EXLS

SEC source: 0001104659-20-024332 · tm2010822d6_4.xml · derivative · entry 3

AYYAPPAN AJAY · CIK 0001762098 · SVP & Gen Counsel/Corp. Sec'y.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,549

Underlying: Common Stock, par value $0.001 per share · 516 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

F3 · derivative.exercise_date: On February 20, 2019, the reporting person was granted 2,065 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023.

F3 · derivative.expiration_date: On February 20, 2019, the reporting person was granted 2,065 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023.

SEC source: 0001104659-20-024332 · tm2010822d6_4.xml · nonDerivative · entry 2

AYYAPPAN AJAY · CIK 0001762098 · SVP & Gen Counsel/Corp. Sec'y.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 239

F2 · price: The reporting person's restricted stock units reported in this report vested on February 20, 2020. Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan, pursuant to which such restricted stock units were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-024332 · tm2010822d6_4.xml · nonDerivative · entry 1

AYYAPPAN AJAY · CIK 0001762098 · SVP & Gen Counsel/Corp. Sec'y.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 516

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

SEC source: 0001104659-20-024330 · tm2010822d4_4.xml · derivative · entry 3

Bhalla Vikas · CIK 0001373633 · EVP & Head of Outsourcing.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,123

Underlying: Common Stock, par value $0.001 per share · 1,707 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

F3 · derivative.exercise_date: On February 20, 2019, the reporting person was granted 6,830 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023.

F3 · derivative.expiration_date: On February 20, 2019, the reporting person was granted 6,830 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023.

SEC source: 0001104659-20-024330 · tm2010822d4_4.xml · nonDerivative · entry 2

Bhalla Vikas · CIK 0001373633 · EVP & Head of Outsourcing.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,485

F2 · price: The reporting person's restricted stock units reported in this report vested on February 20, 2020. Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan, pursuant to which such restricted stock units were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-024330 · tm2010822d4_4.xml · nonDerivative · entry 1

Bhalla Vikas · CIK 0001373633 · EVP & Head of Outsourcing.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,215

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

SEC source: 0001104659-20-024331 · tm2010822d5_4.xml · derivative · entry 3

Miglani Nalin Kumar · CIK 0001627017 · EVP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,632

Underlying: Common Stock, par value $0.001 per share · 1,543 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

F3 · derivative.exercise_date: On February 20, 2019, the reporting person was granted 6,175 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023

F3 · derivative.expiration_date: On February 20, 2019, the reporting person was granted 6,175 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023

SEC source: 0001104659-20-024331 · tm2010822d5_4.xml · nonDerivative · entry 2

Miglani Nalin Kumar · CIK 0001627017 · EVP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 953

F2 · price: The reporting person's restricted stock units reported in this report vested on February 20, 2020. Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan, pursuant to which such restricted stock units were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-024331 · tm2010822d5_4.xml · nonDerivative · entry 1

Miglani Nalin Kumar · CIK 0001627017 · EVP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,543

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

SEC source: 0001104659-20-024327 · tm2010822d1_4.xml · derivative · entry 8

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,515

Underlying: Common Stock, par value $0.001 per share · 23,515 shares

Expires 2030-02-20

F8 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F9 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 20, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-024327 · tm2010822d1_4.xml · derivative · entry 7

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,683

Underlying: Common Stock, par value $0.001 per share · 7,227 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units of ExlService Holdings, Inc. convert into common stock, par value $0.001 per share on a one-for-one basis.

F7 · derivative.exercise_date: On February 20, 2019, the reporting person was granted 28,910 restricted stock units, 25 percent of the restricted stock units became vested on February 20, 2020, an additional 25 percent of the restricted stock units will vest on February 20, 2021, an additional 25 percent of the restricted stock units will vest on February 20, 2022, and the remaining balance of 25 percent of the restricted stock units will vest on February 20, 2023.

F7 · derivative.expiration_date: On February 20, 2019, the reporting person was granted 28,910 restricted stock units, 25 percent of the restricted stock units became vested on February 20, 2020, an additional 25 percent of the restricted stock units will vest on February 20, 2021, an additional 25 percent of the restricted stock units will vest on February 20, 2022, and the remaining balance of 25 percent of the restricted stock units will vest on February 20, 2023.

SEC source: 0001104659-20-024327 · tm2010822d1_4.xml · nonDerivative · entry 1

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 255,285

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Restricted stock units of ExlService Holdings, Inc. convert into common stock, par value $0.001 per share on a one-for-one basis.

SEC source: 0001104659-20-024328 · tm2010822d2_4.xml · derivative · entry 3

Jetley Vivek · CIK 0001798124 · EVP and Head of Analytics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,168

Underlying: Common Stock, par value $0.001 per share · 722 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

F3 · derivative.exercise_date: On February 20, 2019, the reporting person was granted 2,890 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023.

