Public Country by Country Report (on income tax information)

Section 1. General information

Name of ultimate parent of group / of standalone company	EPAM Systems, Inc.
Country of registered office of ultimate parent undertaking	The United States of America
Date of start of financial year	2025-01-01
Date of end of financial year	2025-12-31
Reporting currency	USD
Application of option to report in accordance with taxation reporting instructions	Yes
Name and registered office of a single subsidiary undertaking which has published the report on income tax information of an undertaking that is not governed by the law of a Member State	-
Name and address of a single branch which has published the report on income tax information of an undertaking that is not governed by the law of a Member State	-
Language of report	english - en

Section 2. Overview of information on a country-by-country basis

Name of Member State or tax jurisdiction	Country code of Member State or tax jurisdiction	Revenues	Profit (loss) before tax	Income tax paid (on cash basis)	Income tax accrued – current year	Accumulated earnings	Number of employees
Austria	AT	6686279	-886285	-129800	-395995	-2691775	21
Belgium	BE	59206900	25201992	219427	631991	12920559	154
Bulgaria	BG	31719432	1496825	306314	309960	13334450	467
Croatia	HR	23007593	1082873	220877	282050	2182960	310
Cyprus	CY	23433255	18457973	821534	3344785	167220537	124
Czech Republic	CZ	37126482	1369126	1347442	745676	13194744	273
Denmark	DK	4723308	508144	18135	445	1329902	2
France	FR	27961059	-2013933	-524601	139660	1701879	81
Germany	DE	257072692	12348274	6434443	5636307	45664120	400
Greece	GR	13208879	683388	-674	41085	501124	69
Hungary	HU	164827584	12463187	181483	-616139	74829768	1972
Ireland	IE	115061531	4923160	622486	748610	3052659	218
Italy	IT	27418860	2373890	36384	1118284	752977	52
Latvia	LV	16279177	864243	8557	0	2984437	178
Lithuania	LT	100231477	5982215	1807531	1245559	41173716	1115
Malaysia	MY	5753614	313481	112388	120599	1811805	77
Malta	MT	3924336	-683358	22965	0	398916	26
Montenegro	ME	14163185	958489	233986	184322	3937357	205
Netherlands	NL	264720616	-30032883	3866507	5074571	-118789228	607
Panama	PA	7304172	408676	91360	48750	1658523	1
Poland	PL	565422237	87585318	-4169260	9738649	135772766	5747
Portugal	PT	17209841	811420	344082	263629	2108173	161
Romania	RO	47468704	1712680	687837	336226	8131250	296
Slovak Republic	SK	9590806	366011	183167	123426	1261258	74
Spain	ES	198446852	5805022	2848369	2167597	63928123	1975
Sweden	SE	54631208	2757348	1212811	71253	22698556	56
Turkey	TR	74122978	2176347	688129	294431	5068786	946
Vietnam	VN	5743314	531160	0	21910	-437966	124
British Virgin Islands	VG	0	0	0	0	0	0
All other tax jurisdictions (aggregated basis)
		9486363946	338019039	166938264	154563500	1485920816	47131

