RELIANCE INDUSTRIES Q2 FY27: O2C REVENUE SURGES 44.2% TO ₹2.32 LAKH CR; EBITDA JUMPS 67.9% ON STRONG REFINING MARGINS

• Segment Revenue: Oil-to-Chemicals (O2C) revenue surged 44.2% YoY to ₹2,31,601 Cr, driven by higher energy prices and improved downstream chemical realizations • Segment EBITDA: Jumped 67.9% YoY to ₹25,203 Cr, supported by strong transportation fuel cracks and improved downstream chemical margins • Crude Oil Prices: Crude oil prices increased 40.6% YoY amid Middle East supply disruptions • Transportation Fuel Prices: Increased 50–78% YoY, supported by global supply shortages and refining disruptions • Chemical Prices: Most downstream chemical product prices increased 25–35% YoY, supporting revenue growth • Refining Margins: Fuel cracks surged 3–3.7x YoY and reached historic highs during the quarter • Polyester Margins: Polyester chain margins recovered sharply to a three-year high, led by PX and PTA spreads • Global Oil Demand: Increased by 3.4 million barrels per day YoY to 102.5 million barrels per day • Brent Crude: Averaged $97 per barrel, up 40.6% YoY, due to geopolitical disruptions and tightening global crude supplies • Global Refinery Supply: Refinery crude throughput declined by 3.5 million barrels per day YoY to 80.9 million barrels per day • Gasoline Margins: Singapore gasoline cracks surged 196% to $24.9 per barrel amid tightening inventories and supply disruptions • Diesel Margins: Gasoil cracks jumped 252% to $65.8 per barrel, supported by refinery outages and global supply constraints • Polymer Demand: Domestic polymer demand declined 3.5% YoY due to higher prices, limited availability and seasonal weakness • Polyester Demand: Domestic polyester demand declined 6.1% YoY amid price volatility and cautious purchasing • PET Demand: Grew 5.3% YoY, supported by healthy beverage-sector demand • Profitability Constraints: Earnings growth was partially offset by continued SAED-related costs and under-recoveries in the Jio-bp business • Business Outlook: Strong refining cracks, improved chemical spreads and global supply disruptions supported O2C profitability, while domestic demand weakness and elevated input costs remained key challenges

RELIANCE INDUSTRIES LTD

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