6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2023

Commission File Number: 001-40841

TDCX Inc.

750D Chai Chee Road,

#06-01/06 ESR BizPark @ Chai Chee

Singapore 469004

(65) 6309-1688

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

TABLE OF CONTENTS

Exhibit 99.1	Press Release
Exhibit 99.2	Second Quarter 2023 Results Presentation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TDCX INC.
By:	/s/ Laurent Junique
Name:	Laurent Junique
Title:	Executive Chairman and Chief Executive Officer

Date: August 23, 2023

EX-99.1

Exhibit 99.1

TDCX’s second quarter 2023 profit up 9.4%

Singapore, August 24, 2023 – TDCX Inc. (NYSE: TDCX) (“TDCX” or the “Company”), an award-winning digital customer experience (CX) solutions provider for technology and blue-chip companies, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Financial Highlights¹

• Total revenue of US$126.2 million, up 5.5% year-on-year, including a 5.8% point negative impact of foreign exchange rates compared with the prior year period, and up 11.3% in constant currency terms²

• Profit for the period was US$21.6 million, up 9.4% year-on-year

Mr. Laurent Junique, Chief Executive Officer and Founder of TDCX, said, “This quarter, we continued to demonstrate resilience amid an uncertain macroeconomic environment. In this challenging landscape, our focus remains on having a steadfast approach to operational excellence, value-adding to our clients through our consulting services, and exercising discipline in managing our business. This focus has also enabled us to increase our revenue from clients outside the top five by 67 per cent year-on-year.

“We are at an exciting point in the CX industry. Technological advancements, including in generative artificial intelligence (AI), pave the way for us to provide faster, better and more efficient ways of delivering customer satisfaction. Such developments hold much promise for our industry. I am confident that our ability to help clients design and implement solutions for increasingly complex customer needs and our investments into capabilities including AI put us in an advantageous position for growth in the long term.”

(US$ million1, except for %)	Q2 2022			Q2 2023			% Change
Revenue		119.7			126.2		+5.5% (+11.3% on a constant currency basis)2
Profit for the period		19.8			21.6		+9.4%
Net profit margin (%)		16.5	%		17.1	%
EBITDA2		34.4			33.7		-2.2%
EBITDA Margins2 (%)		28.8	%		26.7	%
Adjusted EBITDA2, 3		35.1			32.7		-7.1%
Adjusted EBITDA Margins2,3 (%)		29.4	%		25.9	%
Adjusted Net Income2,3		21.0			21.0		0.0%

Q2 23 Business Highlights

Continued strong client growth

• Client count^4,5 up 52% year-on-year, bringing total client count to 91 as of 30 June 2023, compared to 60 as of 30 June 2022

• New launched clients include an established global e-commerce platform, a rapidly growing fast-fashion e-commerce platform, and a leading global travel platform based out of Asia

Improved client diversification

• Revenue from clients outside the top five rose 67% year-on-year⁵

• Revenue mix from top five clients lowered to 73% in Q2 23 from 83% in Q2 22

New geographies contributing

• Revenue from new geographies⁶ was 9 times in Q2 23 versus Q2 22

Full Year 2023 Outlook

For the full year 2023, TDCX expects its financial results to be:

2023 Outlook
Revenue growth (YoY)	Range: 2% – 4% (On a constant currency basis2,7)
Adjusted EBITDA margin1	Approximately 25% – 27%

Detailed Financial Information on the Form 6-K

Please refer to https://investors.tdcx.com/financials/quarterly-results/default.aspx for the detailed financial information contained in Form 6-K.

¹  FX rate of US$1 = S$1.3557, being the approximate rate in effect as of June 30, 2023, assumed in converting financials from SG dollar to U.S. dollar.

²  For a discussion of the use of non-IFRS financial measures, see “Non-IFRS Financial Measures”.

³ The reported amounts for Adjusted EBITDA and Adjusted Net Income for the three months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported for the corresponding period last year. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted EBITDA and Adjusted Net Income for the three months ended June 30, 2022.

⁴  “Client count” refers to launched campaigns that are revenue generating.

⁵  Includes additional clients attributable to our Hong Kong subsidiary.

⁶ Refers to sites in Colombia, India, Romania, South Korea, Hong Kong, Türkiye, Vietnam, Brazil and Indonesia.

⁷  We have not reconciled non-IFRS forward-looking revenue growth at constant currency to its most directly comparable IFRS measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. The revenue growth outlook indicated for 2023 is calculated and presented at constant currency, as it would require unreasonable efforts to predict factors out of our control or not readily predictable, such as currency exchange movements over the course of an entire year.

Webcast and Conference Call Information

TDCX senior management will host a conference call to discuss the second quarter 2023 unaudited financial results.

A live webcast of this conference call will be available on TDCX’s website. Access information on the conference call and webcast is as follows:

Date and time:	August 23, 2023, 8:30 PM (U.S. Eastern Time)
	August 24, 2023, 8:30 AM (Singapore / Hong Kong Time)
Webcast link:	https://events.q4inc.com/earnings/TDCX/Q2-2023
Dial in numbers:	U.S. Toll Free: +1 833 470 1428         U.S. (Local): +1 404 975 4839
	Singapore: +65 3158 0255                   Hong Kong: +852 5803 6418
	UK Toll Free: +44 808 189 6484         All others: Dial in numbers
Participant Access Code:	465393

A replay of the conference call will be available at TDCX’s investor relations website (investors.tdcx.com). An archived webcast will be available at the same link above.

For enquiries, please contact:

Investors / Analysts: Jason Lim

lim.jason@tdcx.com

Media: Eunice Seow

eunice.seow@tdcx.com

About TDCX INC.

Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities.

TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, travel and hospitality, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.

TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.

TDCX employs more than 18,700 employees across 30 campuses globally, specifically in Brazil, Colombia, Hong Kong, India, Japan, Malaysia, Mainland China, Philippines, Romania, Singapore, South Korea, Spain, Thailand, Türkiye, and Vietnam. For more information, please visit www.tdcx.com.

Convenience Translation

The Company’s financial information is stated in Singapore dollars, the legal currency of Singapore. Unless otherwise noted, all translations from Singapore dollars to U.S. dollars and from U.S. dollars to Singapore dollars in this press release were made at a rate of S$1.3557 to US$1.00, the approximate rate in effect as of June 30, 2023. We make no representation that any Singapore dollar or U.S. dollar amount could have been, or could be, converted into U.S. dollars or Singapore dollar, as the case may be, at any particular rate, the rate stated herein, or at all.

Non-IFRS Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with IFRS, we use the following non-IFRS financial measures to help evaluate our operating performance:

“EBITDA” represents profit for the year/ period before interest expense, interest income, income tax expense and depreciation and amortization expense. “EBITDA margin” represents EBITDA as a percentage of revenue.

“Adjusted EBITDA” represents profit for the year/ period before interest expense, interest income, income tax expense, depreciation and amortization expense, acquisition-related professional fees, net foreign exchange gains or losses and equity-settled share-based payment expense (or net reversal) incurred in connection with our Performance Share Plan. “Adjusted EBITDA margin” represents Adjusted EBITDA as a percentage of revenue.

“Adjusted Net Income” represents profit for the year/ period before acquisition-related professional fees, net foreign exchange gains or losses and equity-settled share-based payment expense (or net reversal) incurred in connection with our Performance Share Plan, net of any tax impact of such adjustments.

