#1<epam> Investor Presentation February 2023#2Safe Harbor Statement These materials contain forward-looking statements. You should not place undue reliance on these statements because they are subject to numerous uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements include information concerning the Company's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Those known and unknown risks, uncertainties and assumptions may relate to, among other things, developments relating the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital and foreign exchange markets, and the broader economy, including those caused by COVID-19, and the effect that they may have on our revenues, operations, access to capital, profitability and customer demand. Additional risks and uncertainties include but are not limited to the world economy; our expected financial performance; and macroeconomic and market conditions and volatility. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in more detail in the Company's filings with the Securities and Exchange Commission. These risks could cause actual results to differ materially from those implied by forward-looking statements. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect the Company. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws. <epam> 2#3Table of Contents 01 Who We Are 02 The EPAM Story 03 Our Positioning <epam> 04 Market Trends 05 Who We Serve 06 How We Do It 4 7 10 12 14 16 07 Corporate Responsibility & Recognitions 20 08 Investment Highlights 25 3#41. Who We Are <epam> 4#5About EPAM We are consultants, designers, engineers, architects and trainers who enable our customers to be competitive and disruptive in the marketplace through innovative technology solutions, while helping them to successfully navigate through multiple waves of technology and social change. We help our customers be more competitive by delivering solutions through best-in-class engineering combined with strategy, design, consulting and innovation services. We adopt a global growth strategy, thinking and acting like a start-up, working in multidisciplinary teams and delivering results. Relentlessly. <epam> 5#6EPAM Fast Facts - Q4 2022 FOUNDED IN 1993 U.S. HEADQUARTERED PUBLIC COMPANY Q4 REVENUES 2022 REVENUES $1.231B $4.825B (NYSE:EPAM) GAAP Diluted EPS of $2.61, 8.7% YoY 59,250+ EPAMers Travel & Consumer $270M 16.0% ↑ REVENUE GROWTH 5 Year Revenue CAGR of 27% (2017-2022) Non-GAAP Diluted EPS of $2.93, 6.2% YoY 52,850+ Engineers, Designers & Consultants REVENUES BY INDUSTRY VERTICAL Life Sciences & Healthcare $125M 11.5% ↑ (Reported $ & YoY Growth) Financial Services* $261M 2.4% ↑ Business Information & Media AMERICAS $209M 10.9% ↑ $732M 14.7% ↑ 50+ Countries & Regions REVENUES BY GEOGRAPHY (Reported $ & YoY Growth) O EMEA $455M 18.0% ↑ APAC $29M flat CEE* $15M -71.8% Emerging $163M 20.8% ↑ Software & Hi-tech $203M 10.3% ↑ <epam> *Growth rate adversely impacted by the Company's decision to exit its Russian operations. Figures are as of Q4 2022 unless otherwise noted. Refer to EPAM's 4th quarter and full year 2022 earnings release for additional information and reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS. 6#72. The EPAM Story <epam> 7#8Growing, Global Presence in more than 50 Countries & Regions¹ Belgium France Germany Ireland <epam> Footnote References on Page 29 Canada United States | Mexico Italy Malta Armenia Netherlands Georgia Portugal Spain Sweden Switzerland United Kingdom Kazakhstan Kyrgyzstan Uzbekistan China Hong Kong SAR Japan | United Arab Emirates Argentina Brazil Chile Colombia Dominican Republic South Africa Israel Lebanon Türkiye Austria Belarus Bulgaria Croatia Czech Republic Hungary Latvia Lithuania Montenegro Poland Romania Serbia Slovakia Ukraine | India Malaysia Singapore Vietnam Australia 8#9The EPAM Advantage - Nearly 30 Years of Software & Digital Platform Expertise 1993 $0 revenues • 3 employees EPAM opens for business with three employees. 1996 EPAM is chosen to help Colgate-Palmolive develop a Salesforce Automation solution. Its success opens the door to EPAM's first major software product development client: SAP AG. 2003 EPAM completes its first decade having built a foundation of delivering Software Products and Solutions for more than 200 independent software companies. 2004 EPAM enters the European market, beginning a multi-year journey of geographic and industry diversification. 