Analysts/Institutional Investor Meet/Con. Call Updates

Date: October 06, 2026 To, To, The Listing Department, Department of Corporate Services National Stock Exchange of India Ltd BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex,Bandra (E) Dalal Street, Fort, Mumbai – 400 051 Mumbai - 400 001 NSE Symbol: PERNIASPOP BSE Scrip Code: 544901 Sub: Transcript of Earnings Conference Call on financial results of the Company for the quarter ended June 30, 2026. Dear Sir/Madam, Pursuant to Regulation 30 read with Para A of Part A of Schedule III to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Earnings Conference Call on financial results of the Company for the quarter ended June 30, 2026, held on Tuesday, September 29, 2026. The copy of transcript is also available on the Company’s website at https://www.purplestylelabs.com/. Thanking you, For and on Behalf of Purple Style Labs Limited Gulshan Mumtaz Khan Company Secretary and Compliance Officer Membership Number: A57061 Address: CTS No. 1081, Plot No. 110, TPS Village, Service Road, Western Express Highway, Vile parle (East), Mumbai, Maharashtra – 400057, India. “Purple Style Labs Limited Q1 FY27 Earnings Conference Call” September 29, 2026 “E&OE: This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchanges on September 29, 2026, will prevail.” MANAGEMENT: MR. ABHISHEK AGARWAL – WHOLE-TIME DIRECTOR AND CHIEF EXECUTIVE OFFICER – PURPLE STYLE LABS LIMITED STRATEGIC GROWTH ADVISORS, INVESTOR RELATIONS ADVISORS – PURPLE STYLE LABS LIMITED Page 1 of 17 Purple Style Labs Limited September 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Conference Call hosted by Purple Style Labs Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. I now hand over the conference to Mr. Abhishek Agarwal, Whole-Time Director and Chief Executive Officer from Purple Style Labs Limited. Thank you, and over to you, sir. Abhishek Agarwal: Hi, good afternoon everyone, and welcome to Purple Style Labs' Pernia's Pop-Up Shop Q1 FY27 Earnings Conference Call. Along with me, we have the SGA team, our Investor Relations Advisors. It is a pleasure for us to address analysts and our investors as a listed company for the first time. I hope all of you have gone through the investor presentation that we have uploaded on the exchanges and also on our company's website. Before I take you through our financial performance, I would like to spend some time explaining our business and how we have evolved it over the last few years, as we believe that understanding the underlying business model is important to interpret our financial performance better. Our core business, Pernia's Pop-Up Shop, is one of the largest and fastest-growing multi-brand luxury omni-channel fashion platforms in India, serving customers across India and international markets. We offer a carefully curated selection of luxury fashion sourced from more than 1,100 active designer brands and 2 lakh plus SKUs designer products on our website. Our product portfolio spans women's wear, men's wear, jewellery, accessories, and kids wear, with a strong focus on the occasion wear segment. We combine online discovery with large- format experience centers, allowing customers to explore a wide range of designers on our website while providing personalized styling and an immersive shopping experience at our stores. Therefore, we see online and offline not as competing channels, but as complementary in our customer journey. Another important aspect of our business model is our inventory strategy. We follow a breadth over depth approach, offering a wide range of designs while maintaining mostly singular quantity of individual products at our stores. Depending on the product category, we use a combination of outright purchase, backorder, and consignment models with different commercial terms and varying markdowns across designer brands. The unique aspect of our business model is the backorder model, in which the customer places the order first with upfront payment, following which we procure the product from designer with a delivery window of 7 to 90 days depending on the product. This approach allows us to maintain Page 2 of 17 Purple Style Labs Limited September 29, 2026 a very wide curation with efficient inventory management, while limiting the need to carry large quantities of individual designer products at our stores. PSL had acquired Pernia's Pop-Up Shop in February 2018, prior to which it was primarily an e- commerce platform. Post the acquisition, our journey can broadly be understood through three distinct generations. You can refer to the slide seven on our presentation for the same. Post the acquisition, our journey can broadly be understood through these three generations. The first generation from FY19 to '21 was all about laying the foundation. During this period, we transformed Pernia's Pop-Up Shop into an omni-channel platform, opened eight experience centers across 5 cities, including London, and built the designer brand supply across all categories and price points. This foundation helped us grow the platform GMV from INR23 crores in FY19 to INR66 crores in FY21. Now, the second generation from FY22 to '24 was about scaling the footprint. We scaled our experience centers' presence to 13 locations across 8 cities and started the transition towards large-format experience centers, which typically ranged between 20,000 to 60,000 square feet, and deepened our designer supply, particularly in women's wear of 1 lakh plus and men's wear segment. During this period, the GMV increased almost 10x to INR622 crores in FY24 versus FY21, while AOV almost doubled from INR22,000 in FY21 to INR46,000 in FY24. Now, FY24 we then consciously trimmed the long tail of both designers and customers and sharpened our focus on luxury. This marked the beginning of what we call as the third generation of growth. Starting in FY25 with a focus on optimizing the platform first. Then after March '25, we have actively changed growth gears and opened four large experience centers during FY26. The iconic Fort Mumbai and South Ex Delhi locations have been fully operational since Q2 of FY26. Then another important project, our Linking Road, Bandra, Mumbai store opened towards the end of March '26, alongside opened one of the most important milestones of our recent journey, a flagship store on Madison Avenue, Manhattan, New York. During this time, the average order value increased from INR46,000 in FY24 to INR76,000 in FY26, and in the first quarter of '27 has jumped to a further INR86,000. FY27 is therefore the first full year with which we have started realizing the growth trajectory of the investment that we had made in the last financial year. Now, please refer to the Slide 9 on our presentation to understand our geographical expansion strategy. This evolution across three generation reflects in how we have scaled our presence in the relevant markets of our industry. In the first generation, we focused on establishing our initial footprint across key cities through eight small stores, laying the base for future growth. We also established our first international presence in London in the same window. Now, in the second generation, we scaled this footprint and began moving from bigger stores, starting in our largest market, Delhi, which has a strong concentration of affluent customers and Page 3 of 17 Purple Style Labs Limited September 29, 2026 luxury fashion demand. Thereby increasing the Delhi GMV contribution sharply to INR127 crores in FY ‘24. In our second-largest mark [Showing first 8,000 characters — download PDF for full document]