Revenue at constant currency is calculated by translating the revenue of our local subsidiaries in each period in the respective local functional currencies to the Company and its subsidiaries’ presentation currency, using the average currency conversion rates in effect during the comparable prior period, rather than at the actual currency conversion rates in effect during that period.

We believe that EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Revenue at Constant Currency and Revenue Growth at Constant Currency help us to compare our operating performance on a consistent basis by removing the impact of items not directly resulting from our core operations, and thereby help us to identify underlying trends in our operating results, enhancing our understanding of past performance and future prospects.

We exclude items from Adjusted EBITDA and Adjusted Net Income, including acquisition-related professional fees, net foreign exchange gains or losses and equity-settled share-based payment expense (or net reversal) incurred in connection with our Performance Share Plan, as they are not indicative of our ongoing operating performance, and adjusting for such items is meaningful and useful to readers to understand the underlying performance of the business by eliminating the impact of certain items that may obscure trends in the underlying performance of the business.

The above non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or construed as an alternative to revenue, net income, or any other measure of performance or as an indicator of our operating performance. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies because other companies may calculate similarly titled measures differently. For more information on the non-IFRS financial measures, including full reconciliations to the nearest IFRS measure, please see the form 6-K section captioned “Non-IFRS Financial Measures” or the presentation slides.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Among other things, the outlook for the full year, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the performance of TDCX’s largest clients; the successful implementation of its business strategy; the continued service of its founder and certain of its key employees and management; its ability to compete effectively; its ability to navigate difficulties and successfully expand its operations into countries in which it has no prior operating experience; its ability to maintain its pricing, control costs or continue to grow its business; its ability to attract and retain enough highly trained employees; its compliance with service level and performance requirements by, and contractual obligations with, its clients; its exposure to various risks in Southeast Asia; its contractual relationship with key clients; clients and prospective clients’ spending on omnichannel CX solutions and content, trust and safety services; its ability to successfully identify, acquire and integrate companies; its spending on employee salaries and benefits expenses; and its involvement in any disputes, legal, regulatory, and other proceedings arising out of its business operations. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	For the three months ended June 30,
	2023						2022
	US$’000			S$’000			S$’000
Revenue		126,215			171,109			162,256
Employee benefits expense		(83,249	)		(112,860	)		(105,365	)
Depreciation and amortization expense		(8,067	)		(10,937	)		(9,296	)
Rental and maintenance expense		(2,333	)		(3,163	)		(2,376	)
Recruitment expense		(1,760	)		(2,386	)		(3,536	)
Transport and travelling expense		(283	)		(384	)		(395	)
Telecommunication and technology expense		(2,689	)		(3,645	)		(2,842	)
Interest expense		(372	)		(504	)		(471	)
Other operating expense (1)		(2,656	)		(3,601	)		(2,018	)
Share of profit from an associate		—			—			56
Interest income		2,273			3,081			422
Other operating income		437			592			909
Profit before income tax		27,516			37,302			37,344
Income tax expense		(5,882	)		(7,974	)		(10,544	)
Profit for the period		21,634			29,328			26,800
Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations		452			614			9,743
Total comprehensive income for the period		22,086			29,942			36,543
Profit attributable to:
- Owners of TDCX Inc.		21,592			29,271			26,799
- Non-controlling interests		42			57			1
		21,634			29,328			26,800
Total comprehensive income attributable to:
- Owners of TDCX Inc.		22,044			29,885			36,542
- Non-controlling interests		42			57			1
		22,086			29,942			36,543
Basic earnings per share (in US$ or S$) (2)		0.15			0.20			0.19
Diluted earnings per share (in US$ or S$) (2)		0.15			0.20			0.19

(1) We reported foreign exchange gains or losses, as applicable, on a net basis for the relevant period under the “other operating expense” line item.

(2) Basic and diluted earnings per share

	For the three months ended June 30,
	2023		2022
Weighted average number of ordinary shares for the purposes of basic earnings per share		145,080,445		145,596,995
Effect of contingently issuable shares under warrant agreement		23,846		—
Weighted average number of ordinary shares for the purposes of diluted earnings per share		145,104,291		145,596,995

The translation of Singapore Dollar amounts into United States Dollar amounts (“USD”) for the unaudited condensed interim consolidated statement of profit or loss and other comprehensive income above are included solely for the convenience of readers outside of Singapore and have been made at the rate of S$1.3557 to US$1.00, the approximate rate of exchange at June 30, 2023. Such translations should not be construed as representations that the Singapore Dollar amounts could be converted into USD at that or any other rate.

Comparison of the Three Months Ended June 30, 2023 and 2022

Revenue. Our revenue increased by 5.5% to S$171.1 million (US$126.2 million) for the three months ended June 30, 2023 from S$162.3 million for the three months ended June 30, 2022 primarily driven by a 15.5% increase in revenue from sales and digital marketing services followed by a 7.7% increase in revenue from omnichannel CX solutions services rendered, partially offset by a 19.3% decrease in revenue from content, trust and safety services.

• Our revenue from omnichannel CX solutions services increased by 7.7% to S$102.7 million (US$75.8 million) from S$95.3 million for the same period of 2022 primarily due to higher business volumes driven by the expansion of existing campaigns by clients in the travel and hospitality, gaming, fast moving consumer goods, financial services, and technology verticals, partially offset by a lower demand for our services from existing clients in the fintech, and digital advertising and media verticals.

• Our revenue from sales and digital marketing services increased by 15.5% to S$45.1 million (US$33.3 million) from S$39.1 million for the same period of 2022 primarily due to the expansion of existing campaigns by our key digital advertising and media clients, E-commerce, and scaled up contributions from new clients secured during 2022.

• Our revenue from content, trust and safety services decreased by 19.3% to S$21.8 million (US$16.1 million) from S$27.0 million for the same period of 2022 primarily due to contraction of volumes requirement by existing clients in the digital advertising and media vertical, but mitigated partially by higher volumes in the travel and hospitality vertical.

• Our revenue from our other service fees increased by 70.3% to S$1.5 million (US$1.1 million) from S$0.9 million for the same period of 2022 primarily due to an expansion of existing campaigns.

The following table sets forth our service provided by amount for the three months ended June 30, 2023 and 2022.

	For the three months ended June 30,
	2023				2022
	US$’000		S$’000		S$’000
Revenue by service
Omnichannel CX solutions		75,761		102,709		95,325
Sales and digital marketing		33,264		45,096		39,055
Content, trust and safety		16,062		21,776		26,979
Other service fees #		1,128		1,528		897
Total revenue		126,215		171,109		162,256

^#  Other service fees comprise revenue from other business process services and revenue from other services.

Employee Benefits Expense. Our employee benefits expense increased by 7.1% to S$112.9 million (US$83.2 million) from S$105.4 million for the same period of 2022 primarily due to higher employee headcount. This was partially offset by a lower share-based payment expenses resulting from changed expectations of the remaining awarded tranches in tandem with recent business dynamics. Our average number of employees in the second quarter of 2023 increased by 20.8% compared to the same period of 2022 driven by higher net business volumes of some existing campaigns in certain verticals, ramp-ups of new campaigns that were commenced in later half of 2022 and new sites launched in 2023. For the quarter ended 30 June 2023, the share-based payment expense has decreased to S$2.7 million (US$1.9 million) as compared to the corresponding quarter in 2022.

