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INVESTOR PRESENTATION DATE 29th October, 2026 Q 2 & H 1 F Y 2 7
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www.welspuncorp.com DISCLAIMER For any financial disclosures, the information contained herein is provided by Welspun Corp Limited (the “Company”), although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice, its accuracy, fairness or completeness is not guaranteed and has not been independently verified unless specifically provided and no express or implied warranty is made thereto. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate for such purpose. Neither the Company nor any of its directors assume any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This document is for informational purposes and does not constitute or form part of a prospectus, a statement in lieu of a prospectus, an offering circular, offering memorandum, an advertisement, and should not be construed as an offer to sell or issue or the solicitation of an offer or an offer document to buy or acquire or sell securities of the Company or any of its subsidiaries or affiliates under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, both as amended, or any applicable law in India or as an inducement to enter into investment activity. No part of this document should be considered as a recommendation that any investor should subscribe to or purchase securities of the Company or any of its subsidiaries or affiliates and should not form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax, investment or other product advice. With respect to any ESG related disclosures, the information contained in our disclosures, statements or reports are specific to the Company and not audited or confirmed to be compliant with any general or standard benchmark. A number of statements in such disclosure or statements may contain forward-looking statements including statements about the Company’s strategic priorities, financial goals and aspirations, organic growth, performance, organizational quality and efficiency, investments, capabilities, resiliency, sustainable growth and Company management, as well as the Company’s overall plans, strategies, goals, objectives, expectations, outlooks, estimates, intentions, targets, opportunities, focus and initiatives. With respect to all disclosures provided herein, the statements contained herein may be pertaining to future expectations and other forward-looking statements which involve risks and uncertainties that are subject to change based on various important factors (some of which are beyond the Company’s control). These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers including with respect to the consolidated results of operations and financial condition, and future events and plans of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “strategy,” “synergies,” “opportunities,” “trends,” “future,” “potentially,” “outlook” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results, performances or events may differ from those in the forward-looking statements as a result of various factors and assumptions. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, or that assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. Reproduction, distribution, republication and retransmission of material contained herein is prohibited without the prior consent of the Company 02
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06 01 07 05 02 03 AGENDA BUSINESS VERTICALS OPERATIONAL PERFORMANCE FINANCIAL PERFORMANCE CAPITAL ALLOCATION BUSINESS ENVIRONMENT ESG www.welspuncorp.com 03 04 ORDER BOOK
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www.welspuncorp.com 04 MANAGEMENT COMMENTARY We have delivered a consistent performance during Q2FY27, with sustained progress across key financial parameters. H1FY27 EBITDA grew by 30% to Rs. 1,538 cr, against our full-year guidance of Rs. 2,850 cr. Our net cash position improved further, while ROCE stood at ~ 23%. Our order book reached an all-time record high of ~50,000 cr, providing strong medium to long-term business visibility. With strong demand visibility in the USA and the Middle East, we are strengthening our manufacturing footprint by adding a new spiral pipe facility in the USA and setting up a greenfield spiral pipe facility in Jordan through a joint venture with Perma-Pipe. Our entry into Jordan marks another step in expanding our reach into new markets and reinforcing our position in the global line pipe industry. As we pursue these opportunities, we remain focused on our core products and geographies, prudent capital allocation, maintaining strong supplier- customer relationships, innovation and building capabilities across our organisation. Our people remain integral to our growth strategy, while our sustainability agenda continues to guide responsible manufacturing and long-term value creation. Mr. Vipul Mathur MD & CEO, Welspun Corp Limited
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PORTFOLIO ENGINEERED FOR SUSTAINED GROWTH LARGE- DIAMETER LINE PIPES01 02 Significant player in India, and launching in KSA Pipes up to DN 2600 mm (among few plants globally) SINTEX National iconic brand with pan- India presence • Water Storage Tanks • Plastic Pipes WSSL* Only integrated producer in India from stainless steel- making to finished products *WSSL- Welspun Specialty Solutions Ltd – a subsidiary of Welspun Corp Oil & Gas and Water Transmission Water Distribution Storage/ Water Distribution/ Plumbing Serving sectors like Power, Nuclear, Aerospace, Defence etc. 05 INDIA USA KSA PRODUCTS LARGEST PLAYER GLOBALLY SpiralLSAW ERW DUCTILE – IRON PIPES 03 04 www.welspuncorp.com VERTICAL HIGHLIGHT APPLICATION SS Bars and seamless Pipes & Tubes
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06 OPERATIONAL PERFORMANCE: Q2FY27 SALES VOLUME (IN KMT) www.welspuncorp.com Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 DI Pipes 56 79 Line Pipes (India + USA) 252 197 Stainless Steel Bars & Pipes 8.8 8.8 TMT Rebars 43 34
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07 OPERATIONAL PERFORMANCE: H1FY27 SALES VOLUME (IN KMT) H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 DI Pipes 125144 Line Pipes (India + USA) 434 390 Stainless Steel Bars & Pipes 17 15 www.welspuncorp.com H1FY26 H1FY27 TMT Rebars 90 74
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FINANCIAL PERFORMANCE: Q2FY27 08www.welspuncorp.com Q2FY26 Q2FY27 4,374 +6% 4,644 PAT (INR cr.) Q2FY26 Q2FY27 499 440 +14% EBITDA (INR cr.) Q2FY26 Q2FY27 782 626 +25% Q2FY26 Q2FY27 493 614 - +25% PBT (INR cr.) Revenue from Operations (INR cr.)
