ULTRACEMCONSE20 October 2025

UltraTech Cement Limited has informed the Exchange about Investor Presentation

UltraTech Cement Limited

20th October, 2025

BSE Limited Corporate Relationship Department Scrip Code: 532538

The National Stock Exchange of India Limited Listing Department Scrip Code: ULTRACEMCO

Dear Sirs,

We refer to our earlier submission of the investor presentation titled “Investor Presentation for the quarter ended 30th September, 2025”, dated 18th October 2025, which was submitted to the Exchange for dissemination.

We are submitting a revised version of the presentation incorporating updates on slide numbers 8, 12 and 21, aimed at providing greater clarity to investors.

We confirm that, apart from these updates, there are no other changes to the presentation.

We request you to kindly take the revised presentation on record and replace the earlier version submitted. The updated presentation is also available at:

https://www.ultratechcement.com/investors/financials

Yours faithfully, For UltraTech Cement Limited

Sanjeeb Kumar Chatterjee Company Secretary and Compliance Officer

Encl: As above

Luxembourg Stock Exchange BP 165 / L – 2011 Luxembourg Scrip Code: US90403E1038 and US90403E2028

Singapore Exchange 11 North Buona Vista Drive, #05-07 The Metropolis Tower 2, Singapore 138589 ISIN Code: US90403YAA73 and USY9048BAA18

UltraTech Cement Limited Registered Office : Ahura Centre, B – Wing, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai 400 093, India

T: +91 22 6691 7800 / 2926 7800 I F: +91 22 6692 8109 I W: www.ultratechcement.com/www.adityabirla.com I CIN : L26940MH2000PLC128420

UltraTech Cement Limited

Q2 FY26 Result Presentation

Stock code: BSE: 532538 | NSE: ULTRACEMCO Reuters: UTCL.NS | Bloomberg: UTCEM IS/UTCEM LX

Agenda

Macro and Sectoral update

Business update

ESG update

Financial performance

Macro and Sectoral Updates Demand drivers and policy tailwinds

Andhra Pradesh Cement Works

Macro Indicators

Upward revision of GDP estimate from 6.5% to 6.8% by RBI

CPI slowed further in September, to 1.54% YoY

Reduction in Personal Income Tax rates along with reduction in GST slab rates expected to boost demand

Continuous budgetary support for affordable housing in both Rural and Urban India to boost demand further

Above normal monsoon, better water reservoirs levels, good crop sowing, MSP support is expected to boost rural cash flows and economy

Source: Research Reports

Sectoral Update Q2 FY26

Zone

Key Drivers

North

Central

East

West

South

❖ Housing registered overall growth. Adverse weather conditions impacted demand in certain regions ❖ Infrastructure registered degrowth on account of monsoons in parts of Punjab, Uttarakhand, Himachal Pradesh and Jammu & Kashmir. Completion of major

projects and delay in announcement of new projects

❖ Commercial registered overall growth

❖ Housing and rural registered growth across regions ❖ Infrastructure registered degrowth due to completion of major projects and delay in announcement of new projects ❖ Commercial registered overall growth

❖ Housing registered growth in both rural and urban areas. In Bihar, high pace of work was on account of upcoming elections in November. ❖ In Odisha, sand shortage and delay in fund release in PMAY impacted demand ❖ Infra demand was supported by projects like Patna-Kolkata Expressway, Buxar-Bhagalpur Expressway, Kolkata and Patna metro expansion, airport expansion in

Kolkata and Bagdogra, etc.

❖ Commercial registered growth across regions

❖ Maharashtra: Housing registered overall growth. Mumbai was impacted due to rains ❖ Infrastructure demand was supported by projects like Mumbai metro, Mumbai-Delhi Expressway, Nagpur metro extension, High Speed Rail corridor, various

NHAI projects etc.

❖ Commercial registered strong growth across all regions ❖ Gujarat: Housing registered growth across regions with strong growth coming from rural areas ❖ Infrastructure registered degrowth on account of near completion of major projects like High-Speed Rail, delay in commencement of new projects and labour

shortage on account of festive season

❖ Commercial registered growth across regions

❖ Housing registered growth across regions. Urban demand in Karnataka was impacted due to stringent norms for building sanction, sand and laterite shortage ❖ Infrastructure registered growth on account of projects like Bangalore metro, NH66 Project in Kerala and Karnataka, Integrated Renewable Energy project in

Kurnool, Udangudi port, Bangalore-Vijaywada highway, Bhogapuram airport etc.

