth % Financials Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Earnings per share Basic ₹ 28.5 32.2 35.5 37.5 37.4 40.2 33.8 Diluted ₹ 28.4 32.1 35.4 37.4 37.4 40.1 33.8 DSO (Billed) 60 63 65 62 56 56 61 DSO (Billed + Unbilled) 91 93 94 90 87 85 90 Revenue by Industry Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Banking, Financial Services 35.6% 35.0% 35.0% 35.4% 36.1% 36.2% 37.4% & Insurance Hi-Tech, Media & 25.0% 24.9% 24.7% 25.0% 25.4% 25.3% 23.6% Entertainment Manufacturing & Resources 17.4% 17.4% 18.3% 17.4% 16.3% 16.2% 17.5% Retail, CPG, Travel, Transportation & 15.2% 16.4% 15.6% 15.7% 15.7% 15.4% 15.2% Hospitality Health, Life Sciences & 6.8% 6.4% 6.5% 6.4% 6.6% 6.8% 6.3% Public Services Revenue by Geo Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 North America 70.9% 69.7% 68.9% 69.5% 71.7% 72.9% 72.3% Europe 16.5% 17.5% 16.9% 17.0% 15.3% 14.6% 14.9%Client Profile Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Active Clients 608 628 650 673 708 719 723 New Clients added 21 35 34 29 43 22 28 Revenue Contribution 1 Million Dollar + 283 301 316 327 337 361 374 5 Million Dollar + 109 117 120 125 130 137 144 10 Million Dollar + 66 74 76 76 79 77 81 20 Million Dollar + 26 30 31 37 40 38 37 50 Million Dollar + 8 9 9 10 10 11 11 100 Million Dollar + 2 2 2 2 2 2 2 Revenue contribution Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Top 5 Clients 26.9% 25.3% 25.5% 25.5% 26.8% 26.7% 26.3% Top 10 Clients 35.7% 33.7% 34.0% 33.5% 34.5% 34.3% 33.8% Top 20 Clients 46.5% 45.0% 45.2% 44.8% 45.5% 45.1% 45.3% Top 40 Clients 59.3% 58.4% 59.1% 58.4% 58.7% 57.4% 57.6% Effort and Utilization Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Effort Mix Onsite 17.2% 16.1% 15.6% 15.0% 14.7% 14.7% 14.9% Offshore 82.8% 83.9% 84.4% 85.0% 85.3% 85.3% 85.1% Utilization (excl. trainees) 86.1% 85.2% 84.0% 83.2% 83.5% 83.5% 82.9% Key Employee Metrics Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Total Employees 63,696 70,133 74,173 79,594 84,030 86,936 86,462 Software 60,603 66,824 70,710 75,869 79,998 82,681 82,197 Professionals Sales & Support 3,093 3,309 3,463 3,725 4,032 4,255 4,265 Women Employees % 31.8% 31.7% 31.9% 31.9% 31.7% 31.6% 31.5%