Company Overview Wipro Limited is a leading AI powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network, part of the Wipro Intelligence™ suite, underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 240,000 employees and business partners across six continents, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. History and Development of the Company Wipro was incorporated on December 29, 1945, as Western India Vegetable Products Limited under the Indian Companies Act, VII of 1913, which was superseded by the Companies Act, 2013. Today, Wipro is a public limited company deemed to be registered under the Companies Act 2013, and is registered with the Registrar of Companies, Bengaluru, Karnataka, India as Company No. 20800. In 1946, we held our initial public offering in India of our equity shares. In October 2000, we raised capital in the initial U.S. public offering of ADSs that were listed on the NYSE. We are listed on the NSE and BSE in India and Wipro’s ADSs are listed on the NYSE. Wipro is a constituent of the Nifty 50 and the NYSE TMT Indices. Our registered office is in Bengaluru, India. The senior management operates from local offices in key regions of operations such as North America, Europe, the United Kingdom, Australia, Latin America, and Asia as well as from Bengaluru, India. We began business as a vegetable oil manufacturer in 1945 in Amalner, Maharashtra, India and later expanded into manufacturing soaps and other consumer care products. During the late 1970s and early 1980s, under the leadership of Azim H. Premji, the Company further expanded into the IT industry in India. We began selling personal computers in India in 1985. In the 1990s, the Company leveraged its hardware expertise and began offering software services to clients across the world. During the 2000s, our IT business scaled significantly by acquiring new clients, scaling relationships with existing customers and acquiring capabilities in emerging technologies, assets in focus markets and local talent in new geographies. In 2013, we demerged our non-IT business segments to focus solely on our IT business. Over the last few years, we transformed our services portfolio in response to evolving client needs and technological advancements. We strengthened our focus on areas such as digital, cloud, engineering services and cybersecurity through a combination of investments and acquisitions. During this period, we also expanded our service offerings in digital strategy, customer-centric design, consulting, infrastructure services, business process services, research and development (“R&D”), cloud services, mobility, advanced analytics and product engineering. We offer our customers a variety of commercial models including time and material, fixed-price, capacity based, pay-per-use, as-a-service, and outcome-based models. We offer such services and models globally by leveraging our proprietary products, platforms, partnerships and solutions. Our logo represents the deep connectedness between people, ideas, communities and the environment. We believe the synergy among these various elements is what drives transformation at Wipro. Our brand promises to bring a pioneering, entrepreneurial, innovative spirit to solve complex business problems for our customers. The Spirit of Wipro is at our core, and it continues to guide our actions, fuel our passion for serving our customers, and encourage us to drive positive change in our world. We believe in exploring limitless possibilities when our customer’s ambition meets the action of our innovative and talented workforce. These values are our bedrock. Our character and destinies are energized by our values: •Be passionate about clients’ success; •Treat each person with respect; •Be global and responsible; and •Have unyielding integrity in everything we do. While our Company has transformed many times over the years, the Spirit of Wipro and our core values have remained constant. We have introduced the “Five Habits”, which are our values in action: •Being respectful; •Being responsive; •Always communicating; -31- Table of Contents •Demonstrating stewardship; and •Building trust. Our business is comprised of the IT Services and IT Products segments. Our IT Services segment consists of four Strategic Market Units (“SMUs”) and four Global Business Lines (“GBLs”). The four SMUs are Americas 1, Americas 2, Europe, and Asia Pacific, Middle East, and Africa (“APMEA”). During the year ended March 31, 2026, our four GBLs were Technology Services, Business Process Services, Consulting Services and Engineering. Our GBL model reflects the Company’s continued pivot toward strategic areas and its focus on leveraging the power of “One Wipro” to deliver on our clients’ entire spectrum of business and technology transformation goals. We believe our GBL model will allow us to accelerate speed-to-market, streamline decision making and allow us to channel investments more effectively and efficiently. We organize our customer-facing functions of sales, marketing and business development into teams that focus primarily on the four SMUs and service offerings, enabling us to deliver services to customers based on deep domain insight. Our customer-facing functions in each SMU are predominantly locally staffed. There has not been any indication of any public takeover offers by third parties in respect of the Company’s shares or by the Company in respect of other companies’ shares during the last and current fiscal years. Wipro Limited’s registered office is located at Doddakannelli, Sarjapur Road, Bengaluru, Karnataka 560 035, and the telephone number of the registered office is +91-80-28440011. Our website is https://www.wipro.com. The name and address of Wipro’s registered agent in the United States is CT Corporation System, located at 28 Liberty Street, New York, New York 10005. The SEC maintains a website at www.sec.gov that contains reports, proxy and information statements, and other information regarding registrants that make electronic filings with the SEC using its EDGAR system. Capital Expenditures and Divestitures Acquisitions (“M&A”) In the last three fiscal years, we have completed several mergers and acquisitions, including the acquisitions of: •A 100% equity interest in Digital Transformation Solutions unit of Harman International Inc. which is Harman Connected Services Inc. and its subsidiaries and certain other assets (together, “DTS”), a global provider of Engineering, Research and Development (“ER&D”) services and IT services; •A 100% equity interest in Applied Value Technologies, Inc., Applied Value Technologies B.V. and Applied Value Technologies Pte Limited (“AVT”). AVT helps enterprises transform IT operations through a highly customized and data-driven approach; and •A 60% equity interest in Aggne Global Inc. and Aggne Global IT Services Private Limited ("Aggne"), a leading consulting and managed services company serving the insurance and insurtech industries. Aggne is a leading alliance partner of Duck Creek Technologies, which is a market-leading platform for property and casualty insurance; Please see Note 7 of the Notes to the Consolidated Financial Statements for additional information regarding our acquisitions. Additionally, in April 2026 we announced that the Company signed definitive agreements for the following acquisitions: •We completed our acquisition of Mindsprint, Olam Group’s IT services arm, a provider of technology and digital transformation services in May 2026 for a total consideration of U.S.$ 375 million. •The acquisition of select customer contracts of Alpha Net Consulting, a provider of enterprise software development, data engineering, and managed services for a total consideration (including earnouts) of U.S.