Sonata Software Ltd. — Investor Presentation 2025

Nov 13, 2025

INVESTOR PRESENTATION Q2 FY'26

www.sonata-software.com

Sonata: A modernization engineering firm…

From: 80-20 run-change

To: 80-20 change-run

Digital Experience Platforms, AI/Data Platforms & Continuous Modernization

Mid-caps: Business Heads / CXO's to transform their firm

Large caps: CIO looking for AGILE partners

Sonata At A Glance

We are a Modernization and a Digital Engineering company powered by our unique PLATFORMATION framework.

39 Years IT solutions provider

Public Listed (SONATSOFTW)

\$1.2B+ Revenue

15.4% 10 years CAGR

6600+ Engineers across US, EU, Asia & ANZ

15+ Different Nationalities

Delivering Outcome-based Modernization Services

Digital transformation using PlatformationTM

Serving Our Global Clients with Right Talent Mix (Global & Local Talent)

Global Delivery Center & Sales Office

Sales Office

Our Performance vision and aspiration for Sonata…

Key Verticals, Partners, IPs

What's Working Well for Us…

Large Deals and Accounts

Steady increase in Large Deals Between FY22 and to date – we have closed 'NET NEW' 24 deals with TCV of \$467M

\$73M – TMT client Cloud Modernization

\$56M – Healthcare client Cloud & Infra Operations

\$11M – Healthcare client Platform Engineering

28 large deals in the pipeline – these deals take 4-6 quarters of pursuit (on average)

We Won One Large Deal in Q2 – Healthy Large Deal Pipeline

Large Deals

Healthcare Corporation – US Platform Engineering

Mid Sized Deals

Financial Mortgage Corporation – US Cloud and Data Transformation

Capital Goods Corporation – Australia Infra and Managed Services

Large Deal Win: AI driven IT Infrastructure Outsourcing

Client Overview

A leading bedside diagnostic and clinical service company specializing in serving post – acute care patients. They have deployed experienced healthcare professionals and leading- edge technology to provide X-ray, ultrasound, EKG, clinical Laboratory, nurse practitioner – based primary care, vascular access and other services to millions of patients

End to end IT, infrastructure outsourcing – which means Sonata would be managing entire IT landscape. Across "Run", "Change" and "Transform" business.

• Support Existing Platform (across multiple lines of businesses)
• Transformation drive innovation
• AI/Agentic led automation to accelerate business process

Quality of Growth – Top Client's Movement

40% of Top 10 Accounts are Fortune 500 Companies

Sonata Launches AgentBridge 4.0

Modernization Success…

Our big bets on Cloud & Data has scaled…

Between FY22 and now – we increased Cloud & Data as a percentage of revenue from

Verticals & Geos Scale up …

HLS + BFSI continue to scale (9% to 33%). TMT is witnessing a resurge; US scales steadily

	Cloud Apps Modernization	Data & Analytics	Microsoft Business Apps	Service Experience Transformation	Hyper Automation	Managed Services
Our GTM's are Aligned with Our
Partners and Our Investment
Focus…			MSFT Market Place Partners

Microsoft-Sonata Partnership: 30+ Years of Jointly Driving Customer Success

Sonata named again in Inner Circle for Microsoft Business Application 2024-25

AI/Gen-AI	400+ Clients Across The Globe	\$650+ Million Per Annum Revenue To
Industry Partnership	USA, Europe, Asia, India, Australia, Middle East	Microsoft
3500+ Team On Microsoft Technologies	Microsoft Cloud Solution Partner - Azure Expert MSP Competencies. 10 Advanced Specialization in Dynamics 365, Data Analytics, Teams, CAF, M365, Azure	Joint Execution Microsoft Fasttrack, Global Delivery, Microsoft Consulting Services
Catalyst Led Sales Process Industry Point Of View, Business Value Assessment, Envisioning Workshops, Design Thinking	Industry Clouds Go To Market Healthcare, Retail, Sustainability, Manufacturing	Industry Digital Transformation Retail, CPG, Manufacturing, Telecom, Healthcare, Hi-tech, BFSI	Cybersecurity Investment Partner (CSI)

