Infosys Ltd. - Audit Report / Information 2022

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TO ALL STOCK EXCHANGES

BSE LIMITED NATIONAL STOCK EXCHANGE OF INDIA LIMITED NEW YORK STOCK EXCHANGE

July 15, 2021

Dear Sir/ Madam,

Sub: Report of auditors on financial statements for the quarter ended June 30, 2021 with UDIN

In continuation to our financial statements for the quarter ended June 30, 2021 which were filed with the exchanges after the Board Meeting held on July 14, 2021, please find attached the auditors reports on these financial statements with Unique Document Identification Number for your records.

This information will also be hosted on the Company’s website, at www.infosys.com.

Thanking you,

Yours sincerely, For Infosys Limited

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A.G.S. Manikantha Company Secretary

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Chartered Accountants Indiabulls Finance Centre, 27th-32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India.

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Phone: +91 22 6185 4000 Fax: +91 22 6185 4001

ON THE AUDIT OF THE CONSOLIDATED

FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Opinion

We have audited the accompanying Statement of Consolidated Financial Results of INFOSYS LIMITED June 30, 2021 submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing In our opinion and to the best of our information and according to the explanations given to us, the Statement:

i. includes the results of the entities as given in the Annexure to this report;
ii. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
iii. gives a true and fair view in conformity with the recognition and measurement evant rules issued thereunder and other accounting principles
generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the quarter ended June 30, 2021.

Basis for Opinion

s) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in inancial results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute relevant to our audit of the consolidated financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with by us is sufficient and appropriate to provide a basis for our audit opinion.

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of Directors, has been compiled from the audited interim condensed consolidated financial statements for the quarter ended June 30, 2021 of Directors is responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group in accordance with the

Regd. Office: Indiabulls Finance Centre, Tower 3, 27[th] 32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737)

recognition and measurement principles laid down in the Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The respective Boards of Directors of the companies included in the Group are responsible for maintenance of the adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Company, as aforesaid.

In preparing the consolidated financial results, the respective Boards of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Boards of Directors either intends to liquidate their respective entities or to cease operations, or have no realistic alternative but to do so.

The respective Boards of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.

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Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations
basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the Financial Information of the entities within the Group to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors.

Materiality is the magnitude of misstatements in the consolidated financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the consolidated financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the consolidated financial results.

We communicate with those charged with governance of the Company and such other entities included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

117366W/W-100018)

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Sanjiv V. Pilgaonkar Partner (Membership No.039826) UDIN: 21039826AAAAFG8785

Place: Mumbai Date: July 14, 2021

Annexure to Auditor s Report

List of Entities:

Infosys Technologies (China) Co. Limited
Infosys Technologies S. de R. L. de C. V.
Infosys Technologies (Sweden) AB.
Infosys Technologies (Shanghai) Company Limited
Infosys Nova Holdings LLC.
EdgeVerve Systems Limited
Infosys Austria GmbH
Skava Systems Private Limited (under liquidation)
Kallidus Inc. (liquidated effective March 9, 2021)
Infosys Chile SpA
Infosys Arabia Limited
Infosys Consulting Ltda.
Infosys CIS LLC (liquidated effective January 28, 2021)
Infosys Luxembourg SARL
Infosys Americas Inc.
Infosys Public Services, Inc.
Infosys Canada Public Services Inc.
Infosys BPM Limited
Infosys (Czech Republic) Limited s.r.o.
Infosys Poland Sp Z.o.o
Infosys McCamish Systems LLC
Portland Group Pty Ltd
Infosys BPO Americas LLC.
Infosys Consulting Holding AG
Infosys Management Consulting Pty Limited
Infosys Consulting AG
Infosys Consulting GmbH
Infosys Consulting S.R.L, Romania
Infosys Consulting SAS
Infosys Consulting s.r.o. (under liquidation)
Infosys Consulting (Shanghai) Co., Ltd. (under liquidation)
Infy Consulting Company Limited 33. Infy Consulting B.V.
Infosys Consulting Sp. Z.o.o (merged with Infosys Poland Sp Z.o.o effective October 21, 2020)
Lodestone Management Consultants Portugal, Unipessoal, Lda. (liquidated effective November 19, 2020)
Infosys Consulting S.R.L, Argentina
Infosys Consulting (Belgium) NV
Panaya Inc.
Panaya GmbH
Panaya Limited.