$ 70.8 million, subject to customary closing conditions, which is expected to be concluded by quarter ending June 30, 2026. Divestitures There were no divestitures during the years ended March 31, 2024, 2025 and 2026. -32- Table of Contents Capital Expenditure We incurred total cash outflow of ₹ 10,510 million,₹ 14,737 million and ₹ 15,603 million during the fiscal years ended March 31, 2024, 2025 and 2026 respectively. We incurred these capital expenditures primarily on new software development facilities in India and investments in IT assets. As of March 31, 2026, we had contractual commitments of ₹ 9,416 million related to capital expenditures on construction or expansion of software development facilities and investments in IT assets. Industry Overview IT Services According to the Strategic Review 2026 published by the National Association of Software and Service Companies (“NASSCOM” and such publication, the “NASSCOM Report”), global IT services spending grew year-over-year by 4.6% in calendar year 2025 despite macroeconomic uncertainty and muted enterprise budgets. Growth was driven by the industrialization of AI, continued digital and cloud transformation, and sustained demand for cybersecurity and data services, with AI reshaping operating models and talent requirements rather than driving broad displacement. Sustainability initiatives remained largely compliance‑driven. Heightened regulatory focus across economies has re-shaped our service models and data practices, positioning data and technology governance and controls as critical to market access and differentiation. Global Capability Centers expanded alongside service providers, while IT and business process management convergence enabled more intelligent, outcome‑linked operations and services continued to evolve toward more intellectual property (“IP”) led, productized and outcome-linked models. Global IT service providers are equipped to support enterprises across industries with a wide range of technology and business process services powered by AI across advisory, application development, customer centric design, cybersecurity, cloud infrastructure, data and analytics, engineering and research and development. We expect the IT services industry to continue supporting enterprises across key areas such as enterprise AI and data modernization, scaling AI adoption, cost optimization, vendor consolidation, cyber resilience, process re-engineering, customer experience, innovation in products, services and talent strategies for an AI-first world. According to the NASSCOM Report, revenue for Indian IT services sector is expected to grow 4.1% year-over-year in fiscal year 2026. Growth is being driven by enterprise-wide AI adoption, data center investments and the expansion of GCCs. Enterprises are embedding AI across operations, increasing datacenter capacity demand, and pivoting to AI industrialization with domain-centric platforms. Future growth will hinge on AI readiness, deep domain expertise, and access to niche skills rather than volume-based hiring. The NASSCOM Report estimates ER&D services to grow by 7.7% year-over-year in fiscal year 2026. This growth is driven by modernization of ER&D stack through platform-driven, software-enabled models, alongside increased investment in semiconductors and advanced technologies. ER&D services expanded across the full phygital product lifecycle with co-creation of physical IP via digital twins, internet of things (“IoT”) and generative AI (“GenAI”) to drive design-to-manufacturing transformation. The focus will shift from scale to deeper engineering expertise and IP ownership, with growth powered by domain-specific centers of excellence , pod-based delivery, and reusable accelerators for faster time-to-market According to the NASSCOM Report, in calendar year 2026 global IT services’ spending will accelerate to 4.2% year-over-year, driven by rising AI investments focused on scalable deployments and ease in tariff and trade pressures. Enterprises are moving beyond AI pilots towards phased GenAI and agentic scaling, anchored in measurable outcomes. Growth will be sector-specific driven by depth of industry expertise, advanced AI capabilities and ability to attract AI native talent. Industry strategies are likely to consolidate around core strengths while differentiating through platform‑led offerings, services-to-solutions models, AI-led delivery models with agentic abilities, outcome‑based pricing, micro‑verticalization, and selective M&A. Hiring will shift from volume to skills, emphasizing AI fluency, domain expertise, and productivity-based workforce models. While the outlook favors vendors that can combine cost-efficient modernization with scaled AI delivery with measurable outcomes, near-term caution may persist due to uncertain geopolitical environment impacting discretionary spending. This is further augmented by pricing pressure driven by competitive intensity and AI-driven productivity expectations, heightened execution and accountability risk and capability bottleneck in skilled AI talent. IT Products According to the NASSCOM Report, the revenue for the Indian IT hardware segment is expected to reach U.S.$ 21 billion in fiscal year 2026, with the market estimated to grow by approx. 11% compared to fiscal year 2025, driven by localized innovation, government‑led design and manufacturing initiatives, and expanding digital infrastructure, with additional momentum from electrification, clean‑tech programs, and a deep‑tech ecosystem creating new engineering‑led opportunities. -33- Table of Contents Business Overview Celebrating more than 80 years of innovation, Wipro is a purpose-driven, global technology services and consulting firm employing over 240,000 experts in 65 countries across six continents helping customers, colleagues, and communities thrive in an ever-changing world. We are recognized globally for our strong commitment to improve the communities we live and work in. The economic interest of two-thirds of Wipro shares is earmarked for philanthropy through the Azim Premji Foundation working towards developing a just, equitable, humane, and sustainable society. We are globally appreciated for our unwavering commitment to sustainability. As a founding member of 'Transform to Net Zero', Wipro aims to achieve the goal of zero-carbon emissions worldwide by 2040. Our vision is to be a trusted partner for our clients, guiding them through their transformation journey with a consulting-led and AI-powered approach, and empowering them to become leaders in their industries. As part of our solutions, we bring together our deep industry knowledge, technology expertise, best-of-breed partners and start-ups, and hyper-scaler capabilities to solve the most complex problems for our clients. At Wipro, we believe AI is a transformative force that will augment human capabilities and pave the way towards new AI-first business models, improve business productivity and enhance operational efficiency. Wipro’s goal is to be an “AI first” and “AI in everything” company helping transform ourselves and our clients. Our IT Services segment provides a range of AI-powered IT and IT-enabled services including AI advisory, industry & functional consulting, AI native development, customer centric design, modernization, custom application development, infrastructure services, cybersecurity services, data and analytics services, business process services, R&D, and hardware and software design. Our IT Products segment provides a range of third-party IT products including computing platforms and storage, networking solutions, enterprise information security, and software products such as databases and operating systems. These products allow us to offer comprehensive IT system integration services as a complement to our IT services offerings. Our focus continues to be on consulting and digital engagements while taking a more selective approach to bidding for system integration engagements. Our Business Strategy Our strategy is defined in the context of our five strategic priorities: 1.Building Large Accounts in Profitable Markets, Prioritized Sectors We drive growth in our core markets across the Americas, Europe and APMEA. In each market, we have prioritized specific sectors such as “Banking, Financial Services and Insurance” (“BFSI”), “Consumer”, “Health”, “Energy, Manufacturing and Resources” (“EMR”), and “Technology and Communications” to drive market leadership with our consulting-led approach. Our choice of sectors and industries in a market is driven by both market attractiveness and our competitive positioning and strengths. We remain committed to investing and scaling our large accounts by driving greater value, increasing wallet share and positioning ourselves as strategic partners across client priority areas. In addition, we are focusing on untapped clients presenting new business opportunities within our prioritized sectors to drive account growth while strengthening relationships, increasing profitability, and fostering long-term growth. 