Analysts/Institutional Investor Meet/Con. Call Updates

October 29, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scrip Code: 542066 Scrip Code: ATGL Sub: Transcript of Earnings Call pertaining to the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026 Dear Sir / Madam, In continuation to our intimation dated October 23, 2026, please find below web link of transcript of the Earnings Call on Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026 held on October 23, 2026. Web link to access above transcript is as under: https://www.adanigas.com/-/media/Project/AdaniGas/Investors/Financials/Earnings- Call-Transcript-and--Recordings/AdaniTotal-Earnings-Oct23-2026.pdf Copy of the said transcript is also attached herewith. Kindly take the same on your records. Thanking you, Yours faithfully, For Adani Total Gas Limited Anil Agrawal Company Secretary Encl: As above. Adani Total Gas Limited Tel : +91 79 6624 3200 (Formerly known as Adani Gas Ltd) Fax: +91 79 2754 2988 Crest 4-5, Inspire Business Park investor.agl@adani.com Shantigram, Nr. Vaishnodevi Circle, www.adanigas.com S.G.Highway, Ahmedabad – 382 421 Gujarat, India CIN: L40100GJ2005PLC046553 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421 “Adani Total Gas Limited Q2 FY '27 Earnings Conference Call” October 23, 2026 MANAGEMENT: MR. SANJAY PANDITA – CHIEF EXECUTIVE OFFICER – ADANI TOTAL GAS LIMITED Page 1 of 8 Adani Total Gas Limited October 23, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Adani Total Gas Limited Q2 FY '27 Earnings Conference Call. As a reminder, all participant lines will be in the 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. Sanjay Pandita, Chief Executive Officer from Adani Total Gas Limited. Thank you, and over to you, sir. Sanjay Pandita: Thank you, ma'am. Good morning, everyone. Good afternoon. A warm welcome to all our investors, analysts, fund representatives joining us today to discuss the results of Adani Total Gas Limited for the quarter and half year ended 30th September 2026. Let me take this opportunity to briefly share the current business operating environment. ATGL closed second quarter and half year with strong operational performance with Q2 FY '27 volumes growing 12% year-on-year to 315 MMSCM and EBITDA increasing 12% to INR340 crores. For half year ended 30th September 2026, volumes grew 13% to 618 MMSCM and EBITDA rose 3% to INR621 crores, reflecting a resilient execution despite a challenging global energy environment. Our growth continues to be supported by deeper market penetration and disciplined network expansion. In Q2 FY '27, CNG volume increased 17% year-on-year to 223 MMSCM while PNG volumes grew 3% to 92 MMSCM. Volume mix of new geographical areas improved to 41% from 35% in Q2 FY '26 on Y-o-Y basis. We added 16 new CNG stations during the quarter, taking the network to 723 CNG stations, connected 39,574 new household connections, taking PNG household connections to 11.81 lakhs, expanded our steel pipeline network to 16,305 inch- kilometers. We have seen a strong momentum in the industrial and commercial connections, added approximately 900 customers in H1 FY '27, taking that base to 10,864. That is approximately 1.4x the numbers added during the entire FY '26. Q2 FY '27 witnessed significant gas cost pressures with natural gas costs increasing 43% year-on-year amid higher Brent and LNG prices, currency depreciation and change in the domestic gas availability. Through portfolio diversification, agile sourcing and calibrated pricing, we navigated these pressures while delivering 12% year-on-year EBITDA growth. Our capital allocation remains disciplined and focused on strengthening the core CGD network while scaling adjacent clean energy businesses. During HY FY '27, we expanded the steel network by 732 inch-kilometers, added 21 CNG stations and connected 77,870 new households. In e-mobility, we have installed 5,513 EV charging points across 26 states and union territories, covering 225 cities with installed capacity of 63 megawatts. We continue balancing growth investments with financial discipline and long- term stakeholder value creation. Page 2 of 8 Adani Total Gas Limited October 23, 2026 Our performance demonstrates the resilience of our business model and strength of our execution. Q2 FY '27 revenue increased 34% year-on-year to INR2,102 crores. EBITDA rose 12% year-on-year to INR340 crores and PAT increased 3% year-on-year to INR167 crores. For H1 FY '27, revenue grew 31% to INR3,999 crores and EBITDA increased 3% to INR621 crores. Our sustainability performance also improved with NSE Sustainability and SES score reaching 75 out of 100, reinforcing our commitment to governance, transparency and responsible growth. Along with our joint venture partner, IOAGPL, our Pan-India network reaches 1,185 CNG stations, 14.31 lakh PNG household connections, 12,925 industrial and commercial connections, which are connected with a strong pipeline network of 29,156 inch-kilometer. We are complementing this scale through new clean energy business. The integrated approach positions us to support India's energy transition and create sustainable long-term value. ATGL's performance this quarter demonstrates the true resilience of our business model, even as we navigate an incredibly challenging global energy landscape where a 43% year-on-year surge in natural gas costs was driven by higher Brent crude, domestic gas availability shifts and withdrawal of pooled gas support, we did not just hold our ground, we accelerated. By leveraging diversified sourcing and flexible procurement, we achieved a stellar 12% year- on-year increase in quarterly volumes to 315 MMSCM and matching 12% increase in EBITDA to INR340 crores. We are successfully pivoting from traditional city gas distribution company into an integrated energy platform with 5,513 EV charging points active across 225 cities and rapidly growing footprint in cleaner fuels, we are proving that financial discipline, aggressive infrastructure expansion and India's green energy transition can go hand in hand. We remain deeply committed to deliver affordable, reliable and sustainable energy while creating secure long-term value for our shareholders, customers and communities. Thank you so much. Moderator: Thank you very much. The first question is from the line of Vivekanand Subbaraman from AMBIT Capital. Please go ahead. Vivekanand S.: Two questions. Number one is on the pricing front with respect to CNG. So what we see is that you have taken regular price hikes in important markets like Ahmedabad in June, July, August. Just to understand now from the perspective of pass-through of increased input costs to consumers, have you -- is that now taking care of your increased input costs such that you are back to the pre-war margin levels in markets where you have taken price hikes consistently till, let's say, August? Because here, the magnitude seems to be like around INR11, INR12 per kilogram. That is question one. Secondly, can you talk a little bit more about the sourcing and the gas availability, both domestic as well as your portfolio of contracts? And what is the current status there? Sanjay Pandita: Yes, sure. Thank you so much for your question. On this CNG price revisions, while we don't pass on the entire cost to customers, we do take a calibrated approach. Whenever there is any Page 3 of 8 Adani Total Gas Limited October 23, [Showing first 8,000 characters — download PDF for full document]