Investor Presentation

WATERWAYS LEISURE TOURISM LIMITED (FORMERLY KNOWN AS WATERWAYS LEISURE TOURISM PRIVATE LIMITED) 09th October, 2026 To To Listing Department, Listing Department BSE Limited National Stock Exchange of India Limited P.J Tower, Dalal Street, Exchange Plaza, Plot No. C/1, G Block, Mumbai- 400001 BKC, Bandra (East), Mumbai – 400051. Scrip Code: 544802 Symbol: CORDELIA Dear Sir(s), Sub: Earning Release In compliance with the relevant provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the Earning Release on the Un-audited Standalone and Consolidated Financial Results of the Company for the Second Quarter / Half Year ended on September 30, 2026. Kindly take the above on record. For on behalf of Waterways Leisure Tourism Limited (Formerly Waterways Leisure Tourism Private Limited) Ankit Satish Shah Company Secretary & Compliance Officer (ACS: 68732) CIN No. L63030MH2020PLC440323 Regd. Office & Corp. a – A-1601, Marathon Futurex, NM Joshi Marg, Lower Parel East, Delisle Road, Mumbai – 400013. Email – waterwaysleisure2021@gmail.com/cs@waterways-leisure.com| Website - www.cordeliacruises.com *Confidentiality Notice: This letterhead including supporting enclosures (if any) are intended for the use of the recipient(s) only and may contain confidential or privileged information. Unauthorized use, disclosure, copying, or uploading on social media platforms is strictly prohibited. If you are not the intended recipient, please notify the sender immediately and destroy all copies of this document and enclosures. WATERWAYS LEISURE TOURISM LIMITED Investor Presentation Q2 & H1 FY27 Period ended September 30, 2026 Strictly private and confidential ORIENTATION Forward Looking Statements This presentation and the accompanying slides (the “Presentation”), which This document should be read in conjunction with the Company’s have been prepared by Waterways Leisure Tourism Limited (the published financial results. Certain analysis undertaken and represented in “Company”), operator of the Cordelia Cruises brand, have been prepared this document may constitute an estimate or interpretation and may differ solely for information purposes and do not constitute any offer, from the actual underlying results. recommendation or invitation to purchase or subscribe to any securities. All figures are derived from the Company’s internal Operating Profit This Presentation may contain certain statements that are forward- Analysis and its restated statutory financial statements, and are presented looking, including the words or phrases such as “expects”, “anticipates”, in INR Millions unless otherwise stated. Figures for previous periods have “intends”, “will”, “would”, “estimates”, “believes”, “plans”, “project” or been regrouped and/or reclassified wherever considered necessary. similar expressions. These forward-looking statements are based on certain expectations, assumptions and anticipated developments and other factors which are not limited to risks and uncertainties regarding Non-IndAS measures fluctuations in earnings, market growth, intense competition, the pricing Measures marked with an asterisk (*) —EBITDA, Net Yield, Net environment, fuel price movements, foreign exchange movements and Cruise Cost —are adjusted management measures not defined geopolitical developments. under IndAS, and may not be comparable to similarly titled measures used by other companies. