Zensar reports 3.8% sequential quarter revenue growth in Q2 FY 18 Digital services continue to grow and are at 36.8% of revenue

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1 Zensar reports 3.8% sequential quarter revenue growth in Q2 FY 18 Digital services continue to grow and are at 36.8% of revenue Pune, India, November 3, 2017: Zensar Technologies, a leading digital solutions and technology services company that specialises in partnering with global organisations across industries on their Digital transformation journey, announced its audited consolidated financial results for its second Quarter ending September 30, 2017 of the fiscal year Financial Highlights: The Company reported quarter on quarter revenue growth of 3.8% at close of Q2 FY18 from USD M to USD M. The PAT for the quarter grew by 33.1% from 7.3 USD M to 9.7 USD M. Digital services continue to grow and have moved up 5.3% sequentially from a 36.3% of revenue contribution in Q1 FY 18 to 36.8% of Q2 FY 18 revenue. Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar Technologies said, The Company continues to have a razor sharp focus on its Digital business and has kept up the growth momentum in the second Quarter of fiscal year Zensar s proprietary Return on Digital platform with its new suite of innovative solutions, has continued to help the company leverage new wins, with half of the quantum of wins in Digital services. Key regions and industries have performed well this Quarter and we continue to retain focus on our strategic thrust areas, Sandeep added. Manoj Jaiswal, Chief Financial Officer, said, "With Zensar now Living Digital internally as well, our ability to manage the business effectively has improved substantially. This coupled with our significant focus on cost and productivity improvement has not only helped us negate the impact of wage increase but has also helped us improve our gross margins by 118 bps. Significant Wins Q2 FY 18: The Company has continued to report significant new wins, with 50% of new clients added in Digital services. Significant new wins are listed here: A. Digital Wins Experience Design services: for one of the leaders in Health Cash plans industry in the UK Market; a global leader in online trading; a company that focused on the creation of multimedia and creativity software products, and more recently in rich internet application software development; a research and insights services deal for a UK based company which operates two significant vehicle rental brands in Europe, Middle East, Africa and Asia. Digital Commerce deals for retail enterprises: a multi-year, multi-million deal for the largest specialty retailer of men's apparel, with operations throughout the US and in London; a chain of beauty stores in the United States which carries cosmetics and skincare brands, men's and women's fragrances, and haircare products; an American corporation based in Wisconsin that formulates and packages synthetic lubricants and filters. Analytics: a multi-million deal with an American multinational technology conglomerate that develops, manufactures and sells networking hardware, telecommunications equipment and other high-technology services and products; an American energy company that designs and manufactures crystalline silicon photovoltaic cells and solar panels. Automation: a Robotic Process Automation deal for a South African financial services group headquartered in Cape Town, 'The Vinci ' automation deal for one of North America's leading airlines. Digital Testing: a multi-million, multi-year deal for one of the leaders in the financial solutions industry in Africa; a multi-year Agile Testing deal for one of the industry leaders in risk mitigation; a digital testing deal for an investment advisory, portfolio management, securities company.

2 B. Traditional Services Wins An Oracle EBS deal for an American company headquartered in New Jersey that provides and services voice communication systems for financial companies; an Oracle EBS deal for an American Company that manufactures and distributes analytical instruments and reagents used to test the quality of water and other liquid solutions, an Oracle EBS deal for an American animation studio based in Glendale, California which produces animated feature films, television programs and online virtual games, an Oracle EBS deal for a supplier of critical systems and components to the aerospace and defence markets An application maintenance deal for one of the world's biggest developers and suppliers of online Microgaming based in South Africa; an Application Support and Enhancement deal for an international investment, savings, insurance, and banking group in South Africa; an application support and maintenance deal for a non-profit organisation in the US specialising in alternative dispute resolution SAP implementation for a global leader in pharmaceutical manufacturing; an SAP implementation deal for a leading supplier of biopharmaceutical and human plasma products C. Corporate Excellence in Q2 FY 18: Zensar named in ISG Provider Lens Quadrant Report ISG Application Development and Maintenance Services Report Zensar named Major Contender in Everest Group Workplace Services Market Trends and PEAK Matrix Assessment Zensar named in new ISG research Digital Workplace Services Archetype Report Zensar named in Everest Group IT Infrastructure Automation Market Update and PEAK Matrix Assessment for Solutions (Focus on IT Service Providers) Zensar named in Gartner Digital Commerce Vendor Guide Zensar mentioned in Gartner Competitive Landscape : Partnering with Third Party Maintenance Providers for Data Center and Network Maintenance Cost Optimization Zensar launches next generation Cloud management offerings with Cisco s Cloud Center Capabilities Note: All numbers are as per the Ind-AS reporting standard

