Firstsource Solutions Ltd. — Investor Presentation 2024

Feb 7, 2024

==> picture [560 x 75] intentionally omitted <==

7[th] February 2024

To:

National Stock Exchange of BSE Limited (Scrip Code: India Limited (Scrip Code: FSL) 532809) Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051

Dear Madam/ Sir,

Sub: Intimation of Analyst/ Institutional Investor Call

We are enclosing herewith a copy of the presentation regarding conference call to be held on Wednesday, 7th February 2024 at 4.30 PM IST with the analysts and investors, on the financial results of the Company for the quarter & nine months ended 31st December 2023.

This is for your information and record.

Thanking you,

For Firstsource Solutions Limited

POOJA SURESH Digitally signed by POOJA SURESH NAMBIAR NAMBIAR Pooja Nambiar Company Secretary

Encl.: A/a

==> picture [561 x 85] intentionally omitted <==

Q3FY24

Disclaimer

==> picture [74 x 31] intentionally omitted <==

Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in BPO services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on client contracts, client concentration, our ability to manage ramp-ups and growth, our ability to manage our international operations, reduced demand in our key focus verticals, disruptions in telecom infrastructure and technology, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, performance of our subsidiaries, withdrawal of government fiscal incentives, political instability, legal restrictions on raising capital and acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Firstsource may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

© FIRSTSOURCE | 2

About Us

==> picture [69 x 65] intentionally omitted <==

Established in 2001

==> picture [69 x 66] intentionally omitted <==

Revenues of INR 60.2 Billion (US$750 Million) in FY2023

==> picture [69 x 65] intentionally omitted <==

25,947* Firstsourcers across US, UK, India, Philippines and Mexico

*As on 31[st] Dec. 2023

==> picture [69 x 65] intentionally omitted <==

Leaders in chosen segments

across Banking & Financial Services, Healthcare, Communications, Media & Technology and Diversified Industries

==> picture [69 x 65] intentionally omitted <==

==> picture [69 x 66] intentionally omitted <==

==> picture [69 x 65] intentionally omitted <==

==> picture [69 x 65] intentionally omitted <==

==> picture [74 x 31] intentionally omitted <==

Domain driven BPM services company

leveraging a ‘Digital First, Digital Now’ approach to solve key customer problems

150+ global clients including

18 Fortune 500 companies and 3 FTSE 100 companies

Deep partnerships with clients Average tenure of top 5 clients is over 17.7 years

Publicly Traded on Indian Stock Exchanges NSE: FSL | BSE: 532809| Reuters: FISO.BO| Bloomberg: FSOL:IN

© FIRSTSOURCE | 3

Part of RP-Sanjiv Goenka Group

Power Consumer & Retail Education & Infrastructure Sports Combined FY23 Revenues US$4.5 Billion Carbon Black Media & Entertainment IT-Enabled Services

