Luxoft Holding Investor Presentation — November 2017

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Investor Presentation

November 2017 www.luxoft.com 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 they may not be indicative of the size and