COMPANY OVERVIEW Infosys Limited provides AI-first business consulting and technology services, to enable organizations to unlock AI value at scale. With over four decades of experience in managing the systems and workings of global enterprises, Infosys accelerates business transformation through its AI-first value framework, deep domain expertise, and unique ability to orchestrate innovations from its AI-native partner ecosystem. Infosys’s strategy is to be the navigator for its clients as they ideate, plan and execute on their journey to an AI-first future. Our vision is to build a globally respected organization delivering best-of-breed business solutions, leveraging technology, delivered by best-in-class people. We are guided by our value system which motivates our attitudes and actions. Our core values are Client Value, Leadership by Example, Integrity and Transparency, Fairness and Excellence (“C-LIFE”). Our primary geographic markets are North America, Europe, Rest of the World, and India, which generated 56.1%, 32.1%, 8.9% and 2.9% of our revenues in fiscal 2026 respectively. We serve clients in the following industries: financial services and insurance; retail, consumer packaged goods and logistics; communication; telecom original equipment manufacturer (“OEM”) and media; energy, utilities, resources and services; manufacturing; hi-tech; life sciences and health care. Our revenues grew from $16,311 million in fiscal 2022 to $20,158 million in fiscal 2026, representing a compound annualized growth rate of 5.4%. Our net profit grew from $2,968 million to $3,316 million during the same period, representing a compound annualized growth rate of 2.8%. Between March 31, 2022, and March 31, 2026, our total employees grew from 314,015 to 328,594, representing a compound annualized growth rate of 1.1%. A. HISTORY AND DEVELOPMENT OF THE COMPANY We were incorporated on July 2, 1981, in Pune, Maharashtra, India, as Infosys Consultants Private Limited, a private limited company under the Indian Companies Act, 1956. We changed our name to Infosys Technologies Private Limited in April 1992 and to Infosys Technologies Limited in June 1992, when we became a public limited company. In June 2011, we changed our name from Infosys Technologies Limited to Infosys Limited, following approval of the name change by our Board, shareholders, and the Indian regulatory authorities. The name change was intended to reflect our transition from a provider of technology services to a partner with our clients solving business problems by leveraging technology. We made an initial public offering of equity shares in India in February 1993 and were listed on stock exchanges in India in June 1993. We completed our initial public offering of American Depositary Shares (“ADSs”) in the United States in 1999. In August 2003, June 2005 and November 2006, we completed sponsored secondary offerings of ADSs in the United States on behalf of our shareholders. Each of our 2005 and 2006 sponsored secondary offerings also included a Public Offering Without Listing in Japan. In 2008, we were selected as an original component member of “The Global Dow”, a worldwide stock index made up of 150 leading blue-chip stocks. Following our voluntary delisting from the NASDAQ Global Select Market on December 11, 2012, we began trading of our ADSs on the NYSE on December 12, 2012, under the ticker symbol INFY. We were inducted into the Dow Jones Sustainability Indices in fiscal 2018. Refer to Note 2.20 “Related party transactions” in Item 18 of this Annual Report on Form 20-F for the list of our subsidiaries. The address of our registered office is Electronics City, Hosur Road, Bengaluru-560 100, Karnataka, India. The telephone number of our registered office is +91-80-2852-0261. Our agent for service of process in the United States is CT Corporation System, 1350 Treat Boulevard, Suite 100, Walnut Creek, CA 94597-2152. Our website address is www.infosys.com and the information contained in our website does not constitute a part of this Annual Report on Form 20-F. Principal Capital Expenditures and Divestitures Capital expenditure In fiscal 2026, 2025 and 2024, we spent $306 million, $263 million and $266 million, respectively, on capital expenditures. All our capital expenditures were financed out of cash generated from operations. As of March 31, 2026, we had contractual commitments of $141 million for capital expenditure. These commitments included $109 million in domestic purchases and $32 million in overseas commitments. Refer to Note 2.10 “Business Combinations” in Item 18 of this Annual Report on Form 20-F for details of acquisitions done by the company. B. BUSINESS OVERVIEW OUR INDUSTRY Technology continues to fundamentally reshape businesses across industries worldwide. AI is increasingly being applied to fine‑tune domain‑specific capabilities and industry‑focused use cases. Clients are navigating the challenge of rapidly reinventing their processes and systems in the AI era, which requires a strong understanding of emerging technologies, new ways of working, and a deep appreciation of AI ecosystems, business processes, and operational practices. We are supporting clients transform in every aspect of their businesses through technology - ranging from building a robust digital core to reimagining business operations — to enhance agility, efficiency, and resilience, while accelerating growth initiatives. Responsible business practices, including the adoption of ESG principles, continue to gain momentum. During the year, organizations increasingly focused on reconfiguring cost structures, improving resilience and agility, delivering personalized experiences for customers and employees, and launching innovative and disruptive products and services. Businesses are also seeking to address complex challenges using generative AI in ways that deliver measurable outcomes. These include enhancing and personalizing customer interactions, improving efficiency across marketing and sales functions, strengthening code quality, and boosting workforce and organizational productivity. The emergence of generative AI, with its potential for broader automation, and value creation, is expected to significantly accelerate workforce transformation. At the same time, the traditional services market remains intensely competitive, driven by rapid change and the entry of new players in specialized technology niches. Infosys’ industry expertise, end‑to‑end service capabilities, scalable digital solutions, established platforms, strong quality and process excellence, distributed agile global delivery model, experienced leadership team, skilled workforce, and proven execution track record continue to be recognized as key differentiators. OUR STRATEGY Our strategic objective is to build a sustainable and resilient organization that remains relevant to the agenda of our clients, while creating growth opportunities for our employees, generating profitable returns for our investors and contributing to the communities that we operate in. Our clients and prospective clients are faced with transformative business opportunities powered by advances in software and computing technology, especially in AI. These organizations are dealing with the challenge of having to reimagine their core offerings, processes and systems rapidly and position themselves as leaders in their industry. Our strategy is to be a navigator for our clients on their AI journey and help them unlock business value. We help our clients ideate, plan and scale their AI future by building strong data foundations with robust cloud capabilities. At the same time, we are also conscious of the need to build adequate safeguards around privacy, ethics, and controls through Responsible AI practices, which we are evangelizing not only within the company, but also across the industry. In 2018, we embraced a four-pronged strategy to strengthen our relevance with clients and drive accelerated value creation: •Scale Agile Digital •Energize the Core •Reskill our People •Expand Localization The technology services industry has experienced several major shifts. The current AI transition, however, is different – not merely incremental, but transformational. Unlike prior waves centered on deterministic software and application-led modernization, AI compels a foundational redesign of enterprise systems, architectures, and operating models. AI‑native systems are built on probabilistic inference, continuous learning, and agent‑based execution. AI’s impact unfolds across multiple, interdependent dimensions across technology, business, and talent. Technology – enterprises are shifting from application‑centric stacks to platforms that incorporate intelligent agents, orchestration layers, and adaptive learning components. Business – operating models are evolving as workflows move away from linear, role‑based execution toward AI‑driven operating loops that continuously sense, decide, and act. Talent and organization – the nature of work is changing materially; emphasis moves from code creation toward orchestration, system supervision, domain interpretation, and outcome validation. This necessitates new roles, large‑scale reskilling, and a recalibration of workforce composition. Infosys AI vision: We aspire to be the leading partner to “unlock AI value” and deliver business outcomes on revenue growth, cost optimization and innovation. We have a two-pronged strategy for AI: AI first services – To capture new demand to drive growth, AI augmented services – To reinvent existing services to win higher wallet share. These are built on a strong foundation of platforms, intellectual property, ecosystem partnerships, and talent base, Our AI first services are inherently designed with AI as the core execution layer, enabling new business models, products, and revenue streams for our clients by embedding intelligence directly into enterprise operations and decision making. Our AI augmented services enhance our existing offerings by integrating AI into established systems and workflows, improving efficiency, personalization, and outcomes for our clients while preserving and extending the value of current investments. We have developed over 25 industry focused AI playbooks that codify repeatable use cases, domain context, and execution patterns. This enables enterprises to systematically scale AI adoption, accelerate outcomes across growth, efficiency, and innovation, and progress confidently from experimentation to enterprise wide impact. AI First Value Framework We unveiled our AI first value framework to help global enterprises unlock AI value at scale, harnessing the power of our industry-leading generative and agentic AI suite, Infosys Topaz. This move opens a new frontier in IT services and will enable the company to tap into an incremental AI first services opportunity of USD 300-400 billion by 2030 as per market estimates. Our AI‑first value framework is designed to support this journey, helping clients move beyond experimentation and responsibly scale AI as an integral component of their enterprise systems. The framework defines six value pools through which AI can deliver meaningful, sustainable business impact. These value pools are deeply interconnected, reflecting the complexity of real‑world enterprises and legacy environments. Together, they provide a structured and disciplined path to orchestrate data, technology, and operations at scale. •AI Strategy & Engineering: Design and implement AI strategies, platforms, and architectures tailored to business needs. By orchestrating AI agents, proprietary platforms, and third-party tools on purpose-built infrastructure, enterprises can move beyond experimentation to establish a unified, enterprise-wide AI operating model. •Data for AI: Prepare enterprise data, both structured and unstructured, for AI model readiness. By building AI-ready data platforms and applying AI-grade data engineering (including finger printing and synthetic data services), organizations can convert raw data into a trusted strategic asset that fuels advanced analytics, predictive intelligence, and more informed, real-time decision-making. •Process AI: Transform core business processes by integrating AI agents and human expertise, with a focus on redesigning end-to-end workflows. It enables domain-aware agents to work alongside humans to drive step-change improvements in efficiency, experience and deliver business outcomes across functions and industries. •Agentic Legacy Modernization: Leverage AI agents to reverse-engineer existing estates, understand their intent and progressively modernize them without disruption. This helps enterprises reduce technical debt while gaining the agility to respond to changing business demands. •Physical AI: Design intelligent products and embed AI