Earnings Presentation on the unaudited financial results of the company for the quarter and half year ended September 30, 2026

EL/SEC/2026-27/70 November 05, 2026 Corporate Relationship Department The Manager, Listing Department BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring Rotunda “Exchange Plaza”, C-1, Block G, Building, P J Towers, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Script Code: 543533 Symbol: EMUDHRA Dear Sir/Madam, Sub: Earnings Presentation on the financial results of the company for the quarter and half year ended September 30, 2026 Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the Earnings Presentation on the financial results of the company for the quarter and half year ended September 30, 2026, which will be circulated to the Investors/ Analysts for the Earnings Call scheduled on Thursday, November 05, 2026. This is for your information and records. Thanking you Yours faithfully, For eMudhra Limited Johnson Xavier Company Secretary & Compliance Officer Membership No. A28304 Encl.: As Above eMudhra Limited eMudhra Digital Campus, 12-Pl-A & 12-Pl-B, Hi-Tech Defence and Aerospace Park (IT sector), Jala Hobli, B.K. Palya, I I I Bengaluru, Karnataka 562149 Phone: +91 80 4848 4001 Email: corporate@emudhra.com Web: www.emudhra.com CIN -L72900KA2008PLC060368 Q2 & H1 FY2027 INVESTOR PRESENTATION Accelerating Trust Adoption in the Post-Quantum World November 2026 BSE: 543533 | NSE: EMUDHRA AGENDA Contents Q2 FY2027 Financial Overview Performance highlights, revenue growth and mix, operational performance, key business indicators Update on the Certificate Security Incident Summary of information disclosed publicly by the company in October 2026 Business Review Lines of business, incident update, market direction, client challenges, products, key wins and recognition Q2 FY2027 Financial Statements Consolidated statement of profit and loss, balance sheet and cash flow statement Q2 & H1 FY2027 Investor Presentation Q2 FY2027 Financial Overview Performance highlights, revenue growth, operational performance and key business indicators FINANCIAL OVERVIEW Q2 FY2027 Performance Highlights Total Income EBITDA EBIT Net Profit Rs 2,093 Rs 513 Mn Rs 393 Mn Rs 334 Mn YoY 21.6% | Margin YoY 19.7% | Margin YoY 26.3% | Margin YoY 19.6% 24.5% 18.8% 16.0% Adj. EBITDA Adj. EBIT Adj. Net Profit Basic EPS (INR) Rs 535 Mn Rs 414 Mn Rs 350 Mn INR 3.99 YoY 17.2% | Margin YoY 14.5% | Margin YoY 22.0% | Margin YoY 29.2% 25.5% 19.9% 16.7% Adjusted figures exclude ESOP provisioning and notional interest on acquisition liability. Q2 & H1 FY2027 Investor Presentation FINANCIAL OVERVIEW Revenue Growth By Geography By Line of Business Revenue from Operations (Rs Mn) India 34% Enterprise Solutions 66% 2,070 International 66% Trust Services 16% Services 18% 1,934 1,907 1,880 By Sector* By Segment* BFSI 23% Cybersecurity 80% 1,729 Govt & Defence 31% Paperless 20% Enterprise 46% By Channel* Direct 62% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Partner-led 38% Q2 FY27: Rs 2070 Mn | YoY 19.6% | QoQ 8.8% * Sector, segment, channel and customer splits relate to Enterprise Solutions only Q2 & H1 FY2027 Investor Presentation FINANCIAL OVERVIEW Healthy Operational Performance EBITDA (Rs Mn) EBIT (Rs Mn) PAT (Rs Mn) 504 513 384 334 432 441 290 296 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY27 margin 24.6% | YoY 21.9% Q2 FY27 margin 18.8% | YoY 20.2% Q2 FY27 margin 16.1% | YoY 27.3% Q2 & H1 FY2027 Investor Presentation FINANCIAL OVERVIEW Key Business Indicator Trends Revenue by Line of Business (Rs Mn) Revenue by Geography (Rs Mn) 2618 2043 3356 1355 1263 2552 1104 1623 1733 1359 1371 1159 625 644 715 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Enterprise Solutions & Services Trust Services India International Q2 & H1 FY2027 Investor Presentation Update on the Certificate Security Incident Summary of information disclosed publicly by the company in