AYYAPPAN AJAY

SEC source: 0001628280-26-037747 · wk-form4_1779481873.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 48,994

SEC source: 0001628280-26-014087 · wk-form4_1772577632.xml · nonDerivative · entry 3

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 54,087

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: 0001628280-26-014087 · wk-form4_1772577632.xml · derivative · entry 4

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 7,982

Underlying: Common Stock, par value $0.001 per share · 3,991 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 27, 2024, the reporting person was granted 15,964 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 27, 2025, an additional 25 percent of the restricted stock units became vested on February 27, 2026, an additional 25 percent of the restricted stock units will vest on February 27, 2027, and the remaining balance of 25 percent of the restricted stock units will vest on February 27, 2028.

F4 · derivative.expiration_date: On February 27, 2024, the reporting person was granted 15,964 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 27, 2025, an additional 25 percent of the restricted stock units became vested on February 27, 2026, an additional 25 percent of the restricted stock units will vest on February 27, 2027, and the remaining balance of 25 percent of the restricted stock units will vest on February 27, 2028.

SEC source: 0001628280-26-014087 · wk-form4_1772577632.xml · nonDerivative · entry 2

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 55,766

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: 0001628280-26-014087 · wk-form4_1772577632.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 57,892

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: 0001628280-26-011826 · wk-form4_1772058767.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 53,901

F1 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on August 11, 2025.

SEC source: 0001628280-26-010799 · wk-form4_1771890714.xml · derivative · entry 4

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,535

Underlying: Common Stock, par value $0.001 per share · 2,845 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.

F5 · derivative.exercise_date: On June 17, 2025, the reporting person was granted 11,380 restricted stock units, vesting in four equal annual installments beginning on February 20, 2026. 25 percent of the restricted stock units became vested on February 20, 2026, an additional 25 percent of the restricted stock units will vest on February 20, 2027, an additional 25 percent of the restricted stock units will vest on February 20, 2028, and the remaining balance of 25 percent of the restricted stock units will vest on February 20, 2029.

F5 · derivative.expiration_date: On June 17, 2025, the reporting person was granted 11,380 restricted stock units, vesting in four equal annual installments beginning on February 20, 2026. 25 percent of the restricted stock units became vested on February 20, 2026, an additional 25 percent of the restricted stock units will vest on February 20, 2027, an additional 25 percent of the restricted stock units will vest on February 20, 2028, and the remaining balance of 25 percent of the restricted stock units will vest on February 20, 2029.

SEC source: 0001628280-26-010799 · wk-form4_1771890714.xml · nonDerivative · entry 2

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 55,098

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: 0001628280-26-010799 · wk-form4_1771890714.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: 56,613

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 · 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: 0001628280-26-010799 · wk-form4_1771890714.xml · derivative · entry 3

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,766

Underlying: Common Stock, par value $0.001 per share · 18,766 shares

Expires not disclosed

F3 · 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 will vest in four equal annual installments, beginning on February 19, 2027. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan).

F4 · derivative.expiration_date: The restricted stock units will vest in four equal annual installments, beginning on February 19, 2027. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan).

SEC source: 0001628280-26-009902 · wk-form4_1771540329.xml · nonDerivative · entry 6

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 53,768

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: 0001628280-26-009902 · wk-form4_1771540329.xml · nonDerivative · entry 5

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 54,817

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: 0001628280-26-009902 · wk-form4_1771540329.xml · derivative · entry 8

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,495

Underlying: Common Stock, par value $0.001 per share · 2,495 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.

F5 · derivative.exercise_date: On February 15, 2023, the reporting person was granted 1,996 (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.

F5 · derivative.expiration_date: On February 15, 2023, the reporting person was granted 1,996 (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: 0001628280-26-009902 · wk-form4_1771540329.xml · derivative · entry 7

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 2,915 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 2,332 (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 2,332 (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: 0001628280-26-009902 · wk-form4_1771540329.xml · nonDerivative · entry 4

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 56,043

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 3

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 57,372

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: 0001628280-26-009902 · 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: 0001628280-26-003889 · 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: 0001628280-26-003889 · 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: 0001628280-26-003326 · 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: 0001628280-26-000657 · wk-form4_1767653359.xml · derivative · entry 3

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,670

Underlying: Common Stock, par value $0.001 per share · 13,355 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 20,025 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.

F2 · 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.

SEC source: 0001628280-26-000657 · wk-form4_1767653359.xml · nonDerivative · entry 2

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,503

SEC source: 0001628280-26-000657 · wk-form4_1767653359.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: 54,889

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.

SEC source: 0001628280-26-002441 · wk-form4_1768601019.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: 47,520

F1 · kind: The reporting person is voluntarily reporting the exempt acquisition of shares of ExlService Holdings, Inc.'s common stock pursuant to the ExlService Holdings, Inc. 2022 Employee Stock Purchase Plan.