into physical devices so they can capture sensor data, interpret signals, and take real-time action. By combining digital twins, robotics, autonomous systems, and edge intelligence, organizations can reimagine products, operations, and experiences where digital and physical converge. •AI Trust: Ensure AI systems and agents embrace responsible, secure, and ethical AI practices across their entire lifecycle. From embedding risk assessments and policy design to security testing and governance enterprises can scale AI with confidence while meeting regulatory, ethical, and risk expectations. We are already collaborating with 90 percent of our top 200 clients on their AI journeys. Clients see Infosys as their preferred partner to unlock AI value and deliver business outcomes on revenue growth, cost optimization, and innovation. Platforms and IP: We are leveraging our purpose-built, composable and open agentic services suite Infosys Topaz Fabric and our collaboration with AI disruptors to deliver both AI augmented and AI First Services to clients. Infosys Topaz Fabric is an enterprise grade AI services layer architected within Infosys Topaz, that operationalizes AI by embedding enterprise context across data, applications, processes, and systems. Built on our AI first value framework, Infosys Topaz Fabric integrates models, data pipelines, agents, and platforms across diverse technology environments. It enables organizations to reimagine business processes building on existing investments and bringing together AI-led capabilities out-of-the-box while maintaining strategic autonomy. Infosys Topaz AI Next is a Unified AI Platform designed to enable AI-driven orchestration of complex, multi-agent enterprise workflows across humans, AI agents, and enterprise systems. It combines EdgeVerve’s product innovation with Infosys’ global scale to transform both enterprise operations and core business functions. It empowers large and mid-sized enterprises globally to move from traditional operations to digital-native, AI-driven enterprises. Infosys Topaz Fabric has been designed for clients who have already made AI investments and are looking for a composable and modular agentic AI platform to help accelerate their AI journey. Infosys Topaz AI next addresses clients who are looking for an end-to-end vertically integrated AI platform to reimagine their core business processes. By institutionalizing enterprise knowledge and process semantics, these platforms ensure that AI solutions remain relevant, scalable, and tightly linked to business outcomes. The platforms are engineered to support continuous value realization across the AI lifecycle, from rapid experimentation to large scale production deployment. Responsible AI, security, governance, and assurance are embedded by design, enabling enterprises to deploy AI with confidence and control. As enterprises scale AI adoption, the effectiveness of an AI first organization depends fundamentally on contextual grounding. We believe the strategic investments we have made and continue to make position us well to advise and support our clients in traversing the current structural shift in technology. AI partnership ecosystem: Our partnerships are also fundamental to converting AI strategy into business impact. We have a very strong AI partnership ecosystem spanning: 1.Infrastructure compute platforms 2.Cloud 3.AI model developers 4.Data and analytics 5.Enterprise applications 6.Security technologies and 7.Physical AI The partnerships enable best in class AI solutions with the flexibility and resilience required for AI native, agent driven enterprises. We have a broad spectrum of over 50 partners working across the Infosys AI value framework to enable our clients transformation journey. OUR STRUCTURE Our go-to-market business units are organized as: •Financial Services and Insurance •Retail, Consumer Packaged Goods, Transportation and Logistics •Communications, Telecom OEM and Media •Energy, Utilities, Resources and Services •Manufacturing •Hi-Tech •Life Sciences and Healthcare •Others including India, Japan, China, Infosys Public Services and identified enterprises in public services Our solutions have been primarily classified as AI first services and AI augmented services, products and platforms: AI-first services: •Innovate •Assure •Orchestrate •Insight •Transform •Modernize AI augmented services: •Application management services •Application development services •Infosys Quality Engineering •Product engineering and management •Consulting •Cloud and Infrastructure services •Enterprise application services •Support and integration services •Business Process Management •Cybersecurity Our Key Products & Platforms include: •Infosys Cortex •Infosys Cyber Next •Infosys Equinox •Infosys Finacle •Infosys Helix •Infosys McCamish •Infosys Topaz Fabric •Infosys Topaz AI Next* •Infosys Wingspan •Panaya •Stater Mortgage Services * Erstwhile Infosys EdgeVerve platforms are now subsumed under Infosys Topaz AI Next OUR SOLUTIONS AND CAPABILITIES We provide our clients with a full range of business and technology solutions and capabilities, comprising: (1) Consulting Infosys Consulting is reshaping the consulting services landscape through AI‑first, outcome‑driven delivery, helping enterprises translate strategy into sustained, measurable business value at scale. By closely integrating strategic intent with execution, we enable clients to accelerate growth, enhance productivity, foster innovation and strengthen resilience in an increasingly complex and dynamic business environment. As the consulting arm of Infosys, Infosys Consulting brings together strategy, technology and execution capabilities, underpinned by reusable domain assets, an AI augmented workforce and an AI Value Office focused on realized business outcomes. Our AI‑led approach is anchored in four integrated capabilities: defining a clear enterprise AI value thesis and strategic priorities; designing the human–AI operating model; orchestrating execution at scale across platforms and ecosystems; and ensuring continuous value realization with embedded trust, governance and assurance. With a presence across more than 50 countries spanning North America, EMEA and APAC, Infosys Consulting combines global scale with deep local relevance. Our market leadership is further reinforced by consistent recognition in Forbes’ America’s Best Management Consulting Firms list for 11 consecutive years, as well as inclusion in Forbes Best Management Consulting Companies Worldwide in 2025, reflecting our ability to deliver enduring and measurable value for clients globally. (2) Enterprise Service Capabilities SAP The Infosys SAP Practice delivers end‑to‑end consulting, implementation and managed services, enabling enterprises to modernize their core operations and transition to AI‑first operating models. Anchored in a cloud‑first and AI‑first approach, and powered by Infosys Topaz, we help clients transform at scale with speed and efficiency. We leverage AI agents built on SAP Joule and the SAP Generative AI Hub, alongside AI‑native provider ecosystems such as OpenAI, Anthropic and GitHub, to deliver SAP S/4HANA Cloud transformations while maintaining a clean core and supporting long‑term agility. Infosys supports organizations in accelerating their SAP S/4HANA Cloud journey and unlocking business value by infusing intelligence across enterprise processes. By leveraging SAP Business Technology Platform (BTP), SAP Business Data Cloud (BDC) and advanced AI innovations, we provide real‑time insights, data‑driven decision‑making and autonomous actions across the value chain. Our production‑ready AI and agent‑based solutions empower enterprises to respond more rapidly to market and demand shifts, while strengthening operational resilience and efficiency. As a RISE with SAP Validated Partner, with multiple partner recognitions and as an acknowledged leader in SAP services by industry analysts, we help simplify clients’ migration to SAP S/4HANA and delivers cost and performance optimization through comprehensive RISE with SAP and GROW with SAP offerings. We further enable process excellence, transformation governance and user adoption through SAP Signavio, LeanIX and WalkMe, helping organizations build future‑ready digital cores that support sustained growth, innovation and intelligent enterprise outcomes. Oracle The Infosys Oracle Practice, marking nearly three decades of strategic partnership with Oracle, enables AI‑first enterprise transformation across Oracle ERP, SCM, CX and HCM platforms, supported by industry solutions and end‑to‑end infrastructure and technology modernization. Our differentiated approach helps embed client‑specific AI capabilities and intelligent agents within Oracle applications and industry clouds using our differentiated approach that leverages AI to transform the implementation, operation and optimization of Oracle programs across applications, infrastructure and technology estates. Together, these capabilities accelerate time‑to‑value, strengthen operational resilience and foster continuous innovation, reinforcing Infosys’ leadership in AI‑led Oracle Cloud and industry transformation. Enterprise Application Integration (“EAIS”) The EAIS Practice enables clients to navigate the next phase of AI‑led transformation through a comprehensive portfolio of integrated service offerings. The practice delivers end‑to‑end consulting, implementation, integration and support services to create differentiated, AI‑driven enterprise outcomes. These include innovative digital experiences enabled by agentic process automation, streamlined operations through AI‑led process solutions, accelerated software development leveraging AI‑first platforms, and resilient supply chains powered by best‑of‑breed enterprise packages. Aligned with our Infosys AI‑First vision, EAIS helps clients evolve into connected enterprises through offerings spanning Cloud‑First Integration, Cloud‑Native Development, Agentic Process Automation, AI development platforms and Digital Supply Chain solutions. Together, these capabilities support scalable transformation, enhanced agility and sustained business resilience. Enterprise Integration and Orchestration for AI: This dedicated practice focuses on establishing a robust digital backbone for MCP‑driven value networks. It provides standardized and centralized integration solutions that accelerate digital adoption, simplify legacy landscapes and enable technology displacement through cloud and digital integration. Core capabilities include agentic API management, open APIs, MCP gateways and iPaaS solutions. We also deliver real‑time data streaming architectures leveraging platforms such as Confluent, enabling event‑driven, responsive, data‑in‑motion ecosystems. These capabilities help clients unlock real‑time insights, power agentic AI and process automation, and build scalable, future‑ready digital backbones. Agentic Process Automation: This practice helps enterprises reimagine business processes through agentic automation to deliver superior customer experiences, enhance workforce productivity and enable innovative business models. We offer our clients a comprehensive suite of process transformation capabilities spanning process discovery, mining, optimization and automation. These are delivered through leading platforms including Pega, Appian, Camunda, Unqork, Celonis, ARIS, UiPath, Blue Prism, Power Apps and related technologies. AI‑Led Application Development: This competency focuses on building modern business platforms and intelligent applications by harnessing AI‑driven development models. Leveraging platforms such as Devin, Anthropic and Infosys Topaz, We help accelerate application design, development and modernization. The practice also specializes in designing, building and operating cloud‑native applications, including microservices and containerized architectures, enabling scalable, secure and agile enterprise transformations. Digital Supply Chain: Our Digital Supply Chain practice enables cognitive, resilient and increasingly autonomous supply chains through end‑to‑end digital solutions across the value chain. Key focus areas include planning, fulfillment, spend management and asset lifecycle management, supported by deep expertise in order management systems, warehouse management systems, planning, procurement and enterprise asset management. These capabilities help organizations improve visibility, responsiveness and resilience in an increasingly complex global environment. Microsoft Business Applications Services Practice The Microsoft Business Applications Practice at Infosys helps enterprises accelerate Digital and AI-enabled transformations by redefining the Customer Experience (“CX”), Employee Experience (“EX”) and Operational Excellence (“OX”) across enterprise functions using D365 ERP & CRM Suite, Business Central, Power Platform, Copilot Studio, Azure AI foundry, and Microsoft Fabric. AI is embedded across CRM, ERP, and Power Platform journeys, augmenting decision-making, enhancing process intelligence, boosting workforce productivity and accelerating intelligent business operations. Key offerings include Agentic AI solutions built on Custom copilots and AI agents, plus Industry-specific AI playbooks as organisations advance beyond copilots. The practice is also shaping next‑generation, agentic AI operated platforms built on Dataverse and modern data stores, where agents automate end-to-end business processes under human direction, transforming enterprises to become Frontier firms. Core Capabilities across Microsoft Business Applications 1.Consulting-led, industry-aligned transformations driven by a consulting-first approach that guides clients through strategy, value realization, and transformation at scale. Our capabilities include AI & digital transformation advisory, industry-specific consulting and business process redesign as well as simplification, harmonization, standardization, and persona-driven experience design. 