Analysts/Institutional Investor Meet/Con. Call Updates

4th November 2026 Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Ltd. 1st floor, New Trading Ring Exchange Plaza, 5th floor, Rotunda Building, P J Towers Bandra-Kurla Complex Dalal Street, Fort Bandra (E) Mumbai - 400 001 Mumbai – 400051 Scrip Code: 500710 Symbol: JSWDULUX Dear Sir/Madam, Sub: Investor Presentation Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Investor Call presentation document basis the unaudited financial results for the quarter and half year ended 30th September 2026, as approved by the Board of Directors on 4th November 2026. You are requested to kindly take the above information on record. Thanking you, Yours truly, For JSW Dulux Limited (Formerly Akzo Nobel India Limited) Rajiv L. Jha General Counsel & Company Secretary Encl: as above. Investors Call 4th Nov 2026 Safe Harbour Statement This presentation contains statements which address such key issues as the Company’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecast and actual results or outcomes to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures and approvals, as well as significant market disruptions. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report. 1. Introduction 2. Performance Highlights 3. Concluding Remarks CONTENT INDEX Introduction About JSW Group (Listed entities) 1: Further 4.5mtpa capacity in Joint Venture currently, growing to 16mtpa by FY32 5 Note: Market caps as on 3rd June 2026. JSW Paints is unlisted About JSW Group (Unlisted verticals) UAS: Unmanned Aerial Systems. ATV: All-Terrain Vehicles JSW Dulux at a glance Market share of 5% in Decorative Paints, 7% in Industrial Paints Gurugram #Headquartered in Mumbai, presence across >5,000 towns Gwalior Mohali Decorative Paints Decorative and Leader in Premium portfolio with Industrial Paints iconic brands (Dulux, Sikkens, International) 5 manufacturing locations with aggregate 305 MLPA capacity Kolkata Strong governance with balanced Board composition between JSW Group and Independent Directors Hyderabad Decorative Paints 2 Research & Development Centres (Mumbai, Bangalore) Mumbai Chennai HQ, Decorative and Industrial Paints 1,387 employees Bangalore Industrial Paints ~22,000 retailers; ~4,000 Factory R&D Lab Registered Office Corporate Office Sales Office B2B customers Data for FY26 shown Performance Highlights Resilient growth amidst cost and currency volatilities FY27 GDP growth intact Declining consumer confidence Rising inflation; RBI target breached Crude prices at elevated levels Trade disruptions impacting TiO prices ₹ weighed down by FII outflows, crude Sources: Ministry of Statistics, RBI, Energy Information Administration, ICICI Securities 9 Q2 FY27 Business Highlights New ad campaign of VT Eterna Expanding breadth of product portfolio Building scale and throughput Strong moats in Industrial Paints Leveraging strength of JSW Group Q2 FY27 Comparable Performance (Standalone) Continued progress on our Strategic Priorities Revenue GM EBITDA PAT 793.3 961.9 21.3% 331.1 353.8 6.8% 106.3 110.9 4.4% 69.8 71.2 2.0% 41.7% 36.8% 13.4% 11.5% 8.8% 7.4% LY | CY • Volume +22%; fourth • Impact of GM% dilution consecutive quarter of double- • Margins impacted as price limited through prudent digit volume growth increases only partly offset balance between cost • PAT at 71.2 Cr • B2C: strong traction leading up RM inflation. management and growth • Growth of 2% (excluding to the festive season. • B2C margins impacted by RM initiatives exceptional income of LY) Calibrated price increases taken inflation and higher • Realized benefits of Project limited by lower during the quarter promotion spends Akshaya (₹7.3 Cr in Q2) investment income • B2B: Strong order wins in • B2B margins lower due to • Double-digit profitability Infrastructure, Power, Coil business mix sustained sectors and Automotive OEM’s * presented after regrouping of certain promotional spends ^ L2L numbers for LY exclude carved-out/ AN-retained business (provisional, unaudited, based on Mgmt estimates) Values in ₹ Cr Entity Reported P&L (Standalone) Q2 Comparable* Statutory reported Particulars (₹ Cr) FY26 FY27 FY26 FY27 Net Revenue 793.3^ 961.9 827.6 ^ 961.9 % growth 21.3% 16.2% Gross Margin 331.1 353.8 337.4 353.8 Gross Margin % 41.7% 36.8% 40.8% 36.8% % growth 6.8% 4.9% EBITDA 106.3 110.9 110.6 110.9 EBITDA% 13.4% 11.5% 13.4% 11.5% % growth 4.4% 0.3% Exceptional items 0.0 0.0 1,874.2 0.0 Profit before Tax 93.4 88.7 1,971.9 88.7 Tax -23.6 -17.5 -289.2 -17.5 Profit after Tax 69.8 71.2 1,682.7 71.2 as % of Net Revenue 8.8% 7.4% 203.3% 7.4% % growth 2.0% -95.8% ^ presented after regrouping of certain promotional spends * L2L numbers for LY exclude carved-out/ AN-retained business (provisional, unaudited, based on Mgmt estimates) Statutory reported numbers include exceptional items of ₹1,874.2 crore (pre-tax proceeds from sale of Powder Coatings, IRC, and related costs) in Q2 and H1 FY26. Project Akshaya Unlocking Synergies through operational efficiencies; ₹7.3 Cr realised in Q2 Supply Chain efficiencies Re design end-to-end supply chain to maximize efficiency, faster response to market ERP & Systems Cross integration manufacturing Harmonizing digital eco system to create best in Optimise capacity class customer experience utilization and better reach to end customers Unified Projects Alignment of functional JSW Dulux JSW Paints business structures Creating business model that Alignment of processes and roles enhances customer value to drive excellence and propositions with wide range of efficiencies product offerings and services Concluding Remarks Concluding remarks • Accelerating growth through scale, innovation and execution • Delivering strong and sustainable improvement in absolute Profits • Enhancing Investor engagement • Creating enduring value for all stakeholders • Getting “Better Everyday” THANK YOU