Analysts/Institutional Investor Meet/Con. Call Updates

Ref./No./FRACTAL/SE/2026-27/037 Date: July 27, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai 400051 Mumbai 400 001 Maharashtra, India Maharashtra, India Scrip Symbol: FRACTAL Scrip Code: 544700 Sub: Transcript of Earnings Conference Call pertaining to the Unaudited Consolidated and Standalone Financial Results for the quarter ended June 30, 2026 Dear Ma’am / Sir, Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the Earnings Conference call held on Friday, July 24, 2026, for the Unaudited Consolidated and Standalone Financial Results for the quarter ended June 30, 2026. The said transcript is also available on the website of the Company at: https://fractal.ai/docs/Investor- Relations/Financial-Statements-and-Annual-Reports/2027/Q1/Fractal-Q1-FY27-Earnings-Call-Transcript.pdf This disclosure will also be hosted on the Company’s website at: https://fractal.ai/investor-relations Kindly take the same on records and arrange to bring this to the notice of all concerned. Thanking you. Yours sincerely, For Fractal Analytics Limited Somya Agarwal Company Secretary and Compliance Officer Membership No: A17336 Encl: a/a Fractal Analytics Limited (formerly known as Fractal Analytics Private Limited) CIN: L72400MH2000PLC125369 Registered address: Level 7, Commerz II, International Business Park, Oberoi Garden City, Off W. E. Highway Goregaon (E), Mumbai - 400063, Maharashtra, India. W: www.fractal.ai | P: +91 22 6850 5800 | E: investorrelations@fractal.ai Fractal Q1 FY2027 Earnings Conference Call July 24, 2026 MANAGEMENT: MR. SRIKANTH VELAMAKANNI, CO-FOUNDER AND GROUP MR. PRANAY AGRAWAL – CO-FOUNDER & CEO MR. ASHWATH BHAT – CHIEF FINANCIAL OFFICER MR. SATISH RAMAN – CHIEF STRATEGY OFFICER MS. SVETLANA JOSHI –INVESTOR RELATIONS MS. ANJALI GARG – INVESTOR RELATIONS Page 1 of 21 Fractal Analytics July 24, 2026 Moderator: Ladies and gentlemen, a very good morning. My name is Inba, and I will be moderating today's session. Welcome to Fractal’s Q1 FY2027 earnings conference call. All participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after management's remarks. Please note that this call is being recorded. I will now hand over the call to Svetlana Joshi from Fractal’s Investor Relations team. Thank you and over to you Svetlana. Svetlana Joshi: Thank you, Inba. Good morning, everyone, and thank you for joining us today. We will be discussing Fractal’s performance for the first quarter of FY2027, which ended on June 30th, 2026. Our results, investor presentation, and fact sheet have been filed with the exchanges and are available on our investor relations website. Joining me on the call today are Srikanth Velamakanni, Co-founder and Group CEO, Pranay Agrawal, Co-founder and CEO, Ashwath Bhat, Chief Financial Officer, and Satish Raman, Chief Strategy Officer. Before we begin, please note that certain statements made during this call may be forward-looking in nature. These statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Such statements or comments are not guarantees of future performance, and Fractal undertakes no obligation to update them. Please refer to the cautionary statements in our investor presentation and regulatory filings. Today, we will hear from Srikanth on the business update, from Ashwath on the detailed financial performance and then take questions. With that, let me hand it over to Srikanth. Srikanth Velamakanni: Thank you, Svetlana. Good morning, everyone. Let us get straight into the quarter. Revenue for Q1 was INR 912.5 crore, up 20% year-on-year. In constant currency terms, revenue growth was 9%. Here is how that breaks down by industry. Vertical-wise, our Healthcare and Life Sciences business continued to be a growth leader, growing at an exceptional 69% year-over-year. It is now our second-largest industry vertical. Banking and Financial Services grew 36% year- over-year. CPG and Retail, our largest vertical, grew at 19%. Our worst performance was in the Technology, Media, and Telecom (TMT) vertical, which declined by 22% year-over-year, dragging down our headline growth this year. Two things are worth mentioning regarding the TMT vertical. Firstly, our overall growth excluding TMT would have been 37% year-over-year. Ideally, we would like to grow at that kind of pace overall. Secondly, the TMT performance is bottoming out and we expect healthy sequential growth in TMT the next quarter. Page 2 of 21 Fractal Analytics July 24, 2026 Let us look at it geographically. Europe led revenue growth with 25%, where Americas were close behind, with revenue growth of 24%. APAC and others were down by 2% year-over- year, largely impacted by the TMT industry issue, as well as the conflict in the Middle East. Let us look at some of the other metrics. Here are three numbers underneath that matter as much, if not more. First, our Net Promoter Score was 77 in Q1, up from 73 a year ago. Two, our Net Revenue Retention was 117% in Q1, up from 108% last year. Revenue from new clients contributed to 3% of revenue growth during the quarter and 0% churn came from client base in Q1. Three, clients kept buying more from us over time. Here is what it looks like. Number one, the number of clients contributing more than INR 20 million in TTM revenue was 5 in Q1, up from 4 at the same time last year. The number of clients contributing more than INR 5 million in TTM revenue was 19 in Q1, up from 18 the same time last year. The number of clients contributing to more than INR 1 million in TTM revenue stood at 58 in Q1, up from 54 the same time last year. We are also de-risking as we deepen. Our top 10 clients contributed 51.8% of revenue in Q1, down from 55.9% a year ago. Now, let us look at profitability. On profitability, Ashwath will go deeper, but here are some headlines. Net income grew 92% for the quarter to INR 72 crore. Our gross margin was 46% in Q1. Adjusted EBITDA grew 35% on revenue growth of 20%. Q1 adjusted EBITDA margin reached 17%, up 189 basis points year-over-year. Set side by side with Q1 last year, adjusted EBITDA margin moved from 15% to 17%, and Net Income margin from 5% to roughly 8% in a single year. Those are the numbers behind this quarter Here are three highlights I want to mention. First, this quarter, we won one of the largest single programs in Fractal’s history. We are building the AI foundations for a large healthcare player and modernizing their data estate using AI. We will share more details within a few days. Second, in July, we signed a MoU with Mumbai’s municipal corporation, the BMC, to pilot Vaidya.ai, now also called as Cogentiq Health, our healthcare AI platform, across several of the city’s public hospitals. It is a pilot for now. The BMC will evaluate it on staff training, Page 3 of 21 Fractal Analytics July 24, 2026 citizen feedback, and doctor experience before deciding on a citywide rollout. If this pilot leads to a citywide rollout, it becomes a blueprint for other states and cities to follow. Third, momentum on our own platform. We have started AI-led transformation deals with Cogentiq across CPG and financial services clients. This is very important for us, and it is a great revenue engine that we expect will keep growing. That is the quarter for now. Ashwath will take you through the financials in more depth. I will come back and talk about demand and where this market is headed after that. Over to you, Ashwath. Ashwath Bhat: Thank you, Srikanth, and good morning, everyone. Before I get into the details of our Q1 performance, a few highlights: • In Q1 2027, year-over-year, we expanded our margins meaningfully [Showing first 8,000 characters — download PDF for full document]