EXLS

SEC source: 0001628280-26-009902 · wk-form4_1771540329.xml · nonDerivative · entry 2

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 54,877

F2 · price: 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: 0001628280-26-009902 · wk-form4_1771540329.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 56,430

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: 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: 0001628280-26-009901 · wk-form4_1771540321.xml · derivative · entry 6

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 4,855 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.

F1 · kind: 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.

F4 · derivative.exercise_date: On February 16, 2022, the reporting person was granted 3,884 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional 25 percent of the restricted stock units became vested on February 16, 2024, an additional 25 percent of the restricted stock units became vested on February 16, 2025, and the remaining balance of 25 percent of the restricted stock units became vested on February 16, 2026.

F4 · derivative.expiration_date: On February 16, 2022, the reporting person was granted 3,884 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional 25 percent of the restricted stock units became vested on February 16, 2024, an additional 25 percent of the restricted stock units became vested on February 16, 2025, and the remaining balance of 25 percent of the restricted stock units became vested on February 16, 2026.

SEC source: 0001628280-26-009901 · wk-form4_1771540321.xml · derivative · entry 5

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,110

Underlying: Common Stock, par value $0.001 per share · 4,110 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.

F1 · kind: 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 15, 2023, the reporting person was granted 3,288 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 15, 2024, an additional 25 percent of the restricted stock units became vested on February 15, 2025, an additional 25 percent of the restricted stock units became vested on February 15, 2026, and the remaining balance of 25 percent of the restricted stock units will vest on February 15, 2027.

F3 · derivative.expiration_date: On February 15, 2023, the reporting person was granted 3,288 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 15, 2024, an additional 25 percent of the restricted stock units became vested on February 15, 2025, an additional 25 percent of the restricted stock units became vested on February 15, 2026, and the remaining balance of 25 percent of the restricted stock units will vest on February 15, 2027.

SEC source: 0001628280-26-009901 · wk-form4_1771540321.xml · nonDerivative · entry 4

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 248,425

F2 · price: 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: 0001628280-26-009901 · wk-form4_1771540321.xml · nonDerivative · entry 3

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 250,043

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: 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: 0001628280-26-009901 · wk-form4_1771540321.xml · nonDerivative · entry 2

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 245,933

F2 · price: 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: 0001628280-26-009901 · wk-form4_1771540321.xml · nonDerivative · entry 1

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 247,844

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: 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: 0001628280-26-009900 · wk-form4_1771540313.xml · derivative · entry 6

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 3,300 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.

F1 · kind: 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.

F4 · derivative.exercise_date: On February 16, 2022, the reporting person was granted 2,640 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional 25 percent of the restricted stock units became vested on February 16, 2024, an additional 25 percent of the restricted stock units became vested on February 16, 2025, and the remaining balance of 25 percent of the restricted stock units became vested on February 16, 2026.

F4 · derivative.expiration_date: On February 16, 2022, the reporting person was granted 2,640 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional 25 percent of the restricted stock units became vested on February 16, 2024, an additional 25 percent of the restricted stock units became vested on February 16, 2025, and the remaining balance of 25 percent of the restricted stock units became vested on February 16, 2026.

SEC source: 0001628280-26-009900 · wk-form4_1771540313.xml · derivative · entry 5

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,230

Underlying: Common Stock, par value $0.001 per share · 3,230 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.

F1 · kind: 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 15, 2023, the reporting person was granted 2,584 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 15, 2024, an additional 25 percent of the restricted stock units became vested on February 15, 2025, an additional 25 percent of the restricted stock units became vested on February 15, 2026, and the remaining balance of 25 percent of the restricted stock units will vest on February 15, 2027.

F3 · derivative.expiration_date: On February 15, 2023, the reporting person was granted 2,584 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 15, 2024, an additional 25 percent of the restricted stock units became vested on February 15, 2025, an additional 25 percent of the restricted stock units became vested on February 15, 2026, and the remaining balance of 25 percent of the restricted stock units will vest on February 15, 2027.

SEC source: 0001628280-26-009900 · wk-form4_1771540313.xml · nonDerivative · entry 4

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 206,951

F2 · price: 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: 0001628280-26-009900 · wk-form4_1771540313.xml · nonDerivative · entry 3

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 208,600

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: 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: 0001628280-26-009900 · wk-form4_1771540313.xml · nonDerivative · entry 2

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 205,370

F2 · price: 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: 0001628280-26-009900 · wk-form4_1771540313.xml · nonDerivative · entry 1

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 207,055

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: 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: 0001628280-26-003889 · wk-form4_1769638195.xml · nonDerivative · entry 6

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 53,515

F3 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on August 11, 2025.

SEC source: 0001628280-26-003889 · wk-form4_1769638195.xml · nonDerivative · entry 5

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 56,313

F3 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on August 11, 2025.

SEC source: 0001628280-26-003895 · wk-form4_1769638224.xml · nonDerivative · entry 4

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 203,755

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003895 · wk-form4_1769638224.xml · nonDerivative · entry 3

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 212,490

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003895 · wk-form4_1769638224.xml · nonDerivative · entry 2

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 195,381

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003895 · wk-form4_1769638224.xml · nonDerivative · entry 1

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 199,980

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003894 · wk-form4_1769638218.xml · nonDerivative · entry 2

Kapoor Rohit · CIK 0001373630 · Director · Chairman & CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,206,878

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · ownership.direct: Owned by Rohit Kapoor.

