AYYAPPAN AJAY

SEC source: 0001628280-25-003025 · wk-form4_1738188787.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: 57,172

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 16, 2022. Such shares of Common Stock were deemed earned on January 27, 2025 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2024

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: 0001628280-25-003025 · wk-form4_1738188787.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: 68,344

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: 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 16, 2022. Such shares of Common Stock were deemed earned on January 27, 2025 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2024

SEC source: 0001628280-25-003025 · wk-form4_1738188787.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: 47,364

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 16, 2022. Such shares of Common Stock were deemed earned on January 27, 2025 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2024

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: 0001628280-25-003025 · wk-form4_1738188787.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: 54,986

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: 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 16, 2022. Such shares of Common Stock were deemed earned on January 27, 2025 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2024

SEC source: 0001628280-25-002238 · wk-form4_1737586830.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: 40,986

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: 0001628280-24-039464 · wk-form4_1725499705.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: 40,766

F2 · price: The reporting person's restricted stock units reported in this report vested on September 1, 2024. 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: 0001628280-24-039464 · wk-form4_1725499705.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: 0

Underlying: Common Stock, par value $0.001 per share · 27,075 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 September 1, 2021, the reporting person was granted 40,605 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 September 1, 2023 and the remaining balance of 67% of the restricted stock units became vested on September 1, 2024.

F3 · derivative.expiration_date: On September 1, 2021, the reporting person was granted 40,605 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 September 1, 2023 and the remaining balance of 67% of the restricted stock units became vested on September 1, 2024.

SEC source: 0001628280-24-039464 · wk-form4_1725499705.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: 56,984

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

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

SEC source: 0001628280-24-036528 · wk-form4_1723237337.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: 29,909

F2 · price: This transaction was executed in multiple trades at prices ranging from $34.23 to $34.25 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide, upon request, to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001628280-24-036528 · wk-form4_1723237337.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: 42,514

F1 · price: This transaction was executed in multiple trades at prices ranging from $34.50 to $34.72 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide, upon request, to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001628280-24-032005 · wk-form4_1721173781.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: 50,909

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: 0001628280-24-011261 · wk-form4_1710450270.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: 50,693

F1 · price: This transaction was executed in multiple trades at prices ranging from $31.53 to $31.63 per share. The price reported above reflects the weighted average purchase price on the date indicated. The reporting person hereby undertakes to provide, upon request, to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

SEC source: 0001628280-24-008065 · wk-form4_1709245042.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: 15,964

Underlying: Common Stock, par value $0.001 per share · 15,964 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 27, 2025. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan)

F2 · derivative.expiration_date: The restricted stock units will vest in four equal annual installments, beginning on February 27, 2025. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan)

SEC source: 0001628280-24-006089 · wk-form4_1708566821.xml · derivative · entry 5

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 · 4,200 shares

Expires not disclosed

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

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

F3 · derivative.exercise_date: On February 19, 2020, the reporting person was granted 3,360 (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 19, 2021, an additional 25 percent of the restricted stock units became vested on February 19, 2022, an additional 25 percent of the restricted stock units became vested on February 19, 2023, and the remaining balance of 25 percent of the restricted stock units became vested on February 19, 2024.

F3 · derivative.expiration_date: On February 19, 2020, the reporting person was granted 3,360 (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 19, 2021, an additional 25 percent of the restricted stock units became vested on February 19, 2022, an additional 25 percent of the restricted stock units became vested on February 19, 2023, and the remaining balance of 25 percent of the restricted stock units became vested on February 19, 2024.

SEC source: 0001628280-24-006089 · wk-form4_1708566821.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: 57,493

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: 0001628280-24-006089 · wk-form4_1708566821.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: 59,730

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: 0001628280-24-006089 · wk-form4_1708566821.xml · derivative · entry 6

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,265

Underlying: Common Stock, par value $0.001 per share · 5,260 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.

F4 · 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 will vest on February 17, 2025.

