Intimation on Chairman''s statement at the AGM held on 27.8.2026

3-TmT qs:)~~~ ctSTYl~~ToT f&tf?i"e.s BHARAT PETROLEUM CORPORATION LTD. 3mo:mcl5R<l5T~ A Govt. of India Enterprise Sec.3.4.1 27th August 2026 The Secretary, The Secretary, BSE Ltd., National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai 400 001 Mumbai 400051 BSE Scrip Code: 500547 NSE Symbol : BPCL Dear Sir/Madam, Subject: Chairman's Statement delivered at the 73rd Annual General Meeting of the Company We enclose the Chairman's Statement delivered at the 73rd Annual General Meeting of the Company held on 27th August 2026. The said statement is also available on the Company’s website at https://www.bharatpetroleum.in/bharat-petroleum-for/investors/disclosure-under-regulation-46- and-62-of-sebi-lodr-regulations/stock-exchange-filings/corporate-announcement We request you to take the same on record. Thanking You Yours faithfully, For Bharat Petroleum Corporation Limited (V. Kala) Company Secretary mw 'lw.,, 4 ~ 6, c!RTBm-U" '15. ~ ~-~ <ITTffi w. 688. 1~-400 001. w,,: 2271 3000/4000. ~: 2271 387 4 Bharat Bhavan, 4 & 6. Curnmbhoy Road, Ballard Estate, P. B. No.688, Mumbai-400 001. Phone: 2271 3000/4000. Fax: 22713874 Pma:I: info@bharatpetroleum.in website-www.bharatpetroleum in C\N: L23220MH1952GOI008931 MAHARATNA V Bharat .. 4. ... of Petroleum L-.. , _ ~ S,o.uyi.ng T n.e f uture, Energy Solutions Leapfrogging Bharat BPCL Chairman’s Message on 73rd Annual General Meeting Statement of Mr. Sanjay Khanna, Chairman & Managing Director, at the 73rd Annual General Meeting of Shareholders on 27th August 2026 in Mumbai Bharat Petroleum Corporation Limited DEAR SHAREHOLDERS, The entire BPCL family responded to this volatility with agility and Good morning, ladies and gentlemen, and a very warm welcome foresight to ensure uninterrupted operations. to the 73rd Annual General Meeting of Bharat Petroleum These events reinforced a fundamental truth: for an energy- Corporation Limited. importing nation like India, energy security cannot depend on a single source, route or technology. It is my proud privilege to address you today as we review a landmark year in the journey of your Company, a year in which Yet India remained resilient. Strong domestic demand, public Bharat Petroleum completed fifty golden years of national service investment, industrial activity and a vibrant service sector and entered its next phase with renewed confidence, greater scale sustained economic momentum and rising aspirations. and a sharper sense of purpose. India’s development journey will require not only require more I extend my heartfelt greetings to all our esteemed Directors, the energy in absolute terms, but also energy, which is more diversified, representative of the President of India, the representative of the efficient and increasingly indigenous. This creates a distinctive Government of Kerala, representatives of our major shareholders, transition pathway. Hydrocarbons will continue to be important for our statutory auditors, and, above all, our valued shareholders who mobility, industry, aviation and petrochemicals, while renewable have joined us virtually today. power, natural gas, biofuels, green hydrogen, energy storage and The Notice of the AGM, the Directors’ Report and Audited digital intelligence will rapidly gain scale. Accounts for the year ended March 31, 2026 are already with This is why the future of energy in India cannot be framed as you and, with your permission, I take them as read. a choice between the old and the new. It must be built as an integrated system in which every source plays the role for which LADIES AND GENTLEMEN, it is best suited. BPCL’s strategy is anchored in this pragmatic The true measure of fifty years is not just the passage of time, but balance of energy security, affordability and sustainability. the transformation that time brings. And few transformations have been as remarkable as India’s journey over the past five decades. FY 2025-26: RESILIENCE TRANSLATED INTO RESULTS Looking back, it feels almost like watching a time-lapse of India itself. The roads have grown longer, the cities taller, the skies busier, This pragmatic balance was reflected in our performance. Even industries larger and aspirations at an all-time high. Through this as the global environment tested the resilience of the energy remarkable transformation, BPCL has been present in every frame, sector, BPCL remained agile, disciplined and delivered one of the evolving with the country, powering its progress and constantly strongest operational and financial performances in its history. preparing for what comes next. Our refineries achieved their highest-ever crude throughput of India is now transforming at unprecedented speed. To match this 41.2 million metric tonnes, with 116.6 percent capacity utilization, pace, BPCL is combining the strength of our legacy, the discipline highest in the industry. We also delivered a Gross Refining Margin of our core businesses, the ingenuity of our people and the power of 11.74 dollar per barrel, the highest among public sector oil of technology to create affordable, reliable, sustainable and secure marketing companies. This performance reflects the reliability energy solutions. of our assets, agile & flexible crude procurement coupled with the disciplined operations. Our market sales reached a record Our purpose is clear: to power the growth of today while building 54.2 million metric tones, demonstrating the strength of growing the energy architecture of tomorrow, and to help create a network and the enduring trust of our customers. stronger, more resilient and self-reliant Bharat. We also matched this operational excellence with decisive A WORLD OF UNCERTAINTY. AN INDIA OF investment in BPCL’s future. Our Consolidated capital expenditure CONFIDENCE reached a record I 21,372 crore during the year, strengthening our core businesses while creating the capabilities and growth My Dear Friends engines that will shape the next phase of our journey. Financial Year 2025-26 ended against an exceptionally complex Together, these achievements translated into a consolidated Profit global backdrop, marked by geopolitical tensions, supply-chain After Tax of I 25,843 crore. This strong financial performance disruptions, volatile commodity prices and a fragmented global gives BPCL the strength to invest ambitiously, navigate volatility economy. The energy sector felt this uncertainty particularly and pursue long-term growth with financial prudence. sharply, with the conflict in West Asia and closure of the Strait of Hormuz disrupting energy flows and infrastructure. These achievements belong to our people. They are the result of thousands of decisions taken each day across refineries, The scale of the disruption was reflected in energy prices. installations, terminals, pipelines, retail outlets, LPG plants, Brent crude surged from around 71 dollar per barrel at the end aviation stations, offices and project sites. They reflect a culture of February 2026 to over 127 dollar per barrel by the end of that combines ambition with accountability and innovation March, before peaking at more than 144 dollar per barrel in with execution. April. Freight, insurance and shipping costs also rose sharply as supplies tightened. BPCL Chairman’s Message on 73rd Annual General Meeting 3 CHAIRMAN’S MESSAGE PROJECT ASPIRE: DELIVERING TODAY, MARKETING: SCALE STRENGTHENED BY BUILDING TOMORROW CUSTOMER TRUST Our strong performance has created the momentum and capacity Let me now turn from the strength of our refineries to the reach to accelerate BPCL’s transformation. Project Aspire, our five-year of our marketing network, the most visible expression of brand strategic program built on two fundamental pillars. A) to nurture BPCL. Through this network, our strategy translates into service, and strengthen our core businesses in refining, marketing and and millions of customers expe [Showing first 8,000 characters — download PDF for full document]