eClerx Services Limited — Capital/Financing Update 2020

Dec 24, 2020

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eClerx/SECD/SE/2020/102

December 24, 2020

BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, Plot No. C/1, Phiroze Jeejeebhoy Towers, Block G, Bandra - Kurla Complex 25[th] Floor, Dalal Street, Bandra (East), Fort, Mumbai - 400 001 Mumbai – 400 051

Dear Sir/Madam,

Sub: Update on Personiv Acquisition

Scrip Code: BSE - 532927 NSE – ECLERX

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

and further to our earlier announcement vide letter number eClerx/SECD/SE/2020/100 dated December 11, 2020 regarding entering in to a Share/Membership Interest Purchase agreement to acquire 100% stake in Eclipse Global Holdings LLC (dba Personiv), we wish to inform you that the necessary closing documents with respect to acquisition of Eclipse Global Holdings LLC have been executed by eClerx LLC, USA, a wholly owned subsidiary of eClerx Services Limited on December 23, 2020 (IST) to conclude the said acquisition.

Also, a press release titled ‘Business Process Management Leader, eClerx, Acquires Texas-Based Personiv’ regarding the captioned acquisition is enclosed herewith.

This is for your information and records.

Thanking you,

Yours faithfully

For eClerx Services Limited

Digitally signed by pratik.bha pratik.bhanushali@eclerx.com nushali@e DN: cn=pratik.bhanushali@ecl erx.com clerx.com Date: 2020.12.24 10:51:11 +05'30'

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Pratik Bhanushali

Company Secretary and Compliance Officer F8538

Encl: As above

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FOR IMMEDIATE RELEASE

Business Process Management Leader, eClerx, Acquires Texas-Based Personiv The acquisition adds over 2,000 employees to the top automation and analytics organization.

eClerx Services Limited (BSE: 532927 | NSE: ECLERX), a leading provider of business process management, analytics, and automation services to a number of Fortune 2000 enterprises, announced its acquisition of Eclipse Global Holdings LLC, (“Personiv”), an Austin, Texas-headquartered business process management and services company focused in the outsourced accounting space.

Through this acquisition, eClerx, a global leader in business transformation, adds over 2,000 team members and three delivery centers to its more than 8,500 employees and 14 locations worldwide—taking their combined headcount upwards of 11,000-strong. Personiv, an outsourcing provider with 35 years of experience and offices in the U.S., India, and the Philippines, adds a robust outsourced accounting solution to the company’s digital, customer operations, and financial market offerings. Personiv is a perfect fit to join eClerx as they continue to provide critical business operations services to global Fortune 2000 clients, including several of the world’s leading companies.

PD Mundhra, eClerx’s Co-founder and Executive Director stated, “We have been impressed by Personiv’s capabilities, which have reflected in the deep and meaningful client relationships that they have developed over the years. We feel that our two companies share a strong people and client-centric culture and are a good fit as partners. Through this acquisition, we add new clients – many in the underserved small and medium-business sector - deepen service capabilities in digital and customer care, and add finance and accounting as a service. Personiv’s locations across India and the Philippines provide additional delivery capabilities, and we add a very capable management team to the eClerx family.”

eClerx and Personiv’s aligned cultures of focusing on people, quality, clients and giving back through ongoing corporate citizenship provide a strong foundation for long-term strategic growth in the sectors they jointly serve while positioning them as leaders in business process management solutions across a variety of industries.

“This is a proud day for Personiv as we join BPM leader, eClerx and combine forces to provide exceptional outsourcing services—from virtual accounting talent and customer experience to back office and digital,” David Lesniak, CEO of Personiv said. “We are equally excited to continue to serve our customers with nimble, one-on-one attention while adding the opportunity to offer increased capabilities through eClerx’s suite of services including automation and analytics expertise. Most importantly, as a people-focused organization, we are thrilled to have found an incredible partner to accelerate our journey and drive our core value of delighting customers while retaining our employee-centered culture.”

eClerx looks forward to strengthening its unique delivery model and differentiated offerings with the acquisition of Personiv.

The acquisition closed on December 23, 2020, and eClerx has funded the purchase with available cash on hand.

For further information, please contact:

Erik Miller Global Head of Marketing D +1 646-368-6179 Erik.Miller@eclerx.com

Lydia Adams VP - Marketing & Communications D +1 210-367-8968 Lydia.Adams@personiv.com

About eClerx

eClerx provides business process management, analytics, and automation services to a number of Fortune 2000 enterprises, including some of the world’s leading companies across financial services, cable & telecom, retail, fashion, media & entertainment, manufacturing, travel & leisure, software and high-tech. Incorporated in 2000, eClerx is one of India’s leading process management and data analytics companies and is today traded on both the Bombay and National Stock Exchanges of India. eClerx employs 8,500 people across its global sites in the US, UK, Italy, Germany, and Singapore, along with its delivery centers in India and Thailand. For more information, visit www.eclerx.com.

About Personiv

For more than three decades, Personiv has been the partner businesses trust to develop and implement customized outsourcing solutions for everything from customer experience and back office to virtual accounting talent and digital services. Austin, Texas-based Personiv provides flexible, scalable people-powered solutions that deliver highimpact, high-quality results at half the cost. For more information, visit www.personiv.com.

Disclaimer: Certain statements made in this release concerning our future growth prospects may be interpreted as forward looking statements, which involve a number of risks and uncertainties that could cause the actual results to differ materially from those in such forward looking statements. Investors are requested to use their discretion in relying on them. We do not undertake to update any forward-looking statements that may be made from time to time.