Coforge Ltd

Board's Report

To,

The Members,

Your Directors are pleased to present the Thirty-Third Annual Report on the business and operations of your Company along with the audited annual accounts for the financial year ended March 31, 2025 (FY2025). The consolidated performance of the Company and its subsidiaries has been referred to wherever required.

FINANCIAL PERFORMANCE OF THE COMPANY

The highlights of the performance results for the FY2025 are as follows:

	(INR Mn except for EPS)
Particulars	FY 2024-25	FY 2023-24	FY 2024-25	FY 2023-24
	Consolidated financials		Standalone financials
Income from operations	120,507	90,089	55,570	48,489
Other Income	1,647	454	4,856	7,598
Total Income	122,154	90,543	60,426	56,087
Profit before depreciation, exceptional items and taxes	17,237	13,670	8,129	11,971
Depreciation	4,276	2,972	1509	1,283
Exceptional Item	-	-	-	-
Provision for tax & (deferred tax)	3,326	2209	1,345	770
Non-Controlling Interest	1,322	286	-	-
Profit After Tax from continuing operations	9,635	8,489	5275	9,918
(Loss)/Profit after tax for the year from discontinued operations	-274	-133		-
Profit for the year	9,361	8,356	5,275	9,918
Earnings Per Share for continuing operations (Basic) (In INR)	127.16	133.73	79.90	161.49
Earnings Per Share for discontinued operations (Basic) (In INR)	-4.15	-2.16
Earnings Per Share for continuing & discontinued operations (Basic) (In INR)	123.01	131.56	79.90	161.49

BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR AND STATE OF THE COMPANY'S AFFAIRS

Operating highlights

Fiscal Year 2025 has been a year of continued strong growth for Coforge. The Company registered a consolidated US$ revenue of US$ 1,445 million (INR 120,507 million) and has clocked a revenue growth of 32.0% in CC terms, 31.5% in USD terms and 33.8% in INRterms.

During the year Coforge signed fourteen large deals, five of which were signed during the recent quarter i.e. Q4FY25. On the back of fourteen large deals signed through the year, the TCV of Company's order book has increased to a record high of US$ 3.5 billion and is up 75% on a year-on-year basis. Coforge's investment in sales and marketing, despite tough market conditions, have resulted in an increasing velocity and median size of the large contracts it has signed during the year.

Financial highlights

On a consolidated basis, revenues increased 33.8% to 120,507 million in FY2025from INR 90,089 million in FY2024. The growth was led by Travel vertical which saw 35.8% YoYgrowth. Banking and Financial Services vertical grew by 22.9%, Insurance vertical grew 15.6%, Govt, outside India vertical grew 29.9% and the other emerging verticals including healthcare and retail grew 71.1% in US$ terms.

For the full year FY25, the Company's gross margin at 33.6%. EBITDA (before ESOP costs) stood at INR 21,713 million translating in to margin of 18.0% for the year.

The net profits (after minority interest) for the year stood at INR 8,121 million.

During the financial year, the company added a net of 8,786 professionals to its headcount thus taking its total headcount to 33,023, at the end of FY25.

The above operating and financial highlights pertain to continuing operations.

The Management's Discussion & Analysis (MD&A) of the Company's global business during the year under review as well as business outlook, along with a discussion of internal controls & risk management and mitigation practices, appears separately in this Annual Report.

Consolidated Financial Statements

The consolidated financial statements are enclosed in addition to the standalone financial statements pursuant to section 129(3) of the Companies Act, 2013 read with all relevant Rules and amendments thereto & SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 as amended, prepared in accordance with the Accounting Standards prescribed by ICAI in this regard. The consolidated Financial Statements together with Auditors Report thereon form the part of the Annual Report.

Return of surplus funds to Shareholders (Dividend)

During the FY25, we continuously followed the practice of returning of surplus cash available with the Company to the shareholders and based on the Company's performance, the Directors have declared four interim dividends, of INR 76 per equity share involving a cash outflow of INR 4,979.6 Mn.

Transfer to Reserves

During the year, the Company has not transferred any amount to the General Reserves.

KEY EVENTS DURING THE YEAR

Redemption of Bonds

Pursuant to Regulation 57(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company on June 28, 2024 has made the payment of full redemption amount towards redemption of listed, rated, redeemable, nonconvertible bonds of a face value of INR 10,00,000 (Indian Rupees Ten Lakhs only) each and aggregating up to INR 340,00,00,000 (Indian Rupees Three Hundred and Forty Crores only) issued by the Company ("Bonds") along with the applicable interest amount of INR 777.24 Lakhs (including withholding tax of INR 116.58 Lakhs) to Bonds holder.

Reclassification of Promoters

Hulst B.V. ("Hulst"), the erstwhile Promoters of the Company has sold all the equity shares held by it in the Company on August 24, 2023, and all its nominees i.e. Hari Gopalakrishnan, Patrick John Cordes, Kirti Ram Hariharanand Kenneth Tech Kuen Cheong have resigned from the board with effect from May 02, 2024 (in so far as Gopalakrishnan and Cordes is concerned) and October 19, 2023 (in so far as Hariharan and Cheong is concerned) respectively.

Accordingly, on receipt of reclassification request from Hulst, it was placed before the Board of Directors of the Company at their meeting held on July 22,2024 and filed an application with the Stock Exchanges on July 31, 2024 for the reclassification of Hulst to public category pursuant to Regulation 31A of SEBI Listing Regulations.

The National Stock Exchange of India Limited and BSE Limited, on January 08, 2025, has granted approval for reclassification of the Hulst from "Promoter /Promoter Group Category" to "Public Category". The Company is operating successfully as a professionally managed company since then.

Shifting of Registered Office from Delhi to Haryana

The Board of Directors of your Company at their meeting held on July 22, 2024 has decided to shift the Registered Office of the Company from '8, Balaji Estate, Third Floor, Guru Ravi Das Marg, Kalkaji, New Delhi - 110019, NCT of Delhi' to 'Plot No. 13, Udyog Vihar Phase - IV, Sector 18, Gurugram - 122015, State of Haryana' to carry on the business of the Company more efficiently and with better operational convenience and shareholders of the Company at Annual General Meeting held on August 23, 2024 accorded their approval for the same. Further, the Regional Director (Northern Region), Ministry of Corporate Affairs, has vide its order dated November 06, 2024, has approved the aforesaid shifting of the Registered Office and the Registrar of Companies, Delhi & Haryana hasissuedthe Certificate of Registration of Regional Director orderfor Change of State dated February 12, 2025.

Qualified Institutional Placement

The Board of Directors of the Company, at their meeting held on March 16, 2024, has approved raising of funds by way of issuance of such number of equity shares having face value of INR 10 each of the Company ("Equity Shares") and / or other eligible securities or any combination thereof (hereinafter referred to as "Securities"), for an aggregate amount not exceeding INR 3,200 crores (Rupees Thirty Two Hundred Crores only) or an equivalent amount thereof by way of qualified institutional placement ("QIP") or other permissible modes in accordance with the applicable laws, which was also approved by the members of the Company at their Extra-ordinary General Meeting held on April 12, 2024 subject to the receipt of the necessary approvals including regulatory / statutory approvals, as may be required.

Further, the Fund Raising Committee (the "Committee") at its meeting held on May 28,2024 approved the issue and allotment of up to 48,69,565 Equity Shares to 143 qualified institutional buyers at the issue price of Rs. 4,600 per Equity Share (including a premium of INR 4,590 per Equity Share), aggregatingto Rs. 22,400 million (Rupees Twenty Two-thousand Four-hundred Million Only) (rounded off), pursuant to the Issue. The Issue opened on May 21,2024 and closed on May 27,2024.

Acquisitions/merger during the year and after closure of financial year

Acquisition of Cigniti Technologies Limited

The Company has entered into a share purchase agreement on May 02,2024, with the promoters and select public shareholders of Cigniti Technologies Limited to acquire up to 54% of the share capital of Cigniti Technologies Limited (collectively, the "Share Purchase Agreements") subject to execution of definitive agreements and completion of certain identified conditions precedent. The Company triggered a mandatory open offer dated May 02,2024, in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

In terms of the Share Purchase Agreements, the Company has completed the acquisition of 7,639,492 equity shares aggregating to 27.98% of paid up share capital of Cigniti on July 04, 2024 and July 05, 2024.

Further, the Open Offer, triggered upon entering into the Share Purchase Agreements, has concluded on November 20, 2024 and 12,81,239 equity shares (aggregating to 4.69% of paid-up share capital of Cigniti) have been credited to the Company's demat account. The Company has also completed the final tranche closing on December 20, 2024, through an off-market transaction pursuant to which the Company has purchased additional 59,54,626 equity shares amountingto 21.62% of the expanded voting share capital of Cigniti.

Accordingly, the Company holds an aggregate of 1,48,75,357 equity shares amounting to 54% of the expanded voting share capital and has the majority of voting powers in the Cigniti.

Scheme of Amalgamation of Cigniti Technologies Limited with and into the Company and their respective Shareholders and Creditors

The Board of Directors at their meeting held on December 27, 2024, approved the Scheme of Amalgamation of Cigniti Technologies Limited ("Cigniti") with and into Coforge Limited and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with rules made thereunder ("Scheme"). The Scheme inter alia provides for the amalgamation of the Transferor Company with and into the Company. Pursuant to the proposed Scheme, as amended post split of shares of Coforge Limited, One equity share of the Company of INR 2/- each fully paid up shall be issued to the shareholders of Cigniti for every 1 equity shares of INR 10/- each fully paid up held by them. The Scheme is subject to the receipt of necessary statutory and regulatory approvals, including approval of Stock Exchanges, Securities and Exchange Board of India, the respective shareholders and creditors of respective companies and jurisdictional bench of the National Company Law Tribunal. On January 10, 2025, the Company filed the Scheme of Amalgamation of Cigniti with and into the Company with the stock exchanges/SEBI, for which the approval is awaited.

The proposed Scheme aims to enhance operational integration and streamline corporate structures. By pooling resources, sharing best practices, and fostering cross-functional learning, the amalgamation will promote systemic efficiency and eliminate redundancies such as duplicate work streams and administrative overheads. This will lead to reduced operational costs, seamless access to assets, and enhanced cash flow management, enabling sustained growth and development of the respective businesses through Coforge.

Additionally, the amalgamation will facilitate market expansion, cross-selling opportunities, and operational efficiencies through consolidated processes and shared services. It will also foster innovation through the pooling of technological resources and talent, while enabling efficient management of business operations of the combined entity i.e. Coforge. The scheme ensures that the rights and interests of employees and shareholders of both Coforge and Cigniti remain unaffected and aligns with the objective of creating long-term value for stakeholders.

On the view of the Board the Scheme is fair, reasonable and not detrimental to the shareholders (promoters and non-promoter shareholders), KMPs and staff and employees of the Company and that there shall be no prejudice caused to them in any manner by the Scheme.

Other Acquisitions

OptML Inc. (Asset Purchase Agreement):

Coforge DPA NA Inc., a wholly-owned step-down subsidiary of the Company has entered into an asset purchase agreement with OptML Inc. and its shareholders to acquire customer contracts, key managerial personnel, employees and sub- contractors/vendors of OptML Inc. (collectively, the "Asset Purchase Agreement") subject to completion of conditions precedent as per Asset Purchase Agreement.

Xceltrait Inc.

Coforge Inc., a wholly owned subsidiary of the Company, has entered stock purchase agreement with Xceltrait Inc. and its stockholders ("Stock Purchase Agreement") to acquire all of the outstanding shares of capital stock of Xceltrait Inc. The transaction contemplated underthe Stock Purchase Agreement completed on February 20,2025, pursuantto which Coforge Inc. has acquired all outstanding shares of Xceltrait Inc.

Rythmos Inc.

Coforge Inc., a wholly owned subsidiary of the Company, has entered into a stock purchase agreement with Rythmos Inc. and its stockholders ("Stock Purchase Agreement") to acquire all of the outstanding shares of capital stock of Rythmos Inc. ("Rythmos Transaction"), subject to completion of closing conditions and closing deliverables as per the Stock Purchase Agreement. Further, Coforge Inc. has acquired 100% of the outstanding shares of Rythmos Inc. from its stockholders in accordance with the Stock Purchase Agreement on April 04, 2025.

TMLabs Pty Ltd

The Company, through its wholly-owned step-down subsidiary, Coforge Technologies Australia Pty Ltd, has agreed to enter into a share sale agreement with and its shareholders ("Share Sale Agreement") to acquire all of the outstanding shares of TMLabs Pty Ltd ("TMLabs Transaction"), subject to completion of closing conditions and closing deliverables as per the Share Sale Agreement. Further, Coforge Technologies Australia Pty Ltd. has acquired 100% of the outstanding shares of TMLabs Pty Ltd from its shareholders in accordance with the Share Sale Agreement on April 16,2025.

Sabre launches strategic collaboration with trusted engineering partner Coforge to accelerate pace of product innovation and delivery

The Company has entered into a new agreement and Sabre Corporation, a leading global travel technology company, that will strengthen the long-standing partnership to supercharge

Sabre's product roadmap. This multi-year agreement positions Coforge as a key partner in furthering Sabre's ability to accelerate product delivery and launch additional innovative Al-enabled solutions, further underscoring the company's commitment to speed and scale.

Sabre's future-forward technology and disruptive approach to the market, coupled with Coforge's scale and expertise, seeks to become a driving force in modernizing the travel industry as a whole - leading a new standard for the pace of change. This 13-year partnership contract is valued at approximately USD 1.56 billion.