Section 3. List of subsidiaries and activities

Name of Member State or tax jurisdiction	Country code of Member State or tax jurisdiction	Name of subsidiary undertakings consolidated in financial statements of ultimate parent undertaking	Brief description per country of nature of activities in Member State or tax jurisdiction
Austria	AT	EPAM Systems Austria GmbH (former name: Emakina Central & Eastern Europe GmbH)	Sales, Marketing, or Distribution
Austria	AT	EPAM Systems Austria GmbH	Other
Austria	AT	NetLounge Cloud Services GmbH	Other
Belgium	BE	EPAM Systems Belgium (Branch of Netherlands)	Sales, Marketing, or Distribution
Belgium	BE	EPAM Systems Belgium Srl	Sales, Marketing, or Distribution
Belgium	BE	EPAM SYSTEMS.BE SRL	Sales, Marketing, or Distribution
Belgium	BE	The Reference BV	Sales, Marketing, or Distribution
Bulgaria	BG	EPAM Systems Bulgaria EOOD	Manufacturing or Production
Croatia	HR	EPAM Systems d.o.o.	Manufacturing or Production
Cyprus	CY	EPAM Solutions (Cyprus) Limited	Manufacturing or Production and Sales, Marketing, or Distribution
Cyprus	CY	EPAM Systems (Cyprus) Limited	Holding shares or other equity instruments
Czech Republic	CZ	EPAM Systems (Czech Republic) s.r.o.	Manufacturing or Production
Czech Republic	CZ	Neoris Czech Republic S.R.O.	Provision of Services to unrelated parties
Czech Republic	CZ	Odysseus Data Services s.r.o.	Manufacturing or Production
Denmark	DK	EPAM Systems ApS	Sales, Marketing, or Distribution
France	FR	EPAM France SAS	Manufacturing or Production and Sales, Marketing, or Distribution
France	FR	EPAM Systems France S.A.S.	Other
Germany	DE	COREtransform GmbH (Germany)	Manufacturing or Production and Provision of Services to unrelated parties
Germany	DE	Emakina.DE GmbH i.L.	Other
Germany	DE	EPAM Systems GmbH	Sales, Marketing, or Distribution
Germany	DE	Odysseus Data Services GmbH	Other
Germany	DE	test IO GmbH	Manufacturing or Production and Sales, Marketing, or Distribution
Greece	GR	EPAM SYSTEMS HELLAS SINGLE MEMBER PRIVATE COMPANY	Manufacturing or Production and Sales, Marketing, or Distribution
Hungary	HU	EPAM Systems Kft	Manufacturing or Production
Hungary	HU	Neoris Consulting & Information Technology Services LLC	Provision of Services to unrelated parties
Ireland	IE	EPAM Systems (Ireland) Limited	Sales, Marketing, or Distribution
Ireland	IE	First Derivative (Ireland) Limited	Manufacturing or Production
Italy	IT	EPAM Systems Italy S.r.l.	Manufacturing or Production and Sales, Marketing, or Distribution
Latvia	LV	EPAM Systems SIA	Manufacturing or Production
Lithuania	LT	EPAM Sistemos, UAB	Manufacturing or Production
Lithuania	LT	Odysseus Data Services UAB	Other
Malaysia	MY	EPAM SYSTEMS (MALAYSIA) SDNBHD	Other
Malaysia	MY	JUST BI Sdn Bhd	Manufacturing or Production
Malta	MT	Ricston Limited	Manufacturing or Production and Sales, Marketing, or Distribution
Montenegro	ME	EPAM Systems Montenegro d.o.o.	Manufacturing or Production
Netherlands	NL	Emakina.NL BV	Sales, Marketing, or Distribution
Netherlands	NL	EPAM Systems Netherlands BV	Sales, Marketing, or Distribution
Netherlands	NL	Neoris BV	Holding shares or other equity instruments
Panama	PA	S4N Panama SRL	Sales, Marketing, or Distribution
Poland	PL	EPAM Systems (Poland) sp z.o.o.	Manufacturing or Production
Poland	PL	First Derivatives Poland S.P. Z.o.o	Manufacturing or Production
Poland	PL	PolSource sp. z.o.o.	Manufacturing or Production and Provision of Services to unrelated parties
Portugal	PT	Consultora de Telecomunicaciones Optiva Média SL- Sucursal EM Portugal	Other
Portugal	PT	EPAM Systems Portugal, Unipessoal Lda.	Manufacturing or Production
Romania	RO	EPAM Systems International SRL	Manufacturing or Production
Slovak Republic	SK	EPAM System s.r.o.	Manufacturing or Production
Spain	ES	Consultora de Telecomunicaciones Optiva Media, S.L.	Other
Spain	ES	EPAM Systems Spain SL	Manufacturing or Production
Spain	ES	FD Technologies Spain, S.L.U.	Manufacturing or Production
Spain	ES	Neoris Espana S.L.U.	Provision of Services to unrelated parties
Sweden	SE	Emakina AB	Other
Sweden	SE	EPAM Systems Nordic AB	Sales, Marketing, or Distribution
Sweden	SE	First Derivatives Sweden AB	Manufacturing or Production
Turkey	TR	Emakina Bilgisayar Yazılım İnşaat Turizm Sanayi ve Ticaret AŞ	Other
Turkey	TR	EPAM Systems Yazılım Geliştirme Ltd. Şti.	Manufacturing or Production
Turkey	TR	Mye Bilgisayar Yazılım Ticaret AŞ	Other
Vietnam	VN	EPAM Systems (Vietnam) Company Limited	Manufacturing or Production
British Virgin Islands	VG	J8 Corp	Holding shares or other equity instruments

Section 4. Omitted information

Information omitted (if any) for this financial year
Information omitted	Information omitted, other tax jurisdictions	Explanation of reason for omission of information
-	-	-
Disclosure of information omitted for previous financial years
-

Section 5. Explanations for material discrepancies between income tax paid and accrued

Explanation of any material discrepancies between income tax paid and accrued
Poland (R&D incentive): The difference between income taxes accrued and income taxes paid in Poland primarily reflects the impact of the Poland research and development (“R&D”) tax relief. For financial reporting purposes, which also forms the basis for the preparation of the CbCR data, the benefit of the Poland R&D incentive is recorded as a reduction to Cost of revenues in the income statement rather than as a reduction to income tax expense. As a result, the income tax accrued for the year does not reflect the economic benefit of the incentive. The negative income tax paid amount in the reporting period primarily reflects refunds of corporate income taxes paid in prior years following the application of the R&D incentive. Other jurisdictions: For other jurisdictions, differences between income taxes accrued and income taxes paid are primarily attributable to timing differences between the recognition of tax expense for financial reporting purposes and the payment/refund of such taxes.

Explanation of any material discrepancies between income tax paid and accrued

Poland (R&D incentive): The difference between income taxes accrued and income taxes paid in Poland primarily reflects the impact of the Poland research and development (“R&D”) tax relief. For financial reporting purposes, which also forms the basis for the preparation of the CbCR data, the benefit of the Poland R&D incentive is recorded as a reduction to Cost of revenues in the income statement rather than as a reduction to income tax expense. As a result, the income tax accrued for the year does not reflect the economic benefit of the incentive. The negative income tax paid amount in the reporting period primarily reflects refunds of corporate income taxes paid in prior years following the application of the R&D incentive. Other jurisdictions: For other jurisdictions, differences between income taxes accrued and income taxes paid are primarily attributable to timing differences between the recognition of tax expense for financial reporting purposes and the payment/refund of such taxes.

Public Country by Country Report (on income tax information)

Section 1. General information

Section 2. Overview of information on a country-by-country basis

Section 3. List of subsidiaries and activities

Section 4. Omitted information

Section 5. Explanations for material discrepancies between income tax paid and accrued

Conclusion