Copy of Investor Presentation

Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills Hyderabad – 500 034, Telangana, India CIN: L85195TG1984PLC004507 Tel: + 91 40 4900 2900 Fax: + 91 40 4900 2999 Email: mail@drreddys.com Web: www.drreddys.com July 22, 2026 National Stock Exchange of India Ltd. (Scrip Code: DRREDDY) BSE Limited. (Scrip Code: 500124) New York Stock Exchange Inc. (Stock Code: RDY) NSE IFSC Ltd. (Stock Code: DRREDDY) Dear Sir/Madam, Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Q1 FY27 Unaudited Financial Results Presentation Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the presentation on the Unaudited Financial Results of the Company for the quarter ended June 30, 2026. This is for your information and records. Thanking you. Yours faithfully, For Dr. Reddy’s Laboratories Limited K Randhir Singh Company Secretary, Compliance Officer & Head-CSR Encl: as above Dr. Reddy’s Q1FY27 RESULTS UPDATE 22 JULY 2026 1 | September 2025 | Investor Presentation | As per consolidated financial statements under IFRS Safe Harbor Statement This presentation contains forward-looking statements and information that involve risks, uncertainties and assumptions. Forward-looking statements are all statements that concern plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical fact, including, but not limited to, those that are identified by the use of words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “predicts”, “projects” and similar expressions. Risks and uncertainties that could affect us include, without limitation: ▪ General economic and business conditions in India and other key global markets in which we operate; ▪ The ability to successfully implement our strategy, our research and development efforts, growth & expansion plans and technological changes; ▪ Changes in the value of the Rupee and other currency changes; ▪ Changes in the Indian and international interest rates; ▪ Allocations of funds by the Governments in our key global markets; ▪ Changes in laws and regulations that apply to our customers, suppliers, and the pharmaceutical industry; ▪ Increasing competition in and the conditions of our customers, suppliers and the pharmaceutical industry; and ▪ Changes in political conditions in India and in our key global markets. Should one or more of such risks and uncertainties materialize, or should any underlying assumption prove incorrect, actual outcomes may vary materially from those indicated in the applicable forward-looking statements. For more detailed information on the risks and uncertainties associated with the Company’s business activities, please see the company’s annual report filed in Form 20-F with the US SEC for the fiscal year ended March 31, 2026, and our other filings with US SEC. Any forward-looking statement or information contained in this presentation speaks only as of the date of the statement. We are not required to update any such statement or information to either reflect events or circumstances that occur after the date the statement or information is made or to account for unanticipated events. 2 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Financial Highlights Healthy double-digit base business^ growth; EBITDA Margin @15.4% before semaglutide related impact Reported Revenues FINANCIALS EXCLUDING 8,071 ₹ Cr SEMAGLUTIDE API RELATED IMPACT 6% YoY 7% QoQ 8,087 49.4% 15.4% 9.8% Financials excluding semaglutide Impact EBITDA | EBITDA % SemaglutideAPI related impact 1,009 ₹ Cr | 12.5% 4,814 2,351 1,835 As reported 8,727 23.8% 17.7% 56% YoY 3% QoQ 8,071 46.5% 12.5% 6.8% 54.7% 26.7% 20.8% Revenues Gross Margin EBITDA PBT PBT | PBT % 553 ^Excluding Lenalidomide ₹ Cr | 6.8% • Semaglutide API related impact of ₹ 240 Cr, including inventory provision and other associated costs. 