TMI GROUP PROFILE

Confidential

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY 4

FUTURE OF WORK AND FUTURE OF HUMAN CAPITAL MANAGEMENT 5

WALL OF ACHIEVEMENTS 6

LEADERSHIP TEAM 7

TMI GROUP SERVICE OFFERINGS 8

TMI GROUP IMPACT IN IHCM 9

UNIQUE DELIVERY STRATEGY 10

OPPORTUNITIES IN 11 THE NEXT FIVE YEARS

GROWTH PLANS 12

CUSTOMER LIST 13

FINANCIALS 14

EQUITY HOLDINGS 15

ANNEXURE - 1 16

Page No.

EXECUTIVE SUMMARYTMI Group (TMIG) has built a leadership position in Integrated Human Capital Management (IHCM) Consulting & Services in India. Over the 28 years of its existence, TMIG has completed thousands of impactful engagements, including Global-Award winning ones. TMIG has partnered with 400+ large companies across sectors - Banking Financial Services & Insurance (BFSI), Manufacturing & Services, besides many of the world’s largest Multi-Lateral Agencies that are active in global capacity building. On the other hand, TMIG has had millions of professional career support engagements, over the years, with job seekers and learners. Deploying a range of open-source technologies, TMIG integrates Consulting, Solution Development & Deployment with technology-assisted fulfilment across a range of IHCM services. TMIG is closely held by promoters, professionally run and managed by a Board of Directors.

TMIG has recently rolled out expansion plans based on the migration of Indian Talent to Advanced Economies and capacity building of local talent across Emerging Economies. With technology investment in a Business Process Management platform, TMIG has taken the first steps for Thick Data & AI-based advanced analytics in IHCM. This is expected to help address the big issues in HCM.

TMIG believes that corporations will face huge disruptions driven by Artificial Intelligence (AI), Work Automation, Augmented Reality/ Virtual Reality (AR/VR) and Thick Data Analytics. TMIG plans to ride this wave of disruptions to offer higher value-added services across IHCM and become a leading player in India and in the region.

TMIG is now looking for Partners / Investors interested in sharing the next 10 years of growth opportunities arising from plans around:

• Disruptions triggered by changes in future of work

• Indian Talent Migration to Advanced Economies

• Capacity building of Talent in Emerging Economies

• Thick Data and AI-based products & services

4 | Confidential

WALL OF ACHIEVEMENTS

FUTURE OF WORK AND FUTURE OF HUMAN CAPITAL MANAGEMENTBy 2030, organisations will have a mixed workforce - part-time, flexi-time, Time and Zero contract (no minimum working hours) workers, Gig workers etc., in addition to temporary staffing and permanent employees. According to the Future of Workforce research by PWC, the permanent workforce will decline drastically and will be replaced by staffing, part-time, freelance and Gig workers, who will constitute the majority. TMIG is gearing up for this future scenario by creating technology platforms and service lines to enable an integrated view of skills and improvement of performance of this varied workforce.

Top 4 TMIG practices aligned to Future of Work

1. VA Staffing - The NextGen Staffing PracticeStaffing employees get the least attention from HR and business teams which have just enough bandwidth for permanent employees. This is because the staffing employees are spread out, have high attrition and are considered low cost “hire and fire“ resources. But this outlook should change because these resources in sales and customer service are the ONLY “last mile connect“ to the customer.

Staffing services today have been commoditised only to payrolling and compliance. TMIG Value Added (VA) staffing practice is the next generation service enabling the same rigour of a full-time employee to a temporary staffing employee, at an affordable cost. TMIG value addition covers all the five right ingredients - hire, on board, induct, deploy and track performance required for a productive temporary staffing workforce. TMIG is the only staffing company in India with all the five offerings - in house. In addition, thick data analytics will be used to improve productivity and retention of temporary staff.

2. Learning Science PracticeTMIG is India’s first and largest integrated (online and off-line) learning solutions provider to global and Indian corporates. TMIG Learning Science Practice offers solutions in learning technology, learning assessments and learning content - for mobile, tab, laptop, PC and classroom-based learning. TMIG is the only company in India with capabilities in - technology, assessments and content - in house.

