X0508 4 2026-02-19 0 0001297989 ExlService Holdings, Inc. EXLS 0001762098 AYYAPPAN AJAY 320 PARK AVENUE 29TH FLOOR NEW YORK NY 10022 0 1 0 0 EVP & Gen Counsel/Corp. Sec'y. 0 Common Stock, par value $0.001 per share 2026-02-20 4 M 0 2845 0 A 56613 D Common Stock, par value $0.001 per share 2026-02-20 4 F 0 1515 30.41 D 55098 D Restricted Stock Units 2026-02-19 4 A 0 18766 0 A Common Stock, par value $0.001 per share 18766 18766 D Restricted Stock Units 2026-02-20 4 M 0 2845 0 D Common Stock, par value $0.001 per share 2845 8535 D 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. 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. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement. 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). 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. On February 19, 2026, the reporting person was also granted performance-based restricted stock units that are subject to material conditions beyond the reporting person's control, and, therefore, are not considered derivative securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and are excluded from this report. /s/ Ajay Ayyappan 2026-02-23