Outcome of Board Meeting

UPL Limited, Uniphos House, C.D. Marg, 11th Road, Madhu Park, Khar (West), Mumbai – 400052, India w: www.upl-ltd.com e: contact@upl-ltd.com t: +91 22 6856 8000 November 2, 2026 BSE Limited National Stock Exchange of India Ltd Mumbai Mumbai SCRIP CODE: 512070 SYMBOL: UPL Sub: Unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2026 Dear Sir/Madam, Further to our letter dated October 26, 2026, and in accordance with the requirements of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that the Board of Directors ("Board") at their meeting held today i.e. Monday, November 2, 2026, considered and approved the unaudited consolidated and standalone financial results of the Company for the quarter and half year ended September 30, 2026. The aforesaid financial results were reviewed by the Audit Committee before approval by the Board. Pursuant to Regulation 30 and 33 of the SEBI Listing Regulations, we are enclosing herewith unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2026, along with limited review reports issued by B S R & Co. LLP, Chartered Accountants, Statutory Auditors of the Company. The Board Meeting commenced at 12:45 p.m. (IST) and is in progress. The results were taken on record by the Board at 2:35 p.m. (IST) We request you to take the above information on records. Thanking you, Yours faithfully, For UPL Limited Sandeep Deshmukh Company Secretary and Compliance Officer (ACS-10946) Encl.: As above Cc.: 1. London Stock Exchange 2. Singapore Stock Exchange 3. NSE IX Registered Office: 3-11, GIDC, Vapi, Valsad - 396 195, Gujarat, India. P +91 260 2432716 CIN: L24219GJ1985PLC025132 BS R & Co. LLP 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Chartered Accountants Goregaon (East), Mumbai - 400 063, India T~ephone: +91 (22)62571000 Fax:+91 (22)62571010 Limited Review Report on unaudited consolidated financial results of UPL Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of UPL Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of UPL Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net loss after tax and total comprehensive loss of its associates and joint ventures for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Registered Office: B SR & Co. (a partnership finn with Registration No. BA61223) converted into BS R & Co. LLP (a 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Limited Liability Partnership with LLP Registration No. MB-8181) with effect from October 14, 2013 Center, Western Express Highway, Goregaon (East), Mumbai -400063 Page 1 of 13 BS R & Co. LLP Limited Review Report (Continued) UPL Limited 6. We did not review the financial information of 31 Subsidiaries included in the Statement, whose financial information reflects total assets (before consolidation adjustments) of Rs. 1,28,894 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 8,444 crores and Rs. 14,784 crores, total net profit after tax (before consolidation adjustments) of Rs. 4,344 crores and Rs. 9,201 crores and total comprehensive income (before consolidation adjustments) of Rs. 4,349 crores and Rs. 9,208 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and net cash outflows (before consolidation adjustments) of Rs. 1,020 crores for the period from 01 April 2026 to 30 September 2026 as considered in the Statement. This interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. 7. The Statement includes the interim financial information of 153 Subsidiaries which have not been reviewed, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 1,65,257 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 4,818 crores and Rs. 10,108 crores, total net profit after tax (before consolidation adjustments) of Rs. 2,511 crores and Rs. 2,958 crores and total comprehensive income (before consolidation adjustments) of Rs. 2,509 crores and Rs. 2,956 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and net cash outflows (before consolidation adjustments) of Rs. 1,076 crores for the period from 01 April 2026 to 30 September 2026 as considered in the Statement. The Statement also includes the Group's share of net loss a [Showing first 8,000 characters — download PDF for full document]