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S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L TVS Supply Chain Solutions Investor Presentation February 2026
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2 Today’s Speakers Mr. R Vaidhyanathan Global CFO Mr. R Dinesh Executive Chairman
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3 Discussion Agenda 1. Introduction to TVS SCS 2. Business Overview 3. Financial Review 4. Strategic Outlook
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4 Introduction to TVS SCS
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5 A Tech – Driven End to End Supply Chain Solutions Company Master Data, e-Catalog, Forecasting & Procurement Planning & Optimization Control Centre & Tracking Inventory Planning & Optimization, Line Side Delivery Production Support & In-Plant Logistics Closed-Loop Logistics & Support Spares, Breakfix, Refurb & Engg. Support Courier & Consignment Management Secondary Transportation Sourcing & Procurement Logistics Operation Centre Integrated Transportation In-Plant Logistics Operations FG & AM Spares Fulfillment Integrated Supply Chain Solutions Smooth Customs Clearance Assured Space Management Cost Effective Shipping Ocean Freight Air Freight Global Forwarding Solutions 16,800+ FY 25 Employees 91 FY 25 Fortune 500 Customers Warehouse Automation & Robotics Vision Technology IoT Process Automation Technological Capabilities 75% 25% ISCS GFS 9M FY26 Revenue (Rs Cr) 7,971
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Europe Total warehouse space: 2.1 Mn Sq. Ft No. of permanent employees: 2,571 North America Total warehouse space: 1.4 Mn Sq. Ft No. of permanent employees: 484 …With Over 24.7 Mn Sq. Ft. of Warehouse Under Management Total warehouse space: 1.3 Mn Sq. Ft No. of permanent employees: 734 Asia Pacific (incl Oceana) 19.9 2.1 1.4 1.3 24.7 Mn Sq Ft Operating Across Four Continents and 26 Countries Total Warehouse Capacity (FY25) End Customer Industries (FY25) Total warehouse space: 19.9 Mn Sq. Ft No. of permanent employees: 13,012 India Note: Warehouse space and employee count data as of 31 Mar 2025 India Europe North America Asia Pacific Industrial 29% Automotive 25% Tech and Tech Infra 13% Consumer 13% Rail and Utilities 8% Healthcare 2% Others 10% Rs. 9,996 Cr 6
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7 2004 2007 2008 2012 2015 2016 2017 2018 Business Journey 2020 2021 2023 2025/26 Company was originally incorporated as “TVS Logistics Services Limited” in Madurai Entered the Freight Forwarding India business through TVS SCS Global Freight Solutions Limited First investment by Goldman Sachs, through GS Logistics Holdings Limited • Private equity investment by Zumrut Investments Limited and GS Logistics Holdings Limited (Mauritius) • Expansion into ISCS North America and Last Mile Business in ISCS Europe CDPQ acquired 38.17% equity in our company from GS Logistics Holdings Limited and Zumrut Investments Limited Acquisition of repairs business and expansion of Global freight forwarding network across South-East Asia, Asia-Pacific and Europe • Further expansion of GFS network in Thailand • Acquisition of technology for integrated supply chain and network capabilities Mahogany Singapore Company Pte. Ltd made a private equity investment, while Mitsubishi Corporation (Japan) made a strategic investment for a minor stake Acquired FIT 3PL Warehousing Private Limited and received a private equity investment from Exor Special Opportunities Master Fund. Entered into a definitive agreement to acquire 100% of Swamy & Sons 3PL Services Private Limited (S&S3PL) through FIT 3PL Warehousing Private Limited • Acquired Drive India Enterprise Solutions Limited (DISEL) • Expansion of GFS network across South- East Asia, Asia-Pacific, and Europe • Private equity investment by Omega TC Holdings Pte. Ltd. and Tata Capital Financial Services Limited Successfully listed in August 2023 with an IPO size of Rs. 880 crore
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8 Business Overview