This multi-year agreement positions Coforge as a key partner in furthering Sabre's ability to accelerate product delivery and launch additional innovative Al-enabled solutions, further underscoring the company's commitment to speed and scale. Sabre's future-forward technology and disruptive approach to the market, coupled with Coforge's scale and expertise, seeks to become a driving force in modernizing the travel industry as a whole - leading a new standard for the pace of change. The scale and the complexity of the mandate reflects the deep trust and capability that both organizations bringtothis partnership, it underlines, once again our strong commitmentto engineering excellence and driving emerging innovation and transformation for our clients.

OTHER MATERIAL CHANGES OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

There have been following material changes and commitments subsequent to the close of the Financial Year to which Financial Statements relate and the date of the Report.

• Split of Shares

With a view to enhance the liquidity of the Company's equity shares and to encourage the participation of small investors by making it more affordable to invest in the equity shares of the Company, leading to enhanced shareholder base, the Board of Directors at their meeting held on March 04, 2025, have approved the alteration in the equity share capital of the Company by sub-division / split of existing equity shares of the Company, such that each fully paid-up equity share having face value of INR 10/- (Rupees Ten Only) each be sub-divided into 5 (five) fully paid-up equity shares having face value of INR 2/- (Rupees Two Only) each ranking pari-passu with each other in all respects and consequential alteration of the Capital Clause of the Memorandum of Association of the Company, subject to approval of Members of the Company.

The Members of the Company have approved the same by passing the resolution through postal ballot on April 17, 2025.

Further, the Board of Directors at their meeting held on May 05, 2025, fixed the Record Date for the sub-division/ split as June 04, 2025. A new ISIN INE591G01025 was allotted to the Company post the requisite approvals of the Stock Exchanges i.e. BSE and NSE and the depositories

i.e. NSDL and CDSL. The effect of change in face value of the share was reflected on the share price at the Stock Exchanges where your Company is listed (BSE and NSE) effective from June 04, 2025. The necessary effect to adjust the number of Equity Shares in the Demat Accounts of the Members was also completed on June 05, 2025. Retail shareholders have welcomed this move, as it lets them share in the Company's value creation. The capital structure of your Company pre and post sub-division as set out below as on June 4, 2025:

	Pre sub-division		Post sub-division
Particulars	No. of Shares	Amount	No of shares	Amount
Authorised Capital	7,70,00,000	77,00,00,000	38,50,00,000	77,00,00,000
Issued & Paid-up Capital	6,68,85,199	66,88,51,990	33,44,25,995	66,88,51,990

• Sale of Step-down Subsidiary

Coforge U.K. Limited, a wholly owned subsidiary of the Company has entered into a Share Purchase Agreement ('SPA') with Sapiens UK Limited for sale and transfer of entirety of shareholding held by it in Coforge AdvantageGo Limited ("Share Purchase Agreement"), subject to satisfaction or waiver of conditions to Completion and Completion obligations as per the Share Purchase Agreement. Further, the transaction contemplated under the SPA completed on May 30,2025.

• Status update on merger of subsidiaries in India

The company has received the revised Certified True Copy of the Order of Merger issued by the Regional Director of the South East Region on June 03,2025 dated May 28,2025 , approving the merger of Coforge Services Limited (CSL), Coforge Smartserve Limited (CSSL), and Coforge SF Private Limited (SF)—step-down wholly owned subsidiaries of the Company (collectively referred to as "Transferor Entities")—into Coforge DPA Private Limited, a wholly owned subsidiary of the Company (referred to as "Transferee Entity"). The necessary filings with the Registrar of Company under the provisions of the Companies Act, 2013, were made on June 30,2025, to make the Scheme effective.

COMPANIES ACT DISCLOSURES & CORPORATE GOVERNANCE

Annual Return

As required, pursuant to section 92(3) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014 every company shall place the copy of annual return on the website of the Company, if any and shall provide the web-link of the same in this report. Since the Company has a website the Annual return is uploaded on the website of the Company and the web link for the same is https://www.coforge.com/investors/statutory-disrlosures

Directors

With the reclassification of promoter and completion of tenure of Independent Directors on the Board, the Company has identified and appointed new Directors on the Board. The list of all the directors with changes is provided below:

Name of the Director & DIN	Designation
0 P Bhatt* (00548091) (appointed w.e.f. May 01, 2024)	Independent Director- Chairperson
Sudhir Singh (07080613)	Chief Executive Officer Si Executive Director
Beth Boucher (09595668)	Independent Director
Anil Chanana (00466197)	1 ndependentDirector
DK Singh (10485073)	1 ndependentDirector
Gautam Samanta (09157177) (appointed w.e.f. May 02, 2024)	Executive Director
Directors whose tenure completed or resigned
Basab Pradhan* (00892181) (tenure completed on June 28, 2024)	Independent Director- Chairperson
Hari Gopalakrishnan (03289463) (resigned w.e.f. May 02, 2024 - close of business hours)	Non-Executive Director
Patrick John Cordes (02599675) (resigned w.e.f. May 02, 2024 - close of business hours)	Non-Executive Director

* Consideringthe completion of tenure of Basab Pradhan as Independent Director and Chairperson of the Board effective June 28, 2024, the Board appointed 0 P Bhatt as Independent Director effective May 01, 2024, which was further approved bythe shareholders through postal ballot on July 07,2024, and as Chairperson of the Board effective June 29, 2024.

Directors retiring by rotation

Gautam Samanta, Director, retire by rotation and being eligible, offers himself for re-appointment at the 33rd Annual General Meeting of the Company scheduled to be held on September 26, 2025.

Independent Directors

Pursuanttothe provisions of Section 149 of the Companies Act, 2013 & SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended (SEBI Listing Regulations), There arefour Independent Directors on the Board of the Company 0 P Bhatt, Anil Chanana, Beth Boucher & DK Singh. The composition of the Board is in accordance with the terms of the SEBI Listing Regulations & Companies Act, 2013 as amended from time to time. Basab Pradhan (DIN: 00892181) has completed his term as an Independent Director & Chairperson of the Company

on June 28, 2024. The Board of Directors have approved the appointment of 0 P Bhatt as Additional Director (Non-Executive Independent Director) w.e.f. May 01,2024, and Shareholders via postal ballot approved the said appointment on July 07, 2024, on mutually agreed terms and conditions.

All Independent Directors have given declarations that they meet all the requirements specified under Section 149(6) of the Companies Act, 2013 and SEBI Listing Regulations. The eligible Independent directors had qualified the proficiency test, as prescribed by the MCA. In the opinion of the Board, the Independent Directors possess the requisite expertise and experience and are persons of high integrity and repute. They fulfil the conditions specified in the Act as well as the Rules made thereunder and are independent of the management.

During the year, Independent Directors of the Company had no pecuniary relationship or transactions with the Company, other than sitting fees, commission and reimbursement of expenses incurred by them for the purpose of attending meetings of the Company. Details of the Familiarization program for Independent Directors of the Company are available on the website of the Company. Further, at the time of appointment of an Independent Director, the Company issues a formal letter of appointment outlining his/her role, functions, duties and responsibilities. The terms and conditions of the appointment of Non-Executive Directors are placed on the website of the Company at https://www.coforge.com/The detailed information about the familiarization programme is provided in Corporate Governance Report forming part of the Annual Report.

Key Managerial Personnel

Pursuant to the provisions of Section 203 of the Companies Act, 2013, the Company has the following Directors/employees as Whole-time Key Managerial Personnel as on March 31, 2025:

a) Sudhir Singh - Chief Executive Officer & Executive Director

b) Gautam Samanta - President Si Executive Director

c) Saurabh Goel - Chief Financial Officer

d) Barkha Sharma - Company Secretary Si Compliance Officer

Changes in the status of KMPs during the year:

Gautam Samanta has been appointed as the Executive Director of the Company with effect from May 02, 2024. There was no other change in the status of the KMPs during the FY2024-25.

Number of meetings of the Board

The Board of Directors of the Company met 6 (Six) times in the FY2024-25. The details pertaining to the Board Meetings and attendance are provided in the Corporate Governance Report. The interveninggap between two Board Meetings was within the period prescribed under Companies Act, 2013 and SEBI (Listing Obligations Si Disclosure Requirements) Regulations, 2015 as amended. The details of the attendance and other relevant details are provided in the Corporate Governance Report.

Directors' Responsibility Statement

As required under Section 134(3)(c) read with 134(5) of the Companies Act, 2013, the Board of Directors of the Company hereby states and confirms that:-

a) In the preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures;

b) The Company has selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the Profit & Loss of the Company for that period;

c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) The Annual Accounts are prepared on a going concern basis;

e) Suitable internal financial controls have been implemented by the Company and such internal financial controls are adequate and are operating effectively.

f) Proper systems have been devised to ensure compliance with the provisions of all applicable laws and such systems are adequate and are operating effectively.

g) Based on the framework of internal financial controls and compliance systems established and maintained by the Company, the work performed by the internal, statutory and secretarial auditors and external consultants, including the audit of internal financial controls over financial reporting by the statutory auditors and the reviews performed by management and the relevant board committees, including the audit committee, the Company's internal financial controls were adequate and effective during FY2025.

Committees of the Board

The Board of Directors has the following Committees. The report contains the details of composition of Committees as on July 23, 2025.

1. Audit Committee

2. Nomination & Remuneration Committee

3. Stakeholders' Relationship Committee

4. Corporate Social Responsibility Committee

5. Risk Management Committee

Audit Committee

The Audit Committee of the Company is constituted as per Section 177 of the Companies Act, 2013 & Regulation 18 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 as amended, and it consists of all Independent Directors. The details of the attendance in the meetings and other details

are provided in the Corporate Governance Report. The Audit Committee of the Board comprises of the following members:

1. Anil Chanana-Chairperson

2. OP Bhatt

3. Beth Boucher

4. DK Singh

Basab Pradhan completed his second term as an Independent Director and ceased to be the member of the Audit Committee w.e.f. June 28, 2024, and further, Anil Chanana has been appointed as the Chairperson of the Committee w.e.f. April 01, 2024, and 0 P Bhatt, DK Singh appointed as members of the Committee w.e.f. June 11,2024. Barkha Sharma is the Secretary to the Committee. The Board accepted all the recommendations of the Audit Committee made duringthe year. Details pertaining to the number of meetings of the Committee held duringthe year and terms of reference, functioning and scope are given in the Corporate Governance Report in detail in terms of the requirements under SEBI Listing Regulation, 2015 as amended. The Company also conducts pre-meetings of Audit Committee Chairperson with management officials including CFO/ Internal Auditors/Statutory Auditors respectively before the quarterly meetings for his review and comments to incorporate the sam e.

Nomination and Remuneration Committee

The Company has a duly constituted Nomination & Remuneration Committee under the provisions of Section 178 of the Companies Act, 2013 Si SEBI (Listing Obligations Si Disclosure Requirements) Regulations, 2015 as amended. The Nomination Si Remuneration Committee with the following as members:

1. DK Singh - Chairperson of the Committee

2. OP Bhatt

3. Beth Boucher

Hari Gopalakrishnan ceased to be member of the Committee pursuant to resignation as Non-Executive Director of the Company w.e.f. May 02, 2024 (close of business hours). Basab Pradhan completed his second term as an Independent Director and ceased to be the member of the Committee w.e.f. June 28, 2024. Further, DK Singh and 0 P Bhatt have been appointed as the Chairperson and member, respectively, of the Committee w.e.f. June 11, 2024. The details of the attendance in the meetings, terms of reference and other relevant details are disclosed under the Corporate Governance Report of the Company. During the year, the Nomination and Remuneration Committee also passed the circular resolutions on April 20, 2024, April 24, 2024, September 28, 2024, and February 21, 2025.

Stakeholders' Relationship Committee

In terms of provisions of section 178 of the Companies Act, 2013 & Regulation 20 of SEBI (Listing Obligations Si Disclosure Requirements) Regulations, 2015, the Company has duly constituted Stakeholders' Relationship Committee. The Committee is headed by a Non-Executive Independent Director 0 P Bhatt and Barkha Sharma, Company Secretary is Secretary for Stakeholders' Relationship Committee meeting. The scope of Stakeholders' Relationship Committee is as per SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The Committee has delegated work related to share transfer, issue of duplicate shares, dematerialisation/ rematerialisation of shares to the Share Transfer Committee which reports to the Committee. Details pertaining to the number of meetings of the Committee held during the year and terms of reference, functioning and scope are given in the Corporate Governance Report in detail in terms of the requirements under SEBI Listing Regulations, 2015 as amended. The constitution of the Stakeholders' Relationship Committee is as follows:

1. OP Bhatt - Chairperson of the Committee

2. Sudhir Singh

3. DK Singh

Note: Basab Pradhan completed his second term as an Independent Director on June 28, 2024, and ceased to be the chairperson of the Committee w.e.f. June 11,2024, and as member of the Committee w.e.f. June 28, 2024. 0 P Bhatt appointed as chairperson of the Committee w.e.f. June 11,2024. DK Singh has been appointed asthe member of the Committee w.e.f. June 11,2024. Further, Patrick John Cordes ceased to be member of the committee pursuant to resignation as Non-Executive Director of the Company w.e.f. May 02, 2024 (close of business hours) and Beth Boucher ceased to be member of the Committee w.e.f. June 10, 2024 (close of business hours) pursuant to reconstitution of the Committee.

