TANLA PLATFORMS LIMITED — Investor Presentation 2022

May 7, 2022

Tanla Platforms Limited T: +91-40-40099999 (Formerly known as Tanla Solutions Limited) info@tanla.com Tanla Technology Center www.tanla.com Hi-tech city Road, Madhapur, Hyderabad, India - 500081 CIN: L72200TG1995PLC021262

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May 7, 2022

To,

	BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 ScripCode:532790	National Stock Exchange of India Ltd. “Exchange Plaza” Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Symbol:TANLA

Dear Madam/Sir,

Sub: Updated Investor Update for the quarter and year ended March 31, 2022

As requested by the investors have included an additional slide (#39), with volumes on Trubloq. The Investor Update with this slide included is attached herewith and uploaded on https://www.tanla.com/media/images/Investor/fy2022/Tanla_Investor_Update_Q4_FY22.pdf.

Yours faithfully,

For Tanla Platforms Limited

(Formerly known as Tanla Solutions Limited)

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Seshanuradha Chava General Counsel and Chief Regulatory Officer ACS-15519

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FY-2022 Investor Update

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Disclaimer

The CPaaS business is evolving at a fast pace in India with very little information available in the public domain on the overall market. The financial community has always sought a response on the total market size, key drivers of the industry and the competitive landscape in this space. In order to provide more transparency and to help understand our business better, we are providing indicative data around the market size and our relative share (assuming the indicative data). This indicative data has been arrived at basis our detailed internal analysis. This is being done with an intent to provide an indicative picture of the industry and address queries about the CPaaS space. This must not be seen as a positioning statement of the company, and one should not rely on the company’s disclosure for their assessment of the market size.

This presentation contains statements that include information concerning our possible or assumed strategy, future operations, financing plans, operating model, financial position, future revenues, projected costs, competitive position, industry environment, potential growth opportunities, potential market opportunities, plans and objectives of management, as well as assumptions relating to the foregoing that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking in nature. Such statements are inherently subject to ‐ risks and uncertainties, some of which cannot be predicted or quantified. In some cases, although not all forward looking statements contain these identifying words, you can identify forward-looking statements by terminology such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “plan,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar expressions. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. It is advisable not to place excessive reliance on any of the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Additionally, these forward-looking statements, involve risk, uncertainties and assumptions based on information available to us as of 28/04/22, including those related to the continued impacts of COVID-19 on our business, future financial performance and global economic conditions. Many of these assumptions relate to matters that are beyond our control and changing rapidly, including, but not limited to, the timeframes for and severity of social distancing and other mitigation requirements, the timing of headwinds from COVID-19, the availability of vaccinations, the continued impact of COVID-19 on new or existing customers, business decisions and the length of our sales cycles, renewal timing or billings terms, particularly for customers in certain industries highly affected by COVID-19.

If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations, except as required by law.

This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information wherever possible, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to place excessive weightage to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information, wherever referred. Certain statements that might or might not be forward-looking statements represent our management’s beliefs and assumptions only as of the date of this presentation. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation.

By receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business. Any logos or trademarks other than Tanla, Karix, Gamooga, Trubloq & Wisely included herein are the property of the owners thereof and are used for reference purposes only.

2

State of the business: leading innovation, growth and value creation

High Growth Best in Class margins and Accelerated Innovation free cash flow profile in 6 years from FY2017-22

CPaaS Market leader in India

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3 patents awarded Exclusive multiyear partnership with VIL Exclusive partnership with True caller

6x 12x Revenues EBITDA 13x 1369 PAT Gross Margin % Basis points increase

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800B Interactions/year

42% Revenue market share

Co-sell partnership with Microsoft

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63% DLT volume market share

World’s first block chain enabled CPaaS stack

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1216 976 EBITDA % PAT % Basis points Basis points increase increase

Trusted by over 50,000 enterprises

Won in the Enterprise Communication category

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Enterprise segment market leader

Choice of leaders Enterprise segment across industry market leader 30%+ 9/10 Market share in Banking; E- India commerce