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ISCS Revenue and Outlook ISCS – North America 474 376 706 796 992 FY21 FY22 FY23 FY24 FY25 +20.3% • ISCS North America has grown at 20.3% CAGR over the last 4 years, outpacing US GDP growth • The region benefits from strong, long-term customer relationships and a tech-enabled service offering • FY26 is expected to further strengthen our global portfolio, driven by sustained growth in North America Rs. Crore ISCS India 1,331 1,617 2,042 2,145 2,067 FY21 FY22 FY23 FY24 FY25 +11.6% • ISCS India has grown at 11.6% CAGR over the last 4 years, outpacing India’s GDP growth • Strategic realignments impacted top-line growth, but a focus on high- value accounts has strengthened profitability and margins • FY26 is expected to see strong growth, driven by operational improvements and favorable market conditions Rs. Crore ISCS – Europe 1,423 1,770 1,874 2,348 2,437 FY21 FY22 FY23 FY24 FY25 +14.4% • ISCS Europe has grown at 14.4% CAGR over the last 4 years, surpassing UK GDP growth • Europe has delivered consistent growth each year, with the Q3 FY25 performance setback being a one- off event • FY26 will focus on expanding key customer relationships and driving operational efficiencies to sustain growth Rs. Crore 9
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ISCS Customers and Contracts Industrial Automotive Tech and Tech Infra Consumer Rail and Utilities Others ISCS - India 17.0% 44.0%14.0% 19.0% 4.0% 2.0% 17.0% 46.0%11.0% 18.0% 5.0% 4.0% • The addition of new contracts and increased wallet share have driven a ~13% CAGR in average revenue per contract from FY21 to FY25 FY21 FY25 ISCS - North America 11.0% 78.0% 10.0% 56.0% 40.0% 0.0% 4.0% • The addition of new contracts and increased wallet share has driven a ~33% CAGR in average revenue per contract from FY21 to FY25 FY21 FY25 4.2 Years Average Contact Length FY25 ISCS - Europe 5.0% 22.0% 19.0%33.0% 21.0% 4.0% 23.0% 26.0%27.0% 21.0% • The addition of new contracts and increased wallet share has driven a ~16% CAGR in average revenue per contract from FY21 to FY25 FY21 FY25 10 3.9 Years Average Contact Length FY25 7.0 Years Average Contact Length FY25
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Robust Development Pipeline Leading Towards Double-Digit Growth Key Opportunities in India Key Opportunities in RoW Forwarding solution to a world class commercial vehicles specialist Integrated solution to a top automotive and industrial solutions provider Warehousing and manufacturing solution to an American Electric vehicle manufacturer Integrated solution to a leading commercial electric vehicles manufacturer Transportation solution for a global consumer travel goods company Warehousing and transportation solution to a large global consumer electronics leader Integrated solution to a world class metals manufacturer Packaging solution for a global mobility solutions leader Warehousing solution to an international construction equipment pioneer Integrated solution to a leading home solutions firm Integrated solution to a European renewable energy provider Warehousing and Fulfillment solution to an international rail systems manufacturer Integrated solution to a national military and security authority Sourcing and procurement solution to a national public safety and rehabilitation agency Near Term Opportunities Long Gestation Opportunities 11
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Domain Expertise Translating to High Profile Customer Wins in Q3 FY26 GFS Global automotive technology pioneer World-class engineering and manufacturing solutions leader Global solar solutions expert ISCS Global renewable energy leader (India) World-class commercial vehicle pioneer (India) Integrated clean energy specialist (India) Leading European passenger vehicle manufacturer (India) One of the top global technology services firm (Europe) Europe based global IT infrastructure services provider (Europe) World-class building mobility systems leader (India) International enterprise technology provider (Europe) Urban rapid transit operator (Europe) 12 Represents India Top energy storage manufacturer (India) Global heavy equipment manufacturing pioneer (India) Leading material handling technology platform One of the top Europe based renewable energy specialist
