Infosys Ltd. — Regulatory Filings 2021

Oct 14, 2021

TO ALL STOCK EXCHANGES

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

October 14, 2021

Dear Sir/ Madam,

Sub: Newspaper advertisement pertaining to financial results of Q2 FY 2022

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, please find enclosed copies of the newspaper advertisement pertaining to financial results of the Company for the quarter and half year ended September 30, 2021. The advertisements were published in English and Kannada newspapers today.

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

Thanking you,

Yours sincerely, For Infosys Limited

A.G.S. Manikantha Company Secretary

ಪ್ರಜಾತಿ ವಾಣಿ	ಗುರುವಾರ • ಅಕ್ಟೋಬರ್ 14, 2021

Intos Navigate your next

Infosys Limited

Regd. office: Electronics City, Hosur Road, Bengaluru 560 100, India.

CIN: L85110KA1981PLC013115 Website: www.infosys.com Email: investors@infosys.com T: 91 80 2852 0261 F: 91 80 2852 0362

Q2 FY 22 Financial Results

ರಾಜ್ರ

Extract of the consolidated audited financial results of Infosys Limited and its subsidiaries for the quarter and half-year ended September 30, 2021 prepared in compliance with the Indian Accounting Standards (Ind-AS)

(in $\bar{\tau}$ crore except per equity share data)

Particulars	Quarter ended September 30,	Half-year ended September 30,	Quarter ended September 30,
	2021	2021	2020
Revenue from operations	29,602	57,498	24,570
Profit before tax	7,448	14,623	6,750
Profit for the period	5,428	10,629	4,858
Total comprehensive income for the period (comprising profit for the period after tax and other comprehensive income after tax)	5,377	10,879	4,863
Profit attributable to:
Owners of the Company	5,421	10,616	4,845
Non-controlling interest		13	13
	5,428	10,629	4,858
Total comprehensive income attributable to:
Owners of the Company	5,375	10,866	4,847
Non-controlling interest		13	16
	5,377	10,879	4,863
Paid-up share capital (par value ₹5/- each fully paid)	2,097	2,097	2,123
Other equity *#	74,227	74,227	63,328
Earnings per equity share (par value ₹5/- each)**
Basic $(\bar{\tau})$	12.88	25.11	11.42
Diluted $(₹)$	12.85	25.06	11.40

Balances for the quarter and half year ended September 30, 2021 represents balances as per the audited Balance Sheet for the year ended March 31, 2021 and balances for the quarter ended September 30, 2020 represents balances as per the audited Balance Sheet for the year ended March 31, 2020 as required by the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015.

EPS is not annualized for the quarter and half year ended September 30, 2021 and quarter ended September 30, 2020.

Excludes non-controlling interest

1. Notes pertaining to the current quarter

a) The audited interim condensed consolidated financial statements for the quarter and half-year ended September 30, 2021 have been taken on record by the Board of Directors at its meeting held on October 13, 2021. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information presented above is extracted from the audited interim condensed consolidated financial statements. These interim condensed consolidated financial statements are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.

b) Buyback of equity shares

The shareholders approved the proposal of buyback of equity shares recommended by its Board of Directors in the Annual General Meeting held on June 19, 2021. The buyback was offered to all eligible equity shareholders of the Company (other than the Promoters, the Promoter Group and Persons in Control of the Company) under the open market route through the stock exchange. The buyback of equity shares through the stock exchange commenced on June 25, 2021 and was completed on September 8, 2021 and the Company bought back and extinguished a total of 5,58,07,337 equity shares from the stock exchange at a volume weighted average buyback price of ₹1,648.53 per equity share comprising 1.31% of the pre-buyback paid-up equity share capital of the Company. The buyback resulted in a cash outflow of ₹9,200 crore (excluding transaction costs and tax on buyback). The Company funded the buyback from its free reserves including Securities Premium as explained in Section 68 of the Companies Act, 2013. In accordance with Section 69 of the Companies Act, 2013, as at September 30, 2021, the Company has created a 'Capital Redemption Reserve' of ₹28 crore equal to the nominal value of the shares bought back as an appropriation from the general reserve.

c) Estimation of uncertainties relating to the global health pandemic from COVID-19 ("COVID-19"):

The Group has considered the possible effects that may result from COVID-19 in the preparation of these interim condensed consolidated financial statements including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the Group has, at the date of approval of these condensed financial statements, used internal and external sources of information including credit reports and related information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Group's financial statements may differ from that estimated as at the date of approval of these interim condensed consolidated financial statements.

d) Employee stock grants

On the recommendation of the Nomination and Remuneration Committee, the Board, on October 13, 2021 approved the grant of 25,270 RSUs to certain eligible employees under the 2015 Plan. The grant date for these RSUs is November 1, 2021. The RSUs would vest over a period of two to three years and the exercise price of RSUs will be equal to the par value of the share.

2. Information on dividends for the quarter and half-year ended September 30, 2021

The Board of Directors declared an interim dividend of ₹15/- per equity share. The record date for the payment is October 27, 2021. The interim dividend will be paid on November 10, 2021. The interim dividend declared in the previous year was ₹12/- per equity share. $(in \bar{z})$

Particulars	Quarter ended September 30,	Half-year ended September 30,	Quarter ended September 30,
	2021	2021	2020
Dividend per share (par value ₹5/- each)
Interim dividend	15.00	15.00	12.00
Final dividend	-

3. Audited financial results of Infosys Limited (Standalone information)

(in $\bar{\tau}$ crore)

Particulars	Quarter ended September 30,	Half-year ended September 30,	Quarter ended September 30,
	2021	2021	2020
Revenue from operations	25,462	49,176	21,046
Profit before tax	7,303	13,796	6,163
Profit for the period	5,463	10,186	4,497

The above is an extract of the detailed format of the quarterly audited financial results filed with stock exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the quarterly audited financial results are available on the stock exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.infosys.com.

