Analysts/Institutional Investor Meet/Con. Call Updates

www.stl.tech October 27, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No. C-1, G Block, Dalal Street, Bandra Kurla Complex, Bandra (East) Mumbai - 400 001. Mumbai - 400 051 Scrip ID - STLTECH Scrip Code - 532374 Sub.: TRANSCRIPT OF EARNINGS CALL - FINANCIAL RESULTS Q2FY27 Dear Sir/Madam, In furtherance of our letter dated October 06, 2026, please find enclosed transcript of earnings call held on October 23, 2026 in respect of Company’s Q2FY27 financial results. The same is also being hosted on the website of the Company and is available under the tab ‘FINANCIAL RESULTS- INVESTOR EARNINGS TRANSCRIPT’ at: https://stl.tech/wp-content/uploads/2026/10/Investor- Earnings-Transcript.pdf. Kindly take this on record. Thanking you. Yours faithfully, For Sterlite Technologies Limited Mrunal Asawadekar Company Secretary & Compliance Officer Membership No.: A 24346 Encl.: As above. Sterlite Technologies Limited R egistered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 “Sterlite Technologies Limited Q2 FY27 Earnings Conference Call” October 23, 2026 MANAGEMENT: MR. ANKIT AGARWAL – MANAGING DIRECTOR – STERLITE TECHNOLOGIES LIMITED MR. AJAY JHANJHARI – CHIEF FINANCIAL OFFICER – STERLITE TECHNOLOGIES LIMITED MR. RAHUL DARAK – HEAD OF INVESTOR RELATIONS – STERLITE TECHNOLOGIES LIMITED Page 1 of 16 Sterlite Technologies Limited October 23, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Sterlite Technologies Limited Q2 FY '27 Earnings Conference Call. As a reminder, all participant lines will be in a 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Rahul Darak, Head of Investor Relations. Thank you, and over to you, sir. Rahul Darak: Thank you, Steve. Good day, everyone, and welcome to STL's Q2 and H1 FY '27 Earnings Call. To take us through the results and answer your questions today, we have with us STL's senior management represented by Mr. Ankit Agarwal, our Managing Director; and Mr. Ajay Jhanjhari, Chief Financial Officer. Before we proceed with the call, let me remind you that the discussion today may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future results, performance or achievement to differ significantly from what is expressed or implied in such forward-looking statements. Please note, this also applies to the Lakshya targets that will be discussed on today's call. And we have also uploaded results and earnings call presentation on the STL's website and same is also available on the stock exchanges. We will begin today's call with a brief overview of our performance for the quarter and the first half of the financial year followed by a brief Q&A session. And with that said, I now hand over the call to our Managing Director, Mr. Ankit Agarwal. Ankit Agarwal: Thank you, Rahul. Good day, everyone. I'll begin by highlighting a few key takeaways from my investor presentation, and Ajay, our CFO, will then walk you through the financials. STL is a global leader in Digital Connectivity Infrastructure, serving data centers, telcos, citizen networks and large enterprises. Our optical connectivity portfolio spans fiber-to-fiber cables, speciality cables, connectivity solutions. We are also India's number 1 end-to-end optical manufacturer with about 9% global optical fiber cable market share outside China. With 35-plus years of leadership and more than 805 global patents filed and granted and 10-plus advanced manufacturing facilities with 0 waste to landfill and 0 liquid discharge, STL is leading the next wave of the global digital infrastructure buildup. We're amongst the few companies in the world with presence across the value chain from Glass to Gigabit, starting with the purest grade of Silicon, which we transform through advanced processes, like silicon tetrachloride formation, chemical vapor deposition and high-precision sintering, we create ultra pure glass preforms, which is the backbone of optical fiber. From there, we draw the highest grade fiber, design high-density cables and develop reliable connectivity products that power data centers and telecom networks worldwide. This full stack Page 2 of 16 Sterlite Technologies Limited October 23, 2026 integration right from the raw materials to network deployment gives STL a unique edge in quality, cost efficiency and innovation across the connectivity value chain. This deep integration also gives one of the most complete portfolios across the industry from specialty and next-generation fibers to high-density cables to plug-and-play connectivity for fiber-to-the-home and AI data center architecture. Back in September, we laid out Lakshya, our growth road map for FY '29 with the ambition of becoming the top 5 global connectivity players and reach INR20,000 crores in revenue. In FY '27, the first year of Lakshya, we are putting this plan into motion across 5 clear execution priorities. On the market side, we are actively shifting our revenue mix towards high value-added integrated connectivity solutions, are rapidly scaling our footprint in data center segment. To maintain our product edge, we are committing 2% of our annual revenue into R&D for next- generation optical platforms. At the same time, we are driving margin expansion by staying relentlessly focused on cost efficiencies and delivering stronger value to our customers. Finally, to power this entire growth cycle, we're expanding our preform fiber and cable capacities by 50% and building a new greenfield facility for pre-term related-solutions. All of this is backed by an annual capex commitment of around INR1,000 crores per year through FY '29. As you all know, currently, we are at the intersection of 3 powerful multi-year investment cycles, data centers, 5G and 6G networks and fiber to the x. Over the last few quarters, each of these cycles has only become stronger. Data center remains the fastest-growing driver for optical fiber demand. CRU recently upgraded its 2026 demand projections for this segment to 89% year-on-year, up sharply from 63% last quarter. This is underscored by acceleration of investments for hyperscalers and neo clouds. With Morgan Stanley revising its 2026 forecast upward from $805 billion to $978 billion and projecting a $1.5 trillion of investment in 2027. Our mobile networks, 5G adoption continues to scale rapidly with global 5G subscriptions projected to reach 6.4 billion by 2031, and India alone accounting of 1 billion in the same time frame. On top of this 5G expansion, global 6G subscriptions are forecast to cross 180 million by the end of 2031. Looking at FTTx deployment -- looking at FTTx deployments accelerating worldwide, expanding from 157 million fiber kilometers in 2025 to roughly 166 million fiber kilometers by 2030. In the U.S. alone, more than 140 million new homes will be connected with fiber by 2030, backed by massive government initiatives like BEAD in the U.S. and BharatNet in India. Together, these 3 converging cycles create a structured long-term demand tailwind for optical fiber and connectivity positioning STL right at the center of the world's next digital infrastructure build-out. Moving on. Slide 10 delves into how the AI revolution and rapid data center expansion are creating a once-in-a-generation opportunity for optical connectivity. Global data center capacity Page 3 of 16 Sterlite Technologies Limited October 23, 2026 is expected to grow from about 82 gigawatts to about 219 gigawatts by 2030, with over 70% of the [Showing first 8,000 characters — download PDF for full document]