AEQUS Q2 CONCALL : AEROSPACE ORDER BOOK REACHES $1.1 BILLION, REVENUE UP 45% YOY BUT CONSUMER LOSSES DELAY PROFITABILITY RECOVERY

• MANAGEMENT MAINTAINS ITS LONG-TERM AMBITION OF GROWING THE BUSINESS 4–6X BY FY31, SUPPORTED BY AEROSPACE EXPANSION & NEW CUSTOMER PROGRAMS • AEROSPACE BUSINESS REMAINS ON TRACK FOR FY27, WITH A $1.1 BILLION ORDER BOOK, UP 9% QOQ, PROVIDING REVENUE VISIBILITY OVER APPROXIMATELY 5–7 YEARS • MANAGEMENT WITHDRAWS EARLIER Q4 FY27 CONSUMER EBITDA BREAKEVEN TARGET, WITH NO REVISED TIMELINE ANNOUNCED • MANAGEMENT TARGETS APPROXIMATELY 50% CONSUMER CAPACITY UTILIZATION BY Q4 FY27, WHILE REITERATING ITS FY30 CONSUMER PAT PROFITABILITY AMBITION • Q2 CONSOLIDATED REVENUE UP 45% YOY TO ₹409.1 CR, EBITDA AT ₹24.5 CR & NET LOSS AT ₹52.2 CR • Q2 CONSOLIDATED EBITDA MARGIN DECLINED TO 6% FROM 16% YOY, REFLECTING SUBSTANTIAL LOSSES IN THE CONSUMER BUSINESS • AEROSPACE REVENUE UP 44% YOY TO ₹351.4 CR, WHILE AEROSPACE EBITDA INCREASED 24% TO ₹78.3 CR, WITH APPROXIMATELY 22% EBITDA MARGIN • AEROSPACE CAPACITY UTILIZATION REACHED 69% OVERALL & 76% IN INDIA, WITH ANNUALIZED MACHINING CAPACITY UTILIZATION OF APPROXIMATELY 2.12 MILLION HOURS • COMPANY SIGNED ADDITIONAL LONG-TERM AGREEMENTS WITH SIX SAFRAN ENTITIES, SUPPORTING FUTURE AEROSPACE ENGINE & LANDING GEAR COMPONENT OPPORTUNITIES • MANAGEMENT PLANS INITIAL INVESTMENT IN ITS 250-ACRE HOSUR AEROSPACE FACILITY DURING Q4 FY27, WITH COMMERCIAL PRODUCTION TARGETED FOR FY29 • CONSUMER REVENUE DECLINED SEQUENTIALLY TO ₹57.7 CR FROM APPROXIMATELY ₹73.4 CR, WHILE Q2 CONSUMER EBITDA LOSS WIDENED TO ₹40.1 CR • CONSUMER ELECTRONICS UTILIZATION REMAINS LOW, WHILE MANAGEMENT EXPECTS THE TOY CUSTOMER TRANSITION TO BE LARGELY COMPLETED BY Q4 FY27 • PROMOTER GROUP COMMITTED ₹650 CR THROUGH PREFERENTIAL WARRANTS, WITH ₹289 CR EARMARKED FOR CAPEX, ₹100 CR FOR WORKING CAPITAL & ₹100 CR FOR STRATEGIC INVESTMENTS • MANAGEMENT INDICATES ADDITIONAL FUNDRAISING MAY BE REQUIRED IN FY28; NET DEBT-TO-EQUITY INCREASED TO 0.5X FROM 0.2X IN MARCH 2026 • MANAGEMENT TARGETS LONG-TERM WORKING CAPITAL OF APPROXIMATELY 120 DAYS VS CURRENT 136 DAYS; CONSUMER LOSSES, DELAYED BREAKEVEN, HIGHER DEBT & POTENTIAL EQUITY DILUTION REMAIN KEY RISKS

AEQUS LIMITED

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