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FINANCIAL PERFORMANCE: H1FY27 09www.welspuncorp.com H1FY26 H1FY27 7,925 +10% 8,725 PAT (INR cr.) H1FY26 H1FY27 1,545 790 +96% H1FY27 PAT includes one-time gain of INR 548 cr. on partial stake sale in EPIC (KSA) - EBITDA (INR cr.) H1FY26 H1FY27 1,538 1,186 +30% H1FY26 H1FY27 905 1,200 - +33% PBT (INR cr.) Revenue from Operations (INR cr.)
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STRONG BALANCE SHEET 10www.welspuncorp.com Net Debt/ (Cash) (INR cr.) ROCE FY24 FY25 FY26 H1FY27 20.0% 21.0% 22.3% 22.7% Annualized ROCE for H1FY27H1FY27 Net Cash position after capex of ~INR 1,616 cr. FY24 FY25 FY26 H1FY27 -1,049 -1,627 -3,887 387
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11www.welspuncorp.com P&L SNAPSHOT: Q2 & H1 FY27 * One time gain on partial stake sale in East Pipes Integrated Company for Industry in Q1FY27(EPIC), KSA PARTICULARS (INR cr.) Q2FY27 Q2FY26 YoY Gr. H1FY27 H1FY26 YoY Gr. Revenue from Operations 4,644 4,374 6% 8,725 7,925 10% Other Income 55 35 56% 119 70 69% Total Expenses 3,917 3,783 4% 7306 6809 7% EBITDA 782 626 25% 1538 1186 30% Depreciation and Amortisation 129 84 54% 254 169 50% Finance Cost 38 49 -22% 84 113 -26% Profit before tax and share of JVs 614 493 25% 1200 905 33% Share of profit/(loss) from Associates and JVs 42 96 -56% 115 145 -21% Exceptional Items* - -- NA 548 - NA PAT after Minorities, Associates & JVs 499 440 13% 1545 790 96% EPS 18.9 16.7 13% 58.6 30.0 95% PAT without Exceptional Items 499 440 13% 997 790 26%
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12www.welspuncorp.com FY27 ACHIEVEMENT vs GUIDANCE Revenue (INR cr.) FY24 FY25 FY26 FY27E 17,340 13,978 16,770 20,000 FY27E denotes the stated Guidance FY24 FY25 FY26 FY27E Guidance Actual 1,538 (H1) EBITDA (INR cr.) 1,500 1,804 1,858 1,700 2,371 2,200 2,850
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13www.welspuncorp.com ORDER BOOK TREND AND KEY ORDER WINS Global Order Book (INR cr.) Driven by massive recent awards, the global order book has scaled to a historic, all-time record of USD 5.2 Billion (~INR 50,000 Crore) • Order Size: ~USD 1.8 Billion (~INR 17,200 Crore) • Geography: Little Rock, USA • Execution Timeline: FY 2028 & FY 2029 Mega Order 1: Largest in Company History 14,730 19,553 25,350 50,000 FY24 FY25 FY26 H1FY27 • Order Size: ~USD 412.5 Million (~INR 4,000 Crore) • Geography: Little Rock, USA (Newly upgraded HFIW mill) • Execution Timeline: FY 2028 & FY 2029 Mega Order 2: Largest Order for HFIW Pipes • Order Size: ~USD 578 Million (~INR 5,500 Crore) • Geography: Little Rock, USA • Execution Timeline: FY 2029 Mega Order 3: Large Order for a Data Centre
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USA JORDON Saudi Arabia CAPITAL ALLOCATION FRAMEWORK Core Geographies Core Products INDIA <1x NET DEBT / EBITDA Financial discipline underpinning sustainable growth www.welspuncorp.com 14 Expanding Spiral (HSAW) Pipe capacity by adding 225 KMTPA new facility in USA at a cost of US$115 million towards debottlenecking & capacity augmentation initiative Setting up a greenfield Spiral (HSAW) Pipe Plant along with coating facility in Jordan in a JV with Perma Pipes Inc at a total cost of US$125 million to be funded in ~ 50:50 proportion by each of the two partners
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BUSINESS ENVIRONMENT: LINE PIPES KEY DRIVERS LNG Exports Domestic Power demand for AI Data Centers NGL Demand Resurgence of Oil Pipe Lines – both onshore and offshore USA: Robust Business Visibility; Strong Order Book KSA: Strong Demand; Huge Opportunity KEY DRIVERS Oil & Gas: High -scale investments by Aramco Water: Desalinated water transportation Exports opportunities in the region Geo -political situation to be watched closely KEY DRIVERS Exports: Marquee projects in Middle East, South East Asia, Australia, Latin America Domestic O&G: National Gas Grid, City Gas Distribution, Refining Capacity expansion Domestic Water: Irrigation and River interlinking projects, Interstate water sharing agreement & distribution network challenging INDIA: Sustained Momentum www.welspuncorp.com 15