2.Sourcing, Shaping and Winning Large Deals with a Consulting-led, AI-powered Approach We are focused on accelerating our growth by securing large deals by leveraging our strong relationships with advisors, partners, and other ecosystem stakeholders. We continue to drive rigor and focus by investing in dedicated pursuit teams in our units, enabling them with differentiated solutions, propositions, and commercial constructs. We are driving strategic programs with our partners to create large transformational opportunities and accelerate demand in prioritized sectors. We continue to co-invest, co-innovate, and co-create with our partners to deliver leading-edge solutions and business value across technologies like AI and GenAI, machine learning, industry and context-specific digital solutions, industry cloud, cloud-led transformation and cloud-native architectures. Our AI and cloud transformative innovation is being done collaboratively at our global innovation studios and centers. Our top strategic partners include hyperscalers, industry-leading platforms, and AI-native companies like Amazon Web Services, Microsoft, Google, IBM, SAP, ServiceNow, and NVIDIA. -34- Table of Contents We are also bringing cutting edge capabilities from the ecosystem to our clients through our Wipro Ventures investments in early to mid-stage start-ups. We continue to invest in Enterprise Software startups that are aligned with Wipro’s strategic priorities. Our investments in AI enable clients to adopt agentic workflows, enhance cyber resilience, and advance modern software engineering practices. As of March 31, 2026, Wipro Ventures manages 26 active investments. In addition to direct equity investments in emerging startups, Wipro Ventures has invested in 12 enterprise-focused venture funds: B Capital, Boldstart Ventures, Glilot Capital Partners, GTM Fund, Nexus Venture Partners, Pi Ventures, Redglass Ventures, Sapphire Ventures, Sorenson Ventures, SYN Ventures, TLV Partners, and Work-Bench Ventures. 3.Differentiating with Wipro IntelligenceTM We take a consulting-led, AI-powered approach to deliver holistic solutions for our clients through Wipro Intelligence™ - Our unified suite of platforms, solutions, and transformative offerings - empowering enterprises to scale with confidence and lead in an AI-first world. Wipro Intelligence™ focuses on delivering proof over promise, empowering enterprises to run, build, and reimagine with AI for sustained competitive advantage. Through close collaboration with partners, ventures, and leading research institutions, Wipro Intelligence™ is designed to enable clients to experiment, adapt, and scale rapidly, while embedding productivity gains, assuring outcomes, and establishing responsible AI guardrails. Our suite of platforms, solutions and offerings include: •Run AI, powered by WINGS, our AI-powered delivery platform, designed to transform IT and business operations; •Build AI, powered by WEGA, our agentic platform for all build & transform; and •Reimagine AI, comprised of: •Our Industry Platforms that are targeted at specific industry needs such as NetOxygen (AI powered lending platform), Aviation platforms CROAMIS (Integrated cargo operations) and TOPS (Flight and crew operations). •Our AI solutions that are targeted at solving a specific client business challenge across and within specific industries. These include AutoCortex, designed to help accelerate transformation towards software-defined, autonomous vehicles, WealthAI, enabling clients to reimagine the wealth value chain across the front, middle and back office, and Telco Autonomous Network Operations, enabling Level 4 or 5 network autonomy for telecommunication companies (“Telcos”). Our AI initiatives are supported by Wipro Innovation Network—our global ecosystem of labs, partners, start‑ups, academia, and deep‑tech talent to identify, incubate and co create high-impact, high-priority use cases. With our consulting-led approach, we combine industry domain knowledge with AI-first transformation principles to support strategic priorities of our clients. Wipro’s consulting arm integrates expertise from in-house domain experts and strategic acquisitions, enhanced by our local delivery capabilities. 4.Building Talent at Scale We are committed to nurturing a diverse and global talent pool specializing in industry domain, consulting, design, market development, and technology. Our senior leadership team across markets, global business lines, and functions reflects diversity with a balanced mix of lateral hires and internally promoted high-performing leaders. We are cultivating exceptional leadership through our Wipro Leadership Institute, helping leaders reinvent themselves, transform their teams and organizations by building knowledge, skills, and behavior to achieve bold ambitions. Through accelerated learning journeys and tailored programs like PRISM and GAP, we nurture a unified Wipro mindset centered on client success. We continue to invest in building capabilities aligned to business solutions in areas such as consulting, strategy, architecture, and domain and leading technologies such as AI, GenAI, data sciences, cybersecurity, and engineering. To grow our talent, we are upskilling and reskilling them in client relevant areas through practices and account academies and digital learning platforms. We are also working with our partner ecosystem to enable skilling through certifications and hands-on learning on their platforms. We are scaling AI capabilities through an enterprise‑wide skilling framework designed to embed AI literacy across roles while developing advanced expertise. Our AI Master’s program builds a focused cadre of specialists with deep technical, domain, and responsible AI capabilities. Together, these efforts strengthen our ability to improve productivity, accelerate innovation, and deliver differentiated, AI‑enabled outcomes for clients. -35- Table of Contents We are actively building an AI-ready workforce covering over 240,000 employees by fostering an AI-first mindset and equipping them with essential AI skillsets and toolsets. We have enabled over 180 AI learning pathways tailored to varied proficiency levels for our business and technical associates. We aspire to excel in AI technologies and drive AI-innovation, service delivery transformation and efficiency. Across our delivery teams, we have over 60,000 associates leveraging AI developer tools, boosting our overall productivity. In addition, we have dedicated mentoring programs for succession planning, and we continue to practice function rotation for better business understanding. We have enabled an AI-driven career planning, learning and mentoring platform, iAspire, that offers recommendations on learning journeys based on the employee’s skillset, experience, and career aspirations. We continue to drive a culture of performance, ambition and business growth supported by the Spirit of Wipro, the Five Habits, and the Wipro Leadership Mindset. Our Five Habits are our values in action, making our work environment more inclusive and cohesive, helping build trust and camaraderie, and driving a growth mindset. Our unflinching commitment to integrity and strong culture of ethics enable us to fulfil our commitment and build trust with our clients and investors. 