F3 · derivative.expiration_date: On February 20, 2019, the reporting person was granted 2,890 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 20, 2020, an additional twenty-five percent of the restricted stock units will vest on February 20, 2021, an additional twenty-five percent of the restricted stock units will vest on February 20, 2022; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 20, 2023.

SEC source: 0001104659-20-024328 · tm2010822d2_4.xml · nonDerivative · entry 2

Jetley Vivek · CIK 0001798124 · EVP and Head of Analytics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,738

F2 · price: The reporting person's restricted stock units reported in this report vested on February 20, 2020. Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan, pursuant to which such restricted stock units were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-024328 · tm2010822d2_4.xml · nonDerivative · entry 1

Jetley Vivek · CIK 0001798124 · EVP and Head of Analytics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,014

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.

SEC source: 0001104659-20-023948 · tm209692d6_4.xml · derivative · entry 1

BAGAI PAVAN · CIK 0001374134 · President & COO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,045

Underlying: Common Stock, par value $0.001 per share · 10,045 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-023947 · tm209692d5_4.xml · derivative · entry 1

AYYAPPAN AJAY · CIK 0001762098 · SVP & Gen Counsel/Corp. Sec'y.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,360

Underlying: Common Stock, par value $0.001 per share · 3,360 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-023949 · tm209692d7_4.xml · derivative · entry 1

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,365

Underlying: Common Stock, par value $0.001 per share · 4,365 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-023946 · tm209692d4_4.xml · derivative · entry 1

Meckey Samuel · CIK 0001758557 · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,565

Underlying: Common Stock, par value $0.001 per share · 6,565 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-023945 · tm209692d3_4.xml · derivative · entry 1

Miglani Nalin Kumar · CIK 0001627017 · EVP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,995

Underlying: Common Stock, par value $0.001 per share · 6,995 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-023943 · tm209692d2_4.xml · derivative · entry 1

Bhalla Vikas · CIK 0001373633 · EVP & Head of Outsourcing.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,300

Underlying: Common Stock, par value $0.001 per share · 8,300 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-023941 · tm209692d1_4.xml · derivative · entry 1

Jetley Vivek · CIK 0001798124 · EVP and Head of Analytics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,365

Underlying: Common Stock, par value $0.001 per share · 4,365 shares

Expires 2030-02-19

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-012049 · tm207029d1_form4.xml · derivative · entry 4

STAGLIN GAREN K · CIK 0001371494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 52,487

Underlying: Common Stock, par value $0.001 per share · 1,348 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F4 · derivative.exercise_date: The restricted stock units vest upon the earlier of (i) the first anniversary of the date of grant, (ii) the date on which the reporting person's term as a member of the Board expires if the reporting person is not subsequently elected to a new term on the Board, and (iii) the occurrence of a "Change in Control", as defined in the Plan, and such awards settle upon the earlier of (i) the reporting person's death, (ii) the occurrence of a "Change of Control", as defined in the Plan and (iii) the vesting date.

F4 · derivative.expiration_date: The restricted stock units vest upon the earlier of (i) the first anniversary of the date of grant, (ii) the date on which the reporting person's term as a member of the Board expires if the reporting person is not subsequently elected to a new term on the Board, and (iii) the occurrence of a "Change in Control", as defined in the Plan, and such awards settle upon the earlier of (i) the reporting person's death, (ii) the occurrence of a "Change of Control", as defined in the Plan and (iii) the vesting date.

SEC source: 0001104659-20-012049 · tm207029d1_form4.xml · derivative · entry 3

STAGLIN GAREN K · CIK 0001371494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,139

Underlying: Common Stock, par value $0.001 per share · 1,702 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F3 · derivative.exercise_date: On February 4, 2019, the reporting person was granted 1,702 restricted stock units, that vest upon the earlier of (i) the first anniversary of the date of grant, (ii) the end of the reporting person's term on the Board of Directors of ExlService Holdings, Inc. (the "Board") if such person is not subsequently elected to a new term on the Board, and (iii) the occurrence of a "Change of Control", as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan (the "Plan"), and such awards settle upon the earlier of (i) the reporting person's death, (ii) the occurrence of a "Change of Control", as defined in the Plan or (iii) the vesting date.

F3 · derivative.expiration_date: On February 4, 2019, the reporting person was granted 1,702 restricted stock units, that vest upon the earlier of (i) the first anniversary of the date of grant, (ii) the end of the reporting person's term on the Board of Directors of ExlService Holdings, Inc. (the "Board") if such person is not subsequently elected to a new term on the Board, and (iii) the occurrence of a "Change of Control", as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan (the "Plan"), and such awards settle upon the earlier of (i) the reporting person's death, (ii) the occurrence of a "Change of Control", as defined in the Plan or (iii) the vesting date.