Depreciation and Amortization Expense. Our depreciation and amortization expense increased by 17.7% to S$10.9 million (US$8.1 million) from S$9.3 million for the same period of 2022 primarily due to our office space expansion in Malaysia, Thailand and Korea, and depreciation and amortization expense arising from our acquisition of the remaining shareholdings of our former associated company in Hong Kong on October 13, 2022 to become a wholly-owned subsidiary of the Group.

Rental and Maintenance Expense. Our rental and maintenance expense increased by 33.1% to S$3.2 million (US$2.3 million) from S$2.4 million for the same period of 2022 primarily due to the setting up of greenfield sites in Brazil, Indonesia, Türkiye and Vietnam. In addition, the increase was necessitated to support the business expansion of certain existing key clients’ campaigns in China, Malaysia and Thailand that drove the requirement for additional technology infrastructure and equipment.

Recruitment Expense. Our recruitment expense decreased by 32.5% to S$2.4 million (US$1.8 million) from S$3.5 million for the same period of 2022 primarily due to decreased hiring and work permit renewal activities of largely foreign talents in Singapore and Malaysia.

Transport and Travelling Expense. Our transport and travelling expenses remained stable during the two comparative periods.

Telecommunication and Technology Expense. Our telecommunication and technology expense increased by 28.3% to S$3.6 million (US$2.7 million) from S$2.8 million for the same period of 2022 primarily due to an increase in software requirement to support the higher business volumes in campaigns of several existing and new sites.

Interest Expense. Our interest expense increased by 7.0% to $0.5 million (US$0.4 million) from $0.5 million for the same period of 2022 primarily caused largely from higher lease liability interest in tandem with the additional office space in Malaysia, Thailand and Korea, and inclusion of the leased office space of wholly owned Hong Kong subsidiary which was formerly an associated company prior to October 13, 2022.

Other Operating Expense. Our other operating expense increased by 78.4% to S$3.6 million (US$2.7 million) from S$2.0 million for the same period of 2022 primarily due to higher office infrastructure utilities overheads in tandem with additional office spaces, increased professional and advisory engagement fees which also included the remaining costs of a discontinued business acquisition.

Share of Profit from an Associate. This relates to our share of profit from an associated company in Hong Kong which later became a wholly-owned subsidiary on October 13, 2022 following the acquisition of the controlling shares in that business.

Interest Income. Our interest income increased by 630.1% to S$3.1 million (US$2.3 million) from S$0.4 million for the same period of 2022 primarily due to higher placements of excess liquid funds in interest earning deposits and an increase in interest rates in 2023.

Other Operating Income. Our other operating income decreased by 34.9% to S$0.6 million (US$0.4 million) from S$0.9 million for the same period of 2022 primarily due to lower government grants received by our Singapore subsidiaries.

Profit Before Income Tax. As a result of the foregoing, we achieved a profit before income tax of S$37.3 million (US$27.5 million) for the 3 months ended 30 June 2022 (S$37.3 million for the corresponding period of 2022).

Income Tax Expense. Our income tax expense decreased by 24.4% to S$8.0 million (US$5.9 million) from S$10.5 million for the same period of 2022 primarily due to reinstatement of tax incentive in the Philippines that was temporarily suspended in 2022.

Profit for the Period. As a result of the foregoing, our profit for the period increased by 9.4% to S$29.3 million (US$21.6 million) from S$26.8 million for the same period of 2022.

Exchange differences on translation of foreign operations. Exchange differences on translation of foreign operations recognized in other comprehensive income decreased by 93.7% to a gain of S$0.6 million (US$0.5 million) from a gain of S$9.7 million for the same period of 2022 primarily due to the strengthening of the functional currencies of the foreign operations against the Singapore Dollar.

Total Comprehensive Income for the Period. As a result of the foregoing, our total comprehensive income for the period decreased by 18.1% to S$29.9 million (US$22.1 million) from S$36.5 million for the same period of 2022.

Additional Adjustments to Certain Non-IFRS Financial Measures

With effect from January 1, 2023, we have decided to include adjustments for net foreign exchange gains or losses and acquisition-related professional fees in Adjusted EBITDA, Adjusted Net Income and Adjusted EPS, in addition to an adjustment for equity-settled share-based payment expense (or net reversal) that was included in such previously reported non-IFRS measures in prior periods. Over the course of the previous year, we have identified such additional items as not indicative of our ongoing operating performance, and adjusting for such items is meaningful and useful to readers to understand the underlying performance of the business by eliminating the impact of certain items that may obscure trends in the underlying performance of the business. For further information, see “Non-IFRS Financial Measures” below.

Share Repurchase Program

On March 14, 2022, we announced that the board of directors had approved a US$30.0 million share repurchase program. The share repurchase program commenced on March 14, 2022. The repurchase program has no expiration date and may be suspended, modified or discontinued at any time without prior notice. We expect to fund repurchases under this program with our existing cash balance.

Our proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations and its insider trading policy. Our board of directors will review the share repurchase program periodically and may authorize adjustment of its terms and size. All share repurchases are subject to and will be carried out, if at all, in accordance with applicable regulatory requirements.

From April 1, 2023 to August 22, 2023, we purchased 161,928 American Depositary Shares (ADSs) at a cost of US$1,129,000 under our share repurchase program.

NON-IFRS FINANCIAL MEASURES

EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, Adjusted Net Income margin, Adjusted EPS, revenue at constant currency, and revenue growth at constant currency are non-IFRS financial measures. TDCX monitors EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, Adjusted Net Income margin, Adjusted EPS, revenue at constant currency and revenue growth at constant currency because they assist the Company in comparing its operating performance on a consistent basis by removing the impact of items not directly resulting from its core operations.

EBITDA, EBITDA margin, Adjusted EBITDA and Adjusted EBITDA margin

“EBITDA” represents profit for the period before interest expense, interest income, income tax expense, and depreciation and amortization expense. “EBITDA margin” represents EBITDA as a percentage of revenue. “Adjusted EBITDA” represents profit for the period before interest expense, interest income, income tax expense, depreciation and amortization expense, equity-settled share-based payment expense (or net reversal) incurred in connection with our Performance Share Plan, net foreign exchange gain or loss and acquisition-related professional fees. “Adjusted EBITDA margin” represents Adjusted EBITDA as a percentage of revenue.

	For the Three Months ended June 30,
	2023									2022 (4)
	US$’000			S$’000			Margin			S$’000			Margin
Revenue		126,215			171,109			—			162,256			—
Profit for the period and net profit margin		21,634			29,328			17.1	%		26,800			16.5	%
Adjustments for:
Depreciation and amortization expense		8,067			10,937			6.4	%		9,296			5.7	%
Income tax expense		5,882			7,974			4.7	%		10,544			6.5	%
Interest expense		372			504			0.3	%		471			0.3	%
Interest income		(2,273	)		(3,081	)		(1.8	%)		(422	)		(0.3	%)
EBITDA and EBITDA margin		33,682			45,662			26.7	%		46,689			28.8	%
Adjustment:
Equity-settled share-based payment expense (1)		644			873			0.5	%		3,582			2.2	%
Net foreign exchange gain (2)		(1,902	)		(2,578	)		(1.5	%)		(2,635	)		(1.6	%)
Acquisition-related professional fees (3)		227			308			0.2	%		—			—
Adjusted EBITDA and Adjusted EBITDA margin		32,651			44,265			25.9	%		47,636			29.4	%

	For the Six Months ended June 30,
	2023									2022 (5)
	US$’000			S$’000			Margin			S$’000			Margin
Revenue		247,884			336,056			—			314,679			—
Profit for the period and net profit margin		41,703			56,535			16.8	%		49,005			15.6	%
Adjustments for:
Depreciation and amortization expense		16,369			22,191			6.6	%		18,852			6.0	%
Income tax expense		9,840			13,340			4.0	%		18,298			5.8	%
Interest expense		724			982			0.3	%		958			0.3	%
Interest income		(3,605	)		(4,887	)		(1.5	%)		(689	)		(0.2	%)
EBITDA and EBITDA margin		65,031			88,161			26.2	%		86,424			27.5	%
Adjustment:
Equity-settled share-based payment (net reversal) / expense (1)		(3,143	)		(4,261	)		(1.3	%)		11,515			3.7	%
Net foreign exchange gain (2)		(808	)		(1,096	)		(0.3	%)		(2,800	)		(0.9	%)
Acquisition-related professional fees (3)		952			1,291			0.4	%		—			—
Adjusted EBITDA and Adjusted EBITDA margin		62,032			84,095			25.0	%		95,139			30.3	%

⁽¹⁾ Refer to equity-settled share-based payment expense (or net reversal) arising from TDCX Performance Share Plan.