==> picture [64 x 32] intentionally omitted <==

==> picture [60 x 37] intentionally omitted <==

==> picture [60 x 41] intentionally omitted <==

==> picture [50 x 32] intentionally omitted <==

==> picture [106 x 35] intentionally omitted <==

==> picture [84 x 34] intentionally omitted <==

==> picture [42 x 41] intentionally omitted <==

==> picture [103 x 29] intentionally omitted <==

==> picture [86 x 36] intentionally omitted <==

==> picture [59 x 31] intentionally omitted <==

==> picture [60 x 36] intentionally omitted <==

==> picture [40 x 35] intentionally omitted <==

==> picture [72 x 37] intentionally omitted <==

==> picture [95 x 37] intentionally omitted <==

==> picture [71 x 23] intentionally omitted <==

==> picture [74 x 31] intentionally omitted <==

==> picture [63 x 32] intentionally omitted <==

==> picture [78 x 19] intentionally omitted <==

==> picture [118 x 23] intentionally omitted <==

==> picture [68 x 34] intentionally omitted <==

==> picture [46 x 33] intentionally omitted <==

==> picture [52 x 52] intentionally omitted <==

==> picture [59 x 22] intentionally omitted <==

==> picture [61 x 32] intentionally omitted <==

==> picture [73 x 23] intentionally omitted <==

==> picture [44 x 44] intentionally omitted <==

==> picture [53 x 22] intentionally omitted <==

==> picture [94 x 39] intentionally omitted <==

==> picture [67 x 36] intentionally omitted <==

==> picture [77 x 25] intentionally omitted <==

==> picture [75 x 18] intentionally omitted <==

© FIRSTSOURCE |

4

Our Verticals

Banking &

Financial Services

==> picture [254 x 254] intentionally omitted <==

• Asset Finance

• Credit Cards

• Mortgages

• Retail & SME Banking

• FinTech

==> picture [38 x 38] intentionally omitted <==

Healthcare

• Hospital Providers

• Health Plans

• Healthcare Services

• Medical Devices

==> picture [34 x 42] intentionally omitted <==

Communications Media & Technology

• Streaming Services

• Cable TV, Broadband and Telephony

• Consumer Tech

• E-Commerce

• Shared Economy

==> picture [41 x 40] intentionally omitted <==

Diversified Industries

• Utilities

• Government Entities

==> picture [74 x 31] intentionally omitted <==

6 of Top 15

Mortgage Servicers in the US

5 of Top 15

Mortgage Lenders in the US

6 of Top 10

Credit card issuers in the US

2 of Top 6

Retail Banks in the UK

1,000+

Hospitals in the US

7 of Top 10

Health insurance/managed care providers in the US

1 of Top 2

Broadcasting and media companies in the UK

2 of Top 5

Telecom and broadcasting companies in the US

3 of Top 5

Consumer-tech companies in the US

2 of Top 4

Utilities companies in the UK

© FIRSTSOURCE | 5

Financial Performance Snapshot

==> picture [440 x 444] intentionally omitted <==

----- Start of picture text -----

Revenue (in $ million)
-0.1% 5.6% 18.5% 16.0% -5.7% 0.6%
2.0% 6.6% 17.9% 14.6% -1.1% -0.1%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Constant Currency Growth YoY Revenue Growth
EBIT and Margin (%) (in ₹ million)
10,000 14.0%
9,000 11.1% 12.0% 10.8% 11.8% 12.0% 11.2% 12.0%
8,000 9.4%
7,000 10.0%
6,000
8.0%
5,000
6.0%
4,000
3,000 4.0%
2,000
2.0%
1,000
- 0.0%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
EBIT EBIT Margin (%)
795 750
685
548 548 578 564
7,105
5,979 5,633 5,233
4,610 4,437
3,930
----- End of picture text -----*

==> picture [74 x 31] intentionally omitted <==

==> picture [437 x 225] intentionally omitted <==

----- Start of picture text -----

Revenue (in ₹ million)
8.2% 7.1% 23.9% 16.6% 1.7% 4.5.%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
YoY Revenue Growth
59,212 60,223
50,780
46,658
35,352 38,263 40,986
----- End of picture text -----

PAT and Margin (%)

==> picture [426 x 203] intentionally omitted <==

----- Start of picture text -----

(in ₹ million)
8,000 12.0%
9.9%
7,000 6,000 9.2% 8.3% 9.1% 8.5% 8.2% 10.0%
7.1% 8.0%
5,000
4,000 6.0%
3,000
4.0%
2,000
2.0%
1,000
- 0.0%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Note: FY21 PAT was ₹ 4,499 m excluding exceptional items PAT PAT Margin (%)
5,374 5,137
3,265 3,778 3,397 3,617 3,812
----- End of picture text -----

*Normalised for one-time charges in Q2FY24

© FIRSTSOURCE | 6

Key Performance Indicators

Return on Equity (%)

