Infosys positioned as a Leader in Application Modernization and Migration Services as Enterprises shift to Cloud-native technologies for their Modernization needs

Follows ranking as a Leader by Independent Research Firm in Multi-Cloud Managed Service Providers Evaluation

BENGALURU, India, July 22, 2021 /PRNewswire/ -- Infosys (NSE: BSE) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has been positioned as a Leader in The Forrester Wave™: Application Modernization and Migration Services, Q3 2021 report. This announcement follows Infosys' recent recognition as a Leader in The Forrester Wave^TM: Multi-Cloud Managed Service Providers, Q4 2020 report. For Infosys, the positioning in these assessments highlight its vision, and the broad spectrum of cloud capabilities delivered through Infosys Cobalt across application modernization and migration, and multi-cloud managed services.

For the Application Modernization and Migration Services, Q3 2021 report, Forrester evaluated 14 providers across 26 criteria and grouped into three high-level categories: current offering, strategy, and market presence. Infosys received the highest score possible in the service capabilities, execution roadmap, performance, and investments in training and skilling criteria. The report acknowledges Infosys' Live Enterprise model, in which enterprises armed with knowledge and data-enabled insights can adapt rapidly to changing business conditions. The report also recognizes Infosys as a good fit for most modernization and migration opportunities, especially application reimplementation within its existing installed base and in the banking sector. The report further notes that Infosys' boasts a broad range of assets for service delivery and vertical industry solutioning relative to other providers.

"In the 2021 market for the application modernization and migration services, we're witnessing a continuing shift toward modernization enabled by advanced cloud-native technologies, with a correspondingly lower emphasis on infrastructure-led lift-and-shift migration." wrote Bill Martorelli, Principal Analyst, Forrester Research, in the report. In the Infosys profile, he wrote: Infosys' app migration and modernization services sit within its Cobalt program, an overarching cloud framework featuring a panoply of solution accelerators and methodologies. The program itself doubles down on modernization-specific tasks."

In the Multi-Cloud Managed Service Providers Forrester Wave™ report, Infosys' focus on applications services, including build, migrate, operate, and modernize on AWS, Azure and Google Cloud have been noted. Modernization was called out a strong focal point and the report also recognized Infosys Cobalt, a collection of services, solutions, and platforms to accelerate enterprise cloud journey. According to the report, Infosys has been a long-standing player in cloud management technology and is a good fit for companies seeking particularly strong migration and modernization services to assist a smooth and speedy migration.

Commenting on the recognition, Ravi Kumar S, President, Infosys, said, "Enterprises globally are looking at transforming their technology landscape by modernizing their business-critical applications through cloud technologies. Our clients have time and again expressed concerns around the risk of business disruption and the need for a noiseless transition in their modernization programs. With the Infosys Modernization Suite, part of Infosys Cobalt, we simplify the modernization journey for enterprises and accelerate innovation at scale.  We are proud to be recognized as a leader in Forrester's Wave for application modernization and migration services following the recognition in the multi-cloud managed services rating. We believe these recognitions strengthen our position and reaffirm our commitment to deliver top-notch cloud services to enterprises."

Complimentary copies of the reports can be accessed here:

• The Forrester Wave™: Application Modernization and Migration Services, Q3 2021
• The Forrester Wave™: Multicloud Managed Service Providers, Q4 2020

To learn more about Infosys Cobalt, please visit: www.infosys.com/cobalt

To learn more about Infosys Application Modernization Services, please visit: www.infosys.com/services/application-modernization

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in over 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NSE: BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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