2.Agentic AI solutions using Copilot Studio and AI Builder to define and deploy business centric Agentic AI solutions, including joint usecase creation, platform governance, reusable assets, and architectural best practices for scaled enterprise adoption. 3.ERP (Finance & Supply Chain) Transformations delivering end-to-end ERP modernization across finance, supply chain, manufacturing, warehouse operations, project operations, and asset management on D365 Finance, Supply Chain, Cloud for Sustainability suite, supported by Business Process Automation enabled by Power Automate. 4.Redefining Customer CX Journeys through End-to-end CX transformation across Sales, Customer Service, Field Service, Marketing, and Contact Center—supported by data-driven customer insights, unified UX design, application modernization, rapid prototyping, and process digitalization using Power Platform. Enterprise Cloud Application Solutions (“ECAS”) Infosys ECAS Practice has been a strategic Salesforce partner for over two decades, delivering end‑to‑end advisory, implementation, integration, and managed services across the Salesforce ecosystem. Our services span across Agentforce Sales, Agentforce Service, Marketing Cloud Next, Commerce Cloud, Experience Cloud, Salesforce Platform, Data 360, Agentforce AI, Industry Clouds, and a broad set of AppExchange and AI‑led capabilities, enabling enterprises to drive customer-centric, outcome‑driven transformations. As a Salesforce Summit Partner, we have made sustained investments in Global Centers of Excellence, industry accelerators, and AI-first delivery models, working in close collaboration with Salesforce to help clients accelerate value realization. We have built a strong partner ecosystem with leading ISVs including Conga, CloudSense, Copado, ServiceMax, and Certinia, strengthening our capabilities across Quote-to-cash, Service transformation, DevOps, and Enterprise Finance, Health and Life sciences use cases. We bring deep vertical expertise across Life Sciences, Healthcare (Health Cloud), Communications (Communications Cloud), Financial Services Cloud, Automotive Cloud, Manufacturing, Consumer Goods, Retail, Public Sector, and Education Cloud, supported by a strong portfolio of Salesforce-native solutions and accelerators. These solutions are further enhanced by our Customer Experience (“CX”) AI Suite and Salesforce AI accelerators, enabling intelligent automation, predictive insights, and agentic workflows across customer journeys. The acquisitions of Fluido and Simplus, recognized Salesforce consulting leaders in the Nordics, EMEA, and the Americas, have significantly strengthened our global Salesforce footprint. These acquisitions enhance our ability to deliver industry-aligned advisory, implementation, training, and change‑led adoption programs at scale, while deepening our expertise in cloud-first, experience-led transformations. Today we are recognised as a leading Salesforce enterprise cloud services provider, uniquely capable of delivering out-of-the-box, AI‑First, industry‑focused Salesforce transformations—from strategy through execution and long‑term value realization. Digital Design and Experience Capabilities Our Digital Experience offering spans the entire breadth of services, from Consulting & Advisory to Digital Transformation, Implementation & Integration, Management & Operations, and Business Services, leveraging leading digital experience platforms (“DXPs”) in the market. Following is a summary of our key offerings: •User Experience (“UX”) services: This offering focuses on the human interactions our clients want to influence, and then we reimagine the data, content, platforms, brand, and experience to transform their interactions, leveraging generative AI capabilities. •Studio-as-a-Service: Our digital studios are aimed at helping global clients navigate their next digital opportunity and accelerate business outcomes, integrating creativity and digital experience engineering. These studios not only provide agile workspaces and digital skills but also AI accelerators to enable the optimized, high-quality creation of experiences using design thinking, agile sprints, rapid prototyping, and seamless collaboration with our globally connected studios. •Digital Marketing services: We help our clients build deeper customer relationships by delivering personalized experiences and content leveraging data-driven insights. We help them enhance their brand recall, elevate their brand experience, create always-on marketing, and optimize their marketing spend. •Content Management & Marketing Operations: Our E2E Marketing Operations includes Content Management services (website management, content strategy, planning & operations, DAM management); Campaign Management (orchestrating multichannel campaigns through email, search engines, display, mobile, social media and mobile app, SEO/SEM); Ad Operations & Trafficking (social media management, promotion management), Creative services (designing multimedia assets including banners, webpages, emails to newsletters, and 2D/3D videos); E-commerce operations (managing Campaigns on marketplaces, catalogue management and loyalty management). •Digital Commerce services: We deliver smart and nimble commerce solutions to enable engaging ways for consumers to discover and search for cool ways to select and buy. Our offerings include enriching customer experience using creative commerce, building omni-channel commerce, deploying cloud enabled commerce, and augmenting traditional commerce and self-service capabilities through conversational commerce. •Digital Interactions services: We bridge the physical-digital divide by creating engaging cross-channel experiences to meet consumer demand for immersive experiences that are driven by hyper-personalization. We create compelling customer experiences, build digital enterprises, and help disrupt businesses with digital platforms. Infosys’ in‑house creative digital innovation agency, WongDoody, brings unique capabilities in creative consulting, experience design, immersive experiences, and future-proof marketing. With more than 350 global awards, over 20 design studios, and more than 15,000 designers, strategists, researchers, and marketers, WongDoody fosters authentic connections between brands and their audiences. Our acquisition of Blue Acorn iCi, a specialty Adobe & Digital Marketing company in the US, continues to enable us to execute on our strategy to support clients on the digital experience services. Application Development Capabilities Our Application Development offerings enable clients to build and evolve software that is AI native by design. We combine deep engineering expertise, domain and enterprise context, consultative capabilities, and reusable IPs with embedded AI across the entire application lifecycle—from discovery to deployment. Our approach integrates developer copilots, pre-built Software Development Life Cycle (“SDLC”) agents, AI native architecture, agentic workflows, and context aware data foundations to accelerate delivery, improve quality, and reduce operational friction. Built on a cloud agnostic, secure by design, and product centric foundation, our solutions are modular, scalable, and continuously adaptable. This helps clients move from digital transformation to sustained digital advantage as ecosystem leaders. Our offerings span AI native product and platform engineering, intelligent business process re-engineering, industry specific solutions and vertical package rollouts. As part of our AI-first strategy, we have infused AI throughout our software development lifecycle. We utilize leading AI solutions like Github Copilot, Cursor, Claude Code and Devin to name a few. Understanding the challenges of Agentic software engineering, we leverage our homegrown IP like Infosys Topaz Fabric platform for persona-based SDLC assistance, Infosys Agent Control Framework to drive deterministic outcomes from AI with agentic guardrails, along with custom AI models and transformers. Our Application Development offerings are further strengthened by an integrated Domain Consulting Group (“DCG”) that embeds industry context directly into AI native solution design and delivery. DCG brings together industry experts across segments to drive domain led consulting, thought leadership, and AI assisted solution blueprinting. The group plays a critical role in developing and evolving industry specific solutions, including reusable solution patterns and reference architectures. To enable faster and more responsible AI adoption, DCG has developed AI native blueprints across 23 industry segments, aligned to segment specific priorities, regulatory needs, and value drivers. This deep domain integration has contributed to our recognition by leading analysts across multiple industry focused IT and digital engineering capabilities. Application Management Capabilities Our Application Management services empower clients to optimize the cost and efficiency of application operations, strengthen business service resilience, elevate business experience, and foster technological innovation to drive enterprise transformation and growth. We are advancing our capabilities by adopting reimagined application management services powered by agentic AI, which substantially improves efficiency and service quality while leading the transition toward autonomous operations. Our productized service delivery model leverages AI and human process blueprints, as well as Infosys’ Topaz Fabric and partner tools, to enhance productivity and ensure consistent, data-driven, high-quality service delivery. We have established a comprehensive repository of pre-built, ready-to-deploy AI agents utilizing our proprietary agentic framework. These agents orchestrate application operations workflows by integrating automation bots and conversational AI to deliver self-healing and predictive application operations. By leveraging our codified expertise and deep understanding of client enterprise contexts, our AI agents deliver superior solutions tailored to individual business needs. We enhance business availability through proactive and predictive monitoring of critical business processes, minimizing the impact of potential disruptions. Our structured, agentic approach to application portfolio analysis and technical debt management accelerates cloud adoption and mitigates security risks, supporting robust and resilient business operations. Our dedicated team continuously monitors technology and business trends, developing innovative solutions and accelerators that enable us to deliver best-in-class application management services. Strategic partnerships with leading AI pioneers and hyperscalers allow us to integrate the latest AI advancements into our tools and service offerings, enabling us to provide ongoing excellence and future-ready solutions for our clients. Application Modernization Capabilities Our application modernization offerings help enterprises transform legacy IT landscapes, reduce technological debt, and improve resilience in increasingly complex business environments. We enable organizations to respond faster to evolving end-user expectations and business priorities while minimizing disruption to ongoing operations. With a strong focus on security, we modernize data and application estates to help enterprises to effectively adapt to the emerging AI and cloud-driven paradigms. These offerings are delivered through an AI-first, platform-led approach that uses AI to accelerate modernization and significantly improve time to market. Our offerings span the full application modernization lifecycle, combining