==> picture [422 x 188] intentionally omitted <==

----- Start of picture text -----

FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Note: FY21 ROE was 16.1% excluding exceptional items
17.7%
15.3%
13.9% 13.9% 12.3% 12.9% 13.5%
----- End of picture text -----*

Cash Flow (in ₹ million)

==> picture [404 x 158] intentionally omitted <==

----- Start of picture text -----

FY18 FY19 FY20 FY21 Adj FY22 Adj FY23 9MFY24
Operating Cash Flow Free Cash Flow
8,921
7,225 7,870 7,141 7,634 7,119
4,612
4,000 4,104
3,151 2,526 2,913 3,156 4,040
----- End of picture text -----

==> picture [74 x 31] intentionally omitted <==

Return on Capital Employed (%)

==> picture [449 x 414] intentionally omitted <==

----- Start of picture text -----

FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Debt Position (in ₹ million)
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Long term Debt Short term Debt Net Debt
including current maturities
17.6% 17.6%
15.3%
13.0% 14.1% 12.3% 13.4%
6,950
5,271
3,490
8,341 8,013 5,113
4,367
5,390 6,526 6,159
5,273
4,398
3,885 3,846
3,233 3,147 2,999
187 92 1,678 1,841
----- End of picture text -----*

*Annualised

© FIRSTSOURCE | 7

Leadership Team

==> picture [165 x 164] intentionally omitted <==

Ritesh Idnani

MD & CEO

==> picture [84 x 85] intentionally omitted <==

Dinesh Jain

Chief Financial Officer

==> picture [84 x 85] intentionally omitted <==

Arjun Mitra

Head

Collections

==> picture [84 x 84] intentionally omitted <==

Prashanth Nandella

Chief Operating Officer

==> picture [84 x 85] intentionally omitted <==

Ashish Chawla

Head

CX and Consulting

==> picture [84 x 85] intentionally omitted <==

Vivek Sharma

Head

Commn., Media & Tech., Banking & Fin. Services and Emerging Geos

==> picture [84 x 84] intentionally omitted <==

Sundara Sukavanam

Chief Digital Officer

==> picture [84 x 84] intentionally omitted <==

Venkatgiri Vandali

Head Healthcare & Lifesciences

==> picture [85 x 85] intentionally omitted <==

Aftab Javed

Chief Human Resources Officer

==> picture [74 x 31] intentionally omitted <==

==> picture [85 x 85] intentionally omitted <==

Rajiv Malhotra

Head Europe, Middle East & Africa

==> picture [84 x 85] intentionally omitted <==

Aniket Maindarkar

Chief Marketing Officer

© FIRSTSOURCE | 8

Total Shareholders Return

==> picture [74 x 31] intentionally omitted <==

|Ni
FS
Feb-19
Aug-19
Feb-20
Aug-20
Feb-21
Aug-21
Feb-22
Aug-22
Feb-23
Aug-23
Feb-24|fty IT| 138%
L| 352%|
|---|---|

Total Shareholders Return (including dividends) of 383% in past 5 years

Based on closing prices as of 6[th] Feb, 2024

© FIRSTSOURCE |

9

==> picture [74 x 31] intentionally omitted <==

Performance Highlights | Q3FY24

© FIRSTSOURCE | 10

Summary of Performance for the Quarter ended December 31, 2023

==> picture [74 x 31] intentionally omitted <==

==> picture [788 x 410] intentionally omitted <==

----- Start of picture text -----

REVENUE EBIT
₹
₹
₹ 15,966 Million ₹ 1,709 Million
(US$ 192 Million) (Margin 10.7%)
YoY growth of 6.1%
YoY growth of 21.2%
Constant Currency YoY growth of 2.8%
YoY Margin expansion of 134 bps
PROFIT AFTER TAX EARNINGS PER SHARE
₹
(Diluted)
₹ 1,287 Million ₹ 1.84
(Margin 8.1%) per share
YoY growth of 18.5%
Q2FY24 at 1.80 per share
YoY Margin expansion of 76 bps
Q3FY23 at ₹ 2.25 per share
(excluding exceptional other income)
----- End of picture text -----