⁽²⁾ Refer to realized and unrealized losses or gains resulting from changes in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated.

⁽³⁾ Refer to fees incurred on third-party service providers in connection with a discontinued acquisition.

⁽⁴⁾ The reported amounts for Adjusted EBITDA for the three months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted EBITDA for the three months ended June 30, 2022.

⁽⁵⁾ The reported amounts for Adjusted EBITDA for the six months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted EBITDA for the six months ended June 30, 2022.

Adjusted Net Income and Adjusted Net Income margin

“Adjusted Net Income” represents profit for the period before equity-settled share-based payment expense (or net reversal) incurred in connection with our Performance Share Plan, net foreign exchange gain or loss and acquisition-related professional fees, net of any tax impact of such adjustments. “Adjusted Net Income margin” represents Adjusted Net Income as a percentage of revenue.

	For the Three Months ended June 30,
	2023									2022 (4)
	US$’000			S$’000			Margin			S$’000			Margin
Profit for the period and net profit margin		21,634			29,328			17.1	%		26,800			16.5	%
Adjustment for:
Equity-settled share-based payment expense (1)		644			873			0.5	%		3,582			2.2	%
Net foreign exchange gain (2)		(1,495	)		(2,027	)		(1.2	%)		(1,891	)		(1.2	%)
Acquisition-related professional fees (3)		227			308			0.2	%		—			—
Adjusted Net Income and Adjusted Net Income margin		21,010			28,482			16.6	%		28,491			17.5	%

	For the Six Months ended June 30,
	2023									2022 (5)
	US$’000			S$’000			Margin			S$’000			Margin
Profit for the period and net profit margin		41,703			56,535			16.8	%		49,005			15.6	%
Adjustment for:
Equity-settled share-based payment (net reversal) / expense (1)		(3,143	)		(4,261	)		(1.3	%)		11,515			3.7	%
Net foreign exchange gain (2)		(654	)		(887	)		(0.3	%)		(2,039	)		(0.6	%)
Acquisition-related professional fees (3)		952			1,291			0.4	%		—			—
Adjusted Net Income and Adjusted Net Income margin		38,858			52,678			15.6	%		58,481			18.7	%

⁽¹⁾ Refer to equity-settled share-based payment expense (or net reversal) arising from TDCX Performance Share Plan.

⁽²⁾ Refer to realized and unrealized losses or gains resulting from changes in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated, net of tax effects.

⁽³⁾ Refer to fees incurred on third-party service providers in connection with a discontinued acquisition.

⁽⁴⁾ The reported amounts for Adjusted Net Income for the three months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted Net Income for the three months ended June 30, 2022.

⁽⁵⁾ The reported amounts for Adjusted Net Income for the six months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted Net Income for the six months ended June 30, 2022.

Adjusted EPS

“Adjusted EPS” represents earnings available to shareholders excluding the impact of equity-settled share-based payment expense (or net reversal), net foreign exchange gain or loss and acquisition-related professional fees.

Adjusted EPS is calculated as earnings available to shareholders excluding the impact of equity-settled share-based payment expense (or net reversal), net foreign exchange gain or loss and acquisition-related professional fees, divided by the diluted weighted-average number of shares outstanding.

	For the Three Months ended June 30,
	2023												2022 (4)
	Amount			Per Share			Amount			Per Share			Amount			Per Share
	US$’000			US$			S$’000			S$			S$’000			S$
Reported earnings available to shareholders and EPS		21,592			0.15			29,271			0.20			26,799			0.19
Adjustments for:
Equity-settled share-based payment expense (1)		644			—			873			0.01			3,582			0.02
Net foreign exchange gain (2)		(1,495	)		(0.01	)		(2,027	)		(0.01	)		(1,891	)		(0.01	)
Acquisition-related professional fees (3)		227			—			308			—			—			—
Adjusted earnings available to shareholders and Adjusted EPS		20,968			0.14			28,425			0.20			28,490			0.20

	For the Six Months ended June 30,
	2023												2022 (5)
	Amount			Per Share			Amount			Per Share			Amount			Per Share
	US$’000			US$			S$’000			S$			S$’000			S$
Reported earnings available to shareholders and EPS		41,661			0.29			56,478			0.39			49,004			0.34
Adjustments for:
Equity-settled share-based payment (net reversal) / expense (1)		(3,143	)		(0.03	)		(4,261	)		(0.03	)		11,515			0.08
Net foreign exchange gain (2)		(654	)		—			(887	)		—			(2,039	)		(0.01	)
Acquisition-related professional fees (3)		952			0.01			1,291			0.01			—			—
Adjusted earnings available to shareholders and Adjusted EPS		38,816			0.27			52,621			0.37			58,480			0.41

⁽¹⁾ Refer to equity-settled share-based payment expense arising from TDCX Performance Share Plan.

⁽²⁾ Refer to realized and unrealized losses or gains resulting from changes in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated, net of tax effects.

⁽³⁾ Refer to fees incurred on third-party service providers in connection with a discontinued acquisition.

⁽⁴⁾ The reported amounts for Adjusted EPS for the three months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted EPS for the three months ended June 30, 2022.

⁽⁵⁾ The reported amounts for Adjusted EPS for the six months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted EPS for the six months ended June 30, 2022.

Revenue at Constant Currency and Revenue Growth at Constant Currency

Revenue at constant currency, which is revenue adjusted for the translation effect of foreign currencies so that certain financial results can be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Revenue at constant currency is calculated by translating the revenue of our local subsidiaries in each period in the respective local functional currencies to TDCX Inc.’s and its consolidated subsidiaries’ (together, the “Group”) presentation currency, using the average currency conversion rates in effect during the comparable prior period (rather than at the actual currency conversion rates in effect during the current reporting period). Revenue growth at constant currency means the period-over-period change in revenue at constant currency compared against revenue in the prior period.

	For the Three Months Ended June 30,				Revenue growth as reported			Foreign exchange impact			Revenue growth at constant currency
	2023		2022
	S$’000		S$’000
Revenue		180,534		162,256		5.5	%		5.8	%		11.3	%

	For the Six Months Ended June 30,				Revenue growth as reported			Foreign exchange impact			Revenue growth at constant currency
	2023		2022
	S$’000		S$’000
Revenue		351,839		314,679		6.8	%		5.0	%		11.8	%

The Company has not reconciled non-IFRS forward-looking revenue growth at constant currency to its most directly comparable IFRS measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. The revenue growth outlook indicated for 2023 is calculated and presented at constant currency, as it would require unreasonable efforts to predict factors that are out of the Company’s control or are not readily predictable, such as currency exchange movements over the course of an entire year.

