MARUTI SUZUKI Q2 CONCALL : RECORD QUARTERLY SALES, VOLUMES UP 26.5% YOY & DOMESTIC MARKET SHARE RISES TO 40.8%; MANAGEMENT EXPECTS DOUBLE-DIGIT DOMESTIC GROWTH IN H2

• MANAGEMENT EXPECTS H2 FY27 DOMESTIC VEHICLE VOLUME GROWTH OF AT LEAST 10% YOY, SUPPORTED BY STRONG FESTIVE DEMAND & PENDING ORDERS • MANAGEMENT GUIDES H2 FY27 OVERALL VOLUME GROWTH OF APPROXIMATELY 7–10% YOY, WHILE EXPORTS ARE EXPECTED TO REMAIN BROADLY FLAT TO MODESTLY HIGHER • MANAGEMENT EXPECTS MARGIN RECOVERY THROUGH BETTER REALISATIONS, COST REDUCTIONS & OPERATING LEVERAGE, BUT HAS NOT PROVIDED SPECIFIC EBITDA MARGIN GUIDANCE • MANAGEMENT EXPECTS NEW MANUFACTURING CAPACITY TO SUPPORT HIGHER PRODUCTION & ORDER EXECUTION, WITH ADDITIONAL EV LAUNCH PLANNED FOR THE 2027 BHARAT MOBILITY SHOW • Q2 NET SALES GREW APPROXIMATELY 26% YOY TO OVER ₹50,600 CR, MARKING THE COMPANY'S HIGHEST-EVER QUARTERLY SALES • Q2 TOTAL VEHICLE SALES SURGED 26.5% YOY TO 6,96,654 UNITS, SUPPORTED BY GST-LED DEMAND RECOVERY & NEW MODEL LAUNCHES • Q2 OPERATING EBIT EXCEEDED ₹2,800 CR, WHILE EBITDA MARGIN IMPROVED 80 BPS QOQ TO 9.4% FROM 8.6% • Q2 NET PROFIT DECLINED TO OVER ₹2,400 CR FROM APPROXIMATELY ₹3,300 CR LAST YEAR, AFFECTED BY HIGHER COSTS & LOWER NON-OPERATING INCOME • DOMESTIC WHOLESALE VOLUMES GREW 37.8% YOY TO OVER 5.65 LAKH UNITS, OUTPERFORMING INDUSTRY GROWTH OF 29.9% • DOMESTIC PASSENGER VEHICLE MARKET SHARE IMPROVED 220 BPS YOY TO 40.8%, WHILE SMALL-CAR PORTFOLIO VOLUMES GREW 35.9% • FESTIVE RETAIL SALES GREW APPROXIMATELY 30% YOY FROM ONAM TO DUSSEHRA, WHILE PENDING ORDERS INCREASED TO 2.7 LAKH UNITS BY 20 OCTOBER FROM 2 LAKH IN SEPTEMBER • COMPANY ADDED 5 LAKH UNITS OF ANNUAL MANUFACTURING CAPACITY DURING H1 FY27, INCLUDING 2.5 LAKH UNITS EACH AT KHARKHODA & HANSALPUR • Q2 EXPORTS DECLINED APPROXIMATELY 2% YOY TO 1,08,119 UNITS DUE TO SHIPPING DISRUPTIONS & REGULATORY CHANGES, DESPITE HEALTHY UNDERLYING DEMAND • NEW BREZZA & BALENO LAUNCHES, WIDER AUTOMATIC TRANSMISSION AVAILABILITY & E-VITARA PRODUCTION RAMP-UP ARE EXPECTED TO SUPPORT FUTURE DEMAND • MANAGEMENT REMAINS POSITIVE ON DOMESTIC DEMAND & CAPACITY EXPANSION, BUT HIGHER COMMODITY COSTS, FOREIGN-EXCHANGE PRESSURE, EXPORT DISRUPTIONS & RISING DEPRECIATION REMAIN KEY RISKS

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