Analysts/Institutional Investor Meet/Con. Call Updates

Telephone: +91 22 6661 7272 | Email: info.india@blackbox.com BBOX/SD/SE/2026/79 August 20, 2026 Corporate Relationship Department Corporate Relationship Department Bombay Stock Exchange Limited National Stock Exchange Limited P.J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mumbai 400001 Bandra East, Mumbai 400051 Sub: Transcript of Earnings Call hosted on Unaudited Financial Results (Consolidated and Standalone) for Q1 FY27 Ref.: Scrip code: BSE: 500463/NSE: BBOX Dear Sir/Madam, This is further to our letter dated August 6, 2026 with reference number BBOX/SD/SE/2026/68 and pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the Earnings Call hosted on August 13, 2026 on Unaudited Financial Results (Consolidated and Standalone) for Q1 FY27 is attached hereunder. This is for your information, record and necessary dissemination to all the stakeholders. For Black Box Limited Aditya Goswami Company Secretary & Compliance Officer Encl.: A/a BLACK BOX LIMITED Registered Office: 501, 5th Floor, Building No. 9, Airoli Knowledge Park, MIDC Industrial Area, Airoli, Navi Mumbai 400 708, India BLACKBOX.COM | CIN: L32200MH1986PLC040652 | Tel: +91 22 6661 7272 “Black Box Limited Q1 FY27 Earnings Conference Call” August 13, 2026 E&OE - This transcript is edited for inadvertent errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 13th August 2026 will prevail.” MANAGEMENT: MR. SANJEEV VERMA – WHOLE-TIME DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. DEEPAK BANSAL – EXECUTIVE DIRECTOR AND GLOBAL CHIEF FINANCIAL OFFICER MR. PURVESH PAREKH – HEAD OF INVESTOR RELATIONS STRATEGIC GROWTH ADVISORS – INVESTOR RELATIONS ADVISORS Page 1 of 15 Black Box Limited August 13, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY27 Earnings Conference Call of Black Box Limited. 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 the date of this call. These statements do not guarantee the future performance of the company and may involve risks and uncertainties that are difficult to predict. As a reminder, all participants lines will be in the listen-only mode. And there will be opportunity for you to ask questions, after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sanjeev Verma, Whole-Time Director and CEO of Black Box Limited. Thank you, and over to you, sir. Sanjeev Verma: Good morning, everyone, and thank you for joining us today. On behalf of Black Box Limited, I extend a warm welcome to all of you to our Q1 FY27 earnings conference call. I'll begin by sharing an overview of our business performance, the evolving industry landscape and the strategic progress we have made during the quarter, after which our CFO, Mr. Deepak Bansal, will take you through the financial highlights in greater detail. A couple of months ago, during our Capital Markets Day, we shared an important milestone in Black Box's journey. We spoke about how the transformation that we embarked upon over the last several years had largely been completed and that the next phase of our journey will be centered around growth, scale and disciplined execution. As I reflect on the first quarter of FY27, I'm pleased to say that we have made a strong start on both fronts, financially and operationally, reinforcing our confidence in the road ahead. Financially, we have delivered our highest ever quarterly revenue, supported by improved execution of the rising order backlog and the contribution from our recently acquired Brazilian entity, 2S. The quarter also saw our order bookings of US$339 million, taking our order backlog to a record ever of approximately US$950 million, up 83% year-on-year and providing strong visibility for future growth. Equally important, we made significant operational progress during the quarter, adding a new global hyperscaler in the United States through a US$131 million, about INR1,240 crores order while continuing to deepen our relationship with our existing hyperscalers. These wins are a strong validation of the capabilities and scale we have built. I'm proud to say that Black Box is the only India origin digital infrastructure solutions company currently executing gigawatt scale data center programs, demonstrating the scale of capabilities it has built to participate in accelerating global AI infrastructure build-out. To understand in detail why we are increasingly confident about our long-term outlook, it is also useful to step back and look at the broader technology landscape because what we are witnessing today is far bigger than a normal technology cycle. Page 2 of 15 Black Box Limited August 13, 2026 We are in the midst of one of the largest digital infrastructure investment cycles in history. This is not a short-term trend driven by single technology. Rather, it's a structural transformation powered by artificial intelligence, cloud computing, networking, cybersecurity and next- generation digital infrastructure that is expected to reshape industries and economies over the coming decade. Industry estimates continue to move higher. According to Gartner's article published in July, global enterprise technology spending is expected to exceed US$6.4 trillion, up 14.2% year-on- year, including US$822 billion on data center systems alone, a whopping increase of 62.5% year-on-year. At the same time, leading hyperscalers, including Google has increased its budget to US$190 billion to US$205 billion for FY26 in its current earnings release in July, double from last year and so have other large players followed suit. Within this landscape, Black Box participates across nearly US$250 billion to US$300 billion of addressable opportunities spanning data centers, enterprise networking, connectivity infrastructure, cybersecurity, managed services, digital workplace solutions. Importantly, the majority of this spending is occurring in markets where we already have strong positions, particularly in the United States, where nearly 60% to 70% of spending is targeted. What makes this investment cycle particularly compelling is the convergence of multiple long- term technology trends. AI workloads are driving unprecedented demand for compute capacity. Enterprise networks are being modernized through high-speed connectivity, edge computing, private 5G, Wi-Fi 7. At the same time, cybersecurity has become increasingly mission critical as organizations strengthen digital resilience. These trends are creating sustained demand across the very capabilities that Black Box has been building over many years. Today, Black Box participates across a sizable addressable market spanning data center, enterprise networking, connected buildings, cybersecurity, managed services and digital workplace solutions. More importantly, a significant portion of this investment is taking place in markets where we already have deep customer relationships, particularly in the United States, where we continue to maintain a strong presence. However, the size of the opportunity alone is not enough. Success in this market increasingly depends on the ability to execute at scale. As hyperscale projects become larger and more complex, customers increasingly prioritize execution capability, scale experience and the ability to mobilize skilled resources quickly across multiple locations. Winning these engagements is no longer simply about offering at the lowest price. It is about demonstrating consistent execution on mission-critical infrastructure. This is precisely where Black Box enjoys a meaningful competitive advantage. Page 3 of 15 Black Box Limited August 13, 2026 Over the past se [Showing first 8,000 characters — download PDF for full document]