SEC source: 0001628280-25-035321 · wk-form4_1752866775.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: 41,534

F1 · kind: The reporting person is voluntarily reporting the exempt acquisition of shares of ExlService Holdings, Inc.'s common stock pursuant to the ExlService Holdings, Inc. 2022 Employee Stock Purchase Plan.

SEC source: 0001628280-25-031942 · wk-form4_1750199113.xml · derivative · entry 1

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,380

Underlying: Common Stock, par value $0.001 per share · 11,380 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 20, 2026. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan).

F2 · derivative.expiration_date: The restricted stock units will vest in four equal annual installments, beginning on February 20, 2026. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan).

SEC source: 0001628280-25-009539 · wk-form4_1741043391.xml · nonDerivative · entry 3

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 40,986

F3 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on November 12, 2024.

SEC source: 0001628280-25-009539 · wk-form4_1741043391.xml · derivative · entry 4

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 11,973

Underlying: Common Stock, par value $0.001 per share · 3,991 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 27, 2024, the reporting person was granted 15,964 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 27, 2025, an additional 25 percent of the restricted stock units will vest on February 27, 2026, an additional 25 percent of the restricted stock units will vest on February 27, 2027, and the remaining balance of 25 percent of the restricted stock units will vest on February 27, 2028.

F4 · derivative.expiration_date: On February 27, 2024, the reporting person was granted 15,964 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 27, 2025, an additional 25 percent of the restricted stock units will vest on February 27, 2026, an additional 25 percent of the restricted stock units will vest on February 27, 2027, and the remaining balance of 25 percent of the restricted stock units will vest on February 27, 2028.

SEC source: 0001628280-25-009539 · wk-form4_1741043391.xml · nonDerivative · entry 2

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 42,851

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: 0001628280-25-009539 · wk-form4_1741043391.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 44,977

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: 0001628280-25-007214 · wk-form4_1740178392.xml · nonDerivative · entry 3

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 40,986

F1 · shares: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on November 12, 2024.

SEC source: 0001628280-25-007214 · wk-form4_1740178392.xml · nonDerivative · entry 2

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 43,447

F1 · shares: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on November 12, 2024.

SEC source: 0001628280-25-007214 · wk-form4_1740178392.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 44,613

F1 · shares: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on November 12, 2024.

SEC source: 0001628280-25-006901 · wk-form4_1740091668.xml · derivative · entry 9

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,990

Underlying: Common Stock, par value $0.001 per share · 2,495 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.

F5 · derivative.exercise_date: On February 15, 2023, the reporting person was granted 1,996 (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 will vest on February 15, 2026, and the remaining balance of 25 of the restricted stock units will vest on February 15, 2027.

F5 · derivative.expiration_date: On February 15, 2023, the reporting person was granted 1,996 (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 will vest on February 15, 2026, and the remaining balance of 25 of the restricted stock units will vest on February 15, 2027.

SEC source: 0001628280-25-006901 · wk-form4_1740091668.xml · derivative · entry 8

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,915

Underlying: Common Stock, par value $0.001 per share · 2,915 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 2,332 (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 of the restricted stock units will vest on February 16, 2026.

F4 · derivative.expiration_date: On February 16, 2022, the reporting person was granted 2,332 (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 of the restricted stock units will vest on February 16, 2026.

SEC source: 0001628280-25-006901 · wk-form4_1740091668.xml · derivative · entry 7

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 · 5,265 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 17, 2021, the reporting person was granted 4,210 (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 17, 2022, an additional 25 percent of the restricted stock units became vested on February 17, 2023, an additional 25 percent of the restricted stock units became vested on February 17, 2024, and the remaining balance of 25 percent of the restricted stock units became vested on February 17, 2025.

F3 · derivative.expiration_date: On February 17, 2021, the reporting person was granted 4,210 (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 17, 2022, an additional 25 percent of the restricted stock units became vested on February 17, 2023, an additional 25 percent of the restricted stock units became vested on February 17, 2024, and the remaining balance of 25 percent of the restricted stock units became vested on February 17, 2025.

SEC source: 0001628280-25-006901 · wk-form4_1740091668.xml · nonDerivative · entry 6

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,975

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: 0001628280-25-006901 · wk-form4_1740091668.xml · nonDerivative · entry 5

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,304

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: 0001628280-25-006901 · wk-form4_1740091668.xml · nonDerivative · entry 4

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 44,809

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: 0001628280-25-006901 · wk-form4_1740091668.xml · nonDerivative · entry 3

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 46,362

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: 0001628280-25-006901 · wk-form4_1740091668.xml · nonDerivative · entry 2

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 43,447

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: 0001628280-25-006901 · wk-form4_1740091668.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: 46,251

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: 0001628280-25-005161 · wk-form4_1739396346.xml · nonDerivative · entry 2

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 40,986

F1 · shares: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on November 12, 2024.

SEC source: 0001628280-25-005161 · wk-form4_1739396346.xml · nonDerivative · entry 1

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

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 50,794

F1 · shares: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on November 12, 2024.