3. Thick Data Analytics Practice in HRTMIG has set up a separate team for data visualisation and analytics in HR domain. We believe that it is possible to correlate hiring with retention & performance and RAG tag* employees to improve HR focus using thick data. Counter-intuitive insights are likely if the data is cured and algorithms are based on HR wisdom arising out of TMIG experience of over 29 years.

4. Large Scale Hiring and RPOTMIG is probably the first in India to implement a unique “consortium based hiring”** model for pan India large scale hiring, supported by state of the art technology and automation to optimise quality, speed and cost.

Note: *RAG Tagging is a process by which employee can be categorised and tagged Red, Amber or Green in order to

improve focus of HR Interventions.

**Consortium based hiring is a new model adopted by TMI by which over 100+ recruitment consultants work on a hiring

assignment with TMI as its leader.

TMI GROUP IMPACT IN IHCM5 | Confidential

LEADERSHIP TEAM 6 | Confidential

7 | Confidential

TMI SERVICE OFFERINGS

LEADERSHIP TEAM

T. Muralidharan Group Chairman

PGDM from IIM Ahmedabad

Peter N. Ballem Executive Vice President MBA in Finance from OU

Sampath Kumar Samudrala Vice President MBA from OU

B. Ramakrishnan Group CEO

PGDM from IIM Calcutta

Md. Ishaq Associate Vice President Graduation in Science

Prenul Sogani Senior Vice President

MBA from IIM Calcutta

Rajani Guntur Sr. General Manager MBA HR & Systems

Shashikant Dabral Associate Vice President

PGD-IRPM

Naveen Babu P. General Manager

B.Tech from Nagarjuna University

Srinivas Balusu Dy. General Manager

BSC Diploma from IIM Indore

FUTURE OF WORK AND FUTURE OF HUMAN CAPITAL MANAGEMENT

8 | Confidential

Note: All service offerings are aimed at the same set of customers with huge potential for Cross-Selling.

UNIQUE DELIVERY STRATEGY

9 | Confidential

TMI GROUP IMPACT IN IHCM#

1

2

29

Business No. of yearssince launchSize in 2019-20

• Hired - 4,360

• Onboarded - 22,299

• Locations Hired In - 409

Large ScaleHiring and RPO

19Learning Science Practice

3 11• Associates - 2800

• Locations - 20+

VA staffing - The NextGen Staffing Practice

4 9

• Employer paid role induction - 35,713 (focus on performance & retention on the job)

• Government Paid Training & Placement - 565 youth

• Locations - 40+ Pan India

Skill Training

• eLearning – 346 hours

• Languages – English, Russian, 13 Indian Languages

• Learners enrolled – 11,55,913

• Classroom content - 110+ hours

• Trainees Assessed - 37,112

UniqueDelivery Strategy

FullTime

employees

Full-Time Consultants

Freelancers – Gig workers

Small business partners

Infra-structure Partners

290

30

607

787

118

(Nos. till 19 Mar 2020)

UNIQUE DELIVERY STRATEGYTMIG has opted for a unique delivery strategy for quick scalability and flexibility – a tactical combination of partnership between a small employee-base and large number of Gig-workers. Technology, process adoption and a unique model of capacity building & sustenance of gig-workers has helped in ensuring quality and reducing any risk from using off-roll workforce.

10 | Confidential

OPPORTUNITIES IN THE NEXT FIVE YEARS

OPPORTUNITIES IN THE NEXT FIVE YEARSTMIG is getting ready for drastic changes expected in “the future of work and HCM”, aligning to TOP 5 expected trends:

India will maintain GDP growth rates of 8% per annum to reach 5 trillion US$ economy; demand for talent in Indian corporate sector will continue to grow.

Japanese FDI into India will reach 5.5 US$ billion in the next 5 years; Japan will become one of India’s largest trading and investment partners.

Corporates will reduce full-time manpower and depend on various employment models – part-time, work from home, staffing and term contracts, Gig or freelance workers etc.; advanced predictive analytics and end-to-end technology will be required to manage the productivity of this diverse set of employees.

Indian talent will move across continents, especially to countries with ageing population like Japan and Germany. India will be a large exporter of talent to the world in Non-IT domain, which may be larger than the IT domain till date.

Multi-lateral Agencies will invest a lot in capacity building across emerging economies in areas such as Nutrition, Public Procurement, Public Finance Management, Sanitation and Skills & Livelihoods, that TMIG has significant experience in.