5.Five Pillars of Client Centricity We are deeply committed to solving business problems for our clients. The client-first mindset is core to our strategy that is driven by five key pillars: •Delivery innovation through infusion of AI, GenAI and our delivery platforms; WINGS embeds AI in operations from application management to infrastructure support and business process operation. WEGA adds AI-driven capabilities across the development lifecycle from vibe coding to model tuning and data pipeline •Driving delivery excellence through early risk detection (alerts), proactive mitigation, and strong governance to ensure client satisfaction; •Delivery-led growth with delivery teams engaged in opportunities to cross-sell and up-sell within existing client engagements such as proactive proposals, change requests, etc. •Demand fulfilment by forecasting requirement for high growth areas, ensuring talent availability through tailored account and practice academies, resulting in efficient utilization and volume growth; and •Delivery operations promoting an employee-led rotation culture, optimizing bench and mobility, accelerating intake and deployment. Our growth will be supported by our focus on AI and M&A Through “AI-powered Wipro” we aim to build AI-first leadership mindsets, enhance employee AI skillsets, and empower teams with advanced AI technologies and tools while being custodians of responsible AI usage. Through M&A, we aim to capture high-potential market opportunities aligned with our priority areas. We believe our strategic acquisitions in the U.S., Europe, and APMEA have strengthened our presence, enhanced our capabilities, and improved our market positioning. Operating Segment Overview Our business is comprised of the IT Services and IT Products segments. Our revenues for the last three fiscal years by business segment are as follows: Year ended March 31, 2024 2025 2026 (₹ in millions) IT Services 893,816 888,224 921,153 IT Products 4,127 2,692 6,940 897,943 890,916 928,093 For the fiscal year ended March 31, 2026, the IT Services segment generated 99.3% of our revenue and 104.9% of our operating income. For the same period, the IT Products segment generated 0.7% of revenue and 0.4% of operating income, and Reconciling Items constituted (5.3%) of our operating income. -36- Table of Contents Our revenues for the last three fiscal years by country are as follows: Year ended March 31, 2024 2025 2026 (₹ in millions) India 23,484 20,699 23,446 United States of America 512,740 529,943 553,186 United Kingdom 108,613 95,241 97,041 Rest of the world 253,106 245,033 254,420 897,943 890,916 928,093 Additionally, we provide our IT Services segment revenue and results by SMUs. Please refer to Note 33 of the Notes to Consolidated Financial Statements for additional information regarding our segments. IT Services Offerings Effective April 1, 2025, we have re-aligned our GBLs into Technology Services, Business Process Services, Engineering, and Consulting. We believe this re-alignment allows us to serve our clients better and deliver more tailored, high-impact transformation through consulting-led and AI-powered platforms and solutions. Technology Services Our Technology Services GBL delivers cutting edge cloud-enabled and industry-specific technology solutions to our clients. We offer clients forward-looking, AI-powered solutions for large-scale enterprise transformation by bringing together intelligence insights, enterprise data and applications platforms, digital operations, cybersecurity, and design and experience services. This GBL is designed to strengthen the sales-to-delivery continuum and institutionalize integrated service line go-to-market and delivery and includes: •Cloud, Infrastructure and Security Services (“CISS”): As a security-first digital transformation, Wipro CISS brings together integrated Cloud, Infrastructure, Network, Digital Workplace, and Cybersecurity capabilities, through our consulting-led AI-powered approach powered by Wipro Intelligence to deliver secure growth, resilience, and superior experiences. We enable organizations to design, build, and operate resilient, digital foundations anchored in AI transformation, trust, and safety. Organizations partner with us to deliver security first, AI powered digital transformations at scale – that enable resilient, future ready enterprises. •Industry Cloud & Digital (“IC&D”): IC&D partners with organizations to integrate strategy, design, and technology, providing digital transformation services. IC&D offers a range of services, including enterprise transformation, application modernization, quality engineering, testing, and cloud-native platform services using AI and industry expertise to assist clients throughout their cloud journey. Together with our extensive partner and hyperscaler ecosystem, we can simplify, orchestrate and accelerate the cloud journey for our clients to help them thrive. •Enterprise Applications (“EA”): Our EA team guides enterprises on their journey towards application modernization and experience transformation by providing innovative AI, cloud solutions, and architecture strategies, and executing these strategies through the expertise of our enterprise partners, such as SAP, Oracle, Salesforce, ServiceNow, and MS Dynamics. •Data, Analytics, and Artificial Intelligence (“DAAI”): DAAI helps clients in their business transformation and generates higher value by infusing data and AI across the value chain. We work with clients to get their data and process ready for the future by formulating the data to decisions strategy and using business analytics and data economics. These benefits are accelerated by industry and persona-centric ready-to-deploy solutions that are powered by responsible AI. •Designit: Designit provides end-to-end experience transformation solutions that better connect brands, organizations, and businesses to their end users through a global team of designers, strategists, marketers, and creatives. We partner with clients across four key lenses of experience – product, customer, employee, and marketing –to design unified, human-centered solutions that drive lasting impact Business Process Services Wipro’s Business Process Services support global organizations in operating, transforming, and continuously improving core enterprise functions. Business Process Services are delivered as part of Wipro’s consulting-led, AI-powered operating model, which combines advisory capabilities, AI-enabled solutions, and execution services to provide end to end accountability across enterprise functions. -37- Table of Contents Business Process Services leverage Wipro Intelligence™, Wipro’s suite of AI powered solutions and platforms, to embed AI systematically across business processes. This approach supports intelligent automation, predictive insights, and continuous improvement aligned to defined business outcomes. •Customer Experience: Wipro’s Customer Experience services support customer engagement, service, sales, and marketing operations. These services integrate front office operations with AI-enabled capabilities to improve speed, accuracy, and consistency across customer interactions, supporting customer experience and loyalty across channels. •Supply Chain Management: Wipro supports procurement and supply chain operations through supplier optimization, analytics, and