The Company uses revenue at constant currency and revenue growth at constant currency, which are supplemental non-IFRS financial measures, to provide better comparability of revenue trends period-over-period (without the impact of fluctuations in foreign currency exchange rates) because it is a global company that transacts business in multiple currencies and reports financial information in the Group’s functional reporting currency. Foreign currency exchange rate fluctuations affect the amounts reported by the Company in the Group’s functional reporting currency with respect to its foreign revenues. Generally, when the Group’s functional reporting currency dollar either strengthens or weakens against other currencies, revenue at constant currency rates and revenue growth at constant currency rates will be higher or lower than revenue and revenue growth reported at actual exchange rates.

The Company believes that non-IFRS financial measures such as EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, Adjusted Net Income margin, Adjusted EPS, revenue at constant currency and revenue growth at constant currency help us to identify underlying trends in our operating results, enhancing our understanding of past performance and future prospects.

While the Company believes that such non-IFRS financial measures provide useful information to investors in understanding and evaluating the Company’s results of operations in the same manner as its management, the Company’s use of such non-IFRS financial measures have limitations as analytical tools and you should not consider these in isolation or as a substitute for analysis of the Company’s results of operations or financial condition as reported under IFRS.

TDCX’s non-IFRS financial measures do not reflect all items of income and expense that affect the Company’s operations and do not represent the residual cash flow available for discretionary expenditures. Further, these non-IFRS measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-IFRS financial measures to the nearest IFRS performance measure, all of which should be considered when evaluating performance. The Company encourages you to review the company’s financial information in its entirety and not rely on any single financial measure.

The translation of Singapore Dollar amounts into United States Dollar amounts for the unaudited condensed interim consolidated statement of profit or loss and other comprehensive income above are included solely for the convenience of readers outside of Singapore and have been made at the rate of S$1.3557 to US$1.00, the approximate rate of exchange at June 30, 2023. Such translations should not be construed as representations that the Singapore Dollar amounts could be converted into USD at that or any other rate.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	For the six months ended June 30,
	2023						2022
	US$’000			S$’000			S$’000
Revenue		247,884			336,056			314,679
Employee benefits expense		(161,495	)		(218,939	)		(209,215	)
Depreciation and amortization expense		(16,369	)		(22,191	)		(18,852	)
Rental and maintenance expense		(4,834	)		(6,554	)		(4,642	)
Recruitment expense		(4,006	)		(5,431	)		(6,345	)
Transport and travelling expense		(622	)		(843	)		(585	)
Telecommunication and technology expense		(5,144	)		(6,974	)		(5,471	)
Interest expense		(724	)		(982	)		(958	)
Other operating expense (1)		(7,570	)		(10,263	)		(4,572	)
Share of profit from an associate		—			—			74
Interest income		3,605			4,887			689
Other operating income		818			1,109			2,501
Profit before income tax		51,543			69,875			67,303
Income tax expenses		(9,840	)		(13,340	)		(18,298	)
Profit for the period		41,703			56,535			49,005
Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations		(2,173	)		(2,944	)		8,627
Total comprehensive income for the period		39,350			53,591			57,632
Profit attributable to:
- Owners of the Group		41,661			56,478			49,004
- Non-controlling interests		42			57			1
		41,703			56,535			49,005
Total comprehensive income attributable to:
- Owners of the Group		39,488			53,534			57,631
- Non-controlling interests		42			57			1
		39,530			53,591			57,632
Basic earnings per share (in S$) (2)		0.29			0.39			0.34
Diluted earnings per share (in S$) (2)		0.29			0.39			0.34

(1) We reported foreign exchange gains or losses, as applicable, on a net basis for the relevant period under the “other operating expense” line item.

(2) Basic and diluted earnings per share

	For the six months ended June 30,
	2023		2022
Weighted average number of ordinary shares for the purposes of basic earnings per share		145,001,045		145,670,692
Effect of contingently issuable shares under warrant agreement		11,989		—
Weighted average number of ordinary shares for the purposes of diluted earnings per share		145,013,034		145,670,692

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	As of June 30, 2023				As of December 31, 2022
	US$’000		S$’000		S$’000
ASSETS
Current assets
Cash and cash equivalents		300,613		407,541		389,100
Fixed and pledged deposits		—		—		6,551
Trade receivables		78,948		107,030		88,808
Contract assets		41,770		56,627		58,808
Other receivables		13,451		18,236		15,885
Financial assets measured at fair value through profit or loss		40,000		54,228		29,776
Income tax receivable		193		261		354
Total current assets		474,975		643,923		589,282
Non-current assets
Pledged deposits		438		594		584
Goodwill and intangible assets		2,054		2,784		2,924
Other receivables		2,800		3,796		5,019
Plant and equipment		28,054		38,033		41,292
Right-of-use assets		23,724		32,163		35,236
Deferred tax assets		2,997		4,063		3,463
Total non-current assets		60,067		81,433		88,518
Total assets		535,042		725,356		677,800
LIABILITIES AND EQUITY
Current liabilities
Other payables		38,441		52,114		49,723
Lease liabilities		12,512		16,963		17,818
Provision for reinstatement cost		3,303		4,478		5,282
Income tax payable		10,328		14,002		16,560
Total current liabilities		64,584		87,557		89,383
Non-current liabilities
Lease liabilities		13,543		18,360		20,644
Provision for reinstatement cost		3,664		4,967		3,572
Defined benefit obligation		1,466		1,987		1,497
Deferred tax liabilities		1,182		1,602		852
Total non-current liabilities		19,855		26,916		26,565
Capital, reserves and non-controlling interests
Share capital		15		20		19
Reserves		156,438		212,084		219,590
Retained earnings		294,121		398,740		342,260
Equity attributable to owners of the Group		450,574		610,844		561,869
Non-controlling interests		29		39		(17	)
Total equity		450,603		610,883		561,852
Total liabilities and equity		535,042		725,356		677,800

The translation of Singapore Dollar amounts into United States Dollar amounts for the unaudited condensed interim consolidated statement of financial position above are included solely for the convenience of readers outside of Singapore and have been made at the rate of S$1.3557 to US$1.00, the approximate rate of exchange at June 30, 2023. Such translations should not be construed as representations that the Singapore Dollar amounts could be converted into USD at that or any other rate.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