By order of the Board

for Infosys Limited

$Sd$ -

Salil Parekh

Bengaluru, India

October 13, 2021

Chief Executive Officer and Managing Director

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, 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 COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and 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 unless it is required by law.

Infosys Limited

Regd. office: Electronics City, Hosur Road, Bengaluru 560 100, India.

CIN: L85110KA1981PLC013115 Website: www.infosys.com Email: investors@infosys.com T: 91 80 2852 0261 F: 91 80 2852 0362

Q2 FY 22 Financial Results

Extract of the consolidated audited financial results of Infosys Limited and its subsidiaries for the quarter and half-year ended September 30, 2021 prepared in compliance with the Indian Accounting Standards (Ind-AS)

(in ₹ crore except per equity share data)

Particulars	Quarter ended September 30,	Half-year ended September 30,	Quarter ended September 30,
	2021	2021	2020
Revenue from operations	29,602	57,498	24,570
Profit before tax	7,448	14,623	6,750
Profit for the period	5,428	10,629	4,858
Total comprehensive income for the period (comprising profit for the period after tax and other comprehensive income after tax)	5,377	10,879	4,863
Profit attributable to:
Owners of the Company	5,421	10,616	4,845
Non-controlling interest		13	13 I
	5,428	10,629	4,858
Total comprehensive income attributable to:
Owners of the Company	5,375	10,866	4,847
Non-controlling interest		13	16
	5,377	10,879	4,863
Paid-up share capital (par value ₹5/- each fully paid)	2,097	2,097	2,123
Other equity $*$ #	74,227	74,227	63,328
Earnings per equity share (par value ₹5/- each)**
Basic $(₹)$	12.88	25.11	11.42
Diluted $(₹)$	12.85	25.06	11.40

• Balances for the quarter and half year ended September 30, 2021 represents balances as per the audited Balance Sheet for the year ended March 31, 2021 and balances for the quarter ended September 30, 2020 represents balances as per the audited Balance Sheet for the year ended March 31, 2020 as required by the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015.
• EPS is not annualized for the quarter and half year ended September 30, 2021 and quarter ended September 30, 2020. $***$
• Excludes non-controlling interest

1. Notes pertaining to the current quarter

The audited interim condensed consolidated financial statements for the quarter and half-year ended September 30, 2021 have been a) taken on record by the Board of Directors at its meeting held on October 13, 2021. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information presented above is extracted from the audited interim condensed consolidated financial statements. These interim condensed consolidated financial statements are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.

b) Buyback of equity shares

The shareholders approved the proposal of buyback of equity shares recommended by its Board of Directors in the Annual General Meeting held on June 19, 2021. The buyback was offered to all eligible equity shareholders of the Company (other than the Promoters, the Promoter Group and Persons in Control of the Company) under the open market route through the stock exchange. The buyback of equity shares through the stock exchange commenced on June 25, 2021 and was completed on September 8, 2021 and the Company bought back and extinguished a total of 5,58,07,337 equity shares from the stock exchange at a volume weighted average buyback price of ₹1,648.53 per equity share comprising 1.31% of the pre-buyback paid-up equity share capital of the Company. The buyback resulted in a cash outflow of ₹9,200 crore (excluding transaction costs and tax on buyback). The Company funded the buyback from its free reserves including Securities Premium as explained in Section 68 of the Companies Act, 2013. In accordance with Section 69 of the Companies Act, 2013, as at September 30, 2021, the Company has created a 'Capital Redemption Reserve' of ₹28 crore equal to the nominal value of the shares bought back as an appropriation from the general reserve.

c) Estimation of uncertainties relating to the global health pandemic from COVID-19 ("COVID-19"):

The Group has considered the possible effects that may result from COVID-19 in the preparation of these interim condensed consolidated financial statements including the recoverability of carrying amounts of financial and non-financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the Group has, at the date of approval of these condensed financial statements, used internal and external sources of information including credit reports and related information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Group's financial statements may differ from that estimated as at the date of approval of these interim condensed consolidated financial statements.

d) Employee stock grants

On the recommendation of the Nomination and Remuneration Committee, the Board, on October 13, 2021 approved the grant of 25,270 RSUs to certain eligible employees under the 2015 Plan. The grant date for these RSUs is November 1, 2021. The RSUs would vest over a period of two to three years and the exercise price of RSUs will be equal to the par value of the share.

2. Information on dividends for the quarter and half-year ended September 30, 2021

The Board of Directors declared an interim dividend of ₹15/- per equity share. The record date for the payment is October 27, 2021. The interim dividend will be paid on November 10, 2021. The interim dividend declared in the previous year was ₹12/- per equity share. (in ₹)

Particulars	Quarter ended September 30,	Half-year ended September 30,	Quarter ended September 30,
	2021	2021	2020
Dividend per share (par value ₹5/- each)
Interim dividend	15.00	15.00	12.00
Final dividend	—

3. Audited financial results of Infosys Limited (Standalone information)

$(in ₹ correct)$

Particulars	Quarter ended September 30,	Half-year ended September 30,	Quarter ended September 30,
	2021	2021	2020
Revenue from operations	25,462	49,176	21,046
Profit before tax	7,303	13,796	6,163
Profit for the period	5,463	10,186	4,497

The above is an extract of the detailed format of the quarterly audited financial results filed with stock exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the quarterly audited financial results are available on the stock exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.infosys.com.

By order of the Board

for Infosys Limited

Sd/-

Salil Parekh

Bengaluru, India

October 13, 2021

Chief Executive Officer and Managing Director

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, 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 COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and 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 unless it is required by law.