3 Q2 FY Revenue and profitability snapshot (US$) Particulars USD Mn Q2 FY18 INR Cr Growth Q-o-Q Y-o-Y USD INR CC USD INR CC Revenue $ % 3.5% 3.3% 3.1% (1.0%) 2.3% EBITDA $ % 18.9% (16.9%) (20.2%) EBIT $ % 26.4% (24.0%) (27.0%) PAT $ % 32.8% (7.3%) (11.0%) Q2 FY Revenue Growth in Constant Currency Particulars Segments Q2 FY17-18 QoQ Consolidated For the Company 3.3% US 0.5% Geography Europe 3.3% Africa 8.7% RoW 67.7% Application Management Services 5.2% Services Infrastructure Management (5.1%) Maintenance (7.3%) Services (3.6%) Manufacturing 3.4% Industry Retail and Consumer Services 5.4% Financial Services 5.5% Emerging (21.5%)

4 Performance Highlights

5 Income Statement Income Statement (USD Mn) Q2 FY 17 FY 17 Q1 FY 18 Q2 FY 18 Operating revenue Sequential Growth 1.9% 3.1% 3.8% Year-Over-Year Growth -0.3% 1.5% 1.2% 3.1% Cost of revenue Gross profit Gross profit % of revenue 30.1% 29.3% 27.6% 28.8% Sequential Growth 5.3% 2.5% 8.2% Year-Over-Year Growth -7.6% -5.2% -4.0% -1.4% Sales and marketing expenses General and administration expenses Operating expenses % of revenue 15.6% 16.8% 17.4% 17.2% Other operating income Earnings before interest, tax, depreciation and amortization (EBITDA) EBITDA % of revenue 14.7% 12.7% 10.3% 11.8% Sequential Growth 7.4% 33.7% 19.2% Year-Over-Year Growth -10.5% -14.1% -25.1% -16.9% Depreciation and amortisation Earnings before interest and tax (EBIT) EBIT % of revenue 13.0% 11.1% 7.8% 9.6% Sequential Growth 6.3% 29.7% 26.7% Year-Over-Year Growth -7.9% -11.8% -36.2% -24.0% Interest Exchange Gain/(Loss) Other income Profit before tax % of revenue 13.4% 11.4% 9.6% 11.4% Sequential Growth -6.8% 273.1% 23.2% Year-Over-Year Growth -19.9% -18.6% -33.7% -12.4% Provision for taxation Profit after tax (before minority interest) % of revenue 9.4% 7.8% 6.5% 8.4% Minority interest Profit after tax Profit after tax % of revenue 9.1% 7.7% 6.4% 8.2% Sequential Growth -5.1% 374.8% 33.1% Year-Over-Year Growth -22.9% -21.0% -33.9% -7.3%