	For the six months ended June 30,
	2023						2022
	US$’000			S$’000			S$’000
Operating activities
Profit before income tax		51,543			69,875			67,303
Adjustments for:
Depreciation and amortization expense		16,369			22,191			18,852
Gain on early termination of right-of-use assets		—			—			(1	)
Equity-settled share-based payment expense / (net reversal)		(3,143	)		(4,261	)		11,515
Provision for office reinstatement cost		3			4			(43	)
Bank loan transaction cost		16			22			28
Interest income		(3,605	)		(4,887	)		(689	)
Interest expense		724			982			958
Retirement benefit service cost		328			444			382
Loss / (Gain) on disposal and write-off of plant and equipment		7			9			(1	)
Share of profit from an associate		—			—			(74	)
Operating cash flows before movements in working capital		62,242			84,379			98,230
Trade receivables		(14,618	)		(19,818	)		22,568
Contract assets		601			815			(8,091	)
Other receivables		(1,073	)		(1,455	)		(4,072	)
Other payables		2,285			3,098			9,391
Cash generated from operations		49,437			67,019			118,026
Interest received		3,605			4,887			689
Income tax paid		(11,597	)		(15,722	)		(12,778	)
Income tax refunded		165			224			—
Net cash from operating activities		41,610			56,408			105,937
Investing activities
Purchase of plant and equipment		(5,669	)		(7,685	)		(6,965	)
Proceeds from sales of plant and equipment		24			33			2
Decrease in fixed deposits		4,753			6,443			1,732
Investment in financial assets measured at fair value through profit or loss		(17,593	)		(23,851	)		—
Net cash used in investing activities		(18,485	)		(25,060	)		(5,231	)
Financing activities
Repayment of lease liabilities		(8,737	)		(11,845	)		(9,373	)
Interest paid		—			—			(188	)
Repayment of bank loan		—			—			(12,716	)
Repurchase of American Depositary Shares		(222	)		(301	)		(9,366	)
Net cash used in financing activities		(8,959	)		(12,146	)		(31,643	)
Net increase in cash and cash equivalents		14,166			19,202			69,063
Effect of foreign exchange rate changes on cash held in foreign currencies		(563	)		(761	)		2,385
Cash and cash equivalents at beginning of period		287,010			389,100			313,147
Cash and cash equivalents at end of period		300,613			407,541			384,595

The translation of Singapore Dollar amounts into United States Dollar amounts for the unaudited condensed interim consolidated statement of cash flows above are included solely for the convenience of readers outside of Singapore and have been made at the rate of S$1.3557 to US$1.00, the approximate rate of exchange at June 30, 2023. Such translations should not be construed as representations that the Singapore Dollar amounts could be converted into USD at that or any other rate.

EX-99.2

Exhibit 99.2

Second Quarter 2023 Results August 2023

Disclaimer This presentation is provided solely by TDCX Inc. (the “Company”) acting in its own capacity and on behalf of its subsidiaries. Forward-looking statements. This presentation may contain forward-looking statements, outcomes, forecasts, estimates, projections and opinions (“forward-looking statements”). No representation or promise is made or will be made that any forward-looking statement will be achieved or will eventuate in the future. Actual events, results, returns and operations could vary materially from those reflected or contemplated in such forward-looking statements. Similarly, no representation or promise is given by the Company that the assumptions, variables and other inputs used in or underlying this presentation are reasonable, reliable or accurate. Circumstances may change and the contents of this presentation may become outdated as a result. Forward-looking statements are by their nature subject to significant uncertainties and contingencies and reliance should not be placed upon them. Past performance of the Company and any of its subsidiaries cannot be relied upon as a guide to future performance. Non-IFRS financial measures. This presentation includes certain financial measures not presented in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) including EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Margin, Adjusted EPS, Revenue at Constant Currency and Revenue Growth at Constant Currency. These non-IFRS financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing the Company’s financial results or position. Therefore, these measures should not be considered in isolation or as an alternative to gross profit, profit for the period, cash flow or other measures of profitability, liquidity or performance under IFRS. You should be aware that the Company’s presentation of these measures may not be comparable to similarly-titled measures used by other companies which may be defined and calculated differently. See the Reconciliation section in the Appendix for a reconciliation of these non-IFRS measures to the most directly comparable IFRS measure. We have not reconciled non-IFRS forward-looking revenue growth at constant currency to its most directly comparable IFRS measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. The revenue growth outlook indicated for 2023 is calculated and presented at constant currency, as it would require unreasonable efforts to predict factors out of our control or not readily predictable, such as currency exchange movements over the course of an entire year. No representation. In preparing this presentation, the Company has relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which has otherwise been reviewed. Any information regarding price or value in this presentation should not be interpreted as an actual or guaranteed realizable price or value. The Company does not warrant or guarantee the performance of the Company, its assets, business, any financial product or any return associated with any investment. The Company does not make any representation or warranty, express or implied, with respect to the accuracy or completeness of this presentation, or the reasonableness of any assumption contained in this presentation and is not under any obligation to provide you with access to any additional material and reserves the right to amend or replace the same at any time upon its sole discretion. The materials in this presentation is not complete, and not intended to be relied upon, or provide the sole or principal basis of any decision or other action in relation to any transaction. No advice and not an offer. Nothing in this presentation should be construed as or constitutes legal, tax, regulatory, accounting, investment or other (including financial product) advice or as a securities or other recommendation. Furthermore, this presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities of TDCX Inc. and any of its subsidiaries or undertakings or any other invitation or inducement to engage in investment activities, nor shall this presentation (or any part of it) nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Industry information. Certain industry, market and competitive position data in this presentation is based on third-party data provided by Frost & Sullivan. Such data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to these estimates, as there is no assurance that any of them will be reached. Industry publications, reports, research, surveys and studies generally state that the information they contain has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. Forecasts and other forward-looking information obtained from these sources and estimates are subject to the same qualifications and uncertainties. Convenience translation. The Company’s financial information is stated in Singapore dollars, the legal currency of Singapore. Unless otherwise noted, all translations from Singapore dollars to U.S. dollars and from U.S. dollars to Singapore dollars in this presentation were made at a rate of S$1.35570 to US$1.00, being the approximate rate in effect as of June 30, 2023. We make no representation that any Singapore dollar or U.S. dollar amount could have been, or could be, converted into U.S. dollars or Singapore dollar, as the case may be, at any particular rate, the rate stated herein, or at all. 2

01. HIGHLIGHTS & OVERVIEW

All amounts in USD Highlights – Q2 2023 unless stated otherwise Revenue $126m +5.5% YoY (+11.3% YoY in constant currency1,2) Profit for the period $22m +9.4% YoY Adjusted EBITDA margin2 25.9% Resilient revenue growth despite challenging markets, demonstrating strong execution Continued strong client growth3 Improved client diversification New geographies contributing 60 +52% 91 Jun 30, Jun 30, 2022 2023 Clients Revenue outside +67% Top 5 YoY4 Revenue Revenue from 9x New Geos5 Q2 234 vs Q2 22 Note – Financial figures are unaudited. 1. Revenue at Constant Currency is calculated by translating the revenue of our local subsidiaries in each period in the respective local functional currencies to the Group’s presentation currency, using the average currency conversion rates in effect during the comparable prior period, rather than at the actual currency conversion rates in effect during the current reporting period. 2. EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Revenue Growth at Constant Currency are supplemental, non-IFRS financial measures and should not be considered in isolation or as a substitute for financial results reported under IFRS. For a reconciliation of non-IFRS financial measures to the most directly comparable IFRS measures, see the Appendix. 3. Refers to launched campaigns that are revenue generating 4. Includes additional clients attributable to our Hong Kong subsidiary. 5. Refers to sites in Colombia, India, Romania, South Korea, Hong Kong, Türkiye, Vietnam, Brazil and Indonesia. 4

All amounts in USD Cash flow and balance sheet overview unless stated otherwise Cash generated from operations $49 million Strong cash flow generation and low leverage provides flexibility for strategic growth options and to enhance H1 2023 shareholder returns Cash and cash equivalents Strategic M&A $301 million Investing in new organic initiatives for growth As at Jun 30, 2023 Bank loans Share buyback program Nil 5

