General Updates

October 29, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai - 400 051, Maharashtra. Dalal Street, Mumbai – 400 001, Maharashtra. Symbol: STAR Scrip Code: 532531 Dear Madam/ Sir, Sub: Earnings Presentation for the quarter and half year ended September 30, 2026 Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) We are pleased to enclose the Earnings Presentation for the quarter and half year ended September 30, 2026. The Board Meeting for considering the unaudited financial results for the quarter and half year ended September 30, 2026 commenced at 16:45 hrs IST and concluded at 18:15 hrs IST. The above information shall be made available on the website of the Company at www.strides.com. This is for your information and records. Thanks & Regards, For Strides Pharma Science Limited, Manjula Ramamurthy Company Secretary & Compliance Officer ICSI Membership No.: A30515 Encl. as above Strides Pharma Science Limited CIN: L24230MH1990PLC057062 Corp. Off: Strides House, Bilekahalli, Bannerghatta Road, Bengaluru – 560 076, India |Tel: +91 80 6784 0000 Regd. Off: ‘Cyber One’, Unit No. 902, Plot No. 4&6, Sector 30A, Vashi, Navi Mumbai – 400 703, India | Tel: +91 22 2789 2924/3199 corpcomm@strides.com; www.strides.com Q2 & H1FY27 Earnings Presentation October 29, 2026 Strides Pharma Science Limited Health where it matters Safe Harbor Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "likely", "project", "should", "potential", "will pursue", and similar expressions of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Health where it matters 2 Strides Delivers a Strong Performance with Revenue at ₹14,297m, Grew ~17% YoY; Ex-US Markets Grew 31% YoY EBITDA Grew 8% YoY to ₹2,509m, Despite increase in input material and freight cost due to geopolitical disruptions. Operational PAT at ₹1,358m with Operational EPS at ₹14.7; Reported PAT at ₹1,341m Performance Highlights Q2FY27 Q2FY26 YoY change Badree Komandur MD and Group CEO Strides delivered a strong second quarter, with revenue of ₹14,297m growing Revenue (₹m) 14,297 12,208 ▲17.1% ~17% YoY, driven by Ex-US Markets. Our diversification strategy continues to play out, with Ex-US Markets growing 31% YoY to ₹6,963m and, for the first time, Gross margin (₹m) 8,003 7,056 ▲13.4% surpassing our US business in quarterly revenue. Our US business delivered 9% YoY growth. Gross margin (%) 56.0% 57.8% EBITDA grew to ₹2,509m, crossing the ₹2,500m mark in a quarter for the first time. This was despite higher raw material, freight and operating costs arising from geopolitical disruptions. We remain focused on mitigating these pressures EBITDA (₹m) 2,509 2,316 ▲8.4% through continuous cost optimization initiatives during the year. Net Debt increased by ₹2,114m during H1 due to an elongated cash-to-cash cycle EBITDA margin (%) 17.6% 19.0% and higher inventory holding to navigate current market conditions. We expect the Net Debt to EBITDA ratio to stabilize by the end of the year. Operational PAT (₹m) 1,358 1,218* ▲11.5% We are also pleased to welcome Mr. Biren Gabhawala to our Board as an Independent Director. His deep expertise in financial reporting, audit and corporate governance will further strengthen the Board’s oversight. Operational EPS (₹) 14.7 13.2* While the external environment remains dynamic, we are committed to delivering sustainable and profitable growth. Reported PAT (₹m) 1,341 1,315 ▲2.0% * Excluding one-time finance income