Partner for Microsoft Fabric

Partner for RPA Migration 100

Success Stories (1/4)

Development of Enterprise Playground powered by AI, a secure and responsible first AI platform

Client	Industry	Locations	A leading kitchen and household
Overview	CPG	USA & Canada	consumer products company
The Pressure Points • Security and Privacy concerns on PII data • Lack of control and oversight on using LLMs particularly when dealing with sensitive data. • Higher licensing cost to support large user base • Ability to support scalability and growth needs	Solutions • • • permissions •	Comprehensive solution for responsible usage of Gen AI for day to-day tasks: Multi-Provider Integration: Supports Azure OpenAI, AWS Bedrock, OpenAI, Anthropic, and Gemini. Robust Security & Privacy and Access Control: PII detection and masking, content moderation, ensure data protection. AWS Guardrails integrated, implemented role-based access to regulate user Monitoring: Consumption dashboard, telemetry, audit logs, and session throttling for control over LLM usage.	Results • Enhanced Employee Productivity significantly with integrated Gen AI into their daily operations. • Enhanced Security Standards & Protection of PII data with high accuracy in PII detection & moderation . • Exploration, Experimentation, Learning & Skill Development • Fostering innovation and creativity • Flexible: Allowed seamless switching between LLM & LLM service providers • Scalable Solution: Supported a large user base across multiple departments & regions.

Success Stories (2/4)

Modernizing and transforming the Clinic's Data Ecosystem for faster, smarter, and more secure decision making

Client
Overview

Industry Healthcare Locations Central London, UK UK based largest private healthcare organisation and registered charity

The Pressure Points Solutions Results

• Legacy system built in Microsoft Access with complex SQL and VBA scripts
• Final outputs are generated in Excel, requiring manual formatting
• Processing is slow and prone to errors
• Uses Activity-Based Costing (ABC) to allocate costs at patient and procedure levels
• Aligns General Ledger (GL) with cost pool mappings for accurate cost allocation

Robust Architecture using Microsoft Fabric

• Transformation Logic: Recreate SQL/VBA logic using Notebooks (PySpark and SQL)
• Power Apps Integration: Provide a user-friendly interface for finance team
• Trigger updates to Fabric datasets via Power Automate
• Live Dashboards by Power BI Reporting

• Connect directly to Fabric Lakehouse or Warehouse for real-time analytics

• Performance: Faster processing with scalable compute

• Security: Role-based access, data lineage, and governance
• Automation: Eliminate manual Excel formatting and script errors
• Collaboration: Unified workspace for finance, IT, and analytics teams
• Real time insights on profitability and manage changing costs

Success Stories (3/4)

Model driven Application for GPMO for efficient management of Risks and Lessons Learnt

Client Overview	Industry Life Science

• Data Silos from various disparate sources and

• Manual Data Entry and

Compatibility Challenges

• Limited Real-Time Insights on operations, projects and performance, impacting decision-making and overall

• Weak Data Governance and

• Inconsistent and Redundant

stakeholders

Processing

efficiency

Security

• Integration and

Data

The Pressure Points Solutions Results

• Built robust Model driven Application to capture the risks and lessons learned

Location(HQ) Tokyo, Japan

• Built data pipelines to move the data from Dataverse to Azure SQL DB
• Real time Power BI dashboards to provide real time insights on the data
• Solution is focused on
• o reduction in processing time and effort
• o efficient management of Risks and Lessons Learnt

A global specialty

pharmaceutical company

• Single Source of Truth for the data
• Proactive Risk Management with Early Notifications for Threshold Breaches
• Improved Lessons Learned Management
• Enhanced Decision-Making
• Increased Operational Efficiency

Success Stories (4/4) Overview

Enhancing D365 CE Implementation with "Co-Pilot" and "Live Chat" enabled CRM Solution

