Living our purpose

1 Engineering modern businesses to improve everyday lifeAnnual Report 2020 Living our purposeTo our shareholders 1 Constant currency revenue growth is not a measurement of financial performance prepared in accordance with GAAP. See Non-GAAP Financial Measures on pages 27-29 of the Annual Report on Form Free cash flow is not a measurement of financial performance prepared in accordance with GAAP. See 2020 performance on page 20 for additional 2020, we made significant progress in our effort to strengthen the company s position for accelerated revenue growth. We intensified our client-centricity, refined our strategy, and established a healthier cost structure that enabled us to make further investments in line with our strategy, we reshaped our portfolio of services and solutions by exiting non-strategic businesses and investing organically and complemented our talented teams with the hiring of diverse, highly skilled leaders, among them new executive committee members.

2 We also lifted the engagement levels of our associates to new strategic, commercial, and operational progress is a tribute to the cohesiveness and energy of our leadership team and the engagement of our nearly 300,000 associates. They stepped up to deliver tremendous value to clients, colleagues, and the communities in which we work and s full-year 2020 revenue was $ billion, a year-over-year decline of , or a decline of in constant operating margin was GAAP diluted EPS was $ , and free cash flow2 was $ 2020, Cognizant returned approximately $ billion to shareholders through share repurchases and dividend into a new growth phaseWe entered 2021 with growing confidence in our prospects. We believe we are in a new phase of growth propelled by increased commercial momentum, a portfolio focused on faster-growing market and geographic segments, a stronger partner ecosystem, a more robust demand environment, and a better cost structure.

3 We are resolved to reestablish Cognizant as an industry 2020 Annual Report 1In our knowledge-intensive business, the road to that future begins with our associates. They are the source of our creative problem- solving, innovative solutions, and competitive advantage. We are investing in their learning and professional development, and have overhauled our talent management and annual performance evaluation processes to develop a high-performance culture that creates conditions for everyone to our purpose , improving livesOur associates are united and energized by the company s new purpose , vision, strategic priorities, bold moves, and values, which we call the Cognizant Agenda. Cognizant s purpose is to engineer modern businesses to improve everyday life. This statement explains why we are in business, serves as our North Star, and conveys that, although we are a B2B company, the work we do with and for clients, most of whom are among the world s largest corporations, helps improve everyday life for people gauge how well we are Living our purpose and clarify our aspirations, we established a vision: to become the preeminent technology services partner to the Global 2000 C-suite.

4 We see value in being the trusted advisor to our clients most senior leaders and in increasing the percentage of the Global 2000 that rely on us to sharpen their achieve this vision, we are now several quarters into executing a strategy with four related priorities: repositioning the Cognizant brand, globalizing the company, accelerating digital, and increasing our client a stronger, global brandOur aim is to position Cognizant as a preeminent technology services leader with world-class digital solutions and the talent to deliver transformative business outcomes to clients. This will enable us to reach beyond the CIO office to the entire C-suite as well as to the next generation of talent we want to attract to , we are investing substantially in our brand and executing a fully integrated marketing approach that combines experiential engagement, sponsorships, broad-reach advertising, flagship thought leadership, and an always-on digital presence, along with public relations, employee communications, and social media Cognizant 2020 Annual ReportGlobalizing our businessElevating the visibility of our brand dovetails with further globalizing Cognizant.

5 About three-quarters of our annual revenue comes from North America, creating a substantial opportunity to diversify our revenue mix by scaling our business are investing for growth in select countries, including through M&A. For example, in Australia, we acquired Servian, a Sydney-based enterprise transformation consultancy that specializes in data analytics, AI, digital services, experience design, and cloud. In Germany, we signed an agreement in March 2021 to acquire Munich-based ESG Mobility, a digital automotive engineering R&D provider for connected, autonomous, and electric are also drawing on a new team of international leaders who bring fresh thinking along with local expertise and business connections, and position us for exponential growth in our international addition, we are extending our Global Delivery Network with a geographically diverse footprint that will ensure greater robustness and resilience in our capabilities, further industrialize and automate our distributed work models, and provide more access to local talent.

6 This network, which will complement our major hub in India, will include more near-shore and on-shore locations to enable deeper collaboration with clients at every stage of their digital transformation digital, modernizing businessesThe pandemic s shockwaves have driven digital into the heart of clients operating models and processes. Clients are shifting from an industrial to a software-centric model, transforming their business and IT architectures in parallel, and developing agile workflows underpinned by AI and response, we are helping clients deploy a new business and technology stack to modernize their businesses. That way they can innovate faster, become more agile, and stay relevant to their strengthen our ability to engineer modern businesses, we invested more than $1 billion in acquisitions focused on building our leadership positions in experience-driven software engineering, data and AI, cloud, and IoT.

7 Seven of our recent acquisitions have been cloud-related, among them Collaborative Solutions, a global consultancy specializing in Workday enterprise cloud applications for finance and human resources, and Linium, which broadens our enterprise service management capabilities and complements our ServiceNow 2020 Annual Report 3We have also built close relationships with the world s leading hyperscale and SaaS companies and can help clients run their core applications and create more agile workflows in the cloud with our dedicated business groups for Microsoft, Amazon Web Services, and Google Cloud expect to be one of the biggest beneficiaries of clients moving digital into the heart of their our client relevanceWe are grateful for our clients. They inspire us to learn, grow, and provide increasing value year after year.

8 In return, they count on us to bring them insights and innovative thinking. To increase our relevance to clients, we are determined to present a deeply informed point of view about their business challenges, along with the technology solutions and partner orchestration required to solve , we are deepening our industry and sub-industry knowledge to better serve their business priorities. In keeping with our evolution to more outcome-based client engagements, we are drawing on our rich history in application and data services, the scale and breadth of our skills, and our ability to develop and deliver industry-specific solutions that leverage our partner is speeding its pivot from a provider of resources and capabilities to a solution designer and integrator, assisting clients in their digital a better worldThe public health, economic, and societal damage wrought by COVID-19 have caused most businesses to reflect deeply on what they owe their stakeholders.

9 In keeping with our purpose , we strive to be a modern corporation that is responsive to the larger contexts in which we operate societal, environmental, technological, economic, and is why the principle of sustainability is so important to us. It expresses our intent to create medium- and long-term shareholder value in ways that do not jeopardize the future for other stakeholders. It speaks to our interdependence with local communities and global that in mind, we joined the United Nations Global Compact (UNGC), a network of more than 12,000 companies that are committed to building a sustainable future. 4 Cognizant 2020 Annual ReportBy signing this compact, we have committed Cognizant to integrating the relevant principles embodied in the UNGC into our company s strategy, day-to-day operations, and organizational our responsibilities to stakeholders begins with protecting the safety, health, and well-being of associates, maintaining business continuity for clients, and supporting the efforts of governments globally to contain the spread of aspect of associate well-being is building a diverse and inclusive organization that creates conditions for everyone to thrive.

10 With that in mind, we have increased our investment in driving greater D&I throughout the company. We have D&I training programs to foster inclusivity. We are expanding our sponsorship programs and hiring initiatives for underrepresented talent across leadership levels. Our improving hiring policies include a candidate pipeline initiative designed to ensure a more diverse interview slate at the vice president level and are also quickly building a more diverse leadership pipeline through programs like Propel, our initiative focused on readying the company s next level of women leaders. We are on track to put 1,000 high-performing women in leadership levels through Propel by the end of 2021. Cognizant was named a Top Employer 2021 in 17 countries globally by the Top Employers Institute, an authority on recognizing excellence in people practices in the a global company, we care deeply about unlocking human potential.