F4 · 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 will vest on February 17, 2025.

SEC source: 0001628280-24-006089 · wk-form4_1708566821.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: 59,952

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: 0001628280-24-006089 · wk-form4_1708566821.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: 62,753

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: 0001628280-24-005694 · wk-form4_1708470530.xml · derivative · entry 6

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,830

Underlying: Common Stock, par value $0.001 per share · 2,915 shares

Expires 2032-02-16

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.

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 will vest on February 16, 2025, and the remaining balance of 25 of the restricted stock units will vest on February 16, 2026.

SEC source: 0001628280-24-005694 · wk-form4_1708470530.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: 55,530

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: 0001628280-24-005694 · wk-form4_1708470530.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: 57,083

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: 0001628280-24-005694 · wk-form4_1708470530.xml · derivative · entry 5

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,485

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

Expires 2033-02-15

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

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

F3 · derivative.exercise_date: On February 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 will vest 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: 0001628280-24-005694 · wk-form4_1708470530.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: 54,168

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: 0001628280-24-005694 · wk-form4_1708470530.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: 55,497

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: 0001628280-24-002768 · wk-form4_1706740951.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: 53,002

F2 · 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 17, 2021. Such shares of Common Stock were deemed earned on January 29, 2024 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2023

F3 · 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: 0001628280-24-002768 · wk-form4_1706740951.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: 75,714

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 · 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 17, 2021. Such shares of Common Stock were deemed earned on January 29, 2024 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2023

SEC source: 0001628280-24-002768 · wk-form4_1706740951.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: 33,614

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: 0001762098-23-000022 · wk-form4_1694033908.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: 27,075

Underlying: Common Stock, par value $0.001 per share · 13,530 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.

F2 · shares: The reported number of securities has been adjusted to reflect the impact of the 5-for-1 forward stock split effective August 1, 2023.

F4 · derivative.exercise_date: On September 1, 2021, the reporting person was granted 8,121 restricted stock units, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on September 1, 2023 and the remaining balance of 67% of the restricted stock units will vest on September 1, 2024.

F4 · derivative.expiration_date: On September 1, 2021, the reporting person was granted 8,121 restricted stock units, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on September 1, 2023 and the remaining balance of 67% of the restricted stock units will vest on September 1, 2024.

F2 · derivative.underlying_shares: The reported number of securities has been adjusted to reflect the impact of the 5-for-1 forward stock split effective August 1, 2023.

F2 · balance_after: The reported number of securities has been adjusted to reflect the impact of the 5-for-1 forward stock split effective August 1, 2023.

SEC source: 0001762098-23-000022 · wk-form4_1694033908.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: 33,390

F3 · price: The reporting person's restricted stock units reported in this report vested on September 1, 2023. 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: 0001762098-23-000022 · wk-form4_1694033908.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: 40,595

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.

F2 · shares: The reported number of securities has been adjusted to reflect the impact of the 5-for-1 forward stock split effective August 1, 2023.

F2 · balance_after: The reported number of securities has been adjusted to reflect the impact of the 5-for-1 forward stock split effective August 1, 2023.

SEC source: 0001762098-23-000020 · wk-form4_1689886999.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: 5,413

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: 0001762098-23-000018 · wk-form4_1687556655.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: 17,909

Underlying: Common Stock, par value $0.001 per share · 17,909 shares

Expires 2033-06-21

F1 · derivative.exercise_date: The stock options will vest in four equal annual installments, beginning on June 20, 2024, subject to certain forfeiture and acceleration events pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan.

F1 · derivative.expiration_date: The stock options will vest in four equal annual installments, beginning on June 20, 2024, subject to certain forfeiture and acceleration events pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan.

SEC source: 0001762098-23-000013 · wf-form4_167727571537255.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,369

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

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · derivative · entry 11

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock, par value $0.001 per share · 517 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: 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.

