Analysts/Institutional Investor Meet/Con. Call Updates

November 4, 2026 IGAL/SECT/11-26/2 To To National Stock Exchange of India Limited BSE Limited Exchange Plaza, C - 1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra - (E) Dalal Street Mumbai - 400 051 Mumbai - 400 001 Symbol: INDIGO Scrip Code: 539448 Subject: Transcript of earnings call on financial results for the quarter and half year ended September 30, 2026 Dear Sir/ Madam, In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed transcript of earnings call held on October 29, 2026, on financial results for the quarter and half year ended September 30, 2026. This disclosure is also being made available on the Company’s website at www.goindigo.in. The above is for your information. Thanking you, For InterGlobe Aviation Limited Neerja Sharma Company Secretary & Chief Compliance Officer Encl: a/a InterGlobe Aviation Limited Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in Corporate Office: Emaar Capital Tower-II, Sector-26, Sikanderpur Ghosi, MG Road, Gurugram-122002, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768 IndiGo October 29, 2026 “IndiGo Second Quarter Fiscal Year 2027 Financial Results Conference Call” October 29, 2026 MANAGEMENT: MR. WILLIE WALSH – CHIEF EXECUTIVE OFFICER MR. KIRAN THADIMARRI – CHIEF FINANCIAL OFFICER Ms. RICHA CHHABRA – HEAD OF INVESTOR RELATIONS Page 1 of 16 IndiGo October 29, 2026 Operator: Good evening ladies and gentlemen and welcome to IndiGo’s Conference Call to discuss the second quarter of fiscal year 2027 financial results. My name is Neerav and I will be your coordinator. At this time, the participants are in a listen-only mode. A question-and-answer session will follow today’s management discussion. As a reminder, today’s conference call is being recorded. I would now like to turn the call over to your moderator, Ms. Richa Chhabra, Head of Investor Relations at IndiGo. Richa Chhabra: Good evening, everyone, and thank you for joining us for the second quarter of fiscal year 2027 earnings call. We have with us our Chief Executive Officer – Willie Walsh and our Chief Financial Officer – Kiran Thadimarri to discuss the financial performance and are available for the Q&A session. Please note that today’s discussion may contain certain statements on our business or financials which may be construed as forward-looking. Our actual results may be materially different from these forward-looking statements. The information provided on this call is as of today’s date and we undertake no obligation to update the information subsequently. We will upload the transcript of prepared remarks by day end. The transcript of the Q&A session will be uploaded subsequently. With this, let me hand over the call to Willie Walsh. Willie Walsh: Good evening, everyone, and thank you for joining us on this call. As this is my first earnings call as CEO of IndiGo, I thought I would start by sharing a few thoughts from my first few months with the business. I joined IndiGo just before the airline completed 20 years of operations — an important milestone and a good time to reflect on how far the business has come. Obviously, I knew IndiGo well before joining and had always respected what the airline had built. My first few months inside the business have given me a much clearer view of what drives IndiGo’s success: strong cost discipline, a relentless focus on operations, and an experienced team that knows how to deliver at scale. Moving to the quarter, let me start with the operating environment. The global aviation industry continues to face uncertainty, particularly from geopolitical events, which are affecting travel patterns, operating costs and, in some cases, the way airlines operate their networks. We monitor these developments closely, both from a commercial and operational standpoint. Where conditions affect our ability to operate safely, we review the risks and make the necessary adjustments to our network. Safety will always be our top priority. Page 2 of 16 IndiGo October 29, 2026 At the same time, the industry continues to operate with fuel costs well above historical levels. Airlines across the world, including IndiGo, have responded through capacity and network adjustments and pricing actions, but cost pressures remain elevated. Moving to our financial performance, our reported results were primarily shaped by two factors. - First, exceptionally high fuel costs continued to weigh on our financial performance. - Second, a seasonally soft period, falling between the summer and festive travel peaks and including the monsoon season In response, we acted decisively to rationalize capacity across parts of our network. Our pricing actions and disciplined capacity deployment, together with a 5 percent reduction in industry seats, supported stronger revenue performance. However, due to the elevated cost environment, we reported a net loss of 19 billion rupees. Our liquidity remains strong, with free cash of around 399 billion rupees. This positions us to navigate near-term volatility while retaining the flexibility to invest in our long-term growth priorities. And those plans are supported by the significant opportunity we see in India. The near-term outlook may be challenging, but the foundations for long-term aviation growth remain strong. I have spoken about the opportunity in India on many occasions, and I continue to believe it represents one of the most compelling aviation markets in the world. Continued investment in infrastructure, increasing connectivity and the growing importance of air travel within the broader economy provide a strong foundation for long-term demand. IndiGo’s strong base puts us in a good position to capture this opportunity. Our priorities are clear: - First, to continue building on the core strengths that have made IndiGo India’s preferred airline. - Second, to maintain the operating and cost discipline that has been fundamental to the company’s success. - Third, to be disciplined about where and how we grow, with a clear focus on long-term value creation. - And fourth, to build our international footprint in a measured way, taking advantage of the capabilities of the XLRs and A350s while preserving the strengths of our low-cost model. Alongside this growth, we are strengthening our relationship with customers through IndiGo Page 3 of 16 IndiGo October 29, 2026 BluChip. The programme completed two years in October and is approaching 20 million members, with more than 30 partners. With that, let me hand over to Kiran, our new Chief Financial Officer, who will take you through the financial performance in more detail. Kiran Thadimarri: Thank you, Willie, and good evening, everyone. I would like to begin by putting the quarter’s performance in context. As Willie mentioned, in the September quarter we delivered strong revenues in a seasonally soft quarter amid significantly elevated fuel costs. While the reported results capture the combined effect of these factors, it is important to distinguish their near-term impact from the underlying earnings strength of the business. - First, fuel costs remained elevated. The benchmark Singapore jet fuel index was 60 percent higher than Q2 last year. This increase, along with the rupee depreciation, flowed directly through to our cost base, a 69 percent increase in our fuel CASK. - Second, the quarter reflected a measured and disciplined approach to capacity in a period of seasonally softer demand, with seat deployment across the industry approximately 5 percent lower year-on-year. If you recall, industry capacity in Q2 last year also reflected seasonal adjustments. - Third, in this environment, we delivered a 31 percent increase in PRASK, which exceeded our guidance of more than 25 percent growth. While this represents str [Showing first 8,000 characters — download PDF for full document]