Tech Mahindra — Capital/Financing Update 2021

Aug 27, 2021

Tech Mahindra

27 August, 2021

To Phiroze Jeejecbhoy Towers, Exchange Plaza, 5" floor, Dalal Street, Plot No. — C/1, G Block, Scrip Code : 532755 MUMBAI - 400 051

BSE Limited National Stock Exchange of India Limited MUMBAI — 400 001 Bandra-Kurla Complex, Bandra (E) NSE Symbol : TECHM

Sub: Approval of proposal for acquisition of 100% stake in AustinGiS

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Company's wholly owned subsidiary viz., Tech Mahindra (Americas) Inc., approved the proposal to acquire 13.8% equity shares in AustinGiS Inc. on 26"" August, 2021.

In this regard, please find enclosed herewith, Disclosure containing the details pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9° September, 2015 as 'Annexure I'. ;

This is for your information and record.

Please acknowledge receipt of the same.

Thanking you,

For Tech Mahindra Limited

Xd in Ani chatri Company Secretary

Encl.: As stated above

Tech Mahindra

Annexure I

Annexure I
Sr.	Items for Disclosure	Description
No.1	Name of the target entity, details in briefsuch as size, turnover etc.;	AustinGiS, an 5G services and IoT aaS providerincorporated in 2021, with a projected revenueof USD 28 million in CY2021.
	Whetherwouldacquisitionthefallwithinparty transaction(s) andrelatedwhether the promoter/ promoter group/companiesgrouphaveanyinterestinthe entity being acquired? If yes, naturethereofandandofinterestdetailswhethersame"armsdonetheisat	No
	length";whichIndustrybeingentitythetoacquired belongs;	IT Services (5G/IoT)
	Objectsacquisitionandeffectsof(including but not limited to, disclosurereasonsacquisitionoftargetofforentity, if its business is outside the mainline of business of thelisted entity);	MahindrainvestmentTechThehelpwilldevelop new offerings in its loT/SG capabilitiesby opening up a strong ecosystem of partnerswith specialization in SG/loT technology.
	governmentalBrief detailsof anyorapprovalsregulatoryrequiredfortheacquisition;	None
	Indicative time period for completion ofthe acquisition;	Theexpectedtransactionclosebytois15" September, 2021
	Nature of consideration - whether cashconsideration or share swap and detailsof the same;	Cash
	Cost of acquisition or the price at whichthe shares are acquired;	Tech Mahindra will pay total consideration of upto USD 1.25 million.
	shareholdingPercentagecontrolof/numberacquiredandsharesofor/acquired;	13.8%
10	backgroundBriefaboutentitytheacquiredtermsof products/lineofinbusiness acquired, date of incorporation,history of last 3 years turnover, countrywhichacquiredentityhastheinpresencesignificantandanyotherinformation (in brief);	AustinGiSIoT/5Gprovider thatservicesaisspecializes in providing a wholistic IaaS solutionoffering. The entity was incorporated in 2021.newlyincorporatedSinceentity,thisisaprovision of historicalinformationfinancialisnot applicable.

For Tech Mahindra Limited

Co hatri pany Secretary A