of ₹185m in Q2FY26; on a reported basis, Operational EPS is down 3.2% YoY Operational PAT = Reported PAT excluding exceptional items Health where it matters 3 H1FY27 Performance: Revenue at ₹26,951m, Grew 15% YoY EBITDA Grew 7% YoY to ₹4,807m; Operational PAT at ₹2,589m with Operational EPS at ₹28.1; Reported PAT at ₹2,996m H1FY27 Performance Performance Highlights H1FY27 H1FY26 YoY change Revenue (₹m) 26,951 23,406 ▲15.1% Revenue grew 15% YoY to ₹26,951m driven by Ex-US Markets Gross margin (₹m) 15,705 13,810 ▲13.7% Ex-US Markets grew 24% YoY to ₹12,838m Gross margin (%) 58.3% 59.0% Margins were impacted due to higher material and logistics costs EBITDA (₹m) 4,807 4,496 ▲6.9% EBITDA grew 7% YoY to ₹4,807m EBITDA margin (%) 17.8% 19.2% Operational PAT grew 9.8% YoY to ₹2,589m; Operational EPS at ₹28.1 Operational PAT (₹m) 2,589 2,358* ▲9.8% Operational EPS (₹) 28.1 25.6* Reported PAT (₹m) 2,996 2,371 ▲26.4% *H1FY26 Operational PAT and EPS exclude one-time finance income of ₹185m; on a reported basis, Operational PAT is up 1.8% and Operational EPS up 1.8% YoY. Operational PAT = Reported PAT excluding exceptional items Health where it matters 4 Predictable Growth Across Key Metrics Over the Last 10 Quarters Steady Compounding in Last 10 Quarters Total Revenue (₹m) EBITDA (₹m) Operational PAT (₹m) 3 9 7 4 7 8 6 5 4 7 4 6 3 0 9 0 4 3 5 9 0 6 3 9 1 6 9 7 8 9 0 0 8 2 7 1 8 5 ,0 1 6 ,1 1 5 ,1 1 9 ,1 1 1 ,1 1 2 ,2 1 9 ,1 1 2 ,3 1 6 ,2 1 2 ,4 1 0 9 ,1 4 8 ,1 0 1 ,2 7 1 ,2 8 1 ,2 1 3 ,2 5 3 ,2 9 3 ,2 9 2 ,2 0 5 ,2 1 3 6 1 6 7 5 2 9 3 1 ,1 4 1 ,1 1 2 ,1 8 2 ,1 5 3 ,1 3 2 ,1 5 3 ,1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2* Q3 Q4 Q1 Q2 FY25 FY26 FY27 FY25 FY26 FY27 FY25 FY26 FY27 +36% +32% 2.2x Q2FY27 vs Q1FY25 Q2FY27 vs Q1FY25 Q2FY27 vs Q1FY25 ~14% CAGR annualised, 9 quarters ~13% CAGR annualised, 9 quarters ~41% CAGR annualised, 9 quarters *Q2FY26 Operational PAT excludes one-time finance income of ₹185m; Operational PAT = Reported PAT excluding exceptional items Health where it matters 5 Ex-US Growth Accelerates Diversification: Surpasses US Revenue for the First Time in Q2FY27 Revenue Mix – H1 (%) US (₹m) Ex-US (₹m) Access* (₹m) +7% YoY +24% YoY +30% YoY Access Market Ex-US US 53% 49% 5 7 7 8 2 3 2 3 3 ,2 1 ,3 3 ,0 8 ,2 4 5 6 7 1 1 1 1 7 9 3% 3% H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Revenue Mix – Q2 (%) US (₹m) Ex-US (₹m) Access* (₹m) +9% YoY +31% YoY -21% YoY Access Market Ex-US US 52% 48% 9 5 0 3 6 4 8 2 5 8 1 3 6 9 ₹ ₹ ,6 ,6 ,5 ,6 5% 3% ₹ ₹ ₹ ₹ Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 *Tactical Business Health where it matters 6 FY28 - $375m US Revenue Aspiration Update Health where it matters Growth Ambition Intact: US Revenue Aspiration of ~$375m shifts beyond FY28; Ex-US acceleration and disciplined US Investment underpin the next phase of profitable growth US Market | Timing changes Strategic Response Ex-US Markets | Accelerating 7% 24% Profitability-led growth Protect established profitability thresholds; YoY revenue growth in H1FY27 drive margin-accretive revenues. Maintain YoY revenue growth in H1FY27 selective launches, and expand differentiated Normalised market opportunities platforms Ex-US revenue as % of US (goal: 100% by FY28) Drug-shortage opportunities in oral solids 98% 102% have largely dissipated Rebalancing growth engines 76% Focusing on the Ex-US business to drive geogra [Showing first 8,000 characters — download PDF for full document]