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Brilliant Basics Holdings Limited
Brilliant Basics Limited
Brilliant Basics (MENA) DMCC (liquidated effective July 17, 2020)
Infosys Consulting Pte Ltd.
Infosys Middle East FZ LLC
Fluido Oy
Fluido Sweden AB (Extero)
Fluido Norway A/S
Fluido Denmark A/S
Fluido Slovakia s.r.o
Fluido Newco AB (merged with Fluido Sweden AB effective December 18, 2020)
Infosys Compaz PTE. Ltd
Infosys South Africa (Pty) Ltd
WongDoody Holding Company Inc.
WDW Communications, Inc.
WongDoody, Inc
HIPUS
Stater N.V.
Stater Nederland B.V.
Stater Duitsland B.V. (merged with Stater N.V effective December 23, 2020)
Stater XXL B.V.
HypoCasso B.V.
Stater Participations B.V.
Stater Deutschland Verwaltungs-GmbH (merged with Stater Duitsland effective December 18, 2020)
Stater Deutschland GmbH & Co. KG (merged with Stater Duitsland effective December 18, 2020)
Stater Belgium N.V./S.A.
Outbox systems Inc. dba Simplus (US)
Simplus North America Inc. (liquidated effective April 27, 2021)
Simplus ANZ Pty Ltd.
Simplus Australia Pty Ltd
Sqware Peg Digital Pty Ltd (under liquidation)
Simplus Philippines, Inc.
Simplus Europe, Ltd. (under liquidation)
Infosys Fluido U.K., Ltd. (formerly Simplus U.K, Ltd)
Infosys Fluido Ireland, Ltd. (formerly Simplus Ireland, Ltd)
Infosys Limited Bulgaria EOOD (incorporated effective September 11, 2020)
Infosys BPM UK Limited (incorporated effective December 09, 2020)
Blue Acorn LLC (acquired on October 27, 2020)
Beringer Commerce Inc (acquired on October 27, 2020)
Beringer Capital Digital Group Inc (acquired on October 27, 2020)
Mediotype LLC (acquired on October 27, 2020)
Beringer Commerce Holdings LLC (acquired on October 27, 2020)
SureSource LLC (acquired on October 27, 2020)
Simply Commerce LLC (acquired on October 27, 2020)
iCiDIGITAL LLC (acquired on October 27, 2020)
Kaleidoscope Animations, Inc; (acquired on October 09, 2020)
Kaleidoscope Prototyping LLC; (acquired on October 09, 2020)
GuideVision s.r.o (acquired on October 01, 2020)
GuideVision Deutschland GmbH (acquired on October 01, 2020)
GuideVision Suomi Oy (acquired on October 01, 2020)

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GuideVision Magyarorszag Kft (acquired on October 01, 2020)
GuideVision Polska SP Z.O.O (acquired on October 01, 2020)
GuideVision UK Ltd (acquired on October 01, 2020)
Infosys Turkey Bilgi Teknolojikeri Sirketi (incorporated effective December 30, 2020)
Infosys Germany Holding Gmbh (incorporated on March 23, 2021)
Infosys Automotive and Mobility GmbH & Co. KG, a partnership firm (formed on March 28, 2021).
Infosys Employees Welfare Trust
Infosys Employee Benefits Trust

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Infosys Science Foundation
100.Infosys Expanded Stock Ownership Trust

Chartered Accountants Indiabulls Finance Centre, 27th-32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India.

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Phone: +91 22 6185 4000 Fax: +91 22 6185 4001

RESULTS

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Opinion

We have audited the accompanying Statement of Standalone Financial Results of INFOSYS LIMITED rter ended June 30, 2021 Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
b. gives a true and fair view in conformity with the recognition and measurement principles laid down in Ind AS 34 ) prescribed under
other accounting principles generally accepted in India of the net profit and total comprehensive income, and other financial information of the Company for the quarter ended June 30, 2021.

Basis for Opinion

We conducted our audit of the Statement in accordance with the Standards under Section 143(10) of the Act. Our responsibilities under those Standards are further described in independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Directors, has been compiled from the related audited interim condensed standalone financial statements for the quarter ended June 30, 2021

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and presentation of the standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating

Regd. Office: Indiabulls Finance Centre, Tower 3, 27[th] 32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737)

effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors is responsible for assessing the concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the financial reporting process of the Company.

