#1|| April 2019 INVESTOR PRESENTATION || Infosys Navigate your next Ⓡ#2Safe Harbor "Certain statements mentioned in this release concerning our future growth prospects and our future business expectations are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. including our Annual Report on Form 20-F for the fiscal year ended March 31, 2018. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law. 2 Infosys Navigate your next#33 Incorporated in Pune Key Milestones Gets listed on BSE/NSE Crosses US$100 million in revenue. Gets listed on NASDAQ market cap US$2.3 billion Crosses US$1 billion in revenue Crosses US$2 billion in revenue 1993 1981 2018 2017 1999 2012 2004 2006 2008 Announces 'Navigate your next' strategy Revised Capital allocation policy. Completes US$2 billion share buyback 2016 Crosses US$10 billion in revenue Gets listed on NYSE - market cap US$24.6 billion Net profit crosses US$1 billion Infosys Navigate your next#44 1994 'First' Company to introduce concept of ESOP's in India History of 'Firsts' 1996 'First' Indian Company to voluntarily adopt US and six other countries' GAAP reporting 1999 'First' Indian Company to publish quarterly audited financials 1999 'First' Indian Company to be listed on the NASDAQ stock exchange 2005 'First' Indian Company to comply with SOX 2017 'First' Indian Company to facilitate ADR participation in Indian Share Buyback 2018 'First' Indian Company to sign a Unilateral APA with US IRS Infosys Navigate your next#5$ Key Statistics DIGITAL REVENUE FREE CASH FLOW REVENUE US$11.80 bn/ US$3.68 bn/ Rs.82,675 cr 31.2% of total revenue US$1.91 bn/ Rs. 13,399 cr EMPLOYEES 228.1K with 36.7% women LO 5 As of FY 19 CASH & CASH EQUIVALENTS US$4.44 bn/ Rs. 30,690 cr MARKET CAP US$48 bn/ Rs. 324,448 cr OPERATING PROFIT US$2.70 bn/ Rs. 18,880 cr Infosys Navigate your next#6CO 6 Expanding the Services Footprint ADM, Software Re-engineering IT outsourcing, Systems Integration, Infrastructure Management, Product Lifecycle Management Automation, Renew-New, Innovation, Design Thinking, Artificial Intelligence 1981 1996 2001 2008 2014 2018 Technology Consulting, Technology-enabled BPR, Enterprise Solutions SaaS, Learning, Consulting, Business Process Management People Organization | Infrastructure | Process | Quality Infosys Global Delivery Model 4 pillars of strategy. Agile digital service architecture consisting of Experience, Insight, Innovate, Accelerate and Assure Infosys Navigate your next#77 1 Our strategy is informed by the beliefs of our clients They are witnessing an exponential increase in the adoption of Digital 2 The extent of disruption varies, some are being disrupted, some disrupting 3 Focus has been on re-imagining the experience, been slow to digitize the core 4 Service line boundaries are blurring, looking for integrated solutions. 5 Digital is not just about technologies but driving business outcomes Infosys Navigate your next#88 We are well positioned to help our clients navigate their digital journey Today Your Digital Journey The Future کس Navigate your Next Infosys Navigate your next#99 196961 Expanding client relevance with four pillars Scale Agile Digital Invest in digital capabilities & priority services Energize the Core Infuse Al and automation, leveraging NIA Expand skilling Re-skill talent at scale for us and our clients ↑ +88+> ↓ Drive Localization Hire locally in markets, local delivery & training Infosys Navigate your next#10Our Agile Digital service architecture is comprehensive Digital marketing ΑΙ Advanced Omni-channel Analytics Content Big Data Personalization Cyber security Assure Experience CLIENT DIGITAL JOURNEY Accelerate Insight Innovate Digital product engineering IoT 10 Specialized validation ΑΡΙ Cloud migration RPA & IT Automation Legacy modernization Digital system integration Vertical Platforms The Agile Digital market opportunity estimated to be - $160 Bn to $200 Bn Infosys Navigate your next#1111 We have a large and growing Agile Digital portfolio $3.68 Bn Digital Revenues FY19 31.2% of our total FY19 revenues Digital revenues at 33.8% of total revenues in Q4 FY19 Infosys Navigate your next#1212 We have set a 3-year roadmap to achieve our objectives Stabilize | FY 19 Build Momentum | FY 20 Accelerate | FY 21 Infosys Navigate your next#13|| SCALE AGILE DIGITAL | | Infosys Navigate your next Ⓡ#14Design Accelerator 14 Scale Agile