Revenues for first quarter 2013 increased by 4% to $274.9 million from $263.3 million in the first quarter 2012.

Net Income attributable to iGATE Corporation for first quarter 2013 increased by 44% to $34.8 million from $24.1 million in the first quarter 2012.

Gross margin was 38.1 % for the first quarter 2013 compared to 40.2 % in the corresponding quarter in 2012.

Diluted earnings per share of $0.34 GAAP; $0.51 non-GAAP as compared to $0.22 and $0.38 for the same period in 2012.

Added ten new customers during the quarter; six of which are Fortune 1000 companies.

The company ended the first quarter 2013 with 28,204 employees.

iGATE launched its inaugural iGATE CEO Golf Cup on January 12-13, 2013 in association with Forbes and the NYSE.

Net revenue ($Millions)

Operating margin ($Millions)

GAAP net income ($Millions)

GAAP diluted EPS ($)

Adjusted EBITDA ($Millions)

Non-GAAP net income ($Millions)

Non-GAAP diluted EPS ($)

A leading Insurance carrier in the U.S listed in the Fortune 500 category chose iGATE as a third party administrator (TPA) of its claims operations. As part of this integrated technology and operations (iTOPS) deal, iGATE will be responsible for the customer’s entire claims operations, IT applications and infrastructure and provide TPA services on its platform, where the client will pay on a per-policy-per-month model.

iGATE has also been engaged by a global financial services provider in Europe to assist it in reducing its operating costs. As part of the engagement, iGATE will focus on simplifying this company’s IT environment by consolidating multiple platforms at a global level and implementing newer technologies designed to reduce IT investments by the client and increase operational efficiency.

A renowned luxury apparel and footwear company in North America that designs and sells upscale footwear and accessories internationally engaged iGATE to optimize the company’s worldwide IT landscape. As part of the engagement, iGATE will provide integrated IT and business aligned services using proprietary platforms and cloud based solutions designed to make the IT environment scalable and IT costs variable.

iGATE has also been selected by a leading food wholesaler in Europe to assist the company in achieving operational efficiency after a recent acquisition of a retailer. As part of this engagement, iGATE will focus on enterprise systems consolidation that includes separation and migration of several disparate systems into a unified system.

A Fortune 500 company in the U.S. providing engineering and construction services for commercial and government clients globally, engaged iGATE to improve the company’s operational efficiency and increase profitability by consolidation of IT applications. As part of the engagement, iGATE will integrate IT services and facilitate upgrading of IT platforms on a global delivery model.

Amortization of intangible assets: Intangible assets comprise value of customer relationships from the recent acquisition of iGATE Computer Systems Limited (formerly known as Patni Computer Systems Limited and referred to herein as “iGATE Computer”) and the previous delisting of iGATE Computer. iGATE incurs charges relating to the amortization of these intangibles. These charges are included in iGATE’s GAAP presentation of earnings from operations, operating margin, net income and diluted earnings per share. iGATE excludes these charges for purposes of calculating these non-GAAP measures.

Stock-based compensation: Although stock-based compensation is an important component of compensation of iGATE’s employees and executives, determining the fair value of the stock-based instruments involves a high degree of judgment and estimation and the expense recorded may not reflect the actual value realized upon the future exercise or termination of the related stock-based awards. Furthermore, unlike cash compensation, the value of stock-based compensation is determined using a complex formula that incorporates factors, such as market volatility, that are beyond the Company’s control. Management believes it is useful to exclude stock-based compensation in order to better understand the long-term performance of iGATE’s core business.

Foreign exchange (gain)/loss: In March 2012, the Company entered into a forward foreign exchange contract to mitigate the risk of changes in foreign exchange rates on payments related to the delisting of iGATE Computer. During the year 2012, the Company recognized foreign currency loss on re-measurement of escrow account balance and foreign exchange gain on re-measurement of redeemable non-controlling interest liability. iGATE believes that eliminating the non-capitalized items for purposes of calculating these non-GAAP measures facilitates a more meaningful evaluation of iGATE’s current performance and comparisons to its past performance.

Delisting expenses: iGATE voluntarily delisted the equity shares of its majority owned subsidiary, iGATE Computer, from the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited and the American Depository Shares from the New York Stock Exchange. Delisting is an infrequent activity and expenses incurred in connection with the delisting are inconsistent in amount and are significantly impacted by the timing and nature of the delisting. iGATE believes that eliminating these expenses for purposes of calculating these non-GAAP measures facilitates a more meaningful evaluation of iGATE’s current operating performance and comparisons to its past operating performance.

Merger and reorganization expenses: iGATE is merging and reorganizing its overseas subsidiaries and branches with a view to simplifying the corporate structure and has incurred legal and professional expenses in this connection. Merger and reorganization is an infrequent activity and expenses incurred in connection therein are inconsistent in amount and significantly impacted by the timing and nature of the reorganization. iGATE believes that eliminating these expenses for purposes of calculating these non-GAAP measures facilitates a more meaningful evaluation of iGATE’s current operating performance and comparisons to its past operating performance.

