Competitor

Analysis-
Revenue by
Geography
4/9/20
 INTRODUCTION

• This slide deck contains information and analysis with regards to our competitors on the basis of the revenue
growth/decline they have experienced in the geographical regions they have been operational in over the last few
years.
• The analysis includes information as to what the causes that have been led to the growth or decline in revenues.
• The companies analyzed are :
• WNS Holdings
• HGS
• Serco
• Sykes
• Teleperformance
• EXL

© Firstsource Solutions Limited | Confidential | 4/9/20 2

 WNS Holdings

Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19

European Union North America United Kingdom South Africa Others

Analysis :
In FY19 the increase in revenue from the North America region was primarily attributable to higher volumes in healthcare, insurance, shipping and logistics, consulting and professional services, and
banking and financial services verticals, partially offset by lower volumes in travel, and utilities verticals. The increase in revenue from the Rest of world region was primarily attributable to higher volumes
in shipping and logistics, healthcare, and insurance verticals, partially offset by lower volumes in travel, and banking and financial services verticals. The increase in revenue from the Australia region was
primarily attributable to higher volumes in insurance, and diversified businesses verticals, partially offset by a lower volume in travel vertical and a depreciation of the Australian dollar against the US
dollar by an average of 5.8%, as compared to the average exchange rate in fiscal 2018.

© Firstsource Solutions Limited | Confidential | 4/9/20 3

 HGS

Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4 FY19

USA India (Domestic) India (International) India Operations

Canada Philippines United Kingdom

Analysis :
In FY19 Increase in US originated revenues was due to strong growth in onshore delivery of healthcare as well acquisitions of HGS Axis Point Health LLC and Element Solutions LLC.

© Firstsource Solutions Limited | Confidential | 4/9/20 4

 Serco

FY13 FY14 FY15 FY16 FY17 FY18 FY19

United Kingdom America Asia Pacific Middle East

Analysis :
In FY19, the American division saw an increase in its revenues due to the NSBU acquisition. Revenue margins also increased in the Asia Pacific Division, driven particularly due strong organic growth
performance, whilst revenue growth declined in the Middle East Division due significant reduction in the defense logistics MELABS contract.

© Firstsource Solutions Limited | Confidential | 4/9/20 5

 Sykes

FY13 FY14 FY15 FY16 FY17 FY18 FY19

America EMEA

Analysis :
InFY18Revenues from the Company’s Americas region, including operations in North America and offshore 
(Latin America, South Asia and the Asia Pacific region), decreased driven by softness in the communications financial services and other verticals. The decline in in the financial services vertical was a result of 
a strategic decision in the second quarter of 2018 to discontinue a program.
EMEA revenues increased driven by new  client wins as well as existing and new program expansion principally within the technology, financial  services, transportation & leisure and other verticals.

© Firstsource Solutions Limited | Confidential | 4/9/20 6

 Teleperformance

FY13 FY14 FY15 FY16 FY17 FY18 FY19

EWAP Ibero-Latam CEMEA India and Middle Eat

Analysis :
In FY19 EWAP Revenues improved due to the North American operations which capitalized on fast growth in demand from the healthcare segment, due to the deployment of digital transformation solutions for
leading health insurance providers, particularly in the area of back-office processes. Ibero-LATAM revenues increased mainly due to the decline in the Argentine peso, Colombian peso and Brazilian real against the
euro.

© Firstsource Solutions Limited | Confidential | 4/9/20 7

 EXL

Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19

United States United Kingdom Rest of world

Analysis :
In FY19 the United States region saw a rise in its revenues particularly due to the acquisition of SCIO in the analytics segment. where as the UK division saw a decline in its revenue due to decline in the utilities
industry.

© Firstsource Solutions Limited | Confidential | 4/9/20 8