Digital Staying relevant to help our clients navigate their digital journey Assure Experience Insight CLIENT DIGITAL JOURNEY Accelerate Innovate Embrace of Al and Automation across the Organization. Digital Studios Partner Ecosystems Innovation Hubs Infosys Navigate your next#1515 Experience Design-led transformation. From brand to experience. да Design accelerator partnership with a leading design school Strategic design consulting capabilities. New, integrated offerings led by digital experience creation of Refactoring talent Digital Studios Brilliant Basics 4 EMEA studios Wongdoody 2 USA studios APAC and LATAM studios planned Infosys Navigate your next#16FOR A WORLD LEADER IN NETWORKING, HI-TECH PRODUCTS AND SERVICES 16 WHY REINVENT? Create world-class customer experience and drive efficiency across operations Experience Assure Insight Client Digital Journey Accelerate Innovate HOW WE DID IT Converting back office to Elite agents in front office focusing on customer experience and building value to reinvent. customer's operations. WHAT WE ACHIEVED -333 33- -33- Operations Excellence $ • Process Orchestration • Automation at Scale 95% of cases processed through online customer service portal are resolved without human intervention 1.5+million Digitized Cases per year 80% Savings in dollars spent ~50% reduction in Back Office Agents Forecasted Cost 33% Savings from baseline 8Mn "Cost to serve" hours of wait time eliminated Infosys Navigate your next#1717 DO 0100110 10110010 Insight Do 100x more. Do it yourself IP led differentiation: Genome, Hawkeye Bundled solutions with new age partners Campaigns across our client base Emerging Al powered solutions e.g. next gen Chatbots Consulting-led demand generation Launch of new offerings Data scientist capabilities. Refactoring talent Infosys Navigate your next#18FOR A WORLD LEADER IN SPORTS GOODS, FASHION AND LIFESTYLE PRODUCTS WHY REINVENT? Ambition to quadruple their e-commerce revenue in 4 years. They leveraged every consumer touchpoint to create insights which shape experiences that are premium, connected and personalized. 18 Experience Assure Insight Client Digital Journey Accelerate Innovate HOW WE DID IT WHAT WE ACHIEVED >35% Repeat buyer rate MMM TTT 2X market share growth in the • • • Conceptualized "Consumer Genome" by bringing together 5000+ consumer attributes combinations Single consumer view through platform agnostic eCommerce Conceptualize and accelerate implementation of new Digital capabilities across markets including insights, campaigns, CRM and omni-channel commerce largest market 67% NPS improvement <30 mins for segmentation of any marketing campaign using consumer genome concept 80% savings in delivery time 50% savings in shipping cost Infosys Navigate your next#1919 Innovate Bridge the physical and the digital, with software and platforms Unique collaboration for autonomous technology Industry 4.0 Assessment, Future of Production and Infosys Knowledge Platform 00 DO Ecosystem of partners, startups and academia ✓ Co-creation of IP with clients leveraging NIA Re-skilling for technologies of tomorrow Modernizing McCamish platform Infosys Navigate your next#20FOR ONE OF THE FASTEST GROWING MULTI-MODAL LOGISTICS ENTERPRISE WHY DISRUPT? Client wanted to establish a cloud-based, digital freight marketplace that is fully automated, self-learning and dynamic. A platform to provide shippers with real-time visibility and 20 opportunities to realize time and cost savings Experience Assure Insight Client Digital Journey Accelerate Innovate HOW WE DID IT We were engaged right from the concept stage and we jointly defined the strategy that set. stage for this disruption. • • Build scalable, extensible and agile architecture, rolled out across multiple Business Units Capability building through continuous customer and carrier engagement Data science-led actionable insights and BI to accelerate adoption and roll out WHAT WE ACHIEVED -20% improvement in Load Profitability 5 customer acquisitions within 3 months of launch. Created an additional pipeline of revenues that is on-track to contribute to 15% increase in annual revenues 93 days to launch industry disrupting digital marketplace platform for first mile, middle mile and last mile logistics Infosys Navigate your next#212 21 2 Accelerate Keep your Core. Keep Innovating. Campaigns to increase adoption