Luxoft Holding, Inc Reports Results for Three and Six Months Ended September 30, 2013

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Luxoft Holding, Reports Results Three and Months Ended 30, 2013

Holding, Inc a leading of software services and IT solutions a global base, today results for three and months ended 30, 2013.


— Three Ended September 2013

Highlights Six Months September 30,

Revenue for three months September 30, increased to million, up from $74.1 for the period a ago and sequentially. Adjusted was $19.5 and corresponding of 19.9%, compared to million and respectively in year-ago quarter $14.4 million 17.1% sequentially. GAAP net was $13.3 or $0.40 diluted share, to $9.1 and $0.30 diluted share the same a year and $9.8 and $0.32 Non-GAAP net was $15.5 or $0.47 diluted share, to $10.7 and $0.36 diluted share the same a year and $11.1 and $0.36 Reconciliations between financial measures US GAAP results and EPS are at the of this

Revenue for six months September 30, increased to million, up from $145.1 for the period a ago. Operating was $26.2 an increase 54.1% year year from million in first half last year. GAAP net was $23.1 or $0.73 diluted share, to $14.2 and $0.47 diluted share the same a year Non-GAAP net was $26.7 or $0.84 diluted share, to $17.8 and $0.59 diluted share the same a year

We are to deliver solid quarter financial and performance for shareholders, one the best in the history. This dynamic illustrates nature of ‘Anchor-Develop-Grow’ strategy our ability grow high account base. the past months business as we been capitalizing prevailing trends, positive contributions technology areas the immediate of our from regulatory, and reporting connectivity and network testing said Dmitry President and Executive Officer. have made progress in strategic partnerships global leaders several key of our including financial, and telecom, executing on strategy we to investors our IPO earlier this We continue the path growth, obtaining clients and into our and core

Virtually all experienced strong growth, with services and and transport a strong 32% and growth for first six of the on year year basis. dynamic was pronounced across revenue generating revenues generated the U.S. 52%, in U.K. increased and in increased 16%, to the ago quarter. headcount growth 22% year year, a addition of employees, to 6,803 as September 30, still pacing behind the growth dynamic. of today company employs 7,000 people.

We are the path aggressive but growth, where additional employee greater contribution our top and profitability helps us new efficiency said Roman Chief Financial Revenues from one of ten clients in the quarter. We also excited note that landscape of top ten has changed: added two clients over last six from the and the services segments, of which the top list in past quarter. revenue per employee increased an all-time of approximately while our decelerated significantly 10.9%. We happy with outcomes and remain committed further decouple from headcount and generate returns and for our As a of this dynamic and growth momentum the first months of year, we increasing our guidance for revenue growth earnings per

Outlook for Year Ending 31, 2014:

Company is the following for the year ending 31, 2014:

was a quarter of growth and wins, including potential clients. continued investments RD, enhancing solutions, such TEORA, Horizon Twister, that clients achieve outcomes faster in more ways. We make progressive into our and into people, supporting internal mobility other human programs. There many exciting that fueled and annual especially in services, automotive telecom verticals. were able create cross-selling within our clients, requiring expertise in data, advanced and business as well in testing quality assurance There is ongoing expansion a wide of managed offering within office functions clients — trend that to our growth in past quarter this year, we bring unique value into such said Michael Executive Vice

Conference Call

Luxoft Holding, will host conference call November 13, at 8:00 EST to its financial for the and six ended September 2013. To the conference please dial (for U.S. or 201-689-8023 international callers). live webcast the conference will also available during call and be accessed https://event.webcasts.com/starthere.jsp?ei=1020470. Participants, access the at least minutes prior the call register and the instructions on the to download install the applications. An recording of conference call be available a limited by dialing of the numbers: 877-660-6853 U.S. callers) 201-612-7415 (for callers) and the conference 418801. The will be from two as of end of call and to 11:59 EST on 27, 2013. replay details also be at Luxoft’s Relations section the same period.

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About Luxoft:

Holding, Inc is a provider of development services innovative IT to a client base primarily of multinational corporations. software development consist of and mission custom software and support, engineering and and technology Luxoft’s solutions based on proprietary products platforms that impact its business outcomes efficiently deliver innovation. The core resources located in and Eastern where Luxoft 14 delivery 19 offices presence in countries, employing 7,000 people. is domiciled Tortola, British Islands, has principal executive in Zug, and is on New Stock Exchange US). For information, please http://www.luxoft.com.

Non-GAAP Measures:

To our financial presented in with US this press includes the measures defined the Securities Exchange Commission non-GAAP financial earnings before tax, depreciation amortization (EBITDA); EBITDA; non-GAAP income and diluted Earnings share (EPS). diluted EPS calculated as net income by weighted number of shares. We these non-GAAP measures because believe that present a measure of core business management uses internally to our ongoing Accordingly, we that these measures are to investors enhancing their of our performance. These measures should considered in to, and as a for, comparable GAAP measures. non-GAAP results a full between US and non-GAAP are provided the accompanying at the of this release.

Forward-Looking Statements:

addition to information, this contains forward-looking within the of the Securities Litigation Act of Section 27A the Securities of 1933, Section 21E the Securities Act of These forward-looking include information possible or future results our business financial condition, well as results of liquidity, plans objectives. In cases, you identify forward-looking by terminology as believe, estimate, continue, intend, should, expect, predict, or the of these or other expressions. These include, but not limited statements regarding: persistence and of competition the IT the future of spending IT services generally and each of industry verticals, outsourcing and application development offshore research development services; level of of demand our services our clients; level of in revenues our new seasonal trends the budget work cycles our clients; levels of concentration of by vertical, by client by type contract in future; the timing of increase in corporate tax our expectations respect to proportion of fixed price our expectation our Freedom Services and LLC acquisition help us new practice the demands expect our growth to on our and infrastructure; sufficiency of current cash, flow from and lines credit to our anticipated needs; the proportion of cost of comprised of salaries; our to introduce products for resale and in addition providing services; anticipated joint with one our clients; Group Holding and its consideration of divesting all a portion its ownership in us; our continued relationship with Group Holding and its including expectations the provision purchase of and purchase lease of and other discussed under heading Risk in the prospectus for initial public and other filed with Securities and Commission. Except required by we undertake obligation to update any statements for reason after date of press release as a of new future events otherwise.

Luxoft Holding

Alina V. 212-964-9900 (ext.

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