Persistent Systems Limited — Capital/Financing Update 2020

Nov 7, 2020

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NSE & BSE / 2020-21 / 80 November 7, 2020

The Manager Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

The Manager Corporate Services, Bombay Stock Exchange Limited 14[th] Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Symbol: PERSISTENT

Ref: Scrip Code: 533179

Dear Sirs/Madam,

Sub: Update on acquisition of Capiot Software Inc., USA

Ref: Our earlier intimations regarding

1. Acquisition of Capiot Software Inc. USA vide letter no. NSE & BSE / 2020-21 / 67 dated October 15, 2020 and;

2. Update on Acquisition of Capiot Software Inc., USA vide letter no. NSE & BSE / 202021 / 77 dated October 29, 2020

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘Regulations’) and further to our above referred intimations, we wish to inform you that the necessary customary closing conditions with respect to acquisition of Capiot Software Inc., USA have been met by Persistent Systems Inc., USA, a wholly owned subsidiary of Persistent Systems Limited on November 7, 2020 (IST). Consequently, Capiot Software Inc., USA has become a Wholly Owned Subsidiary Company of Persistent Systems Inc., USA with effect from November 7, 2020 (IST).

Consequent to the above, Capiot Software Pte Ltd, Singapore and Capiot Software Pty Ltd, Australia which are the subsidiary companies of Capiot Software Inc., USA have become step-down subsidiary companies of Persistent Systems Inc., USA as well.

With this, it is confirmed that all customary closing conditions as stated in the Share Purchase Agreement (SPA) for this acquisition have been met.

Please acknowledge the receipt.

Thanking you,

Yours sincerely,

For Persistent Systems Limited

Amit Atre Company Secretary ICSI Membership No. A20507

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com