Net income for the third quarter of 2012 increased by 97.9% to $28.3 million from $14.3 million in the third quarter of 2011

Revenues for the third quarter of 2012 increased by 2% to $271.1 million from $265.7 million in the third quarter of 2011

Gross margin was 39.8% for the third quarter of 2012 compared to 36.9% in the corresponding quarter of 2011

Diluted earnings per share for the third quarter of 2012 were $0.27 GAAP; $0.46 non-GAAP

iGATE added nine new customers including five Fortune 1000 companies during the quarter

The company ended the third quarter of 2012 with 27,543 employees

Net revenue ($Millions)

Operating margin($Millions)

GAAP net income ($Millions)

GAAP diluted EPS ($)

A leading U.S. based Fortune 1000 company that provides health insurance services chose iGATE to streamline administration of its Long Term Care Insurance products. iGATE is working on a brand-transformational engagement of the company and will also provide integrated technology and operations-related services to facilitate lower costs of administration and increased profitability.

A large European financial institution has hired iGATE to adopt our post-trade settlement service to manage its standing settlement instructions more efficiently. This multi-year service agreement will allow the institution to manage large volumes of post-trade related data significantly more effectively; thereby minimizing errors and reducing re-work in its offices.

A U.S.-based Fortune 500 company that manufactures pharmaceutical and biotech products partnered with iGATE to reduce its cost of sales and, consequently, enhance its profits. As part of the engagement, iGATE will develop the company’s first mobile applications for its sales force, enabling them to seamlessly access data during sales calls, prepare quotes, check inventory and retrieve product specifications in a mobile environment. iGATE will also continuously enhance the integration of the mobile application with the company’s enterprise computer systems to positively impact the company’s profitability.

iGATE has been hired by a leading Malaysian mobile network operator to increase the quality standards of its mobile data and operations. iGATE will act as an independent testing partner and provide a wide range of quality assurance and testing services for policy, architectural, operational and other mobile data related systems.

A U.S.-based healthcare company that focuses on treating primary and recurrent prostate cancer selected iGATE to help improve its physician throughput. As part of this engagement, iGATE will deliver next-generation product design using “High Intensity Focused Ultrasound”. The product will be developed under very aggressive go-to-market timelines and is intended to demonstrate measurable work-flow improvements to the physicians’ efficiency and turnaround time.

iGATE, in association with Forbes of North America, announced its first-ever CEO Golf Cup event to be held on 12^th and 13^th January, 2013. CEOs from leading international companies were invited to compete in this event being held at the Sawgrass Marriott Golf Resort & Spa in Florida. iGATE will donate $100,000 to the winner’s favorite charities.

iGATE opened a new US facility in Sterling, Virginia on 15^th August, 2012. iGATE has expended over a million dollars on improvements to this facility, and over the next couple of years expects to create over 250 jobs in the region.

The Indo-Canadian Chamber of Commerce in Toronto invited Phaneesh Murthy to be its keynote speaker at a recent event. Mr. Murthy highlighted the importance of leveraging trade engagements between Canada and India to enhance the economic and productivity benefit of both countries.

iGATE was awarded the prestigious ‘Golden Peacock Innovation Management Award’ for the year 2012. This Award is regarded as one of the most esteemed awards for corporate organizational innovation.

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 “Patni”) and the previous delisting of iGATE’s Indian subsidiary. 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 aspect of the 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 our control. Management believes it is useful to exclude stock-based compensation in order to better understand the long-term performance of our core business.

Acquisition expenses: iGATE incurs costs related to its acquisitions, which are inconsistent in amount and frequency and are significantly impacted by the timing and nature of iGATE’s acquisitions. 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.

Foreign Exchange gain: The Company entered into forward foreign exchange contracts to mitigate the risk of changes in foreign exchange rates on payments related to the acquisition of Patni. We also recognized favorable foreign currency gain on re-measurement of escrow account balance maintained for facilitating payments related to the Patni acquisition. 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.

Severance Cost: As a result of the acquisition of Patni, iGATE incurred severance costs in connection with the termination of the services of some of Patni’s employees.

Delisting expenses: iGATE voluntarily delisted the equity shares of its majority owned subsidiary, Patni 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 therein 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. We believe that eliminating these expenses for purposes of calculating these non-GAAP measures facilitates a more meaningful evaluation of our current operating performance and comparisons to its past operating performance.

Prabhanjan Deshpande “PD”

+91 80 4104 5006

PD@igate.com

Araceli Roiz

+1 510 896 3007

araceli.roiz@igate.com

Current assets:

Cash and cash equivalents

Restricted Cash

Short-term investments

Accounts receivable, net

Unbilled revenues

Prepaid expenses and other current assets

Foreign exchange derivative contracts

Prepaid income taxes

Deferred tax assets

Receivable from Mastech Holdings, Inc.

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

Current liabilities:

Accounts payable

Accrued payroll and related costs

Accrued income taxes

Line of credit

Term loan

Other accrued liabilities

Foreign exchange derivative contracts

Deferred revenue

Total current liabilities

Other long-term liabilities

Senior notes

Term Loan

Foreign exchange derivative contracts

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

Additional paid-in capital

Retained earnings

Common stock in treasury, at cost

Accumulated other comprehensive loss

Total iGATE Corporation shareholders’ equity

Non controlling interest

Total equity

Total liabilities, preferred stock and shareholders’ equity

Revenues

Cost of revenues (exclusive of Depreciation and amortization)

Gross margin

Selling, general and administrative

Depreciation and amortization

Income from operations

Other income (loss), net

Income before income taxes

Income tax expense

Net income before noncontrolling interest

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

Basic and Diluted allocation of Undistributed Income

Common stock

Unvested restricted stock

Series B Preferred Stock

Shares outstanding:

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

GAAP Net income

Adjustments

Amortization of Intangible assets, net of taxes

Stock Based Compensation, net of taxes

Acquisition expenses, net of taxes

Delisting expenses, net of taxes

Merger and reorganization expenses

Forex (gain) / losson acquisition hedging and remeasurement, net of taxes

Severance cost, net of taxes

Non-GAAP Net income

Basic earnings per share from operations

GAAP

Non-GAAP

Diluted earnings per share from operations

GAAP

Non-GAAP

Weighted average shares outstanding, Basic*

Weighted average dilutive common equivalent shares outstanding*

Net income attributable to iGATE Corporation

Adjustments

Depreciation and amortization

Interest expenses

Income tax (benefit) expense

Noncontrolling interest

Other income, net

Foreign exchange (gain)/loss

Stock Based Compensation

Acquisition expenses

Severance expenses

Delisting expenses

Merger and reorganization expenses

Adjusted EBITDA (a non-GAAP measure)

Adjusted EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments;

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

Adjusted EBITDA does not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on our 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 our overall long-term incentive compensation package, although we exclude it as an expense when evaluating our ongoing operating performance for a particular period; Adjusted EBITDA does not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of our ongoing operations; and other companies in our industry may calculate adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.