NEW YORK, March 17, 2026 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a global data and AI company, today announced that, as part of its capital allocation program, it has entered into an accelerated share repurchase agreement (the "ASR") with Morgan Stanley & Co. LLC to repurchase $125 million of the company's common stock.

Chairman and Chief Executive Officer Rohit Kapoor said, "EXL's recognized industry expertise and leadership in embedding AI in our clients' businesses are resonating strongly with the market and fueling our growth with new and existing clients. This ASR, a part of our recently authorized $500 million common stock repurchase program, represents confidence in our ability to continue our growth trajectory and generate significant free cash flow."

Under the ASR, the company will pay an aggregate amount of $125 million to Morgan Stanley for an initial number of shares of the company's common stock at the beginning of the transaction. The company plans to fund the repurchase with available cash on hand and/or borrowing from its credit facility. The ultimate number of shares of common stock that the company will repurchase under the ASR Agreement will be based on the average of the daily volume-weighted average prices of the common stock during the term of the ASR, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR.

About ExlService Holdings, Inc.

EXL (NASDAQ:EXLS) is a global data and artificial intelligence ("AI") company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare and life sciences, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have over 65,000 employees spanning six continents. For more information, visit www.exlservice.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include statements about the timing and manner of the final settlement under the ASR, our ability to maintain and grow client demand, risks related to the use of AI technology, impact on client demands by our selling cycles, our ability to hire and retain sufficiently trained employees, our ability to accurately estimate and/or manage costs, and risks related to the international nature of our business, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

Contacts:

Andrew Thut

Head of Investor Relations and Capital Markets

ir@exlservice.com

Keith Little

Head of Public Relations

media.relations@exlservice.com

EXL announces $125 million accelerated share repurchase program