Analysts/Institutional Investor Meet/Con. Call Updates

November 10, 2026 National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, Dalal Street, Complex Bandra [E], Mumbai – 400051 Fort, Mumbai -400 001 NSE Scrip Symbol: BLSE BSE Scrip Code: 544107 SUBJECT: Transcript of Earnings Call held on November 4, 2026 Dear Sir/ Ma’am, Please find enclosed a transcript of the Earnings Call held on Wednesday, November 4, 2026 to discuss the operational and financial performance of the Company for the quarter ended on September 30, 2026. The transcript is also available on the Company’s website at https://blseservices.com/investor- relations/schedule-of-investors-meet You are requested to take the same on your records. Yours Faithfully, For BLS E-Services Limited Neha Baid Company Secretary & Compliance Officer ICSI Membership No. A - 33753 Encl: as above BLS E-Services Limited Q2 and H1 FY27 Earnings Conference Call November 04, 2026 MANAGEMENT: MR. ASHISH MISRA – DEPUTY CHIEF EXECUTIVE OFFICER MR. RAHUL SHARMA – EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER MR. LOKANATH PANDA – CHIEF OPERATING OFFICER MR. NIKHIL GUPTA – MANAGING DIRECTOR – BLS INTERNATIONAL SERVICES LIMITED MR. AMIT SUDHAKAR – CHIEF FINANCIAL OFFICER – BLS INTERNATIONAL SERVICES LIMITED MR. VIKAS LUHACH – INVESTOR RELATIONS Page 1 of 6 BLS E-Services Limited November 04, 2026 Moderator: Ladies and gentlemen, good day and welcome to the BLS E-Services Limited’s Q2 and H1 FY27 Earnings Conference Call. 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, followed by 0 on your touchtone phone. Before we begin, let me remind you that this discussion may contain forward-looking statements that may involve known or unknown risk, uncertainties, and other factors. It may be viewed in conjunction with the business risk that could cause future results, performance, or achievements to differ significantly from what is expressed or implied by such forward-looking statements. Today from the management, we have with us Mr. Ashish Misra, Deputy Chief Executive Officer, Mr. Rahul Sharma, Executive Director and Chief Financial Officer, Mr. Lokanath Panda, Chief Operating Officer, Mr. Nikhil Gupta, Managing Director of BLS International Services, Mr. Amit Sudhakar, Chief Financial Officer of BLS International Services, and Mr. Vikas Luhach, from Investor Relations. I now hand the conference over to Mr. Ashish Misra from BLS E-Services Limited. Thank you, and over to you. Ashish Misra: Good morning, everyone, and thank you for joining us on the BLS E-Services first earnings call. We hope you had the opportunity to review Q2FY27 results, press release and investor presentation uploaded on the stock exchanges well as on our website. As we are conducting the conference call for the first time and we may have new investors following our story, I would like to begin by spending a few minutes on what we do, how we have grown, and where we are headed. Then I will take you through the quarter's results. BLS E-Services was set up in 2016 as part of the BLS Group with a simple belief that every Indian, wherever they live, should have easy access to banking, credit, and government services. Millions of people in rural and semi-urban India still live far from a bank branch or a government office. For them, a trusted service point in their own village or neighborhood makes a real difference to everyday life. The BLS Group already had deep experience in running large technology- enabled citizen services for the governments. We saw an opportunity to apply that same strength at home by building a network that brings formal financial and public services to the last mile. That remains our purpose today. We operate through our 4 business segments. The first business segment is our largest, which is the Business Correspondence Services. We act as a banking outlet for our partner banks in villages and small towns, offering account opening, deposits, withdrawals, remittances, pensions, and government benefit payments. Page 2 of 6 BLS E-Services Limited November 04, 2026 Our second segment is loan disbursement, where through Aadifidelis, and our BC network, we source and process loans for banks and NBFCs and connect lenders with rural and semi-urban borrowers. Our third segment is e-governance. Here we work with state governments to deliver citizen services such as Aadhaar enrollment, land records, utility bill collection, and welfare support schemes. Our fourth segment is assisted e-services. Here local merchants use our platform to offer insurance, bill payments, railway bookings, telemedicine, and education services to their customers. Now behind all our 4 segments is one operating model which is asset-light and merchant-led. Our touchpoints are owned or run by local entrepreneurs who invest in their own premises and equipment. We provide the technology platform, the BLS brand, training, and the partnerships with banks, financial institutions, and governments. This model has 3 clear advantages. First, it allows us to expand quickly without large capital spending. Second, our technology costs are shared across a very large network, so profitability improves as volumes grow. Third, customers come to us through trusted local merchants, which means we spend very little on customer acquisition. Our revenue is also well diversified. It comes from transaction commissions, loan distribution income, registration and renewal fees, and multi-year government contracts. No single stream dominates. Which makes the business more resilient. What sets us apart now? Several things set BLS E-Services apart. First, we built one of India's largest last-mile networks over many years of on-ground work, and this reach is difficult and time-consuming for anyone else to replicate. Alongside this, we have long-standing relationships with public and private sector banks, NBFCs, insurers, and several state governments built on trust and consistent delivery. Next, because every touchpoint can earn from multiple services, each new product we add brings in revenue without adding much cost. We also have proven acquisition track record with every acquisition integrated successfully and adding both scale and earnings. Finally, we have a strong debt-free balance sheet and the backing of the BLS Group, which gives us the flexibility to keep investing for growth. Now, if you look at the growth of our business, it has come from steady organic expansion combined with carefully chosen acquisitions. We began our journey with focus on assisted digital and citizen services. In 2018, we acquired Starfin India, which gave us our business correspondent platform and remains the backbone of our banking business today. In 2022, we acquired Zero Mass, which significantly scaled our BC network and reach. In the same year, we also acquired BLS Kendras, which strengthened our government-to-citizen Page 3 of 6 BLS E-Services Limited November 04, 2026 services. In 2024, we listed on the NSE and BSE after a successful IPO and acquired a majority stake in Aadifidelis Solutions, marking our entry into loan disbursement business. More recently, in July 2026, we completed the acquisition of Atyati Technologies, which further increased our scale in the business correspondent business. Each step has added a new capability or a step change in reach. Over this period, we have grown from a single service provider into multi-service platform that today serves banks, NBFCs, insurers, state governments, and millions of citizens. Let me now give you a quick update on our business. Our loan distribution business together with Aadifidelis Solutions continues to be an important growth engine. Credit demand in rural and semi-urban India is strong, and our network gives lenders reach th [Showing first 8,000 characters — download PDF for full document]