*excluding other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

© FIRSTSOURCE | 11

Summary of Performance for the Nine Months ended December 31, 2023

==> picture [74 x 31] intentionally omitted <==

==> picture [788 x 410] intentionally omitted <==

----- Start of picture text -----

REVENUE EBIT
₹
₹
₹ 46,658 Million ₹ 5,132 Million
(US$ 564 Million) (Margin 11.0%)
YoY growth of 4.5% YoY growth of 36.5% [#]
Constant Currency YoY decline of 0.1% YoY Margin expansion of 263 bps [#]
(excluding one-time charges)
PROFIT AFTER TAX EARNINGS PER SHARE
₹
(Diluted)
₹ 3,812 Million ₹ 5.43
(Margin 8.2%) per share
YoY growth of 41.9%
9MFY23 at 5.31 per share
YoY Margin expansion of 198 bps
TTM EPS at ₹ 7.46 per share
(excluding exceptional other income)
----- End of picture text -----

excluding on-time charges related to leadership changes in Q2FY24

*excluding other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

© FIRSTSOURCE | 12

Revenue Split | Q3FY24

==> picture [74 x 31] intentionally omitted <==

==> picture [606 x 323] intentionally omitted <==

----- Start of picture text -----

Revenue split by Revenue split by
verticals geography
Diverse RoW
5.7% 0.1%
CMT
22.5% UK US
65.4%
34.5%
BFS
38.3%
Healthcare
33.5%
----- End of picture text -----

United States (US) United Kingdom (UK) Rest of World (RoW)

Banking & Financial Services (BFS) Healthcare Communication, Media & Tech (CMT) Diverse Industries

Revenue split by service lines

==> picture [316 x 302] intentionally omitted <==

----- Start of picture text -----

PAA
20.7%
DECX
53.5%
IBO
25.8%
Digitally Empowered Customer Experience (DECX)
Intelligent Back Office (IBO) Platforms, Automation & Analytics (PAA)
----- End of picture text -----

© FIRSTSOURCE | 13

Deal Wins

==> picture [74 x 31] intentionally omitted <==

• Selected by one of the Top five banks in the UK, one of our long-standing clients, for a large transformational program

• Additional business from one of the largest utilities companies in the UK, an existing client, to provide core customer support

• Additional business from one of the largest telecom and media companies globally, an existing client, to provide account management services for its UK operations

• Expanded footprint in one of the Top5 healthcare insurance providers in the US for providing claims processing services

• Strengthened relationship with a Fortune500 managed health care companies in the US with additional business for customer support on Medicare, redetermination cases and claims processing

• Strengthened the multi-decade relationship with one of the largest managed health care and insurance companies in the US with additional business for providing clearinghouse support services

• Stitched a new service portfolio to deliver Health Risk Assessment for a leading healthcare services provider in the US by combining its capabilities in digital intake/outreach, visual IVR and outbound calling on multiple languages

• Expanded relationship with a major health provider in the US for offshore revenue cycle management (RCM) services

• Selected by a leading online real-estate player in the US to provide support for its property management services business

• Selected by a leading auto finance company in the US for digital collections

© FIRSTSOURCE | 14

Gen AI – progress update

==> picture [74 x 31] intentionally omitted <==

• Onboarded new technology partners for FirstSense.AI, our proprietary framework to accelerate client’s AI deployment

• Expanded Firstsense.AI Studio sandbox ecosystem to new LLMs including GPT-4, Anthropic and AWS Cohere

• Launched First ColLab project Nova - FSL AI Cognitive Search for HR and Facilities Program

• Library of 130+ use cases spanning across industries

• Completed 35 POCs

• Focusing on co-pilots; Library of 7+ plug & play use-case modules and 5+ co-pilots now available

• Implemented GenAI-based personalized training for new agents driving 50% increase in speed to competency

