Analysts/Institutional Investor Meet/Con. Call Updates

www.stl.tech September 07, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No. C-1, G Block, Dalal Street, Bandra Kurla Complex, Bandra (East) Mumbai - 400 001. Mumbai - 400 051 Scrip ID - STLTECH Scrip Code - 532374 Sub.: Transcript of Investor/ Analyst Meet Dear Sir/Madam, In furtherance of our letter dated August 31, 2026, please find enclosed transcript of investor/ analyst meet held on September 03, 2026. The same is also being hosted on the website of the Company and is available under the tab ‘Our Growth Roadmap’ at: https://stl.tech/investor/#growth-roadmap. Kindly take this on record. Thanking you. Yours faithfully, For Sterlite Technologies Limited Mrunal Asawadekar Company Secretary & Compliance Officer Membership No.: A 24346 Encl.: As above. Sterlite Technologies Limited R egistered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 “Sterlite Technologies Limited Investor & Analyst Meeting” 3rd September, 2026 MANAGEMENT: MR. ANKIT AGARWAL – MANAGING DIRECTOR – STERLITE TECHNOLOGIES LIMITED MR. AJAY JHANJHARI – GROUP CHIEF FINANCIAL OFFICER – STERLITE TECHNOLOGIES LIMITED MR. RAHUL DARAK – HEAD, INVESTOR RELATIONS – STERLITE TECHNOLOGIES LIMITED Page 1 of 8 Sterlite Technologies Limited 3rd September, 2026 Rahul Darak: Good evening, everyone, and a very warm welcome to STL’s Investor Event. It is pleasure to have all of you with us today. Before we begin, I would like to draw your attention to the Safe Harbor Statement. Today’s remark may contain forward-looking statements that are subject to certain risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied. Today, we have an exciting agenda lined up for you. Our Managing Director, Mr. Ankit Agarwal, will first share an update on the evolving industry landscape and share companies’ strategic priorities. This will be followed by the financial perspective from our group CFO, Mr. Ajay Jhanjhari. With that, let me now invite Ankit to take us through STL’s growth roadmap. Over to you, Ankit. Ankit Agarwal: Yeah, good day, everyone. We’re very excited to have all of you here. Thank you for taking the time. We’re bringing everyone together today because STL’s at a pivotal moment in its journey. The industry around us is changing, the nature of optical demand is changing, and we believe these changes are opening up a significantly larger opportunity for STL than the one we’ve historically addressed. More importantly, they are reshaping the quality and nature of our revenue opportunities. As demand for optical connectivity is increasingly being driven by multiple structural and secular growth drivers, our business is becoming less dependent on traditional telecom investment cycles. So today, we would like to take a step back and talk about the nature and scale of this opportunity, why we believe STL is well-positioned to capture it, and most importantly, how we see our business and revenue profile going forward into a more structural, diversified, and less cyclical growth story. Let’s start with the change that is creating this next opportunity for STL. Up until a few years ago, the growth of the optical fiber was driven primarily by one thing, connecting people. Demand accelerated through broadband, FTTH, 4G, 5G, and large-scale fiber deployment programs such as Bharat Net in India and BED project in the US. STL’s been part of this journey for decades, building the fiber and cable infrastructure that has enabled this connectivity. Our traditional telecom markets remain an important part of STL’s business, and continue to benefit from the ongoing expansion of connectivity. But along this, a new, rapidly scaling opportunity is emerging, connecting intelligence. As AI adoption accelerates, connectivity is moving deeper inside the data center and closer to the compute. AI data centers can bring together tens of thousands of compute devices, creating significantly higher requirements for bandwidth, fiber latency, and high performance connectivity. So, for STL, we see two important growth engines coming together. The continued expansion of connectivity between people through telecom, alongside a rapidly growing need to connect intelligence and compute inside AI data centers. Page 2 of 8 Sterlite Technologies Limited 3rd September, 2026 Together, we are creating multiple growth drivers for optical connectivity. There are now more places where optical connectivity is required, and significantly more optical content required within each of these places. This is a fundamental shift that’s expanding the opportunity for STL. The shift we just described becomes much more pronounced when you look at the visual on this slide. A traditional cloud data center on the left side was primarily to connect servers to users. The network was important, but computing was largely happening between the individual servers. An AI factory is completely different. AI workloads are distributed across thousands of GPUs, which need to be communicated with each other continuously in real time. As a result, the network is no longer simply connecting computers to users, it’s becoming an integral part of the compute system itself. And this visual brings that change to life. The image to the right, as presented by Jensen Wang at GTC, shows an AI factory. If you look closely, you can see what happens to an ocean of blue running across the racks. This is a fundamental shift. As AI clusters scale the bandwidth requirements increase, connections become significantly denser. And the optical connector becomes closer and closer to compute. In other words, we are moving from a world where fiber is primarily about connecting people, to one where fiber is increasingly connecting intelligence. And that is a fundamental new growth opportunity for optical connectivity. As we move closer to the AI data centers, we see two distinct layers of opportunity. The first is inside the data center, where increasing compute density is driving dramatic increase in optical content. The second is between data centers, where the scale-aware infrastructure is creating a growth demand for High-Bandwidth Data Center Interconnect, or DCI. Let’s first take a look at what’s happening inside the data center. At the rack level, the progression is striking. You can see the change very clearly at the rack level. If you look at the legacy front-end rack, you would typically require around 1000 fibers per rack. As an AI infrastructure evolves, that number increases very dramatically. With Hopper, we’re talking about roughly 4,000 fibers per AC. With Blackwell, that increases to around 16,000 fibers per AC. And now, with the latest VERA Rubin, we’re looking at roughly 64,000 fibers per rack. That is a 64x increase in fiber content per rack in just a few generations of VR infrastructure. And you cannot simply be adding more conventional cables. You need high-density connectivity, you need better ways to manage these thousands of fiber connections, and you need to deploy… you need to be able to deploy them as quickly as possible and reliably through a range of pre-terminated solutions. The second layer of opportunity is what happens between these AI data centers on a campus. As AI clusters scale beyond a single facility with multiple data centers needed to operate as one connected infrastructure. And as the connectivity requirements increase faster than the number of data centers themselves. Two data centers require 1 interconnection, 4 require 6, 6 require 15, and 10 require 45. Page 3 of 8 Sterlite Technologies Limited 3rd September, 2026 So every new data center adds not just one more endpoint, but multiple new interconnection paths. As AI data centers scale, interconnections multiply, growing far faster than the number of data centers themselves. Coming to [Showing first 8,000 characters — download PDF for full document]