Investor Presentation Q1 FY27

August 05, 2026 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot no. C/l Dalal Street, G Block, Bandra-Kurla Complex Mumbai- 400 001 Bandra (E), Mumbai - 400 051 BSE Scrip Code: 532348 NSE Symbol: SUBEXLTD Dear Sir/Madam, Sub: Subex Limited “The Company”- Investor Presentation for Q1 FY27 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Investor presentation for Q1 of FY27 for the Earnings Call scheduled to be held on Thursday, August 06, 2026, at 11:00 A.M. (IST). This is for your information and records. Thanking you Yours faithfully, For Subex Limited Ramu Akkili Company Secretary & Compliance Officer Encl: as above Subex Limited Investor Presentation 5th August 2026 Agenda Financial Updates Business Highlights Quarterly Results – Q1FY27 Financial Highlights Revenue in ₹ lakhs • Q1FY27 revenue grew by 8.9% QoQ to ₹7,945 lakhs and YoY basis revenue grew by 19.6% • Normalized EBITDA improved to ₹1,687 lakhs in Q1FY27 as compared to ₹1,058 lakhs in Q4FY26, reflecting a growth of 59.5%, primarily supported by ongoing operational efficiencies and driven by accelerated execution of order backlog and achievement of 7,945 key billing milestones. 7,296 6,640 • Normalized EBITDA margin stood at 21.2% in Q1FY27 as compared 14.5% in Q4FY26, a growth of 640bps on QoQ basis. • Normalised PBT stood at ₹1,833 lakhs in Q1FY27 as compared to ₹1,438 lakhs in Q4FY26, a growth of 27.5% on QoQ basis. Q1FY26 Q4FY26 Q1FY27 • Normalised PAT % stood at 20.3% in Q1 FY27 vs 15.8% in Q4 FY26, driven purely by (₹ in Lakhs) operational performance and non operating gains. Q1FY26 Q4FY26 Q1FY27 Normalised EBITDA* 428 1,058 1,687 Other Information Normalised PBT* 1,506 1,438 1,833 • As on 30th Jun, 2026 our cash & cash equivalent stood at ₹18,480 lakhs as compared to Normalised PAT* 1,316 1,151 1,609 PAT Inc. Exceptional Items & Impairment ₹17,526 lakhs on 31st March, 2026, reflecting continued liquidity stability. 1,281 993 1,422 Allowance • The company received a tax refund of ₹288 lakhs in Q1FY27. *Excluding Exceptional Items & Impairment Allowance for Trade Receivables • Earning Per share in Q1FY27 stood at ₹ 0.26 vs ₹ 0.18 in Q4FY26. Revenue Metrices – Q1FY27 Revenue By Services Revenue By Region 32% 29% 29% 25% 23% 27% 29% 31% 33% 60% 60% 41% 40% 38% 14% 15% 13% Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 Managed Service License implementation and Customization America EMEA Support and others India APAC and ROW Business Highlights – Q1 FY27 • Won a new deal from European operator for BAFM • Tier 1 Operator in Middle East renewed Managed Services and License • African operator renewed Managed Services for BAFM • Refocus on PEM has started to deliver results Growth • We participated in industry led thought leadership event by GSMA FASG in Singapore • PAT and EBITDA continue to remain positive. In Q1 FY27, EBITDA stood at 21.2% and PAT at 17.9% • Cash & cash equivalent position continues to remains healthy at ₹ 184.8 Cr. Efficiency • Concluded the performance review cycle for FY26, impact effective from July 2026 • Attrition has remained steady for the quarter Talent Order Intake Snapshot – Q1FY27 Tier 1 operator in Middle Won new deal in Europe Won a deal for Migration East renewed Managed for Business Assurance and Assurance from a Middle Services and License Fraud Management East Operator Tier 1 Africa operator Tier 1 Operator in APAC renewed Managed Services renewed Managed Services for BAFM for PEM The Subex Advantage Strong Tailwinds • Almost all RFPs ask for AI use cases in AI • Fraud Management a top AI & GenAI Use Case amongst Telcos Few Players with Data • Large customer base with data connectors processing 200bn+ records per instance Access • High switching costs • 30+ years of expertise in telecom and handling Telco data across functions 03 Telco Domain Expertise • Continuous product development with strong R&D spend • Revenue growth driven by strong presence in emerging markets and increased AI 04 Geography Focus adoption in developed markets 05 Landed and Expanding • Landed & expanding with AI across clients • Strong revenue model with ~70% revenue is annuity/recurring nature 06 Strong Annuity Model • Excellent customer retention of ~92% Global Marquee Customer Base EMEA Asia Americas Thank You For Further Information, Please Contact: Asha Gupta – asha.gupta@in.ey.com Pratik Jagtap – pratik.jagtap@in.ey.com Subex – investor.relations@subex.com