SEC source: 0001104659-20-012049 · tm207029d1_form4.xml · nonDerivative · entry 1

STAGLIN GAREN K · CIK 0001371494 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,551

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

SEC source: 0001104659-20-011334 · tm206843d1_4.xml · derivative · entry 1

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,898

Underlying: Common Stock, par value $0.001 per share · 5,898 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

F2 · derivative.exercise_date: The restricted stock units will vest in four equal annual installments, beginning on February 3, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

F2 · derivative.expiration_date: The restricted stock units will vest in four equal annual installments, beginning on February 3, 2021. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001104659-20-008820 · tm206304d1_4.xml · nonDerivative · entry 2

Miglani Nalin Kumar · CIK 0001627017 · EVP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person.

F3 · price: This transaction was executed in multiple trades at prices ranging from $74.41 to $74.61 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001104659-20-008820 · tm206304d1_4.xml · nonDerivative · entry 1

Miglani Nalin Kumar · CIK 0001627017 · EVP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,122

F1 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person.

F2 · price: This transaction was executed in multiple trades at prices ranging from $73.40 to $74.39 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001104659-20-008147 · tm206178d2_4.xml · nonDerivative · entry 2

BAGAI PAVAN · CIK 0001374134 · President & COO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,545

F2 · price: Pursuant to the agreement governing the grant of the PRSUs and pursuant to the Company's 2015 Amendment and Restatement of the 2006 Omnibus Award Plan, pursuant to which such PRSUs were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day, January 27, 2020 in this case, is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-008147 · tm206178d2_4.xml · nonDerivative · entry 1

BAGAI PAVAN · CIK 0001374134 · President & COO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 43,203

F1 · price: The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 23, 2017. Such shares of Common Stock were deemed earned on January 27, 2020 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2019.

SEC source: 0001104659-20-008151 · tm206178d5_4.xml · nonDerivative · entry 2

Miglani Nalin Kumar · CIK 0001627017 · VP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,006

F2 · price: Pursuant to the agreement governing the grant of the PRSUs and pursuant to the Company's 2015 Amendment and Restatement of the 2006 Omnibus Award Plan, pursuant to which such PRSUs were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day, January 27, 2020 in this case, is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-008151 · tm206178d5_4.xml · nonDerivative · entry 1

Miglani Nalin Kumar · CIK 0001627017 · VP and Chief HR Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,231

F1 · price: The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 23, 2017. Such shares of Common Stock were deemed earned on January 27, 2020 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2019.

SEC source: 0001104659-20-008149 · tm206178d4_4.xml · nonDerivative · entry 2

Jetley Vivek · CIK 0001798124 · EVP and Head of Analytics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,292

F2 · price: Pursuant to the agreement governing the grant of the PRSUs and pursuant to the Company's 2015 Amendment and Restatement of the 2006 Omnibus Award Plan, pursuant to which such PRSUs were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day, January 27, 2020 in this case, is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-008149 · tm206178d4_4.xml · nonDerivative · entry 1

Jetley Vivek · CIK 0001798124 · EVP and Head of Analytics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,949

F1 · price: The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 23, 2017. Such shares of Common Stock were deemed earned on January 27, 2020 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2019.

SEC source: 0001104659-20-008148 · tm206178d3_4.xml · nonDerivative · entry 2

Bhalla Vikas · CIK 0001373633 · EVP & Head of Outsourcing

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,508

F2 · price: Pursuant to the agreement governing the grant of the PRSUs and pursuant to the Company's 2015 Amendment and Restatement of the 2006 Omnibus Award Plan, pursuant to which such PRSUs were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day, January 27, 2020 in this case, is used for purposes of computing tax reporting and withholding.

SEC source: 0001104659-20-008148 · tm206178d3_4.xml · nonDerivative · entry 1

Bhalla Vikas · CIK 0001373633 · EVP & Head of Outsourcing

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,188

F1 · price: The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 23, 2017. Such shares of Common Stock were deemed earned on January 27, 2020 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2019.

SEC source: 0001104659-20-008146 · tm206178d1_4.xml · nonDerivative · entry 1

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 248,058

F1 · price: The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 23, 2017. Such shares of Common Stock were deemed earned on January 27, 2020 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2019.

SEC source: 0001104659-20-006763 · tm205846d1_4.xml · derivative · entry 8

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 8,841 shares

Expires 2022-02-07

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 22, 2020, the reporting person exercised previously issued options to purchase an aggregate of 8,841 shares of common stock of ExlService Holdings, Inc.

F11 · derivative.exercise_date: On February 7, 2012, the reporting person was granted 97,500 stock options. 25 percent of these options became vested and exercisable on February 7, 2013, an additional 25 percent became vested and exercisable on February 7, 2014, an additional 25 percent became vested and exercisable on February 7, 2015, and the balance of 25 percent became vested and exercisable on February 7, 2016.