industry specific solutions across major verticals with deep technology modernization capabilities covering mainframes and other legacy technologies, databases, monolithic architectures, cloud platforms, and low code/no code ecosystems. Infosys Topaz Fabric underpins this approach by simplifying and accelerating modernization and development journeys. It provides end-to-end SDLC automation through guided workflows and AI-enabled tools. By abstracting underlying technology complexity, the platform improves developer productivity, unlocks actionable insights from legacy systems, reduces dependence on niche skills, and enables faster, more predictable delivery. Its seamless integration with enterprise ALM tools further enhances sprint velocity, release predictability, and overall product quality. Infosys Quality Engineering Services Infosys Quality Engineering (“IQE”) is a strategic growth engine that enables enterprises to build resilient, trusted and high‑velocity digital systems in an era defined by AI, cloud and continuous transformation. IQE helps clients move beyond traditional quality assurance toward AI‑first, autonomous and outcome‑driven quality engineering, ensuring that innovation scales with confidence, compliance and reliability. By embedding intelligence across the entire quality engineering lifecycle, IQE is transforming quality from a control function into a critical business enabler. Our focus is on accelerating speed‑to‑value, reducing operational risk and delivering measurable business outcomes as software systems become AI‑driven and autonomous. IQE operationalizes AI value by combining quality engineering excellence with responsible AI practices, scalable platforms, deep domain context and ecosystem partnerships, enabling AI‑led innovation that is both measurable and trusted. Our strategy is anchored in four core priorities: AI‑Native Quality Engineering: We are reimagining the quality engineering lifecycle through intelligent, agent‑driven automation that autonomously plans, designs, executes, optimizes and self‑heals testing workflows. This approach enables continuous quality at scale, substantially improving productivity, throughput and delivery predictability across complex, modern digital environments. AI Trust, Assurance and Governance: IQE establishes enterprise‑grade assurance for AI systems, including large language models, domain‑specific models and agentic workflows. Leveraging proprietary frameworks and platforms, we help clients address risks related to bias, explainability, security, regulatory compliance and model drift, ensuring AI systems remain trusted both before and after deployment. Data as the Quality Foundation for AI: We strengthen AI outcomes by establishing robust data foundations through advanced data engineering, synthetic data generation, data ecosystem assurance and validation of AI data pipelines, including Retrieval‑Augmented Generation (“RAG”) and vector databases. This ensures AI systems are trained, tested and monitored using high‑quality, representative and compliant data. People and Capability: We continue to invest in a reskilled workforce that combines deep domain expertise with advanced capabilities in AI engineering, agentic systems, data and responsible AI, ensuring sustained excellence and scalability in AI‑led quality engineering. Guided by the Infosys AI value framework and supported by strategic alliances, talent transformation initiatives and platform‑led delivery models, IQE is redefining quality engineering as a core enabler of AI‑led enterprise transformation. Data, Analytics & AI Infosys Data, Analytics & AI (“DNA”) is shaping the next phase of enterprise reinvention by helping organizations transition to AI First frontier enterprise where intelligence is embedded into most decisions, workflows, processes, systems, experiences and interactions. In the agentic era, value creation moves beyond insights to autonomous business orchestration. Domain aware AI agents reason based on enterprise knowledge and context, while coordinating across functions, and continuously optimizing outcomes. DNA is at the forefront of this shift reimagining how enterprises strategize, build, operate, govern and monetize AI. For its own services, Infosys DNA is applying agentic AI across the end-to-end service spectrum that includes data, advanced analytics, decision intelligence, AI and governance powered by Infosys Topaz Solution assets leveraging hyperscalers and our AI partner ecosystem. Our focus has progressed from technology enablement to business centric value engineering. We help clients build portfolios of AI initiatives anchored to measurable results revenue uplift, margin expansion, reduction in cost to serve, cycle time compression, and experience improvement and then industrialize them through a unified operating model spanning Data, ML, LLM, Agentic, AI Apps and governance. This “AI-fication at scale” approach accelerates time-to-value while improving reliability, safety, and compliance. A differentiator in the agentic era is the ability to create and protect an enterprise’s competitive advantage through knowledge and context. DNA helps the enterprises realize enterprise brain leveraging Infosys Topaz Fabric to harness and codify institutional expertise into governed semantic and knowledge layers connecting policies, systems, data, processes, domain semantics, and real-time signals so AI agents operate with precision, trust, and situational awareness. This transforms enterprise knowledge into a durable competitive moat and unlocking new avenues for AI powered products and services that drive sustainable growth. Key Offerings a. Business Value Management Business Value Management anchors AI transformation into measurable outcomes and revenue-linked metrics. Through a value office model, we define value hypotheses, build and prioritize AI opportunity portfolios, set adoption KPIs, and track realized benefits across productivity, cycle time, cost to serve, experience, and revenue influence. Benchmark driven diagnostics and industry value frameworks keep AI investments aligned to business priorities and value realization. b. Data for AI Data for AI establishes a trusted, AI ready data fabric by unifying disparate sources, harvesting knowledge from structured and unstructured data, and implementing AI grade engineering for high quality curated multi modal data products for AI. It combines intelligent cataloguing and harmonization with domain ontologies, knowledge graphs, lineage, security, lifecycle governance, MDM, consumption, decisioning and semantic standardization so enterprises can deploy confidently AI at scale. The AI data fabric becomes the substrate for AI and agentic business systems. c. Modernization.ai Modernization.ai renews technology and data estates through AI augmented engineering to accelerate cloud adoption, reduce technical debt, and simplify complex environments with minimal disruption. Using intelligent code understanding, automated refactoring, and cloud native patterns, we modernize platforms while rationalizing and consolidating estates. The outcome is an agile, cost-efficient digital core that supports high velocity innovation, scalable data products, and agentic workflows. d. Agentic AI Led Business Transformation Agentic AI Led Business Transformation reimagines core processes by orchestrating AI agents, domain intelligence, and human expertise to deliver business performance at scale. We embed autonomous decisioning into workflows so processes can interpret context, act independently within guardrails, and continuously optimize outcomes. Beyond efficiency, it enables new growth by accelerating AI driven products, services and new monetization business models aligned to enterprise strategy. e. Unified Operations.ai Unified Operations.ai replaces fragmented xOps with a single intelligence driven operating fabric with ResponsibleByDesign integrating DataOps, MLOps, LLMOps, AgenticOps, FinOps and observability. Built on agentic architecture, it leverages real time telemetry, unified knowledge layers, and autonomous resolution workflows to reduce operational complexity, improve reliability, lower total cost of ownership, achieves business XLA and amplifies business net promoter score. Operations shift from reactive to proactive through zero-touch execution. f. Unified Governance.ai Unified Governance.ai governs everything from data, models, agents and apps with AI for AI. This provides unified governance operating system to scale AI ensuring trust, ethics, privacy, security, and compliance across the full AI and agent lifecycle. Acting as a continuous control plane, it monitors data quality, model behaviour, agent actions, and consumption patterns to prevent unsafe, biased, or noncompliant outcomes. It establishes governance strategies, operating models, registries, risk frameworks, and policy driven guardrails to industrialize AI responsibly. Engineering Services Infosys Engineering Services brings over three decades of deep engineering leadership, partnering with global enterprises to conceive, engineer and realize next‑generation products and platforms across the complete engineering value chain, from concept and design through build, manufacture, operations and sustainment. We help organizations accelerate innovation, deliver differentiated products and experiences, and achieve measurable improvements in cost, quality, speed and sustainability, while meeting stringent industry, regulatory and compliance requirements. Our mission is to enable clients to engineer an AI‑driven, software‑defined, connected and sustainable future. We work with enterprises to shape transformative product innovation roadmaps that drive growth, differentiation and long‑term value across industries. We deliver this through an end‑to‑end spectrum of engineering services, combining deep, multi‑disciplinary engineering expertise with digital, AI‑first and platform‑led innovation: AI‑First Digital Product Engineering: We enable integrated, end‑to‑end product development by combining core engineering capabilities across mechanical, electrical, electronics, silicon and embedded systems, networking and software with AI‑driven design, verification and optimization. Our experience spans complex engineering domains, from lightweight composite aerospace structures and high‑performance turbomachinery to human‑centric medical devices, software products and cloud‑native digital platforms, helping clients reduce time‑to‑market, enhance product performance and unlock lifecycle value at scale. Bridging the Physical and Digital through Connected Systems: By embedding intelligence across products, plants and operations, we connect the physical and digital worlds using IoT, digital thread, digital twin, cloud and industrial platforms. We support enterprises in designing and operating smart factories, connected assets and autonomous systems, ranging from aerospace MRO and industrial operations to award‑winning connected, electric and software‑defined mobility solutions enabling predictive insights, operational efficiency and new digital business models. Next‑Generation Networks, Media and Collaboration Platforms: We build and modernize network and communications ecosystems by transforming legacy infrastructures into software‑defined, cloud‑native and AI‑enabled autonomous networks spanning SDN, 5G, private networks and edge platforms. Our capabilities extend across AI‑driven network transformation, media and hi‑tech platform engineering, intelligent unified communications, and cloud‑based contact center and voice AI solutions, enhancing connectivity, scalability, collaboration and immersive digital experiences for enterprises and service providers. Incubating Emerging Technologies and Ecosystem‑Led Innovation: We scale innovation across next‑generation mobility, software‑defined vehicles (“SDV”), semiconductor engineering, private 5G, Industry 4.0, robotics and Engineering AI. Powered by global engineering labs and a robust ecosystem of partnerships with hyperscalers, technology partners, startups, academia and industry bodies, we accelerate co‑innovation. Strategic acquisitions, including Kaleidoscope Innovation, InSemi and In‑Tech, further strengthen our capabilities in product design, semiconductor engineering and next‑generation mobility, enabling differentiated, market‑relevant solutions and sustained business impact at scale. Cloud and Infrastructure Management Infosys delivers one of the industry’s most comprehensive Cloud, Infrastructure, and Security Management portfolios, enabling enterprises to modernize, secure, and operate hybrid and multicloud environments at scale. Anchored in AI‑first, automation‑led, and platform‑driven delivery, we help clients simplify complex IT estates, improve resilience, optimize costs, and accelerate digital and AI‑led business outcomes. Enterprises are increasingly adopting hybrid and multicloud models, benchmarking internal IT against Hyperscalers on cost, agility, reliability, sustainability, and security. Cloud is no longer just an infrastructure choice it is the foundation for AI, automation, zero‑trust security, and digital business transformation. We address this shift with an integrated, end‑to‑end cloud and infrastructure approach. Core Capabilities 1.Unified Hybrid IT & Cloud Management: End‑to‑end management across on prem, private cloud, public cloud, and edge, with workload‑aware migration, modernization, unified observability, and built‑in security and compliance. 