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole is free from material m

includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
Conclude on the appro accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our a going concern.
Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.

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Obtain sufficient appropriate audit evidence regarding the standalone financial results of the Company to express an opinion on the standalone financial results.

Materiality is the magnitude of misstatements in the standalone financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the standalone financial results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants 117366W/W-100018)

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Sanjiv V. Pilgaonkar Partner (Membership No.039826) UDIN: 21039826AAAAFI7996

Place: Mumbai Date: July 14, 2021

Chartered Accountants Indiabulls Finance Centre, 27th-32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India.

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Phone: +91 22 6185 4000 Fax: +91 22 6185 4001

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Report on the Audit of the Interim Condensed Consolidated Financial Statements

Opinion

We have audited the accompanying Interim condensed consolidated financial statements of INFOSYS LIMITED alance Sheet as at June 30, 2021, the Condensed Consolidated Statement of Comprehensive Income, the Condensed Consolidated Statement of Changes in Equity and the Condensed Consolidated Statement of Cash Flows for the three months ended on that date, and a summary of the significant accounting policies

alance Sheet as

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid interim condensed consolidated financial statements give a true and fair view in conformity with International Accounting Standards Board of the consolidated state of affairs of the Group as at June 30, 2021, the consolidated profit and consolidated total comprehensive income, consolidated changes in equity and its consolidated cash flows for the three months ended on that date.

Basis for Opinion

We conducted our audit of the interim condensed consolidated financial statements in accordance with the Standards on Auditing ( SA s) issued by the Institute of Chartered Accountants of India Responsibilities for the Audit of the interim condensed consolidated financial statements section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the ICAI and we have fulfilled our other ethical responsibilities in accordance with the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the interim condensed consolidated financial statements.

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ble for the preparation and presentation of these interim condensed consolidated financial statements that give a true and fair view of the consolidated financial position, consolidated financial performance, consolidated total comprehensive income, consolidated changes in equity and consolidated cash flows of the Group in accordance with IAS 34 as issued by the IASB. The respective Boards of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records for safeguarding assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were

Regd. Office: Indiabulls Finance Centre, Tower 3, 27[th] 32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737)

operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective interim financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error which have been used for the purpose of preparation of the interim condensed consolidated financial statements by the Directors of the Company, as aforesaid.

In preparing the interim condensed consolidated financial statements, the respective Boards of Directors of the companies included in the Group are responsible for assessing ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Boards of Directors either intend to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Boards of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Statements

Our objectives are to obtain reasonable assurance about whether the interim condensed consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, n. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these interim condensed consolidated financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the interim condensed consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

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and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the interim condensed consolidated financial statements, including the disclosures, and whether the interim condensed consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the interim condensed consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the interim condensed consolidated financial statements of which we are independent auditors.

Materiality is the magnitude of misstatements in the interim condensed consolidated financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the interim condensed consolidated financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the interim condensed consolidated financial statements.

We communicate with those charged with governance of the Company and such other entities included in the interim condensed consolidated financial statements of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants 117366W/W-100018)

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Sanjiv V. Pilgaonkar Partner (Membership No.039826) UDIN: 21039826AAAAFL1564

Place: Mumbai Date: July 14, 2021

Chartered Accountants Indiabulls Finance Centre, 27th-32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India.

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Phone: +91 22 6185 4000 Fax: +91 22 6185 4001

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Report on the Audit of the Interim Condensed Consolidated Financial Statements

Opinion

We have audited the accompanying interim condensed consolidated financial statements of INFOSYS LIMITED alance Sheet as at June 30, 2021, the Condensed Consolidated Statement of Comprehensive Income, the Condensed Consolidated Statement of Changes in Equity and the Condensed Consolidated Statement of Cash Flows for the three months ended on that date, and a summary of the significant

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid interim condensed consolidated financial statements give a true and fair view in conformity with as issued by the , of the consolidated state of affairs of the Group as at June 30, 2021, the consolidated profit and consolidated total comprehensive income, consolidated changes in equity and its consolidated cash flows for the three months ended on that date.