Preferred dividend and accretion to preferred stock: The Company has issued 8.00% Series B Preferred Stock. The Company also incurred issuance costs which have been netted against the proceeds received from the issuance of Series B Preferred Stock. The Series B Preferred Stock is being accreted over a period of six years. The Company believes that eliminating these expenses for purposes of calculating these non-GAAP measures facilitates a more meaningful evaluation of iGATE’s current operating performance and comparisons to its past operating performance.

Araceli Roiz

+1 510 896 3007

araceli.roiz@igate.com

ASSETS

Current assets:

Cash and cash equivalents

Restricted cash

Short-term investments

Accounts receivable, net

Unbilled revenues

Prepaid expenses and other current assets

Prepaid income taxes

Deferred tax assets

Foreign exchange derivative contracts

Total current assets

Deposits and other assets

Prepaid income taxes

Property and equipment, net

Leasehold land

Deferred tax assets

Goodwill

Intangible assets, net

Total assets

LIABILITIES, REDEEMABLE NON CONTROLLING INTEREST, PREFERRED STOCK AND EQUITY

Current liabilities:

Accounts payable

Line of credit

Term loans

Accrued payroll and related costs

Other accrued liabilities

Accrued income taxes

Foreign exchange derivative contracts

Deferred revenue

Total current liabilities

Other long-term liabilities

Senior notes

Term Loans

Accrued income taxes

Deferred tax liabilities

Total liabilities

Redeemable non controlling interest

Series B Preferred stock

Shareholders’ equity:

Common Stock, par value $0.01 per share

Common stock in treasury, at cost

Additional paid-in capital

Retained earnings

Accumulated other comprehensive loss

Total equity

Total liabilities, redeemable non controlling interest, preferred stock and equity

Revenues

Cost of revenues (exclusive of depreciation and amortization)

Gross margin

Selling, general and administrative expense

Depreciation and amortization

Income from operations

Other income (loss), net

Income before income taxes

Income tax expense

Net income

Noncontrolling interest

Net income attributable to iGATE Corporation

Accretion to Preferred Stock

Preferred dividend

Net income attributable to iGATE common shareholders

PARTICULARS

Net income attributable to iGATE common shareholders

Add: Dividends on Series B Preferred Stock

Less: Dividends paid on

Series B Preferred Stock

Undistributed Income

Allocation of Undistributed Income:

Common stock

Unvested restricted stock

Series B Preferred Stock

Shares outstanding for allocation of undistributed income:

Common stock

Unvested restricted stock

Series B Preferred Stock

Weighted average shares outstanding:

Common stock

Unvested restricted stock

Participating preferred stock

Weighted average common stock outstanding

Dilutive effect of stock options and restricted shares outstanding

Dilutive weighted average shares outstanding

Distributed earnings per share:

Participating preferred stock

Undistributed earnings per share:

Common stock

Unvested restricted stock

Participating preferred stock

Basic earnings per share from operations:

Common Stock

Unvested restricted stock

Participating preferred stock

Diluted earnings per share from operations

Net income

Adjustments

Depreciation and amortization

Interest expenses

Income tax expense

Other income, net

Foreign exchange loss/(gain)

Stock Based Compensation

Delisting expenses

Merger and reorganization expenses

Adjusted EBITDA (a non-GAAP measure)

GAAP Net income attributable to iGATE common shareholders

Adjustments

Preferred dividend and accretion to preferred stock

Amortization of Intangible assets

Stock Based Compensation

Delisting expenses

Merger and reorganization expenses

Forex (gain) / loss on acquisition hedging and remeasurement

Income tax adjustments

Non-GAAP Net income attributable to iGATE common shareholders

Weighted average shares outstanding, Basic

Add back: assumed preferred stock conversion

Non-GAAP shares outstanding , Basic

Weighted average dilutive common shares outstanding

Add back: assumed preferred stock conversion

Weighted average dilutive common equivalent shares outstanding

Basic EPS (GAAP) to Basic EPS (Non-GAAP):

Basic EPS (GAAP)

Preferred dividend and accretion to preferred stock

Amortization of Intangible assets

Stock Based Compensation

Delisting expenses

Merger and reorganization expenses

Forex (gain) / loss on acquisition hedging and remeasurement

Income tax adjustments

Basic EPS (Non-GAAP)

Diluted EPS (GAAP) to Diluted EPS (Non-GAAP):

Diluted EPS (GAAP)

Preferred dividend and accretion to preferred stock

Amortization of Intangible assets

Stock Based Compensation

Delisting expenses

Merger and reorganization expenses

Forex (gain) / loss on acquisition hedging and remeasurement

Income tax adjustments

Diluted EPS (Non-GAAP)

Adjusted EBITDA does not reflect iGATE’s cash expenditures or future requirements of cash for capital expenditures or contractual commitments;

Adjusted EBITDA does not reflect changes in, or cash requirements for, iGATE’s working capital needs;

Adjusted EBITDA does not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on iGATE’s debts; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; non-cash compensation is and will remain a key element of iGATE’s overall long-term incentive compensation package, although iGATE excludes it as an expense when evaluating its ongoing operating performance for a particular period; and

Adjusted EBITDA does not reflect the impact of certain cash charges resulting from matters iGATE considers not being indicative of its ongoing operations; and other companies in iGATE’s industry may calculate adjusted EBITDA differently than iGATE does, limiting its usefulness as a comparative measure.