TCS Extends Strategic Partnership with DNB Bank ASA by 5 Years to Accelerate Next-Gen Banking Solutions

Mumbai, February 28, 2025: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, announced today a five-year extension of its strategic partnership with DNB Bank ASA, Norway’s largest financial services group. The renewed agreement underscores a successful, long-term collaboration to drive digital innovation and operational efficiency.

Key Highlights of the Extended Partnership:

• TCS will remain the strategic partner in DNB's ongoing digital modernization and transformation initiatives.
• Deployment of advanced technologies such as Artificial Intelligence (AI) and Quantum Computing for next-gen banking solutions.
• Continued enhancement of security infrastructure and development of new banking applications.
• Expansion of TCS’ support from its Sahyadri Park campus in Pune, India, handling critical operations and innovative projects.

Executive Commentary: Elin Sandnes, Group EVP of Technology & Services, DNB, stated, "We are very pleased with the decision to continue our partnership with TCS for an additional five years. TCS has been instrumental in enabling some of our largest transformations and innovations over the past twelve years. We look forward to future achievements together."

Shankar Narayanan, President, Banking & Financial Services at TCS, commented, "We are excited to enter a new chapter in our collaboration with DNB. Our continued objective is to support DNB’s vision of becoming Norway’s most innovative bank, and we are honored by their continued trust in our capabilities."

Historical Collaboration and Achievements: Over the past 12 years, TCS has significantly contributed to DNB’s digital evolution, notably through:

• Development of a leading peer-to-peer mobile payment solution, enhancing DNB’s competitive position.
• Implementation of TCS' Machine First™ Delivery Model, automating operational processes, improving efficiency, resilience, and customer experience.

Strategic Outlook: This renewed partnership reaffirms TCS' market leadership in Banking, Financial Services, and Insurance (BFSI), demonstrating its ability to deliver advanced digital transformation solutions. TCS has maintained a robust presence in Norway for over three decades, employing more than 20,000 professionals in the Nordics, supporting prominent companies across sectors including finance, telecom, and technology. TCS continues to hold top customer satisfaction rankings in Norway and has received recognition as a Top Employer by the Top Employers Institute.

This collaboration highlights significant opportunities in leveraging technology to drive innovation, growth, and customer-centric transformations in the banking sector.