2.Infosys Cobalt - Cloud Transformation at Scale: A comprehensive portfolio of cloud services, solutions, platforms, and industry blueprints enabling composable, cloud‑native, secure, and sustainable enterprise transformation. 3.Automation‑First, AI‑Driven Operations: The Infosys Automation Suite and Infosys Topaz embed AI and generative AI into infrastructure and cloud operations, enabling predictive, self‑healing environments, reduced manual effort, and faster provisioning. Strategic Investments Strengthening the Portfolio ▪GuideVision (ServiceNow Elite Partner): Infosys’ partnership with GuideVision enhances our enterprise service management and digital operations by integrating deep ServiceNow expertise, strategic advisory, large‑scale implementations, and proprietary IP such as SnowMirror, reinforcing cloud‑led, AI‑enabled operations into our existing systems. ▪Versent Joint Venture (with Telstra, Australia): Infosys’ majority stake in Versent significantly strengthens its cloud, infrastructure, and cybersecurity capabilities in ANZ, combining Versent’s local cloud engineering expertise, Telstra’s connectivity, and Infosys’ global scale, Infosys Cobalt, Infosys Topaz, and advanced security capabilities. Cyber Security Infosys Cyber Security practice helps organizations strengthen their cybersecurity posture and stay secure against disruptions arising from increasing cyber threats. We deliver platform centric, AI-powered cybersecurity services that improve cyber resilience and enable rapid adaptation to evolving risks. Our cybersecurity services, encompassing Identity and Access Management (“IAM”), Cloud Security, Data Protection and Privacy, Infrastructure Security, Vulnerability Management, Offensive Security, OT Security, Governance, Risk & Compliance (“GRC”), Cyber Consulting & Advisory, Threat Detection and Response, Managed Security Services, and Security for AI, are secure by design, can scale quickly to meet emerging security trends, and are recognized in the leadership quadrant by leading market analysts. Our rich global experience in delivering cybersecurity services is augmented by: ▪State-of-the-art Cyber Defense Centers across the US, EMEA, and APAC. These centers are built to prevent, detect, assess, and respond to cybersecurity threats and breaches. ▪Engineering and research labs provide our clients with access to advanced threat-hunting capabilities and the latest technology innovations in cybersecurity. ▪Platform-Powered Services The Infosys Cyber Next platform offers security as a service, leveraging pre-selected, pre-integrated, ready-to-use security technologies to provide deep visibility, lifecycle management, automation, and risk-based prioritization capabilities. ▪Strategic partnerships with leading cybersecurity software providers, enabling us to offer innovative AI-augmented cybersecurity solutions for secure access, cloud infrastructure, endpoints, applications, email, and more. ▪Dedicated focus on delivering Security for AI offerings to enterprises, ensuring alignment with the principles of responsible AI adoption. ▪Acquisition of The Missing Link: Infosys strengthened its end-to-end cloud and cybersecurity capabilities through the acquisition of The Missing Link, an award-winning Australian cybersecurity services specialist. The acquisition expands Infosys global cyber defense footprint by adding advanced Red Team and Blue Team capabilities, a state-of-the-art Global Security Operations Centre (GSOC), and deep expertise across offensive and defensive security, cyber risk assessments, compliance, and managed security services. The Missing Link enhances Infosys presence in the fast-growing Asia-Pacific market while complementing Infosys global cyber defense centers. ▪Infosys Cyber Next is our cybersecurity service delivery platform. The platform is designed to de-risk enterprise operations and scale security outcomes. The platform is powered by the Infosys Topaz Fabric suite, where security AI agents work to correlate multi-domain telemetry, reduce false positives, and automate responses. With Infosys Cyber Next, we are achieving higher accuracy driven faster and more effective threat detection and remediation. Built on a modern security-mesh-aligned architecture, Infosys Cyber Next unifies cyber operations across the enterprise. The platform helps enterprises overcome challenges such as alert fatigue, tool sprawl, skill shortages, and expanding attack surfaces. It centralizes security insights, automates incident-response workflows, and integrates security tools across the enterprise fabric. Business Process Management Infosys BPM provides end-to-end Business Process Management (“BPM”) services. Our consultative approach leverages Generative Business Services prioritizing AI solutions, leveraging deep customer insights, domain expertise, and empathetic intelligence to seamlessly integrate generative AI solutions, agentic AI solutions, and drive innovation. Our AI-driven approach transforms business operations, making them smarter, faster, and more intuitive. The comprehensive approach empowers organization to relentlessly innovate, accelerate growth, build connected ecosystems, and ultimately deliver large-scale business impact. We also continue to leverage AI's benefits for our human-ware through skill enhancement, and reskilling, complex problem-solving, judgmental decision making, and domain expertise. Infosys BPM offers business process management services such as Finance & Accounting (“F&A”), Sourcing & Procurement (“S&P”), Sales & Fulfilment (“S&F”), Customer Service (“CS”), Human Resource Outsourcing (“HRO”), Legal Process Management (“LPM”), Digital Interactive Services (“DIS”), Digital Transformation Services (“DTS”), Analytics (“AT”), Generative AI, Business Transformation Services, Annotation Services for AI and ML, Learning Services, Master Data Management, Geospatial Data Services, Business Process as a Service (“BPaaS”), Global Capability Centers (“GCC”), Financial Crime Compliance (“FCC”), Trust & Safety (“T&S”), Travel, Transport & Hospitality (“TTH”), and Industry Solutions across industry segments viz, BFSI, Manufacturing, Hi-Tech, Retail, Services, Utilities, Resources & Energy (“SURE”), Telecom etc. Our platform-based digital capabilities include industry leading policy administration and insurance platform McCamish NGIN; vertical utilities platform in mortgage – Stater, and our joint venture with Hitachi, Panasonic, Mitsubishi and Pasona in Japan for sourcing and procurement, and enterprise capabilities platforms such as APOC (Account Payables on Cloud). Digital Workplace Services Infosys Digital Workplace Services (“DWS”) helps enterprises realize measurable productivity gains and business value by reimagining work, workforce, and workplaces through an AI‑first, human‑centric and sustainable approach. By Leveraging intelligent automation, adaptive learning platforms, and connected work environments, DWS enhances employee experience, strengthens operational resilience, and improves agility. Creating a workplace ecosystem that scales, embeds intelligence into everyday work, and delivers enduring value. Infosys DWS offerings enhance employee productivity, enable seamless collaboration, and support hybrid work models for operational excellence through a blend of technologies and experience-centric solutions: 1.AI-first Workplace Strategy and Advisory Services: Develops AI‑led workplace strategies, reimagines work with AI, builds ROI‑driven business cases, and advances experience transformation using XMOs and XLAs. 2.A next‑generation AI service desk: Leverages agentic virtual assistants to personalize, automate, and autonomously resolve IT and HR interactions at scale. 3.DaaS and Cloud Endpoint Management: Delivers secure, cloud-native device and application management with virtual desktops for improved accessibility and efficiency. 4.Digital Collaboration to Deliver an AI-enhanced collaboration that helps teams connect seamlessly, automates routine tasks, and enables frictionless information flow to boost productivity and innovation. 5.Unified Communication:Provides an AI-driven UCaaS platform that modernizes communication by enabling seamless messaging, calling, file sharing, and immersive collaboration for globally distributed teams. 6.Employee Experience:Designs adaptive, human-centric, AI-led experiences that unify people, processes, and technology to elevate workforce engagement. 7.Connected and Sustainable Workspaces: Builds future-ready, sustainable workplaces through device circularity, smart buildings, and carbon-footprint intelligence. 8.Workplace Security: Strengthens workplace security with a cyber-resilient ecosystem and agentic AI that enables autonomous, real‑time threat detection and response. 9.Experience Management Office (XMO): Facilitates a shift from SLA-based delivery to experience-led outcomes through governance of XLAs for measurable business impact. Infosys has established dedicated ‘Future of Work’ Zones in Bangalore and Düsseldorf, enabling clients to experience the art-of-possible through AI and emerging technologies that shape the #NextAtWork. Infosys Center for Emerging Technology Solutions (“iCETS”) iCETS is the emerging technology incubation partner for Infosys, delivering next‑generation platforms and innovation‑as‑a‑service powered by New Emerging and eXploratory Technologies (“NEXT”). Driving Next-Generation Innovation: As AI adoption accelerates, Generative AI is scaling from experiments to enterprise deployment, transforming how businesses operate and innovate. ICETS leads this shift by enabling enterprises to apply emerging technologies through a structured, outcome‑driven approach. A Structured Innovation Journey: Now, Near, and Next- ICETS innovation framework is grounded in a clear and scalable model that balances long-term vision with immediate business impact: Now – Platforms and Ecosystems: Driving enterprise-scale value through reusable platforms, accelerators, and integration capabilities that operationalize AI at scale. Together, these pillars form a cohesive approach that transforms ideas into measurable business outcomes—ensuring innovation is not only visionary but also executable. At the core of our “Now” strategy is Infosys Topaz Fabric— composable, and interoperable AI agents, tools, services, and models. The stack enables organizations to optimize existing IT processes and eliminate or automate manual tasks. It helps enterprises build on existing investments, through a platform of platforms approach, unlocking value across the enterprise landscape by unleashing, accelerating, amplifying, and maximizing in value-realization. Infosys Topaz Fabric powers this value realization across three interconnected domains: •Consulting- Delivers end‑to‑end advisory by combining strategic intelligence, AI insights, and structured frameworks to define priorities, roadmaps, and measurable outcomes. •Engineering- Speeds software delivery using modern architectures and AI‑driven automation across builds, modernization, cloud migration, and data engineering. •Operations- Enables resilient, outcome‑driven operations through AI‑powered monitoring, automation, self‑healing, and predictive insights. Near - Scaling Innovation Through Living Labs: Bringing innovation to reality through co-creation, rapid prototyping, and real-world validation, Living Labs enable clients to contextualize, experiment, iterate, de-risk innovations in controlled environments. Infosys Living Labs are global innovation hubs where clients, partners, startups, and academia cocreate solutions using emerging technologies. They enable rapid innovation across platforms, alliances, and service lines through immersive, client‑centric collaboration. Client Living Labs deliver Innovation‑as‑a‑Service by addressing client and industry challenges through emerging technologies and rapid experimentation. They are enabled by three flagship programs: IncubateNext for scalable, real‑world innovation; ImagineNext for future opportunity discovery; and SenseNext for converting early market and technology signals into