❖ Commercial registered growth across regions

Note: I: Infrastructure, C: Commercial, H: Housing, R: Rural, PMAY: Pradhan Mantri Awaas Yojana, NHAI: National Highways Authority of India

Business Update Delivering growth with precision

UltraTech Cement: The largest cement supplier for the construction of extension road and Dwarka expressway in Delhi NCR.

Creative Visuallization

Q2 FY26 Highlights (UltraTech existing assets – 166.76 Mtpa)

Domestic Grey Cement volume growth

Domestic Grey Cement Realisation

7.1%

YoY

4.5%

YoY

Operating EBITDA/t

966

241/mt YoY

Sales volumes

Consolidated Sales volume (mtpa)

Particulars

Q2 FY26

UltraTech

India Cements

Inter Co. Sales

Grey Cement (Domestic)

Export and Others

White Cement

Overseas (Grey + White)

Consolidated Sales Volumes*

29.90

2.44

- 0.76

31.58

0.17

0.51

1.78

33.85

Growth^ (YoY)

9.6%

5.9%

6.8%

- 22.6%

13.0%

7.2%

6.9%

UltraTech brand domestic volume grew: 13.2%

* After eliminating inter-company sales, ^ Growth % calculated based on restated Q2FY25 for Kesoram and taking India Cements (ICL) volume in base. However, ICL became subsidiary of UTCL w.e.f. 24th December 2024.

Q2 FY26 sales performance overview

33.7%

65.7%

18.4%

81.6%

75%

22%

58.7%

41.3%

Trade

Non Trade

Bag Sales

Bulk Sales

Road

Rail

Sea

Direct Sales

Depot Sales

Note: Domestic operations excluding ICL

Ready Mix Concrete

UltraTech’s RMC Footprint

Number of plants

Number of Cities

408

87 YoY

Volume (Mn m3)

3.79

26% YoY

161

27 YoY

Revenue (₹ crores)

1,811

30% YoY

Cement Consumed (Mnt)

RoCE

1.07

25% YoY

30%

Q2 FY26 Operational Highlights

Clinker conversion

Green power mix^

Premium product mix

UBS outlets#

1.48

v/s 1.45 YoY

41.6%

37.4%

5,084

38% YoY

14% YoY

20% YoY

^ Reached 1.19 GW of renewable power capacity and 369 MW of WHRS power, # contributing 20.5% of domestic grey cement sales volume

Organic growth plans on track

Plan for FY26

Plan for FY27

Particulars

Unit

Project

Cement Capacity (mtpa)

Particulars

Unit Project

d e n o i s s i

m m o C

e t a d

l l i t

Nagpur, Maharashtra (Debottlenecking)

Panipat, Haryana (Debottlenecking)

Jhajjar, Haryana (Debottlenecking)

Banswara, Rajasthan (Debottlenecking)*

Maihar, Madhya Pradesh (Phase II)

Patratu, Jharkhand

Shahjahanpur, Uttar Pradesh

Nathdwara, Rajasthan

Dhule, Maharashtra (Phase II)

Visakhapatnam, Andhra Pradesh

Parli, Maharashtra

0.6

0.4

0.3

1.8

2.5

1.8

1.2

0.6

3.3

1.2

Aligarh, Uttar Pradesh Bhagalpur, Bihar Petnikota, Andhra Pradesh Jharsuguda, Odisha Dankuni, West Bengal Chennai, Tamil Nadu * Dalavoi, Tamil Nadu * Kharagpur, West Bengal APCW, Andhra Pradesh Chennai, Tamil Nadu Vapi, Gujarat Mandya, Karnataka Guwahati, Assam Kolkata, West Bengal Panvel, Maharashtra

GU GU IU GU GU GU IU GU IU BT BT BT BT BT BT

B G G B B B B G B G G G G G B

Capacity addition in FY26 (Excl. BT)

14.1

Capacity addition in FY27 (Excl. BT)

Cement Capacity (mtpa)

Earlier 2.7 3.3 2.7 - - - - 3.3 2.7 1.8 1.2 1.2 1.2 1.0 1.0

14.7

Revised 2.7 3.3 3.6 2.3 1.0 1.8 0.4 Dropped Dropped Dropped 1.2 1.2 1.2 1.0 1.0

15.1

Note: G : Greenfield, B : Brownfield, GU : Grinding Unit, IU : Integrated Unit, BT : Bulk Terminal, * India Cements Unit

Change in plant wise capacity expansion as compared to that announced earlier.