Corporate Social Responsibility (CSR/ESG) Committee

In terms of provisions of the Companies Act, 2013 & Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014 read with various clarifications issued by Ministry of Corporate Affairs, the Company has a CSR/ESG Committee which formulates and recommends to the Board, a Corporate Social Responsibility (CSR) Policy indicating the activities to be undertaken by the Company, as per Schedule VII to the Companies Act, 2013, recommending the amount of expenditure to be incurred and monitoring the expenditure and activities undertaken under the CSR/ESG Policy of the Company. The Annual Report on CSR Activities for FY25 is enclosed with this Report. Details pertaining to the number of meetings of the Committee held during the year and terms of reference, functioning and scope are given in the Corporate Governance Report in detail in terms of the requirements under SEBI Listing Regulations, 2015 as amended. The constitution of the CSR/ESG Committee is as follows:

a) Beth Boucher - Chairperson of the Committee

b) Sudhir Singh

c) Gautam Samanta

Note: Beth Boucher has been appointed as chairperson of the committee w.e.f. April 01,2024. Gautam Samanta has joined asthe member of the committee w.e.f. June 11,2024. Further, Hari Gopalakrishnan ceased to be member of the committee pursuant to resignation as Non-Executive Director of the Company w.e.f. May 02,2024 (close of business hours).

Risk Management Committee

The Committee comprises of the following Directors:

1. Beth Boucher - Chairperson

2. OP Bhatt

3. Anil Chanana

4. Gautam Samanta

Note: Basab Pradhan completed his second term as an Independent Director and ceased to be the member of the Committee w.e.f. June 28, 2024, and ceased to be the chairperson of the Committee w.e.f. June 11, 2024. Beth Boucher has been designated as the chairperson of the Committee w.e.f. June 11,2024. Hari Gopalakrishnan ceased to be member of the committee pursuantto resignation as Non-Executive Director of the Company w.e.f. May 02,2024 (close of business hours). Further, Sudhir Singh ceased to be a member of the Committee w.e.f. June 10, 2024 (close of business hours) and 0 P Bhatt and Gautam Samanta have been appointed as members of the Committee w.e.f. June 11,2024, pursuantto reconstitution of the Committee.

The Internal Auditor is invited to the Committee meetings St the Company Secretary of the Company is the Secretary to the Committee. The terms of reference of the Committee are provided under the Corporate Governance Report of the Company. All the Directors are invited for all the Meetings who are not serving members of the Risk Management Committee. The Company has appointed a Chief Risk Officer to oversee the enterprise-wide risk management framework including identification of Risks and their assessment and mitigation plan.

Policies of the Company Nomination & Remuneration Policy

Pursuantto the provisions Section 178(3) of the Companies Act, 2013, the Board has on the recommendation of the Nomination and Remuneration Committee framed a policy for selection nomination and / or appointment of Senior Management/ Key Managerial Personnel including Directors of the Company and their remuneration. The Policy has been revised by the Board of Directors during the year in terms of the amendments in the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 as amended, the detailed Policy is stated in the Corporate Governance Report.

Vigil mechanism/Whistle Blower Policy

In view of the requirement as stipulated by Section 177 of the Companies Act, 2013 read with Rule 7 of the Companies (Meeting of Board Si its power) Rules, 2014 and Corporate Governance under SEBI (Listing Obligations Si Disclosure Requirements) Regulations, 2015 as amended, the Company has complied with all the applicable provisions and has adopted a Whistle Blower Policy duly approved by the Audit Committee to report concerns about ethics, unethical behavior, actual Si suspected frauds, or violation of Company's Code of Conduct and Ethics. The policy is hosted on the website of the Company. The same provides for adequate safeguards against victimization of director(s)/ employee(s) who avail of the mechanism and also provides for direct access to the Chairperson of the Audit Committee in exceptional cases. It is affirmed that no person has been denied access to the Audit Committee.

Policy for Determining Material Subsidiaries

The Policy for determining the material subsidiaries of the Company is in terms of the amendments in the SEBI (Listing Obligations Si Disclosure Requirements) Regulations, 2015. The said Policy is available on the Website of the Company at https:// www.coforge.com/

Risk Management Policy

The Company's Board has established a Risk Management Committee, comprising a majority of Independent Directors.

Comprehensive details regarding the Committee and its terms of reference are provided in the Corporate Governance report. During the year, the Company revamped and implemented an enhanced risk management framework to identify various risk elements. This framework encompasses five principal risk categories: strategic, technological, financial, operational, and ESG-related risks. The Committee also reviewed developments related to emerging risks—including cybersecurity, data privacy, and geopolitical uncertainties—and considered detailed mitigation strategies. These actions enabled the Board to maintain thorough alignment with the Company's evolving risk profile and ensured proactive oversight consistent with regulatory requirements and global best practices.

The Risk Management Committee reviews key risk elements of the Company's business, finance, operations and compliance, and their respective mitigation strategies. The Risk Management Committee reviews strategic, business, compliance and operational risks. On the other hand, the Audit Committee reviews issues around ethics and fraud, internal control over financial reporting (ICOFR), as well as process risks and their mitigation. Similarly other committees also work around their risk areas and mitigation. The Risk Management Committee operates under the Company's Risk Management Policy and focuses on all major risks associated with the Company. This Committee periodically reviews matters pertaining to risk management.

Dividend Distribution Policy

The Company has a Policy for Distribution of Dividend under Regulation 43A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this policy aims at laying down a broad framework for considering decisions by the Board of the Company, with regard to distribution of dividend to shareholders and/or retention or plough back of its profits. The Policy is enclosed as Annexure -A of the Report and is also available on the website of the Company.

Code of Conduct

The Company Code of Conduct is available on the website of the Company at https://www.coforge.com/. The Chief Executive Officer of the Company has given a declaration that the Directors and Senior Management of the Company have complied with the Code of Conduct during the year 2024-25.

Code on Prevention of Insider Trading

The Company has formulated and adopted a Policy in accordance with the requirements of SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended. In compliance to the SEBI PIT Regulations, the Company has a robust Code of Conduct to prohibit and monitor insider trading in the Company, which is strictly followed within the Company and the reporting is done to the Audit Committee/ Board at regular intervals. The Policy lays down the guidelines and procedures to be followed, and disclosures to be made while dealing with the shares of the Company along with consequences for violation. The policy is amended to bring it in line with the provisions of the prevailing regulations, from time to time.

Training programs were also conducted to spread awareness and self-assessment tests with a passing score. Further, the Company is working rigorously on the effective compliance of SEBI PIT Regulations with all the amendments being discussed and their implementation within the stipulated time period. Pursuant to the provision of Regulation 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015 read with SEBI Circular issued in this regard and in view of Coforge Code of Conduct to regulate, monitor and report trading by designated persons ("Coforge PIT Code"), the Company has put in place a Structured Digital Database System SDD) in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. The Audit Committee also reviews the compliances under the regulation at the quarterly/annual meetings. Procedures have been established for Directors, officers, designated persons, and their relatives regarding trading in the Company's securities. These procedures are regularly communicated to employees identified as insiders. In addition, insider trading awareness sessions are held for designated persons. Notifications about trading window closures, during which Directors and designated persons/insiders are not allowed to trade in the Company's securities, are provided in advance. The company adopted a stringent penalty framework for any violations and any policy violations are addressed and reported to SEBI/Stock Exchanges as required, if any.

Code of Fair Disclosure

The Company's Code of Fair Disclosure is placed on the website of the Company https:// www.coforge.com/.

The management of the Company develops and implements policies, procedures and practices that attempt to translate the Company's core purpose and mission into reality. It also identifies, measures, monitors and minimises risks in the business and ensures safe, sound and efficient operations. These risks are internally supervised and monitored through the Company's Management.

Performance Evaluation

The Company engaged renowned, an external consultant, to conduct performance evaluation of the Board for the year. This aimed to ensure an independent, transparent, and comprehensive assessment of the Board including its members and committees.

The methodology for performance evaluation covered various aspects such as a survey on overall Board effectiveness and Board Member 360 survey, interviews with Directors and external members, review Board practices including structure of Board and Committees, information flow, dynamics and governance processes, skill and competencies of individual Director, to develop a comprehensive report including areas of strength and development.

They conducted the evaluation in accordance with Sections 134 and 178 of the Companies Act, 2013, and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, the annual performance evaluation of the Board, including its committees, individual directors, independent directors, and the Chairperson, for FY25. A detailed report was submitted by them to the Chairperson.

The Chairperson communicated the feedback to all the members and deliberated on the same. The Directors including the Chairperson expressed their satisfaction with the evaluation process duly noted in the NRC and Board meeting.

Managerial Remuneration & Particulars of Employees

The information required under section 197(12) read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in Annexure-B. Further, managerial remuneration is also provided in the Corporate Governance Report. The information as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, is applicable and forms part of the Report.

However, as per first proviso to Section 136(1) of the Act and second proviso of Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Report and Financial Statements are being sent to the Members of the Company excluding the statement of particulars of employees under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Any Member interested in obtaining a copy of the said statement may write to the Company Secretary and the said annexure is also open for inspection at the Registered Office of the Company.

Other disclosures:

Deposits from Public

The Company has not accepted any Deposits under Chapter V of the Companies Act, 2013 during the year and hence no amount of principal or interest was outstanding on the date of the Balance Sheet.

Insolvency & Bankruptcy Code, 2016

There were no proceedings initiated/pending against your Company under the Insolvency and Bankruptcy Code, 2016 which impacts the business of the Company.

Difference in amount of valuations, if any

There were no instances where your Company required the valuation for one time settlement or while taking any loan from the Banks or Financial Institutions.

Share Capital

a) Issue of equity shares with differential rights or sweat equity shares

During the year, the Company has not issued any equity shares with differential rights/sweat equity shares under Companies (Share Capital and Debentures) Rules, 2014.

b) Issue of Employee Stock Options

During the year, the Company issued 1,88,299 (One Lakh Eighty Eight Thousand Two Hundred Ninety Nine) Equity shares on the exercise of stock options under the Employee Stock Option Scheme of the Company (ESOP 2005). Consequently, the issued, subscribed and Paid- up Equity Capital increased to INR 668,788,560 as at March 31, 2025, pursuant to Rule 12(9) of Companies (Share Capital and Debentures) Rules, 2014. The grant-wise details of the Employee Stock Option Scheme are partially provided in the Notes to Accounts of the Financial Statement in the Annual Report and a comprehensive note on the same forms part of the Board Report, which is available on the website of the Company https://www.coforge.com/ investors

c) Provision of money by Company for purchase of its own shares by employees or by trustees for the benefit of employees

In terms of Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014, the Company has not provided any funds for purchase of its own shares by employees or by trustees for the benefit of employees.

d) Buy-back of equity shares of the Company

The Company has not bought back any shares during the year.

Conservation of Energy & Technology Absorption Conservation of energy and environment-friendly initiatives

Environmental sustainability aims to enhance human life quality while minimizing strain on the Earth's resources. It embodies the responsibility to conserve natural resources and safeguard global ecosystems for present and future well-being. Achieving this equilibrium between humans and the natural world involves living in a manner that doesn't deplete resources. An unsustainable situation arises when natural resources are depleted faster than they can be replenished.

At Coforge Limited, we are committed to continuously improving our environmental performance to reduce our carbon footprint and contribute to the environment. Our initiatives include:

• Greater Noida campus running on 100% green energy since November 2024, which contributes 62% of the total energy consumption of Coforge in India.

• Utilizing rooftop areas at Campus for the generation of solar energy with a Solar plant worth 75KW, contributing to the reduction in our carbon footprint and overall grid power consumption.

• Collaborating with regional government authorities in all areas where Coforge operates, with the goal of securing renewable energy connections to power our facilities, aligning global sustainability standards.

• Converting our employee transport fleet from diesel/petrol to CNG in NCR locations and installing EV charging stations

based on current fleet size and its external ecosystem in respective states within India locations to promote electric vehicle adoption.

• Transitioning from LPG to PNG, a natural and safe versatile fuel for cooking within Coforge in-house cafeterias at campus, aiding in energy savings and reducing hazards associated with gas cylinders.

• Achieving LEED certification for our campus, Hyderabad and Bengaluru facilities from construction and operations points of view, and working towards similar certifications for other locations.

• Certified with Environment Health & Safety Management System (EHSMS) standards i.e., ISO 14001:2015 and ISO 45001:2018 to ensure compliance through periodic audits.

• Upgrading AC units to use environmentally friendly refrigerants, aligning with international agreements.

• An energy-efficient chiller system with a CTI(Cooling Technology lnstitute)-approved cooling tower will be installed on campus, reducing our HVAC kWh consumption by 20% and saving water from the cooling tower.

• The hot water system at the guest house has been replaced with an energy-efficient solar hot water system, reducing our energy consumption.

• An energy-efficient VRV system has been installed at the guest house, allowing independent operation and eliminating the need to run the entire 628 TR chiller plant during off- peaktimes.

• Two DGs at our Greater Noida campus are now equipped with RECD to treat exhaust air before releasing it into the atmosphere.

• The reduction of 224 units of 150 Ah batteries from the data center UPS has significantly minimized lead acid battery (hazardous) waste on campus.

• Encouraging tree plantation activities in nearby villages and forests.

• Recycling and treating wastewater for low-end uses like horticulture.

• Committing to making our offices free from single-use plastic, with plastic waste limited to packaging material and disposed of through authorized recyclers.

• Processingfood and horticulture waste in-house for manure production and disposing of all e-waste only through government-approved recyclers.

• Prioritizing the usage of green products for new facilities and appropriate waste segregation throughout during and post-construction phases in India.

• Launching Health, Safety & Environment training modules in India to instill sustainability concepts in our employees' routines and actions.

• The Greater Noida campus has achieved remarkable progress in reducing single-use paper waste and plastics. Paper cup usage has drastically reduced from 6 million to 0.2 million annually. In FY25,6,295 kilograms of Type land 2 paper were recycled into internal-use stationery.

• In FY26, the campus initiated several measures to reduce single-use plastics. Approximately 1.5 lakh compostable garbage bags replaced conventional ones, ensuring the sustainable handling of around 14 tons of waste for the year. Dedicated bins were installed to improve waste segregation. In meeting rooms, plastic water bottles were replaced with reusable glass ones, and recyclable bottles were introduced for client meetings. Additionally, plastic carry bags and food wraps were eliminated in dining areas, reinforcing the commitment to a single-use plastic-free campus.

