Virtusa acquisitions, on the record

Word for word“Under the terms of the equity purchase agreement and the share purchase agreement, on March 12, 2018, we acquired all of the outstanding shares of eTouch US and eTouch India for approximately $140.0 million in cash, subject to certain adjustments, with up to an additional $15.0 million set aside for retention bonuses to be paid to eTouch management and key employees, in equal installments on the first and second anniversary of the transaction.” 10-K for 2018

Word for word“On March 3, 2016, to create a unique, fully integrated provider of comprehensive solutions and services across the banking and financial services industry, expand our addressable market, and enable us to pursue larger consulting and outsourcing contracts, our Indian subsidiary acquired approximately 51.7% of the fully diluted shares of Polaris Consulting & Services Limited ("Polaris") for approximately $168.3 million in cash (the "Polaris Transaction") pursuant to a share purchase agreement dated as of November 5, 2015, by and among our Indian subsidiary, Polaris and the promoter sellers named therein.” 10-K for 2018

Word for word“On April 6, 2016, in connection with the Polaris Transaction, we completed an unconditional mandatory open offer (the "Mandatory Tender Offer") to purchase an additional 26% of the fully diluted outstanding shares of Polaris from Polaris' public shareholders for an aggregate purchase price of approximately $89.1 million (Indian rupees 5,935 million).” 10-K for 2018

Word for word“In order to comply with the applicable Indian rules on takeovers, during the three months ended December 31, 2016, we sold 3.7% of our shares of Polaris common stock through a public offering for approximately $7.6 million in proceeds, net of $0.2 million in brokerage fees and taxes, which reduced our ownership interest in Polaris from 78.6% to 74.9% of Polaris' basic shares of common stock outstanding.” 10-K for 2018

Word for word“On February 12, 2018, we consummated the Polaris delisting offer to all public shareholders of Polaris in accordance with the provisions of the SEBI Delisting Regulations, which resulted in an accepted exit price of INR 480 per share ("Exit Price"), for an aggregate consideration of approximately $145.0 million, exclusive of transaction and closing costs, resulting in Virtusa India increasing its ownership interest in Polaris from approximately 74% to approximately 93% of the share capital of Polaris.” 10-K for 2018

Word for word“To strengthen our digital engineering capabilities and establish a solid base in Silicon Valley, on March 12, 2018, we acquired all of the outstanding shares of eTouch Systems Corp (“eTouch US”), and its Indian subsidiary, eTouch Systems (India) Pvt. Ltd (“eTouch India,” together with eTouch US, “eTouch”) for approximately $140.0 million in cash, subject to certain adjustments.” 10-K for 2020

Word for word“On March 3, 2016, our Indian subsidiary, Virtusa Consulting Services Private Limited (“Virtusa India”) acquired approximately 51.7% of the fully diluted shares of Polaris Consulting & Services Limited (“Polaris”) for approximately $168.3 million in cash (the “Polaris Transaction”) pursuant to a share purchase agreement dated as of November 5, 2015, by and among Virtusa India, Polaris and the promoter sellers named therein.” 10-K for 2020

Word for word“During the fiscal year ended March 31, 2020, we completed multiple tuck-in asset and business acquisitions for an aggregate purchase price consideration of $49.6 million, with an additional earn-out consideration of $38.7 million, 64 Table of Contents which, if earned, would be payable over the next two fiscal years.” 10-K for 2020