Please refer the attached letter.

Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 CIN No. : L17100MH1905PLC000200 October 30, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra East, Mumbai- 400 001 Mumbai- 400051 Security code: 503100 Symbol: PHOENIXLTD Dear Sir(s)/Madam(s), Sub: Investors’ Presentation on the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026 Further to our intimation dated October 26, 2026 and pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), we enclose herewith the presentation on the Unaudited Standalone and Consolidated Financial Results of The Phoenix Mills Limited (‘Company’) for the quarter and half year ended September 30, 2026, to be made to investors and analysts. The same is also being uploaded on the Company’s website at https://www.thephoenixmills.com/investors/FY2027/Investor-Presentation in compliance with Regulation 46(2) of the SEBI Listing Regulations. You are requested to take the aforesaid information on record. Thanking you, Yours Faithfully, For The Phoenix Mills Limited Bhavik Gala Company Secretary Membership No. F8671 Encl:- As below Regd. Office: The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9 Fax : (022) 2493 8388 E-mail : secretarial@phoenixmills.com www.thephoenixmills.com Photo shot at location Phoenix Avenue of Stars, Pune Earlier known as Phoenix MarketCity Pune THE PHOENIX MILLS LIMITED Built to Compound Investor Presentation Q2 & H1 FY27 A Diversified Real Estate Platform Built for Compounding R E T A I L O F F I C E S H O S P I T A L I T Y R E S I D E N T I A L >18 msft ~9 msft ~2,188 keys ~7 msft GLA by 2030 GLA by 2030 Operational by 2030 Cumulative Saleable Area by 2030 Operational: ~11 msft Operational: ~5 msft Operational: 2 hotels, ~588 keys Area launched: ~2.8 msft Operational across: Grade-A, campus-integrated Premium projects in Bengaluru The St. Regis, Mumbai, 12 malls | 8 Cities offices operational across One Bangalore West, Kessaku Courtyard by Marriott, Agra Mumbai, Pune, Bengaluru, Chennai From 1 Mall in 2005 to a Retail-led Mixed-use Portfolio Pan-India 26% EBITDA CAGR Over 20 Years: Compounding Through Cycles EBITDA (Rs. Cr) 2,637 CAGR FY06 FY13 FY18 FY26 Note: Above figures represent the Consolidated EBITDA of PML Group. Concept Architect India’s Best Retail Developer & Operator Consumption (Rs. Cr) Retail Rental (Rs. Cr) 16,587 2,157 CAGR CAGR 2,570 FY13 FY26 FY13 FY26 Concept Architect Q2 FY27 Consolidated Performance Overview Revenue EBITDA PAT Rs. 1,055 cr Rs. 669 cr Rs. 391 cr Annuity Businesses (Retail, Offices, Hotel and Asset Management) ↑ 16% vs Q2 FY26 ↑ 21% vs Q2 FY26 ↑ 31% vs Q2 FY26 Rs. 1,153 cr Rs. 710 cr Rs. 424 cr Consolidated Group Performance ↑ 3% vs Q2 FY26 ↑ 7% vs Q2 FY26 ↑ 11% vs Q2 FY26 H1 FY27 Consolidated Performance Overview Revenue EBITDA PAT Rs. 2,089 cr Rs. 1,318 cr Rs. 793 cr Annuity Businesses (Retail, Offices, Hotel and Asset Management) ↑ 16% vs H1 FY26 ↑ 20% vs H1 FY26 ↑ 31% vs H1 FY26 Rs. 2,228 cr Rs. 1,352 cr Rs. 818 cr Consolidated Group Performance ↑ 8% vs H1 FY26 ↑ 10% vs H1 FY26 ↑ 16% vs H1 FY26 Strong Cash Flows and Balance Sheet Provide Visibility for Next Growth Phase Operating Free Cash Flow (H1 FY27)1 Liquidity (as of 30-Sep-26)2,3 Rs. 1,215 cr Rs. 2,638 cr ↑ 22% YoY ↑ Rs. 634 cr vs March 2026 Gross Debt (as of 30-Sep-26)3 Net Debt (as of 30-Sep-26)3 Rs. 6,117 cr Rs. 3,479 cr ↑ Rs. 953 cr vs March 2026 ↑ Rs. 319 cr vs March 2026 Cost of Debt: 7.66% (spread of 241 bps over Repo) Net Debt/EBITDA4 at 1.2x as of Sep-26 vs. 1.2x as of Mar-26 Notes: 1. Refers to net cash flow from operating activities after taxes, adjusted for interest paid/received. 2. Does not include amount available in overdraft accounts. 3. Includes Associate companies, which do not form a part of PML Consolidated financial statements. 