Technology absorption and R&D (Research & Development)

Coforge is a client centric and growth obsessed organization, focusing on providing holistic and integrated solutions to our clients globally. Our GTM and Integrated solution approach to solve client problems leverages a 4-tiered approach:

• Strategy Tier: The overarching strategy for the enterprise is chalked out at the cusp of Domain Consulting + Strategic Design + Enterprise Architecture. We co-work with our clients in a strategic partnership to define their long-term transformation roadmap.

• Technical Capabilities Tier: To realize the transformative roadmap we leverage our horizontal technical capabilities as end-to-end Value Streams. Our Technical capabilities span across: User Experience, Process Journeys, High Velocity Engineering, Al & Analytics and Packaged Applications.

• Product Engineering Capabilities Tier: To realize Platforms and Products, we leverage new ways of workingand iteratively implement them with a business aligned IT operating model, Product Management, Full Stack Developers, DevSecOps, Quality Engineering, based fully stacked agile teams that focus on modern/cloud based technologies.

• Cloud Hyper-scaler & Security Capabilities Tier:

Infrastructure is built on Agile, Nimble and Reliable design principles that have built in zero trust security capabilities. We always strive to be at the forefront of emerging technologies and use the same for realising Business Value for our clients. Our Innovation mindset, Design Thinking methodology and focus on Emerging Technologies and Patterns help us use these technologies to gain disproportionate value for the business. Our partnership with Microsoft is a strategic asset that enables us to deliver value to our clients and grow our business. Microsoft is one of the hyper-scalers that can drive significant growth for Coforge. A relationship that spans 360 degrees including, buying-from, selling-to and partner-with which forms the basis of the go-to-market with Microsoft. We leverage Microsoft's cutting-edge technologies to optimize our operations, enhance our productivity, and improve our efficiency. We use Microsoft Azure as our preferred cloud platform to host our applications, data, and infrastructure, taking advantage of its scalability, security, and reliability.

We also use Microsoft 365 as our main productivity suite, enabling our employees to collaborate seamlessly across teams and locations, using tools like Teams, Outlook, Word, Excel, and PowerPoint. We empower our workforce with Microsoft Power Platform, a low-code solution that allows them to create apps, automate workflows, and analyze data without requiring extensive coding skills. We also harness the power of Microsoft Aland cognitive services to augment our capabilities and deliver intelligent solutions to our clients. In addition to optimizing our own operations, we also help our clients to benefit from Microsoft technologies.

We have a dedicated Microsoft business unit that provides end-to- end services across the Microsoft stack, from consulting and design to implementation and support. We have deep expertise in various Microsoft technologies, such as Azure, Microsoft 365, Dynamics 365, Power Bl, SharePoint, SQL Server, .NET, and more. We work closely with Microsoft to co-create and co-innovate new offerings that address the emerging needs of the market and generate new opportunities for both parties. We have developed several industry-specific and domain-specific solutions based on Microsoft technologies, such as Coforge Financial Advisor Copilot, Insurance Underwriter Copilot and are in the process of adding our domain knowledge into building smart Copilots. These solutions enable our clients to optimize their processes, enhance their customer experience, and drive innovation in their respective sectors. By partnering with Microsoft, we create value for our clients. We are proud to be a Microsoft Azure Expert MSP along with various advanced solution competencies such as Data and Al, Business Applications, etc. As part of the Go-To-Market (GTM), we leverage the Microsoft Partner Network, which gives us access to exclusive resources, learning paths, training, and support from Microsoft. We are also recognized as a Microsoft Azure Expert Managed Service Provider, a Microsoft FastTrack Ready Partner, and a Microsoft Co-Sell Ready Partner, which demonstrate our capabilities and achievements in delivering

Microsoft-based solutions. We have modeled and conducted internal pilots and with clients on developer productivity with GitFlub Copilot. The results have been on multiple dimensions with developers using GitFlub Copilot report up to 25% faster code writing without sacrificing quality, improved job satisfaction by developers up to 50%, as it enables them to spend more time on meaningful and satisfying work. We believe that GitFlub Copilot can enable increased developer productivity, faster time-to-market, and higher employee satisfaction and retention.

Amongst others, following are the key technologies and horizontal capabilities that Coforge has used effectively during FY25:

Coforge Al Initiatives

1. Al-First Execution Model: Coforge is adopting an Al-First approach across all client engagements. By embedding Al into the foundation of every process we automate, we are unlocking measurable value—enhancing customer experience, optimizing cost structures, and accelerating top-line growth. This approach is now integral to our delivery model.

2. Quasar Marketplace Platform: We have launched the Coforge Quasar Marketplace, a centralized platform that aggregates all Al-related assets including solutions, accelerators, client case studies, architecture blueprints, and knowledge artifacts. This marketplace serves as a single access point for clients, sales teams, and business units to leverage our enterprise-wide Al capabilities.

3. Coforge AgentSphere: Coforge AgnetSphere is our new Al agent marketplace designed to empower individuals and organizations to discover, connect, and orchestrate Al agents to build powerful workflows. This marketplace simplifies finding the right agents for customer needs and creating custom solutions with an intuitive visual workflow builder. Coforge is leading in the application of Agentic Al, leveraging AgentSphere and have deployed nutiple agent based solutions across industries including publishing, insurance, travel, investment management, and manufacturing, focused on functions such as FIR operations, sales augmentation, and research automation

4. Responsible Al Governance: Our Responsible Al Framework enables clients to adopt generative Al technologies with strong governance controls. The framework ensures compliance with regulatory requirements, safeguards data privacy, detects model bias, and enhances explainability— providingtrust and transparency in enterprise Al adoption.

5. Domain-Specific Al Model Development: Coforge has developed specialized Al modelsfor high-impact enterprise use cases:

• Investor Assist and Sales Assist agents

• Optimus, a travel domain model for query handling

• Knowledge Transition Suite, supporting code, audio, and video assets

In addition, we are working with Nvidia and FIPE to codevelop industry-specific models using the Nvidia NeMo framework and FluggingFace open-source foundational models, enabling rapid deployment ofverticalizedAI across key industries such as banking, travel, and healthcare.

6. Role-Specific Al Literacy Programs: Following the successful rollout of our Al Spark training to all employees, we are now advancing toward role-based learning tracks tailored for architects, delivery managers, developers, and sales professionals. These programs, supported by partnerships with Microsoft, Google Cloud, and AWS, are designed to deepen technical fluency and drive Al adoption at scale. Our teams are also certified on GitFlub Copilot to further enhance productivity and software quality.

7. Analyst Endorsement and Industry Thought Leadership: Coforge has received recognition in the top tiers for Al and GenAI capabilities from leading analysts including ISG, FHFS, and NelsonFlall. We have also co-authored thought leadership with analysts on GenAI strategy and adoption, further reinforcing our positioning as a trusted innovation partner.

8. Coforge-ServiceNow Al Lab: In collaboration with ServiceNow, we have established a dedicated Al Lab to integrate our Quasar Al accelerators with the ServiceNow platform. The lab enables rapid prototyping, experimentation, and solution development—allowing clients to unlock Al-driven productivity gains within their ServiceNow ecosystems.

9. Alin Infrastructure Operations (CIMS): We have modernized our Cloud Infrastructure Management Services (CIMS) by embedding a white-labeled, next-generation AlOps platform. This platform enables predictive incident detection, autonomous remediation, and real-time infrastructure intelligence—delivering enhanced reliability, performance, and operational efficiency for our managed services clients.

Quasar Al Studio - Model Garden: Simplifying GenAI Adoption

Developed by our Al Practice, Model Garden is now live on the Quasar Marketplace. This powerful new feature of Al Studio gives you seamless access to a wide range of popular generative Al models—including cloud-based LLMs, embedding models, and on-premises hosted Llama—all hosted on Coforge infrastructure. With a unified API endpoint and a robust backend that manages rate limits, you can easily integrate these models into your applications. Model Garden empowers you to:

• Access a variety of models from one central location.

• Learn about models quickly using informative model cards.

• Test models in real-time with a user-friendly live playground.

• Start coding fast with ready-to-use Python code examples.

Coforge GenAI Central

Coforge GenAI Central is our strategic enterprise platform designed to provide Coforge employees with governed access to leading LLMs such as GPT-4o, Claude 3.5 Sonnet, and Gemini 2.0 Flash. Built on principles of Responsible Al, the platform ensures secure and compliant use of generative Al — supporting daily workflows like research, summarization, ideation, and more. Its intelligent model-routing system ensures every prompt is directed to the most efficient LLM, delivering accurate and context-aware responses. GenAI Central supports daily enterprise workflows such as:

• Generating client briefs or industry research

• Preparing contextual meeting notes

• Drafting outreach or proposal content

GenAI Central showcases Coforge's ability to build compliant, enterprise-grade GenAI environments-a critical differentiator for clients navigating LLM adoption.

SecureOps Al: Smarter Cybersecurity with Al

Many organizations face challenges with fragmented tools, overwhelming data, and critical blind spots. Our CIMS team has developed SecureOps Al, an advanced Al-driven platform designed to solve these problems. SecureOps Al provides a unified, risk-based view of your security posture by aggregating and correlating data from all your existing security tools and cloud platforms. Its intelligent engine automates critical tasks like policy audits and vulnerability prioritization, turning reactive security operations into proactive defence strategies. By leveraging machine learning and contextual threat intelligence, SecureOps Al helps you:

• Maximize the ROI of your current tools.

• Enhance operational efficiency and governance.

• Prioritize risks based on exploitability and business impact.

Niche Al Offerings:

Along with Data HBU, Al CoE have created 2 major market facing offerings - AI4Data and Data4AI. Along with these offerings 3 solutions been created - ML lifecycle as service, Responsible Al and Al / ML model modernization.

Coforge has executed a focused shift in its Data & Al strategy— from consultative, project-led engagements to a more industrialized portfolio of offerings that accelerates data- driven transformation at scale. The strategy, branded as "6+2", encompasses six core Data Modernization offerings and two Al- focused accelerators, enabling clients to modernize their data foundations and make them Al-ready.

Core Data Modernization Offerings:

1. Data Appliance Decommissioning: We support enterprise clients in retiring legacy data appliances such as Teradata, Exadata, and Greenplum, migratingthem to modern cloud- native platforms like Snowflake and Databricks—driving cost efficiency, elasticity, and performance gains.

2. Pipeline Modernization: We help clients shift from legacy ETL tools like Informatica and Ab Initio to modern, scalable PySpark-based data pipelines, enabling faster data movement, better maintainability, and alignment with modern data engineering standards.

3. Report Rationalization & Modernization: We rationalize and modernize legacy reporting platforms such as Business Objects, transitioning enterprises to self-service analytics platforms like Power Bl. This improves accessibility, reduces cost, and promotes data democratization.

4. Database Stack Modernization: Coforge assists clients in upgrading their legacy database ecosystems—migrating from platforms like Sybase to modern, open-source alternatives such as PostgreSQL, improving agility, scalability, and licensing flexibility.

5. ML Model Modernization: We enable the migration of legacy machine learning models developed in R or SAS to modern frameworks like Python, TensorFlow, and Scala, improving model portability, automation, and integration with cloud-native Al stacks.

6. Data Quality, Governance & Lineage Implementation: To ensure long-term reliability and trust in data, we implement enterprise-grade data governance, quality management, and lineage systems aligned with modern platforms—critical for regulatory compliance and Al- readiness.

With 2 Al Accelerators for Data Transformation

Data4AI: This offer focuses on making enterprise data Already by preparing large, siloed datasets for Al consumption. It includes the creation of enterprise feature stores and vector stores, enabling effective retrieval-augmented generation (RAG) and ML training pipelines.

AI4Data: We embed Al within the data modernization process itself, using GenAI to automate pipeline generation, suggest schema mappings, enhance data quality checks, and streamline governance tasks—reducing time-to-value and human effort.

Strategic Impact: The "6+2" data strategy has positioned Coforge as a scaled, modernization-first partner capable of delivering repeatable, platform-led transformation in Data and Al. This approach enables our clients to:

1. Exit legacy technology with minimal disruption

2. Build modern, cloud-native data platforms

3. Prepare their organizations for enterprise-scale Al adoption

4. Improve operational efficiency and data ROl

Key Accelerator Examples are:

1) Code-Xpress takes care of converting the code from Teradata BTEQ's to Snowflake Migration, GCP DataProcs to Databricks etc

2) Mig-Xpress helps migrating the data from one database to another followed by data-quality and reconciliation in it. Examples:- DB2 to MS-SQL, Oracle to Postgress etc.

3) IngestXpress streamlines real-time analytics with smart, reusable pipeline templates. Examples:- Informatica to Snowflake, Talend to Databricks etc.

Based on the above offerings, below are some mention worthy Data Wins in FY25:

We had signed contracts with multiple customers across different geographies based on our revamped data & Al offerings.

• We have signed the deal for the Data Migration project with Largest Australian Airlines wherein we are goingto leverage our inhouse accelerators like CodeXPress for Code conversion and MigXpress for Data Migration from Greenplum to AWS.

• For leading Financial Customer in Agriculture Financing, Coforge is bringing Data Modernization and Transformation on Azure and Databricksto enable multiple business entities to streamline their reporting and analytics.

• We partnered with a prominent UK public healthcare department to upgrade their customer CRM solution from SugarCRM to Pega, and to migrate their SAP HANA BW instance to a Microsoft Azure Data Warehouse. By leveraging our in-house utilities for Data Lake implementation, we aim to boost productivity by 40%.

