EPAM Named a Top IT Sourcing Vendor in the Nordics

Achieving top scores in transformative innovation and account management quality, EPAM leads the Nordic IT market in customer satisfaction

NEWTOWN, Pa. and STOCKHOLM, April 3, 2024 /PRNewswire/ -- Businesses continue to be impacted by growing technology modernization requirements needed to sustain growth and remain competitive, highlighting the need for external IT providers to bring the latest digital transformation services and engineering capabilities. EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has been named a Top IT Sourcing Vendor in the Nordics, achieving high customer satisfaction rankings for the second year in a row by Whitelane Research, an independent organization focused on IT sourcing research across Europe. This recognition underscores EPAM's commitment to providing best-in-class application services, account management and service delivery for clients across multiple industry sectors in the Nordic region.

"We're honored to be recognized by our clients for the second consecutive year as a top IT service provider in the Nordics IT sourcing market," said Boel Zeeberg, VP, EPAM Nordics. "This outstanding customer evaluation demonstrates the success of our ongoing partnerships and our commitment to supporting their innovation journeys. We're excited to continue leveraging our Engineering DNA to help customers scale and transform through our innovative strategy, integrated advisory, consulting and design capabilities."

In the 2024 Nordic IT Sourcing Study by Whitelane Research, 450+ participants from the top IT spending organizations in the Nordics evaluated more than 1,000 unique IT sourcing relationships based on key performance indicators and by IT service tower, delivering one of the most representative reports on the Nordics outsourcing market. Survey respondents evaluated 35 IT service providers across several performance categories.

EPAM achieved exceptionally high satisfaction ratings in the following categories:

• Account Management Quality: EPAM received a rating of 85%
• Service Delivery Quality: EPAM received a rating of 82%
• Digital Transformation: EPAM received a rating of 80%
• Application Services: EPAM received a rating of 80%
• General Satisfaction: EPAM received a rating of 80%

"EPAM has once again shown its strength in the Nordics among clients by achieving the number one position as the leading IT Sourcing vendor with exceptional capabilities in transformative innovation, account management, digital transformation and application services," said Alex van den Bergh, Head of Research, Europe at Whitelane. "EPAM continues to deliver impactful results and make the future real for clients who particularly value its dedicated global teams who demonstrate advanced engineering and technical capabilities across diverse industries."

This customer-led recognition reinforces EPAM's consistently high performance as a leading IT sourcing provider in multiple European markets, adding to the following series of recent achievements received from Whiteland Research:

• Top IT Sourcing Vendor in Europe, February 2024
• Top IT Sourcing Vendor in the Netherlands, March 2024
• Top IT Sourcing Vendor in Germany, December 2023
• Top IT Sourcing Vendor in Switzerland, September 2023

To see the full survey results, visit: https://whitelane.com/nordics-2024/.

ABOUT EPAM SYSTEMS

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, as well as a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by fusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments.

We deliver globally, but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners and our people around the world.

We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor as a Best Workplace in 2023 and 2024, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services as well as a leader in the 2023 Gartner (NYSE:IT) ^® Magic Quadrant^™ for Custom Software Development Services, Worldwide.

Learn more at www.epam.com and follow us on LinkedIn.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on customer demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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