action. Next – Applied Research Centers (ARC): We drive innovation across AI, cybersecurity, robotics, autonomous systems, quantum computing, and next‑generation interaction models. We innovate across Advanced AI, New Interaction Models, Cybersecurity, Autonomous Machines, Humanoids, and Quantum - bringing research‑driven emerging technologies into enterprises for real client impact. As AI evolves, transformation will be driven by execution excellence, ecosystem collaboration, and responsible innovation. iCETS is committed to enabling enterprises and Infosys with the research, platforms, and expertise needed to convert emerging technologies into real‑world AI impact. AI-First GCC The AI-First GCC Model is a specialized offering that accelerates the setup and transformation of GCCs into AI-powered hubs for innovation and growth. This new offering empowers enterprises to reimagine their GCCs as strategic assets that drive innovation, agility, and competitive advantage. The model provides an end-to-end path from comprehensive setup support to scalable talent strategies and operational readiness, while enabling AI-led transformation with production-grade agents and a unified fabric. We design the GCC to serve as a modernization hub for driving transformation across business operations, software engineering, and technology operations. The model brings in leverages Infosys Topaz Fabric for building and scaling reliable production-grade AI agents, run applied and agentic AI at enterprise scale, and Infosys Topaz suite of services to infuse AI-first services and solutions across the GCC lifecycle. It is further complemented by Infosys’ expertise in leveraging AI to transform business processes, making them smarter, faster, and more intuitive. By unifying technology, talent, and transformation capabilities, we enable clients to turn their GCCs into scalable innovation engines that deliver global mandates and business growth imperatives. Key capabilities include: •End-to-end New GCC Setup: Delivering fully integrated GCC lifecycle management, from strategy development and site selection to entity setup, recruitment, and operational launch. •GCC scale up and transformation: Embedding enterprise AI capabilities across GCC operations, driving cost efficiency, faster time-to-market, and new business opportunities. •GCC Carve Outs:Exploring opportunities for the takeover of GCCs, carving out specialized services like Testing, R&D, or partial/full divestment of existing GCCs. In addition, we’ve established a bespoke Joint Value Office within the GCC model to ensure enterprise-wide alignment, measurable impact, and sustained transformation. This centralized function co-owns and manages the integrated roadmap in collaboration with Client stakeholders, prioritizing high-value use cases across lines of businesses. It will track benefit realization through defined KPIs, foster adoption through structured change management, and ensure accountability across business and technology teams. Services Brands: Infosys's services brands - Infosys Cobalt, Infosys Topaz, and Infosys Aster - represent focused, domain-led offerings that bring together the Company's capabilities and expertise to address distinct enterprise transformation needs. Each brand embodies a dedicated suite of services, solutions, and platforms designed to help clients navigate and accelerate their journey across cloud, AI, and marketing. Infosys Aster Infosys Aster is an AI-amplified marketing suite that delivers engaging brand experiences, enhanced marketing efficiency, and accelerate effectiveness for business growth. It drives AI-led transformation of marketing with an integrated, real-time view across customers, brands, channels, and trends enabling companies to increase ROI from marketing. Infosys Aster is helping redefine the future of marketing through generative and agentic AI enabling enterprises to scale personalized experiences, drive real-time customer engagement, and orchestrate intelligent, autonomous marketing journeys that continuously learn, adapt, and deliver measurable business impact across the entire value chain. Leveraging data as a foundational strength—unifying first, second, and third‑party data into a governed, AI‑ready ecosystem that powers real-time insights, predictive intelligence, and audience segmentation, Infosys Aster delivers unmatched advantages for B2B and B2C brands helping scale new markets and increase customer loyalty. Brands that have used Infosys Aster have realized a big increase in repeat buyers, improvement in the cost of marketing operations, and increase in sales. Key benefits of Aster include: a. Engaging brand experiences: Infosys Aster delivers lasting connections with its human experience design approach amplified by the power of technology. Utilizing advanced technologies like real-time Unreal Engine 3D, AR/VR/XR, and digital twin CGI modeling, it delivers immersive experiences that foster customer intimacy. By taking advantage of AI-powered customer and marketing data platforms, it enables brands to unlock insights from data while also drawing on the power of ecosystems to deepen omnichannel engagement. b. Enhanced marketing efficiency: The suite combines gen AI‑amplified content and creative services, intelligent recommendations from the MarTech stack, and marketing insights to deliver cost-effective campaigns faster. It also boosts efficiencies through marketing shared services by centralizing and automating content and design operations, reducing time and cost to activate campaigns. The suite’s AI capabilities, powered by Infosys Topaz, help brands improve channel efficiencies by analyzing performance data and adapting strategies in real time. c. Accelerated effectiveness for business growth: Infosys Aster helps businesses create shared digital foundations, to create new avenues to value for sales and marketing. AI-driven analytics and customer insights help marketers increase customer lifetime value by personalizing outreach, nurturing meaningful conversations, and garnering high-quality leads. d. Driving growth by leveraging AI: Infosys Aster has been creating memorable brand experiences for several Fortune 100 clients helping them scale in their markets. AI elevates brand experiences by using predictive marketing analytics to anticipate customer needs, behaviors, and preferences. Complemented with ecosystem partners, customer intelligence and real‑time insights, brands can deliver timely, relevant experiences shaping smarter campaigns, more resonant messaging, and demand‑aligned inventory decisions. Augmented with agentic AI, brands go further, deploying autonomous agents that plan, execute, and refine experiences dynamically, ensuring consistency, relevance, and impact across the customer journey helping drive growth. Infosys Aster is built on a strong foundation of Cloud, Data & AI ecosystems of Infosys powered by Infosys Cobalt and Infosys Topaz, supported by a range of industry leading products including Adobe, Sitecore, Magnolia, Optimizely, Newgen, SAP Commerce, and amplified by a range of AI assets and tools that enables a comprehensive range of functions like creative services, content supply chain, MarTech, e-commerce, performance marketing and marketing operations. Infosys Cobalt Infosys Cobalt is a comprehensive suite of services, platforms, and solutions that acts as a force multiplier for cloud‑powered, AI‑native enterprise transformation. It enables organizations to adopt cloud, data, and AI in a cohesive, scalable, and secure manner supporting sustainable growth, operational resilience, and long‑term value creation. Built to be secure by design, AI‑first, and sustainability‑focused, Infosys Cobalt helps enterprises navigate complex digital transformations while maintaining architectural consistency, regulatory compliance, and economic discipline. Infosys Cobalt provides enterprise‑grade cloud and data foundations that enable organizations to scale advanced analytics, enterprise AI, and intelligent automation across business functions. By embedding AI across the transformation lifecycle from strategy and architecture to modernization and continuous optimization Infosys Cobalt enables enterprises to move from fragmented experimentation to production‑grade AI programs that deliver measurable business outcomes. This approach strengthens decision‑making, accelerates innovation, and improves enterprise resilience while ensuring responsible and sustainable adoption of AI at scale. A key element of Infosys Cobalt is Fabric for Cloud, which unifies fragmented cloud capabilities across the enterprise by embedding an AI-first mindset and a platform-driven approach throughout all cloud life‑cycles including discovery, architecture, migration, operations, optimization, and governance. By applying intelligent reasoning, pattern recognition, and automation, Fabric for Cloud enables more consistent and informed decision‑making across architecture design, modernization pathways, reliability, cost optimization, and compliance. This enables enterprises to adopt more resilient, efficient, and repeatable cloud operating models as transformations scale across portfolios, geographies, and business units. As organizations move from technology adoption to enterprise‑wide transformation, Infosys Cobalt is anchored by a consulting-led approach to reimagine business and operating models. Through consulting‑driven discovery and strategy, Infosys helps organizations rethink operating models, technology landscapes, and value streams, aligning business ambition with cloud and AI execution. A consulting led approach brings a heuristic philosophy that establishes an outcome‑driven foundation, ensuring transformations are economically viable, architected for scale, and capable of delivering sustained business impact. By integrating cloud, AI, and data into core business processes, Infosys Cobalt enables enterprises to unlock new revenue opportunities, improve operational efficiency, and deliver differentiated experiences, while embedding security, compliance, governance, and sustainability by design to support long‑term resilience in an increasingly complex and regulated environment. At its core, Infosys Cobalt reimagines enterprise technology as an enabler of intelligent, adaptive, and resilient organizations. Through a consulting‑led, platform‑driven convergence of cloud, AI, data, and industry expertise, Infosys Cobalt enables enterprises to continuously evolve products, services, and operating models scaling innovation responsibly and sustaining long‑term value creation across business functions and geographies. Infosys Topaz Infosys Topaz is our AI augmented set of services and solution assets that acts as a universal orchestrator across our service lines to infuse AI and Agentic AI in every services we offer to the client. Infosys Topaz adopts a poly AI approach to accelerate adaptability and flexibility with blueprints, playbooks and Infosys Topaz Responsible AI framework. Infosys Topaz driving homogenous AI talent transformation, skill development and competencies aligned to our AI First value framework. With Infosys Topaz, businesses can re-imagine the work, workplace, and workforce to drive business agility, enhance customer experience and gain competitive edge in the market. Infosys is taking the AI-first approach to its own transformation, with Agentic AI at the forefront of our strategy for both internal implementations and client solutions. We are bringing the power of AI to accelerate our own enterprise transformation, even as we build incremental value from micro-changes, to improve client service, reimagine business processes, and boost productivity. Through Infosys Topaz Fabric, we are developing specialized agents for ourselves and our clients. These include specialized AI Agents that enhance productivity across the enterprise. Infosys Topaz Center of Excellence played a pivotal role in industrializing AI across client ecosystems, delivering several Generative AI engagements. This strong execution was underpinned by deep engineering rigor and a relentless focus on measurable business outcomes. We also saw significant traction in agentic AI, with several agent‑based solutions successfully deployed in production and generating tangible value for our customers. Building on this delivery momentum, we continued to strengthen our AI leadership by forging strategic partnerships with AI‑native companies, deepening alliances with hyperscalers, and collaborating closely with innovative industry startups. Innovation remained core to our strategy, with rising number of AI patents filed during the year. Reflecting our sustained momentum and execution strength, Infosys was recognized as a Leader in AI and Generative AI by leading industry analysts during the