Analysts/Institutional Investor Meet/Con. Call Updates

10th November, 2026 To To The General Manager (Listing), The General Manager (Listing), National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C 1/G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai. Bandra (East), Mumbai. Reference: NSE-SCRIP ID: POWERGRID; BSE Scrip Code: 532898 EQ – ISIN INE752E01010 Sub.: Transcript of Analysts’ and Institutional Investors’ Meet held on 03rd November, 2026. Dear Sir, In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find enclosed herewith copy of Transcript of Analysts’ and Institutional Investors’ Meet, held on 03rd November, 2026 (FY 2026-27) at Mumbai. Thanking You. Yours faithfully, (Anjana Luthra) Company Secretary & Compliance Officer Encl.: As above. Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI0381 21 Website: www.powergrid.in Power Grid Corporation of India Limited Transcript of Analysts’ and Institutional Investors’ Meet (For 2nd Quarter & Half Year ended 30th September, 2026) Tuesday, 03rd November, 2026, 15:00 Hrs. (India Time) Management Shri Vamsi Rama Mohan Burra Chairman & Managing Director Dr. Yatindra Dwivedi Director (Personnel) Shri Amol Taori Director (Finance) & CFO Shri Akhilesh Pathak Director (Projects) Shri Pankaj Pandey OSD (Operations) Company Secretary & Compliance Officer Smt. Anjana Luthra Transcript of Analysts’ and Institutional Investors’ Meet  Shri Bakul Gala - Sr. Vice President, Adfactors PR:  Thank you all. Before we commence the session, we have an opportunity to wish all of you a very Happy Diwali and a prosperous new year in advance. I would now take your permission, Sir, to start the proceedings. On behalf of Power Grid Corporation of India Ltd., we welcome you to the Analyst Meet organised to discuss the Company’s performance and the way forward post the declaration of financial results for the 2nd Quarter, as well as H1 that ended on 30th September, 2026 and to interact with the analysts out here. To formally commence today’s proceedings, I now invite Smt. Anjana Luthra ji, she is the Company Secretary and Compliance Officer. She will introduce the dignitaries on the dais and also initiate the proceedings. Over to you.  Smt. Anjana Luthra - Company Secretary and Compliance Officer  Thank you, Bakul. Good afternoon, everyone. Today, we have our senior management team of POWERGRID with us to discuss the Company’s performance and business outlook post the declaration of Q2 and H1 FY 2026-27 financial results. Now, I would take this privilege to introduce our senior management team. To start with:  Shri. Vamsi Rama Mohan Burra, Chairman and Managing Director;  Dr. Yatindra Dwivedi, Director (Personnel);  Shri Amol Taori, Director (Finance);  Shri Akhilesh Pathak, Director (Projects); and  Shri Pankaj Pandey, OSD (Operations).  So, we will commence today’s proceedings with a corporate video of the Company. Can we have the video, please? AV Plays: (3:30 – 8:10)  Smt. Anjana Luthra:  Thank you.  Now, I invite Shri Vamsi Rama Mohan Burra, CMD, POWERGRID, to share his opening remarks and also presentation on the Company. Over to you, Sir.  Shri Vamsi Rama Mohan Burra - Chairman and Managing Director:  Good afternoon, everyone. I am extremely pleased to be before you along with my entire Board, with our newly appointed Director (Finance), Mr. Amol ji, our Director (Projects), Mr. Pathak ji, and our Director (Operations) Designate, Mr. Pandey, along with our Director (Personnel), Dwivedi ji.  I’d like to introduce, once again, a high-quality infrastructure Company entering into its next phase of growth, that is what POWERGRID is. Riding on our experience in maintaining one of the largest transmission utilities in the world and aptly recognized in the highest quadrant in terms of maintenance of the transmission systems, this is what the Company, what we want to introduce POWERGRID as. And with a substantial and strong investment pipeline owing to the energy transition and renewable energy integration, and more importantly, the intense growth of electricity. I should say, more appropriately, electricity-intensive growth, what is happening now, both in the industry, agriculture, transport, digitalization, and all these efforts, by and large, electricity-intensive growth, which is going to propel the growth of the generation and the offshoot is transmission. Because transmission is a common denominator for the movement of electricity from point to point. The mobility, as I always say, the mobility to electricity is given by the transmission line or the system only. That is the industry where we are working in.  Known for its financial discipline and highly competent and dedicated workforce, execution capability, including 765 kV order, one of the highest transmission voltage levels, and also the HVDC projects remotely, or in one of the most toughest conditions. In one single shot, what we should say, the projects are being commissioned. And opportunities for sustained earnings and expansion, and roadmap for long-term growth and shareholder value. I wanted to place this before you, so I take this opportunity to run a small presentation on this. The disclaimer over here. We’ll be trying to cover the highlights and overview, execution and operations, competition, what is there in the sector, order pipeline and outlook, financial performance, sustainability, and recognitions. In this pattern, we would like to go forward.  As you are aware, we are about ₹3.29 lakh crore of the fixed assets, going much beyond the ₹3 lakh crore which was there some time back. 1.87 lakh circuit kilometres, almost 6.5 lakh MVA transformation capacity, and availability continues to be in the order of 99% plus.  The shareholding pattern continues to remain the same in terms of the shareholding. ₹2.42 lakh crore is the market cap.  The credit profile, on the domestic front, highest safety, and on the international front, at par with the sovereign rating.  The SPV rationalisation also has been undertaken as part of governance, given the nature of the TBCB projects, where every time we win a project, a new TBCB Company adds up to as a new SPV. So, we try to consolidate them. And one of the fastest approvals in the CPSE domain is what we have got recently. So, 28 SPVs have been merged into two SPVs so that it is a better way of governance of the projects.  Major elements which have been commissioned in Q2 FY27: 981 circuit kilometres of transmission lines and 14,600 MVA transformation capacity. Importantly, the 765 kV transmission lines are Koppal-II PS – Raichur in Karnataka; Bidar PS – Maheshwaram, a link between the Karnataka state and closer to the Hyderabad Maheshwaram; and Sikar-II – Khetri, an important line in the Rajasthan belt. Our new substations are, Koppal– II and Bidar and on the 400 kV transmission lines, Bikaner II – Bikaner-III in Rajasthan.  If you look into the H1 FY26-27, 2,616 circuit kilometres of transmission lines, 25,100 MVA capacity, what has been coming over there. And the complete TBCB SPV projects which have been commissioned over here are the Ramgarh–II Transmission system and the Bidar transmission system. So, like in a TBCB project, multiple elements are there. We are saying that the entire project what has been entrusted to the TBCB has been completed; not one or two elements under the project, all the elements which are concerned with that, these two projects have also been commissioned. Apart from that, after September ‘26, major elements commissioned are the 765 kV Koppal-II PS –Narendra (New) line, one of the toughest and challenging lines, and the 400 kV Koppal-II PS –Gadag-II PS, linking two of the pooling stations for the RE [Showing first 8,000 characters — download PDF for full document]