7 4. Net Debt to EBITDA is based on trailing 12-month EBITDA for H1 FY27 and full-year EBITDA for FY26. Net Debt and EBITDA both include associate companies, which are not part of PML Consolidated financial statements. Multiple Growth Levers Driving Earnings and Cash Flow Growth Embedded Growth in Densification & Portfolio Incremental Growth Operating Retail Portfolio Expansion Drivers • Rental uplift on existing malls • Densification of existing destinations • 100% Ownership of ISMDPL through strategic repositioning. and creation of integrated mixed-use Platform (4.4 msft retail, 2.2 msft campuses in Mumbai and Bengaluru. office, plus expansion). • Contractual lease expiries unlock • Development of New Retail repricing spreads across the • Additional cash flows from Destinations Kolkata, Surat, Thane, portfolio. Residential properties Chandigarh and Coimbatore. • Addition of Luxury & Flagship • Infrastructure-led Catchment Uplift • Office Portfolio Ramp-Up: Conversion Brands to drive further growth. of leased space into occupied, rent- paying premises. Our growth roadmap to 2030 is embedded within existing assets, land parcels and development rights already under our control. Photo shot at location Q2 and H1 FY27 Business wise Update Phoenix Mall of Asia, Bengaluru 9 Retail: Strong Performance Across Consumption, Rentals and EBITDA Q2 FY27 Q2 FY27 Retail Q2 FY27 Retail Consumption Rental Income Asset EBITDA Rs. 4,685 cr Rs. 605 cr Rs. 639 cr ↑ 25% vs Q2 FY26 ↑ 15% vs Q2 FY26 ↑ 18% vs Q2 FY26 H1 FY27 H1 FY27 Retail H1 FY27 Retail Consumption Rental Income Asset EBITDA Rs. 9,415 cr Rs. 1,200 cr Rs. 1,264 cr ↑ 28% vs H1 FY26 ↑ 16% vs H1 FY26 ↑ 17% vs H1 FY26 Concept Architect 1100 Q2 FY27 Retail Consumption up 25% with growth across all malls Q2 FY27 Consumption (Rs. Cr) Growth 17% 68% 19% 21% 16% 22% 18% 19% 25% 17% 25% 10% over FY26 363 355 69 63 Phoenix Phoenix Mall PMC Phoenix PMC & Phoenix Mall PMC Phoenix Palladium Phoenix PU Lucknow PU Bareilly Palladium of Asia Bangalore Avenue of Palladium of the Mumbai Palassio Ahmedabad Pride of Stars, Pune Chennai Millennium India, Indore • Total consumption in Q2 FY27 stood at Rs. 4,685 cr, demonstrating a YoY growth of 25% over Q2 FY26. Concept Architect Note: Above numbers are indicative and presented for illustration purpose. 1111 H1 FY27 Retail Consumption up 28% with growth across all malls H1 FY27 Consumption (Rs. Cr) Growth 21% 81% 20% 25% 17% 28% 21% 20% 26% 20% 21% 9% over 1,501 FY26 1,393 1,083 1,045 747 727 136 134 Phoenix Phoenix Mall PMC Phoenix PMC & Phoenix Mall PMC Phoenix Palladium Phoenix PU Lucknow PU Bareilly Palladium of Asia Bangalore Avenue of Palladium of the Mumbai Palassio Ahmedabad Pride of Stars, Pune Chennai Millennium India, Indore • Total consumption in H1 FY27 stood at Rs. 9,415 cr, demonstrating a YoY growth of 28% over H1 FY26. Concept Architect Note: Above numbers are indicative and presented for illustration purpose. 1122 Q2 FY27: Consumption Across the Entire Spectrum of Discretionary Wallet Spend Consumption Contribution Trading Area Mix YoY Consumption Growth Fashion & Accessories 51% 61% 22% Jewellery 15% 2% 28% Electronics 13% 3% 39% Food & Beverages 9% 11% 21% 5% 4% 34% Others FEC & Multiplex 5% 15% 16% Gourmet & 2% Focused initiatives undertaken to optimize hypermarket 4% 14% space across the portfolio and drive better asset utilization. Hypermarket Growth: 25% 1133 Repositioning Driving Higher Rentals at Phoenix Avenue of Stars, Pune ANCHORS PHOENIX AVENUE OF STARS, PUNE – PERFORMANCE Q2 FY27 Value YoY Growth UNIQLO IKEA MAX Consumption Rs. 509 cr ↑ 21% In a new avatar PREMIUM BRANDS Trading Density Rs. 2,328 pspm ↑ 12% MICHAEL BOSS COACH Rental Income Rs. 60 cr ↑ 16% KORS H1 FY27 Value YoY Growth VICTORI [Showing first 8,000 characters — download PDF for full document]