SEC source: 0001628280-26-003894 · wk-form4_1769638218.xml · nonDerivative · entry 1

Kapoor Rohit · CIK 0001373630 · Director · Chairman & CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,068,494

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · ownership.direct: Owned by Rohit Kapoor.

SEC source: 0001628280-26-003893 · wk-form4_1769638213.xml · nonDerivative · entry 4

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 149,276

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003893 · wk-form4_1769638213.xml · nonDerivative · entry 3

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 158,368

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003893 · wk-form4_1769638213.xml · nonDerivative · entry 2

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 135,056

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003893 · wk-form4_1769638213.xml · nonDerivative · entry 1

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 139,840

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003892 · wk-form4_1769638206.xml · nonDerivative · entry 4

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 242,989

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003892 · wk-form4_1769638206.xml · nonDerivative · entry 3

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 251,558

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003892 · wk-form4_1769638206.xml · nonDerivative · entry 2

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 229,784

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003892 · wk-form4_1769638206.xml · nonDerivative · entry 1

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 234,293

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003891 · wk-form4_1769638201.xml · nonDerivative · entry 4

Jetley Vivek · CIK 0001798124 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 414,609

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003891 · wk-form4_1769638201.xml · nonDerivative · entry 3

Jetley Vivek · CIK 0001798124 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 427,501

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003891 · wk-form4_1769638201.xml · nonDerivative · entry 2

Jetley Vivek · CIK 0001798124 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 404,189

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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 is used for purposes of computing tax reporting and withholding.

SEC source: 0001628280-26-003891 · wk-form4_1769638201.xml · nonDerivative · entry 1

Jetley Vivek · CIK 0001798124 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 410,972

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003889 · wk-form4_1769638195.xml · nonDerivative · entry 4

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 61,629

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: 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: 0001628280-26-003889 · wk-form4_1769638195.xml · nonDerivative · entry 3

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 68,938

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003889 · wk-form4_1769638195.xml · nonDerivative · entry 2

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 55,722

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

F2 · price: 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: 0001628280-26-003889 · wk-form4_1769638195.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 59,570

F1 · kind: 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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.

SEC source: 0001628280-26-003330 · wk-form4_1769206286.xml · derivative · entry 2

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 6,960 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.

F2 · derivative.exercise_price: Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc.

F3 · derivative.exercise_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

F3 · derivative.expiration_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

SEC source: 0001628280-26-003330 · wk-form4_1769206286.xml · nonDerivative · entry 1

Kini Narasimha · CIK 0001373631 · Executive Vice President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 190,973

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 · shares: Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.

SEC source: 0001628280-26-003329 · wk-form4_1769206280.xml · derivative · entry 2

Jetley Vivek · CIK 0001798124 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 6,960 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.

F2 · derivative.exercise_price: Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc.

F3 · derivative.exercise_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

F3 · derivative.expiration_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

SEC source: 0001628280-26-003329 · wk-form4_1769206280.xml · nonDerivative · entry 1

Jetley Vivek · CIK 0001798124 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 398,707

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 · shares: Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.

SEC source: 0001628280-26-003328 · wk-form4_1769206275.xml · derivative · entry 3

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 6,960 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.

F2 · derivative.exercise_price: Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc. (the "Company").

F3 · derivative.exercise_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

F3 · derivative.expiration_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

SEC source: 0001628280-26-003328 · wk-form4_1769206275.xml · nonDerivative · entry 2

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 127,575

SEC source: 0001628280-26-003328 · wk-form4_1769206275.xml · nonDerivative · entry 1

Bhalla Vikas · CIK 0001373633 · President of EXL

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 130,040

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 · shares: Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.

SEC source: 0001628280-26-003326 · wk-form4_1769206263.xml · derivative · entry 2

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 6,670 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.

F2 · derivative.exercise_price: Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc.

F3 · derivative.exercise_date: On March 31, 2022, the reporting person was granted 20,025 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

F3 · derivative.expiration_date: On March 31, 2022, the reporting person was granted 20,025 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

SEC source: 0001628280-26-003326 · wk-form4_1769206263.xml · nonDerivative · entry 1

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 52,613

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 · shares: Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.

SEC source: 0001628280-26-003327 · wk-form4_1769206269.xml · derivative · entry 2

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 6,960 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.

F2 · derivative.exercise_price: Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc.

F3 · derivative.exercise_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

F3 · derivative.expiration_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

SEC source: 0001628280-26-003327 · wk-form4_1769206269.xml · nonDerivative · entry 1

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 222,835

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 · shares: Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.

SEC source: 0001628280-26-000662 · wk-form4_1767653384.xml · derivative · entry 3

Nicolelli Maurizio · CIK 0001472650 · Executive Vice President & CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,960

Underlying: Common Stock, par value $0.001 per share · 13,925 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: Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc.

F2 · derivative.exercise_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025.

F2 · derivative.expiration_date: On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025.