October 2026 BUSINESS REVIEW Update on the Certificate Security Incident Summary of information disclosed publicly by the company in October 2026 What happened Actions taken Scope and business impact • On 17 Oct 2026, an independent researcher • TLS customers who could be potentially • Customer impact limited to TLS certificates reported weak keys in eight intermediate CA affected in future moved to replacement chaining to the distrusted root, within a single certificates within one public ECC hierarchy, certificates from alternate publicly trusted customer ecosystem in the US created during an April 2025 key-generation providers, at no cost • Digital signature certificates, eSign, emCA, ceremony • KPMG appointed on 30 Oct 2026 as CertiNext, SecurePass, emSigner and • All eight intermediates were revoked on 18 Oct independent external reviewer; Review of key- PrivaTrust are not affected 2026; root keys were not affected. Browser generation ceremony procedures under way • Publicly trusted SSL/TLS represented root programmes have distrusted the related • Voluntary discontinuation of publicly trusted approximately 1% of revenue ECC root as a precaution SSL/TLS certificate sales in view low RoI from • These intermediate CA’s were not used to this line of business. issue any end-entity certificates. Expected impact: The company currently estimates a decline of approximately 5-6% in H2 FY27 estimated revenue as a result of the incident. Q2 & H1 FY2027 Investor Presentation Business Review Lines of business, incident update, market direction, products, key wins and recognition BUSINESS REVIEW Line of Business Trust Services Enterprise Solutions Services 16% of revenue | -6% YoY 66% of revenue | 36% YoY 18% of revenue | 0% YoY • Licensed Certifying Authority in India issuing • Five proprietary platforms: emCA, CertiNext, • Consulting and product integration services Digital Signature Certificates and eSign SecurePass, emSigner and PrivaTrust • Supports cross-sell into eMudhraplatforms • Increasing regulation around post-quantum cryptography, identity management and data privacy is driving broad demand across several markets • eSignature is increasingly seen as a necessity rather than a novelty by enterprises in developing markets Note: Issuance of publicly trusted SSL/TLS certificates is being discontinued going forward, as announced in October 2026. 15 35+ 850+ 5 Offices Countries Employees Proprietary platforms Q2 & H1 FY2027 Investor Presentation POST-QUANTUM, WORKLOADS, AGENTS AND DATA Where the Market Is Headed Post-quantum readiness Machine-to-machine Identity for AI agents Data privacy and identity sovereignty Deadlines for post-quantum Growing machine-to-machine Increasing use of agents in Greater focus on data privacy inventory and risk reporting are communication and actions enterprise ecosystems requires and sovereignty in the current approaching, and post-quantum require cryptographic identity, identity, delegated authority and geopolitical landscape is leading risk is increasingly a board-level authorisation and permissions to governance, using cryptographic to stricter enforcement by discussion in banking and automate large enterprise credentials together with access regulators and higher penalties regulated industries. ecosystems, adding to demand management technologies. for non-compliance. for PKI certificates. Regulatory markers NSA CNSA 2.0 quantum-safe purchasing from Jan 2027 | Indian DST post-quantum migration: critical infrastructure by 2029, high-priority enterprise systems by 2030 | CA/Browser Forum: 47-day TLS certificate validity by Mar 2029 Q2 & H1 FY2027 Investor Presentation MARKET CONTEXT The Client-Side Challenge Complex, time-bound compliance HOW EMUDHRA ADDRESSES THIS Compliance requirements spanning trust, cryptography and data are highly domain- specific and come with fixed time [Showing first 8,000 characters — download PDF for full document]