2009 $150M revenues 4,400 employees In the midst of a historic global recession, EPAM focuses on investing in talent and tools, which will serve as the platform to support the company's future growth. IPO 2012 $434M revenues • 10,000 employees EPAM approaches the end of its second decade serving most of the world's major new platform companies who were changing everything from search to transportation to collaboration. 2016 EPAM extends its leadership position into Digital Product & Platform Engineering Services space², and is named one of the top 25 Fastest Growing Public Tech Companies by Forbes. 2019 The Company launches EPAM Continuum, the company's vision for integrated Consulting and Engineering services. Within EPAM's top 100 clients, 20% are in the Fortune 500 and more than 50% are in the Forbes Global 2000. 2021 EPAM records its first billion-dollar revenue quarter and is now located in more than 40 countries and regions. The Company is included in the Forbes Global 2000 list and added to the S&P 500. 2022 $4.82B revenues • 59,250 employees As part of EPAM's response to the war in Ukraine, the Company announced $100 million of humanitarian support for its Ukrainian employees and their families. EPAM also announced its phased exit from Russia, while at the same time accelerated its global diversification efforts and is now in more than 50 countries. <epam> Footnote References on Page 29 9#103. Our Positioning <epam> 10 110#11The Enterprise IT Services Market - a $1.8 Trillion+ Total Addressable Market for 2026³ EPAM is Positioned in the Most Dynamic Subset of the Consult and Build Services Market, which now Includes Expanded Coverage in Cloud, Consulting and Security "BUILD" Consulting Application Implementation & Managed Services $401B $347B $71B Infrastructure as a Service (IaaS) $309B $255B <epam> Footnote References on Page 29 $394B "MAINTAIN" Hardware Support Infrastructure Implementation & Managed Services Business Process Services 11#124. Market Trends <epam> 12#13The Enterprise Landscape is Increasingly More Competitive, Complex and in Need of Change MARKET TECHNOLOGY ENTERPRISE D </> New competitors running on nimble technologies The customer-centric experience Pushing digital capabilities through products and services Mobile devices Smart sensors IoT platforms Big data analytics & advanced algorithms |& = | Multilevel customer interaction & Location-detection technologies Advanced human- machine interfaces Authentication & fraud detection 3D printing customer profiling Augmented reality & wearables Cloud computing Adaptiveness Agile IT » Application modernization Talent transformation <epam> 13#145. Who We Serve <epam> 14#15Who We Serve We serve a diverse and global list of clients across 11 industries, from more than 50 countries. Our clients are some of the world's leading corporations, with 62 of our top 100 clients in the Fortune 500 or Forbes Global 2000. Here are just a few examples of our recent success stories: DAIMLER Our Digital Learning program was recognized with a 2020 Daimler Supplier Award in Innovation. LIBERTY GLOBAL Helped Liberty Global deliver a personalized viewing experience to their consumers by implementing Agile methodologies via set-top box and mobile app. Wolters Kluwer Enabled Wolters Kluwer to deliver a better risk management and compliance experience for its healthcare practice through a platform that retrieves and organizes actionable data. EPIC GAMES Through its big data, platform engineering and cloud expertise, we collaborated with Epic Games to provide the flexibility, reliability and scalability needed to continue to push the boundaries of online gaming. ESTEE LAUDER COMPANIES UBS Received the Banking Technology Award for Best Use of IT Private Banking/Wealth Management with UBS for the development of UBS SmartWealth, a digital wealth management tool. EQUIFAX Built a new cloud foundation for Equifax that will enable them to develop innovative data-driven products and services that help their customers live their financial best. BACARDI. Created an award-winning DevOps Automation Platform for Bacardi to improve brand consistency, accelerate time to market, and deliver operational cost savings. Helped Estée Lauder Companies, a leading beauty company, transform into a leader in the Beauty Tech space. <epam> 15#166. How We