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13 Key Transaction Highlights of the Strategic Acquisition ✓ Acquisition of S&S3PL with more than 70% of FY25 Revenues in India FMCG sector ✓ Transaction Enterprise Value of INR 88 Cr; EV / FY25 EBITDA of 4.7x and PAT multiple of 14.5x ✓ The transaction is EBITDA, PBT and RoCE accretive to TVSSCS ✓ Strengthens TVSSCS’s position in the critical consumption-led high growth FMCG and FMCD sector ✓ Consolidates TVSSCS’s leadership position in the Indian supply chain services market TVS Supply Chain Solutions Limited (NSE: TVSSCS, BSE: 543965), a leading global supply chain solutions provider, has announced that it has entered into a definitive agreement with Swamy & Sons 3PL Services Private Limited (“S&S3PL”), for the acquisition of 100% of S&S3PL’s share capital, through TVSSCS’s wholly owned subsidiary FIT 3PL Warehousing Private Limited (“Fit3PL”) The transaction is expected to close during Q4 FY26 Funding of the acquisition will be entirely through internal accruals
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14 ✓ Headquartered in Hyderabad, Telangana, Swamy Sons Group was established over 55 years ago and has operated as a 100% family owned business ✓ S&S3PL is a newly incorporated company formed by Swamy Sons Group to acquire the business undertakings prior to investment by FIT 3PL, consisting of: (i) Swamy Sons (Agencies) Private Limited, (ii) Sovereign Enterprises and (iii) Crystal Marketing Corporation ✓ Deep customer relationships in the consumer sector with Fast Moving Consumer Goods (FMCG) accounting for over 70% of FY25 Revenues; Customer base includes India’s leading marquee FMCG players ✓ Core services include warehouse management and secondary transportation / distribution with other value added services ✓ Operates across 5 states viz. Telangana, Andhra Pradesh, Karnataka, Tamil Nadu and Delhi ✓ With 116 warehouses covering a total area of approximately 4 mn sft About Swamy Sons Group
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15 Financial Review
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Robust Double-Digit Revenue and Adj. EBITDA Growth with Sustained Margin Improvement RevenueAdj EBITDA & Margin Rs. Crore 7.0% 16 Note: • EBITDA Adjusted for ESOPS, Forex Gain/Loss and redundancy costs • Prior period segment numbers are restated to reflect the change in segment effective Q1 FY 26 2,445 2,663 2,716 Q3 FY25 Q2 FY26 Q3 FY26 7,497 7,971 9M FY25 9M FY26 152 179 199 Q3 FY25 Q2 FY26 Q3 FY26 514 551 9M FY25 9M FY26 6.2% 6.7% 7.3% 6.9% 6.9% Margin % +11.1% +2.0% +6.3% +31.2% +11.7% +7.2%
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Q3 Delivers Higher PBT and Strengthening Margin Profile Rs. Crore 7.0% 17 Note: • Adj. PBT is reported PBT adjusted for exceptional items, redundancy costs and share of profits -16 23 24 Q3 FY25 Q2 FY26 Q3 FY26 15 66 9M FY25 9M FY26 -0.7% 0.9% 0.9% 0.2% 0.8% Margin % +340.0% PBT Margin Medium Term Target - 4%
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Accelerating Trajectory Across All Key Financial Metrics Rs. Crore 18 Adj. EBITDA & Margin Adj. PBT & PBT Margin 152 161 173 178 199 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Revenue 2,445 2,499 2,592 2,663 2,716 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 6.5% 6.7% 6.7% 7.3% 17 19 23 24 -16 3 Q3 FY25 1 Q4 FY25 177 Q1 FY26 1 Q2 FY26 1 Q3 FY26 -14 18 196 24 25 Share of Profit from TVS ILP Adj. PBT 6.2% 0.7% 0.7% 0.9% 0.9%-0.7% Note: ✓ EBITDA Adjusted for ESOPS & forex gain/loss, one time redundancy costs from Q3FY25 to Q3FY26 ✓ Adj. PBT is reported PBT adjusted for exceptional items, redundancy costs and share of profits ✓ Adj. PBT margin computed based on Adj. PBT +11.1% +31.2%
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ISCS Drives Margin Expansion; GFS Delivers Double-Digit Growth ISCS Revenue GFS Adj EBITDA & Margin Rs. Crore 7.0% 19 Note: • EBITDA Adjusted for ESOPS, Forex Gain/Loss and redundancy costs • Prior period segment numbers are restated to reflect the change in segment effective Q1 FY 26 1,827 1,993 1,980 Q3 FY25 Q2 FY26 Q3 FY26 5,572 5,955 9M FY25 9M FY26 +6.9% 617 670 736 Q3 FY25 Q2 FY26 Q3 FY26 1,925 2,015 9M FY25 9M FY26 +4.7% 148 174 183 Q3 FY25 Q2 FY26 Q3 FY26 468 521 9M FY25 9M FY26 +11.3% 12 15 17 Q3 FY25 Q2 FY26 Q3 FY26 61 45 9M FY25 9M FY26 -26.3% 8.1% 8.7% 9.2% 1.9% 2.2% 2.3%8.4% 8.7% 3.2% 2.2% Margin % +8.3% -0.7% +23.4% +5.2% +19.3% +10.0% +50.0% +17.9%