operational execution. These services focus on improving efficiency, visibility, and cost management across end-to-end procurement and supply chain processes. •Talent Processes: Wipro’s human resources services support talent acquisition, workforce management, employee development, and people engagement. These offerings enable clients to manage HR operations with agility, compliance, and operational consistency across the employee lifecycle. •Finance and Accounting: Wipro supports finance and accounting operations through services covering financial planning, reporting, risk management, and compliance. These offerings leverage automation and data driven insights to improve financial transparency, operational efficiency, and decision making. •Trust and Safety: Wipro’s trust and safety services support organizations in maintaining platform integrity and managing digital risk. Services include content moderation, compliance review, policy advisory, fraud and payment risk management, and investigations. •Industry Offerings: Wipro provides industry specific process services to sectors including banking and financial services, insurance, healthcare, manufacturing, consumer and media, energy, communications, and technology. These offerings are tailored to address industry specific operational requirements and regulatory considerations. Engineering Wipro Engineering aims to empower clients to innovate at scale, build differentiated products and platforms, and deliver value across the full product and platform lifecycle through our consulting-led and AI-powered engineering approach. Our capabilities span foundational technologies shaping global industries today, including AI, connectivity and 5G, semiconductor and system engineering, cloud platforms, and intelligent manufacturing. Our engineering approach emphasizes measurable outcomes and deployed solutions, combining consulting‑led problem definition with AI‑powered execution to deliver tangible results to clients. This ecosystem spans a wide portfolio that includes a strategic product design capability, a global semiconductor and systems engineering organization, and world‑class testing and validation laboratories. Our sector‑focused consultants, engineers, and product designers work collaboratively across multiple stages of the product lifecycle-from strategy and architecture through design, development, validation, deployment, and lifecycle management. Wipro Engineering operates through the following practices: •VLSI and System Design: Designs and engineers custom silicon and hardware systems for advanced computing and digitally connected products. Capabilities include application‑specific integrated circuits, system‑on‑chip design, pre‑ and post‑silicon validation, embedded software, and advanced interconnect technologies, supporting semiconductor companies and product manufacturers across automotive, industrial, communications, and emerging technology segments. •Mobility Engineering & Product Testing: Enables development and validation of intelligent, connected, and mobile products. This practice provides embedded and platform software engineering, AI‑driven mobile solutions, and comprehensive product testing, certification, and compliance services, supporting faster time‑to‑market and regulatory readiness across devices and platforms. •Connectivity: Enables innovations across wireless, 5G, and enterprise connectivity ecosystems. This practice delivers consulting‑led engineering services for 5G infrastructure, open radio access network integration, network disaggregation, edge and Telco cloud platforms, network automation, software integration, and device and network certification and testing. •Cloud Products and Platforms: Enables customers to design, build, and modernize cloud‑native software products and platforms. Capabilities include product and platform engineering, cloud modernization, reliability and DevOps engineering, data engineering, and security, supporting scalable, multi‑tenant, and high‑performance SaaS and platform solutions across hybrid and multi‑cloud environments. -38- Table of Contents •Industry 4.0: Enables digital transformation of industrial products and operations through smart manufacturing solutions. This practice focuses on industrial IoT, robotics and physical automation, digital twins, predictive maintenance, sustainability, and integrated operational platforms, combining domain consulting with deep engineering execution across discrete and process industries. •Automotive Engineering: Supports automotive manufacturers and suppliers in the transition to next‑generation mobility. This practice provides consulting‑led engineering services across software‑defined vehicles, electrification, connected vehicles, advanced driver assistance systems, infotainment platforms, and autonomous functions, leveraging AI‑enabled platforms and partner ecosystems to accelerate innovation and product deployment. •Connected Services: During fiscal year 2026, Wipro expanded its digital and ER&D capabilities through the acquisition of DTS, now operating as Connected Services within Wipro Engineering. The acquisition deepens Wipro Engineering’s AI‑powered engineering, digital transformation, and research and development excellence, strengthening its ability to deliver end‑to‑end engineering services that connect the physical and digital worlds. Consulting Wipro Consulting partners with clients to help our clients to imagine, design, and realize their future. We work to deliver strategic and transformation services by engaging deeply with the full C‑suite, connecting strategy to execution to drive measurable business outcomes. Our end‑to‑end capabilities are designed to address our clients’ most pressing priorities, enable cross‑functional transformation, and ensure outcomes are aligned to enterprise objectives. We help clients tackle their most complex challenges by combining deep industry insight, functional expertise, and the power of technology. Our consulting‑led, AI‑powered approach leverages Wipro’s platforms, solutions to drive intelligent transformation. Supported by a strong ecosystem of technology partners, we help clients unlock efficiency, build competitive advantage, and navigate disruption with confidence. •Wipro Domain and Consulting: Domain and Consulting brings our deep industry focus and product/platform expertise to provide end-to-end business transformation acceleration – from insights to results – and helps shape the next generation operating models. We are a preferred transformation partner of global Fortune 500 companies across industries. •Capco: Capco is a technology and management consultancy specializing in driving digital transformation initiatives by combining innovative thinking with unrivaled industry knowledge to deliver end-to-end data-driven solutions and fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. It offers a range of consulting services including strategy, risk, regulatory and compliance, and change management. •Aggne: Aggne is a leading consulting and managed services company serving the insurance and Insurtech industries. Its unique capabilities significantly strengthen our value proposition in a fast-growing part of the insurance sector. We serve clients across BFSI; EMR; Health; Consumer; and Technology and Communications bringing deep functional expertise across Supply Chain and Operations, Finance, People and Change, Sales, Marketing and Customer Experience (CX), AI Advisory and Technology Strategy, and Sustainability: •Banking, Financial Services and Insurance: Strengthen risk and compliance, accelerate digital banking and wealth innovation, and enhance customer experience to build financial resilience. •Energy, Manufacturing and Resources: Modernize grids, advancing Industry 4.0, optimize asset performance, and enable sustainable operations