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date hereof. Cordelia Cruises · Q2 & H1 FY27 THE PERIOD UNDER REVIEW Q2 & H1 FY27 at a Glance QUARTERLY HALF YEARLY REVENUE FROM EBITDA* EBITDA MARGIN REVENUE FROM EBITDA* EBITDA MARGIN OPERATIONS OPERATIONS ₹1,329 ₹777 58.45% ₹3,230 ₹1,242 38.45% +31% YoY +3337% YoY +61 bps YoY +16% YoY +131% YoY +19 bps YoY PAT PAT MARGIN EPS PAT PAT MARGIN EPS ₹585 44.02% ₹0.85 ₹813 25.16% ₹1.20 +755% YoY +53 bps YoY Not annualised +215% YoY +16 bps YoY Not annualised Cordelia Cruises · Q2 & H1 FY27 *Consolidated considering exceptional items;(Figures in INR Mn) Industry Overview ESTIMATED CRUISE PENETRATION, FY26 Highly consolidated global market: Major cruise players account for 70–80%+ of the global industry. ~5.7% ~0.01% High entry barriers: Capital-intensive operations and stringent regulations limit new entrants. North America India Expanding opportunities: 30+ potential cruise routes identified across recreational, heritage and long-distance segments. Untapped Indian potential: Growing scope for domestic, international and niche cruise tourism. OVERNIGHT OCEAN & COASTAL CRUISE MARKET, INDIA Growing market: India’s overnight ocean & coastal cruise market grew from ₹5,764 Mn (FY20) to ₹8,301 Mn (FY25), ~8% CAGR. ₹7,325 ₹18,200–22,500 Favorable growth drivers: Rising disposable incomes, aspirational travel, better port infrastructure and government support. FY26E · INR Mn FY31P · CAGR ~20–25% Significant headroom: India’s cruise market remains nascent, with strong medium-term growth potential. Cordelia Cruises · Q2 & H1 FY27 Company Overview ▸ India’s only domestic ocean cruise operator as of December 31, 2024, offering premium cruising with Indian hospitality and cultural experiences, driving brand recognition, customer loyalty and competitive positioning. ▸ Extensive domestic itineraries covering Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry. ▸ International itineraries covering Sri Lanka (Hambantota, Trincomalee & Jaffna) and destinations including Phuket, Singapore, Kuala Lumpur and Langkawi. ▸ Comprehensive onboard experiences including multiple dining venues, casino, theatre, spa, swimming pools, live music, magic shows and professional theatrical performances. ▸ Festive experiences during Christmas and New Year’s, featuring themed décor, curated menus, festive events and tailored entertainment. ▸ Curated shore excursions combining culture, luxury and adventure, including Lakshadweep snorkeling & scuba diving, Agatti Island tours, Jaffna Fort & Nallur Kandaswamy Kovil visits, and Goa heritage walks, Basilica visits & spice plantation tours. Cordelia Cruises · Q2 & H1 FY27 COMPANY OVERVIEW Ownership Structure EXISTING CORPORATE & OPERATIONAL STRUCTURE OF MV EMPRESS NEW CRUISES: NORWEGIAN SKY AND NORWEGIAN SUN Norwegian Sky Limited and Norwegian Sun Rajesh Hotwani Limited (Vessel Owners) Global Shipping & Leisure Limited (Mauritius registered) (Corporate Bareboat charter agreement Promoter) (Indian Entity -Issuer Company) Baycruise Shipping & Leasing (IFSC) Pvt Waterways Leisure Tourism Ltd Time Vessel operating entity Ltd charter of (GIFT City, Gujarat) Empress Bay Cruise Investments Inc. (BVI) cruise Vessel owning entity: MV Empress Time charter of Norwegian Sky and (Wholly owned subsidiary of issuer) Norwegian Sun cruise Nature of Business: Baycruise Shipping & Leasing (IFSC) Ship leasing: operating and financial Pvt Ltd leasing, purchase, sale and lease-back, Waterways Leisure Tourism Ltd (GIFT City, Gujarat) (Step-down novate, transfer, assignment of ocean subsidiary of issuer) vessels. (Indian Entity) Operating lease of ocean vessels. Advice or soliciting for ocean vessel leasing transactions Cordelia Cruises · Q2 & H1 FY27 COMPANY OVERVIEW Board of Directors Jurgen Bailom Anil Kumar Chopra Chairman of the Board, Executive Director and CEO Independent Director Founding member of Indian Cruise Line Association. He has experience in Over 3 years of experience in the steel processing, distribution and cruise line and shipping, hospitality, resort and tourism industry. manufacturing of automobile steel sector. He holds a master’s degrees in Previously associated with Zen Cruises Private Limited, Vidanta Grupo, science in defence studies, as well as in philosophy in defence [Showing first 8,000 characters — download PDF for full document]