Investor Presentation

Ref: BLACKBUCK/CORP/2026-27/57 July 29, 2026 To To National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai – 400051 Mumbai – 400001 Scrip Code: 544288, Scrip Symbol: BLACKBUCK, Series – EQ ISIN- INE0UIZ01018 Dear Sir/ Madam, Sub: Investor Presentation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. In continuation of our letter dated July 23, 2026 regarding Analyst/Institutional call scheduled on July 29, 2026 at 05:00 PM. We are enclosing herewith Investor Presentation for the quarter ended June 30, 2026. The above information shall also be made available on the Company's website at https://a.blbk.in/Financials_Information Kindly take the above information on record. Thanking you Yours Sincerely, For BlackBuck Limited (Formerly known as Zinka Logistics Solutions Limited) Barun Pandey Company Secretary and Compliance Officer Membership No: A39508 Q1’FY27 Earnings Presentation Snapshot of Q1’FY27 ₹ 220.48 Cr. ₹ 49.71 Cr. ₹ 42.17 Cr. Total Income1 EBITDA2 PAT3 ▲ 38% YoY ▲ 23% YoY ▲ 25% YoY 883,386 458,919 ₹ 7,045 Cr. Transacting Customers Users (>=2 Services) GTV Tolling ▲13% YoY ▲ 19% YoY ▲ 16% YoY 1. Total Income is defined as Total Income as per Statement of unaudited consolidated financial results 2.EBITDA is defined as profit before tax and adjusted for (a) other income (b) finance costs (c) depreciation and amortisationexpense and (d) exceptional item 3.PAT is defined as profit for the period as per Statement of unaudited consolidated financial results 2 Our Strategy Offerings + Vehicle Fuel Vehicle Loads Fuel Tolling Superloads Fleet Docs Pipeline Tracking Payments Finance Classified Sensor 883K+ 44 Mins BlackBuckPlatform Transacting Customers Daily App Usage Truck Operator’s Lifecycle 10K+ 80%+ Distribution Physical Touchpoint Districts Presence Network Key KPIs METRICS Q1’FY27 Q1’FY26 YoY Q4’FY26 QoQ Average monthly transacting truck operators Units 883,386 783,399 13% 866,091 2% Monthly transacting users using at least two Units 458,919 386,351 19% 441,874 4% services Time spent on App daily by transacting customers Minutes 44.11 43.80 1% 45.01 (2%) Gross transaction value of tolling ₹ in Cr 7,045 6,073 16% 7,094 (1%) Total number of tolling transactions Units in Cr 17.84 15.88 12% 18.30 (3%) Revenue from operations ₹ in Cr 204.17 143.61 42% 185.43 10% Net revenues1 ₹ in Cr 165.03 131.85 25% 159.86 3% Contribution margin2 ₹ in Cr 152.74 122.20 25% 149.90 2% Contribution margin % (% of Net Revenue) % 93% 93% 94% Adjusted EBITDA3 ₹ in Cr 54.62 47.21 16% 50.20 9% 1. Net revenues is defined as Revenue from operation as per Statement of unaudited consolidated financial results (-) Revenues of superloads business (+) Gross margin of superloads business 2.Contribution margin is defined as Revenue from operations as per Statement of unaudited consolidated financial results excludingsuperloads business (-) Direct costs associated with delivering service activities 3.Adjusted EBIDTA is defined as profit before tax adjusted for (a) finance costs (b) depreciation and amortization expense (c) employee share-based payment expenses (d) other Income and (e) exceptional item Key Highlights • Revenue fromoperations grewby42%Y-o-Yand10%Q-o-QinQ1’FY27 o Corebusinessesgrewby21%Y-o-YinQ1'FY27whilenavigatingindustryheadwinds ✓ Tollingbusiness continued todeliver strongperformance withGTVgrowthof~16%Y-o-Y ✓ Telematics delivered highesteverquarterlysaleofnewdevices;effectively leveraging theindustry tailwinds o Growth businesses grew by 153% Y-o-Yand 44% Q-o-Q in Q1’FY27 ✓ In Superloads business, the existing-cities compounded strongly on productivity gains led by AI initiatives while stronggrowthmomentumhasbeenestablishedinnew-cities • Adjusted EBIDTAgrew16%Y-o-YinQ1’FY27to54.62Cr o Corebusinesses continuedtogrowonprofitabilityandoperatingcashflowsdespite macroheadwinds o Calibrated step-up of investments in Superloads continued during the period; Vehicle Finance continues to converge towardsprofitability P&L Overview METRICS Q1’FY27 Q1’FY26 YoY Q4’FY26 QoQ Total Income ₹ in Cr 220.48 159.56 38% 199.57 10% Revenue from operations ₹ in Cr 204.17 143.61 42% 185.43 10% -Core (Payments & Telematics) ₹ in Cr 145.18 120.26 21% 144.42 1% -Growth businesses ₹ in Cr 58.99 23.35 153% 41.01 44% Net Revenues1 ₹ in Cr 165.03 131.85 25% 159.86 3% Direct costs ₹ in Cr 12.29 9.65 27% 9.96 23% Contributionmargin2 ₹ in Cr 152.74 122.20 25% 149.90 2% Contributionmargin %(% of Net Revenues) % 93% 93% 94% Total expenses ₹ in Cr 98.12 74.99 31% 99.70 (2%) Adjusted EBITDA3 ₹ in Cr 54.62 47.21 16% 50.20 9% EBITDA4 ₹ in Cr 49.71 40.40 23% 45.06 10% PBT ₹ in Cr 42.12 45.74 (8%) 40.37 4% PAT ₹ in Cr 42.17 33.70 25% 65.73 (36%) 1. Net revenues is defined as Revenue from operation as per Statement of unaudited consolidated financial results (-) Revenues of superloads business (+) Gross margin of superloads business 2. Contribution margin is defined as Revenue from operations as per Statement of unaudited consolidated financial results excludingsuperloads business (-) Direct costs associated with delivering service activities 3. Adjusted EBIDTA is defined as profit before tax adjusted for (a) finance costs (b) depreciation and amortization expense (c) employee share-based payment expenses (d) other Income and (e) exceptional item 4. EBITDA is defined as profit before tax adjusted for (a) finance costs (b) depreciation and amortization expense (c) other Incomeand (d) exceptional item Annexures Annexure 1: PAT to Adjusted EBITDA Walk and ESOP Expense Projection PAT to Adjusted EBITDA Walk ESOP Expense Projection (in INR Cr.) (in INR Cr.) Particulars Q1’FY27 Quarters ESOP charge in P&L* Profit after tax (PAT) 42.17 Q2’FY27 4.37 Less: Q3’FY27 3.38 Other income 16.31 Add: Q4’FY27 2.45 Income tax expense (0.04) Q1’FY28 2.12 Finance costs 1.36 Q2’FY28 2.10 Depreciation and amortisation expense 22.54 EBITDA 49.71 Q3’FY28 1.68 Add: Q4’FY28 1.20 Employee shared-based payment expenses 4.90 Adjusted EBITDA 54.62 Q1’FY29 1.03 * ESOP Charge is projected assuming no further grants and estimates regarding attrition rate. The attrition rate is based on historical and other factors including expectation of future events. 8