Investor Presentation on Financial Results of the Company for Q2 & H1FY27

October 26, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 543904 Symbol: MANKIND Dear Sir/ Madam, Subject: Investor Presentation Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Please find enclosed herewith the investor presentation on financial results of the Company for Q2 & H1 FY27. The presentation is also being uploaded on the website of the company i.e. www.mankindpharma.com. You are requested to kindly take the above information on your records. Thanking You, Yours Faithfully, For Mankind Pharma Limited Hitesh Kumar Jain Company Secretary & Compliance Officer Encl.: A/a Q2 & H1FY27 October 2026 Index 03 Additional Information • Mankind Pharma at a Glance (FY26) • Key Milestones • Expansion in Specialty and Super Specialty Segments 01 Financial Performance • Financials - Steady Growth Trajectory • Key Financials – Q2 FY27 • Shareholding Pattern • P & L Highlights – Q2 & H1 FY27 • Annexures • Key Financial Metrics – Q2 FY27 • Q2 & H1 FY27 Earnings Call Details 02 Business Updates – Q2 FY27 • Domestic Business (ex-CH) • Consumer Healthcare Business (CH) • Export Business • ESG Updates Mr. Rajeev Juneja Vice Chairman & Managing Director Segmental Revenue Break - Up • Revenue grew ~17% YoY with EBITDA margins improving by 210 bps to 27.1% • Strong domestic business3 growth of 15.9% led by 1.2x volume outperformance to IPM, further supported by: 16% 6%  Mid-teen growth in Mankind Domestic with 1.1x Chronic outperformance4, led by growth of 19% in Cardiac and 16% in Diabetes  Acute outperformance of 1.1x, led by 19% growth in Gastro, 26% in VMN 3,657  Steady double digit growth in BSV domestic specialty business 4,338 94% • International business grew 33%, while OTC witnessed muted growth in Q2 84% • Our disciplined execution and strengthening business fundamentals resulted Domestic Business (Ex CH) in strong performance. Our recent acquisition of Armed Cell Therapeutics, Consumer Healthcare (CH) Domestic Exports marks strategic entry into Next-Generation CAR-T therapies, strengthening R&D capabilities for future growth. 1. On TTM Basis, Adj. ROCE excludes BSV Acquisition || 2. Calculated on TTM EBITDA adjusted with one time impact of labourcode regulations and other non-recurring cost || 3. Domestic Business excluding Consumer Healthcare –reported || 4. Ex-Tirzepatide 4 YoY QoQ YoY INR Cr Q2 FY27 Q2FY26 Q1FY27 H1 FY27 H1 FY26 Growth Growth Growth Revenue from Operations 4,338 3,697 17.3% 4,031 7.6% 8,368 7,268 15.1% (A=B+C) Domestic Business (B) 3,657 3,184 14.8% 3,426 6.7% 7,082 6,285 12.7% i. Domestic Business (ex CH) 3,428 2,958 15.9% 3,180 7.8% 6,608 5,822 13.5% ii. Consumer Healthcare (CH) 229 226 1.2% 246 (7.0%) 475 463 2.6% Exports Business (C) 681 513 32.7% 605 12.6% 1,286 982 31.0% Gross Profit 3,134 2,635 18.9% 2,932 6.9% 6,066 5,152 17.7% EBITDA 1,175 924 27.2% 1,060 10.8% 2,235 1,774 26.0% Profit After Tax 716 520 37.7% 574 24.7% 1,290 965 33.7% Diluted EPS1 (INR) 17.2 12.4 38.9% 13.7 25.2% 30.9 23.0 34.6% Cash EPS1 (INR) 22.9 17.7 29.1% 19.2 19.3% 42.1 33.6 25.1% Gross Margins % 72.2% 71.3% 90 bps 72.8% 60 bps 72.5% 70.9% 160 bps EBITDA Margins % 27.1% 25.0% 210 bps 26.3% 80 bps 26.7% 24.4% 230 bps PAT Margins % 16.5% 14.1% 240 bps 14.2% 230 bps 15.4% 13.3% 210 bps 1. Diluted EPS and Cash EPS not annualised 5 Cash Flow from Operations (INR Cr) CAPEX (INR Cr) ROCE2 EC BF IO TD to A 80% 89% 92% 81% CA oP fE RX e a vs % 4.3% 5.2% 4.0% 4.9% With BSV With BSV With BSV With BSV Acquisition Acquisition Acquisition Acquisition 723 263 45% 40% 41% 41% 814 761 187 460 797 797 1,002 91 214 593 128 163 163 840 840 817 198 546 125 127 127 11%* 12% 11%* 14%* FY25 FY26 H1FY26 H1FY27 FY25 FY26 H1FY26 H1FY27 Mar31, Mar31, Sept30, Sept30, Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2025 2026 2025 2026 Net Cash / (Net Debt) (INR Cr) Net Operating Working Capital Days2 Net-Debt 1.4x 1.3x 1.1x 