Investor Presentation

29th October 2026 Listing Department Listing Department The National Stock Exchange of India Limited BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai 400051 Mumbai 400 001 Symbol: TRENT Scrip Code: 500251 Sub: Investors’ Presentation on Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half-year ended 30th September 2026 Dear Sir / Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, we enclose herewith Investors’ Presentation on the Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half-year ended 30th September 2026. Thanking you, Yours faithfully, For Trent Limited Krupa Anandpara Company Secretary Membership No.: A16536 Encl.: As above Investor Presentation | Performance Highlights Q2 FY27 DISCLAIMER Statements in this Presentation describing the Company’s performance may be “forward looking Statements” within the meaning of applicable securities laws and regulation. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand / supply and price conditions in the domestic markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and / or other incidental factors Trent Limited – Investor Presentation Q2FY27 TRENT’S JOURNEY Conceived 2025 1998 2014 2023 1998 2016 2024 Trent Limited – Investor Presentation Q2FY27 TRENT AT A GLANCE ₹ 5,788 Cr Q2FY27 Revenue from operations 1,342 Store count City Presence Includes 3 cities in UAE 18.57 Mn Retail Area (sq. ft.) Note: Data as of 30th September 2026 Trent Limited – Investor Presentation Q2FY27 Q2FY27 HIGHLIGHTS 5,788 791 669 490 23% 37% 35% 9% ₹ Cr ₹ Cr ₹ Cr ₹ Cr Standalone Revenue from Op. EBITDA Op. EBIT PAT operations 5,873 785 653 468 22% 37% 33% 25% ₹ Cr ₹ Cr ₹ Cr ₹ Cr Consolidated Revenue from Op. EBITDA Op. EBIT PAT operations (incl. share from JVs & Assoc.) (incl. share from JVs & Assoc.) Trent Limited – Investor Presentation Q2FY27 Note: Numbers and % are rounded off TRENDS – LAST 5 COMPARATIVE PERIODS Rs. in crs. Revenue from operations Op. EBIT PAT Op. EBIT Margin PAT Margin 7% 10% 11% 11% 12% 10% 10% 10% 10% 8% 5,788 700 669 4,724 4,036 497 451 500 454 423 2,891 283 300 1,814 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 FY23 FY24 FY25 FY26 FY27 FY23 FY24 FY25 FY26 FY27 FY23 FY24 FY25 FY26 FY27 Note: Numbers and % are rounded off Trent Limited – Investor Presentation Q2FY27 Store count Westside Zudio (Count includes Zudio stores operated in Star and stores in UAE) 11 41 H1 H1 FY27 FY27 11 36 10 19 Q2 Q2 FY27 FY27 10 17 1 22 Q1 Q1 FY27 FY27 1 19 Trent Limited – Investor Presentation Q2FY27 7 Gross Added Net Added RESULTS CONTEXT ❖ Market context: ─ Our concepts registered healthy traction, especially seen in the context of the shift of the festive window this year. The consumer sentiment was broadly positive and resonated well across our product offerings, brands and categories. ─ Structurally the outlook for organised fashion retail remains encouraging, supported by formalisation, higher consumer aspirations, and increased consumption propensity. Our experience in non-Metro / Tier 1 towns also resonates with these trends. ─ The inflation levels across line items remains elevated. The volatile geopolitical circumstances, interest rate trends and supply-chain disruptions continue to contribute to this playout. Our endeavour has been to maintain relative stability of the value proposition for our customers. Our sourcing actions and broader supplier engagements continue to help us navigate these inflationary headwinds. ❖ Growth agenda: ─ During the quarter we opened the 1000th Zudio Store. We now operate a significant portfolio of over 1300 “large-box” fashion stores, with presence across 339 cities (including 3 in the UAE). In Q2FY27 we opened 10 Westside and 19 Zudio stores and consolidated 2 Zudio stores. As of 30th September 2026, our store portfolio included 311 Westside, 999 Zudio (including 7 stores in the UAE) and 32 stores across other lifestyle concepts and we operated with a footprint of over 18.5 million sqft. across our fashion brands. ─ On an annual basis we expect the trajectory of new store openings to remain broadly consistent. Quarterly store openings are inherently asymmetric given the complexities around property development, fitout timelines & regulatory approvals. ─ Our store portfolio remains heterogeneous across markets and maturity cohorts. We continue to deepen our presence in select existing catchments while expanding into secondary cities and emerging micro-markets. Approximately 85% of Zudio stores opened during the quarter were in peripheral growth markets or in Tier II cities & beyond. ─ Greater cluster density, coupled with an improving customer proposition, is delivering encouraging revenue throughput and profitability outcomes. Newer and secondary markets offer attractive growth potential despite relatively longer maturity profile and hence, these stores are not entirely comparable with those of the established portfolio. Trent Limited – Investor Presentation Q2FY27 RESULTS CONTEXT ❖ Growth agenda (contd.) : ─ In managing our store network, we consistently seek to optimise the quality of brand presence in micro-markets and the economic attractiveness of the portfolio in terms of profitability, return on invested capital & operating cashflows. ─ Like-for-like growth for our fashion portfolio in Q2FY27 was in the mid-single digits. The emerging categories, including beauty & personal care, innerwear and footwear contributed over 21% of our revenues. Westside online together with our proposition on the Tata Neu platform continues to witness interesting traction and grow profitably. In H1FY27, online revenues grew by 20% and contributed to over 6% of Westside revenues. ─ Our newer brands (Burnt Toast and Samoh), emerging categories and new geographies including Zudio in the Middle East market are at varying stages of evolution. We are generally encouraged by the positive traction, improving viability and the exciting growth possibilities afforded by these initiatives. ─ Competitive context: Given the size and attractiveness of the fashion/ lifestyle market in India, the competitive intensity has been high over the past few years, with no material recent shift. The competitive landscape remains asymmetrical due to varying scale, size and distribution channels across brands and players. Our model involving a portfolio of own brands and direct-to-consumer distribution, affords us the ability to integrally differentiate the customer value proposition. We remain focused on strengthening our core to drive efficiencies, enhancing our product proposition, on-trend fashion and driving premiumisation by way of desirable products, convenience and predictable experience. Over time, we seek to build upon and deepen our competitive moat by growing the relevance of our brands across target audiences and all markets. ─ Star, our food and grocery business, has been witnessing encouraging consumer traction notwithstanding the evolving competitive landscape. Star revenues grew by over 20% during the quarter. The sales mix continues to favour own brands and increasingly delivers a viable economic profile at the store level. We added 1 new store during the quarter across the Star portfolio taking the overall store count to 87 across 13 cities. We remain excited about the potential of this business. Trent Limited – Investor Presentation Q2FY27 RESULTS CONTEXT ❖ Operating economics: ─ Other income for the previous year includes pre-tax profit on sale of assets of Rs. 96 cr in Q2FY26 and Rs. 109 cr in [Showing first 8,000 characters — download PDF for full document]