TATA MOTORS COMMERCIAL VEHICLES Q2: WHOLESALE VOLUMES UP 42% YOY; EBITDA RISES 31%; STRONG FREE CASH FLOW

• Wholesale Volumes: Up 42% YoY to 1.35 lakh units in Q2 FY27 • Domestic & Export Growth: Domestic volumes up 30% YoY, while exports surged 177% YoY • Revenue Growth: Up 42% YoY, supported by strong demand across commercial vehicle segments • EBITDA Growth: Up 31% YoY despite commodity cost pressures • Market Share: H1 FY27 domestic CV market share reached 36.2%, up 110 bps from FY26 • Segment Market Share: Heavy CVs 55.7%, Intermediate & Light CVs 36.3%, Small CVs 27.6% and CV Passenger 41.1% • Free Cash Flow: Generated ₹4,600 Cr, strengthening the balance sheet • Net Cash Position: Improved to ₹11,300 Cr • Iveco Acquisition: Transaction progressing towards completion by October-end, with consolidation expected from next quarter • Growth Outlook: Management expects H2 growth to moderate due to a higher base, while infrastructure activity and freight demand remain supportive • Strategic Initiatives: Partnered with Welspun Renewable Energy for an 86 MW wind-solar hybrid project and signed an MoU with Drivn for electric CV financing solutions

TATA MOTORS LIMITED

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