0.9x 0.6x With BSV With BSV With BSV With BSV to EBITDA3 Acquisition Acquisition Acquisition Acquisition 50* 52 46* 51* (2,639) 45 43 45 43 (3,377) (3,932) (4,294) (4,791) Mar31, Mar31, Sept30, Sept30, Sep30, Dec31, Mar31 Jun30, Sept30, 2025 2026 2025 2026 2025 2025 2026 2026 2026 1.Above FY25 P&L items are for continuing operations only || 2. On TTM Basis || 3. calculated on Adj. EBITDA basis | *Includes BSV from 23-Oct-2024 || Refer Annexure for Formulas 6 Strong Growth in Domestic (ex-CH) Revenue1 INR Cr 11,338 9,866 8,741 3,428 2,958 FY24 FY25 FY26 Q2FY26 Q2FY27 Domestic revenue (ex- CH) increased 15.9% YoY driven by strong double digit growth in both Mankind and BSV specialty business Secondary sales2 growth of 15.7% vs 14.2% IPM4 in Q2FY27 indicating a 1.1x outperformance to IPM led by  1.1x outperformance in chronic3 growth supported by 18.7% in Cardiac and 15.8% in Anti-Diabetes  1.1x outperformance in acute driven by Gastro (1.3x), VMN (1.4x); Anti-infectives also recovering QoQ (5.4% in Q2FY27 vs 3.6% in Q1FY27) Strong growth in key focused brands3:  Acute brandslike Pantakind (31%), Dydroboon (19%), Cefakind-CV (18%), Nurokind-LC (18%) in Q2FY27  Chronic brands like Pangraf (60%), Placida (28%), Telmikind-AM (16%), Glizid-M (15%)  Healthy growth in BSVs key brands - Humog (51%), Lonopin (45%), Anti-D (37%) and ASVS (45%)  Brands with sales above Rs 50 crore increased to 63 in MAT Sep’26 from 54 in FY26, while brands with sales over Rs 100 crore rose to 26 from 22 Consistently maintained #1 rank over last 9 years with prescription share of 15.2%and prescriber penetration of 84.4%in MAT Aug’26 1.Denotes Reported Number including BSV w.e.f23-Oct-2024 || 2.As per IQVIA Sep 2026 || 3. Ex-Tirzepatide Consistent focus to increase chronic contribution Overall Chronic Growth 1.3x 1.2x 1.1x2 1.4x2 1.1x2 40.4 39.8 17.9 17.2 39.0 39.0 38.3 36.6 40.12 38.5 38.52 36.6 39.02 37.4 12.7 11.8 13.7 13.4 11.8 14.3 16.12 9.7 9.9 12.42 35.2 10.52 FY24 FY25 FY26 Q2 FY263 Q2 FY27 FY24 FY25 FY26 Q2FY26 Q2FY27 IPM Chronic Share % Mankind Chronic Share % IPM Chronic Growth % Mankind Chronic Growth % Mankind Consolidated Chronic Share 1.1x outperformance to IPM both in Cardiac and Anti-Diabetic2 respectively in Q2FY27 1.9x outperformance to IPM in Respiratory Chronic in Q2FY27 40.4 39.8 39.0 39.0 Consistent outperformance across key portfolio supported by 38.3 40.12 37.0 39.02 key brands – 38.52 35.9 35.4 35.2  15% growth in Telmikind family; 47% / 34% in Lipirose / 34.0 Statpure in Cardiac  Glizid brand family grew 19% YoY, and Nobeglar (Insulin) grew by 58% in Anti-Diabetes FY24 FY25 FY26 Q2FY263 Q2FY27  21% combined YoY growth in inhaler (Combihale & IPM Chronic Share % Mankind Chronic Share % Symbicort) As per IQVIA SEP-26 || 1. Mankind excluding BSV || 2. Ex-Tirzepatide|| 3. Restated data excluding discontinued brands 9 Brand Families Sales CAGR FY 21 FY 26 MAT Sep’26 Sales (FY21-26) > INR 500 Crore 0 3 3 14.4% > INR 200 Crore 7 13 14 12.8% > INR 100 Crore 15 22 26 12.3% > INR 50 Crore 36 54 63 11.2% Key new launches gaining strong traction - Vonalong, Empagreat, Dynaduo, Nurokind HS PFS and Pantakind Raft As per IQVIASep-26 Including BSV 10 High Ranks across Acute and Chronic Areas FY26 - Sales Mix representing Diversified Therapy Presence Rank in CVM MS% FY 21-26 CAGR Key Therapy Areas (FY26) (FY26) 2% 11% Mankind1 IPM 17% Cardiovascular Anti-Infectives Chronic therapies 3 4.3% 14.3% 11.4% 4% Gynaecology Gastro Intestinal Cardiovascular 4 5.5% 17.3% 11.1% 4% Anti Diabetic VMN Anti Diabetic 4 4.5% 12.1% 8.2% Respiratory Urology Acute therapies 2 5.0% 11.4% 9.6% 5% Dermatology Pain / Analgesics Anti-Infectives 5 6.0% 12.2% 10.3% 6% Neuro / CNS Others Gynaecology 1 10.3% 23.2% 10.1% Gastro Int 6 4.3% 8.7% 10.5% Respiratory 6 4.5% 13.9% 12.7% VMN 2 5.1% 7.8% 9.1% 9% Overall 2 4.7% 12.4% 10.3% Q2 FY27 – Key Therapies Performance 25.7% 18.7% 19. 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