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 October 23, 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 – Q2 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 and half year ended September 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 Q2FY27 RESULTS UPDATE 23 OCTOBER 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, quarter ended June 30, 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 | 23 October 2026 | Q2FY27 Results Update | As per consolidated financial statements under IFRS Q2FY27 Financial Highlights Consistent double-digit base business^ growth, with EBITDA Margin @20.6% Reported Revenues 8,671 ₹ Cr 1.5% YoY 7% QoQ • Double-digit underlying base business^ YoY growth o Reported YoY growth declined 1.5% due to lower lenalidomide sales EBITDA | EBITDA % 1,783 ₹ Cr | 20.6% • Reported EBITDA @20.6% 24% YoY 77% QoQ • Annualised RoCE @9.5% PBT | PBT % • Net Cash surplus at ₹2,502 Cr 1,228 ₹ Cr | 14.2% Note: Q1FY27 impacted by provision of ₹240 Cr towards inventory and other costs related to semaglutide API issue 33% YoY 122% QoQ ^Excluding lenalidomide in North America *PAT | PAT % ₹ Cr | 10.7% 36% YoY 109% QoQ *Attributable to Equity shareholders 3 | 23 October 2026 | Q2FY27 Results Update | As per consolidated financial statements under IFRS Q2FY27 Business Highlights Steady progress across strategic priorities • Partnered with Takeda for India’s 1st Central Drugs Standard Control Organisation (CDSCO) approved dengue vaccine, QDENGA; to launch in private markets in H1 2027 • Expanded collaboration with Gilead Sciences for investigational once-yearly lenacapavir for HIV prevention in 120 countries • In association with GARDP Foundation, secured Thai FDA approval for zoliflodacin for uncomplicated urogenital gonorrhoea treatment within 6 months of USFDA approval • Secured approval for rituximab biosimilar from the USFDA • Launched nivolumab biosimilar in India • Generic semaglutide approved in 10 countries across Latin America, Africa & the Middle East, as well as Canada & India • CDMO business under Aurigene Pharmaceutical Services surpassed $100+ million in 12 months ended Sep’26 4 | 23 October 2026 | Q2FY27 Results Update | As per consolidated financial statements under IFRS Q2FY27 Other Highlights • ‘Silver’ medal by FinanceAsia in ‘Best Large Cap Company in India’ category at Asia’s Best Companies 2026 • Improved CRISIL ESG Rating to 73/100 for FY26 from 66/100 in FY25 - only pharma company in leadership category OTHER UPDATES • On track to resolve issue associated with semaglutide API, where certain batches were found to be out of specification • ‘VAI’ classification for API manufacturing facility in Mirfield, United Kingdom, following GMP inspection by USFDA in Sep’25 • Received a Form 483 with 3 and 4 observations respectively, following a PAI & GMP inspection at FTO-SEZ Process Unit-02, Srikakulam, Andhra Pradesh in Jul ’26 and a GMP inspection at formulations manufacturing facility, FTO-3, in Bachupally, Hyderabad in Aug’26; responded within stipulated timeline • Received a Form 2953 with 2 observations, following a records assessment under Section 704(a)(4) of the Federal Food, Drug, and Cosmetic Act at API manufacturing facility in Mexico between Jul and Sep’26; responded within stipulated timeline • Received a Form 483 with 2 & 3 observations respectively, following a PAI at formulation manufacturing facilities, FTO-11 in Pydibhimavaram, Andhra Pradesh & FTO-9 in Visakhapatnam, Andhra Pradesh in Oct’26; to respond within stipulated timeline 5 | 23 October 2026 | Q2FY27 Results Update | As per consolidated financial statements under IFRS Q2FY27 Revenue Split Double-digit base business* growth across key businesses, except Europe and API REVENUE BY SEGMENT GLOBAL GENERICS SPLIT North America Europe 2,489 1,393 GLOBAL GENERICS ₹ Cr ₹ Cr 23%YoY 13%QoQ 1%YoY 3%QoQ Overall 8,671 29% ₹ Cr 1.5% 7% YoY QoQ PSAI 9.5% 21% India OTHERS 1,851 0.5% ₹ Cr Global Generics PSAI 17%YoY 8%QoQ 7,793 831 ₹ Cr ₹ Cr 0.7%YoY 8%QoQ 12%YoY 2%QoQ Emerging Markets 2,059 ₹ Cr Branded businesses (India, Emerging Markets & NRT) account for 53% of revenues 24%YoY 12%QoQ *Excluding lenalidomide in North America 6 | 23 October 2026 | Q2FY27 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) Q2FY27 8,671 Q2FY27 52.1% Q2FY27 32.4% Q2FY27 6.0% Q2FY27 20.6% 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% *Excl. lenalidomide shelf stock adjustment (SSA), *49.4% excl. sema API related impact *Excl. VAT liability, 33.4% of revenues excl. SSA [Showing first 8,000 characters — download PDF for full document]