F8 · derivative.exercise_date: On February 20, 2019, the reporting person was granted 2,065 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 19, 2020 an additional 25 percent of the restricted stock units became vested on February 20, 2021, an additional 25 percent of the restricted stock units became vested on February 20, 2022, and the remaining balance of 25 of the restricted stock units became vested on February 20, 2023.

F8 · derivative.expiration_date: On February 20, 2019, the reporting person was granted 2,065 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 19, 2020 an additional 25 percent of the restricted stock units became vested on February 20, 2021, an additional 25 percent of the restricted stock units became vested on February 20, 2022, and the remaining balance of 25 of the restricted stock units became vested on February 20, 2023.

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 8

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,133

F5 · price: The reporting person's restricted stock units reported in this report vested on February 20, 2023. 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: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 7

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,359

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

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · derivative · entry 10

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 840

Underlying: Common Stock, par value $0.001 per share · 840 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: 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.

F7 · derivative.exercise_date: On February 19, 2020, the reporting person was granted 3,360 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 19, 2021, an additional twenty-five percent of the restricted stock units became vested on February 19, 2022, an additional twenty-five percent of the restricted stock units became vested on February 19, 2023, and the remaining balance of twenty-five percent of the restricted stock units will vest on February 19, 2024.

F7 · derivative.expiration_date: On February 19, 2020, the reporting person was granted 3,360 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 19, 2021, an additional twenty-five percent of the restricted stock units became vested on February 19, 2022, an additional twenty-five percent of the restricted stock units became vested on February 19, 2023, and the remaining balance of twenty-five percent of the restricted stock units will vest on February 19, 2024.

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 6

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,842

F4 · price: The reporting person's restricted stock units reported in this report vested on February 19, 2023. 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: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 5

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,209

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

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 4

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,369

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

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · derivative · entry 9

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,105

Underlying: Common Stock, par value $0.001 per share · 1,053 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: 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.

F6 · derivative.exercise_date: On February 17, 2021, the reporting person was granted 4,210 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 will vest on February 17, 2024, and the remaining balance of 25 of the restricted stock units will vest on February 17, 2025.

F6 · derivative.expiration_date: On February 17, 2021, the reporting person was granted 4,210 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 will vest on February 17, 2024, and the remaining balance of 25 of the restricted stock units will vest on February 17, 2025.

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,962

F3 · price: The reporting person's restricted stock units reported in this report vested on February 17, 2023. 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: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,422

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

SEC source: 0001762098-23-000011 · wf-form4_167710332945543.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,369

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

SEC source: 0001762098-23-000010 · wf-form4_167701672995840.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,749

Underlying: Common Stock, par value $0.001 per share · 583 shares

Expires not disclosed

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

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

F3 · derivative.exercise_date: On February 16, 2022, the reporting person was granted 2,332 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional twenty-five percent of the restricted stock units will vest on February 16, 2024, an additional twenty-five percent of the restricted stock units will vest on February 16, 2025; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 16, 2026.

F3 · derivative.expiration_date: On February 16, 2022, the reporting person was granted 2,332 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional twenty-five percent of the restricted stock units will vest on February 16, 2024, an additional twenty-five percent of the restricted stock units will vest on February 16, 2025; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 16, 2026.

SEC source: 0001762098-23-000010 · wf-form4_167701672995840.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,697

F2 · price: The reporting person's restricted stock units reported in this report vested on February 16, 2023. Under the Company's 2018 Amendment and Restatement of the 2006 Omnibus Award 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: 0001762098-23-000010 · wf-form4_167701672995840.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,952

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

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

SEC source: 0001762098-23-000008 · wf-form4_167667171856053.xml · derivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,996

Underlying: Common Stock, par value $0.001 per share · 1,996 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 15, 2024. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

F2 · derivative.expiration_date: The restricted stock units will vest in four equal annual installments, beginning on February 15, 2024. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

SEC source: 0001762098-23-000006 · wf-form4_167537545660004.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,369

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