• For one of the largest and fastest growing retail stores, we are workingto build Data Exchange Platform on Azure along with Report Rationalisation Programme. Standardizing data contracts, enabling multiple ingestion methods (including Ul), building reusable frameworks for Ingestion and Integration with external ecosystems where Customers/Partners/ Franchises can share data and exchange insights in a secured way.

• For one of the Canada based insurance organization, Coforge has signed to work on a strategic initiative to modernize their data landscape by consolidating existing reports and building new reports on an efficient cloud-based data platform on Azure Fabric, with key objectives of enhancing the data quality as well as improving the reporting capabilities.

• Coforge team has rapidly scaled up a Data Platform capability for a leading global airline HQ in South West US for their Bl and Analytics automation and Data Estate Transformation.

• We are Modernizing case data management and reporting for an Australian Government agency by building a secure cloud-based Data Lakehouse on Microsoft Fabric. The solution integrates dynamic Pega case data, automates updates, enables real-time reporting through Power Bl, and enhances data quality. CI/CD, DataOps, and automated change detection ensure scalability, efficiency, and minimal manual intervention.

• For a leading UK-based financial services firm, we are enabling the transition from fragmented Google Analytics dashboards to a unified Power Bl platform. The solution delivers advanced drill-down capabilities, user behavior insights, and executive reporting, while also providing ongoing maintenance and timely updates to support evolving business needs and improve data-driven decision-making.

• Helpinga leading UKfinancial servicesfirm in decommissioning its legacy EMS data warehouse by migrating critical use cases for LBC (Lloyds Bank Cardnet) to a centralized Data Analytics Platform on AWS cloud and Snowflake. As a result, enabling seamless integration, efficient data delivery, enhanced risk analytics, and a future-ready architecture with improved test coverage.

• Empowering a leading UK-based insurance firm to drive data- led decision-making by modernizing their data platform on AWS. Enhancing scalability and governance through metadata-driven ingestion, harmonized data zones, and automated pipelines, while improving reporting efficiency by migrating Quicksight dashboards to Power Bl and accelerating time-to-insight with CI/CD automation.

Additional Capabilities:

Composable Architecture: Has emerged as an effective solution to address the challenges of enabling seamless and consistent experience across multiple touchpoints and channels while delivering at accelerated pace. We have created reference architecture and frameworks to support Composable Architecture for Banks. By leveraging micro frontends and composable architecture, banks can empower product squads to work independently in parallel to develop micro apps. These apps get composed seamless to provide the users a modern cross-channel experience. We are already implementing this with a UK bank and have consulted with a middle east bank to take a composable architecture approach in their multi-year program to modernize their corporate portal.

Hyper-scalar Alignment & Investments: We have placed our big bets on realizing at improved velocity the Journey to Cloud for our clients and have made deep investments in aligning our operating model to AWS, Azure and GCP dedicated hyperscalers structure with integrated solutions cutting across Infra + Apps + Data. We lead with Cloud maturity assessment, define the disposition strategy using R-Lane analysis and create a business plan based on the Cloud economics and its associated benefits. In this context, we have partnered with many strategic partners such as VMWare, RedHat, HPE, Dell, Cisco, Juniper, Citrix and Oracle etc.

Strategic Design and Marketing: We are building strategic partnerships in this space and co-work with our partners to take human centred approach to solving client problems.Our differentiated approach includes: interviewing stakeholders, conducting ethnographic research, identifying personas, building customer journeys and realizing MarTech and Commerce implementation and rollouts.

Cybersecurity and Compliance: We are committed to maintaining robust information security practices, ensuring alignment with latest technology standards and the ever evolving cybersecurity threat landscape. We have further strengthened our cybersecurity posture through the deployment of Endpoint Detection and Response (EDR) technology, continuous vulnerability management, integration of managed threat hunting services, enterprise-wide deployment of NextGen unified threat management firewalls and Privileged Access Management. We also continue to leverage advanced cybersecurity services such as Dark Web and Deep Web Monitoring, Attack Surface Management, Brand Protection, and Cyber Threat Intelligence to enhance our threat detection and response capabilities. We have implemented automated playbooks within our SIEM SOAR platform to enhance event, log monitoring and response across compute and network devices, providing our 24x7 Security Operations Centre with a unified view for threat detection and response. We have also significantly evolved our strategy for 'security and privacy first' culture amongst our employee by modernizing our cybersecurity and data privacy awareness and training initiatives.

In alignment with our ongoing commitment towards Cybersecurity and Privacy, we have achieved 15027701:2019 for our Privacy Information Management System (PIMS) for Greater Noida location and entity wide upgrade to ISO 27001:2022 Information Security Management Systems (ISMS) standard. This is in addition to our continued certification and compliances with ISO 22301:2019 for Business Continuity Management System (BCMS) and SORs. 2 Type II and HIPAA.

Amongst some of the notable new initiatives this year, we plan to increase automations in our vulnerability management, application security, attack surface management and expand the scope of PIMS to include more sites across India.

Salesforce: We help enterprises build stronger, more valuable relationships with customers and partners across all engagement channels. We combine our deep industry / domain expertise with the senior mix of Salesforce technical and functional experts that is required to implement complex Sales, Service and Marketingtransformations. We have worked on multi-pronged strategy creation for our clients to reengineer legacy infrastructure through digitization into a modern state- of-the art platforms. Keeping the cloud architecture vision in focus, Coforge's solution focus on abstracting data from mainframes through core APIs and serverless technology on the cloud. DynamicCustomer Journey Orchestration solutions are developed for Mortgage Lendingand Underwriting on Salesforce Financial Services Cloud and Service Cloud leveraging various Salesforce technologies including Lightning Web Component (LWC), OmniStudio and Salesforce Flow technologies. This reusable journey orchestration solution can be easily configured for Personal Loans, Auto Loans and Credit cards. Based on specific customer needs, we have developed several reusable frameworks to include:

1) Loan origination customer journey orchestration which can be applied to Consumer, Credit Card, Mortgages and other types of loan products.

2) Insurance industry Broker Management, to understand and manage the profitability of activities of a large Broker network.

3) Customer Service Disruption Management for the travel industry.

Pega:

• Intelligent automation, Decisioning driven 1:1 customer engagement and customer service:

Intelligent automation refers workflow and RPA driven case management, 1:1 customer engagement refers to personalized interaction (Sales, Service and Marketing) between a customer and a business representative, leveraging the core Al engine. Pega has invested significantly in this technology and leveraging it for their core account growth strategy using Predictive analytics, Adaptive model Natural language processing (NLP), Text analytics, Decision management using customer decision hub (CDH) and native platform machine learning capabilities. Coforge DPA has invested building this capability and built use cases across insurance, banking, public sector and others.

• Interactive, high performant and responsive Ul/

UX: Pega Cosmos React & now constellation-based architecture includes a range of pre-built Ul components that can be used out of the box or customized to fit the specific needs of a project, which are flexible to connect to multiple systems, utilising Pega headless architecture delivering seamless user experience across different devices and multiple sources of data.

• Workflow and IDP synergy:

Intelligent Document Processing (IDP) combines artificial intelligence (Al), machine learning (ML), natural language processing (NLP), optical character recognition (OCR), and automation to extract, analyse, and process data from various types of documents. IDP systems are designed to handle complex, unstructured, and semi-structured data from sources such as forms, invoices, emails, contracts, and other business documents. DPA is also actively proposing QUASAR (An in-house intelligent document management system (IDP)) to clients supplementing Workflow solutions for scenarios like document ingestion, Pre-processing, Text analysis and extraction and continuous learning, in use cases like Claims and KYC.

• Cloud migration and Upgrade:

The latest versions of Pega 8.8 Cloud features enable customers achieve on demand scalability and enhanced security using modern Kubernetes container-based architecture, keeping the user experience seamless. Coforge has built accelerators for Pega 8.8 upgrades including migration tool kit, upgrade assessment and pseudo code. Using this upgrade service offerings, we have delivered for one customer and have signed two more opportunities.

• Coforge Healthcare (INFUSED) has developed multiple solutions to provide though leadership client namely Interqual Connect Asset on Pega Marketplace facilitating clinical information intake and workflow for Pega Care Management clients, ARC Asset (Authorizations Rule Center) for managing prior authorization rules in multiple systems (demo capable mid-May). It also has architected disruptive platform for next generation provider office technology solution.

Appian & Low Code No Code:

• Hyper automation powered by Al:

Coforge has effectively used the Hyper automation capabilities of Appian like RPA, Al, Unified Workflows and IDP to modernize and automate elaborate workflows in traditionally manual processes. Our industry specific solution accelerators created for Insurance, Finance, Public Services and Travel have gained significant interest because of the end-toend Al led automation leveraging the amazon.ai capability embedded in Appian. Using low code no code intelligent process automation and API based routing, Coforge designed a trade management application for crypto brokerage enabling brokers, to access real time market data, place trades and monitor portfolio performance in real time. In this solution, Coforge integrated Tradius system to initiate the orders.

• Smart citizen central service using low code no code:

Coforge has designed a smart citizen central service for public legal aid application, on the Appian low code no code platform embedding NLP St chatbot for automating citizen query responses, prompt report statuses and ongoing intelligent workflow.

• ServiceNow CoE:

We have a dedicated ServiceNow CoE with 200+ ServiceNow Consultants having experience of 50+ implementations across Fortune 500 customers supporting 65,000+ fulfiller licenses with over 1 million configuration items/assets in complex environments comprising of multiple integrations. ServiceNow CoE delivers ServiceNow Consulting services, Implementation Si Integration Services and Managed Services and have developed accelerators such as LicenseWise (track Si optimize ServiceNow Licenses), One-Click Translator (for translating knowledge articles, notifications, catalogue in language of choice), GuardRailNow (Health Scan utility to check configuration issues and recommend fixes). We are Elite Segment Partner for US, UK and India region and has been identified as Rising Star in ISG Provider Lens™ (IPL) Quadrant study on "ServiceNow Ecosystem Partners 2023 ISG Provider Lens™ Study."

• Cloud Sc Infrastructure Management Services (CIMS):

We run business-critical systems and operations for our global customers while ensuring security and scalability across public, private and hybrid clouds. We help clients reimagine and modernize their IT infrastructure strategy towards a flexible and scalable cloud environment that delivers fast and efficient business value while delivering superior digital workplace experience for their customer, partners and employees. Our service offerings span across Cloud (Public, Private, Hybrid), DevOps & Automation, Data Centre, Network, Cybersecurity, Digital Workplace Services, and IT Services and Operations Management. We also help customers in their Journey to Cloud through Advisory & Consulting Services so that can transform their business by building a Cloud Native or an Hybrid Cloud Operating Model.

• Business Process Solutions (BPS):

The BPS unit couples our technology and Al expertise with deep domain expertise, led by experienced consultative practitioners to deliver value in our 3 E model - enhance customer experience, improve business effectiveness and increase efficiency. We are a challenger to the traditional BPO models that are based on FTE effort and focus on leveraging Al to drive business outcomes. We maximize Al led automation even as it cannibalizes existing revenues. We view Al as augmentative to human capital and human capital is used to cover regulatory requirements, traceability and Al explainability.

Our domain expertise covers industry specific solutions like Banking, Cards, Mortgage, Financial Services, Insurance, Travel and Hospitality along with cross- industry solutions like Customer Experience. We operate in multiple locations across the globe - US, India, Philippines and Mexico and in other countries in client locations and with partners where needed. Reliable and consistent delivery is critical to client retention in our business given the nature of the operations - 24X7, impact on our clients' revenues, end customer experience in all the work we undertake for

our clients. In our technology-driven Business Process Services (BPS), the services we offer leverage leading platforms and also point solutions with our internal tools. One example of an internal tool is Copasys, a patented QA automation software to drive digitized processes in a platform plus services model. We also leverage industry standard tools like Celonis for process mining and once the opportunities for automation are identified, we use range of solutions like Agentic Al and intelligent workflows. AI/GenAI has helped us further enhance our services to develop tailored solutions and tools for specific challenges. A few focus areas are:

(a) Enterprise document processing, data extraction, and classification using DocAI.

(b) Speech-to-text transcription for QA and call data summarization using Microsoft Al & ChatGPT for agent training and performance management,

(c) Development of conversational chatbots for respondingto loan queries.

(d) Knowledge management solutions leveraging GenAI capabilities,

(e) Code generation, test case creation, and business/compliance rules configuration using GenAI.

(e) . BPM Workflow Automation, Workforce Productivity Management, Contact Centre Digitization.

Quality Engineering:

We provide Quality Engineering Si Testing services using an automation-first approach to drive software and application quality. Our Quality Engineering services - enabled by 2,400+ passionate Quality Engineering experts - are designed to inject speed, quality, productivity, and intelligent insights across the SDLC. Whether customers want to accelerate time to market, reduce costs, or transform their testing function and workforce, Coforge Quality Engineering has the right skills, capabilities, and accelerators to help them succeed. Our suite of frameworks and accelerators leverage Al for self-healing and autonomous automation. We offer services around: QE Transformation, Test Lifecycle Automation, Business Assurance, Digital Assurance, and Enterprise Application & Product testing.

Foreign Exchange Earnings and Outgo (INR Million)

Particulars	Year 2024-25	Year 2023-24
Foreign Exchange	49,730	45,664
Earnings
Foreign Exchange	18,247	14,728
Outflow

Details of significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and Company's operations in future.

During the year, no order was passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future.

Details in respect of adequacy of internal controls and internal and statutory audits

Internal audit / Statutory audit and secretarial audit

The Board and Audit Committee acknowledge the auditors' recommendation as an independent verification of information received from management regarding the company's operations and performance. The Board and Audit Committee periodically review the findings and recommendations of the Statutory and Internal Auditors and recommend corrective actions when necessary.