across the value chain. •Health: Enable predictive healthcare, accelerate R&D, improve operational efficiency, and advance patient‑centric models. •Consumer: Elevate omnichannel experiences, drive pricing intelligence, and optimize demand forecasting to fuel growth and loyalty. •Technology and Communications: Accelerate 5G adoption, modernize digital infrastructure, and transform network operations – powered by AI for the next era of connectivity. Beyond industry expertise, our deep functional capabilities help ensure transformation delivers lasting impact to both the top and bottom line. •Supply Chain and Operations: Build resilient, agile supply chains and intelligent procurement capabilities end to end. •Finance Transformation: Increase transparency, strengthen performance analytics, and enable sustainable profitability. -39- Table of Contents •People and Change: Enable workforce adaptability, future skills, leadership development, and culture transformation for a future‑ready organization. •Sales, Marketing and Customer Experience: Redefine pricing, elevate customer engagement, and accelerate revenue growth. •AI Advisory and Technology Strategy: Shape AI‑first, future‑ready technology roadmaps aligned to business strategy. •Sustainability: Embed ESG into core business strategy to drive long‑term resilience and stakeholder value. AI-Native Business & Platforms Unit On April 1, 2026, we launched a dedicated AI-Native Business & Platforms Unit to complement our services business. This unit positions us to build & scale AI-led platforms and incubate new AI-led businesses, enabling Wipro to deliver tangible value to clients and drive stronger business outcomes. IT Services Clients We service clients from a broad array of industry sectors. Several of our clients engage our services across multiple service offerings. We seek to increase business with our existing clients by expanding the type and range of services we can provide to them. The table below sets forth the number of our clients as measured by revenues. Number of clients in Year ended March 31, Per client revenue (U.S.$) 2024 2025 2026 1-3 million 332 318 324 3-5 million 108 109 102 5-50 million 256 245 244 50-100 million 23 27 29 > 100 million 22 17 16 Total > 1 million 741 716 715 The largest client of our IT Services business accounted for 3.0%, 4.3%, and 4.6% of revenues from the IT Services business as a whole for the years ended March 31, 2024, 2025 and 2026 respectively. The five largest clients of our IT Services business accounted for 13.0%, 14.0%, and 14.3% of our total IT Services revenues for the years ended March 31, 2024, 2025, and 2026, respectively. IT Services Sales and Marketing: Wipro sells technology services in 65 countries through locally staffed sales teams aligned with specific industries and geographies. Our sales teams including Global Account Executives (“GAEs”), serve as trusted partners to our clients in their transformation journeys. We combine global expertise with local know-how and a business-led, client-centric approach to support our clients’ businesses, leveraging latest technologies and innovations. Through AI-powered, consulting-led solutions, we help our clients transform their businesses to drive better efficiencies and generate new growth opportunities. Our success as trusted partners to our clients is dependent on: •Unrelenting focus on our clients’ ambitions: Our sales teams seek to understand our clients’ most consequential challenges and help them overcome them in ways that go beyond what they imagined for themselves. This includes orchestrating across Wipro and our ecosystem of partners to create futuristic solutions with clear business outcomes. •Infusing AI into every part of our organization and processes and solutioning for clients: We have infused AI into every solution, tool, and process across the Company. Our ai360 strategy is at the very core of how we aim to transform our and our clients’ business and change the game through AI-powered, industry and cross-industry solutions. •Delivering added value through an ecosystem of partnerships: We have strategic partnerships with some of the world's most respected technology companies, such as AWS, Google, Microsoft, Salesforce, and SAP, which allow us to stay ahead of market changes, train and develop our people on the latest emerging technologies leveraged by these partners, and bring to market unique solutions that support our clients’ biggest ambitions. -40- Table of Contents •Investing in the future of tech innovation: Through our venture arm, Wipro Ventures, we identify and invest in high-potential early-stage start-ups that are at the forefront of technological innovation and allow us to deliver differentiated value to clients. The Wipro Ventures team connects us to a global ecosystem of startups working on disruptive technologies, enabling Wipro’s clients to access the latest innovations. Our marketing team complements our sales teams across the sales funnel by increasing market awareness, creating interest in our solutions and offerings, improving consideration by clients, analysts, and partners, and improving win rates in large and midsize deals. All the activities carried out through marketing are aimed at expanding and serving our market, including growing our customer base, solidifying our relationships, and enhancing our brand and reputation. IT Services Competition The market for IT services is competitive and rapidly changing. Our competitors in this market include global consulting firms, IT services companies, AI-native firms and local, and niche services providers. The following factors differentiate us from our competition: •Our ability to “orchestrate value” for our clients through our portfolio of holistic solutions that bring together our deep industry knowledge, technology expertise, hyper-scaler capabilities, and best of breed ecosystem partners and start-ups, to solve the most complex problems for our clients. •Our unified approach of leveraging Wipro IntelligenceTM drives significant productivity and delivery of AI-powered transformation for our customers across industries as well as enables our internal transformation. Wipro Intelligence™ brings together our capabilities across our delivery and industry platforms, suite of end-to-end consulting-led, AI-powered solutions and Wipro Innovation Network, bringing the best of Wipro and the broader technology ecosystem together to address key priorities for our clients and differentiate us in the market. This approach is anchored on three strategic pillars: •Run AI: Our AI-powered delivery platform, WINGS, is designed to transform IT and business operations with its embedded intelligent agentic AI capabilities. It empowers enterprises to elevate service delivery from a reactive support function to a proactive driver of operational excellence. •Build AI: Our Enterprise AI, agent-native platform WEGA helps organizations build AI solutions at scale bringing Wipro’s domain expertise and partner ecosystem together to give clients a decisive edge in speed, scale, and innovation by integrating AI across the Software Development Lifecycle (“SDLC”). •Reimagine AI: Our consulting led industry and cross-industry solutions solve complex challenges, enabling organizations reimagine their businesses by streamlining operation, improving outcomes and opening up new avenues for growth. We are also partnering with client GCCs to drive transformation and turn their cost centers into high-impact innovation hubs. Reimagine AI is comprised of: •Wipro Intelligence™ Industry Platforms such as NetOxygen (Lending Platform), CROAMIS (Cargo operations Platform), TOPS (Flight and Crew Operations Platform) and HPS & IHS (Healthcare business process as a service platform supporting onboarding, claims and member support), designed to modernize core business processes