of Open Source, DevOps and Agile Strong relationships with strategic partners for joint GTM and solutions ✓ Differentiation through IP and Solutions کسا Subscription models bundled with Infosys IP Full-stack developer & architect capability 'Consult-sell-deliver' capabilities to influence downstream business Infosys Navigate your next#22Assure Run the Business. Not the Risks. Cyber Defense Centers ICSP Differentiation based on - People Software 1 Million+ assurance use case repository Campaigns on 'vulnerability assessment' 22 22 Off Security architect capabilities New age assurance capabilities Infosys Navigate your next#23FROM A TELCO TO A TECH-CO WHY DISRUPT? To simplify Telstra's business by providing seamless digital experiences, launch products and services faster with deep involvement from customers In summary, create a brilliant connected future for everyone. Experience Assure Insight Client Digital Journey Accelerate Innovate HOW WE DID IT Telstra & Infosys Co-created a High Performance Software Engineering (HPSE) model: • • . • • Adopted digital ways of working State-of-the-art digital delivery centers enabling Co Creation and Innovation Small and Nimble autonomous teams delivering multiple releases Minimal viable product approach to create what is right for customer Automation that allows us to move at speed with confidence WHAT WE ACHIEVED DI -98% Requirements to Go Live reduced from 2+ months to on demand ~77% Deployment cycle reduced from 3 months to 3 weeks 23 Infosys Navigate your next#2424 Our scalable software and platforms are part of our portfolio Infosys NIA Purposeful Artificial Intelligence ◆edgeverve An Infosys' company Automation, Al and business application platforms 50+ customers 10,000+ processes automated with RPA 50,000+ bots are live. Infosys Finacle Industry leading suite of digital and core banking solutions 1.3 billion+ bank accounts 16.5% of the world's adult banking population Footprint across 100 countries Infosys McCamish TM Leading platform in the insurance and financial services industry 750,000+ transactions managed monthly 2 million+ agents & representatives managed Infosys Navigate your next#2525 Ecosystem partnerships are vital to scaling Agile Digital Google Microsoft facebook amazon SAP ISA ethereum RWTHAACHEN UNIVERSITY servicenow ORACLE mongoDB. MuleSoft IBM salesforce Pega virtustream Waterline Data TRIFACTA Informatica TIBCO™ industrial internet CONSORTIUM TidalScale™ LARGE ECOSYSTEMS NEW AGE ECOSYSTEMS ENTERPRISE PARTNERS INDUSTRY GROUPS STARTUP ECOSYSTEMS Infosys Navigate your next#26ENERGIZE THE CORE | | Infosys Navigate your next Ⓡ#2727 Using lean, automation and Al we are energizing our "core" 1 Standardized toolsets & CoE 1 Incentives for automation Bottom-up automation 2 3 opportunities Integrated, modular platforms 4 Service Line R&D teams 5 Focus on large programs 2 Lean & Automation Academy 3 Individual productivity Infosys Navigate your next#2828 Our Al & automation service energizes our client's "core" Conversational Bots Al & automation Consulting Al & automation COE execution Robotic Process Automation 品 Cognitive Solutions In-house Solutions Infosys NIA ¡ECP Purposeful Artificial Intelligence assistedge Robotic Process Automation Pega Dopenspan IBM Watson™ Al & automation Managed Projects 3rd Party Solutions blueprismi UiPath WorkFusion A AUTOMATION ANYWHERE Cortana Cognitive Automation Machine Learning, Analytics alo Computer Vision & Speech Infosys Navigate your next#29|| EXPAND SKILLING | | Infosys Navigate your next Ⓡ#3030 The cornerstones of re-skilling our talent at scale Learning Ecosystem Immersive and experiential learning Anytime-anywhere learning platforms Redesigned training curriculum Academia Partnerships for curriculum. design and training IBM Microsoft SAP ORACLE coursera HARVARD ManageMentors UDACITY Infosys Research Center for Emerging Technology Solutions Incubation of new offerings. Partnerships & Collaboration ISV/Product company partnerships Joint cohorts with clients and partners Collaboration with content providers. Infosys Navigate your next#3131 Our learning ecosystem makes high quality training available easily Make it Convenient A Accessibility Make it Relevant Content Role-based Domain-specific CONTENT Right-sized Best-in-class Make it Fun Engagement Make it Matter Assessment 24x7 Guidance Infosys