8/10 192 Financial >10Mn+ services & IT Customers 7/10 60%+ Healthcare, of total revenues FMCG & Social contributed by 50 Media of our top 100 customers, Powering digital communications for the world’s retained for more largest vaccination drive for covid-19 on CoWin platform though NIC & NHP, India with recordthan 5 years breaking performance of 30,000 TPS

Listed in Indices:

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Global HR Excellence Award 2022

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Featured in Next top 100 companies in India

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Recognized in the 2021 Gartner CPaaS Competitive Landscape

3

21-22 Investor Update

Product

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Processed critical transactions for leading banks in India

Launched early access program for WiselyTruecaller Business messaging with signups across leading retail, BFSI and ecommerce enterprises

Vodafone Idea (Vi) is now live on Wisely Network to enhance performance for the entire international messaging traffic.

New Features

All functionality required to process any international traffic to India over Wisely is now developed and Live.

Campaign Manager Application to help enterprises seamlessly process large campaigns effortlessly developed.

4

21-22 Investor Update

Product

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32bn transactions processed in March 2022 Daily average of 1.06 bn

63% volume market share

Impact of Trubloq

44% decrease in SPAM complaints

6858 entities, 23161 headers and 104473 content templates have been rejected so far providing safe and efficient communication

5

21-22 Investor Update

Experience breakthroughs in every industry

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Increase in 21% App downloads and 29% Click- Through Rate

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2.5x response rate in customer engagement

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2x increase in customer engagement Improved App adoption by 30% in 2 months

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6

21-22 results [year-over-year growth & margins]

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Revenue Growth Gross profit growth EBITDA Growth
37% 57% 62%
28% Margin 22% Margin
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Free Cash Flow
₹ 4,248 Mn
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PAT Growth Earnings Per Share
51% 39.77
17% Margin 57% Growth
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Operating Cash Flow
₹ 4,864 Mn
90% of PAT
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7

Q4 results [year-over-year growth & margins]

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Revenue Growth Gross profit growth EBITDA Growth
32% 38% 37%
29% Margin 22% Margin
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Free Cash Flow
Mn
₹ 444
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PAT Growth Earnings Per Share
37% 10.36
17% Margin 37% Growth
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Operating Cash Flow
Mn
₹ 716
51% of PAT
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8

21-22 Investor Update

192

Robust growth across customer segments

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20-21 21-22
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Growth year-over- year for > ₹10Mn+ customers

No of customer

Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22

28%

29% 19%

16%

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₹500Mn+ customers at 17, grew by 42% ₹100Mn-₹500Mn customers at 36, grew by 13% ₹10Mnr-₹100Mn customers at 139, grew by 32%

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Customer segments for the quarter are arrived at on a quarterly annualized basis

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139 149
105
36
32
17
12
>₹10Mn-<₹100Mn >₹100Mn-<₹500Mn >₹500Mn All three
segments
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9

21-22 Investor Update

Increased wallet share across customer segments

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20-21 21-22
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Growth year-over- year for > ₹10Mn+ customers

(₹ Million)

Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22 42% 46% 36% 32%

₹500Mn+ customers grew by 51%

₹100Mn-₹500Mn customers grew by 21% ₹10Mn- ₹100Mn customers grew by 36%

₹10Mn+ customers grew by 39%

Customer segments for the quarter are arrived at on a quarterly annualized basis

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31,038
22,287
17,906
11,879
8,510
7,018
4,621
3,390
>₹10Mn-<₹100Mn >₹100Mn-<₹500Mn >₹500Mn All three
segments
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10

21-22 Investor Update

Strong new customer additions

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New customer additions
20-21 21-22
259 270
Revenue from new
customers at ₹1,010 Mn
New customers include every unique contracting entity added during the year
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(₹ Million)
1,010
950
20-21 21-22
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11

21-22 Investor Update

Top 20 Customer concentration going down

Revenue from top twenty customers

(₹ Million)

20-21 21-22

14,784

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19,401

Revenue from our top 20 customer grew by 31%

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63%
61%
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20-21 21-22

