Please find enclosed letter dated August 03, 2026

UPL Limited, Uniphos House, C.D. Marg, 11th Road, Madhu Park, Khar (West), Mumbai – 400052, India w: www.upl-ltd.com e: contact@upl-ltd.com t: +91 22 6856 8000 August 3, 2026 BSE Limited National Stock Exchange of India Ltd. Mumbai Mumbai SCRIP CODE – 512070 SYMBOL: UPL Sub.: Investor Presentation for Q1 FY 2027 Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the investor presentation for the quarter ended June 30, 2026. We request you to take the above information on records. Yours faithfully, For UPL Limited Sandeep Deshmukh Company Secretary and Compliance Officer (ACS-10946) Encl.: As above Cc.: 1. London Stock Exchange 2. Singapore Stock Exchange 3. NSE IX Registered Office: 3-11, GIDC, Vapi, Valsad - 396 195, Gujarat, India. P +91 260 2432716 CIN: L24219GJ1985PLC025132 UPL Limited Consolidated Financial Results and Business Update Q1FY27 Investor Presentation 03rd August 2026 Safe Harbor Statement This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of UPL Limited (UPL) and certain of the plans and objectives of UPL with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITDA and future developments in our organic business. Forward-looking statements can be identified generally as those containing words such as “anticipates”, “assumes”, “believes”, “estimates”, “expects”, “should”, “will”, “will likely result”, “forecast”, “outlook”, “projects”, “may” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, domestic and global economic and business conditions, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where UPL operates, industry consolidation and competition. As a result, UPL’s actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, please refer to the Risk Management Section of our Annual Report. Agenda Content I. Financial and Business Segment Key Macro Trends for the Quarter 4–5 Q1 Performance Update 6–19 Performance Dashboard 6–7 P&L Analysis: Revenue, EBITDA and PATMI 8–13 Balance Sheet Analysis: Working Capital, Net Debt and Leverage Ratios 14–18 Cash Flow Analysis 19 Platform-wise Q1 Performance Update 20–26 II. FY27 Guidance 27–28 III. Others (Non-Financial Enablers) 29–35 Group Strategy and ESG 30–31 Board of Directors and Leadership Team 33–34 Glossary of Key Terms 35 UPL Limited | Q1FY27 Update Key Macro Trends for the Quarter ▪ Ongoing geopolitical volatility and overall macro uncertainties ▪ El Niño impact on planting delays across major regions (e.g., India, Europe) ▪ Commodity prices improving, farm income stress continues across key regions ▪ Strong continued growth in specialty chemicals segment ▪ Stable demand in global crop protection and seeds, driving grower consumption ▪ Stable SOFR rate UPL Limited Q1FY27 | Key Corporate Updates Advanta IPO SEBI Approval received on 3rd June 2026 Re-organization of crop CCI Approval received on 2nd June 2026; no adverse observation protection businesses letter received from BSE and NSE on 29th July; process on track CARE Edge has upgraded UPL Ltd. long-term rating to Ratings upgrade CARE AA+ (Stable) UPL maintains FTSE4Good index inclusion with ESG index inclusion improved ESG Score of 4.4 vs. 4.1 LY UPL Limited | Margin expansion trend across seven quarters Structural improvement in business quality led contribution and EBITDA margin expansion for the seventh consecutive quarter as . . . Contribution margin EBITDA margin