Education, Training and Assessment ✓ Lab on cloud Cohort learning Gamification Linked to HR systems & KPIs Project assignment priority Infosys Navigate your next#322 32 Anytime, Anywhere Learning Infosys WINGSPAN#33|| DRIVE LOCALIZATION | | Infosys Navigate your next Ⓡ#3434 We are building local innovation & tech hubs, closer to our clients ONSITE | NEAR SHORE | OFFSHORE Opened 5 innovation and technology hubs in the US and 2 in Europe Access local talent pools 71 COMMUNITY COLLEGES Studios for agile and rapid prototyping CLIENTS Talent refactoring infrastructure PARTNERS 35 Infosys HUB ACADEMIA Lend our value chain to 口 clients Access academia and partner ecosystems Infosys Navigate your next#35|| FINANCIAL PERFORMANCE Q4 and FY19 | | Infosys Navigate your next Ⓡ#36Highlights for Q4 and FY19 41.1% YoY 33.8% FY Digital CC growth 11.7% YoY 21.5% Q4 2.1% CC 9.0% FY 22.8% FY CC growth Operating margin 2.4% Reported QoQ growth 36 Guidance $1.57Bn Q4 $6.28 Bn FY Large deal signings FY 20 revenue guidance in the range of 7.5% -9.5% in constant currency FY 20 Operating margin guidance in the range of 21% -23% All financial numbers are based on IFRS consolidated financials Infosys Navigate your next#37Strong revenue growth, robust FCF and RoE in FY19 Free Cash Flow (FCF) has been robust in FY19; ― Effectively managed currency volatility. FCF - Efficient capital management $1,913 mn Revenue up 9% YoY 1 RoE 22.7% • Competitive cost structure through productivity & automation Strong Revenue growth - Employee cost as % of revenue is stable. Predictable and comprehensive capital allocation policy - Announced final dividend of Rs.10.50/share* Operating margin at 22.8% Employee cost at 54.5% All numbers are based on IFRS USD consolidated financial statements 1 Growth is in constant currency for Infosys group 37 * *Subject to shareholders' approval Infosys Navigate your next#38Steady Revenue growth and Operating Margins 24.7% 23.7% 23.7% 22.6% 21.5% 9.2% 9.1% 8.4% 7.1% 6.8% Q4 FY 18 Q1 FY 19 Q2 FY 19 Q3 FY 19 Q4 FY 19 11.7% in constant currency Digital revenue is 33.8% of total revenue in Q4 FY19 38 All numbers are based on IFRS USD consolidated financial statements Revenue growth YoY % Operating margin % Infosys Navigate your next#39I 39 US$ 100 Mn+ and US$ 1 Mn+ clients - Uptick in the last two years US$ 100 Mn+ clients US$ 1 Mn+ clients Q4 FY19 : 25 Q4 FY19 662 +6 +64 Q4 FY17 19 Q4 FY17 598 Infosys Navigate your next#40FY19 FY18 FY19 FY18 Key operational efficiency parameters in FY19 Employee cost as % of revenue Onsite effort mix 54.5% 54.9% Revenue per FTE ($) Utilization 54,038 54,602 40 All numbers are based on IFRS USD consolidated financial statements 28.6% 29.3% 84.3% 84.6% Infosys Navigate your next#41HISTORICAL FINANCIAL PERFORMANCE || Infosys Navigate your next Ⓡ#4242 1.1 Infosys Growth Story FY04-FY19 CAGR 17.4% 11.8 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY 19 Revenue in US$ billion Infosys Navigate your next#43Steady Revenue growth and Operating Margins 25.9% 25.0% _ 24.7% 24.3% 22.8% 7.1% 13.3% 8.3% 5.8% Constant currency 9.0% Revenue growth YoY % Operating margin % FY 15 FY 16 FY 17 FY 18 FY 19 Digital revenue is 31.2% of total revenue in FY 19 43 All numbers are based on IFRS USD consolidated financial statements Infosys Navigate your next#4444 1,756 1,389 Strong Cash Generation 2,257 2,099 1,947 1,862 1,688 1,449 FY15 FY16 FY17 2,262 1,913 FY18 FY19 ■Operating cash flow ■Free cash flow Amount in US$ million Free Cash Flow = Net cash generated from operations - Capital expenditure Infosys Navigate your next#45|| CAPITAL ALLOCATION | | Infosys Navigate your next Ⓡ#46Evolution of Capital Allocation Policy 30% of NP 40% of NP 50% of NP 70% of FCF Prior to FY14 Apr-14 Apr-15 Apr-17 1 Free Cash Flow = Net cash generated from operations - Capital expenditure 46 The current policy: To return up to 70% of free cash flow (FCF) 1 by way of dividend. and/or share buyback Infosys Navigate your next#4747 FY19 FY18 Capital allocation policy - Implemented Total Dividend 1 $ Mn 1,293 295 Includes proposed final dividend 2 1,304 FY17 1,085 386 Regular dividend Special dividend Buyback Regular Dividend 1 as % of FCF Excludes special dividend Capital return 1 to shareholders $ Mn 63% 69% 1,293 295 1,184 Buyback is ongoing 70% 1,304 386 2,035 All numbers are based on IFRS USD consolidated financial statements 1 