Top 20 customers concentration

12

21-22 Investor Update

Lasting relationships driving growth over long periods

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16-17
17-18 CAGR
18-19 22%
19-20
20-21
142%
99%
118%
149%
16-17 17-18 18-19 19-20 20-21 21-22
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Note: Represents revenue from our active customers grouped by cohorts based on the year when each customer account cohort originated Cohorts of 16-17 also includes customers acquired during prior period

Customer data complied also includes customers of Karix and Gamooga from pre acquisition period

13

21-22 Investor Update

Operating significantly above Rule of 40

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Revenue growth EBITDA margin %

Rule of 40

20-21 21-22 40% 59%

37%

22%

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SaaS companies target to operate at Rule of 40 (revenue growth + EBITDA%)

21%

19%

20-21

21-22

14

21-22 Investor Update

Revenue milestone of ₹ 3000 Crore

Growth year-over- year (₹ Million) Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22 38% 44% 35% 32% Revenue growth led by increased volumes, price change, Trubloq and growth in OTT channels Growth driven by BFSI, Retail & Government

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32,060
23,415
20-21 21-22
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15

21-22 Investor Update

Focus on platforms and products drive gross profit

Growth year-over-year (₹ Million) Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22 65% 71% 62% 38% Gross profit growth of 57% Gross margin at 28%, improved by 365 bps Platform business gross margin contribution to total at 26% Enterprise business gross margin contribution to total at 74%

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9,080
5,777
20-21 21-22
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16

21-22 Investor Update

Gross margins

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29%
29%
28%
27% 27%
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Q4 20-21 Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22

17

21-22 Investor Update

Gross margins mix

Platform business GM contribution Enterprise business GM contribution 31% 27% 25% 25% 23% 77% 75% 75% 69% 73% Q4 20-21 Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22

18

21-22 Investor Update

Improving efficiency metrices

Gross profit to EBITDA conversion

Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22 78% 78% 78% 76%

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Gross profit to EBITDA conversion at 77%

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Salary cost at 14% of gross profit in 21-22, as against 15% in 20-21

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Other indirect cost at 9% of gross profit in 21-22, as against 10% in 20-21

77% 75% 20-21 21-22 Gross profit to EBITDA conversion

19

21-22 Investor Update

Strong EBITDA growth

Growth year-over-year

Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22

79% 83% 60% 37%

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EBITDA margin at 22% , improved by 333 basis points

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₹ Salary cost increased by ₹409 Mn
₹
₹
driven by new hires and salary
increments
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Other expenses remain constant as % of revenue

(₹ Million)

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7,001
4,334
20-21 21-22
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20

21-22 Investor Update

Improving EBIT while investing in growth

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Growth year-over-year (₹ Million)
Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22
6,593
97% 92% 62% 39%
3,939
EBIT grew by 67%
EBIT margin at 21% , improved by 374
basis points
Investments in Platforms resulting in
higher depreciation of ₹13 Mn
20-21 21-22
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21

21-22 Investor Update

Best-in-class Free cash flow profile

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Free Cash Flow as % of PAT (₹ Million)
20-21 21-22
5,293
149% 79%
4,248
Lower cash flow due to
investments in Platforms
and increase in tax
payouts
20-21 21-22
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22

21-22 Investor Update

Cash utilization towards return to shareholders

(₹ Million)

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11
4,864 107 (32) (135) (617)
(819)
9,222
5,841
Opening Operating Interest & Issue of Lease Dividend Capital Buyback Closing
CCE cash flow other shares liabilities - paid expenditure CCE
income net
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CCE - cash and cash equivalents CCE - Includes bank deposits with more than twelve months maturity

23

21-22 Investor Update

Cash & cash equivalents

CCE

(₹ Million)

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20-21 21-22
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5,221

20-21 21-22

5,841

9,222

3,208

2,786

Restricted cash balance decreased due to revision in cash credit limits across various banks

2,139

597 470 446 196 Restricted Current Current Fixed cash account - INR account - USD deposits

CCE - cash and cash equivalents CCE - Includes bank deposits with more than twelve months maturity

