Press release for unaudited financial results for the quarter and half year ended September 30, 2026

a itA�/s'U.; group company October 21, 2026 To, To, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, 5th Floor, Mumbai 400 001 Bandra-Kurla Complex, Bandra (E), Scrip code: 533257 Mumbai 400 051 Symbol: WAAREEINDO ISIN:INE866K01023 Subject: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 — Press Release. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we are enclosing herewith the Press Release on standalone unaudited financial results of the Company for the quarter and half year ended on September 30, 2026. The above information is also available on the website of the Company i.e. www.indosolar.co.in Kindly take the same on record. For, Indosolar Limited Akalpita Harnish Patel Company Secretary and Compliance Officer A40528 Encl:A/a Indosolar Limited Registered Office: Unit No. 301, 3rd floor, Building 02, Southern Park, Saket, New Delhi-110017. Tel : +91-120-4762500 Factory: 3C/1eco Tech -11, Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India | CIN: L18101DL2005PLC134879 {'.'.UR a WAAREE group company PRESS RELEASE Mumbai, 21 October 2026 Revenue from Operations for the quarter stood at ₹ 155.59 Crores Operating EBITDA for the quarter stood at ₹ 14.82 Crores PAT for the quarter stood at ₹ 5.02 Crores (₹ in Crores) YoY YoY Particular Q2 FY27 Q2 FY26 H1 FY27 H1 FY26 Change Change Revenue from Operations 155.59 202.55 -23.19% 223.95 397.22 -43.62% Operating EBITDA 14.82 70.73 -79.05% 63.28 134.29 -52.88% EBITDA Margin 9.52% 34.92% 28.26% 33.81% PAT 5.02 46.34 -89.17% 41.64 163.13 -74.48% PAT Margin 3.19% 22.88% 17.80% 40.93% Key Performance Highlight Q2 FY27 • Revenue from operations stood at Rs. 155.59 crores in Q2FY27 compared to Rs. 202.55 crores in Q2FY26 • Operating EBITDA stood at Rs. 14.82 crores in Q2FY27 compared to Rs. 70.73 crores in Q2FY26 • PAT stood at Rs. 5.02 crores in Q2FY27 as compared to Rs. 46.34 crores in Q2FY26 • Module production stood at 148 MW in Q2FY27 as compared to 244 MW in Q2FY26 • Module sold stood at 98 MW in Q2FY27 as compared to 249 MW in Q2FY26 • The performance comes against the backdrop of an evolving regulatory landscape, geopolitical uncertainty, elevated raw material costs and lower capacity utilisation across the solar manufacturing industry, along with the Company’s strategic transition of a major share of its volumes from tolling to owned manufacturing Commenting on the results Mr. Jignesh Rathod, Director and Chief Executive Officer said: "The solar manufacturing industry is undergoing an important phase of transformation, driven by evolving regulatory requirements, changing global supply-chain dynamics and India's increasing focus on domestic manufacturing. While the current operating environment presents near-term challenges, we remain focused on strengthening our manufacturing capabilities, improving operational efficiencies and positioning the business for long-term growth. Our priority remains to navigate the current industry transition with operational discipline while building a more efficient and future-ready manufacturing platform that can contribute to India's clean energy ambitions. The proposed amalgamation with Waaree Energies marks an important strategic milestone in this journey. We believe that closer integration with Waaree's manufacturing ecosystem can create meaningful operational synergies, enhance competitiveness and establish a stronger foundation for sustainable growth.” About Indosolar Limited Indosolar Limited having capacity of 1.3 GW module manufacturing through its facility situated at Noida, is a subsidiary of Waaree Energies Limited, India’s largest solar module manufacturer. For further information, please connect with us: Company: Indosolar Limited a �AAf,£E group company Mr. Varun Goenka/ Mr. Rohit Wade President (Strategy & Growth)/ GM-Investor Relation Email: investorrelations@waaree.com Safe Harbour This document is to provide the general background information about the Company’s activities as at the date of the release. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information contained herein. This release may include certain forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as ''expects", "plans", 'will", "estimates", "projects", or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements. Given these risks, uncertainties and other factors, viewers of this release are cautioned not to place undue reliance on these forward-looking statements. This release may contain certain currency exchange rates and the same have been provided only for the convenience of reader