11 | Confidential

GROWTH PLANS

12

3

45

GROWTH PLANSTMIG has followed a conservative growth approach till recently and has grown organically with mostly investments from internal accruals and debt. In alignment with opportunities mentioned earlier, TMIG’s growth plans include:

• Increasing the profitability through process automation, capacity expansion and cross-selling of additional service to customers. TMIG has invested in BPM online software-based automation solutions and its first implementation is under way.

• Creating a strong presence in Japan and Germany with local offices to support cross-border movement of Indian talent in IT and non-IT sectors. A brief note is attached as Annexure 1.

• Creating leadership position in Thick Data Predictive Analytics and AI based Automated solutions in IHCM and in value added staffing. An experienced AI / Thick data analytics team has been inducted.

• Creating AR/VR based learning solutions for USA, Japan and other developed economies which will require huge re-skilling due to disruptive job losses, prototypes for which are under development currently.

12 | Confidential

CUSTOMER LIST OF (ILLUSTRATIVE) TMI GROUP

AI : Artificial IntelligenceAR : Augmented RealityVR : Virtual Reality

CUSTOMER LIST OF (ILLUSTRATIVE) TMI GROUP

Industry Customer list

Manufacturing including FMCG

AV Birla Group, Coca-Cola, JSW Group, Mahindra Group, Murugappa Group, Pidilite, Tata Group

BankingAxis Bank, IDFC Bank, Kotak Bank, RBL Bank

Insurance Birla Sunlife, LIC, Max New York Life

Financial ServicesBajaj Auto Finance, Mahindra Finance, Tata Capital

Multi-Lateral Agencies

Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ), World Bank, World Health Organization, UNDP, UNICEF

13 | Confidential

Note: TMI Group has engaged with over 400 corporations over the last ten years

TMI’S FORAY INTO JAPAN & GERMANY

FINANCIALS

# Indicators

TM Inputs & Services

Pvt Ltd (TMI Network)

C&K Man-agement Ltd (C&K)

TMI e2E Academy

Private Ltd

Group Totals

All figures in Rs million unless otherwise indicated

1Turnover 2018-19 (Audited)

666.06 101.97 192.53 960.56

2EBITDA 2018-19 (Audited)

26.84 10.77 37.14 74.75

3Growth of turnover in the last 5 years 2014-2019 - CAGR (% p.a)

25% 9% 14% 20%

4EBITA as % of Revenue of 2018 - 19 Provisional

4%12% without Staffing pass

through

12% 20%

9%17% without Staffing pass

through

5Growth of EBITDA in the last 5 years 2014-2019 - CAGR (% p.a)

27% 8%NA since EBITDA was negative in

the first yearNA

6External debt for working capital as on 31 Mar 2019

60.25 13.96 Nil 74.21

7

External subsidized developmental long-term debt from NSDC as on 31 Mar 2019

NA NA 180.6 180.6

8Turnover planned for 2019-2020

902.0 136.0 212.7 1250.6

9EBIDTA planned for 2019-2020

29.4 17.2 49.9 96.5

10Turnover 2019-2020(Projected)

818.52 88.03 154.00 1061.43

11EBIDTA 2019-2020(Projected)

8.57 5.93 (4.38) 10.12

14 | Confidential

EQUITY HOLDINGS IN TMIG COMPANIES

EQUITY HOLDINGS IN TMIG COMPANIES

TM Inputs C&K Management Ltd TMI e2E Academy Total Equity

Rs million % Rs million % Rs million %Rs

million %

Promoters 5.5 83% 11.6 31% - 0% 10.7 11%

Employees 0.4 5% 0 0 - 0% 4.2 4%

Group company - 0% 24.9 66% 50.8 99% 75.7 79%

Others 0.8 12% 1.1 3% 0.3 1% 4.7 5%

Total 6.6 100% 37.6 100% 51.1 100% 95.4 100%

15 | Confidential

As on 31st March, 2019

TMI’S FORAY INTO JAPAN & GERMANY

Japan’s Employment Scenario• Japan is currently facing an extreme demographic challenge. The population is declining and

ageing at unprecedented rate 28% of its population is already over 65 years of age.