Revolutionizing Cement Logistics

Strategic agreement

UltraTech and CONCOR Forge Strategic Partnership for Bulk Cement movement in tank containers

❖ As part of the collaboration, CONCOR will provide storage and unloading facilities at Dronagiri Rail Terminal, Mumbai. Cement movement to take place on CONCOR rakes in tank containers.

❖ This partnership will enable UltraTech in

strengthening its services in major market i.e. Mumbai at optimal Logistic cost. This move will also help in UltraTech’s commitment towards green logistics.

CONCOR: Container Corporation of India Limited

ESG Update Building the future responsibly

Hybrid round-the-clock (RTC) renewable energy project at Sewagram

Marching ahead sustainably

Climate and Energy

Circular Economy

Environment

Green Power

ESG Metric

Scope 1 Net CO2 Emission [kg CO2/t cement]

Alternative Raw Materials and Fuel

(Mnt)

Water Positive

(times)

Green Power Mix

(% of total power)

H1FY26 Performance*

540

1.8% YoY

FY32 target: 462

24.03

12% YoY

5.6 x

40.5%

32% YoY

FY30 target: 85%

Note: Unaudited, * Domestic grey cement operations excluding ICL

ESG Scorecard

Clinker Conversion (times)

1.48

1.45

WHRS Power mix (%)

17.4%

19.2%

Q2FY25

Q2FY26

Q2FY25

Q2FY26

Alternative Fuel mix (%)

7.3%

4.9%

Renewable Power mix (%)

22.3%

12.8%

Q2FY25

Q2FY26

Q2FY25

Q2FY26

Note: Domestic grey cement operations excluding ICL

Leading Sustainably

❖ UltraTech’s community watershed project in

❖ Operationalised India’s first of its kind on site

Key updates

Madhya Pradesh revives biodiversity and boosts rural livelihoods

in Chitakheda, improvements

• Our

internal biodiversity study

•

Neemuch shows striking ecological catalyzed from our watershed management project. This resulted in, significant increase of green cover, 20+ bird species returning after several years. Also, flora have diverse aquatic & moisture-loving reappeared.

hybrid RTC renewable energy project

• Commissioned 7.5MW RTC hybrid renewable energy.

•

This innovative solution integrates solar and wind energy alongside battery storage, to provide uninterrupted energy during cement manufacturing process without any reliance on grid power.

Note: RTC: Round-the-clock

CSR initiatives

Restored lifeline for community in Karamta, Kutch

❖ Karamta, located 130 kms from Bhuj, is a small hamlet, home to 60 families. The region faces an arid, dry climate, and water scarcity has been a pressing challenge.

❖ The families relied on a 40-foot-deep well, located outside the vicinity of hamlet. The well had deteriorated with cracked walls, overgrown paths, and the absence of a protective structure made access difficult and dangerous.

❖ UltraTech rebuilt and reinforced the well’s structure, sanitized the water, installed a secure cover to prevent any accidents, paved surrounding areas for safe access and educated locals on groundwater harvesting techniques.

Sewagram Cement Works

87,839 beneficiaries’ from various healthcare initiatives

38,741 beneficiaries’ learning level improved

9,975 beneficiaries’ of skill development programs

Dhar Cement Works

Jafrabad Cement Works

Baikunth Cement Works

ESG Ratings

S&P Global CSA Score (2025)

S&P Global CSA Rank (2025) (DJSI, Sector: Construction Materials)

Climate (2024)

Water (2024)

ESG Score (2023)

ESG Rating (2024)

NSE Sustainability Ratings & Analytics (2024)

8th

Financial Performance Strong fundamentals, solid future

Revenues Mix

Particulars

Consolidated Revenue

Q2 FY26

₹ Crores Growth^ (YoY)

Grey Cement (Domestic)

15,217

14.6%

Export & Others

White Cement

ReadyMix Concrete (RMC)

Construction Chemicals

Overseas (Grey + White)

India Cements

617

1,811

283

1,023

1,115

-16.0%

17.5%

29.6%

32.2%

23.0%

Consolidated Revenue*

19,371

21.3%

* After eliminating inter-company sales, ^ Growth % calculated based on restated Q2FY25 for Kesoram

Operating EBITDA/Mt (UltraTech existing assets – 166.76 Mtpa)

Particulars

Volume (Mnt)

Op. EBITDA (₹ Crores)