Basis for Opinion

We conducted our audit of the interim condensed consolidated financial statements in accordance with the Standards on Auditing ( SA s) issued by the Institute of Chartered Accountants of India Responsibilities for the Audit of the Interim Condensed Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the ICAI, and we have fulfilled our other ethical responsibilities in accordance with the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the interim condensed consolidated financial statements.

Statements

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interim condensed consolidated financial statements that give a true and fair view of the consolidated financial position, consolidated financial performance, consolidated total comprehensive income, consolidated changes in equity and consolidated cash flows of the Group in accordance with IAS 34 as issued by the IASB. The respective Boards of Directors of the companies included in the Group are responsible for maintenance of the adequate accounting records for safeguarding assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of

Regd. Office: Indiabulls Finance Centre, Tower 3, 27[th] 32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737)

adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective interim financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error which have been used for the purpose of preparation of the interim condensed consolidated financial statements by the Directors of the Company, as aforesaid.

In preparing the interim condensed consolidated financial statements, the respective Boards of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Boards of Directors either intend to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Boards of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Interim Condensed Consolidated Financial

Statements

Our objectives are to obtain reasonable assurance about whether the interim condensed consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and t a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these interim condensed consolidated financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the interim condensed consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of

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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required the interim condensed
consolidated financial statements or, if such disclosures are inadequate, to modify our opinion.

However, future events or conditions may cause the Group to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the interim condensed consolidated financial statements, including the disclosures, and whether the interim condensed consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the interim condensed consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the interim condensed consolidated financial statements of which we are the independent auditors.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants 117366W/W-100018)

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Sanjiv V. Pilgaonkar Partner (Membership No.039826) UDIN: 21039826AAAAFK2169

Place: Mumbai Date: July 14, 2021

Chartered Accountants Indiabulls Finance Centre, 27th-32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India.

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Phone: +91 22 6185 4000 Fax: +91 22 6185 4001

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Report on the Audit of the Interim Condensed Standalone Financial Statements

Opinion

We have audited the accompanying interim condensed standalone financial statements of INFOSYS LIMITED June 30, 2021, the Condensed Statement of Profit and Loss (including Other Comprehensive Income), the Condensed Statement of Changes in Equity and the Condensed Statement of Cash Flows for the three months ended on that date, and a summary of the significant accounting policies and other

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid interim condensed standalone financial statements give a true and fair view in conformity with Indian Accounting Standard 34 Interim Financial Reporting ) prescribed under section 133 of the Companies Act, 2013 (the read with relevant rules issued thereunder and other accounting principles generally accepted in India, of the state of affairs of the Company as at June 30, 2021, the profit and total comprehensive income, changes in equity and its cash flows for the three months ended on that date.

Basis for Opinion

We conducted our audit of the interim condensed standalone financial statements in accordance with the Standards on Auditing ( SA s) specified under section 143 (10) of the Act. Our responsibilities under those Standards are further described in the Audit of the Interim Condensed Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of Ind our audit of the interim condensed standalone financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance by us is sufficient and appropriate to provide a basis for our audit opinion on the interim condensed standalone financial statements.

Management Responsibilities for the Interim Condensed Standalone Financial Statements

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interim condensed standalone financial statements that give a true and fair view of the financial position, financial performance, including total comprehensive income, changes in equity and cash flows of the Company in accordance with Ind AS 34 and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate

Regd. Office: Indiabulls Finance Centre, Tower 3, 27[th] 32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737)

accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the interim condensed standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the interim condensed standalone financial statements, management is responsible for related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

ensed Standalone Financial

Statements

Our objectives are to obtain reasonable assurance about whether the interim condensed standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audit

assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these interim condensed standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the interim condensed standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or going concern. If we conclude that a material uncertainty exists, we are required to draw nsed standalone
financial statements or, if such disclosures are inadequate, to modify our opinion. Our However, future events or conditions may cause the Company to cease to continue as a going concern.

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Evaluate the overall presentation, structure and content of the interim condensed standalone financial statements, including the disclosures, and whether the interim condensed standalone

financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the interim condensed standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the interim condensed standalone financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the interim condensed standalone financial statements.

We also communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants 117366W/W-100018)

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Sanjiv V. Pilgaonkar Partner (Membership No.039826) UDIN: 21039826AAAAFJ9549

Place: Mumbai Date: July 14, 2021

Chartered Accountants Indiabulls Finance Centre, 27th-32nd Floor, Tower 3, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India.