The Company monitors and evaluates the efficacy and adequacy of internal control systems in the Company, their compliances with operating systems, accounting procedures and policies of the Company based on audit findings. It has established both external and internal audit systems. Auditors are granted access to all relevant records and information Based on the report of Internal Audit Function, process owners undertake corrective action in their respective areas and thereby strengthen controls system of internal controls is maintained and adhered to achieve Operational effectiveness and efficiency, adequacy of asset safeguards, reliability of financial and non-financial reporting and Compliance with applicable laws and regulations.

The clearly defined policies and procedures, process automation, employee training and development, and an organisational structure that separates responsibilities help in maintaining integrity and reliability within internal control systems of the company.

The internal auditors operate independently and responsible for assessing and enhancing the effectiveness of risk management, controls, and governance processes. They offer offers risk-based, advice, and insight aimed at supporting organisational value. Annual audit plans are created based on risk assessments and comprehensive reviews are undertaken covering financial, operational, and compliance controls. Wherever requirement of more insights are felt and specialised knowledge is required, external experts are consulted or individuals with relevant skills are brought in. Process improvements identified during reviews are communicated to management regularly. The Audit Committee of the Board monitors the performance of the internal auditors through periodic review of audit plans, findings, and issue resolution progress. The Audit Committee holds at least four meetings per year to evaluate internal audit findings. Separate review meetings of Audit Chair with internal and statutory auditors are also held for better transparency and corporate governance before quarterly meetings. Additionally, the Audit Committee meets with the Statutory Auditor during the year without management present. Independent Directors also meet on quarterly basis without the management officials to discuss the important areas for better governance and any recommendations by them to the management are taken on priority and acted upon as part of good governance practice.

Statutory audit

Each financial year, the Statutory Auditors confirm their independence and compliance with relevant ethical standards. Based on their procedures, no risks or situations have been identified that could compromise their independence as auditors of the Company, in accordance with applicable Indian regulations.

Statutory auditors assess whether the company's financial statements fairly represent its financial status and performance. They audit according to accepted standards, review internal controls as needed, and share observations with management. These points are discussed at Audit Committee meetings, where the auditors' suggested improvements are addressed. The action items, if any, are also tracked and the committee is informed on the actions taken during the quarter in the next meeting

Similarly, secretarial audit forms integral part of these audits. All the required information is supplied to the auditors within stipulated time frame with regular review meetings and the quarterly reports are presented to the Audit committee for its noting.

Details of Subsidiary/Joint Ventures/Associate Companies

As on March 31,2025, the Company has subsidiaries in the United States of America, United Kingdom, Germany, India, Singapore, Thailand, Australia, Dubai, Spain, Poland, Netherlands, Romania, Sweden, Malaysia, Japan, Saudi Arabia, Mexico, Costa Rica, Ireland, UAE, Philippines and Canada

Details about the companies which have become/ ceased to be subsidiaries during the Financial Year

The Company has acquired Cigniti Technologies Limited during the year and accordingly, the following subsidiary/step- down of Cigniti Technologies Limited also become step-down subsidiaries of the Company:

- Cigniti Technologies Inc

- Cigniti Technologies UK Ltd

- Cigniti Technologies (Canada) Inc

- Cigniti Technologies (Australia) Pty Ltd

- Aparaa Digital Private Limited

- Cigniti Technologies (CZ) Limited s.r.o.

- Cigniti Technologies (SG) Pte. Ltd Gallop Solutions Private Limited Cigniti Technologies CR Limitada

- RoundSqr Pty Ltd.

The Company also acquired following companies through its subsidiaries/step-down subsidiaries:

- Xceltrait Inc.

- Rythmos Inc. and its subsidiaries

- Rythmos India Private Limited

- TMLabs Pty Ltd

Also, one new step down subsidiary company was incorporated:

- PT. Coforge Indonesia Services (Indonesia)

The update on merger of subsidiary Companies in India is already provided in earlier pages.

Performance and financial position of each of the subsidiaries, associates and joint venture companies included in the consolidated financial statement. During the year, the Board of Directors reviewed the affairs of the subsidiaries. Pursuant to provisions of Section 129 (3) of the Companies Act, 2013, a statement containing a report on the performance and financial position of each of the subsidiaries, associates and joint venture companies is included in the consolidated financial statement and the same has been annexed to this Report as AOC-1 given in AnnexureC.

In accordance with the provisions of Section 136 of the Companies Act, 2013, the audited Financial Statements of the Company, consolidated Financial Statements along with relevant documents are available on the website of the Company (www.coforge.coml.

Particulars of loans, guarantees or investments under section 186 of the Companies Act, 2013

The Company has not given any loan to any person. The particulars of loans, guarantees or investments under section 186 of the Companies Act, 2013 by the Company, have been disclosed in the financial statements. The details of the securities acquired by the Company of other body corporates is given as under:

Investments in equity instruments in subsidiary companies (fully paid)	Investment value as on March 31, 2025
2,837,887 (March 31, 2024: 2,837,887) Shares having no par value in Coforge Inc. USA	156
16,614,375 (March 31, 2024: 16,614,375) Shares of 1 Singapore $ each fully paid-up in Coforge Pte Ltd., Singapore	703
3,276,427 (March 31, 2024:3,276,427) Shares of 1 UK Pound each fully paid- up in Coforge UK Ltd., UK	204
537,900 (March 31, 2024: 537,900) Equity Shares of Euro 1 each fully paid- up in Coforge GmbH, Germany	185
1,000,000 (March 31, 2024:1,000,000) Equity Shares of Euro 1 each fully paid- up in Coforge Airline Technology GmbH Germany	224
5,000 (March 31, 2024: 5,000) Ordinary Shares of 1000 AED each fully paid in Coforge FZ LLC Dubai	63
5,182,069 (March 31, 2024: 5,182,069) Equity Shares of INR 2 each in Coforge DPA Private Limited	7,593
722,527 (March 31, 2024: 722,527) Equity Shares of INR 10 each in Coforge Business Process Solutions Private Limited	12,552

 

	In INR Mn.
Investments in equity instruments in subsidiary companies (fully paid)	Investment value as on March 31, 2025
14,875,357 (March 31, 2024: Nil) Equity Shares of face value of INR10 each in Cigniti Technologies Limited	20,964
Total equity instruments	42,644

Particulars of Contracts or arrangements with Related Parties

The Related Party Transaction Policy deals with the review and approval of related party transactions. The Board of Directors of the Company has approved the criteria for making the omnibus approval by the Audit Committee. The Board has the Policy in line with the recent amendments in SEBI Listing Regulations and is uploaded on the website of the Company at https://25186482fsl.hubspotusercontent-eul.net/ hubfs/25186482/ RPT-Policy-l.pdf A Statement of all related party transactions is presented before the Audit Committee on a quarterly basis and prior/ omnibus approval is also obtained for the entire year, specifying the nature, value and terms and conditions of the transactions. None of the transactions with the related parties fall under the scope of Section 188 (1) of the Companies Act, 2013. Details of Related Party transactions pursuant to Section 134(h) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014 are given in Form No. AOC-2 in Annexure - D.

Management's Discussion and Analysis Report

In terms of Regulation 34(e) of the SEBI (Listing Regulations), 2015 as amended from time to time, the Management's Discussion and Analysis Report is set out in this Annual Report.

Business Responsibility and Sustainability Report

The SEBI (Listing Regulations), 2015, read with SEBI Circular no. SEBI/H0/CFD/CMD-2/P/CIR/2021/562 dated May 10, 2021 has prescribed the format for the Business Responsibility and Sustainability Reporting (BRSR) in respect of reporting on ESG (Environment, Social and Governance) parameters by listed entities mandates the inclusion of Business Responsibility and Sustainability Report ('BRSR') for top 1000 listed companies based on market capitalization as on March 31, 2025. In compliance with the samethe Company has formulated Business Responsibility and Sustainability Reporting Initiatives, Policy, and Framework adopted. The BRSR Report for the Financial Year ended March 31, 2025, has been enclosed with this Report.

Corporate Governance

In terms of Regulation 34 of the Securities Exchange Board of India (Listing Regulations), 2015 as amended from time to time, a Report on Corporate Governance along with Compliance Certificate issued by Statutory Auditor's in terms of Part E of Schedule V of the said Regulations of the Company forms an integral part of Corporate Governance Report.

Compliance with applicable Secretarial Standards

The Company is in compliance with the applicable Secretarial Standards issued by Institute of Company Secretaries of

India and notified by the Ministry of Corporate Affairs with all

amendments thereto.

Auditors & Auditors' Report/Certificate

a. Statutory Audit:

S R Batliboi & Associates LLP (FRN 101049W/ E300004) have carried out Statutory Audit under the provisions of section 139 of the Companies Act, 2013 for the financial year 2024-25. The Report given by Auditors forms part of this Report. The Auditors Report to the Shareholders does not contain any qualification, reservation or adverse remarks.

b. Secretarial Audit:

During the year, the Board of Directors of the Company appointed Ranjeet Pandey (Membership No.5922) of Ranjeet Pandey & Associates, Company Secretaries (CP No - 6087), in Whole-time Practice, to carry out Secretarial Audit underthe provisions of Section 204 of the Companies Act, 2013 and the Rules framed thereunder, for the Financial Year 2024-25. The Secretarial Audit Report for the financial year ended March 31 2025, was considered by the Board in its meeting held on July 23, 2025, and the said Report given by Secretarial Auditors is annexed to this Report as Annexure-E. The Secretarial Audit Report does not contain any qualification, reservation or adverse remarks.

Further, the Board of Directors of the Company, on the recommendation of the Audit Committee, at their meeting held on May 5, 2025, has approved the appointment of Parikh & Associates, Practising Company Secretaries, a peer reviewed firm (Firm Registration Number: P1988MH009800) as Secretarial Auditors of the Company for a term of five consecutive years commencing from FY 2025-26 till FY 2029-30, subject to approval of the Members.

c. Internal Auditors:

The Board on the recommendation of Audit Committee had appointed KPMG Assurance and Consulting Services LLP, Limited Liability Partnership, Firm Registration Number: AAT- 0367 as its Internal Auditors of the Company. The Internal Auditors report to the Chairperson of the Audit Committee. The Internal Auditor monitor and evaluate the efficacy and adequacy of internal control systems in the Company, their compliance with operating systems, accounting procedures and policies at all locations of the Company. Based on their reports, corrective actions in respective areas are taken to strengthen the controls. There are no significant audit observations made by Internal Auditors.

d. Auditors Certificate on Corporate Governance:

As required by SEBI (Listing Regulations), 2015, the Auditor's Certificate on Corporate Governance is provided within the Corporate Governance Report. The Auditors Report to the Shareholders does not contain any qualification, reservation or adverse remarks.

e. Cost audit & records:

Section 148 of the Companies Act, 2013 is not applicable to the Company. Therefore, Cost Audit has not been conducted for the financial year 2024-25 and records are not maintained.

f. No fraud has been reported by the Auditors to the Audit Committee, Board or any other relevant authority.

Human Resource Initiatives

Nurturing a positive corporate culture is integral to our business and is reflected in our phenomenal growth journey. Guided by our vision, "Engage with the Emerging," we deliver best-in-class solutions using new-age technologies. Our mission, "Transform at the Intersect," has cemented our position as an expert in focused industry verticals. We follow a 4E strategy to curate a holistic global employee experience:

• Examining the pulse of the organization

• Ongoing Employee Engagement

• Providing Education through robust learning and development initiatives

• Offering Encouragement for meaningful interactions with our people

The outcomes of these interventions are reflected in our key people metrics, including high retention rates and Employee Engagement Scores (EES) that exceed industry benchmarks. Additionally, our people practices have received external recognition - reflecting our efforts to create an engaging and supportive environment.

As an organization that has always believed in "Coforge is People," our collective efforts have enabled us to emerge stronger, stay the course with our growth story, continue delivering value to our customers, and remain focused on nurturing our culture.

Elements of our strategy have been listed below: Examine

Coforge actively gauges employee sentiment through various tools, with our comprehensive Annual Employee Engagement Survey (EES), branded "My Voice," focusing on critical areas such as professional growth, work-life balance, managerial support, training, teamwork, and commitment.

Engagement

We are a people-first organization with friendly, flexible policies and practices. The testimony to this is the sustenance of being GPTW certified for four consecutive years. We have developed a robust talent framework aimed at providing a sustainable employee experience, which includes multi-channel touchpoints, an open culture of speaking up, timely recognition, a transparent work environment, and focused coaching and development opportunities.

Coforge ensures that our people do not only have the right skills but also aligned with the business strategy and goals of its client organization.1) Training and learning opportunities to ensure the right individual productivity. 2) Fostering team spirit to enable collaboration and alignment to project goals and outcomes. 3) Awards and recognition to ensure people feel valued for their contribution.

At Coforge, we celebrate our people, all around the year through global engagement campaigns - Coforge Talent Hunt showcasing an extraordinary display of enthusiasm, passion, and talent; Coforge Day: celebrating our annual day recognizing excellence and contributions, Bring Your Kids to Work, festivals, employee wellbeing initiatives.

Upskilling&ReskillingthroughCapability Development

Coforge's systematic upskilling and reskilling strategy builds a future-ready workforce through a global framework of agile learning academies. These academies employ curated, cutting-edge content and flexible hybrid methodologies to ensure continuous employee development underpinned by the Xcellerate Competency Framework.

Our global network of agile learning academies employs curated, cutting-edge content and flexible hybrid methodologies to ensure continuous employee development. This is facilitated through diverse learning methods such as anytime-anywhere solutions, Action Learning Projects, sandbox environments, benchmarks St assessments, virtual and blended programs, e-learning platforms, and OEM partnerships. Our overarching vision is to design and deliver a scalable global learning strategy that is integral to business success and ensures the future skills of our 30,000+ strong workforce.