© FIRSTSOURCE | 15

Employee base

==> picture [74 x 31] intentionally omitted <==

• QoQ net headcount addition of 1,994

• India employee base higher by 1,832 ; RoW higher by 162

• YoY net headcount addition of 2,320

• India employee base higher by 3,780 ; RoW lower by 1,460

• TTM employee attrition[#] at 43.3% for onshore and 33.8% for offshore

• 45.4% of employees are women

==> picture [879 x 222] intentionally omitted <==

----- Start of picture text -----

Total headcount Attrition
47.2%
44.9% 45.3% 44.8%
43.3%
44.4%
42.3%
39.1%
36.1%
33.8%
Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24
Onshore Offshore
25,947
23,627 23,018 22,384 23,953
----- End of picture text -----

• #For employees in employment for more than 180 days

• *RoW: Rest Of the World

© FIRSTSOURCE | 16

Select Recognition

==> picture [74 x 31] intentionally omitted <==

Firstsource ranked in the top 96th percentile on the Dow Jones Sustainability Index

==> picture [371 x 371] intentionally omitted <==

Score of 62 on the CSA metric as well as on the ESG metric

This is our first year of participation

Industry leading score on Human Capital Development

Firstsource also scored high on Privacy Protection and Business Ethics

Score Breakdown

Read our FY23 ESG report

==> picture [267 x 135] intentionally omitted <==

==> picture [228 x 129] intentionally omitted <==

© FIRSTSOURCE | 17

FY24 business outlook

0.5-1.5% constant currency revenue growth

==> picture [285 x 286] intentionally omitted <==

11-11.5% EBIT margin (normalized for one-time charges)

==> picture [74 x 31] intentionally omitted <==

© FIRSTSOURCE | 18

==> picture [74 x 31] intentionally omitted <==

Factsheet

© FIRSTSOURCE | 19

Profit & Loss Statement Consolidated IndAS financials

==> picture [74 x 31] intentionally omitted <==

In ₹ million	Q2FY23	Q3FY23	Q4FY23	FY23	Q1FY24	Q2FY24	Q3FY24	QoQ	YoY
Income from services	14,735	15,033	15,566	59,859	15,267	15,417	15,948	3.4%	6.1%
Other operating Income	147	16	2	364	25	(17)	17.6	(201.3%)	10.7%
Revenue from operations	14,882	15,049	15,568	60,223	15,292	15,400	15,966	3.7%	6.1%
Revenue from operations (USD Mn)	$ 187	$ 183	$ 190	$ 750	$ 186	$ 186	$ 192	3.0%	4.8%
QoQ Growth % - Constant Currency	0.2%	(0.9%)	2.5%	-	(3.0%)	(0.1%)	3.4%
YoY Growth % - Constant Currency	1.8%	(0.3%)	(2.8%)	(1.1%)	(1.6%)	(1.9%)	2.8%
Personnel Expense	9,527	9,861	9,690	38,675	9,237	9,400	9,893	5.2%	0.3%
Operating Expense	3,438	3,092	3,437	13,283	3,653	3,712*	3,701	(0.3%)	19.7%
EBITDA	1,917	2,097	2,441	8,265	2,402	2,288	2,371	3.6%	13.1%
EBITDA Margin	12.9%	13.9%	15.7%	13.7%	15.7%	14.9%	14.9%	0 bps	92 bps
Depreciation / amortization	663	687	642	2,632	613	654	663	1.4%	(3.6%)
EBIT	1,254	1,409	1,799	5,633	1,789	1,634*	1,709	4.6%	21.2%
EBIT Margin	8.4%	9.4%	11.6%	9.4%	11.7%	10.6%	10.7%	9 bps	134 bps
Other Income / (expense)	482#	610#	105#	1,251#	6	153#	134#	(11.8%)	(78.0%)
Interest Income / (expense), net	(187)	(183)	(185)	(732)	(243)	(244)	(235)	(3.5%)	28.6%
Profit Before Taxes	1,549	1,837	1,719	6,152	1,553	1,543	1,608	4.2%	(12.5%)
Taxes and Minority Interest	255	257	306	1,015	293	278	321	15.3%	24.5%
Profit After Tax	1,294	1,579	1,413	5,137	1,260	1,265	1,287	1.8%	(18.5%)
Net Margin	8.7%	10.5%	9.1%	8.5%	8.2%	8.2%	8.1%	(15) bps	(243) Bps
Diluted EPS (₹ /Share)	1.84	2.25	2.02	7.32	1.80	1.80	1.84	2.2%	(18.2%)