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BUSINESS ENVIRONMENT: DUCTILE IRON PIPES KEY DRIVERS INDIA Jal Jeevan Mission, Amrut 2.0: Funding constraints persist and could continue for a longer time frame. Domestic water market under severe stress. Export Potential in Europe, Middle East & Africa. Pig Iron Exports: Diversified strategy KEY DRIVERS KSA Vision 2030: 30,000+ km of new water & sewage networks Favorable domestic demand dynamics, local capacity constraints and import substitution create strong opportunities. Reconstruction in the Middle East - huge export potential. Geo -political situation to be watched closely. www.welspuncorp.com 16
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KEY DRIVERS Prevailing geopolitical uncertainties and tariffs are currently impacting the export sentiment; however, long-term potential remains intact. Thermal and Nuclear Energy, Defense, Aerospace, Oil & Gas and Petrochemicals to stimulate demand for stainless steel bars and seamless pipes. In addition, a strong emphasis on domestic manufacturing through the ‘Make in India’ initiative also driving demand. BUSINESS ENVIRONMENT: STAINLESS STEEL BARS + PIPES & TUBES www.welspuncorp.com 17
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www.welspuncorp.com 18 BUSINESS ENVIRONMENT: WATER STORAGE TANKS & PLASTIC PIPES KEY DRIVERS Water Storage Tanks Premiumisation : Launched Pure 5-Layer, an upgrade to Sintex’s well-established, and Pure & PUF tanks with insulation. Economy Segment Growth: Launched RenoX, Sintex’s first-ever 10-layer tank, in select markets across Madhya Pradesh, Chhattisgarh and parts of Maharashtra. Channel Expansion: Deepening focus- ~600 large active contractors as of September, 2026 Branding : Sustained on-ground activations and digital initiatives to strengthen brand visibility. KEY DRIVERS Pipes Extended footprint to 15 states with continued focus on product portfolio expansion and brand visibility.
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SINTEX: NEW PRODUCT LAUNCH www.welspuncorp.com RenoX Sintex Pure Sintex Pure & PUF Food -grade virgin in all 10 layers Zero recycled content No lead or heavy metals MP & Chhattisgarh 10 LAYERS 8 YRS WARRANTY ECONOMY · NEW BRAND PREMIUM · CORE RANGE PREMIUM · INSULATED 100% food -grade virgin plastic UV -stabilised outer layer Warranty raised 15 → 20 years Pan-India 5 with FOAM LAYERS 20 YRS WARRANTY GermBloc ™ germ protection Foam core holds temperature Threaded lid, UV protected Pan-India LAYERS 20 YRS WARRANTY 5 with FOAM 19
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SINTEX: CHANNEL EXPANSION UNDERWAY Increase since Q1FY25 Increase since Q1FY25 Increase since Q1FY25 ~1.6x ~2x ~22x Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 368 402 467 521 564 Distributors Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 21 Retailers (in "000s) 23 28 34 38 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 10 35 67 80 92 Plumbers (in '000s) www.welspuncorp.com 20
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ESG FOCUS S&P Global (DJSI) ESG Ratings Long Term Sustainability Goals 2020 2021 2022 2023 2024 2025 9 41 57 68 73 78 Water Neutrality by 2040 Carbon Neutrality by 2040 Zero waste to landfill www.welspuncorp.com Ranked 5th globally and 2nd in India overall - in the Steel Sector - 2025 In Governance & Economic Dimension, ranked 3rd globally and 2nd in India – in the Steel Sector - 2025 21
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For further queries, contact : Mr. Goutam Chakraborty Head - Investor Relations Email : goutam_chakraborty@welspun.com Mr. Harsh Rungta Group Head - Investor Relations Email : harsh_rungta@welspun.com www.welspuncorp.com Connect with us: TheWelspunGroup /WelspunGroup /welspungroup /company/ welspun-group THANK YOU Welspun Corp Limited CIN: L27100GJ1995P LC025609