Dividend inclusive of Dividend Distribution Tax 2 Final Dividend for FY19 is estimated based on share count at the end of the fiscal year 1,085 Infosys Navigate your next#4848 Review of capital allocation policy The Board, in January 2019, approved the following for the implementation of Capital Allocation Policy: A. Buyback of Equity Shares, from the open market route through the Indian stock exchanges, B. amounting to 8,260 crore (Maximum Buyback Size) (approximately $1,184 million) at a price not exceeding 800 per share (Maximum Buyback Price) (approximately $11.46 per share), subject to shareholders' approval by way of Postal Ballot, and A Special Dividend of ₹4/- per share (approximately $0.06 per share) resulting a payout of approximately 2,107 crore (approximately $295 million) (including dividend distribution tax) C. Post shareholder approval, the buyback through the stock exchange commenced on March 20, 2019 and is expected to be completed by September 2019. During the year ended March 31, 2019, 12,652,000 equity shares were purchased. After the execution of the above, along with the special dividend (including dividend distribution tax) of *2,633 crore ($386 million) already paid in June 2018, the Company would complete the distribution of ₹13,000 crore, which was announced as part of its capital allocation policy in April 2018 *USD/INR exchange rate at 69.78 For details please refer to the press release on January 11, 2019 All numbers are based on IFRS USD consolidated financial statements Infosys Navigate your next#4949 Consistent Dividend Payouts Dividend history (* per share) 21.8 21.5 5.0 4.0 12.9 12.1 11.1 10.5 10.3 7.9 7.4 7.1 7.4 5.3 5.4 3.4 6.5 7.0 5.0 5.5 3.8 1.9 2.5 FY13 FY14 FY15 FY16 FY17 FY18 FY19 ■Interim Dividend ■Final Dividend ■Special Dividend Total Adjusted for Bonus shares * US$169.16 as at March 31, 2019 Declared Final Dividend of 10.50 per share (approximately $0.15* per ADS) Infosys Navigate your next#50We have a structured approach to creating investor value 01 mall 02 LT 03 D Growth with strategic investments Scale Agile Digital with key investments: Go-to-market Localization Capabilities Programmatic inorganic moves Invest in inorganic moves. to expand client relevance Disciplined capital allocation Given high RoE, return up to 70% of free cash flows 50 Infosys Navigate your next#51Key parameters FY17 FY19 Market Cap to Revenue 3.5 4.0 Market Cap to 21.4 24.5 Free Cash Flow Free Cash Flow 1 4.7% 4.1% Yield % Dividend Yield % 2.5% 2.9% 2 All numbers are based on IFRS USD consolidated financial statements Market Cap / share price as on Mar 31, 2019 and Mar 31, 2017 on NSE. Converted to USD 1 Free cash flow yield = Free cash flow per share / share price 51 2 Includes special dividend for FY19 Infosys Navigate your next#52Analyst Ratings NelsonHall Positioned as leader in Nelson Hall 2018 Digital Banking Services NEAT IDC Analyze the Future Positioned as leader in IDC MarketScape: Worldwide SAP Implementation Services Ecosystem 2018 Vendor Assessment, Worldwide. Manufacturing Information. Transformation System Integration 2018 Vendor Assessment Awards and Recognition Institutional Investor Best CFO, Best Investor Relations and Best ESG SRI Metrics CFO100 Roll of Honor CFO wins Roll of Honor as a tribute to his exceptional contribution to investor relations and corporate finance. Everest Group® From insight to action. Positioned as leader in Insurance Application Services: Digital Enablement Spend Fuels Market Growth Services PEAK Matrix ™ Assessment 2018 H&S Research The Services Research Company Positioned as a leader in HfS Blueprint: Smart Analytics, HfS Blueprint Digital One Office, HfS Blueprint on loT Services IR Magazine Best Investor Relations Officer and Investor Relations Team 52 52 Infosys Navigate your next#53|||| Thank You | | | | | | | | | | | | ©2018 Infosys Limited, Bengaluru, India. All Rights Reserved. Infosys believes the information in this document is accurate as of its publication date; such information is subject to change without notice. Infosys acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. Except as expressly permitted, neither this documentation nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior permission of Infosys Limited and/ or any named intellectual property rights holders under this document. Infosys Navigate your next