Please find attached the Earnings Call transcript for the concall held on July 24, 2026.

46/SEL/MP/2026 July 28, 2026 Listing Department, Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers Bandra-Kurla Complex Dalal Street, Bandra (E), Mumbai-400 051. Mumbai - 400 001. NSE Symbol: SHEMAROO Scrip Code : 538685 Dear Sir/Madam, Ref: SHEMAROO ENTERTAINMENT LIMITED - ISIN: INE363M01019 Sub: Transcript of Earnings Conference Call dated July 24, 2026 In compliance with Regulation 30(6) read with Schedule III and other applicable provisions of the SEBI Listing Regulations, please find enclosed the transcript of the earnings conference call of the Company for the first quarter ended June 30, 2026, held on Friday, July 24, 2026, at 12 Noon (IST). The text transcript of the said earnings call is also uploaded on the website of the Company at the weblink: https://www.shemarooent.com/uploads/pdf/conference_call_transcript_pdf/june2026concalltrans cript.pdf Kindly take the above on record and oblige. Thanking you, Yours faithfully, For Shemaroo Entertainment Limited Meenakshi Pansari Company Secretary & Compliance Officer Membership no. A53927 Encl: as above SHEMAROO ENTERTAINMENT LIMITED Shemaroo House, Plot No. 18, Marol Co - Op. Industrial Estate, Off Andheri Kurla Road, Andheri (E), Mumbai - 400 059. Tel.: +91 - 22 4031 9911 | Email: shemaroo@shemaroo.com shemarooent.com | CIN: L67190MH2005PLC158288 “Shemaroo Entertainment Limited Q1- FY’27 Earnings Conference Call” July 24, 2026 ANALYST: Mr. Anuj Sonpal– Chief Executive Officer- Valorem Advisors SHEMAROO ENTERTAINMENT LIMITED MANAGEMENT : Mr. Hiren Gada ‐ CEO : Mr. Arghya Chakrvarty ‐ COO : Mr. Ashish Gupta ‐ CFO Shemaroo Entertainment Limited Q1 FY’27 Conference Call July 24, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 & FY 27 Conference Call of Shemaroo Entertainment Limited hosted by Valorem Advisors. As a reminder, all participant line will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you and over to you ma'am. Purvangi Jain: Thank you, good afternoon, everyone and a warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investor relations of Shemaroo Entertainment Limited. On behalf of the company, I would like to thank you all for participating in the Company's Earnings Call for the 1st Quarter of the Financial Year 2027. Before we begin, a quick cautionary statement. Some of the statements made in today's conference call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's Earnings Conference Call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. Now, I would like to introduce you to the management participating with us in today's Earnings Call and hand it over to them for their opening remarks: We have with us Mr. Hiren Gada – CEO, Mr. Arghya Chakravarty – COO and Mr. Ashish Gupta – CFO. Page 1 of 17 Without any delay, I request Mr. Ashish Gupta to start with his opening remarks on the financial highlights. Thank you and over to you, sir. Ashish Gupta: Thank you, Purvangi and good afternoon, everyone. Welcome to our Earnings Call for the 1st Quarter of the Financial Year 2027. Let me first start by giving you some of the key financial highlights, after which our CEO – Mr. Hiren Gada, will give you some operational highlights for the quarter under review. Now, for the 1st Quarter of Financial Year 2027, revenue from operations stood at approximately INR 132 crores, reflecting a 6% year-on-year decline. The company significantly narrowed its EBITDA loss to around INR 2 crores compared to INR 56 crores in the corresponding quarter last year. Net loss also materially reduced to approximately INR 8 crores. With regards to the new initiatives, expenses in the 1st Quarter of the Financial Year 2027 amounted to around INR 20 crores. Adjusting for these investments, the EBITDA for existing operations for the quarter would have been around INR 18 crores. The digital media revenues for the 1st Quarter stood at approximately INR 56 crores, registering a year-on-year decline of approximately 17%. Traditional media revenues for the quarter were around INR 76 crores and up 5% year-on-year. Now, I would request our CEO – Mr. Hiren Gada, to give you the operational highlights for the period under review. Hiren Gada: Thank you, Ashish, and good afternoon, everyone. This quarter marks an important milestone in our transformation journey, representing the quarter following the successful completion of the inventory charge-off initiative that we embarked on nearly 10 quarters ago. For the quarter under review, while revenue declined marginally, the EBITDA and PAT loss reduced significantly. Digital revenue for the quarter declined by 17% year-on-year, as select B2B syndication deals were deferred on account of geopolitical uncertainty, coupled with the inherently lumpy nature of this B2B side of the business. This was partially offset by healthy growth in our consumer business, driven by fresh content, stronger audience engagement, and improved advertising monetization. The traditional business registered a 5% year-on-year growth with the closure of select B2B licensing deals, which more than offset the impact of a subdued advertising environment. Given the ongoing BARC blackout, continuing macroeconomic pressures, and geopolitical tensions, the overall advertising outlook for our traditional business is expected to remain subdued in the near term. Page 2 of 17 On ShemarooMe Gujarati, the platform acquired the OHO Gujarati catalogue in April 2026, adding over 22 Gujarati original web series. We also released 10 new titles, during the quarter across movies, web series and plays including the original web series Kajodu, and the world digital premiere of Jalebi Rocks. Other prominent web series released during the quarter include Vitthal Teedi Season 1, Kadak Meethi Season 1 and 2, and Cutting Season 1. On YouTube, the flagship channel Shemaroo Filmi Gaane surpassed 74.7 million subscribers, while Shemaroo Entertainment crossed the 61.9 million subscriber milestone this quarter. Across its entire portfolio of channels, the company garnered approximately 9 billion views during the quarter, reflecting sustained digital engagement. On the syndication front, the company became the worldwide digital and satellite distribution partner for Malayalam action thriller Kattlan. We are also very proud that our first AI-powered campaign, Kindness Badhaye Goodness, received industry-wide recognition, winning the Baby Blue Elephant at the Kyoorius Creative Awards 2026 and a bronze at the Good Ads Matter Awards. These accolades reflect our commitment to combining creativity with technology to build meaningful consumer engagement. In conclusion, as you all know, it has been a tough couple of years not only for Shemaroo, but for the overall industry. Over the last few years, Shemaroo has withstood the toughest times the industry has ever witnessed. In fact, the company has invested heavily during this period in its people, processes and offerings, thereby building a much agile and sustainable company for the future. With that, I now open the floor for question-and-answer sessions. Moderator: Thank you very much. We will now begin the question [Showing first 8,000 characters — download PDF for full document]