Analysts/Institutional Investor Meet/Con. Call Updates

August 20, 2026 National Stock Exchange of India Ltd., BSE Limited, Listing Compliance Department Listing Department, Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai- 400001 Mumbai – 400 051 Scrip Symbol: GALAXYSURF Scrip Code: 540935 Subject: Transcript of concall Q1 of FY 2026-27 Ref.: Regulation 46(2)(oa) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015. Dear Sir/Madam, Pursuant to the relevant provisions of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we are enclosing transcript of Earnings Conference Call for Q1 of FY 2026-27. This is for your information and records. Yours faithfully, For Galaxy Surfactants Limited Niranjan Ketkar Company Secretary Encl: as above “Galaxy Surfactants Limited Q1 FY27 Earnings Conference Call” August 14, 2026 “E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 14th August 2026 will prevail.” MANAGEMENT: MR. K. NATARAJAN MANAGING DIRECTOR MR. VAIJANATH KULKARNI EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER MR. ABHIJIT DAMLE CHIEF FINANCIAL OFFICER SGA – INVESTOR RELATION ADVISORS Page 1 of 18 Galaxy Surfactants Limited August 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Galaxy Surfactants Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode. 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 star then zero on your touchtone phone. Please note, this conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. I now hand the conference over to Mr. K. Natarajan, Managing Director, Galaxy Surfactants Limited. Thank you, and over to you, sir. K.Natarajan: Thank you. A very good afternoon, ladies and gentlemen. It gives me immense pleasure to welcome you all to our Q1 '26-'27 conference call. There is a saying that smooth seas do not make skilled sailors. Over the last two years, our company has navigated some exceptionally turbulent waters, geopolitical uncertainty, supply chain disruptions, reformulations and unprecedented volatility across feedstock. While these challenges tested us, they also strengthened us. They sharpened our execution and enhanced our resilience. Today, as we report our highest ever quarterly EBITDA of INR 252.5 crores, I believe we are beginning to see the benefits of the capabilities, enduring relationships and strategic foundations that we have been building over the last several years. Our ability to anticipate risk, manage volatility, make disciplined commercial decisions and leverage a diversified portfolio across markets and customer segments has been critical in preserving competitiveness through multiple external disruptions. Supported by decades of industry experience, deep customer and vendor relationships, operational excellence of our team and a robust risk management framework, these capabilities have enabled us not only to navigate uncertainty, but also to emerge stronger, culminating in nearly doubling our profitability during this quarter. Many of the factors that constrained growth over the last two years, including customer reformulations and trade-related uncertainties like the U.S.A. tariff have either normalized or become significantly more manageable. Before I move to our regional performance, it is important to understand the broader environment in which these results were delivered. Q1 was characterized by significant volatility in feedstocks, both petrochemical and oleochemical, primarily driven by developments in West Asia. Crude remained elevated throughout most of the quarter, averaging above USD 100 per barrel. The oleochemical feedstock prices also moved from average levels of USD 2,800 per metric ton to a high of USD 3,300 per metric ton for the quarter before correcting below USD 2,500 per ton towards the end of June. Such sharp movements within a short period created significant challenges and opportunities Page 2 of 18 Galaxy Surfactants Limited August 14, 2026 across procurement, pricing and inventory management. In such circumstances, disciplined execution and supply chain agility become key differentiators. Against this backdrop, I am pleased to report a meaningful recovery in growth momentum. Consolidated volumes grew by 5% year-on-year with both our segments growing in mid-single-digit. Moving to our regional performance now. India, our primary engine grew by an impressive 11% led by double-digit growth in performance segment and high single-digit growth in specialty products. More importantly, we witnessed a recovery in Tier 1 customer demand and the return of positive growth momentum in businesses that have been impacted by reformulations over the last several quarters. Due to geopolitical developments, the relative economics between oleochemical-based and petrochemical-based feedstocks reversed. Availability constraints and cost pressures in portions of the petrochemical value chain made oleochemical-based solutions increasingly attractive, enabling good growth momentum. Non-Tier 1 and the direct-to-consumer segment volumes also grew near double-digit year-on- year basis, showing good momentum across regions. With strong premiumization drive, we remain confident that our India region performance will continue returning to its long-term growth trajectory in the coming quarters. Rest of the World region volume grew by 6% year-on-year. The Americas led the growth as demand recovered following greater clarity on tariff-related developments, while our premium specialty business at TRI-K continued its strong performance. It was also encouraging to see APAC delivered double-digit growth, reflecting the investments and strategic actions we have been taking over the last few years, whether it is strengthening our market presence, expanding our distribution reach, localizing portfolios or deepening customer engagement, these efforts are now translating into tangible business outcomes within the Specialty Care mix has improved, contributing positively to growth in EBITDA per metric ton, moving us steadily towards objective of improving the quality of our earnings through a richer and more differentiated product mix. Coming to the AMET region, the quarter began under extremely challenging circumstances. The development in the West Asia created significant disruptions across the region during April and early May, impacting both inbound and outbound supply chains. Our Egypt operations were also affected during this period. What I found particularly encouraging, however, is the resilience demonstrated by our Egypt business and operations teams. As conditions gradually stabilized, we saw a strong recovery in momentum, supported by close coordination across manufacturing, supply chain, procurement and commercial teams. Their ability to adapt swiftly, maintain strong customer engagement and ensure uninterrupted business continuity enabled us to recover a substantial portion of the volumes impacted during April and May, driving a strong improvement in performance from the month of June onwards. While AMET volumes were down 4% year-on-year, they improved by an impressive 19% Page 3 of 18 Galaxy Surfactants Limited August 14, 2026 sequentially, reflecting both the underlying strength of customer demand and the resilience of our business model in the region. At the same time, we remain watchful of the evolving geopolitical situation and its potential implications for global supply chains. 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