Transcript of the Post Earnings Conference Call for the quarter and half year ended September 30, 2026

Ref: STL/SEC/2026-27/DT-44 November 10, 2026 The Manager, The Manager, Listing Department, Listing Department, BSE Limited National Stock Exchange of India Limited P J Towers, 1st Floor, Bandra Kurla Complex, C-1, Block G, Dalal Street, Mumbai – 400001 Bandra (East), Mumbai – 400051 Scrip Code: 537259 Symbol: SUYOG Dear Sir/Madam, Sub: Transcript of Post Earnings Conference Call for Quarter and Half-Year Ended September 30, 2026 under SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (“SEBI Listing Regulations”) Pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations, we are enclosing herewith transcript of post earnings conference call held on Thursday, November 05, 2026 at 02:00 p.m. (IST) to discuss the Un-audited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2026. The aforesaid transcript is also being made available on the website of the Company at www.suyogtelematics.co.in. Request you to take the same on record. Yours faithfully, For Suyog Telematics Limited Aarti Shukla Company Secretary & Compliance Officer Encl.: A/a SUYOG TELEMATICS LIMITED Q2 & H1 FY27 POST EARNINGS CONFERENCE CALL November 5, 2026, 2:00 PM IST Management Team Mr. Shivshankar Lature - Managing Director Mr. Tushar Shah - Business Head (India) Mr. Ajay Sharma - Chief Financial Officer Call Coordinator Strategy & Investor Relations Consulting Disclaimer: E&OE- This Transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the exchange on November 05, 2026 will prevail. Suyog Telematics Limited Q2 & H1 FY27 Post Earnings Conference Call November 5, 2026 Presentation Moderator: Ladies and gentlemen, on behalf of Kaptify Consulting Investor Relations Team, I welcome you all to the Q2 and H1’FY27 Post Earnings Conference Call of Suyog Telematics Limited. Today on the call from the management team, we have with us Mr. Shivshankar Lature, Managing Director, Mr. Tushar Shah, Business Head, India and Mr. Ajay Sharma, Chief Financial Officer. As a disclaimer, I would like to inform all of you that this call may contain forward looking statements, which may involve risk and uncertainties. Also, this is a reminder that this call is being recorded. I would now request the management to detail us about the business and performance highlights for the period ended September 2026, the growth perspective and vision for the coming years, post which we will open the floor for Q&A. Over to the management team. Tushar Shah: Good afternoon, everyone. I would like to wish Happy Diwali and a Prosperous New Year to all, each and every shareholder who have attended this call. We have kept this time’s presentation very brief to a point so that we can have more time for Q&A. Because every time I think there are people who are not able to ask the questions, so we have kept -- we have removed the repeated slides of the presentation. We have kept it very brief. So, this presentation is for the Q2 numbers or H1 FY27 you can say. So, we continue to have maximum revenue from Bharti Airtel, which is around 48.5% in H1, followed by Jio is contributing to 19.5%, Vodafone is contributing to 30%, which is a significant increase of 3% compared to last quarter. And BSNL revenues decreased from 2.5% to 1.1%, which is a very healthy sign for our financials that BSNL contribution is going down and Vodafone is increasing the contribution in our revenue share. We have now ended Q2 at a total tower of 6,263 unit towers, which has 7,674 tenancies. My maximum tenancies come as a macro site. Due to it, there is a marginal increase in sponsored tenancies, which has gone up to 4,129 and we have done around 20 plus government sites tenancy in H1. We have laid around 200 plus kilometre fibre in H1. So, now my fibre span is 6,510 kilometres across India. Currently, we are already working on 2,000 plus additional sites from Vodafone Idea across India, which will be deployed as and when as per the VI requirement and business plan, which we keep receiving on a monthly basis and quarterly basis from Page 2 of 19 Suyog Telematics Limited Q2 & H1 FY27 Post Earnings Conference Call November 5, 2026 Vodafone. So, I think most of you are aware, but this is only for a new shareholder, if there is anyone who has joined the call. We follow a very simple business model. We take land or land building space on a lease from the site owner. We invest our CapEx, we build our tower and we service that tower to mobile operator for active installation. So, it's a very basic model where we take higher space on lease, invest CapEx, build tower, construct tower and we service it to operator. So, which in our scope includes tower, power and fibre. So how do we have the entire process of building a site? We have master service segment with all the four mobile operators. They are the one who will give us the nominal land ground where they want the tower. Basis of the land ground, my team will go and identify suitable land parcel or a terrace space for the tower. Once we get a principle word from the landowner or a building society, we go back to the operator, these are the locations where we can build tower for you. Their technical team will go and confirm whether that location is suitable, what type of site they want, whether tower power, whether the tower on ground- based site, what height of site, everything. On receiving technical word from operator, we go back to site owner who will enter an agreement and then we start our project work. We need around 21 days to build rooftop site and around 45 days to build -- 30 to 45 days to build ground-based site. Once we complete our tower in action along with power and fibre, we declare it RFI for mobile operator. Mobile operator will then come and install the active equipment like VTI, GSM antenna, and we will integrate this site. Once that site is integrated, we share the same nominal to other mobile operators and if they require, we can give same tower to share, as a sharer to the other operator. We can easily accommodate four operators every tower. So, that's the model which we follow. That's the industry standard model which everyone follows in the industry. Best part of that model is, even before investing a single rupee, we know ROI. Because unless we receive one service order from any of the operator, we do not invest a single rupee on the site. So, that's the beauty of this model. Like I said, always we work with all the four mobile operators and we have different types of charges. IP fee, infrastructure provider fee is the basic charge which we get for the CapEx which we are investing. It's predefined in master service agreement, basis on the site type, height of site and different parameters. Site rentals are the rentals which we Page 3 of 19 Suyog Telematics Limited Q2 & H1 FY27 Post Earnings Conference Call November 5, 2026 pay to landowner or a building society which is reimbursed from operator on bank-to-bank basis. Loading charges, see right now, suppose I'm installing 4G sites for Bharti Airtel. Tomorrow Airtel wants to come and do 5G, 6G. They need to pay me additional space charges, additional antenna charges, additional power charges. All these loading charges are predefined in MSA. I don't need to go and negotiate for any site with them. And fourth one is electricity and diesel charges which is again reimbursed on actual basis from operator. IP fee, site rental and loading charges become part of my -- and now even electricity charges have become part of my top line. And all my MSAs are for 15 to 20 years with 2.5% in-built escalation on IP fee and loading charges. We work with all the four mobile operator, it's Airtel, Vodafone Idea, Jio and BSNL. Now I just want to give you a brief about what's lying for a telecom industry going forward. As you all know, Vodafone has made their investment of INR 45,000 crore CapEx in coming 18 to 24 months for w [Showing first 8,000 characters — download PDF for full document]