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Phone: +91 22 6185 4000 Fax: +91 22 6185 4001

INDEPENDENT

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Report on the Audit of the Interim Condensed Consolidated Financial Statements

Opinion

We have audited the accompanying interim condensed consolidated financial statements of INFOSYS LIMITED and its subsidiaries (the Company and its subsidiaries together referred to which comprise the Condensed Consolidated Balance Sheet as at June 30, 2021, the Condensed Consolidated Statement of Profit and Loss (including Other Comprehensive Income), the Condensed Consolidated Statement of Changes in Equity and the Condensed Consolidated Statement of Cash Flows for the three months ended on that date, and a summary of the significant accounting policies

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid interim condensed consolidated financial statements give a true and fair view in conformity with on 133 of the Companies Act, 2013 (the accounting principles generally accepted in India, of the consolidated state of affairs of the Group as at June 30, 2021, the consolidated profit and consolidated total comprehensive income, changes in equity and its cash flows for the three months ended on that date.

Basis for Opinion

We conducted our audit of the interim condensed consolidated financial statements in accordance with the Standards on Auditing ( SA s) specified under section 143 (10) of the Act. Our responsibilities under those Standards are further described in the Condensed Consolidated Financial Statements section of our report. We are independent of the Group in together with the ethical requirements that are relevant to our audit of the interim condensed consolidated financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the interim condensed consolidated financial statements.

Management Responsibilities for the Interim Condensed Consolidated Financial Statements

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ble for the preparation and presentation of these interim condensed consolidated financial statements that give a true and fair view of the consolidated financial position, consolidated financial performance, consolidated total comprehensive income, consolidated changes in equity and consolidated cash flows of the Group in accordance with Ind AS 34 and other accounting principles generally accepted in India. The respective Boards of Directors of the companies included in the Group are responsible for maintenance of the adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of

Regd. Office: Indiabulls Finance Centre, Tower 3, 27[th] 32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737)

In preparing the interim condensed consolidated financial statements, the respective Boards of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Boards of Directors either intend to liquidate their own respective entities or to cease operations, or have no realistic alternative but to do so.

The respective Boards of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Statements

Our objectives are to obtain reasonable assurance about whether the interim condensed consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these interim condensed consolidated financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the interim condensed consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in ou report to the related disclosures in the interim condensed consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence report. However, future events or conditions may cause the
Group to cease to continue as a going concern.

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Evaluate the overall presentation, structure and content of the interim condensed consolidated financial statements, including the disclosures, and whether the interim condensed consolidated

financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the interim condensed consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of financial statements of such entities included in the interim condensed consolidated financial statements of which we are independent auditors.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants

117366W/W-100018)

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Sanjiv V. Pilgaonkar Partner (Membership No.039826) UDIN: 21039826AAAAFH7716

Place: Mumbai Date: July 14, 2021

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Infosys Ltd. — Audit Report / Information 2022

17843_rns_2021-07-15_0f8d8910-8927-4626-a761-29550563a34f.pdf

TO ALL STOCK EXCHANGES

BSE LIMITED NATIONAL STOCK EXCHANGE OF INDIA LIMITED NEW YORK STOCK EXCHANGE

ON THE AUDIT OF THE CONSOLIDATED

FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Opinion

Basis for Opinion

For DELOITTE HASKINS & SELLS LLP

Annexure to Auditor s Report

List of Entities:

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Opinion

Basis for Opinion

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Opinion

Basis for Opinion

Statements

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Opinion

Basis for Opinion

Statements

Interim Condensed Consolidated Financial

Statements

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Report on the Audit of the Interim Condensed Standalone Financial Statements

Opinion

Basis for Opinion

Management Responsibilities for the Interim Condensed Standalone Financial Statements

ensed Standalone Financial

Statements

INDEPENDENT

TO THE BOARD OF DIRECTORS OF INFOSYS LIMITED

Report on the Audit of the Interim Condensed Consolidated Financial Statements

Opinion

Basis for Opinion

Management Responsibilities for the Interim Condensed Consolidated Financial Statements

Statements

For DELOITTE HASKINS & SELLS LLP Chartered Accountants

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Infosys Ltd. Audit Report / Information 2022