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Revenue contribution by segment Q3 and 9M FY26 Revenue contributions Revenue contribution by Geography 20 25% 25% 27% 26% 25% 75% 75% 73% 74% 75% Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 2,445 2,663 2,716 7,497 7,971 ISCS GFS 28% 27% 28% 27% 27% 72% 73% 72% 73% 73% Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 2,445 2,663 2,716 7,497 7,971 RoW India
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Growth Momentum across Geographies ISCS India GFS RoW Rs. Crore 7.0% 21 529 516 537 Q3 FY25 Q2 FY26 Q3 FY26 1,299 1,477 1,442 Q3 FY25 Q2 FY26 Q3 FY26 148 202 219 Q3 FY25 Q2 FY26 Q3 FY26 Total 677 717 757 Q3 FY25 Q2 FY26 Q3 FY26 469 468 517 Q3 FY25 Q2 FY26 Q3 FY26 1,768 1,945 1,959 Q3 FY25 Q2 FY26 Q3 FY26 +1.6% +4.2% +48.4% +8.8% +11.8% +5.5% +11.0% -2.4% +10.1% +10.4% +10.8% +0.7%
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Consistent 9M Growth Across Geographies ISCS India GFS RoW Rs. Crore 7.0% 22 1,561 1,571 9M FY25 9M FY26 +0.6% 4,010 4,384 9M FY25 9M FY26 +9.3% 478 597 9M FY25 9M FY26 +24.7% Total 2,040 2,168 9M FY25 9M FY26 +6.3% 1,447 1,419 9M FY25 9M FY26 -2.0% 5,457 5,803 9M FY25 9M FY26 +6.3%
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23 in Rs. Cr Q3FY25 to Q3FY26 Note: Q1 FY26 new business wins have been restated to reflect correct classification of one customer previously reported under volume gains. Accordingly, 9M FY26 bridge reflects updated figures. Strong BD Conversion Fuels 13% Q3 and 9% 9M Revenue Growth 23 9MFY25 to 9MFY26 New Business Wins translates to 13.0% of Q3FY25 and 9.1% of 9MFY25 revenues 2,445 2,716 319 68 Q3 FY25 New BD Price & Volume Growth Customer Churn Q3 FY26 -116 +11.1% 13.0% of Q3 FY25 revenue 7,497 7,971 683 84 9M FY25 New BD Price & Volume Growth Customer Churn 9M FY26 -293 +6.3% 9.1% of YTD FY25 revenue Rs. Crore
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Record New BD with a Strong Pipeline Backing Future Growth Revenue from New Business Wins Business Development Pipeline 24 246 280 231 235 160 204 319 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 4,000 4,500 4,500 5,250 5,300 6,200 6,300 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Rs. Crore
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Profit and Loss Statement Particulars ( Rs. Crore) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Revenue from operations 2,715.8 2,444.6 11.1% 2,662.6 2.0% 7,970.8 7,496.9 6.3% Other Income 7.2 6.2 11.4 27.3 19.7 Total Income 2,723.0 2,450.8 11.1% 2,674.0 1.83% 7,998.1 7,516.6 6.4% Total material related costs 475.0 391.4 21.3% 446.3 6.4% 1,408.7 1,314.5 7.2% Freight, clearing, forwarding and handling charges 784.8 705.1 11.3% 727.3 7.9% 2,192.4 2,183.5 0.4% Sub-contracting costs 389.5 356.2 9.3% 369.4 5.4% 1,136.0 1,065.7 6.6% Employee Cost 598.6 590.3 1.4% 644.4 (7.1)% 1,861.9 1,743.3 6.8% Other Expenses 269.8 251.6 7.2% 298.1 (9.5)% 824.7 679.6 21.3% Foreign exchange loss/(gain) (net) (7.4) (1.1) (4.3) - (17.1) (12.0) - EBITDA 205.6 151.1 36.1% 181.6 13.2% 564.3 522.3 8.0% EBITDA Margins (%) 7.6% 6.2% 6.8% 7.1% 7.0% ESOPS 1.1 0.4 0.2 1.5 0.6 Foreign exchange loss/(gain) (net) (7.4) (1.1) (4.3) (17.1) (12) One Time Restructuring Cost 0 1.5 1.1 2.4 2.9 Adjusted EBITDA 199.3 151.9 31.2% 178.6 11.6% 551.1 513.8 7.3% Adjusted EBITDA Margins (%) 7.3% 6.2% 6.7% 6.9% 6.9% Depreciation of right-of-use asset 106.0 99.4 95.9 295.0 304.3 Other depreciation & amortization 41.1 36.1 41.3 119.7 105.9 EBIT (EBITDA less depreciation) 58.5 15.6 276.1% 44.4 31.7% 149.6 112.1 33.5% Finance cost 18.5 17.9 18.8 54.9 52.8 Interest on lease liabilities 23.2 21.6 14.6 58.1 66.8 Share of profit/(loss) from TVSILP 1.1 2.6 0.9 179.2 4.2 Profit before Exceptional Items & Tax 25.1 (15.2) - 23.3 7.8% 243.2 16.4 1383.0% Exceptional Items (9.1) 0 0 (100.4) 0 - Profit before Tax 16.0 (15.2) - 23.3 (31.4)% 142.8 16.4 770.7% Profit before Tax Margin (%) 0.6% (0.6)% 0.9% 1.8% 0.2% Total income tax expense 4.8 8.6 7.0 44.1 22.1 Profit After Tax 11.2 (23.8) - 16.3 (31.4)% 98.7 (5.7) - PAT Margins (%) 0.4% (1.0)% 0.6% 1.2% (0.1)% PAT (before Exceptional items) 20.3 (23.8) 16.3 199.1 (5.7) 25
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Global Leadership Team R. Dinesh Executive Chairman Ravi Viswanathan Managing Director R Vaidhyanathan Global CFO Dinesh Narayan Global CIO & Legal Ethirajan Balaji Global CHRO Kameswaran Sukumar CEO, India, Middle East & Africa Business Siddharth Jairaj CEO, APAC Region & GFS Business Richard Vieites CEO, Europe & North America Business Jonathan Croydon EVP, UK & Europe Business Regional CEOs Global Functional leads Vikas Chadha Global CEO
