Board of Infosys approves change in CFO

At meeting held on 12 October 2015

Infosys announced that the Board of Directors of the Company at its meeting held on 12 October 2015, inter alia, has transacted the following;

Management Changes;

1. Rajiv Bansal stepped down as Chief Financial Officer and Key Managerial Personnel effective 12 October 2015 (end of business hours) and resigned from the services of the Company effective 31 December 2015.

2. Ranganath M. D. has been appointed as Chief Financial Officer and Key Managerial Personnel effective 12 October 2015 (end of business hours).

Other Matters;

1. The Board approved the 2015 Incentive Compensation Plan, amending the existing 2011 RSU Plan. The 2011 RSU plan has been amended in accordance with the SEBI (share based employee benefits) regulations, 2014 and will be issued as the 2015 Incentive Compensation Plan. The grants made under the 2011 RSU plan will continue to be administered and implemented by the 2015 Incentive Compensation Plan. The 2015 Incentive Compensation Plan will be subject to the approval of shareholders.

2. The Board further approved the issuance of new shares, so as not to cumulatively exceed 2% of the shares outstanding, in order to support grants made over time under the 2015 Incentive Compensation Plan. Approval to issue such shares under the 2015 Incentive Compensation plan will be subject to the approval of shareholders.

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