Xcellerate is a strategic internal talent marketplace designed to proactively address skill gaps by mapping demand to precise Role Skill Combinations (RSCs). This platform features a scalable and customized inventory of skills and certifications, facilitating continuous workforce development through targeted training and certification programs, alongside real-time self-development resources. Xcellerate identifies technical, functional, and behavioral skills for each role, assesses current capabilities, and implements upskilling initiatives.

The framework encompasses over 800 unique RSCs linked to 1200+ skills and behavioral competencies with associated learning pathways. Assessments maintain contextual relevance, and Individual Development Plans (IDPs) personalize employee growth.

iEnable solution is the central training hub for all technical, functional, and domain learning, strategically ensuring our employees possess contextually relevant skills and maintain a competitive advantage. Our dedicated training team collaborates closely with the business to develop and deliver role-specific learning solutions for our global workforce. These initiatives encompass comprehensive upskilling and crossskilling programs for new hires and existing staff, alongside professional accreditation through industry-recognized certifications, equipping our 30,000+ professionals to excel in the evolving technology space:

1. Expanding Learning Access: strategically broadens learning opportunities beyond formal training through alliances with leading external enterprise learningand OEM partners, ensuring continuous access to diverse resources.

2. Executive-Led Learning Culture: executives and leaders actively champion learning at Coforge by strategizing and driving key initiatives for capability enhancement across the firm.

3. Business-Driven Capability Enhancement: The business directly facilitates targeted learning interventions in critical areas like QE, Data & Al, Experience, Software Engineering, Intelligent Automation, CIMS, Salesforce, MuleSoft, and Pega & Appian. These initiatives focus on upskilling technical employees in niche technologies, domains, and client-specific requirements, directly supporting strategic learning goals.

4. Next-Gen Technology capabilities build: 95% traction of Al Spark-foundational learning on fundamentals of Al, Gen Al & LLMs; 12K+ colleagues trained on GitHub Competency in our endeavor to train our colleagues on Gen Al Tech, including GitHub fundamentals, prompt engineering and GitHub Copilot. 2600+ colleagues trained and tested on Microsoft Technologies - Coforge Certified MS Professional, Coforge curated training on MS Technologies.

5. Proactive Capability Enhancement for Laterals (PACE):

learning calendar developed collaboratively with HBUs, provides a focused and efficient L&D plan for lateral hires. It strategically upskills and cross-skills them on market- ready technologies relevant to client projects.

6. Graduate Engineering Training (GET): Coforge continues to provide robust support for newly hired campus graduates through our comprehensive Boot Camp program, aligned with RDG projections.

7. Building Professional Credibility through Certifications:

strategically investment in building professional credibility through industry-recognized certifications in Azure, AWS, GCP, SAFe Agile, Scrum, POPM Salesforce, ISTQB, and Pega Appian, resulting in over 8,000 certified resources and a future-ready workforce. This includes targeted upskilling drives with OEM partners like Microsoft.

8. Strategic Learning Partnerships: maximize learning access and relevance through strategic partnerships and learning partner portals, including Percipio, Udemy, Microsoft ESI, AWS, GCP, AIT, LOMA, ISTQB, Unqork, Appian, ITIL, and MuleSoft. These alliances are directly aligned with stakeholder requests, encompassing platforms like Decisions Portal, D&A technology portals, and Thought Machine.

9. Dedicated Domain Training: dedicated, self-paced domain-specific learning programs across key verticals like BFS, Insurance, Travel & Hospitality, Retail, and Healthcare via learning portals such as Percipio and Udemy, fostering continuous improvement.

10. Scalable Learning Academies for Upskilling&Reskilling:

strategically designed Learning Academies, developed in collaboration with HBUs, have empowered 20,000+ learners to rapidly enhance their skills in relevant and future-focused technologies.

11. "TECH BYTES": Agile Microlearning: delivers flexible and convenient learning experiences through concise (under 10 minutes), SME-validated video modules on Percipio, catering to on-the-go learning preferences. Three learningjourneys have been launched with 10,000+ learner accesses.

12. "Tech4Tomorrow": Leadership Foresight Series: talk series equipped 3,500+ global leaders at Coforge with insights into Talent, Technology, and Transformation in 2025. Internal and external experts facilitated panel discussions and fireside chats to prepare mid and senior- level managers for Industry 4.0 in alignment with the firm's strategy.

LEAD (Learning Experiences Accelerating Development) program strategically develops leadership, behavioral, and human skills through a diverse portfolio of impactful learning solutions and initiatives. Utilizing an experiential and results-oriented approach, LEAD enables employees, managers, and leaders to internalize new behaviors and cultivate crucial attitudes.

Core offerings encompass Virtual Instructor-Led Training, flexible Anytime Anywhere Learning, and insights from Subject Matter Experts. Key initiatives include:

• Strategic Learning Playbook: A roadmap for building behavioral, cultural, and leadership excellence.

• Structured Assimilation Programs: Quarterly programs, including Embark 365 and a dedicated Senior Leaders New Hire Assimilation Program, facilitating effective integration.

• ELEVATE Leadership Journey: A focused 3-month program empowering middle managers in self, team, and business alignment.

• Customized LPOD Solutions: Blended learning programs tailored to specific business challenges.

• Global Collaboration Enhancement: A cultural intelligence tool for effective cross-border teamwork.

• Comprehensive Compliance Training: Covering critical areas like Global Compliance and Prevention of Sexual Harassment.

• Engaging Learning Culture Initiatives: I ncluding Masterclass marathons, interactive challenges, and skill benchmarks.

• Skill Assessment & Practice: Skill Benchmarking and the CAISY Al Conversation Simulator for masteringfundamental skills such as communication, delegation, conflict resolution, motivation, and leadership.

Inclusion Academy

Coforge embeds Equity, Inclusion, and Belonging (EIB) at the core of its business. Guided by our motto, "Bring Your True Self to Work," we cultivate an inclusive environment through targeted initiatives including the Coforge For All (Inclusion Academy) on Percipio, Leadership Advocacy, and the InclusiLearn Habit Calendar. We maintain open communication via our Intranet SharePoint, celebrate diverse employee journeys through the Employee Spotlight Series, and empower women through the lAmRemarkable program. Our commitment extends to holistic employee well-being with comprehensive mental and physical health programs, alongside global inclusion celebrations like International Women's Month and Pride Month. Notably, our flagship EmpowHER program provides focused learning, development, and well-being resources to enable the professional and personal success of our women employees.

BPS L&OD Initiatives Introduction;

Recognizing the shift towards hybrid work models, the BPS L&OD team has strategically adapted its learning interventions to include both face-to-face and hybrid delivery. Furthermore, a revised Learning Needs Identification Survey has been launched to capture role-specific requirements across employee groups. The insights from this survey will serve as the foundation for the Skill Up! calendar and future learning initiatives, guiding the upcoming year's employee development journey.

Key Programs in FY 25:

• OnTrac Star Certification Program (Team Leaders): This intensive 27-hour, externally facilitated program combined classroom learning with practical projects to enhance Team Leaders' operational and people management capabilities. Its design facilitated the immediate application of learned concepts in daily work, providing a framework for higher management to observe implementation and offer targeted support.

• Customer First Program: This customized, client-centric onboarding program provided new team members on the process with critical insights into global workplace dynamics, culture and values, standard client interaction protocols, and strategies for enhancing client service through effective messaging.

• Train the Trainer Certification (Process Trainers): This internally developed 10-hour program aimed to elevate the training skills of Process Trainers by introducing contemporary methodologies and principles. Key modules included the PASS technique for presentation structure, the 7Cs of communication, learner motivation strategies, effective probing techniques, audience management, and feedback models like STAR, ultimately improving training delivery and knowledge retention.

• Tangibles and Intangibles of Business Finance (Leadership Team): This program provided a comprehensive understanding of business finance from diverse perspectives, fostering synergy between sales and marketing for the leadership team (18 attendees). It explored the critical relationship between operational efficiency and shareholder value, encouraging participants to develop an entrepreneurial mindset focused on business growth.

• Play to Win (Managers and Above): This highly successful, theatre-based management development program leveraged a novel, learner-centric, and experiential "learning by doing" methodology, resulting in high engagement and impactful learning outcomes.

• Beyond VLOOKUP: MS Excel Training (Operations): Addressing a consistent operational need, the BPS L&OD team developed Basic and Advanced Level MS Excel training programs under the "Beyond VLOOKUP" banner. Offered monthly through the "Skill Up!" calendar, this program is delivered virtually and in-person based on business requirements.

• HR Excellence Program (BPS HR Team): This pioneering, customized program for the BPS HR team focused on critica I skills such as Business Storytelling - an effective technique for data presentation to stakeholders to maximize impact and facilitate collaboration. The curriculum was tailored to current HR trends and organizational specifics.

Annual Learning Investment Snapshot FY25

Training Category	Hours of Training
Safety, Security & Diversity & Induction related	143,535
Behavioural, Leadership & Management	64,393
Technical, Domain & Functional	1,190,456
Total Learning Hours	1,398,384

My Voice - Employee Engagement Survey FY2025

Coforge utilizes its annual "My Voice" Employee Satisfaction Survey to gather actionable insights into engagement and satisfaction, directly informing workplace environment enhancements.

The FY25 "My Voice" survey achieved an exceptional 85% participation rate, demonstrating strong employee trust and commitment to Coforge's positive work culture. This engagement is reflected in increased Satisfaction and Commitment Scores, both reaching 81% in FY25, up from 80% in FY24.

The FY25 "My Voice" EES identified key engagement drivers as Basic Needs (91%), Teamwork (89%), Manager Support (83%), Company Brand & Image (84%), Training (83%), and Communications (83%). Notably, all drivers of engagement showed positive growth compared to the previous year, underscoring the effectiveness of our efforts to cultivate a supportive and engaging environment.

Demonstrating consistent excellence, Coforge has been certified as a Great Place to Work for the fourth consecutive year and recognized among India's Best Workplaces in IT St IT- BPM 2024 - Top 100 for the third consecutive time.

Some of the key recognitions received by Coforge on its people practices are:

1) Most Preferred Workplace 2024-25 in association with India Today and Business Standard

2) Most Preferred Workplaces for Women 2024-25

3) One of the Best Organizations for Women 2025 by ET NOW

4) Special impact award - Inclusion learning initiatives

Prevention of Sexual Harassment of Women at the Workplace

The Company has a policy on Prevention of Sexual Harassment of Women at the workplace, in line with The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. In accordance with the Act, Internal Complaints Committee (ICC) has been set up and contact details of ICC displayed prominently in all units of Coforge

The Company believes in providing all employees a congenial work atmosphere, which is free from discrimination and harassment, without regard to caste, religion, marital status, gender, sexual orientation, etc. During the year, the Company conducted various awareness programs and workshops at all locations. Employees are required to attend compulsory awareness and training program on POSH on our virtual learning platform - Percipio. Company has conducted orientation or training sessions for the ICC members and the HR team.

During the year 2024-25,08 complaints has been reported, and all of them were upheld and actions were taken in accordance to POSH Act. There are no pending cases for action.

The Company duly resolved these complaints within 90 days in accordance to POSH Act.

The Company has complied with the applicable provisions relating to the Maternity Benefits Acts, 1951 during the financial year 2024-25.

Awards And Recognitions

The Company has been recognized in several important ways at the national and global levels, related to its leadership in specific industry verticals, and its robust HR practices.

• Coforge bagged the Silver award at the Economic Times Human Capital Awards 2024 for "Excellence in Creating a Culture of Continuous Learning and Upskilling".

• Coforge was recognized for "Learning & Development", "Employee Engagement", and "Corporate Social Responsibilities" at the 5th Edition of CHRO Vision & Innovation Summit & Awards.

• Coforge won the "Skillsoft Special Impact Award for DEI (2024)" for the second consecutive year.

• Coforge was recognized with the ServiceNow 2024 Emerging Industry Partner of the Year - Worldwide award.

• Coforge received the "Partner Excellence Award" for Intelligent Automation at PegaWorld iNspire 2024.

• Coforge St St One of our largest insurance clients received the "Duck Creek Standard of Excellence" award 2024.

• Coforge certified as a "Great Place To Work", fourth time in a row.

• Coforge was recognized among "Most Preferred Workplaces" by Marksmen Daily, for the third consecutive year.

• Coforge won the MuleSoft Top Partner of the Year" Award (Europe) 2024.

• Coforge was recognized for its exemplary commitment towards Sustainability by ET Edge at the Times Now Sustainable Organizations 2024.

• Coforge won the Gold award for Excellence in Employee Engagement Strategy at the BW People HR Excellence Awards 2024.

• Coforge ranked 32 in BW India's Most Sustainable Companies (IMSC) 2024.

• Coforge was felicitated as one of the Best Tech Brands of 2024 at the 5th edition of ET Now Best Tech Brands.

• Sudhir Singh, CEO & Executive Director, Coforge, was awarded the "Intrapreneur of the Year Award 2024" by Entrepreneur magazine.

• Coforge recognized as one of the Most Preferred Workplaces for Women 2024-2025

• Coforge recognized among India's Best Workplaces in IT & IT-BPM 2024, 3rd time in a row by Great Place to Work? Institute India.

• Coforge was recognized at the 2nd edition of the Financial Express FUTECH Awards in the Most Innovative Use of Al category.

• Coforge became the winner of the Appian Europe 2024 Partner Impact and Excellence—Industry Award for Public Sector!

• The Coforge Public Library was honored as the Best Education Initiative for the General Public of the Year, at the prestigious Indian CSR Awards 2024.

