IBEX Ltd

As required by Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid to our named executive officers and certain performance measures of the Company. For further information concerning the Company's variable "pay-for-performance" philosophy and how the Compensation Committee aligns executive compensation with the Company's performance, please refer to the section "Compensation Discussion and Analysis."

1. Mr. Dechant served as our principal executive officer ("PEO") for the full fiscal year for each of 2026, 2025 and 2024. For fiscal year 2026, our non-PEO named executive officers included Messrs. Greenwald, Afdahl, Darwal, and Ringman. For fiscal years 2025 and 2024, our non-PEO named executive officers included Messrs. Greenwald, Afdahl, and Bruce Dawson and Julie Casteel. For each of fiscal year 2026, 2025 and 2024, the values included in this column for the compensation actually paid to our PEO, Robert Dechant, and the average compensation actually paid to our non-PEO NEOs reflect the following adjustments:

2. For each of 2026, 2025 and 2024, our total shareholder return was calculated as the yearly percentage change in our cumulative total shareholder return on our common stock, measured as the quotient of (a) the sum of (i) the cumulative amount of dividends for a period beginning with our closing price on the Nasdaq Stock Market on June 30, 2023 through and including the last day of the fiscal year covered (the “Measurement Period”), assuming dividend reinvestment, plus (ii) the difference between our stock price at the end and the beginning of the Measurement Period, divided by (b) our stock price at the beginning of the Measurement Period. Each of these yearly percentage changes was then applied to a deemed fixed investment of $100 at the beginning of the Measurement Period to produce the year-end values of such investment as of the end of fiscal 2026, 2025 and 2024, as applicable. Because fiscal years are presented in the table in reverse chronological order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time.

3. For purposes of this pay versus performance disclosure, our peer group is comprised of Concentrix Corporation (Nasdaq: CNXC), TaskUs, Inc. (Nasdaq: TASK), Teleperformance (Euronext Paris: TEP), TTEC Holdings, Inc. (Nasdaq: TTEC), ExlService Holdings, Inc. (Nasdaq: EXLS) and Conduent Incorporated (Nasdaq: CNDT) (the “Peer Group”). For each of fiscal 2026, 2025 and 2024, our Peer Group TSR was calculated based on a deemed fixed investment of $100 through the Measurement Period, assuming dividend reinvestment for the entities in our Peer Group.

4. Net income is calculated in accordance with GAAP.

5. Adjusted EBITDA is calculated as set forth in Appendix A.

The following comparisons provide descriptions of the relationships between certain figures including in the Pay versus Performance table for each of 2026, 2025 and 2024, including a comparison between (i) the compensation actually paid to the PEO and the average compensation actually paid to our non-PEO NEOs and (ii) the performance measures of (a) our net income; (b) our cumulative total shareholder return and the total shareholder return of the peer group; and (c) Adjusted EBITDA.

Tabular List

The following table lists the three financial performance measures that we believe represent the most important financial performance measures we used to link compensation actually paid to our NEOs for fiscal 2026 to our performance:

Adjusted EBITDA

Revenue

Relative Total Shareholder Return