Do It <epam> 16#17How We Do It We help our customers thrive in a market challenged by the pressures of digitization. Our diverse, integrated consulting teams apply a Systems Thinking mindset to get to the heart of our clients' increasingly complex business challenges. Our business, experience, technology and data consultants work together to create holistic solutions that achieve meaningful, sustained impact for businesses, their employees and customers. Over the past 30 years, we have helped our customers navigate the waves of digital transformation, building solutions that help them level the playing field and stay competitive through constant market disruption. CONSULT + DESIGN ENGINEER зд OPERATE OPTIMIZE We harness the power of our integrated consulting talent, alongside our data expertise, to work out where we can provide value and address clients' unique needs. Our talented designers bring clients' ideas to life. They know how to humanize technology and business to create meaningful, multimodal digital experiences. We make technology transformation happen. Clients get omni-channel software platforms architected for the future and built to scale. We deploy commercial software product practices to deliver next-generation, integrated and smart-run services. We turn process optimization into platforms for innovation through data- driven decisions, using a product-centric approach. <epam> 17#18EPAM CONTINUUM The integrated business, experience and technology consulting service brand of EPAM Systems, applies a Systems Thinking mindset to help solve our clients' most complex problems, develop their agility to adapt, and empower them to compete.#19EPAM Continuum - We believe the right solutions are the ones that improve people's lives and fuel competitive advantage. We don't just create blueprints, operating models and business plans - lives in code, products and in market. We make it real. We Help Clients Set The Right Direction Multidisciplinary teams in EPAM Continuum look at problems through specialty lenses - working with clients to frame the right problems to solve. our thinking Then We Deliver At Speed And Scale We then support agile and iterative development teams within EPAM - ensuring ongoing improvements and enhancements along a multi-phase roadmap. <epam> Opportunity Identification Solution Definition Prototype Testing MVP BETA Scale & Operate 1993#207. Corporate Responsibility & Recognitions <epam> 20 20#21Our approach to corporate responsibility is guided by three principles: 1 2 3 Operate Ethically Protect the Environment Support Our Global & Local Communities We embody these principles by sharing our creative talents and innovations with the world around us. Our employees are empowered to create a global network of impact, powered by local connections. <epam> 22 21#22At EPAM, we are committed to having a positive impact on our customers, our employees and our communities • Environmental • Climate Change Environmental Opportunities Social Human Capital Development Health & Safety • Labor Management Diversity & Inclusion • Community Engagement Data Privacy & Security E + Governance • Corporate Governance • Policies & Standards S ESG + G 222#23We Stand With Ukraine $100M Commitment As part of our corporate response to the war, on March 4, 2022, we announced our support of Ukraine with a $100 million humanitarian assistance commitment to aid EPAM Employees and their families in Ukraine. Additionally, we contributed to the Red Cross, ASAP Rescue, Lviv IT Cluster, Kran Foundation & Krona Fountain - giving shelter to other IT company employees and their families. People First We are putting our people and their families first. With assistance from EU governments, EPAM established a network of tens of thousands of volunteers and regional support teams across Europe & EPAM global. EPAM is providing humanitarian relief including transportation, accommodation, supplies and financial assistance to EPAMers and their families as well as relocations and resettlements. EPAM Ukraine Assistance Fund As part of our ongoing humanitarian efforts in Ukraine, on April 11, 2022, we launched the EPAM Ukraine Assistance Fund. This fund is separate from and in addition to the $100 million humanitarian commitment that we announced on March 4, 2022, and to our previously established relief programs, donations, and the work of