including other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

© FIRSTSOURCE | 20

*Q2FY24: include one-time charges

Balance Sheet

==> picture [74 x 31] intentionally omitted <==

Consolidated IndAS financials

In ₹ million	As on 31-Dec-23	As on 31-Mar-23
ASSETS
Non-Current Assets
Fixed assets	2,461	2,789
Right-of-use assets	5,726	4,958
Goodwill on consolidation	29,817	29,450
Investment in associates	0	0
Financial Assets
Investments	115	116
Other financial assets	603	488
Deferred tax assets	2,944	2,948
Income tax assets (net)	820	786
Other non-current assets	2,156	1,026
Total Non-Current Assets	44,642	42,561
Current Assets
Financial assets
Current investments	491	596
Trade receivables	11,399	10,385
Cash and cash equivalents	2,065	1,515
Other balances with bank	33	40
Other financial assets	57	40
Other current assets	1,583	1,507
Total Current Assets	15,629	14,082
TOTAL ASSETS	60,271	56,644

In ₹ million	As on 31-Dec-23	As on 31-Mar-23
EQUITY AND LIABILITIES
Shareholder's Funds
Equity share capital	6,970	6,970
Reserve and surplus	30,761	26,699
Non - controlling interest	4	4
Total Equity	37,734	33,672
Non-Current Liabilities
Financial Liabilities
Long-term borrowings	250	1,394
Lease liabilities	5,145	4,467
Other Financial Liabilities	168	181
Provisions	175	137
Deferred tax liabilities	1,448	1,196
Total Non-Current Liabilities	7,185	7,375
Current Liabilities
Financial Liabilities
Short-term and other borrowings	6,704	6,876
Trade payables	3,149	2,314
Lease liabilities	1,383	1,195
Other financial liabilities	2,195	3,556
Other current liabilities	1,257	829
Provisions	494	826
Provision for tax (net)	169	0
Total Current Liabilities	15,351	15,597
TOTAL LIABILITIES	60,271	56,644

© FIRSTSOURCE | 21

Cash Flow Statement

==> picture [74 x 31] intentionally omitted <==

Consolidated IndAS financials

In ₹ million	Nine Months ended Dec 31, 2023	Nine Months ended Dec 31, 2022
Cash Flow from Operating Activities
Net profit before taxation and non controlling interest	4,704	4,433
Depreciation and amortization	1,929	1,989
Finance costs (For borrowing & lease liabilities)	769	583
Adjustment: Non-Cash Expense / (Other Income)	(441)	(2,283)
Add: Working Capital Changes	(1,853)	438
Less: Income Taxes Paid	(495)	(547)
Net cash generated from / (used in) Operating Activities (A)	4,612	4,613
Cash Flow from Investing Activities
Capital Expenditure, net	(571)	(417)
Interest income received	2	1
(Increase)/Decrease in current investments	149	372
Earmarked balances with banks	7	42
Net cash generated from / (used in) Investing Activities (B)	(413)	(3)
Cash Flow from Financing Activities
Net Change in Borrowings	(1,316)	(2,278)
Net Interest Paid	(799)	(567)
Payment of Lease Liabilities	(1,029)	(1,131)
Purchase of Treasury Shares, net	65	(151)
Purchase of non controlling interest in subsidiary	(583)	(276)
Net cash generated from / (used in) Financing Activities (C)	(3,661)	(4,404)
Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C)	538	207
Cash and cash equivalents at the beginning of the period	1,515	828
Foreign exchange (loss) / gain on translating Cash and cash equivalents	12	14
Closing Cash and Cash Equivalents	2,065	1,050
Current Investments	491	849
Cash and Cash Equivalents including Investments	2,556	1,899