6 Income Statement (INR Mn) Q2 FY 17 FY 17 Q1 FY 18 Q2 FY 18 Operating revenue 7,703 30,556 7,367 7,626 Sequential Growth 2.0% -0.9% 3.5% Year-Over-Year Growth 2.7% 4.0% -2.5% -1.0% Cost of revenue 5,388 21,603 5,334 5,432 Gross profit 2,316 8,953 2,032 2,194 Gross profit % of revenue 30.1% 29.3% 27.6% 28.8% Sequential Growth 5.4% -1.5% 8.0% Year-Over-Year Growth -4.8% -2.8% -7.5% -5.3% Sales and marketing expenses 559 2, General and administration expenses 646 2, Operating expenses 1,204 5,135 1,285 1,309 % of revenue 15.6% 16.8% 17.4% 17.2% Other operating income Earnings before interest, tax, depreciation and amortization (EBITDA) 1,129 3, EBITDA % of revenue 14.7% 12.7% 10.3% 11.8% Sequential Growth 7.5% 28.6% 18.9% Year-Over-Year Growth -7.8% -11.9% -27.8% -20.2% Depreciation and amortisation Earnings before interest and tax (EBIT) 1,001 3, EBIT % of revenue 13.0% 11.1% 7.8% 9.6% Sequential Growth 6.4% 24.8% 26.4% Year-Over-Year Growth -5.1% -9.5% -38.6% -27.0% Interest Exchange Gain/(Loss) Other income Profit before tax 1,033 3, % of revenue 13.4% 11.4% 9.6% 11.4% Sequential Growth -6.7% 258.8% 22.9% Year-Over-Year Growth -17.5% -16.4% -36.1% -15.8% Provision for taxation 306 1, Profit after tax (before minority interest) 728 2, % of revenue 9.4% 7.8% 6.5% 8.4% Minority interest Profit after tax 704 2, Profit after tax % of revenue 9.1% 7.7% 6.4% 8.2% Sequential Growth -5.1% 356.6% 32.8% Year-Over-Year Growth -20.6% -18.9% -36.3% -11.0%

7 Other Metrics Q2 FY 17 FY 17 Q1 FY 18 Q2 FY 18 Revenue By Service Offering Application Management Services 77.3% 78.5% 81.5% 83.1% Infrastructure Management Services 22.7% 21.5% 18.5% 16.9% Maintenance 6.1% 6.5% 6.3% 5.6% Services 16.6% 15.1% 12.1% 11.3% Revenue By Industry Manufacturing 51.4% 52.2% 48.7% 48.7% Retail and Consumer Services 25.9% 25.5% 28.3% 28.9% Financial Services 18.2% 18.4% 18.8% 19.2% Emerging 4.5% 3.9% 4.2% 3.2% Revenue By Geographical Segment US 74.9% 74.3% 74.4% 72.0% Europe 10.0% 11.6% 13.8% 14.2% Africa 8.7% 8.8% 9.5% 9.9% ROW 6.5% 5.3% 2.4% 3.9% Revenue By Project Type Fixed Price 50.2% 48.9% 47.9% 50.9% Time & Materials 49.8% 51.1% 52.1% 49.1% Constant Currency Operating revenue (Constant Currency mn) Sequential Growth 2.3% 3.6% 2.5% 3.3% Year-Over-Year Growth 2.3% 3.6% 1.7% 2.3% Constant Currency Growth By Service Offering (QoQ %) Application Management Services 1.5% 6.5% 1.8% 5.2% Infrastructure Management Services 4.2% -6.1% 5.4% -5.1% Maintenance -13.6% -11.6% 0.2% -7.3% Services 15.3% -3.0% 9.6% -3.6% Constant Currency Growth By Industry (QoQ %) Manufacturing -2.1% 0.5% -4.6% 3.4% Retail and Consumer Services 10.0% 21.8% 8.9% 5.4% Financial Services 1.8% 1.9% 9.3% 5.5% Emerging 14.6% -31.2% 27.5% -21.5% Constant Currency Growth By Geography (QoQ %) US 2.1% -2.0% 4.1% 0.5% Europe 3.0% 35.7% -0.9% 3.3% Africa 4.1% 11.6% 7.3% 8.7% ROW -0.9% 11.3% -31.7% 67.7%