our volunteers on the ground. #StandWithUkraine 23#24Industry-Leading Recognitions glassdoor BEST PLACES TO WORK 2023 Ranked the Top 100 Best Place to Work (2023) Ad Age Listed among the Top 25 World's Largest Agency Companies by Ad Age (2020-2022) Newsweek America's Most Loved Workplaces AUTOMATTI Hilton BONGE Ansys WATCH DELL Ansys FIRST thry _zapier Schrödinger ZipRe LendingClub 02 ARVEST jack henry ally Hellogg's BARK HORIZON Gympass SVP STRA avanade ASAP Named a Top 100 Most Loved Workplace by Newsweek (2021-2022) 2022 FASTEST GROWING FIRMS FORTUNE 1000 BARRON'S Most Sustainable Companies 2022 <epam> EPAM Continuum recognized by Consulting Magazine as a Fastest Growing Firm (2020-2022) Ranked a Top 15 IT Services Companies on the Fortune 1000 Named a 2022 Barron's 100 Most Sustainable Company 24#258. Investment Highlights <epam> 25 25#26A History of Strong & Consistent Financial Performance Strong Revenue Growth ($B) $5.0 CAGR 3 Year - 28% $4.0 5 Year $3.0 $2.0 27% Stable Non-GAAP Operating Margins 19% $11.0 18% 17% 16% 15% Strong Non-GAAP Diluted EPS Growth5 CAGR $9.0 3 Year - 26% 5 Year - 26% $7.0 $5.0 $3.0 $1.0 14% 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2017 2018 2019 2020 2021 2022 2021 2022 $1.8 Cash Balance ($B) $1.5 $1.2 $0.9 $0.6 Total Shareholder Return 16% 25% 9% 96 8% 7% $0.3 2017 2018 2019 2020 2021 2022 3 Year CAGR 5 Year CAGR <epam> Footnote References on Page 29 250% 200% EPAM 150% S&P 500 Russel 1000 100% 9% 50% Cumulative Total Return? 0% 2020 2021 2022 EPAM S&P 500 Russel 1000 26#27Investment Highlights 01 MARKET POSITIONING 02 STRONG REVENUE GROWTH & VISIBILITY 03 STABLE PROFITABILITY 04 STRONG CASH FLOW & BALANCE SHEET Well positioned in a large $700B+ market 62 of EPAM's top 100 clients are in the Fortune 500 or Forbes Global 2000 Diversified client portfolio across 11 key industries Loyal client base with an average of 10 years among our top 20 clients Industry leading 3- and 5-Year revenue CAGR of 28% and 27%, respectively 80% revenue visibility throughout the full year 95% recurring revenues from clients greater than one year Over 85% of revenues are time & material Stable operating margins supporting superior earnings growth Proven ability to grow and sustain strong profitability with 3- and 5-Year Non-GAAP Diluted EPS CAGR of 26% for both periods Consistent levels of profitability allowing for continuous investment to support top-line growth $464M of cash flow from operations for the last 12 months8 $1.7B cash balance with nominal debt8 Capital allocation strategy focused on acquisitions to enhance or add capabilities, in addition, share repurchases to offset dilution from employee equity programs $675M line of credit available in U.S.8 <epam> Footnote References on Page 29 27 27#28Thank you <epam>#29Footnotes 1. As of January 2023 2. Forrester WaveTM: Digital Platform Engineering Services, Q2 2016 3. Gartner Forecast: IT Services, Worldwide, 2020-2026, Q1 2022 4. Non-GAAP Operating Margin excludes stock-based compensation expenses, acquisition-related costs including amortization of intangible assets, impairment of assets, expenses associated with EPAM's humanitarian commitment to its professionals in Ukraine, unbilled business continuity resources resulting from Russia's invasion of Ukraine, costs associated with the geographic repositioning efforts in Russia and Belarus, employee separation costs in Russia, and certain other one-time charges and benefits 5. Non-GAAP Diluted EPS excludes stock-based compensation expenses, acquisition-related costs including amortization of intangible assets, impairment of assets, expenses associated with EPAM's humanitarian commitment to its professionals in Ukraine, unbilled business continuity resources resulting from Russia's invasion of Ukraine, costs associated with the geographic repositioning efforts in Russia and Belarus, employee separation costs in Russia, certain other one-time charges and benefits, changes in fair value of contingent consideration, foreign exchange gains and losses, excess tax benefits related to stock-based compensation, and the related effect on income taxes of the pre-tax adjustments 6. Total Shareholder Return CAGRs are based on performance through 2022 7. Cumulative Total Return assumes that on December 31, 2019, equal amounts were invested in EPAM and both indices 8. As of December 2022 <epam> 29 29