Please find enclosed Earnings Conference Call transcript of Investors/ Analysts Meet held on August 06, 2026.

PGIL/SE/2026-27/51 Date: August 13, 2026 THE GENERAL MANAGER, THE GENERAL MANAGER, DEPARTMENT OF CORPORATE SERVICES - CRD LISTING DEPARTMENT BSE LIMITED NATIONAL STOCK EXCHANGE OF INDIA LTD. 1ST FLOOR, NEW TRADING RING “EXCHANGE PLAZA”, PLOT NO. C- 1, ROTUNDA BUILDING, P. J. TOWERS G- BLOCK, BANDRA - KURLA COMPLEX, DALAL STREET, FORT, BANDRA ( E ), MUMBAI – 400 001 MUMBAI - 400 051 BSE Scrip Code: 532808 NSE: PGIL Subject: Transcript of Earnings Conference Call Dear Sir/Madam, Please find enclosed herewith transcript of the Earnings Conference Call held with Investors/ Analysts on August 06, 2026, to discuss the Company's un-audited financial results for the Quarter ended June 30, 2026. You are requested to take the same on your records. Thanking you, Yours faithfully, for Pearl Global Industries Limited (Shilpa Saraf) Company Secretary and Compliance Officer ICSI M. No.: ACS-23564 Pearl Global Industries Limited Regd. & Corp. Office: Pearl Tower, Plot No. 51, Sector-32, Gurugram – 122001, Haryana (India) Tel: +91-124-4651000 l E: info@pearlglobal.com CIN: L74899HR1989PLC140150 w w w . p e a r l g l o b a l . c o m “Pearl Global Industries Limited Q1 FY27 Earnings Conference Call” August 06, 2026 MANAGEMENT: MR. PALLAB BANERJEE – MANAGING DIRECTOR – PEARL GLOBAL INDUSTRIES LIMITED MR. SANJAY GANDHI – GROUP CHIEF FINANCIAL OFFICER – PEARL GLOBAL INDUSTRIES LIMITED MR. SHISHIR GAHOI – HEAD OF INVESTOR RELATIONS – PEARL GLOBAL INDUSTRIES LIMITED SGA – INVESTOR RELATIONS ADVISORS Page 1 of 21 Pearl Global Industries Limited August 06, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Pearl Global Industries Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be 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 the conference call, please signal an operator by pressing "*" then "0" on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Shishir Gahoi, Head of Investor Relations of Pearl Global Industries Limited. Thank you, and over to you, sir. Shishir Gahoi: Thank you very much. Good afternoon, everyone, and I am delighted to welcome you all to our earnings call for Q1 FY27. I hope you all had an opportunity to review our press release and the investor presentation, which are available under the Investors section of our website, and the same are also uploaded on BSE and NSE website. To discuss our results, we have with us our Managing Director, Mr. Pallab Banerjee, and our Group CFO, Mr. Sanjay Gandhi. They will take you through our results and business performance, after which we will proceed for question- and-answer session. Before we start, I just want to highlight that this call may include forward-looking statements based on the company's current views and expectations. Actual results could be different as future performance is uncertain and involve risks that are hard to predict. I will now hand over the call to our MD, Mr. Pallab Banerjee. Over to you, Pallab-ji. Pallab Banerjee: Thank you, Shishir. Good afternoon, everyone. I welcome you all to our Q1 FY27 earnings call. We continue to deliver a strong top line and bottom line by a focused execution and multi- location presence. During this quarter, we achieved a revenue of INR1,528 crores, and our EBITDA stood at INR164 crores, which is a 10.7% margin, and a PAT of INR99 crores. We shipped 20.8 million pieces this quarter. Some important updates on the key developments that's affecting our industry: USA, our biggest market, has now an MFN plus Section 301 tariff on our apparel. As you know, after Supreme Court judge IEEPA tariff was not legal in February, US had implemented a 10% additional tariff under Section 122. And this got over on July 24th this year. Now we have an additional 10% for India, Bangladesh, Indonesia, and a 12.5% on top of the MFN tariff for Vietnam. Now, following the Supreme Court's decision on February 20th, which strike down the IEEPA tariffs, approximately 166 billion was collected as duties, which became refundable to about 330,000 importers across 53 million entries. US Customs and Border Protection is processing these refunds through the CAPE system, which went live on April 20th this year. US government is in process of providing a refund to these importers. Now, very few or very small-sized customers that we have passed on these benefits back to their suppliers. In general, we haven't seen any of these refunds coming to us from our customers. Energy volatility continues as Iran war and Strait of Hormuz remain sensitive. Last quarter, we saw almost all Asian countries face the pressure affecting the raw material prices and the Page 2 of 21 Pearl Global Industries Limited August 06, 2026 timelines. We had to maneuver through these challenges, and I would say that we're still going through it. And in addition, like, you know, even before the peak shipping season, we are seeing a shortage of containers and the shipping lines capacity shortages resulting in delays and high spot prices of freight. On other hand, the Bab-el-Mandeb is back in news as it affects one of the choke points of critical shipping lanes. This will also continue to put an additional pressure both in terms of cost and timeline of transit. Mostly the customer, our customers are paying these freights, and we have FOB terms, but it does put a pressure to our industry. On the brighter side, what we find is that despite all these war and inflation, the US consumer behaviour remained healthy. We observe similar trends in other major Western markets as well like European Union and UK. If I talk of now, the retailers and the brands in US are feeling better, because they are getting back the -- one side they have the confidence of the customers, they are buying, and also they have the refunds that is coming to them, which will make their position much more healthier and they can pass on more aggressively, let's say, a pricing or their selling strategies. This should have positive impacts on the order books what we feel. Talking of another different market like Japan, what we are seeing, it continues today's security concern on the China, Russia, and North Korea, whatever is happening there geopolitically. Clothing import from China to Japan, which used to be around 65% plus, has now fallen down to 50%. So, it's a 15% drop that has happened, and this is the first time in 31 years. Vietnam is now almost 17.4% of the market of Japan, imports into Japan, and Bangladesh also has gained, it has come to a 4.3%. So, this is something is a positive news again because Japan is one of the bigger market after US and European Union. Talking about the country of our manufacturing, if we talk of India, the implementation of India- UK free trade agreement which went effective 15th of July 2026 is a significant positive development for Indian exports. Now the focus will be on the implementation of European Union FTA by the beginning of 2027. Such FTAs are normally a major boost to the raw material investments in India as well. What we are seeing is coupled by the other various schemes from Indian government like the PLI schemes, the PM MITRA parks, and the competitiveness amongst the states to draw investment, what we feel is the textile and apparel continues to be a focus area in India. Pearl Global already serves several of these markets in European Union and UK and have many customers, because we are servicing them through other geographies, and we believe that these FTA will further strengthen these relationships as we create more additional sourcing advantage for them. Page 3 of 21 Pearl Global Industries Limited August 06, 2026 We are proactively positioning ourselves to capitalize on these opportunities by enhancing our factory readiness in India, strengthening the compliance standards to meet some of the differe [Showing first 8,000 characters — download PDF for full document]