Transcript of the Investors'' Earning call pursuant to Regulation 30 of SEBI (LODR), 2015.

To To Department of Corporate Services, Listing Department, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, C-1, G-Block, Bandra - Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 540403, Scrip Symbol: CLEDUCATE ISIN: INE201M01029 Sub: Transcript of Investors Earnings Call pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Ma’am/Sir(s), Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our disclosures dated July 31, 2026, and August 05, 2026, please find enclosed the transcript of the earnings call held with the Analysts / Investors (public at large) on August 05, 2026. The aforesaid information will also be hosted on the Company’s website at www.cleducate.com. Kindly take the above details on record. Thanking You For CL Educate Limited Arjun Wadhwa Chief Financial Officer Place: New Delhi Date: August 10, 2026 “CL Educate Limited Q1 FY 2027 Earnings Conference Call” August 05, 2026 Management Attendees: Mr. Satya Narayanan R – Chairman, CL Educate Limited Mr. Gautam Puri – Vice Chairman & Managing Director, CL Educate Limited Mr. Nikhil Mahajan – Group CEO & Executive Director, CL Educate Limited Mr. Arjun Wadhwa – CFO, CL Educate Limited Mr. Yatrik Vin – Independent Director, CL Educate Limited Earnings Call Link: CL Earnings Conference Call Q1 FY27 Results Link: Consolidated Results – Q1 FY27 Standalone Results – Q1 FY27 CL EDUCATE LIMITED Q1 FY27 Investor / Analyst Conference Call Transcript (Held on the Metaverse Platform – VOSMOS) Opening Remarks Arjun Wadhwa: Thank you for your patience and good afternoon once again, ladies and gentlemen, and welcome to CL Educate Limited's Q1 FY27 Analyst Call. My name is Arjun Wadhwa, I am the Group CFO of CL Educate and I will be your host today. Welcome once again to our Metaverse platform called VOSMOS, now in its fourth year for our analyst calls. This call, as always, will be recorded, transcribed and made available in the investor zone on our website within the next 24 to 48 hours. Should you have any questions during the session, please feel free to type them in the chat box in the bottom right-hand corner of your screen. We will address them at the end of the session. Joining me on this conference call today are Mr. Satya Narayanan R, the Founder and Chairman of CL Educate. Mr. Gautam Puri, Co-Founder, Vice Chairman and Managing Director — Gautam takes the direct reporting of the EdTech businesses, including our Test Prep business. Mr. Nikhil Mahajan, Executive Director and Group CEO of our Enterprise businesses — Nikhil anchors the MarTech business specifically. Mr. Yatrik Vin, he is the Chairman of DEXIT Global Limited and an Independent Director on the Board of CL Educate. Yatrik Sir is also the Chairman of our Group Strategic Finance Council, an internal body created nearly a year ago to provide strategic financial oversight, inputs and guidance on various governance and financial matters across the group, with an aim towards long-term value creation. I would now like to hand over to Satya to say a few words, after which Nikhil will run you through the presentation. Satya Sir, over to you. Satya Narayanan R: Thanks, Arjun. I hope I am audible. Arjun Wadhwa: Yes, loud and clear. Satya Narayanan R: Good afternoon, everybody. I will just take a couple of minutes to articulate two most important, perhaps, topics which are very loudly occupying our space. It has implications for us, both positive and negative. Hence, I thought I will spend a couple of minutes on this. Number one is the entire NEET-led various controversies and actions that you have seen over the last 45 to 60 days, which has led to the decisive step of very strong policy intervention from the Honourable Prime Minister, with a Nandan Nilekani-headed task force created, which is going to look at broad examination reforms. It may not be broad education reforms, but definitely broad examination reforms based on the mandate. And here are some readings, if you will, that we hold for the next 12 to 24 months. Number one is that the entire exam or assessment ecosystem will go more and more digital, and at a far more accelerated pace. So the first point is that the direction of assessments is going to be digital, number one. Number two, from an examination's point of view, there is going to be a significant amount of rationalization of exams which is likely to happen. Now, all of these are our readings. We do not have an inside view of what will come out, but as players in the market, as opinion leaders, as setters, we need to be in step with it. So these are our views. And just to give you one or two illustrations for you to understand — about a decade and a half ago, there were as many engineering entrance exams as the number of states in the country. There was JEE, there was AIEEE, there was EAMCET by Andhra, there was UPSEE by UP, MHCET by Maharashtra, etc. They all got rationalized into becoming one exam called IIT JEE Mains. Similarly, medical entrance examinations, they all converged into NEET. While some of those have gone well, some of those have not gone well, but the direction is rationalization of exams, where a lot of exams will get merged and most exams will go digital. And in the beginning it could be a CBT, which is a computer-based test, static one, and multiple slots to de-risk the leakage problem, with normalization signs coming in for checking the robustness of the assessments. So that is the direction it will go. Much later will the computer adaptive test come into India. That is point number two. Point number three is, as a result of which, both the assessments companies as well as the test prep companies will have to be alert. There will be newer opportunities that will come. At the same time, there could be some opportunities or some exams that are happening currently that might go away. Overall, the size of the market, overall, the number of assessment takers, they all will increase, but what will merge and what new opportunity will emerge is something that we would know only over the next few quarters. And the last point arising out of this is that there is a likelihood of consolidations playing out, both on the assessment side as well as the test prep side, over the next couple of years. That is on the left-hand side. On the right-hand side, you are also closely following, I am sure, the AI, the proliferation of it, the opportunities coming out of it, and we are very deeply embedded in that. We are actively using it. What it is doing for those of us who are very proactive is that the speed of innovation has collapsed. What you could earlier do over a six-to-12-month period, perhaps you can do it now in a four to six week period. What that has done is that with the same bandwidth, there is a whole lot of concurrent projects which would otherwise have been in the long priority funnel or pipeline — more than one, more than two are becoming concurrent projects without investing more in your people bandwidth on the technology side. Quantitatively speaking, and we are measuring it very, very digitally, actively every month and every quarter, almost 74% of our coding now is AI-enabled, AI-driven. And as you move in and see, we have done a lot of cost rationalizations. So, while the revenue growth is a bit of a challenge in a couple of places, what it has helped us is that we could rationalize costs and contribute to it significantly from the technology and AI pieces, without necessarily sacrificing on the ideas that could get us growth from the next three to six quarters. So those were the two broad commentaries I thought I will make at the overall context. I will pause here and hand it over to Nikhil to get into the business part. Thank you. Financial Performance Overview Nikhil Mahajan: Thanks, Satya, and welcom [Showing first 8,000 characters — download PDF for full document]