SEC source: 0001104659-20-006763 · tm205846d1_4.xml · nonDerivative · entry 3

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 233,185

F4 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the Rohit Kapoor 2016 Family Trust.

F5 · price: This transaction was executed in multiple trades at prices ranging from $72.50 to $73.47 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

F6 · ownership.nature: Owned by the Rohit Kapoor 2016 Family Trust.

SEC source: 0001104659-20-006763 · tm205846d1_4.xml · nonDerivative · entry 2

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 211,352

F2 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person.

F3 · price: This transaction was executed in multiple trades at prices ranging from $72.50 to $73.48 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001104659-20-006763 · tm205846d1_4.xml · nonDerivative · entry 1

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 220,193

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 22, 2020, the reporting person exercised previously issued options to purchase an aggregate of 8,841 shares of common stock of ExlService Holdings, Inc.

SEC source: 0001104659-20-006367 · tm205734d1_4.xml · derivative · entry 8

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,841

Underlying: Common Stock, par value $0.001 per share · 1,993 shares

Expires 2022-02-07

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 21, 2020, the reporting person exercised previously issued options to purchase an aggregate of 1,993 shares of common stock of ExlService Holdings, Inc.

F11 · derivative.exercise_date: On February 7, 2012, the reporting person was granted 97,500 stock options. 25 percent of these options became vested and exercisable on February 7, 2013, an additional 25 percent became vested and exercisable on February 7, 2014, an additional 25 percent became vested and exercisable on February 7, 2015, and the balance of 25 percent became vested and exercisable on February 7, 2016.

SEC source: 0001104659-20-006367 · tm205734d1_4.xml · nonDerivative · entry 3

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 244,016

F4 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the Rohit Kapoor 2016 Family Trust.

F5 · price: This transaction was executed in multiple trades at prices ranging from $72.50 to $72.56 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

F6 · ownership.nature: Owned by the Rohit Kapoor 2016 Family Trust.

SEC source: 0001104659-20-006367 · tm205734d1_4.xml · nonDerivative · entry 2

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 211,352

F2 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person.

F3 · price: This transaction was executed in multiple trades at prices ranging from $72.50 to $72.60 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001104659-20-006367 · tm205734d1_4.xml · nonDerivative · entry 1

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 213,346

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 21, 2020, the reporting person exercised previously issued options to purchase an aggregate of 1,993 shares of common stock of ExlService Holdings, Inc.

SEC source: 0001104659-20-005963 · tm205604d1_4.xml · derivative · entry 8

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,834

Underlying: Common Stock, par value $0.001 per share · 7,216 shares

Expires 2022-02-07

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 17, 2020, the reporting person exercised previously issued options to purchase an aggregate of 7,216 shares of common stock of ExlService Holdings, Inc.

F11 · derivative.exercise_date: On February 7, 2012, the reporting person was granted 97,500 stock options. 25 percent of these options became vested and exercisable on February 7, 2013, an additional 25 percent became vested and exercisable on February 7, 2014, an additional 25 percent became vested and exercisable on February 7, 2015, and the balance of 25 percent became vested and exercisable on February 7, 2016.

SEC source: 0001104659-20-005963 · tm205604d1_4.xml · nonDerivative · entry 3

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 246,312

F4 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the Rohit Kapoor 2016 Family Trust.

F5 · price: This transaction was executed in multiple trades at prices ranging from $72.50 to $72.99 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

F6 · ownership.nature: Owned by the Rohit Kapoor 2016 Family Trust.

SEC source: 0001104659-20-005963 · tm205604d1_4.xml · nonDerivative · entry 2

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 211,352

F2 · kind: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person.

F3 · price: This transaction was executed in multiple trades at prices ranging from $72.51 to $72.99 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001104659-20-005963 · tm205604d1_4.xml · nonDerivative · entry 1

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 218,568

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 17, 2020, the reporting person exercised previously issued options to purchase an aggregate of 7,216 shares of common stock of ExlService Holdings, Inc.

SEC source: 0001104659-20-005588 · tm205501d1_4.xml · derivative · entry 8

Kapoor Rohit · CIK 0001373630 · Director · CEO & Vice Chairman

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,050

Underlying: Common Stock, par value $0.001 per share · 4,450 shares

Expires 2022-02-07

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On January 16, 2020, the reporting person exercised previously issued options to purchase an aggregate of 4,450 shares of common stock of ExlService Holdings, Inc.

F11 · derivative.exercise_date: On February 7, 2012, the reporting person was granted 97,500 stock options. 25 percent of these options became vested and exercisable on February 7, 2013, an additional 25 percent became vested and exercisable on February 7, 2014, an additional 25 percent became vested and exercisable on February 7, 2015, and the balance of 25 percent became vested and exercisable on February 7, 2016.