year. (3) Products & Platforms Infosys Finacle Finacle is an industry leader in digital banking solutions. Finacle's Next-Gen, AI-powered banking platform and SaaS services are fully composable and cloud-native, enabling banks to engage, innovate, operate and transform better. Finacle’s AI stack infuses industry-leading intelligence, Model Context Protocol, MLOps, LCNC and design-to-code capabilities across journeys and workflows in core banking, digital engagement, lending, payments, cash management, wealth management, treasury, revenue management and blockchain. The platform's holistic Data-to-AI approach helps banks to harness AI at scale, and deliver smarter decisions, contextual offerings, and meaningful experiences. Trusted in over 100 countries, Finacle enables over a billion people and millions of businesses, to save, pay, borrow, and invest better, every day. Infosys Equinox Infosys Equinox is an AI-first, composable commerce platform built for the agentic era, enabling enterprises to deliver intelligent, autonomous, and personalized commerce experiences across channels, customers, and AI agents. Powered by a future ready MACH X architecture (Microservices based, API first, Cloud native, Headless, and eXtensible), it embeds domain trained AI, decisioning, and agent orchestration directly into the commerce lifecycle, from product discovery and pricing to fulfillment and customer service. Our modular design, partner ecosystem, and commerce as a service operating models allow enterprises to start where they need, adapt continuously, and scale intelligent commerce with speed, governance and confidence. Infosys Helix As the U.S. Healthcare payer industry grapples with higher medical cost utilization, payers are exploring avenues to optimize their core administration cost by transforming their legacy systems and fragmented data silos. Infosys Helix is a cloud-native, AI-first platform built as modular, composable suite of capabilities, empowering payers to modernize their core administrative functions—from enrollment to claims to billing—without disrupting care delivery. Leveraging Machine Learning and Generative AI in reactive and agentic behavior, Infosys Helix reimagines functional processes in achieving higher accuracy and lower turn-around times in key business transactions. Infosys Helix is offered in Software as a Service (“SaaS”) and Business Process as a Software (“BPaaS”) models delivering business value accrued through both IT operations and business operations of Payer organizations. Infosys McCamish Infosys McCamish offers platform-based insurance process management solutions and services insurance companies across a broad array of insurance products, distribution models and platform deployment options. Core offerings include products and services in Individual Life Insurance and Annuities, Employer sponsored Benefits and Retirements and Producer Management and Compensation. In addition to providing the VPAS Platform in License, and SaaS engagements, Infosys McCamish also provides end to end BPM Policy administration services on the VPAS Platform which provides BPM and SaaS-BPM hybrid engagement. Infosys Topaz Fabric Infosys Topaz Fabric is a purpose-built agentic services suite. It is a foundational enabler for the new generation of AI native services. And at its real core, it brings together multilayer AI capabilities across infrastructure, AI models, enterprise data, applications, and workflows that can be composed into an agent ready ecosystem. Infosys Topaz Fabric is interoperable with leading AI tools, platforms and models in the market, helping enterprises remain model-agnostic, while building on top of their existing AI tooling investments instead of a “rip and replace” approach. The focus is on driving client value, driving rapid AI adoption, delivering services with greater resilience and driving speed of change across greenfield and Bluefield transformation. In Infosys Topaz Fabric we are building blueprints, design patterns, orchestration and run time layers that are required to run agent native service deliveries. Infosys Topaz Fabric is focused on five key areas. •Building multilayer AI capability to enable infra models, data applications, and workflows to be orchestrated together, rather than operating in silos. •Prepackaged journeys and agentic service suites that are aligned with our service offerings to facilitate faster and more consistent value delivery. •Enterprise application adapters and Media Transfer Protocol (“MTP”) servers integrate both modern and legacy applications to participate effectively within the agentic environment. •Enterprise knowledge fabric combines structured organizational data with deep tribal knowledge, enabling the agentic ecosystem to function in real-world contexts. •Hybrid intelligence by combining frontier LLMs with specialized small language models that we have developed to support our service ecosystem. Our key focus is to help organizations move fast in AI adoption journey without breaking the foundation of organizational practices they have relied on thus far. Therefore, we need to help them move their AI adoption, starting right where they are and connecting them to their north star, by bringing in ready-made patterns, ready-made connectors and generic blueprints to shorten time to value. We stay focused on orchestration and not replacement. The fabric works with legacy and modern applications and AI native tools while ensuring zero lock-in, which means clients can continue to use the technology choices they have already made. Infosys Topaz Fabric is designed with strong built in controls with key human handoffs and enterprises grade processes to ensure accountability and compliance. Infosys Topaz Fabric embeds AI into the flow of work, essentially embedding directly into the user and customer journeys across the applications and platforms they use. Infosys Topaz AI Next Infosys Topaz AI Next (Earlier EdgeVerve AI Next) is a Unified AI Platform designed to enable AI-driven orchestration of complex, multi-agent enterprise workflows across humans, AI agents, and enterprise systems, delivering complex transformations at scale. Aligned with Infosys Topaz, the platform represents the coming together of EdgeVerve’s AI platform capabilities with Infosys’ enterprise-grade AI-first offerings. Through intelligent orchestration of workflows and decisioning systems, supported by robust governance and lifecycle management, the platform enables enterprises to continuously adapt, innovate, and thrive in an increasingly dynamic digital landscape, minimizing disruption while maximizing agility, productivity, and business value. Infosys Topaz AI Next is a catalyst for AI-first enterprise reimagination, combining EdgeVerve’s product innovation with Infosys’ global scale to transform both enterprise operations and core business functions. It empowers large and mid-sized enterprises globally to move from traditional operations to digital-native, AI-driven enterprises. Infosys Wingspan Infosys Wingspan continued to play a key role in strengthening Infosys’ human capital agenda by enabling scalable, accessible, and future‑focused learning across enterprises. As an AI‑first, mobile‑first talent transformation platform, Infosys Wingspan supported organizations in responding to rapid technology shifts, evolving workforce expectations, and the growing need for continuous reskilling. The platform reinforced learning as a core people capability—integrated with productivity, workforce readiness, and long‑term talent sustainability. Infosys Wingspan was increasingly leveraged as part of enterprise‑wide people and transformation initiatives, including Training as a Service (TaaS), digital and GenAI skilling programs, and structured onboarding and transition journeys. Infosys Wingspan augmented the comprehensive talent transformation ecosystem, supporting diverse learner needs across roles, skills, and career stages for helping enterprises be AI literate and proficient. Through guided learning pathways, role‑based journeys, and blended learning models, the team enabled seamless learning experiences that combined self‑paced digital content, instructor‑led programs, and experiential learning. Social and collaborative learning, decentralized content creation, and analytics‑driven insights helped foster a culture of continuous learning and shared ownership of capability building. Its scalable architecture and mobile accessibility enabled consistent learning experiences across geographies, while outcome‑oriented measurement frameworks helped organizations assess learning effectiveness and align capability development with business priorities. Infosys Panaya Panaya, a SaaS-based company certified by SAP, Oracle, and Salesforce.com, offers an all-in-one platform for Smart Testing solutions and Change Intelligence tailored for ERP, CRM, and cloud business applications. Panaya accelerates and de-risks digital landscapes with AI-powered Test Automation, Test Management, and Impact Analysis. Panaya focus on ease of use and an intuitive interface ensures seamless collaboration between business and IT, empowering business users and IT professionals to gain real-time visibility and control over their projects. This capability enables faster releases and continuous delivery of high-quality software. Since its founding in 2006, Panaya has been a trusted partner for a number of Fortune 500 companies to drive rapid, quality testing and change management in their enterprise business applications. Infosys Stater Infosys Stater operates in the Mortgage and Consumer loan value-chain with extensive capabilities in Digital Origination, Servicing, and Collections. A leading technology and business process management provider across the mortgage services value chain, Infosys Stater enhances experience and operational efficiencies. Our platform helps customers to be innovative and successful. We continue to drive clients’ Mortgage and Consumer Loan digital transformation strategy with accelerators such as dynamic workflow, API layers, RPA, and Analytics. OUR CLIENTS We market our services to enterprises throughout the globe. We have a strong market presence in North America, Europe and Asia Pacific. Our revenues for the last three fiscal years by geography are as follows: Geography Fiscal 2026 2025 2024 North America 56.1 % 57.9 % 60.1 % Europe 32.1 % 29.8 % 27.6 % Rest of the World 8.9 % 9.2 % 9.8 % India 2.9 % 3.1 % 2.5 % Total 100.0 % 100.0 % 100.0 % Our revenues for the last three fiscal years by business segment were as follows: Business Segments Fiscal 2026 2025 2024 Financial Services 27.9 % 27.7 % 27.4 % Manufacturing 16.3 % 15.5 % 14.5 % Energy, Utilities, Resources and Services 13.3 % 13.3 % 13.0 % Retail 12.9 % 13.5 % 14.7 % Communication 12.2 % 11.7 % 11.7 % Hi-Tech 7.8 % 8.0 % 8.1 % Life Sciences 6.9 % 7.3 % 7.5 % All other segments 2.7 % 3.0 % 3.1 % Total 100.0 % 100.0 % 100.0 % For fiscal 2026, 2025 and 2024, our five largest clients together contributed 12.9%, 13.2% and 13.3%, respectively, of our total revenues. The volume of work we perform for specific clients varies from year to year based on the nature of the assignments we have with our clients. Thus, a major client in one year may not provide the same level of revenues in a subsequent year. However, in any given year, a limited number of clients tend to contribute a significant portion of our revenues. Our revenues experience seasonality across certain quarters based on the billable effort that varies across quarters due to differences in the number of working days, number of holidays and variation in the amount of client spending across quarters. SALES AND MARKETING OVERVIEW We have organized our sales and marketing functions into teams across 59 countries around the world. At Infosys, everything we do has its roots in our purpose ‘To amplify human potential and create the next opportunity for people, businesses and communities.’ As navigators of enterprise transformation, we enable businesses to unlock AI value at scale. With over four decades of experience in managing the systems and workings of global enterprises, we accelerate business transformation through our AI-first value framework, deep domain expertise, and our unique ability to orchestrate innovations from our AI-native partner ecosystem. Our extensive geographic footprint, combined with deep industry knowledge, enables us to leverage global expertise tailored locally to serve every client's needs. Our focus on helping global enterprises unlock AI value at scale is enabled by the power of our industry-leading generative and agentic AI suite, Infosys Topaz. Brand Infosys is counted among the world’s Top 100 brands and is committed to being a well-governed, environmentally sustainable partner for our clients where deep talent expertise, in an inclusive workplace, help them navigate their next. COMPETITION We operate in an environment marked by intense competition in traditional services, rapid technological change and the continued emergence of specialized players addressing niche areas. Advances in cloud, AI and platform architectures have lowered barriers to entry, enabling niche providers to offer focused solutions, including software‑as‑a‑service platforms, industry‑specific products, and increasingly, configurable AI models, agents and plug‑ins embedded directly into enterprise workflows. At the same time, large technology platforms continue to expand their service layers, while clients themselves are selectively insourcing capabilities as AI improves productivity and reduces dependency on external labor‑based models. In response, we have continued to invest in building differentiated proprietary intellectual property across software platforms and products that enable scalability, relevance and long‑term client value. Our investments in Infosys Cobalt to accelerate enterprise cloud transformation, Infosys Topaz as an AI‑first portfolio of services, solutions and platforms, and Infosys Aster as an AI‑amplified marketing suite reflect our emphasis on platform‑led, outcome‑driven delivery. These offerings are designed to integrate seamlessly with client ecosystems, partner technologies and emerging AI capabilities, while embedding enterprise context, governance and security. This approach allows us to compete effectively in a landscape where value increasingly shifts from standalone services to integrated, AI‑enabled platforms and ecosystems. HUMAN CAPITAL Our employees are our most important assets. We are committed to hiring and retaining the best talent and being among the industry’s leading employers. For this, we focus on promoting a collaborative, transparent and participative organization culture, and rewarding merit and sustained high performance. Our human resources management focuses on allowing our employees to develop their skills, grow in their career and navigate their next. As of March 31, 2026, we had 328,594 employees, of which 310,887 were professionals involved in service delivery to clients, including trainees. Our culture and reputation as a leader in consulting, technology, outsourcing and next-generation digital services enable us to attract and retain some of the best talent. We have built our global talent pool by recruiting fresh graduates from premier universities, colleges and institutes globally. We constantly attract and hire developers, architects, technical leaders and project managers in areas of digital and cloud, and transformation. We have built robust relationships with top institutions in India and recruit students who have consistently shown high levels of achievement. We have continued upscaling our InfyTQ platform which brings the best of our Mysuru training to the hands of the learners across the country. This amplified the learning experience of students who also undergo assessments to get the coveted Infosys Certification. We also have been globally recognized for our Innovation in recruitment for our HackWithInfy, an Online Coding contest, which also helps us attract the best of coders into our organization. We also recruit students from campuses outside India, including but not limited to the United States, UK, Australia, Singapore, Japan, Germany, Canada, Mexico, Mauritius and China. We rely on a rigorous selection process involving evaluation of mathematical and logical aptitude, coding ability and in-depth interviews, to identify the best applicants. This selection process is continually assessed and refined based upon multiple factors including performance tracking of past recruits. During fiscal 2026, we received 5,884,480 employment applications, interviewed 450,901 applicants and extended offers of employment to 87,286 applicants. These statistics do not include our subsidiaries. INTELLECTUAL PROPERTY Our intellectual property rights are critical to our business. We rely on a combination of patent, copyright, trademark and design laws, trade secrets, confidentiality procedures and contractual provisions to protect our intellectual property. As of March 31, 2026, we have 973 pending or registered patents in India, the EU, the United States and other key jurisdictions. Infosys Limited and its subsidiaries also have over 900 trademarks pending or registered across classes identified for various goods and services across 51 countries. We require employees, independent contractors and whenever possible, vendors to enter into confidentiality agreements upon the commencement of their relationships with us. These agreements generally provide that any confidential or proprietary information developed by us or on our behalf be kept confidential. These agreements also provide that any confidential or proprietary information disclosed to third parties in the course of our business be kept confidential by such third parties. However, our clients usually own the intellectual property in the software we develop for them. We regard our trade name, trademarks, service marks and domain names as important to our success. We rely on the law to protect our proprietary rights to them, and we have taken steps to enhance our rights by filing trademark applications where appropriate. We have obtained registration of our key brand ‘INFOSYS’ as a trademark in both India and in the United States. We also aggressively protect these names and marks from infringement by others. CYBERSECURITY Please refer to Item 16K of this form. EFFECT OF GOVERNMENT REGULATION ON OUR BUSINESS Regulation of our business by the Indian government affects us in several ways. We benefit from certain tax incentives promulgated by the Government of India, including the export of services from SEZs. As a result of such incentive, our operations have been subject to relatively lower Indian tax liabilities. Any change in applicable laws, regulations, or government policies could adversely impact the availability or extent of such incentives and, consequently, our results of operations. We have also benefited from the liberalization and deregulation of the Indian economy by the successive Indian governments since 1991. However, there are Indian laws and regulations that affect our business, including regulations that require us to obtain approval from the RBI and / or the Ministry of Finance of the Government of India in certain cases, to acquire companies incorporated outside India and regulations that require us, subject to some exceptions, to obtain approval from relevant government authorities in India in order to raise capital outside India. The conversion of our equity shares into ADSs is governed by guidelines issued by the RBI. The Indian Companies Act, 2013 has introduced the concept of compulsory corporate social responsibilities. As per the Indian Companies Act, 2013, a company having net worth of rupees five hundred crore or more (approximately $56 million) or turnover of rupees one thousand crore or more (approximately $105 million) or a net profit of rupees five crore or more (approximately $1 million) during the immediately preceding financial year will be required to constitute a Corporate Social Responsibility (CSR) Committee of the board of directors and spend at least 2% of their average net profit for the immediately preceding three financial years on CSR. The CSR committee should consist of three or more directors, at least one of whom will be an independent director, and the company should have a CSR policy approved by the Board. Consequent to the requirements of the Indian Companies Act, 2013, approximately $70 million was contributed towards corporate social responsibility activities during fiscal 2026. The ability of our technology professionals to work in the United States, Europe and in other countries depends on the ability to obtain the necessary visas and work permits as described in Item 3 – Risk Factors. LEGAL PROCEEDINGS Government Investigation The U.S. Department of Justice (“DOJ”) is conducting an investigation regarding how the Company classified certain H-1B visa-recipient employees in immigration documents filed with certain U.S. government authorities. The Company is engaged in discussions with the DOJ regarding its ongoing investigation and continues its own inquiry regarding the matter. At this stage, the Company is unable to predict the outcome of this matter, including whether such outcome could have a material adverse effect on the Company’s business and results of operations. Others Apart from the foregoing, the Group is subject to legal proceedings and claims which have arisen in the ordinary course of business. The Group’s management reasonably expects that such ordinary course legal actions, when ultimately concluded and determined, will not have a material and adverse effect on the Group’s results of operations or financial condition. ORGANIZATIONAL STRUCTURE Refer to Note 2.20, Related Party transactions under Item 18 of this Annual Report on Form 20-F for details about our subsidiaries. D.PROPERTY, PLANT AND EQUIPMENT The campus of our corporate headquarters is located at Electronics City, Bengaluru, India. Infosys Electronics City consists of approximately 4.7 million square feet of land and 6.5 million square feet of operational facilities. The campus features, among other things, an Education, Training and Assessment unit, a Management Development Center and extensive state-of-the-art conference facilities. Additionally, we have leased facilities measuring approximately 380,000 square feet in Electronics City which accommodate approximately 5,000 employees. Our capital expenditure on property, plant and equipment for fiscal 2026, 2025 and 2024 was $306 million, $263 million, $266 million, respectively. All our capital expenditures are financed out of cash generated from operations. As of March 31, 2026, we had contractual commitments for capital expenditure of $141 million. Our software development facilities are equipped with a world-class technology infrastructure that includes networked workstations, servers, data communication links and videoconferencing. Currently, we have presence in 290 locations across 59 countries. Appropriate expansion plans are being undertaken to meet our expected future growth. Our most significant owned and leased properties are listed in the table below. Location Building Approx. Sq. ft. Seating capacity Ownership Land Approx. Sq. ft. Ownership Software Development Facilities Bengaluru (Infosys E City), Karnataka 6,508,049 37,590 Owned 4,736,303 Owned Bengaluru Sarjapur & Billapur, Karnataka — — — 15,510,208 Owned Bhubaneswar (Chandaka Industrial Park), Orissa 1,375,898 4,383 Owned 1,999,455 Leased Bhubaneswar (Info Valley Goudakasipur & Arisol), Orissa 1,264,774 4,532 Owned 2,218,040 Leased Chandigarh (SEZ Campus) 1,135,580 2,546 Owned 1,316,388 Leased Chennai (Sholinganallur), Tamil Nadu 532,079 4,502 Owned 569,549 Leased Chennai (Maraimalai Nagar), Tamil Nadu 3,639,091 20,159 Owned 5,617,084 Leased Hyderabad (Manikonda Village), Andhra Pradesh 2,018,050 12,354 Owned 2,194,997 Owned Hyderabad (Pocharam Village), Andhra Pradesh 5,665,549 31,636 Owned 19,715,768 Owned Mangalore (Pajeeru and Kairangala Village), Karnataka 2,307,393 6,715 Owned 15,747,394 Owned Mysore (Hebbal Electronic City), Karnataka 12,401,394 15,797 Owned 15,362,340 Owned Pune (Hinjewadi), Maharashtra 537,548 3,805 Owned 1,089,004 Leased Pune (Hinjewadi Phase II), Maharashtra 5,947,889 32,092 Owned 4,987,787 Leased Pune (Ascendas SEZ), Rented Building Maharashtra 1,029,206 9,248 Leased — — Thiruvananthapuram, Attipura Village, Kerala 2,739,655 10,735 Owned 2,184,543 Leased Jaipur (M-City), Rajasthan 780,655 7,143 Owned 1,829,527 Leased Jaipur (Mahindra World City), Rajasthan — — — 6,452,568 Leased Nagpur - Dahegaon Village (SEZ campus) 355,753 2,317 Owned 6,193,211 Leased Indore - Tikgarita Badshah & Badangarda Village (SEZ campus) 351,758 2,211 Owned 3,488,298 Leased Hubli - Gokul Village (SEZ campus) 363,817 1,573 Owned 1,875,265 Leased Noida - Plot No A-1 to A-6 Sector 85 844,945 6,200 Owned 1,201,346 Leased Mohali Plot No I-3 Sector 83 A IT City SAS Nagar 19,430 191 Owned 1,350,365 Leased Sira Taluk, Tumakur District 48,787 — Owned 15,303,777 Owned Kolkata- New Town 314,151 2,259 Owned 2,178,009 Owned Indianapolis USA Northwest Quarter Sec 23&24th Morion County 170,200 842 Owned 2,362,573 Owned Shanghai Infosys Technologies (Shanghai) Co. Ltd(1) 1,057,985 4,756 Owned 657,403 Leased (1)The nature of the ownership is that of a land use right. Note: The above table includes buildings of over 500,000 sq. ft. or land over 440,000 sq. ft. including buildings on these lands. Item 4 A. Unresolved Staff Comments None.