Dear Shareholder,

FY23 has been another year of strong growth for our company as we crossed the $12.5 billion revenue mark, now going to market as ‘HCLTech’ with a refreshed purpose: to bring together the best of technology and our people to supercharge progress.

We delivered this performance in the backdrop of a challenging global economic environment. This underscores the strength and resilience of our diversified portfolio that makes us a preferred partner of global enterprises. Another notable milestone this year was HCLSoftware crossing the $1 billion ARR (Annual Recurring Revenue) mark, validating our investment in this business segment.

Technology continues to be a top priority for enterprises as they recalibrate their business models for enhanced efficiencies, serving customers in a digital-first world and weaving in sustainability agendas into their strategy. While the current economic headwinds may force some businesses to defer low-priority technology spends in the short-term, core technology spending is expected to grow further.

The emergence of generative AI (GenAI) has made the landscape more exciting as it opens up new opportunities for enterprises to supercharge growth and productivity and for humanity to unlock the benefits of digital technologies. HCLTech is well positioned to respond to the requirements of businesses in this evolving technology landscape and help them stay ahead of the curve. GenAI fused into our technology offerings will enable us to deliver superior solutions and customization for our clients.

We continue to invest aggressively to build new capabilities across our portfolio themes of Digital, Engineering, Cloud, AI and Software. A key part of this capacity building is boosting our in-house R&D and innovation engine, deepening partnerships across the ecosystem and most importantly, upskilling our people, who remain the biggest enabler of our ability to drive digital transformation of our clients.

Organization culture is extremely important for us to deliver on our strategy, especially as we have a growing tribe of Gen Z employees within the company. We have a sharp focus on providing an open, vibrant and inclusive workplace to our people while offering them platforms to unlock their potential. We are rated as Top Employer in 25 countries and are doubling down on our initiatives to make the company a magnet for top talent, globally.

A key focus area for the company has been our environment, social and governance (ESG) agenda and I am happy to share that we continue to make rapid strides in this area. In particular, I would like to highlight that HCLTech replenished 26 times more water than it consumed across its operations in India. Our ESG

The emergence of GenAI has made the landscape more exciting as it opens up new opportunities for enterprises to supercharge growth and productivity and for humanity to unlock the benefits of digital technologies.”

interventions and performance have seen us being recognized on global platforms and we will build on this foundation and benchmark with the best in the world.

Our company continues to uplift and transform local communities. Corporate social responsibility is not a checklist for us but a purpose and commitment. In India, HCL Foundation’s programs have transformed millions of lives through interventions in areas such as education, skill development, livelihoods, healthcare and environment. And we are now taking this source code beyond India to supercharge progress for communities by partnering with leading global charitable organizations.

This year, our Founder and Chairman Emeritus, Shiv Nadar, was honored with the Lifetime Achievement Awards by The Economic Times and the U.S.-India Strategic Partnership Forum (USISPF). It’s a fitting tribute to the HCLTech story and everyone who has been a part of it.

In closing, I’d like to thank all our stakeholders for your continued trust and support. Your confidence in us is the cornerstone of our success, encouraging us to aim higher and strive further. Together, we will continue to forge ahead and explore new frontiers to supercharge progress.

Regards,

Roshni Nadar Malhotra

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