Transcript of Earning Call on the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026.

July 28, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scrip Code: 542066 Scrip Code: ATGL Sub: Transcript of Earnings Call pertaining to the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2026 Dear Sir / Madam, In continuation to our intimation dated July 22, 2026, please find below web link of transcript of the Earnings Call on Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2026 held on July 22, 2026. Web link to access above transcript is as under: https://www.adanigas.com/-/media/Project/AdaniGas/Investors/Financials/Earnings- Call-Transcript-and--Recordings/AdaniTotal-Earnings-Jul22-2026.pdf Copy of the said transcript is also attached herewith. Kindly take the same on your records. Thanking you, Yours faithfully, For Adani Total Gas Limited Anil Agrawal Company Secretary Encl: As above. Adani Total Gas Limited Tel : +91 79 6624 3200 (Formerly known as Adani Gas Ltd) Fax: +91 79 2754 2988 Crest 4-5, Inspire Business Park investor.agl@adani.com Shantigram, Nr. Vaishnodevi Circle, www.adanigas.com S.G.Highway, Ahmedabad – 382 421 Gujarat, India CIN: L40100GJ2005PLC046553 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421 “Adani Total Gas Limited Q1 FY27 Earnings Conference Call” July 22, 2026 MANAGEMENT: MR. SANJAY PANDITA –CHIEF EXECUTIVE OFFICER – ADANI TOTAL GAS LIMITED MR. PREYASH JHAVERI – INTERIM CHIEF FINANCIAL OFFICER – ADANI TOTAL GAS LIMITED MR. RAVINDRA DESAI – HEAD OF GAS SOURCING AND BUSINESS DEVELOPMENT – ADANI TOTAL GAS LIMITED MR. ADISH VAKHARIA – INVESTOR RELATIONS – ADANI TOTAL GAS LIMITED Page 1 of 8 Adani Total Gas Limited July 22, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Adani Total Gas Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will remain 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. Please note that this conference is being recorded. From Adani Total Gas, we are joined on the call by Mr. Sanjay Pandita, CEO; Mr. Preyash Jhaveri, Interim Chief Financial Officer; Mr. Ravindra Desai, Head of Gas Sourcing and Business Development. I will now hand the conference over to Mr. Sanjay Pandita, Chief Executive Officer of Adani Total Gas Limited for opening remarks. Thank you, and over to you, sir. Sanjay Pandita: Thank you so much and good morning to all our investors, analysts and fund representatives. A warm welcome to all of you today to join and discuss the results of Adani Total Gas for the quarter ended 30th June 2026. Let me take this opportunity to briefly share the current business operating environment. During the first quarter, geopolitical issues in West Asia continued to influence local energy markets, leading to elevated Brent-linked gas contract prices, further affected by U.S. INR currency depreciation. However, government's timely interventions with additional gas allocation and expansion on waiver imbalances and system, disciplinary charges helped to maintain uninterrupted gas supplies to our consumers. Navigating these fluctuations, ATGL ensured uninterrupted supplies of gas to its consumers. This strategic approach has driven another quarter of resilient operational growth during the quarter, gas sales volume reached 303 MMSCM, reflecting a robust growth of 13% year-on- year, led by 18% year-on-year growth in CNG segment and 4% year-on-year growth in PNG segment. At the same time, steel pipeline expanded to 15,987-inch kilometres further strengthening our distribution network to support future growth. During the quarter, we added 38,000 new households’ connection, taking our total customer base to 11.41 lakh households in domestic segment. On CNG segment front, we added 5 new CNG stations with our total network of 707 CNG stations currently. We added 392 commercial customers and 56 industrial customers, which is almost 3x and 2x increase, respectively, over the same period last year. Our customer base now stands at 10,422 in industrial and commercial segment. On E-Mobility business vertical, our EV charging network expanded to 5,306 charging points within installation capacity of 58 megawatts. We sold 3.3 million electrons during the quarter and delivered robust growth of 100% year-on-year basis. This strong momentum reinforce our confidence in achieving our targets of 10,000 EV charging points, with continued focus on improving network utilization and operational efficiency. Page 2 of 8 Adani Total Gas Limited July 22, 2026 Our joint venture partner, IOAGPL continues to expand in their 19 geographical areas meaningfully. Together, we operate across 53 geographical areas, which represents 14% India's population, spanning across 125 districts, combined customer base stands at 13.74 lakhs CNG households, 12,326 commercial and industrial customers and our CNG network stands at 1,167 stations. These customs are served by a robust steel pipe network of 28,600-inch kilometres. Our strong operational execution was reflected in our financial performance with revenue growth at a rate of -- growing at the rate of 27% year-on-year to INR1,908 crores during the quarter and EBITDA stands at INR281 crores. On sustainability side CareEdge and CRISIL ESG ratings have increased to 84 and 66 out of 100, respectively, thus placing ATGL among the best performing ESG companies in the peer group. Dear shareholders, ATGL is accelerating its evolution from a city gas and distribution company into one of the India's most trusted integrated clean energy platforms serving homes, mobility, industries and communities with affordable, reliable and sustainable energy solutions. Thank you so much and we now invite the questions to take it forward. Moderator: Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. We take the first question from the line of Sridhar from Prasid Capitals. Please go ahead. Sridhar: First of all, congratulations for the high revenue. And my question was over the last 6 to 8 quarters, despite the consistent double-digit revenue growth, the operating margins have compressed from around 25% to 15% now and operating profit and net profit has remained largely flat. Could management explain the key reason for this sustained margin compression? Is this primarily due to gas sourcing costs and the APM allocation or are there any structural factors? More importantly, when do you expect margins to recover? Adish Vakharia: Sorry to interrupt. Pardon, actually your voice is not clear. Can you just speak from some distance, I think that would be helpful. Sridhar: Is it fine now? Sanjay Pandita: Yes. Ravindra Desai: A bit better but if you can move a little bit apart, then probably that would help better, still better than the last one, but if you can move a bit far. Sridhar: So, my question is, over the last six to eight quarters, despite the consistent double-digit revenue growth, the operating margins have compressed from around 25% to 15% and operating profit and net profit have remained largely flat. Could management explain the key reasons for this sustained margin compression? Is this primarily due to gas sourcing costs and the APM allocation or are there any structural factors? More importantly, when do you expect margins to recover? Sanjay Pandita: Yes, primarily one of the major reasons in terms of these compressed margins is on the gas availability on a market driven prices. And second is APM allocation, yes, it is going slowly Page 3 of 8 Adani Total Gas Limited July 22, 2026 down. They are the major reasons. And in terms of [Showing first 8,000 characters — download PDF for full document]