Analysts/Institutional Investor Meet/Con. Call Updates

Date: November 10, 2026 Ref:- GHL/2026-27/EXCH/75 The General Manager The Manager Dept. of Corporate Services Listing Department BSE Limited, National Stock Exchange of India Limited P J Towers, Dalal Street, Exchange Plaza, C-1, Block G, Mumbai - 400 001 Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Scrip Code: 543654 Symbol: MEDANTA Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Earnings Conference Call Transcript Dear Sir(s), Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of Earnings Conference Call held on Wednesday, November 04, 2026, for the Second Quarter and Half-Year ended September 30, 2026 results. The Transcript is also available at our website: https://www.medanta.org/investor-relation This is for your information and record. For Global Health Limited Rahul Ranjan Company Secretary & Compliance Officer M.No. A17035 Encl: a/a Regd. Office: E-18, Defence Colony, New Delhi 110024, Ph No.011- 44114411 www.medanta.org, info@medanta.org, CIN: L85110DL2004PLC128319 “Global Health Limited – Medanta Q2 FY '27 Earnings Conference Call” November 04, 2026 MANAGEMENT: DR. NARESH TREHAN – CHAIRMAN AND MANAGING DIRECTOR – GLOBAL HEALTH LIMITED – MEDANTA MR. PANKAJ SAHNI – GROUP CHIEF EXECUTIVE OFFICER AND DIRECTOR – GLOBAL HEALTH LIMITED – MEDANTA MR. YOGESH KUMAR GUPTA – CHIEF FINANCIAL OFFICER – GLOBAL HEALTH LIMITED – MEDANTA MR. GAURAV CHUGH – HEAD INVESTOR RELATIONS – GLOBAL HEALTH LIMITED – MEDANTA MODERATOR: MR. ANSHUMAN GUPTA – INVESTEC CAPITAL SERVICES (INDIA) PRIVATE LIMITED Page 1 of 17 Global Health Limited – Medanta November 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Global Health Limited, Medanta Q2 FY27 Earnings Conference Call hosted by Investec Capital Services India Private Limited. 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 the conference call, please signal an operator by pressing “*” then “0” on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Anshuman Gupta from Investec Capital Services (India) Private Limited. Thank you, and over to you, sir. Anshuman Gupta: Thank you very much, operator, and good afternoon, everyone. I'm Anshuman Gupta from Investec, and I cover pharma and health care space at Investec. So welcome all of you to the Q2 FY27 earnings call of Global Health Limited. From the management side, we have with us today Dr. Naresh Trehan, Chairman and Managing Director; Mr. Pankaj Sahni, Group CEO and Director; Mr. Yogesh Kumar Gupta, Chief Financial Officer; Mr. Gaurav Chugh, Head of Investor Relations. The discussion today may include certain forward-looking statements and the safe harbor notice set out in the company's presentation also applies to this conference call. A transcript of this call will also be available on the company's website. With this, I would like to hand over the conference call to Dr. Trehan for his opening remarks. Thank you, and over to you, Doctor. Naresh Trehan: Thank you. Good afternoon to all of you. Thank you for joining us today for Medanta's Q2 and H1 FY27 Earnings Conference Call. I hope all of you have had the chance to review the results and presentations that were released yesterday. At Medanta, our journey has always been guided by a simple belief, access to the highest standard of healthcare should not be determined by where the patient lives. Our responsibility is to bring world-class clinical expertise, advanced technologies and compassionate care closer to the people who need it. We have delivered a strong performance this quarter. We witnessed a healthy growth in patient volumes, supported by increasing demand across all our specialties, a growing proportion of complex cases and the continued trust of patients and referring doctors. This trust has been built over time through clinical outcomes, the depth of our medical expertise and confidence patients place in our institution. I'm pleased to share that our 550-bed Noida hospital inaugurated in November 2025, achieved EBITDA breakeven during the quarter, within a year of its inauguration. This is an important milestone demonstrating the successful ramp-up of the hospital, improving operating leverage and the scalability of the Medanta model. It reinforces our confidence in replicating this model across new geographies. Page 2 of 17 Global Health Limited – Medanta November 04, 2026 We continue to invest in technologies and specialized infrastructure that expand the boundaries of what our clinicians can achieve. During the quarter, we added the Siemens ARTIS icono biplane system at our Gurugram hospital. At Patna, we strengthened our capabilities with the Siemens ARTIS ceiling-mounted cath lab and the VELYS hip navigation system. During the quarter, we onboarded more than 100 doctors, including over 65 clinicians across specialties. During the quarter, we also took an important step towards expanding our presence in the Delhi NCR region. We acquired a 2.61-acre land parcel in Ghaziabad through an e-auction, where we plan to develop a 500-bed multi-specialty hospital. The hospital will strengthen our presence in the Delhi NCR's healthcare system. It will also bring high-quality tertiary and quaternary care to Ghaziabad's fast-growing population and the surrounding catchment. We see Ghaziabad as an attractive health care destination. It has a large growing population, witnessing rapid urbanization, expanding residential and commercial developments and strong connectivity with Delhi NCR. We believe it is well suited for a Medanta hospital. Including Ghaziabad, our expansion pipeline comprises of 6 new greenfield hospitals, supporting our ambition to double our bed capacity over time. Our focus is not simply on adding capacity, but on taking the Medanta model of high-quality, advanced healthcare to more geographies, particularly those where access to comprehensive specialized care remains limited. The progress at Noida gives us confidence in the strength of this model. And as we expand, we will remain focused on disciplined execution, maintaining the highest standard of care and building institutions that earn the trust of the communities they serve. Ultimately, our purpose remains unchanged: to touch more lives through clinical excellence, innovation and compassionate care. This is the vision that will continue to guide Medanta's journey. With all these details that I just shared with you, I will hand over the call to Mr. Pankaj Sahni, our Group CEO, who will take you through the strategic, operational and financial performance of the quarter. So over to you, Pankaj. Pankaj Sahni: Thank you, Dr. Trehan. Good afternoon and thank you for joining us today. Q2 FY27 has been a strong quarter for Medanta, with robust growth across financial and operational parameters. We have continued to build on the momentum across our network, with improving operating performance and a meaningful contribution from both our Cluster 1 and Cluster 2 hospitals. Let me take you through the key financial and operational developments for the quarter. Before we get to the numbers, I would like to point out that we have modified the reporting of a few financial metrics in our investor presentation to provide greater transparency and a more meaningful understanding of our core operating business performance. This format is also aligned with the majority of the analyst reports. We have now started reporting revenue as revenue from operations and EBITDA as operating EBITDA. Revenue from operations does not include other income, which is primarily interest income. Page 3 of 17 Global Health Limited – Medanta November 04, 2026 Operating EBITDA is defin [Showing first 8,000 characters — download PDF for full document]