Client	Industry Insurance	Locations: Serving 1.9 M customers from 9 offices	US based health insurance company
The Pressure Points		Solutions	Results
•		•	•
Delay in finding relevant		Utilize advanced solutions of AI	Reduced Call Handling Time
information about policy		& automation from D365 in	•
and product.		o	Improve Agent and Member
•		Case Creation and User	experience
Longer turn around time		Experience	•
for resolving cases.		Customizable Alert Tool	Speed with out affecting cost or
•		o	quality
Not using the best in-class		Member Summary Landing	•
solution.		o	Ease of training
•		Page for Advisors	•
Inconsistency in quality of		o	Change Management
responses		AI Interpretation of Benefits	•
•		o	Ease of support
Limited Real-Time Access		Chat Integration with	•
with end user.		MyChart	Enhanced customer satisfaction

Key Milestone

People – Our Key Strength

23 © Sonata Software Ltd., 2025. Confidential.

FINANCIAL HIGHLIGHTS

International IT services revenue grew by 1% in CC coupled with EBITDA (before Fx and OI) expansion of 70bps QoQ. Consolidated PAT of INR 120.2 crs grew by 10% QoQ.

INR Crs.

Consolidated			International Services			Domestic Business
P&L	Q2'26	Q1'26	QoQ	Q2'26	Q1'26	QoQ	Q2'26	Q1'26	QoQ
Revenue in \$mn.	242.8	346.5	-	82.0	81.8	0.2%	159.4	265.8	-40.0%
Revenue in INR crs.	2119.3	2965.2	-	730.3	699.9	4.3%	1391.3	2274.7	-38.8%
GC - Products	-	-	-	-	-	-	68.7	68.5	0.3%
EBITDA before fx & OI	172.7	159.6	8.2%	126.3	115.9	9.0%	46.5	44.0	5.7%
EBITDA before fx & OI %	8.1%	5.4%	2.8%	17.3%	16.6%	0.7%	3.3%	1.9%	1.4%
EBITDA after fx & OI	204.1	183.8	11.0%	146.1	131.0	11.6%	58.9	54.0	9.1%
EBITDA after fx & OI %	9.6%	6.2%	3.4%	19.9%	18.4%	1.5%	4.2%	2.4%	1.9%
PAT	120.2	109.3	10.0%	78.0	70.7	10.3%	42.2	38.6	9.3%
PAT %	5.7%	3.7%	2.0%	10.6%	9.9%	0.7%	3.0%	1.7%	1.3%
Revenue Mix onsite offshore	-	-	-	43:57	47:53	-			-
EPS Per Share	4.33	3.94	9.9%

Financial Performance of International Services – Q2FY26

International Services: Revenue Insights

New Customers added

Client Contribution to Revenue

Revenue by Geography

International Services: Operating Parameters

Headcount by Function

International Services: Q2'26 Revenue Composition

29 © Sonata Software Ltd., 2025. Confidential.

Domestic Business: Financial Performance Q2 FY26

Domestic Business: Additional Insight Q2 FY26

Annexure

Details of Finance Cost, Depreciation and Other Income

Break up of Finance cost

Particulars	Q2'26	Q1'26
Interest on Acquisition loan	9.9	10.9
Unwinding Interest on deferred consideration	-	-10.0
Other Finance Cost	3.0	2.9
International Services-Total	12.9	3.8
Domestic Business-Total	1.3	1.3
Total	14.2	5.1

Break up of Depreciation in P&L

Particulars	Q2'26	Q1'26
Depreciation of Fixed Assets and right of use assets	13.7	14.0
Amortisation of Intangibles	11.7	11.2
Amortisation of Intangibles - Quant	9.5	9.1
Earlier acquisitions (Encore, GBW, Sopris & Scalable)	2.2	2.1
International Services -Total	25.4	25.2
Domestic Business-Total	0.9	0.9
Total	26.3	26.1

Other Income & Fx

Particulars	Q2'26	Q1'26
International services	20.0	15.1
Domestic Business	12.4	10.0
Total	32.4	25.1

THANK YOU

www.sonata-software.com