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Board of Directors R. Dinesh Executive Chairman Ravi Viswanathan Managing Director Shobana Ramachandran Director Anand Kumar Director Ashish Kaushik Director B Sriram Independent Director Gauri Kumar Independent Director Tarun Khanna Independent Director K Ananth Krishnan Independent Director Narayan K Seshadri Independent Director Nomination & Remuneration Risk management Stakeholders Relationship Corporate Social ResponsibilityAudit
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28 Strategic Outlook
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Strategies for Growth : 3C Approach 29 ✓ Deepen our customer relationships ✓ Acquire New Customers CUSTOMER 1 ✓ Continued innovation and investment in technology ✓ Continued focus on delivering value- added solutions and building end-to- end Capabilities ✓ Continue to invest in team, talent, and partners CAPABILITIES 2 ✓ Leverage our global network to expand into new markets ✓ Deepen presence in a country ✓ Continue to grow our global platform through targeted inorganic opportunities COUNTRY 3 We identify opportunities using the ‘C3 Framework’ in the three C’s - Customer, Capability and Country We started with offering single service to a customer and subsequently we have been able to expand this relationship and started to offer bundle of services to them across regions We have added multiple capabilities over the years in order to continue to enhance our customers supply chain and achieve higher efficiency in our operations throughout the whole supply chain Over the years we have expanded our geographical presence enabling us to accelerate growth, realize higher revenue and cost synergies and increase margins Our strategy revolves around ENCIRCLEMENT which focuses on increasing the wallet share of existing customers by generating incremental business by increasing the scope of our services
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Investment Case 4,607 5,420 6,263 7,042 7,515 5,955 FY21 FY22 FY23 FY24 FY25 9M FY26 Consolidated ISCS Revenue Consolidated GFS Revenue ✓ India’s largest and among the fastest-growing integrated supply chain provider, with 21+ years of experience in managing complex supply chains across diverse industries ✓ Serves a diverse customer base of over 6,200 active customers, including 90+ Fortune Global 500 companies, demonstrating deep customer loyalty and stable revenue generation ✓ Operations across 26 countries and a robust network of warehouses. Well-positioned to cater to both domestic and international markets, capitalizing on its cross-deployment capabilities ✓ Top 4 FY25 revenues by sector: Industrials 29%, Automotive 25%, Consumer 13% and Tech & Tech Infra 13% ✓ Offers end-to-end solutions through ISCS and GFS, addressing a wide range of customer needs, from sourcing to consumption ✓ ISCS capabilities include sourcing, transportation, logistics centers, in-plant operations, finished goods, aftermarket fulfillment, and supply chain consulting ✓ GFS involves managing end-to-end freight forwarding across ocean and air with value added services on select lanes ✓ Average length of customer relationships: Top 10 customers in FY25 ISCS – 13.2 and GFS – 13.6 years ✓ Optimizes logistics efficiency and enhances customer satisfaction by leveraging advanced technologies including AI, machine learning, and data analytics ✓ We take a proactive stance in optimising our energy needs to achieve minimal impact on the environment 8.7%+13.0% 2,169 3,679 3,821 2,239 2,481 2,015 FY21 FY22 FY23 FY24 FY25 9M FY26 2.2%+3.4% Adjusted EBITDA Margin 30
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Corporate Office Address: Tamarai Tech Park, South block - 3rd Floor No. 16, SP Developed Plot, Jawaharlal Nehru Road, Industrial Estate, Guindy, Chennai - 600 032. BSE: 543965 NSE: TVSSCS https://www.tvsscs.com/ Mr. Prabhu Hariharan Head Investor Relations investor.relations@tvsscs.com Ms. Anvita Raghuram / Ms. Neha Dingria +91 226 169 5988 tvsscs@churchgatepartners.com For further information please contact: 31