24

21-22 Investor Update

Cash & cash equivalents break up

In Millions, unless	Current	Current accounts-
otherwise stated	accounts-INR	USD	Fixed Deposits	Restricted cash	Total
	478	142	2,688	136	3,444
	-	-	1,600	-	1,600
	-	-	200	-	200
	13	-	133	-	146
	39	-	361	-	400
	54	-	89	-	143
	-	749	-	-	749
	-	2,317	-	27	234
	13	-	150	-	163
Others	-	-	-	33	33
Total	597	3,208	5,221	196	9,222

CCE - cash and cash equivalents

CCE - Includes bank deposits with more than twelve months maturity

25

21-22 Investor Update

Profit after tax

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Growth year-over-year
Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22
33% 67% 69% 37%
Profit after tax after grew by 51%
Profit after tax margin at 17%,
improved by 162 basis points
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(₹ Million)

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5,393
3,561
20-21 21-22
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26

21-22 Investor Update

Earnings per share

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Growth year-over-year (₹)
Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22
49% 72% 70% 37%
EPS grew by 57%
EPS growth driven by combination of
₹ PAT growth and lower equity shares to
buyback
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39.77
25.27
20-21 21-22
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27

21-22 Investor Update

ROCE at 141% excluding cash

ROCE

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ROCE ROCE
Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22
(excluding CCE) (excluding CCE)
50% 31% 51% 47%
141% 47%
Reflects asset lite model
129% 46%
20-21 21-22 20-21 21-22
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ROCE- Return on capital employed CCE- Cash & cash equivalents

*CCE-Includes fixed deposit balances with maturity greaten than one year

28

Track record of consistent dividend payouts

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200% 200%
35%
30%
25%
20%
0%
15-16 16-17 17-18 18-19 19-20 20-21 21-22
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Dividend rate % is on face value of equity share

*Final dividend of 200% has been recommended by board for 21-22 subject to shareholders approval

29

Strong balance sheet

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₹ 13,540 Mn Strong Equity and Reserves

₹ 9,222 Mn

Robust build up of cash & cash equivalents

141% ROCE (excluding cash & cash equivalents)

Debt free

30

ESG achievements in Q4 21-22

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Environmental

Steps towards creating a greener and cleaner tomorrow

Towards Net-zero

Tie up with plantation implementation partners – Green Water Sky and Enking International

Working towards Platinum LEED certification in Tanla Innovation & Experience Centre

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Social

Giving back to the society and developing our employees

For the community

Skill trained 108 youth and placed 83 in jobs like Data Entry and Sales with an average monthly salary of INR 11,800/Conducted a Sports Day & Cultural Festival in ZPHS Gangaram to encourage all round development of students.

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Governance

Integrating ESG in our business and formally committing to ESG principles

Transparency & Good Governance

STEPIn Charter for D&I implementation and Mentorship Program Policy for the program announced on March 8 IWD

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31

Appendix

32

21-22 Investor Update

Profit & Loss account: Fourth Quarter & 21-22

In Millions, unless otherwise stated	Q4 21-22	Q4 20-21	∆ %	21-22	20-21	∆ %
Revenue from operations	8,531	6,486	32	32,060	23,415	37
Cost of services	(6,097)	(4,717)	29	(22,980)	(17,638)	30
Gross profit	2,434	1,769	38	9,080	5,777	57
Operating expenses	(593)	(429)	38	(2,079)	(1,443)	44
EBITDA	1,841	1,340	37	7,001	4,334	62
Depreciation & amortization	(102)	(92)	10	(408)	(396)	3
EBIT	1,739	1,248	39	6,593	3,939	67
Finance cost	(3)	(1)	-	(13)	(10)	-
Other income	46	15	199	161	219	(26)
Profit before taxes	1,782	1,262	41	6,741	4,147	63
Tax expense (including deferred tax)	(376)	(237)	59	(1,348)	(586)	130
Profit after tax	1,406	1,025	37	5,393	3,561	51
Earning per share	10.36	7.54	37	39.77	25.27	57