• Coforge won the Rising Star-New Partner of the Year award at the Global Perforce Conference 2024

• The Hyderabad Campus was honored with LEED Gold Certification for Sustainability Excellence.

• Coforge has successfully achieved the ISO/IERs. 27701 certification from The British Standards Institution (BSI).

• Coforge recognized as one of the 'Best Organisations for Women 2025' for demonstrating excellence in fostering a

workplace culture that empowers women and promotes gender equality.

Analysts Accolades

• Everest recognized Coforge as a Leader in the Insurance IT Services PEAK Matrix? Assessments 2024 for Duckcreek.

• NelsonHall positioned Coforge as a Leader within the Wealth & Asset Management Services NEAT Overall, for Al & Analytics Services, Cloud Migration Services, and Process Automation Services.

• NelsonHall positioned Coforge as a Leader within the Salesforce Services NEAT 2024 in the MuleSoft Services segment.

• NelsonHall positioned Coforge as a Leader in the End- to-End Cloud Infrastructure Management Services 2024 NEAT Overall, for AWS Capabilities, Microsoft Azure Capabilities, Cloud Management Services, and Cloud Orchestration Services.

• Zinnov Zones positioned Coforge in the Leadership Zone across four categories of Zinnov Zones - Generative Al Services, Banking, Insurance, and Overall IA Services category for mid-tier service providers.

• Everest recognized Coforge as a Leader in the Low-code Application Development Services PEAK Matrix? Assessment 2024 - Focus on Appian.

• Zinnov Zones positioned us in the Leadership Zone in the Zinnov Zones for Digital Engineering Services 2024 for Digital Engineering Services, Experience Engineering Services, Data St Al Services, and Enterprise Software Services, all for Small St Medium Service Providers.

• Everest Group positioned Coforge as a Leader in Everest Group Digital Transformation Services for Mid-market Enterprises PEAK Matrix Assessment 2024.

• Everest Group positioned us as a Leader in Quality Engineering Services for Mid-Market Enterprises PEAK Matrix? Assessment 2024

• QKS Group recognized Coforge as a Technology Leader in the SPARK Matrix: Managed Cloud Services Q4, 2024.

• ISG recognized Coforge as a Leader in the Insurance Services 2024' ISG Provider Lens Study - North America.

• QKS Group recognized Coforge as a Leader and one of the top 5 players in the SPARK Matrix -Data Management and Analytics Services, 2024, Quadrant Knowledge Solutions.

• NelsonHall recognized Coforge as a Leader within the IT Infrastructure Transformation: Cognitive St Self-Healing NEAT - in 3 market segments including Overall, Al Capabilities, Server-Centric Services Capabilities.

• QKS positioned us as a Leader in Quadrant Knowledge Solution's SPARK Matrix™ for Digital Banking Services, 2024 report.

• ISG positioned us as a Leader in Continuous Testing Specialist in the ISG Provider Lens™ Next-Gen ADM Services 2024 for the US region.

• ISG positioned Coforge as a Leader in Managed Services- Mid Market for UK region in the ISG Provider Lens™ Multi Public Cloud Services 2024

• NelsonHall recognized us as a Leader in Overall QE, RPA-based automation, Al-Based Analytics & Automation, GenAI Use Cases, and Application Migration to Cloud Testing market segments in NelsonHall's NEAT assessment report titled "NEAT Quality Engineering 2024: Test Automation and GenAI."

• ISG positioned Coforge as a Leader in Agile App Dev Projects in the ISG Provider Lens™ Next-Gen ADM Services 2024 for the US region.

• Nelson Hall positioned Coforge as a High-Achiever in the Marketing Cloud Services segments in Salesforce Services 2024 NEAT.

• Nelson Hall recognized Coforge as a High-Achiever in the Professional Services market segment in the Market Assessment on Transforming Core Banking Services.

• Everest Group recognized Coforge as a Major Contender and Star Performer in Capital Markets IT Services PEAK Matrix? Assessment 2024

• Whitelane Research recognized Coforge as an Exceptional Performer in the general satisfaction category in the 2024 IT Sourcing Study UK. Coforge ranked #1 (shared) in Digital Transformation, #2 in General Satisfaction, #2 in Application Services and #3 (shared) in Cloud & Infrastructure Services.

• Everest positioned Coforge as a Major Contender in Insurance IT Services PEAK Matrix? Assessments 2024 for Guidewire.

• ISG recognized Coforge as a Product Challengerfor its market standing in the 'Private/Hybrid Cloud - Data Center Services 2024' ISG Provider Lens™ Study

• Everest recognized Coforge as a Major Contender in the Insurance Intermediaries Services PEAK Matrix? Assessment 2024

• Everest recognized Coforge as a Major Contender in the Low-code Application Development Services PEAK Matrix? Assessment 2024 - Focus on Outsystems.

• Everest recognized Coforge as a Major Contender in the Low-code Application Development Services PEAK Matrix? Assessment 2024 - Focus on Power Apps.

• Everest positioned Coforge as a Major Contender in the Life Sciences Digital Services for Mid-market Enterprises PEAK Matrix? Assessment 2024

• Everest positioned Coforge as a Major Contender in the Capital Markets IT Services PEAK Matrix? Assessment 2024.

• Everest recognized Coforge as a Major Contender in the Lending Services Operations PEAK? Matrix Assessment 2024.

• Avasant recognized Coforge as an Innovator in the Travel, Transportation, and Hospitality Digital Services 2024 RadarView.

• Zinnov Zones positioned us in the Execution Zone for Retail Si CPG in the Zinnov Zones for Intelligent Automation (IA) Services 2024 study

• Quadrant Knowledge Solutions positioned Coforge as a Major Contender in the Quadrant SPARK Matrix "SPARK Matrix™: Artificial Intelligence Services, 2024.

• ISG recognized Coforge in the 'Retail and CPG Services 2024' ISG Provider Lens™ Study - U.S. as a Product Challenger in Business Transformation Services and Digital Innovation Services

• ISG recognized Coforge as a Product Challenger in the Generative Al Services 2024' ISG Provider Lens Study

• ISG recognized Coforge as a Product Challenger in the Advanced Analytics and Al Services 2024' ISG Provider Lens Study

• ISG recognized Coforge as a Product Challenger, Market Challenger, and Contender in the ISG Provider Lens™ Multi Public Cloud Services 2024.

• ISG recognized Coforge as a Product Challenger in the 'Intelligent Automation Services 2024' ISG Provider Lens Study.

• ISG recognized Coforge as a Product Challenger in the Healthcare Digital Services 2024' ISG Provider Lens Study.

• ISG recognized Coforge as a Product Challenger in the AWS Ecosystem Partners 2024' ISG Provider Lens Study.

• Nelson Hall recognized Coforge as a Major Player in the Al Si Analytics Services and Operation Services market segments in the Market Assessment on Transforming Core Banking Services

• ISG recognized us as a Product Challenger in the ISG Provider Lens™ Digital Engineering Services 2024 study across four quadrants in the US (Design Si Development, Integrated Customer/User Engagement, Platform Si Application Services, and Intelligent Operations) and one quadrant in Europe (Platform Si Application Services).

• Zinnov Zones positioned us in the Established Zone in the Zinnov Zones for Digital Engineering Services 2024 for Overall Digital Engineering Services, Overall Experience Engineering Services, Overall Data Si Al Services, and Overall Hyperscalers Services.

• Zinnov Zones positioned us in the Execution Zone in the Zinnov Zones for Digital Engineering Services 2024 for Overall Enterprise Software Services, Overall Consumer Software Services, Software Platform Engineering Services for Small Si Medium Service Providers, and Medical Devices.

• Everest positioned us as a Major Contender in Quality Engineering (QE) Services for Al Applications and Systems Everest Group PEAK Matrix? Assessment 2024

• Everest Group positioned Coforge as a Major Contender in Salesforce Services PEAK Matrix? Assessment 2024

• Avasant recognized Coforge as a Challenger in the Banking Process Transformation 2024 RadarView.

• Everest Group positioned Coforge as a Major Contender in Life & Annuity (L&A) Insurance IT Services PEAK Matrix? Assessment 2024.

• NelsonHall recognized us as a Major Player in the SAP Testing market segment in NelsonHall's NEAT assessment report titled "NEAT Quality Engineering 2024: Test Automation and GenAI."

• ISG recognized us in the ISG Provider Lens™ for Life Sciences Digital Services, 2024 for the Global region as a Contender in Clinical Development, Patient Engagement, Manufacturing & Supply Chain, and Pharmacovigilance & Regulatory Affairs.

• Avasant positioned Coforge as a Challenger in the Applied Al Services 2024 RadarView.

• Avasant positioned Coforge as a Disruptor in the Mortgage Business Process Transformation 2024 RadarView Survey.

• Avasant positioned Coforge as a Disruptor in the Data Center Managed Services RadarView - Survey 2024.

• Nelson Hall recognized Coforge as an Innovator within the Overall, Process Automation Services, and Cloud Migration Services market segments in the Market Assessment on Transforming Core Banking Services.

• Forrester recognized and listed Coforge in the Application Modernization and Multicloud Managed Services Landscape, Q4 2024.

• HFS positioned Coforge as a Disruptor in the Azure Ecosystems Horizons evaluation 2024.

• HFS positioned Coforge as a Disruptor in the Best Service Providers for Commercial Banking Horizons 2024

• Avasant positioned Coforge as a Disruptor in the Intelligent Automation Services 2024-2025 RadarView.

• Avasant recognized Coforge as a Challenger in the Data Management and Advanced Analytics Services 2024 RadarView Survey.

• Avasant positioned Coforge as a Disruptor in the Life and Annuities Insurance Digital Services 2024-2025 RadarView..

• ISG recognized Coforge as a Contender in the Power & Utilities Services 2024' ISG Provider Lens Study.

• Avasant positioned Coforge as a Disruptor in the Blockchain Services 2024 RadarView.

• NelsonHall recognized Coforge as an Innovator in the Cognitive Service Desk Capability market segment in the IT Infrastructure Transformation: Cognitive & Self- Healing NEAT.

• ISG positioned us as a Contender in three quadrants in Europe (Design & Development, Integrated Customer/User Engagement, and Intelligent Operations).

• Zinnov Zones positioned us in the Emerging Zone in the Zinnov Zones for Digital Engineering Services 2024 for Generative Al Engineering Services.

• Zinnov Zones positioned us in the Breakout Zone in the Zinnov Zones for Digital Engineering Services 2024 for 0 vera II Software Platform Services.

• ISG positioned Coforge as a Contender in Application Quality Assurance in the ISG Provider Lens™ Next-Gen ADM Services 2024 for the Europe region.

• Avasant positioned us as a Challenger in Avasant Financial Services Digital Services 2024 RadarView.

• Avasant positioned Coforge as a Challenger in Digital CX Services 2024 RadarView™.

• Avasant positioned Coforge as a Challenger in United Kingdom (UK) Digital Services 2024 RadarView™.

• Avasant positioned Coforge as a Challenger in the Insurance Business Process Transformation 2024 RadarView™.

• Avasant positioned Coforge as a Disruptor in Property and Casualty Insurance Digital Services 2024 RadarView™.

• Avasant positioned Coforge as a Challenger in Avasant Digital Workplace Services 2024 RadarView™.

• Avasant positioned Coforge as a Challenger in Freight and Logistics Digital Services 2024 RadarView™.

• Avasant positioned Coforge as a Challenger in Banking Digital Services 2024 RadarView™.

• Everest Group positioned Coforge as an Aspirant in Enterprise Immersive Experience Services PEAK Matrix? Assessment 2024.

• Forrester listed Coforge in The Modern Application Development Services Landscape, Q3 2024.

• Forrester listed Coforge in The Oracle Services Landscape, Q3 2024.

• Forrester listed Coforge in The SAP Services Landscape, Q3 2024.

• I DC listed Coforge in the I DC Market Glance: Digital Engineering and Operational Technology Services, 3Q24.

• IDC listed Coforge in the IDC Market Glance: Enterprise Intelligence Services, 3Q24.

• HFS listed Coforge as a Disruptor in HFS Horizons: AADA Quadfecta Services for the Generative Enterprise™, 2024.

• Avasant recognized Coforge as a Challenger in the Gulf Cooperation Council (GCC) Region Digital Services 2025 RadarView™

Alliances, partnerships, and solutions offerings

• Coforge enhanced collaboration with Microsoft to boost developer productivity; trained over 10,000 developers on GitHub Copilot

• Coforge launched the Generative Al Center of Excellence based on its Al framework on the ServiceNow platform.

• Sabre launched a strategic collaboration with trusted engineering partner Coforge to accelerate pace of product innovation and delivery

• Coforge and Intellect forged a strategic partnership to transform global banking and financial services industry

• Coforge partnered with ACORD Solutions Group to drive adoption of modernization capabilities in the global insurance industry

• Coforge launched ENZO: An innovative sustainability solution powered by Salesforce

• Coforge announced the launch of Copilot Innovation Hub in collaboration with Microsoft to accelerate enterprise adoption of Generative Al

• Coforge in partnership with Fiorano introduced ISO 20022 Compliance as a Service (ICaaS)

Acknowledgements

The Board of Directors would like to take this opportunity to place on record its appreciation for the committed services and contributions made by employees of the Company during the year. In addition, the Directors wish to thank the Company's customers, vendors, bankers Stfinancial institutions, all government & non- governmental agencies, and other business associates for their continued support. The Directors acknowledge and appreciate the support and confidence of the Company's shareholders and remain committed to enabling the Company to achieve its growth objectives in the coming years.

For and on behalf of the Board of Directors Sd/-

O P Bhatt

Chairperson

DIN: 00548091

Place: Mumbai

July 23, 2025