Quarters CY LY Change CY LY Change Q1FY27 45.2% 43.4% ▲ 14.7% 14.1% ▲ Q4FY26 38.6% 38.1% ▲ 21.9%(1) 20.8% ▲ Q3FY26 42.6% 41.0% ▲ 19.8% 19.8% ▲ Q2FY26 41.9% 37.7% ▲ 18.3% 14.2% ▲ Q1FY26 43.4% 39.5% ▲ 14.1% 12.6% ▲ Q4FY25 38.1% 29.4% ▲ 20.8% 13.7% ▲ Q3FY25 41.0% 27.2% ▲ 19.8% 4.2% ▲ (1) Not considering one-off group provisions 6 UPL Limited Q1FY27 | Performance Dashboard Summary UPL delivers on guidance with further improved gearing; strong performance despite macro headwinds; seventh consecutive quarter of revenue and EBITDA growth; strongest Q1 net income (PATMI) in past three years Q1FY27 vs. LY Q1FY27 vs. LY $2,498 Mn | $2,492 Mn ₹10,181 cr | +10% Maintained Revenue Net Debt V: (3%) | P: +3% | F: +10% ₹23,649 cr | ₹21,371 cr Contribution ₹4,607 cr | +15% Net Debt II II 2.4x | 2.6x Margin 45.2% | +180 bps / EBITDA(1) EBITDA ₹1,500 cr | +15% Net Debt III III 0.6x | 0.6x Margin 14.7% | +60 bps / Equity(1) NWC Days(1) 110 Days | 86 Days IV PBT (₹109 cr) | (₹190 cr) IV Q1FY26 NWC (₹) ₹15,941 cr | ₹11,025 cr PATMI ₹10 cr | (₹88 cr) Q1FY26 Op. PATMI ₹19 cr | (₹78 cr) Q1FY26 (1) Calculated on TTM basis 7 P&L Analysis UPL Limited Q1FY27 | Performance Summary Strongest Q1 revenue and EBITDA growth in past four years; continued margin expansion led highest PATMI (up by ~₹100 cr vs. LY) in past three years Particulars (₹ cr) Q1FY26 Q1FY27 Change YoY Revenue 9,216 10,181 10% • V: (3%) | P: +3% | F: +10% Contribution 4,001 4,607 15% • Volume decline in crop protection segment; strong growth (vol. pricing) in Advanta and SSC segments Contribution Margin (%) 43.4% 45.2% +180 bps Revenue • Favourable pricing action in key crop protection SG&A 2,698 3,107 15% geographies (e.g., India, Europe) EBITDA 1,303 1,500 15% • Broad-based growth across regions EBITDA Margin (%) 14.1% 14.7% +60 bps Other (income) (38) (76) n.m. Contribution • Improved capacity utilization, overall pricing Depreciation & amortization expenses 731 832 14% and margin and favorable portfolio mix Net exchange difference 178 143 (19%) Share of loss/ (profit) from associates and JVs (18) 83 n.m. Exceptional items 9 9 flat • Strong growth led by higher revenue Net finance costs 631 618 (2%) EBITDA and margin expansion PBT (190) (109) n.m. Taxation (14) (36) n.m. PAT (176) (73) n.m. Non-controlling interests (89) (84) n.m. Operational • Positive, driven by EBITDA growth and supported by PATMI lower net finance cost and net exchange difference PATMI (88) 10 n.m. Operational PATMI (78) 19 n.m. UPL Limited Q1FY27 | Revenue: Platform-wise Analysis Strong overall positive pricing, supported by FX; significant volume growth in Advanta and specialty chemicals segment Q1 Platform-wise Revenue(1)(₹ cr) YoY +10% +7% positive +26% +14% 10,181 9,216 6,374 5,957 2,558 2,919 1,136 1,140 1,396 1,754 UPL Ltd. UPL Corp UPL SAS Advanta SUPERFORM • V: (7%) | P: flat | F: +14% • V: +12% | P: +10% | F: +4% • Volume pressure due to unfavourable weather in Europe; UPL Corp Advanta(2) • Strong growth led by field corn (India, Indonesia, overall pressure in Latin American countries Latin America), rice (India) and sunflower (Argentina) • Positive pricing in Europe, North America and APAC regions • V: (8%) | P: +8% | F: flat • V: (2%) | P: +16% | F: flat UPL SAS • Low vol. impact due to delayed weather offset by SUPERFORM • Spechem vol. growth (+17% vs LY), lower AI vol. ( [Showing first 8,000 characters — download PDF for full document]