33

21-22 Investor Update

Balance sheet- March 31,2022

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In Millions, unless otherwise March 31, March 31,
stated 2022 2021
ASSETS
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	In crores, unless otherwise	March 31,	March 31,
	stated	2022	2021
	EQUITY AND LIABILITIES
	Equity share capital	136	136
	Other equity	13,404	8,795
	Total equity Financial liabilities	13,540	8,931
	Lease liabilities	447	35
	Other financial liabilities	4	5
	Provisions	70	60
	Other non-current liabilities	5	3
	Total Non-Current Liabilities	526	103
	Current liabilities
	Trade payables	6,785	5,062
	Lease liabilities	89	9
	Other financial liabilities	2,443	1,919
	Other current liabilities	272	76
	Short term provisions	11	9
	Liabilities for current tax (net)	280	17
	Total Current liabilities	9,880	7,092
	TOTAL EQUITY AND LIABILITIES	23,946	16,126

39 36 36 64 - 39

Non-current assets
Property,plant and equipment	429	297
Platforms	484	395
Customer Relationships	257	382
Brands	4	39
Technology	13	36
Non Compete	30	36
Intangible assets underdevelopment	402	64
Goodwill	1,346	1,346
Capital work inprogress	134	-
Right-of-use-lease assets	484	39
Financial assets	711	106
Deferred tax assets(net)	396	428
Other non-current assets	439	297
Total non current assets	5,129	3,465
Trade receivables	5,603	3,731
Cash and bank balances	8,623	5,841
Other Financial assets	3,951	2,565
Other current assets	641	524
Total current assets	18,817	12,661
TOTAL ASSETS	23,946	16,126

34

Condensed Cash flow

		21-22 20-21 In Millions, unless otherwise stated 7,249 4,381 Cash flow before changes in working capital (1,220) 1,790 Changes in working capital 6,029 6,171 Cash generated from operations (1,165) (561) Taxes 4,864 5,610 Cash flow from operating activities (616) (319) Net investments in tangible and intangible assets 107 220 Interest and other income (600) - Movement in other bank balances (1,109) (99) Cash flow from investing activities 11 184 Issue of Shares (818) (1,661) Buyback of shares (135) (136) Dividend paid (32) (63) Interest paid on lease liabilities (975) (1,676) Cash flow from investing activities 2,780 3,835 Cash flow for the period 5,841 2,006 Cash and cash equivalents at the beginning of period Cash and cash equivalents 8,622 5,841 Fixed deposit balances with maturity greaten than one year 600 - 21-22 Investor Update Cash and cash equivalents at the closing period 9,222 5,841

35

21-22 Investor update

Free Cash flow

In Crores, unless otherwise stated	Q4 21-22	Q4 20-21	∆ %	21-22	20-21	∆ %
Operating cash flow	716	142	-50	487	561	-13
Capital expenditure	(272)	(6)	401	62	32	94
Free cash flow	444	136	-70	425	529	-20
Free cash flow in percent of total	5%	21%	-	13%	23%	-
revenue
Operating cash flow as % of PAT	51%	139%	-	90%	158%	-

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21-22 Investor update

Key metrics: 21-22

Gross Profit 28.3% +365bps EBITDA 21.8% +333 bps PAT 16.8% 21-22 +162 bps Gross Profit to +207 bps 77.1% EBITDA conversion ROCE +1734 bps 141% (excluding CCE)

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21-22 Investor update

Key metrics: Fourth Quarter 21-22

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Gross Profit 28.5% +126 bps EBITDA 21.6% +91 bps PAT 16.5% +67 bps Q4 21-22 Gross Profit to -13 bps 75.7% EBITDA conversion ROCE +1734 bps 141% (excluding CCE)

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Trubloq

Q4 21-22 growth in volumes by 31% year-over-year

No of transactions (bn per quarter)

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100.0
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
-
Q4 20-21 Q1 21-22 Q2 21-22 Q3 21-22 Q4 21-22
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Number of transactions includes all the volumes processed across telcos on Trubloq

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