with embedded AI and deliver measurable outcomes. •Wipro Intelligence™ Industry solutions such as WealthAI (enabling clients to reimagine the wealth value chain across front, middle and back office), Telco EnterpriseAI (end to end transformation and managed services for Telco enterprise business), Telco Autonomous Networks (enabling level 4 or 5 network autonomy for Telcos), AutoCortex (helping to accelerate transformation towards software-defined, autonomous vehicles), Industrial-AssetsAI (designed to maximize asset uptime through autonomous, zero touch operations), Turnkey ASIC (AI-enabled product portfolio across the value chain for semiconductor firms and OEMs) and Life Sciences Solutions (assisting in optimization of post-approval processes for pharma clients). Cross-industry solutions include Modernization (Gen AI led approach to legacy modernization), CyberTransform (End to end cyber transformation suite), CyberShield (Integrated and outcome driven Managed Security Services), and Fusion-GCC (enables enterprises realize business value and outcomes through Wipro Intelligence powered fit for purpose operating model across set-up and operate phases). -41- Table of Contents •Wipro Innovation Network (“WIN”) fosters client centric co-innovation focusing on R&D in frontier technologies such as Agentic AI, robotics with embodied AI, quantum computing, digital ledger technology and quantum-safe cyber resilience. WIN brings together a global ecosystem of labs, start-ups, academia, deep-tech talent and partners including Hyperscalers, SaaS leaders, niche technology specialists, and AI-native partners such as OpenAI. Our state-of-the-art innovation centers and pop-ups across our key markets such as the U.S., the U.K., Australia, United Arab Emirates (“UAE”), South Korea and India are collaborative environments where clients engage with our experts, often through immersive workshops, to identify and co-create high-impact, high-priority use cases. •Our AI strategy, underpinned by responsible and secure AI usage through our responsible AI framework, focuses on individual, social, technical, and environmental dimensions. Our Responsible AI Centre of Excellence provides guidelines, tutorials, and a dedicated task force to embed regulatory requirements and responsible AI principles into AI development and deployment. •Our consulting capabilities, aligned to industry sectors and to functional capability areas, bring industry and technology expertise to help clients address their strategic business priorities. We are recognized as a leading partner for financial services institutions through Capco for high-end consulting and technology transformations, and as a strategic partner for SAP across industries through Rizing. •Our emphasis on strategic M&A to fast-track capability building in emerging areas and accelerate access to identified markets is a key strength. For example, our recent acquisition of HARMAN’s DTS business unit strengthens our Digital and ER&D capabilities. •We bring cutting edge capabilities to our clients through our Wipro Venture investments in early to mid-stage start-ups in areas such as data, AI and GenAI, automation, IoT, and cybersecurity. For example, we invested in Factory, an AI-native software development company to enhance AI-powered SDLC capabilities of our WEGA delivery platform. •Our bold and high-performance culture fueled by the Spirit of Wipro, the Five Habits, and the Wipro Leadership Mindset, helps us nurture diverse ideas and teams, as well as attract and retain the best talent across key markets. Our focus on nurturing exceptional leadership through the Wipro Leadership Institute enables continuous learning for leaders to transform mindsets, build purpose-driven teams, and cultivate ownership. •We are a purpose-led business that is recognized globally for high ethical standards, strong corporate governance, and an unwavering commitment to sustainability. IT Services SMUs structure Our IT services segment consists of four SMUs - Americas 1, Americas 2, Europe and APMEA. Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries. •Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States: communications, media and information services, software and gaming, new age technology, consumer goods, healthcare, medical devices and life sciences, and technology products and services. •Americas 2 includes the entire business in Canada and the following industry sectors in the United States: banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. •Europe consists of the United Kingdom and Ireland, Switzerland, Germany and Western Europe. •APMEA consists of Australia and New Zealand, Southeast Asia, Japan, India, the Middle East, and Africa. Effective April 1, 2026 the customers across Latin America and Canada will be aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, Hi-tech sector and airports as a sub-sector for Americas will be reported under Americas 1. The SMUs in Europe and APMEA are responsible for all industry sectors in these regions. SMUs are our primary go-to-market teams and seek to scale local strategic clients and drive large deal wins. Revenue from each customer is attributed to the respective SMU, based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers is attributed to a single SMU based on the geographical location of key decision makers. -42- Table of Contents IT Products We provide IT products primarily as a complement to our IT services offerings rather than sell standalone IT products. IT Products Customers We provide our offerings to enterprises in all major industries, primarily in the India and Americas market, including government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education and financial services sectors. We have a diverse range of customers. For the year ended March 31, 2026, we had one customer that accounted for 23% of our overall IT Products segment revenue. IT Products Sales and Marketing We are value-added resellers of third-party enterprise products through our direct sales force. Our GAEs and client executives receive support from our corporate marketing team to assist in brand building and other corporate level marketing efforts for various market segments. IT Products Competition Our competitors in the IT products market include global system integrators as well as local and niche services providers operating in specific geographies like India. One of the major challenges we encounter is margin pressure due to competitive pricing. Achieving mind share and market share in a crowded marketplace requires differentiated strategies on pricing, branding, delivery and products design. In the system integration market, we believe we are favorably positioned based on our brand, quality leadership, expertise in target markets, and ability to create customer loyalty by delivering value to our customers. The following factors differentiate us from our competition: 1.Our decades of experience serving in the IT business, proven track record of delivery excellence and satisfied customers who recommend our services to other corporations. 2.Our deep understanding of the market especially in India. 3.Our trusted ability to provide impartial advice on selection of products. 4.The Wipro brand that is recognized for serving the Indian market for over eighty years. 