© FIRSTSOURCE | 22

Operating Metrics

==> picture [74 x 31] intentionally omitted <==

	Particulars	Q3FY22	Q4FY22	Q1FY23	Q2FY23	Q3FY23	Q4FY23	Q1FY24	Q2FY24	Q3FY24
Revenue by Vertical	Banking & Financial Services	48.3%	49.0%	46.3%	43.4%	41.8%	40.3%	40.8%	40.8%	38.3%
	Healthcare	30.3%	30.3%	32.1%	34.5%	34.2%	33.2%	32.6%	32.7%	33.5%
	Communications Media & Tech	19.6%	19.0%	20.2%	20.2%	21.6%	22.3%	21.8%	21.2%	22.5%
	Diverse Industries	1.8%	1.7%	1.4%	1.9%	2.4%	4.2%	4.8%	5.3%	5.7%
Revenue by Service Lines	Digitally Empowered Customer Experience	45.9%	44.4%	46.6%	47.7%	50.4%	52.6%	51.8%	52.9%	53.5%
	Intelligent Back Office	44.0%	36.5%	32.7%	30.9%	29.2%	27.0%	27.0%	25.2%	25.8%
	Platforms, Automation & Analytics	10.1%	19.1%	20.7%	21.4%	20.4%	20.4%	21.2%	21.9%	20.7%
Revenue by Geography	US	69.8%	70.7%	68.4%	67.2%	64.9%	63.3%	63.5%	65.1%	65.4%
	UK	28.5%	27.5%	30.1%	31.3%	34.1%	36.3%	36.4%	34.8%	34.5%
	Rest of World	1.7%	1.8%	1.5%	1.5%	1.0%	0.4%	0.1%	0.1%	0.1%
Revenue by Delivery	Offshore	30.8%	27.0%	27.4%	25.9%	25.1%	24.6%	25.6%	26.7%	30.3%
	Onshore	69.2%	73.0%	72.6%	74.1%	74.9%	75.4%	74.4%	73.3%	69.7%
Top Clients Revenue	Top client %	15.2%	14.8%	15.2%	14.9%	15.8%	15.4%	14.6%	12.7%	13.7%
	Top 5 client %	37.6%	35.9%	36.4%	36.6%	38.5%	37.4%	37.2%	35.0%	35.8%
Other Metrices	Total employees (end of period)	27,398	26,557	25,234	23,932	23,627	23,018	22,384	23,953	25,947
	• Employees in India	16,826	16,045	14,769	13,431	12,489	12,395	12,457	14,437	16,269
	• Employees outside India	10,572	10,512	10,465	10,501	11,138	10,623	9,927	9,516	9,678
	Net Addition	(437)	(841)	(1,323)	(1,302)	(305)	(609)	(634)	1,569	1,994
	Offshore Attrition (180 days+)	45.2%	45.9%	43.8%	45.7%	44.4%	42.3%	39.1%	36.1%	33.8%
	Onshore Attrition (180 days+)	59.5%	50.2%	56.9%	52.0%	47.2%	44.9%	45.3%	44.8%	43.3%

Note: Attrition data till FY22 is on a quarterly annualized basis and on a Trailing Twelve Months (TTM) basis effective Q1FY23

© FIRSTSOURCE | 23

==> picture [143 x 39] intentionally omitted <==

==> picture [74 x 31] intentionally omitted <==

THANK YOU

Investor relations

==> picture [43 x 44] intentionally omitted <==

© Firstsource Solutions Limited | www.firstsource.com

© FIRSTSOURCE | 24