EPAM Q4 revenue $1.23B (+11.2% YoY), non-GAAP EPS $2.93; $500M buyback; FY23 rev at least $5.25B

Fourth Quarter 2022 • Revenues of $1.231 billion, up 11.2% year-over-year • GAAP Income from Operations was 13.8% of revenues and Non-GAAP Income from Operations was 17.8% of revenues • GAAP Diluted EPS of $2.61, an increase of 8.7%, and Non-GAAP Diluted EPS of $2.93, an increase of 6.2% on a year-over-year basis

The Company expects revenues will be at least $5.250 billion for 2023 reflecting a year-over-year growth rate of at least 9%. The Company expects foreign currency translation will have a minimal impact on year-over-year reported revenue growth. This guidance reflects negligible contribution from inorganic revenues. Revenue growth will be negatively impacted by approximately 2% as a result of the decision to exit the Russian market; • For the full year, EPAM expects GAAP income from operations to be in the range of 11.5% to 12.5% of revenues and non-GAAP income from operations to be in the range of 15.5% to 16.5% of revenues; • The Company expects its GAAP effective tax rate to be approximately 21% and its non-GAAP effective tax rate to be approximately 23%; and • EPAM expects GAAP diluted EPS will be in the range of $8.64 to $8.84 for the year, and non-GAAP diluted EPS will be in the range of $11.15 to $11.35 for the year. The Company expects weighted average diluted shares outstanding

The Company expects revenues will be in the range of $1.200 billion to $1.210 billion for the first quarter reflecting a year-over-year growth rate of approximately 3%, which includes an unfavorable foreign currency translation impact of approximately 2%. Revenue growth on a constant currency basis will be approximately 5%. This guidance reflects negligible contribution from inorganic revenues. Revenue growth will be negatively impacted by approximately 3% as a result of the decision to exit the Russian market; • For the first quarter, EPAM expects GAAP income from operations to be in the range of 9.5% to 10.5% of revenues and non-GAAP income from operations to be in the range of 14.0% to 15.0% of revenues; • The Company expects its GAAP effective tax rate to be approximately 18% and its non-GAAP effective tax rate to be approximately 23%; and • EPAM expects GAAP

Full Year 2022 • Revenues of $4.825 billion, up 28.4% year-over-year • GAAP Income from Operations was 11.9% of revenues and Non-GAAP Income from Operations was 17.0% of revenues • GAAP Diluted EPS of $7.09, a decrease of 13.0%, and Non-GAAP Diluted EPS of $10.90, an increase of 20.4% on a year-over-year basis