Analysts/Institutional Investor Meet/Con. Call Updates

GSPL TRANSMISSION LIMITED GTL Bhavan, E-18, GIDC Electronics Estate, Nr. K-7 Circle, Sector – 26, Gandhinagar – 382028 Gujarat (INDIA) Tel : +91-79-23268500/700 Website: www.gspltrans.com Ref: GTL/S&L/2026-27 Date: 7th November, 2026 To To The Manager (Listing) The Manager (Listing) The BSE Limited, The National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Bandra-Kurla Dalal Street, Mumbai – 400 001 Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 544801 Company Symbol: GSPLTRANS Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript of Post Results Earnings Conference Call (Q2 & H1 – FY 26-27) held on 04th November, 2026 Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our letter dated Wednesday, 04th November, 2026, please find below the link of Transcript of the post results earnings conference call (Q2 & H1 - FY 26-27) held with the analysts on Wednesday, 04th November, 2026 at 05:00 P.M. IST: https://www.gspltrans.com/documents/pagecontent/gtl/AnalystsInstitutionalInv estorsMeetTranscripts/GTL_Q2%20_H1FY27_Concall_Transcript_4th_November_2 026.pdf The Transcript is also attached along with this intimation letter. Kindly take it on record. Thanking you. Yours Faithfully, For GSPL Transmission Limited, Rajeshwari Sharma Company Secretary Registered Office: GTL Bhavan, E-18, GIDC Electronics Estate, Nr. K-7 Circle, Sector – 26, Gandhinagar – 382028, Gujarat (INDIA) CIN: U49300GJ2024SGC153672 “GSPL Transmission Limited Q2 & H1 FY27 Earnings Conference Call” November 04, 2026 MANAGEMENT: MR. PRAKASH KARNIK – CHIEF EXECUTIVE OFFICER – GSPL TRANSMISSION LIMITED MR. LOKESH AGARWAL – GENERAL MANAGER AND CHIEF FINANCIAL OFFICER – GSPL TRANSMISSION LIMITED SRIMATI RAJESHWARI SHARMA – COMPANY SECRETARY – GSPL TRANSMISSION LIMITED MR. DEVENDRA AGARWAL – HEAD COMMERCIAL – GSPL TRANSMISSION LIMITED MR. SAARTHAK GAUTAM – HEAD PROCUREMENT AND O&M – GSPL TRANSMISSION LIMITED MODERATOR: MR. VIKASH VERMA – E&Y Page 1 of 19 GSPL Transmission Limited November 04, 2026 Moderator: Ladies and gentlemen, good day and welcome to the GSPL Transmission Limited Earnings Call Q2 and H1 FY27 hosted by EY. As a reminder, all participant lines 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 this conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Vikash Verma from EY. Thank you, and over to you, sir. Vikash Verma: Thank you, Ashi. Good evening, everyone. On behalf of GSPL Transmission Limited, I welcome you all to the company's Q2 and H1 FY27 Earnings Conference Call. To discuss the performance of the company we have with us from the management team Mr. Prakash Karnik, Chief Executive Officer, Mr. Lokesh Agarwal, General Manager and Chief Financial Officer, Srimati Rajeshwari Sharma, Company Secretary, Mr. Devendra Agarwal, Head Commercial, Mr. Saarthak Gautam, Head Procurement and O&M. Before we proceed with this call, I would like to draw your attention to the fact that today's discussion may contain some forward-looking statements that are subject to various risks, uncertainties and other factors, which would be beyond management's control. We kindly request to bear in mind that there might be some uncertainty while interpreting such statements. We will now start the session with the opening remarks from the management team. Afterwards, we will open the floor for an interactive Q&A session. I will now hand over the conference call to Mr. Prakash for his opening remarks. Thank you, and over to you, sir. Prakash Karnik: Thank you. Good evening everybody and warm welcome to Earnings Conference Call of GSPL Transmission Limited. On behalf of the board and the entire management team, I thank our shareholders, investors, analysts and stakeholders for joining us today. I will begin by explaining who we are, how our business creates value, why our network is strategically important and how we intend to build the next phase of growth. GTL is a focused pure-play natural gas transmission platform operating on an open-access basis. In simple terms, we provide infrastructure that transports gas from domestic production sources, LNG terminals, gas marketers to gas distributors, refineries, fertilizer plants, power producers and industrial customers. GTL has a strategic and difficult-to-replicate network. Our Gujarat network extends approximately 2,900 kilometers covering 26 districts, making it India's second largest natural gas network, serving 100 plus customers through 200 plus customer exit points with financial year '26 contractual volumes of 40 MMSCMD. Our network is connected to major district domestic gas supply sources, LNG terminals and consumption centers across Gujarat. What makes our network particularly strategic is positioning within Gujarat India's largest gas-consuming state. Gujarat accounted for approximately 22% of India's natural gas consumption in financial year '26 and hosts four operational LNG terminals. Page 2 of 19 GSPL Transmission Limited November 04, 2026 GTL is the only grid connected to all operational LNG gateways in Gujarat. This connectivity enables us to link multiple sources of gas with diversified base of CGD, refinery, fertilizer, power and industrial customers. Our bi-directional network design and SCADA-led operations further support system flexibility, reliability and 24/7 monitoring. GTL is positioned for India's gas-led growth. India aspires to increase natural gas share in its energy mix from approximately 6% currently to 15% by 2030. Natural gas consumption is projected to increase from 188 MMSCMD in financial year '26 to 297 MMSCMD by 2030, supported by urbanization, industrial and manufacturing activity, cleaner fuel adoption, pipeline expansion and development of LNG infrastructure. Within our customer portfolio, we maintain diversified exposure across these end-use segments. GTL is positioned to participate in this opportunity because our network connects supply with several of countries' key demand segments. Equally important, our customer portfolio is diversified, which limits dependence on any single end-use category and gives us exposure to multiple sources of gas demand. Coming to our business performance, Q2 financial year '27 saw broad-based growth in transportation volumes across our key grids. Overall GTL volumes increased from 45 MMSCMD compared with 40 MMSCMD in quarter 2 of financial year '26, representing 12% growth. HP grid volumes grew 9% year-on-year. LP grid volumes increased 30%, while HAPi grid volumes increased 16%. Our presence beyond Gujarat is supported by two of our joint venture companies, GIGL and GITL. GIGL operates approximately 1,439 kilometers of cross- country pipeline across Gujarat, Rajasthan, Haryana and Punjab, while GITL operates approximately 365 kilometers pipeline connecting Andhra Pradesh and Telangana. Another important focus for us is creating capacity for the next phase of the growth. We are progressing on expansion-led capex program of approximately INR 3,500 crores covering more than 10 pipeline and connectivity projects aggregating to 700 kilometers. Combined with our existing approximately 2,900 network, these additions are expected to expand our overall Gujarat network to 3,600 kilometers. Project execution is gaining momentum with several projects now at advanced stage of implementation. In July 2026, we awarded EPC contracts worth INR 1,800 crores for Anjar– Palanpur Pipeline Project. Other projects under implementation include Jamnagar-Dwarka, Vapi-Tarapur, Dahej-Bhadbhut and multiple spur lines and customer connectivity projects. Our approach going forward remains centered around expanding network reach, impr [Showing first 8,000 characters — download PDF for full document]