• A direct effect is Human Resource shortage in the economy. According to the Ministry of Health Labour and welfare, new job offers to applicant ratio is around 2:4 and rising. With the domestic talent pool shrinking, Japan desperately needs foreign talent.

• The shortage is most evident in the areas of Science, Technology, Engineering and Mathematics (STEM).

• According to The Ministry of Economy, Trade and Industry there is already shortage of 200,000 IT/Software professionals and the deficit will rise to 789,000 by 2030.

• A preferential immigration treatment system for highly-skilled foreign professionals is in place to attract overseas talent. Moreover, many companies in Japan are waiving Japanese Language requirements to welcome global talent.

Germany’s Employment Scenario• Germany is yet another high income country which is facing the issue of aging society. More

than 21% of its population is above 65years, with the current rate, working age population will drop by 3.9 million,by 2030.

• Although there isn’t nation-wide skills shortage at present, it is impossible to fill vacancies in certain regions and sectors. According to German Economic Institute (IW) in Cologne, shortage of skilled workers for STEM jobs has widened to 338,000.

• Particularly, for IT specialists, there are currently 82,000 vacancies in Germany, as reported by Bitkom(Federal Association for Information Technology, Telecommunication & New Media).

• There is free movement of labour in EU, even then the shortage is so huge that Germany has no other option but to look at non-European countries.

• A new Skilled Labour Immigration Act will further make it easier for professionals from countries like India to enter Germany for employement, in the coming years.

TMI’s move towards Japan & Germanyo Overview

• Early in 2018, TMI Group undertook a secondary market research of the Japanese Labour Market. Despite the complimentary nature of Indian and Japanese job market, Indians have remained ignorant to the prospects of exporting Human Resource to Japan.

• Owing to a plethora of opportunities in Japan, TMI established a Japan Desk within the organisation. TMI also on-boarded Mr. Tomio Isogai (Ex-MD of Sharp India), as Japan Business Advisor, and met several Japanese entities like JETRO, JITCO, CSAJ and potential recruitment/language training partners in Japan.

TMI’S FORAY INTO JAPAN & GERMANY

16 | Confidential

ANNEXURE - 1

• TMI not only obtained confirmation of demand in Japan from primary sources, but also identified the areas of strategic partnerships and support, crucial for market entry.

• Very similar prospects, such as that of Japanese job market, are available in Germany as well. Hence, Germany was added in the scope of this new business unit.

• Adding Germany to the portfolio has an additional tactical advantage; as the risk of investment in internally managed resources and activities, such as fixed cost of recruiters, selectors, managers, and campus activation, will get distributed.

• In case, entry in one market gets jeopardised because of delivery failure of a partner (language training or demand aggregation), success in the other market would absorb the shock to a considerable extent.

o Immediate Scope and Sourcing Strategy

• Currently, TMI is focused towards establishing a sustainable model, specifically for supplying Engineering Talent (both IT and Core) from India to Japan and Germany.

• Often talented professionals from smaller towns and cities in India, who are not very proficient in English, do not get enough recognition and opportunity in India or the west. We believe these are the perfect candidates who will appreciate the chance to prove their worth in Japan and Germany.

• TMI understands the importance of Language and Culture Training for success in these two markets, and is working towards developing and rolling out an immersive program that will eliminate the need of undergoing long duration courses (specifically for Japanese).

• In one year’s time TMI plans to open a full-fledged office in Japan, meanwhile it will utilise facilities provided by JETRO to carry on with its pilot recruitment projects.

• TMI has recently engaged with ATCO GmbH, to assess the potential of extending the same business model to German Market.

o Going Forward

• TMI’s long term vision is to establish staffing companies in these markets, which will aid in retaining Indian talent by companies there; as we will ensure that the candidates get comfortably accustomed to a new environment and there needs are addressed.

• On the candidates’ side,TMI will create opportunity for cross border mobility for them, by finding them suitable jobs back in India. This will safeguard their interest in returning to India when they have spent a long period of time in overseas or have unanticipated problems back at home.

• All in all, Japanese and German markets, with ever increasing demand and standard recruitment fee as high as 15% to 30% of a candidate’s annual salary, have the potential to grow TMI’s business exponentially in the coming decade, all the while increasing the profitability of the group.

17 | Confidential

For more information about this brief please write to: sailaja.y@tmie2e.com