Please find enclosed Transcript of Analyst/ Investor Conference Call.

November 6, 2026 The Secretary, The Secretary, BSE Ltd. National Stock Exchange of India Ltd, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001. Bandra (E), Mumbai - 400 051 Sub: Transcript of Analyst/ Investor Conference Call Dear Sir/Madam, Pursuant to Regulation 30(6) and 46(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a Conference Call for the analysts and investors to discuss the financial and operational performance of the Company for Q2 FY27 was held on November 5, 2026. Please find attached herewith the transcript of the aforesaid call. The same has also been placed on the website of the Company IR Presentations | Apollo Tyres Corporate. This is for your information and records. Thanking You, Yours Sincerely, For Apollo Tyres Ltd Seema Thapar Company Secretary & Compliance Officer Registered Office: Apollo Tyres Ltd. 3rd Floor, Areekal Mansion, Panampilly Nagar, Kochi 682036, India CIN: L25111KL1972PLC002449, Tel No. + 91 484 4012046, Fax No. +91 484 4012048, Email:investors@apollotyres.com Apollo Tyres Limited Q2 FY27 Earnings Conference Call November 05, 2026 Joseph George: Good afternoon. On behalf of IIFL Capital, I welcome you all for the 2Q FY '27 Results Conference Call of Apollo Tyres Limited. From the management, we have with us today Mr. Ravi Kumar Shingari, Chief Financial Officer and Himanshu Sharma, Head, Investor Relations and Budgeting. I would now like to hand over the call to Mr. Ravi Kumar Shingari for his opening remarks. Over to you, Ravi. Ravi Kumar Shingari: Thanks, Joseph. Good morning, everyone, and thank you for joining us today. I would like to welcome you all to the Apollo Tyres Quarter Two FY ’27 Earnings Call. Before I begin, let me say that I'm honored to take the role of Chief Financial Officer at Apollo Tyres. I would like to thank Chairman Sir, Neeraj, the Board and the leadership team for the trust they have placed in me. Apollo Tyres has built a strong foundation over the years and I look forward to working closely with the team as we continue to enhance performance, strengthen financial discipline and create long-term value for our shareholders and stakeholders. Unfortunately, Neeraj could not join us today for the call due to some unexpected circumstances, but on his behalf, and on behalf of Apollo Tyres, I would like to wish everyone a very Happy Diwali. Coming to the performance, the second quarter was characterized by a challenging operating environment, marked by persistent geopolitical uncertainty and significant inflation in the key raw material cost. Despite these headwinds, I am very happy to say that the busy delivered a resilient performance and continued to execute on its strategic priorities. On a consolidated basis, our revenue grew over 16% year-on-year to Rs. INR 79.7 billion, while EBITDA stood at INR 8.6 billion, translating into an EBITDA margin of 10.7%. More importantly, this was our strongest year- on-year revenue growth in the last 16 quarters, reflecting the strength of our brands, customer relationships and market positioning. While profitability was impacted by elevated raw material cost, disciplined cost management and operating efficiencies helped partially offset the inflationary pressures. While I'll come back to the results in a little while, let me take this opportunity to talk about the tangible progress we are making across our strategic priorities, reinforcing the long-term foundations of the business. On the innovation front, we further strengthened our product portfolio through new approvals and engagements with leading OEMs including BMW, Mercedes-Benz, Mahindra and Tata Motors. In digital transformation, we are increasingly leveraging artificial intelligence and advanced analytics to improve productivity, quality and operational reliability. During the quarter, we successfully completed the SAP S/4HANA implementation for our US business and now we are on our way to implement the same for the European and the Indian operations. On brand building, we continue to invest behind both Apollo and Vredestein, driving consumer engagement across our key markets. In India, our BCCI led campaigns significantly expanded our rural outreach, while in Europe, targeted partnerships and premium positioning initiatives further strengthened the Vredestein brand. Equally importantly, we remain focused on strengthening organizational capability. During the quarter, our Chennai plant was recognized with the CII EFI National Excellence Award for Employee Relations, reflecting our commitment to building a highly engaged and collaborative workforce. Sustainability remains deeply embedded within our long-term strategy. We continue to strengthen our ESG framework and are encouraged by the recognition received from leading ESG rating agencies. Operationally, our AP plant and our Kerala plant achieved Gold Level Zero Waste to Landfill Certification, further supporting our 2030 sustainability ambitions. Coming back to the results, let me briefly touch upon India operations to start with. India operations revenue increased by nearly 26% year-on-year to INR 59.2 billion, representing an acceleration over the growth delivered in the first quarter. The performance was broad-based across both Replacement and OEM channels with volume growth and pricing contributing almost equally to the top-line expansion. Profitability remained affected by the sharp escalation in raw material cost. India EBITDA stood at INR 6.6 billion with a margin of 11.1% compared to 15.3% in the corresponding period last year. However, I believe the more important takeaway from the first half year is the company's response to this inflation cycle. Since April 2026, raw material costs have increased by approximately 25%, making this one of the steepest and fastest cost inflation episodes we have experienced in many years. In response, Apollo has implemented pricing actions of up to 15% in the Replacement segment alongside meaningful price increases in the OEM business. While raw material prices will eventually stabilize and may even soften over a period of time, our objective is to ensure that the enhanced pricing discipline demonstrated during this cycle becomes a permanent feature of the business. We strongly believe that this will contribute to a fundamentally stronger, more resilient and more profitable business model over the long term. Looking ahead, we expect demand conditions in India to remain supportive. While reported volume growth may moderate over the coming quarters due to higher base, revenue momentum should continue to benefit from the pricing actions implemented since April. On margins, although the direction of recovery is clear, the price timing actually will depend on the trajectory of commodity markets and geopolitical developments. Our focus will remain on balancing growth with profitability while maintaining disciplined execution. Turning to Europe, the operating environment remained challenging during the quarter. Revenue declined by 12% year-on-year to EUR 157 million, primarily reflecting weakness in the truck and agriculture segments, which was impacted by temporary supply disruptions as a fallout of our Enschede plant closure. But despite these challenges, there were encouraging signs beneath the surface. Our PCR business continued to gain market share despite subdued demand conditions, reinforcing the strength of a brand and product proposition. EBITDA margins for the European operations for the quarter stood at 10.3%. While our margin recovery trajectory in Europe has taken longer than initially anticipated, that has been due to the combination of market softness and transition-related challenges, but our strategic rationale remains unchanged. The actions we are undertaking today are intended to create a structurally more competitive and financially stronger European business. Our immediate [Showing first 8,000 characters — download PDF for full document]