Luxoft Holding Investor Presentation — August 2018

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August 15, 2018Luxoft Holding, Inc

Dmitry Loschinin , CEO & President

Evgeny Fetisov, CFODisclaimer

Non-GAAP Financial Measures

To supplement our financial results presented in accordance with US GAAP, this presentation includes the following

measures defined by the Securities and Exchange Commission as non -GAAP financial measures: earnings before

interest, tax, depreciation and amortization (EBITDA); adjusted EBITDA; non -GAAP net income; non -GAAP diluted

Earnings per share (EPS) and Free Cash Flow (FCF). EBITDA is calculated as earnings before interest, tax, depreciation

and amortization, where interest includes unwinding of the discount rate for contingent liabilities. Prior year amounts were

amended accordingly. Non -GAAP net income and non -GAAP EPS exclude stock -based compensation expense,

amortization of fair value adjustments to intangible assets and impairment thereof and other acquisitions related costs that

may include changes in the fair value of contingent consideration liabilities. Non -GAAP diluted EPS are calculated as

non-GAAP net income divided by weighted average number of diluted shares. Free Cash Flow is calculated as operating

cash flow less capital expenditure which consists of purchases of property, plant and equipment and intangible assets as

defined in the cash flow statement .

We adjust our non -GAAP financial measures to exclude stock based compensation, because it is a non -cash expense.

We also adjust our non -GAAP financial measures to exclude the change in fair value of contingent consideration,

because we believe these expenses are not indicative of what we consider to be normal course of operations. Our non -

GAAP financial measures are adjusted to exclude amortization of purchased intangible assets in order to allow

management and investors to evaluate our results from operating activities as if these assets have been developed

internally rather than acquired in a business combination. Finally, we adjust our non -GAAP financial measures to exclude

acquisition -related costs, which comprise payments to consulting firms as well as fees paid upon successful completion of

acquisition; as well as certain incentive payments for members of management of the acquired companies as provided for

in the acquisition agreements. These payments are based on performance of the acquired businesses and are classified

as part of management compensation rather than part of purchase consideration. These costs vary with the size and

complexity of each acquisition and are generally inconsistent in amount and frequency, and therefore, we believe that