Op. EBITDA ₹/Mt

UltraTech Existing Operations

29.71

2,871

966

India Cements

Kesoram Cement Assets

2.44

1.70

129

UltraTech Consolidated

33.85

3,094

386

755

914

Profitability

EBITDA (₹ crores)

4,591

2,253

3,268

Y o Y

% 5 4

PAT (₹ crores)

2,226

703

1,232

Y o Y

% 5 7

Q2FY25

Q1FY26

Q2FY26

Q2FY25

Q1FY26

Q2FY26

Note: Q2FY25 numbers restated for Kesoram

Sales Realisation

Grey Cement Realisation (Domestic) (₹/Mt) 5,163

5,088

4,868

Q2FY25

Q1FY26

Q2FY26

Realisation improved 4.5% YoY and declined 1.4% QoQ

Note: Realisation = Selling Price net of GST less Discounts

Key Cost Indicators (Grey Cement): Q2 FY26

Logistics

Fuel

Power

Raw Materials

% of total costs

₹/Mt

YoY

QoQ

28%

1,136

21%

893

372

16%

661

Note: Domestic operations excluding ICL, Variance % calculated based on restated Q2FY25 for Kesoram

Logistics Cost (Grey Cement)

Logistics costs (₹/Mt)

1,209

1,158

1,136

Q2FY25

Q1FY26

Q2FY26

6% cost decrease YoY ❖ Primary lead distance reduced to 366 kms

in Q2FY26 v/s 388 kms in Q2FY25

❖ Sustainable improvement in logistics

efficiencies

2% cost decrease QoQ

❖ Primary lead distance reduced to 366 kms

in Q2FY26 v/s 370 kms in Q1FY26

Note: Domestic Operations excluding ICL, Last year numbers restated for Kesoram

Fuel Cost (Grey Cement)

Fuel Cost (₹/Mt)

951

871

893

Fuel Rate (₹ /Kcal)*

1.85

1.78

1.75

1.78

1.80

Q2FY25

Q1FY26

Q2FY26

Q2 25

Q1 26 Q2 26

Cost decreased 6% YoY

Petcoke Consumption Mix

❖ Blended imported fuel consumption (CV:

7500) at $ 125/t; 5% lower YoY

54%

58%

54%

52%

44%

❖ Savings on account of improved clinker

conversion to 1.48 v/s 1.45 YoY

Q2 25

Q1 26 Q2 26

Note: Domestic Operations excluding ICL, * Fuel Rate ₹/Kcal = cost per Mt of fuel/Net CV (Net off moisture loss), Last year numbers restated for Kesoram

Power Cost (Grey Cement)

Power Cost (₹/Mt)

403

356

372

Green Power Mix

41.6%

39.5%

30.2%

Q2FY25

Q1FY26

Q2FY26

19.5%

Q2 23

Q2 25

Q1 26Q2 26

8% cost decrease YoY

5% cost increased QoQ

❖ Green Power Mix has increased to 41.6% v/s 30.2% in Q2FY25

❖ Increase in power consumption led by plant maintenance during the quarter

Note: Domestic Operations excluding ICL, Last year numbers restated for Kesoram

Sources of Power (Grey Cement)

Particulars

Captive Thermal Power

State Grid and Others

Renewable Energy

WHRS

Power Cost (₹/Kwh)

Total Power Consumed (Kwh/t. of Cement)

Q2 FY26

Q2 FY25

Power Mix

38.1%

20.3%

22.3%

19.2%

Rate (₹/Kwh)

6.9

7.1

4.6

0.8

Power Mix

46.1%

23.7%

12.8%

17.4%

Rate (₹/Kwh)

7.1

6.7

4.6

0.7

5.3

70.7

5.6

72.4

Note: Domestic Operations excluding ICL

Raw Material Cost (Grey Cement)

Raw Material Cost (₹/Mt)

661

632

628

Q2FY25

Q1FY26

Q2FY26

Raw Material Cost Index Fly ash Limestone Raising

Gypsum

108

101

Q2 25

105

101 98

101

Q1 26 Q2 26

100

Q2 24

5% cost increased YoY

5% cost increased QoQ

❖ Clinker conversion at 1.48 v/s 1.45 in Q2

FY25

❖ Increase in cost of raw materials

Note: Domestic Operations excluding ICL, Last year numbers restated for Kesoram

Other Costs

Other Cost (₹/Mt)

