WAAREE RENEWABLE TECHNOLOGIES Q2 CONCALL : ₹5,500+ CR ORDER BOOK, SOLAR EPC RECOVERY & T&D EXPANSION

• TOTAL ORDER BOOK EXCEEDS ₹5,500 CR, PROVIDING STRONG REVENUE VISIBILITY • SOLAR & BESS ORDER BOOK ABOVE ₹3,300 CR; T&D ORDER BOOK EXCEEDS ₹2,200 CR • SOLAR EPC EXECUTION EXPECTED TO RECOVER FROM Q3 FY27 AFTER Q2 PROJECT DELAYS • SOLAR & BESS ORDER BOOK EXECUTION EXPECTED OVER NEXT 3–4 QUARTERS • CONSOLIDATED EBITDA MARGIN EXPECTED TO REMAIN ABOVE 15% • SOLAR EPC TO REMAIN THE PRIMARY GROWTH & EARNINGS DRIVER • DOMESTIC SOLAR EPC OPPORTUNITY PIPELINE AT APPROXIMATELY 25 GW; INTERNATIONAL PIPELINE AT 9 GW • T&D BIDDING PIPELINE EXCEEDS ₹20,000 CR; THESE ARE POTENTIAL OPPORTUNITIES, NOT CONFIRMED ORDERS • T&D EBITDA MARGIN CURRENTLY AT 9–10%; IMPROVEMENT EXPECTED THROUGH SCALE & OPERATIONAL SYNERGIES • ADDITIONAL 1 LAKH MT T&D MANUFACTURING CAPACITY PLANNED AT AJAMNAGAR • BATTERY ENERGY STORAGE SYSTEMS (BESS) EXPECTED TO CREATE ADDITIONAL EPC GROWTH OPPORTUNITIES • IPP PORTFOLIO AT 82.82 MWP & O&M PORTFOLIO AT 1.5 GWP, SUPPORTING RECURRING REVENUE OPPORTUNITIES • ACQUISITION-RELATED INTEREST COSTS EXPECTED TO STABILIZE; MANAGEMENT EXPLORING DEBT REDUCTION • SOLAR PROJECT DELAYS, LOWER T&D MARGINS & HIGHER FINANCE COSTS REMAIN KEY RISKS

WAAREE TECHNOLOGIES LIMITED

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