5.Our commitment to environmental sustainability as well as deep engagement with communities. Intellectual Property We believe that IP is an increasingly important driver of business competitiveness and profitability, particularly in a knowledge‑intensive industry such as ours. Our IP portfolio is a key element of our strategy to drive non‑linearity and differentiation in our offerings. We believe that our IP portfolio enables us to enhance our products and services, introduce new benefits, reduce costs, and improve quality. We protect our IP through a combination of patents, copyrights, trademarks, design rights, trade secrets, confidentiality procedures, and contractual arrangements. We have made significant investments in developing IP across business solutions, products, platforms, and service accelerators. Our IP portfolio enables us to offer standardized and scalable solutions to our customers, providing a time‑to‑market advantage over customized solutions, which typically involve higher costs and longer implementation timelines. Our portfolio also supports the development of innovative commercial models for delivering services. As of March 31, 2026, we held 1,907 granted patents across multiple jurisdictions. During the year ended March 31, 2026, we filed 37 patent applications and had approximately 162 patent applications pending registration in various countries worldwide. As of March 31, 2026, we held 344 registered trademarks, including community trademarks, in India, Japan, the U.S., Malaysia, and more than 70 other countries. In addition, over 47 trademark applications were pending registration in various jurisdictions. We generally require our employees, independent contractors, and, where applicable, vendors to enter into confidentiality agreements upon the commencement of their relationship with us. These agreements typically require that confidential and proprietary information developed by us or on our behalf be kept confidential and that any such information disclosed during our business be protected from unauthorized disclosure. However, our customers generally own the IP rights in the software and solutions that we develop for them under customer contracts. -43- Table of Contents While we continue to invest in the development, maintenance, and protection of our IP, we also recognize and respect the IP rights of our customers, vendors, and other business partners. Effect of Government Regulation on our Business Regulation of our business by governments across the world affects our business in several ways. Our registered office is in India and we are subject to the regulations notified by the GoI. We benefit from certain tax incentives promulgated by the GoI, including the export of IT services from SEZs. As a result of these incentives, our operations have been subject to relatively lower Indian tax liabilities. However, any new SEZ which commences operation on or after April 1, 2021 will not be entitled to any special tax exemption, which may have the effect of increasing tax outflow in the future. Indian laws also place additional requirements on our business, including obtaining approval under various legislations from the RBI, SEBI, MCA, and/or the Ministry of Finance of the GoI to acquire companies incorporated outside India, if prescribed conditions are not satisfied, and subject to some exceptions, obtaining approval from relevant authorities in India in order to raise capital outside India or conduct other activities. We may also be required to obtain the approval of the Indian Stock Exchanges and/or the SEBI to take certain actions, such as the acquisition of, or merger with, another company. The conversion of our equity shares into ADSs is governed by guidelines issued by the RBI. We are also subject to several legislative provisions relating to environmental protection, pollution control, essential commodities, and operation of our facilities. Please see the section titled “Risk Factors” in Item 3, Key Information, as well as the section titled “Additional Information” in Item 10, for more information on the effects of governmental regulation on our business. Organizational Structure Refer to Note 31 of the Notes to Consolidated Financial Statements for information on the organizational structure of the Company. Property, Plant, and Equipment Our registered office is located at Doddakannelli, Sarjapur Road, Bengaluru, India. This office is approximately 0.30 million square feet. We have approximately 1.34 million square feet of land adjoining our corporate offices for future expansion plans. In addition, we have approximately 19.44 million square feet of land for future expansion plans. We have 25.70 million square feet of owned software development facilities in India and over 2.41 million square feet of leased software development premises in India. We have approximately 2.33 million square feet of leased offices, software development facilities, and data center facilities in countries outside India, which includes approximately 0.83 million square feet at various locations in the Americas. We have approximately 0.13 million square feet of owned offices, software development facilities, and data center facilities in countries outside India. We incurred total cash outflow of ₹ 10,510 million,₹ 14,737 million and ₹ 15,603 million during the fiscal years ended March 31, 2024, 2025 and 2026 respectively. These capital expenditures were primarily incurred on new software development facilities in India and investments in IT assets. We have 50 sales and marketing offices, data centers, and development and training centers in the Americas. In addition, we have 148 similar facilities located in the following regions: Europe, the Middle East, Africa and Asia-Pacific (other than India). Our software development facilities are equipped with a world class technology infrastructure that includes networked workstations, servers, data communication links, captive power generators, and other plants and machinery. We believe that our facilities are optimally utilized and that appropriate expansion plans are being developed and undertaken to meet our future growth and our strategy on agile anywhere and newer ways of working. We are committed to achieving net-zero greenhouse gas emissions by 2040, which is in line with the Paris Agreement’s objective of limiting the global temperature increase to 1.5°C. We have set intermediate targets of 59% reduction in absolute emission levels for Scopes 1 and 2 by 2030 (baseline year 2017) and 55% reduction in Scope 3 (baseline year 2020). These targets are based on the globally accepted Science Based Targets initiative (“SBTi”) and reflect significant decarbonization and operational changes we will be implementing. The primary levers of our decarbonization strategy are: (a)improving the energy efficiency of our facilities for sustained reduction in energy consumption; -44- Table of Contents (b)increasing the use of renewable energy in our owned and operationally controlled facilities in India through private power purchase agreements and captive solar power; and (c)combining behavioral, technological, and collaborative approaches that help reduce the carbon footprint of air travel, employee commuting, and purchased goods and services. Over the last few decades, we have steadily reduced our energy, water and waste footprint, while enhancing our bio-diversity impact and we remain steadfast in our commitment to a more sustainable, just and equitable society. Refer to Item 5 of this Annual Report on Form 20-F for further discussion of our ESG initiatives. Material Plans to Construct, Expand and Improve Facilities As of March 31, 2026, we had contractual commitments of ₹ 9,416 million primarily related to capital expenditures on the construction or expansion of software development facilities. Legal Proceedings In the ordinary course of business, we may from time to time become involved in certain legal proceedings. As of the date of this Annual Report on Form 20-F, we are not party to any pending legal proceedings whose resolution could have a material impact on our financial position. We also receive tax assessment orders in the ordinary course of business from various tax authorities. Please see the description of our tax proceedings before various tax authorities in the section titled “Income Taxes” under Item 5 of this Annual Report on Form 20-F.