Rising client count, improving diversification “Client count” refers to launched campaigns that are revenue generating. Includes additional clients attributable to our Hong Kong subsidiary.    3. There are 7 clients which have been signed, but not yet revenue generating as of 30 June 2023. Growing client count1,2 +52% Improved revenue diversification Top 2 Client revenue mix As of Jun 30 50% Q2 23 57% Q2 22 50% 57% Top 5 Client revenue mix 73% Q2 23 83% Q2 22 Established global e-commerce platform Rapidly growing fast-fashion e-commerce platform Leading global travel platform based out of Asia New launched clients in Q2 include: Another 7 clients signed but not yet launched3 Yet to launch:60 91 2022 2023 6

Strong Asian foothold, expanding our global presence 18,700+ Employees globally as at Jun 30, 2023 2 New Geographies in YTD 2023 Global English4 25% Southeast Asia2 61% North Asia3 10% Others 4% H1 2023 Revenue Mix CHINA PHILIPPINES JAPAN THAILAND SPAIN COLOMBIA INDIA MALAYSIA SINGAPORE ROMANIA S. KOREA VIETNAM HONG KONG TÜRKIYE INDONESIA BRAZIL 3 New Geographies in 2022 Note –Financial figures are unaudited. Total might not add up due to rounding. In addition to the above geographies, companies were set up in Australia and Taiwan in 2022 to deliver business services for a client. Refers to sites in Singapore, Malaysia, Thailand, Vietnam and Indonesia, which mainly serve Southeast Asian languages. Refers to sites in Japan, China, Korea, Hong Kong and Taiwan, which mainly serve North Asian languages. Refers to sites in Philippines, which mainly serve the Global English market. 4

8 Q2 2023 PERFORMANCE 02. eographies in 2021

Q2 financial performance Note –Financial figures are unaudited. 1. FX rate of US$1 = S$1.3557 assumed in converting Q2 22 and Q2 23 financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. 2. EBITDA, EBITDA Margins, Adjusted EBITDA, Adjusted EBITDA Margins, Adjusted Net Income, Adjusted Net Income Margins, Adjusted EPS, Revenue and Revenue Growth at Constant Currency are supplemental, non IFRS financial measures and should not be considered in isolation or as a substitute for financial resultsreported under IFRS. For a reconciliation of these non IFRS financial measures to the most directly comparable IFRS measures, see the Appendix. +9.4% Profit for the Period (US$m1) Revenue (US$m1) EPS: 15¢ +5.5% Adjusted EBITDA2(US$m1) Adj EBITDA Margin2 29.4% 25.9% -7.1% EBITDA2(US$m1) -2.2% 28.8% 26.7% EBITDA Margin2 0.0% Adjusted Net Income2(US$m1) Adj EPS2: 14¢ +11.3% in constant currency2terms119.7 126.2 Q2 22 Q2 23 19.8 21.6 Q2 22 Q2 23 35.1 32.7 Q2 22 Q2 23 34.4 33.7 Q2 22 Q2 23 21.0 21.0 Q2 22 Q2 23 9

Q2 revenue by service offering Revenue Change by Service (US$m1) Revenue Mix by Service 120 Content, Trust & Safety2 20 29 Sales & Digital Marketing Omnichannel CX 70 +5.5% 126 16 -19% 33 +15% 76 +8% Q2 22 Q2 23 Omnichannel CX Sales & Digital 60% Marketing 26% Content, Trust & 3 Safety2 Others 13% 1% Q2 23 Note – Financial figures are unaudited. Total might not add up due to rounding. 1. FX rate of US$1 = S$1.3557 assumed in converting Q2 22 and Q2 23 financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. 2. From Q2 2022, Content Monitoring and Moderation service has been renamed as Content, Trust and Safety. Revenue for trust and safety related services that were previously classified under Omnichannel CX solutions and Other service fees respectively, which can currently be reasonably identified and quantified, will now be reported as Content, Trust and Safety services. Accordingly, we reclassified our segment revenues for all periods presented herein on a comparable basis. 3. Others include revenues classified in the Consolidated Financial Statements as other business process services and other services. 10

Q2 23 Adjusted EBITDA Margin1movement Note –Financial figures are unaudited. Totals might not add up due to rounding. 1. Adjusted EBITDA, Adjusted EBITDA Margins, Adjusted Net Income, Adjusted Net Income Margins and Adjusted EPS are supplemental,non IFRS financial measures and should not be considered in isolation or as a substitute for financial results reported under IFRS. For a reconciliation of these non IFRS financial measures to the most directly comparable IFRS measures, see the Appendix. Q2 22 Q2 23 Agents, local support and shared service costs Group corporate costs General overheads29.4% 25.9% 0.0% 0.8% 2.7% Q1 22 Rental & maintenance, Telecoms & tech, Travelling & transport, Recruitment Other operating expense and income Employee benefits expense (ex Share-based payment expense) Q1 23 11

12 H1 2023 PERFORMANCE 03.

H1 financial performance Note –Financial figures are unaudited. 1. FX rate of US$1 = S$1.3557 assumed in converting H1 22 and H1 23 financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. 2. EBITDA, EBITDA Margins, Adjusted EBITDA, Adjusted EBITDA Margins, Adjusted Net Income, Adjusted Net Income Margins, Adjusted EPS, Revenue and Revenue Growth at Constant Currency are supplemental, non IFRS financial measures and should not be considered in isolation or as a substitute for financial resultsreported under IFRS. For a reconciliation of these non IFRS financial measures to the most directly comparable IFRS measures, see the Appendix. +15.4% Profit for the Period (US$m1) Revenue (US$m1) EPS: 29¢ +6.8% Adjusted EBITDA2(US$m1) Adj EBITDA Margin2 25.0% -11.6% EBITDA2(US$m1) +2.0% 27.5% 26.2% EBITDA Margin2 -9.9% Adjusted Net Income2(US$m1) Adj EPS2: 27¢ +11.8% in constant currency2terms70.2 62.0 H1 22 H1 23 232.1 247.9 H1 22 H1 23 36.1 41.7 H1 22 H1 23 63.8 65.0 H1 22 H1 23 43.1 38.9 H1 22 H1 23 13

H1 revenue by service offering Revenue Change by Service (US$m1) +6.8% 248 232 32 -18% 39 Content, Trust & Safety2 66 +19% 55 Sales & Digital Marketing 148 +8% Omnichannel CX 136 H1 22 H1 23 Revenue Mix by Service Sales & Digital Marketing Omnichannel CX 27% 60% Content, Trust & Others3 Safety2 1% 13% H1 23 Note – Financial figures are unaudited. Total might not add up due to rounding. 1. FX rate of US$1 = S$1.3557 assumed in converting H1 22 and H1 23 financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. 2. From Q2 2022, Content Monitoring and Moderation service has been renamed as Content, Trust and Safety. Revenue for trust and safety related services that were previously classified under Omnichannel CX solutions and Other service fees respectively, which can currently be reasonably identified and quantified, will now be reported as Content, Trust and Safety services. Accordingly, we reclassified our segment revenues for all periods presented herein on a comparable basis. 3. Others include revenues classified in the Consolidated Financial Statements as other business process services and other services. 14