71% YoY 178% QoQ • EBITDA margin further impacted by higher solvent and freight cost arising from Middle East conflict *PAT | PAT % • Reported RoCE @5.3%. Excluding semaglutide API impact, RoCE @8%. ₹ Cr | 5.5% • Net Cash surplus at ₹3,058 Cr. 69% YoY 101% QoQ *Attributable to Equity shareholders 3 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Business Highlights Continued progress across strategic priorities • First-to-market launch in the US of anti-cancer drug, bosutinib 400mg, with a 180-day exclusivity. • Dr. Reddy’s becomes 1st company to launch generic semaglutide injection for Type 2 Diabetes in Canada • Launched generic semaglutide tablets in India. • Launched nutrition offerings, Celevida GLP+, through our collaboration with Nestlé. • Toripalimab, novel in-licensed oncology drug, entered ₹100 crore club in <2 years of launch in India. • Partnered with Innoviva Specialty Therapeutics to develop and commercialise, XACDURO®, a critical-care antibiotic, across select emerging markets. • Fast Track Designation granted by USFDA for partnered product, COYA 302, for ALS treatment. • Filed Marketing Authorisation Application for abatacept IV presentation with European Medicines Agency for Europe. 4 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Other Highlights • Celebrated 25 years of NYSE listing, as the 1st and only Indian pharmaceutical company listed on the exchange. • Placed in the top 1% globally by FTSE Russell. • Ranked 165th globally among TIME–Statista World’s Most Sustainable Companies, 5th among Indian companies. OTHER UPDATES • Received a Form 483 with 7 observations, following a PLI at biologics facility, Bachupally in Jun ’26, responded within the timeline. • Certain batches of semaglutide were found to be out of specification due to an issue associated with the API. 5 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Revenue Split Double-digit base business growth across all geographies, aided by forex, offset by lower lenalidomide sales REVENUE BY SEGMENT GLOBAL GENERICS SPLIT North America Europe 2,205 1,444 ₹ Cr ₹ Cr GLOBAL GENERICS 35%YoY 26%QoQ 13%YoY 0.6%QoQ Overall 8,071 27% ₹ Cr 6% 7% PSAI YoY QoQ 21% India OTHERS 1,718 0% ₹ Cr Global Generics PSAI 17%YoY 10%QoQ 7,199 852 ₹ Cr ₹ Cr 5%YoY 9%QoQ 4%YoY 7%QoQ Emerging Markets 1,833 ₹ Cr Branded businesses (India, Emerging Markets & NRT) account for 52% of revenues 31%YoY 2%QoQ 6 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Key Financial Metrics Sustaining growth & profitability, while investing for the future REVENUES GROSS MARGINS SG&A R&D EBITDA MARGINS (₹ Cr) (% of Revenues) (% of Revenues) (% of Revenues) (% of Revenues) Q1FY27 8,071 *Q1FY27 46.5% Q1FY27 35.7% Q1FY27 7.1% *Q1FY27 12.5% *Q4FY26 7,516 ^Q4FY26 44.8% *Q4FY26 36.9% *Q4FY26 7.3% ^Q4FY26 13.0% Q3FY26 8,727 Q3FY26 53.6% Q3FY26 30.8% Q3FY26 7.0% #Q3FY26 23.5% Q2FY26 8,805 Q2FY26 54.7% Q2FY26 30.0% Q2FY26 7.0% Q2FY26 26.7% Q1FY26 8,545 Q1FY26 56.9% Q1FY26 30.0% Q1FY26 7.3% Q1FY26 26.7% *49.4% excl. semaAPI related impact *15.4% excl. semaAPI related impact *Excl. lenalidomide shelf stock adjustment (SSA), ^48% excl. SSA *Excl. VAT liability, 33.4% of revenues excl. SSA *Excl. CAR-T charge, 6.8% of revenues excl. SSA ^19.5%, excl. SSA, CAR-T charge, VAT liability Q4 revenues ₹7,969Cr #24.8%, excl. provision related to new Labour Codes in India DILUTED EPS CASH FLOW NET DEBT / EQUITY RoCE (Annualized) CAPEX (₹ ) (₹ Cr) (%) (₹ Cr) Q1FY27 5.3 *Q1FY27 5.3% Q1FY27 307 *Q1FY27 -216 -0.08 ^Q1FY27 -0.09 Q4FY26 Q4FY26 2.6 ^Q4FY26 15.8% Q4FY26 438 *Q4FY26 600 -0.08 Q3FY26 Q3FY26 14.5 Q3FY26 20.4% Q3FY26 669 Q3FY26 374 Q2FY26 17.3 Q2FY26 21.9% Q2FY26 511 *Q2FY26 1,046 -0.0 [Showing first 8,000 characters — download PDF for full document]