842

687

901

WPI

100

101

Q2FY25

Q1FY26

Q2FY26

Q2 23

Q2 25

Q1 26 Q2 26

31% cost increased QoQ

❖ Mainly on account of plant maintenance,

higher advertising spend during the quarter

❖ Impact of operating leverage

Note: Domestic Operations excluding ICL, Last year numbers restated for Kesoram

Operational Performance

Q2FY25

Standalone

Consolidated

15,233 332 187 15,752

2,394 418 (148) 896 3,930 3,780 2,354 13,623 2,129

15,967 327 226 16,521

2,635 404 (119) 954 4,122 3,820 2,452 14,267 2,253

Particulars

Net Sales Other Operating Income Other Income Total Income Expenses: Raw Materials Consumed Purchase of Traded Goods Changes in Inventory Employee Costs Power and Fuel Logistics Cost Other Expenses Total Expenses EBITDA

₹ Crores

Q2FY26

Standalone

Consolidated

17,632 232 73 17,937

2,780 879 (56) 941 3,866 3,926 2,757 15,094 2,843

19,371 236 174 19,781

3,384 579 (72) 1,064 4,444 4,127 2,986 16,513 3,268

*Q2FY25 numbers restated for Kesoram

Financial Statement

Q2FY25

Standalone

Consolidated

15,233

2,129

15,967

2,253

358

926

165

680

393

980

171

(1)

703

Particulars

Net Sales

EBITDA

Finance Costs

Depreciation and Amortization

Tax expenses

Share of Profit/(Loss) from JVs & Associates

Minority interest

PAT

₹ Crores

Q2FY26

Standalone

Consolidated

17,632

19,371

2,843

396

1,002

381

3,268

459

1,148

418

(6)

1,064

1,232

*Q2FY25 numbers restated for Kesoram

Financial Position

Mar-25

Standalone

Consolidated

Particulars

82,881

12,999

(2,997)

92,883

69,678

19,460

4,452

15,008

8,198

92,883

1,02,268

Net Fixed Assets^

1,651

(2,843)

Non-Current Investments

Net Working Capital

1,01,076

Application of funds

73,893

23,031

5,362

17,669

9,514

Shareholders Fund (Incl. Minority Interest)

Gross Debt

Less: Treasury Surplus

Net Debt

Deferred Tax Liability

1,01,076

Sources of funds

₹ Crores

Sep-25

Standalone

Consolidated

85,593

12,742

(2,087)

96,249

70,752

20,704

3,571

17,133

8,364

96,249

1,05,133

1,865

(1,650)

1,05,348

75,967

24,246

4,539

19,706

9,675

1,05,348

^Includes goodwill and asset held for sale

Consolidated Cash Flow

Particulars

EBITDA

Less: Interest & lease payments

Less: Taxes paid (Net of refunds)

Less: Change in working capital

Operating Cash Flow

Less: Capex spends (Incl. Solar Investment)

Less: Investment in Wonder Wall Care

Add: Sale of shares in Subsidiary/ Asset held for sale

Free Cash Flow to Equity

Less: Dividend

Less: Proceeds /(Purchase) of Treasury Shares (net)

Free Cash Flow

₹ Crores

H1FY26

7,859

(886)

(40)

(2,057)

4,875

(4,880)

(234)

838

599

(2,264)

(102)

(1,768)

Awards and Accolades

UltraTech Cement’s Units Shine Bright at CII Awards

in UltraTech has once again raised the bar sustainability and energy excellence, bagging prestigious awards at the 26th CII National Award for Excellence in Energy Management 2025.

Sr. No

Unit

Pali Cement Works, Rajasthan

Balaji Cement Works, Andra Pradesh

Baga Cement Works, Himachal Pradesh

Maihar Cement Works, Madhya Pradesh

Rajashree Cement Works, Karnataka

Kotputli Cement Works, Rajasthan

Hotgi Cement Works, Maharashtra

Ratnagiri Cement Works, Maharashtra

Patliputra Cement Works, Bihar

Disclaimer

Statements in this ‘presentation’ describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Company’s operations include global and Indian demand supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Company’s principal markets, changes in governmental regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statement, due to any subsequent development, information or events, or otherwise.

UltraTech Cement Limited Regd. Office: Ahura Centre, Mahakali Caves Road, Andheri (E), Mumbai – 400 093 [Corporate Identity Number L26940MH2000PLC128420]

www.ultratechcement.com or www.adityabirla.com investorrelations.utcl@adityabirla.com

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