15 OUTLOOK 04.

FY2023 Outlook Previous Revised Range: 3% – 8%1,2 Range: 2% – 4%1,2 Adjusted EBITDA Margin3 Approximately 25% – 29% Approximately 25% – 27% 1. On a constant currency basis. Revenue at constant currency is calculated by translating the revenue of our local subsidiaries in each period in the respective local functional currencies to the Group’s presentation currency, using the average currency conversion rates in effect during the comparable prior period, rather than at the actual currency conversion rates in effect during that period. 2. Revenue at constant currency and revenue growth at constant currency are supplemental, non-IFRS financial measures and should not be considered in isolation or as a substitute for financial results reported under IFRS. We have not reconciled non-IFRS forward-looking revenue growth at constant currency to its most directly comparable IFRS measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. The revenue growth outlook indicated for 2023 is calculated and presented at constant currency, as it would require unreasonable efforts to predict factors out of our control or not readily predictable, such as currency exchange movements over the course of an entire year. 3. “Adjusted EBITDA” represents profit for the year/period before interest expense, interest income, income tax expense, depreciation and amortization expense, acquisition-related professional fees, net foreign exchange gains or losses and equity-settled share-based payment expense (or net reversal) incurred in connection with our Performance Share Plan. “Adjusted EBITDA margin” represents Adjusted EBITDA as a percentage of revenue. Adjusted EBITD margin is a supplemental, non-IFRS financial measure and should not be considered in isolation or as a substitute for financial results reported under IFRS. For a reconciliation of this non-IFRS financial measure to the most directly comparable IFRS measure, see the Appendix.

7 APPENDIX

Reconciliation of non-IFRS financial measures to the nearest comparable IFRS measuresReconciliation of Adjusted EBITDA (Unaudited)    For the three months ended June 30 For the six months ended June 30 20232022202320224 US$’000S$’000 S$’000 US$’000S$’000 S$’000 Profit for the Period21,634 29,328 26,80041,703 56,535 49,005 Adjustments: Depreciation and Amortization Expense8,067 10,937 9,29616,369 22,191 18,852 Income Tax Expense5,882 7,974 10,5449,840 13,340 18,298 Interest Expense372 504 471724 982 958 Interest Income(2,273)(3,081)(422)(3,605)(4,887)(689) EBITDA33,682 45,662 46,68965,031 88,161 86,424 Equity-settled share-based payment (net reversal) / expense16448733,582(3,143)(4,261)11,515 Net foreign exchange loss / (gain)2(1,902)(2,578)(2,635)(808)(1,096)(2,800) Acquisition-related professional fees3227308-9521,291- Adjusted EBITDA32,651 44,265 47,63662,03284,09595,139 To the extent so indicated, financial figures are unaudited. FX rate of US$1 = S$1.3557 assumed in converting financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. Totals might not add up due to rounding. 1. Refer to equity-settled share-based payment expense (or net reversal) arising from TDCX Performance Share Plan. 2. Refer to realized and unrealized losses or gains resulting from changes in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated. 3. Refer to fees incurred on third-party service providers in connection with a discontinued acquisition. 4. The reported amounts for Adjusted EBITDA for the three and six months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and 18 enhance its comparability, similar adjustments have been made for Adjusted EBITDA for the three and six months ended June 30, 2022. 18

Reconciliation of non-IFRS financial measures to the nearest comparable IFRS measures For the three months ended June 30 For the six months ended June 30 Reconciliation of Adjusted Net Income 4 4 2023 2022 2023 2022 (Unaudited) US$’000 S$’000 S$’000 US$’000 S$’000 S$’000 Profit for the period 21,634 29,328 26,800 41,703 56,535 49,005 Adjustments: Equity-settled share-based payment (net 1 644 873 3,582 (3,143) (4,261) 11,515 reversal) / expense Net foreign exchange loss / (gain)2 (1,495) (2,027) (1,891) (654) (887) (2,039) Acquisition-related professional fees3 227 308—952 1,291—Adjusted Net Income 21,010 28,482 28,491 38,858 52,678 58,481 To the extent so indicated, financial figures are unaudited. FX rate of US$1 = S$1.3557 assumed in converting financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. Totals might not add up due to rounding. 1. Refer to equity-settled share-based payment expense (or net reversal) arising from TDCX Performance Share Plan. 2. Refer to realized and unrealized losses or gains resulting from changes in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated, net of tax effects. 3. Refer to fees incurred on third-party service providers in connection with a discontinued acquisition. 4. The reported amounts for Adjusted Net Income for the three and six months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted Net Income for the three and six months ended June 30, 2022. 19    

Reconciliation of non-IFRS financial measures to the nearest comparable IFRS measures For the three months ended June 30 For the six months ended June 30 Reconciliation of Adjusted EPS 2023 20224 2023 20224 (Unaudited) Per Share Per Share Per Share Per Share Per Share Per Share US$ S$ S$ US$ S$ S$ EPS 0.15 0.20 0.19 0.29 0.39 0.34 Adjustments: Equity-settled share-based payment 1—0.01 0.02 (0.03) (0.03) 0.08 (net reversal) / expense Net foreign exchange loss / (gain)2 (0.01) (0.01) (0.01) — (0.01) Acquisition-related professional 3 ——0.01 0.01 -fees Adjusted EPS 0.14 0.20 0.20 0.27 0.37 0.41 To the extent so indicated, financial figures are unaudited. FX rate of US$1 = S$1.3557 assumed in converting financials from Singapore dollar to U.S. dollar, being the approximate rate in effect as of June 30, 2023. Totals might not add up due to rounding. 1. Refer to equity-settled share-based payment expense (or net reversal) arising from TDCX Performance Share Plan. 2. Refer to realized and unrealized losses or gains resulting from changes in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated, net of tax effects. 3. Refer to fees incurred on third-party service providers in connection with a discontinued acquisition. 4. The reported amounts for Adjusted EPS for the three and six months ended June 30, 2023 include adjustments for certain items (i.e., acquisition-related professional fees and net foreign exchange gains or losses) which were not included in similar non-IFRS financial measures previously reported in prior periods. In order to place the current disclosure in the appropriate context and enhance its comparability, similar adjustments have been made for Adjusted EPS for the three and six months ended June 30, 2022. 20    

Reconciliation of non-IFRS financial measures to the nearest comparable IFRS measures For the three months ended June 30 Reconciliation of Revenue Revenue growth Revenue growth Foreign Growth at Constant S$’000 at constant as reported exchange impact Currency (Unaudited) currency 2023 2022 Revenue 180,534 162,256 5.5% 5.8% 11.3% For the six months ended June 30 Reconciliation of Revenue Revenue growth Revenue growth Foreign Growth at Constant S$’000 at constant as reported exchange impact Currency (Unaudited) currency 2023 2022 Revenue 351,839 314,679 6.8% 5.0% 11.8% 1. The exchange rates used for the translation of the local functional currencies of MYR, PHP, THB, JPY and RMB depreciated between 3% to 9% against the Group’s presentation currency of SGD, for the three months ended June 30, 2023, compared to the three months ended June 30, 2022. To the extent so indicated, financial figures are unaudited. Total might not add up due to rounding. Revenue at constant currency is calculated by translating the revenue of our local subsidiaries in each period in the respective local functional currencies to the Group’s presentation currency, using the average currency conversion rates in effect during the comparable prior period, rather than at the actual currency conversion rates in effect during the current reporting period. Revenue at constant currency and revenue growth at constant currency are supplemental, non-IFRS financial measures and should not be considered in isolation or as a substitute for financial results reported under IFRS. We have not reconciled non-IFRS forward-looking revenue growth at constant currency to its most directly comparable IFRS measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. The revenue growth outlook indicated for 2023 is calculated and presented at constant currency, as it would require unreasonable efforts to predict factors out of our control or not readily predictable, such as currency exchange movements over the course of an entire year. 21

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