FROM THE CEO

Dear Shareholder,

As I begin this annual letter to you, I am proud of what Mphasis has achieved, not only in terms of financial performance but also in our commitment to help clients, communities and our employees. I wish to thank all Mphasis employees globally, for their dedication and relentless efforts, in the face of difficult personal challenges during an unprecedented situation.

Fiscal Year (FY) 21 has been a breakthrough year for your Company:

• Touched a market capitalization of $ 4.5 billion and crossed the INR 1700 mark in stock price
• Recorded the highest ever TCV wins in Direct of USD 1,112 million and a historical high Direct Business growth of 22.5%
• Blackstone’s acquisition of majority stake in April 2021 and continued partnership is a testimony to their long-term commitment and a vote of confidence
• Diversified sales and operations into multiple geographies such as Leeds outside of London – UK, Mexico, Costa Rica, Taiwan, Calgary – Canada and Estonia
• Acquired Datalytyx, a DataOps specialist in the Snowflake and Talend ecosystem
• Recognized by The Economic Times with 'The Best Tech Brand of the year 2021' award under the 'Most Accelerated Digital Transformation Company' category

As a socially responsible organization, we have contributed to positive impact and relief measures through the Mphasis F1 Foundation such as:

• Multiple COVID-19 relief efforts
• Incubation and Livelihood focus: We supported 8 non-profit start-ups through The Nudge Foundation, working in thematic areas such as environment, healthcare, sports, governance, agriculture, etc. We strengthened this partnership to further support 12 early-stage social enterprises. We trained 1000 college girls from financially stressed backgrounds with 21^st century skills, enabling 100% placements for opt-ins
• University Partnership for Applied Research: Mphasis Laboratory for Machine Learning and Computational Thinking at Ashoka University is working on 6 POCs in explainable AI, rational drug design, privacy preserving ML, crypto systems, etc., to become the paradigm of choice for complex problem solving

We are proud of the progress made in the face of this pandemic and the accompanying economic upheaval and are confident of our direction in 2022. Embracing the new normal, our two biggest assets – clients and employees – have both amplified this voice back to us over the recent past.

I would also like to thank you, our shareholders, for your continued support, confidence, and partnership.

Regards,