8 Other Metrics Q2 FY 17 FY 17 Q1 FY 18 Q2 FY 18 Client Data Number of million dollar Clients (LTM Revenue) 1 Million dollar Million dollar Million dollar Million dollar Revenue from top clients Revenue- top 5 clients 38.9% 37.8% 34.9% 35.3% Revenue- top 10 clients 48.6% 45.8% 43.1% 43.6% Revenue- top 20 clients 59.1% 55.8% 54.5% 56.1% Repeat business % 80% 76% 76% 82% Number of active clients New clients added in the period Onsite : Offshore Revenue mix Onsite 66.0% 66.5% 62.5% 62.5% Offshore 34.0% 33.5% 37.5% 37.5% Utilization Utilization (excluding Trainees) 80.1% 79.6% 83.2% 85.9% Employee data Headcount Technical - Onsite 1,540 1,691 1,810 1,806 Technical - Offshore 5,699 5,739 5,779 5,674 Technical - BPO / Others Marketing Support (including trainees) Total 8,316 8,524 8,567 8,414 Gross employees added during the period 730 2, % of women employees 25.4% 25.6% 26.2% 26.0% Attrition Attrition 15.6% 15.4% 17.1% 15.4%

9 Other Metrics Q2 FY 17 FY 17 Q1 FY 18 Q2 FY 18 Exchange Rates Rupee Dollar Rate Period Closing Rate Period Average Rate Rupee Euro Rate Period Closing Rate Period Average Rate Rupee GBP Rate Period Closing Rate Period Average Rate Rupee ZAR Rate Period Closing Rate Period Average Rate Revenue By Currency Dollar 77.5% 75.9% 75.9% 74.3% Euro 1.5% 1.1% 1.2% 1.2% GBP 7.8% 10.0% 12.0% 12.2% ZAR 7.6% 7.6% 8.2% 8.8% Others 5.6% 5.4% 2.6% 3.4% Total 100.0% 100.0% 100.0% 100.0% Effective Tax Rate 29.6% 31.6% 29.2% 25.4% Accounts receivables (in days) Billed Unbilled Total Summary of Cash and Cash Equivalents Cash and Cash Equivalents (USD mn) Cash on hand Balances with Banks : In current accounts Deposit with original maturity of less than three months Other Bank Balances: Unpaid dividend accounts Total Investment in Mutual Funds

10 Other Metrics Q2 FY 17 FY 17 Q1 FY 18 Q2 FY 18 Summary of Debt Debt (USD mn) Short-term debt Long-term debt Total Outstanding Hedges USD Value Avg. Rate/ INR GBP Value Avg. Rate/ INR ZAR Value Avg. Rate/ INR Summary of Capex Capex (USD Mn) Earning Per Share (INR/share) Basic Diluted Shareholding Public Shareholding 51.7% 51.4% 51.3% 51.1% Promoter Shareholding 48.3% 48.6% 48.7% 48.9%

11 About Zensar ( Zensar is a leading digital solutions and technology services company that specialises in partnering with global organisations across industries on their Digital Transformation journey. A technology partner of choice, backed by strong track-record of innovation; credible investment in Digital solutions; assertion of commitment to client s success, Zensar s comprehensive range of digital and technology services and solutions enable its customers to achieve new thresholds of business performance. Zensar, with its experience in delivering excellence and superior client satisfaction through myriad technology solutions, is uniquely positioned to help them surpass challenges around running their existing business most efficiently, helping in their legacy transformation, and planning for business expansion and growth through innovative and digital ways. Follow Zensar via: Zensar Blog: Twitter: LinkedIn: Facebook: Catch our refreshed new website at: About RPG Enterprises ( Mumbai headquartered RPG Enterprises is one of India's largest industrial conglomerates. With over 15 companies in its fold, the group has a strong presence across core business sectors such as Infrastructure, Tyre, IT and Specialty. Established in 1979, RPG Enterprises is one of India s fastest growing business groups with a turnover in excess of Rs 21,000 crore. For any queries please feel free to reach out: PR Contacts (Global Headquarters - India): Lavanya Jayaram Chief Marketing Officer Zensar Technologies lavanya.jayaram@zensar.com Aradhana Prabhu Public Relations Zensar Technologies aradhana.prabhu@zensar.com Safe Harbor Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forwardlooking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorised use of our intellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.