ESTER INDUSTRIES Q2 FY27: TARGETS 20% SPECIALTY POLYMER REVENUE CAGR; VALUE-ADDED FILMS SHARE TO REACH 35% BY Q4 FY27, 45,000 TPA RECYCLING PROJECT BY CY2028

• Specialty Polymer Growth Guidance: Management targets approximately 20% revenue CAGR in Specialty Polymers over 3–5 years following FY27 • FY27 Value-Added Film Target: Aims to increase Value-Added Products (VAP) contribution to approximately 35% of consolidated film volumes by Q4 FY27 • Medium-Term VAP Target: Targets approximately 60% Value-Added Products contribution over the next 2–3 years, reducing dependence on commodity films • ELITe Recycling Project: 50:50 JV with Loop Industries developing a chemical recycling facility in Gujarat, targeting commercial operations in the last quarter of CY2028 • Recycling Capacity: New facility designed to produce 45,000 MT annually of recycled polyester chips using recycled DMT and MEG • Project Execution: Land acquisition for the Gujarat recycling facility expected to be completed by Q4 FY27, with project implementation progressing towards its CY2028 target • Nike Offtake Agreement: Secured multi-year offtake agreement with Nike as anchor customer for recycled polyester resin manufactured using Loop's technology • Additional Global Customer: Received multi-year Letter of Intent from a leading global sports and athletic brand for up to 15,000 MT annual recycled polyester resin offtake • Specialty Polymer Product Pipeline: Developing more than 30 specialty products, supported by patented technologies and R&D capabilities • New Specialty Product: Management expects customer approval for a new product following marginal capex, potentially recovering part of the sales and margins lost due to declining demand for an existing major product • Film Business Strategy: Increasing production of high-barrier, coated, specialty and recycled-content polyester films to strengthen profitability • Margin Improvement Plans: Focused on higher capacity utilisation, premium product mix, cost optimisation and better operating leverage • Renewable Energy: Commissioned a 1.77 MWp rooftop solar project at Hyderabad under the OPEX model, expected to reduce power costs and carbon emissions • Industry Outlook: Management expects improving BOPET industry conditions and demand for sustainable packaging to support medium-to-long-term growth • Key Challenges: West Asia-related crude oil supply disruptions, higher shipping costs, longer transit times and weak demand for certain specialty polymers remain concerns

ESTER INDUSTRIES LTD

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