Company: INFY
Filing Date: 2025-10-21
Form Type: SC TO-C
Source: 0001193125-25-245101
Chunk: 26

Company: Infosys Ltd
Filing Date: 2025-10-21
Form: SC TO-C
Chunk 26
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 SEBI and/or the Indian Stock Exchanges. |

27

DRAFT—SUBJECT TO COMPLETION

| 8. | NECESSITY / OBJECTIVE OF THE BUYBACK |

| 8.1 | The Buyback is being undertaken by the Company after taking into account the strategic and operational cash                                                                                                                                             
 needs in the medium term and the need for returning surplus funds to the members in an effective and efficient manner in line with its capital allocation policy. The financial parameters / internal factors that shall be considered include, but are 
 not limited to:                                                                                                                                                                                                                                         |

| • |     | Expected cash requirements of the Company towards working capital, investments in AI and other areas, capital 
 expenditure in technology and infrastructure etc.;                                                            |

| • |     | Investments required towards execution of the Company’s strategy; |

| • |     | Funds required for any acquisitions that the Board may approve; |

| • |     | Minimum cash required for contingencies or unforeseen events; |

| • |     | Any other significant developments that require cash investments |

| 8.2 | The expected cash generation and strong balance sheet position of the Company allows it to reward its members,                                                                                                                                      
 while retaining sufficient capital for business requirements. Since 2017, the Company has undertaken multiple buybacks, which, along with regular and special dividends has enabled the Company to distribute the surplus cash to shareholders in a 
 predictable and efficient manner.                                                                                                                                                                                                                   |

| 8.3 | As of June 30, 2025, the Company had consolidated cash and investments (comprising of cash and cash                    
 equivalents, current and non- current investments excluding investments in equity and preference shares and others) of 
 ₹ 45,204 crore.                                                                                                        |

| 8.4 | The Buyback is being undertaken for the following reasons: |

| • |     | The Buyback will help the Company to return surplus cash to its members, in line with the stated Capital 
 Allocation Policy;                                                                                       |

| • |     | The Buyback is expected to improve return on equity through distribution of cash and improve earnings per share 
 by reduction in the equity base in the long term, thereby leading to long term increase in members’ value;      |

| • |     | The Buyback gives an option to all the members of the Company as on the Record Date, either to sell their Equity                                                                             
 Shares and receive cash or not to sell their Equity Shares and get a resultant increase in their percentage shareholding in the Company post the Buy