WELSPUNLIVNSE13 November 2025

Welspun Living Limited has informed the Exchange about Investor Presentation

Welspun Living Limited

WLL/SEC/2025

November 13, 2025

BSE Limited Department of Corporate Services, SP. J. Towers, Dalal Street, Mumbai – 400 001 (Scrip Code‐514162)

National Stock Exchange of India Limited Listing Compliance Department Exchange Plaza, Bandra‐Kurla Complex, Bandra (E), Mumbai – 400 051 (Symbol: WELSPUNLIV)

Dear Sirs/Madam,

Subject: Analyst / Institutional Investor meeting – Welspun World Investor Presentation.

This is reference to our letter dated November 10, 2025, attached is the Welspun world investor presentation, which will be made during investor meeting.

The Welspun World Investor Day is scheduled from 9:00 a.m. to 5:00 p.m., wherein registration and breakfast will take place from 9:00 a.m. to 11:00 a.m., followed by the presentations commencing at 11:00 a.m. and subsequent sessions as per the event agenda.

The same is for your information and record, please.

Thank you,

For Welspun Living Limited (Formerly known as Welspun India Limited)

Shraddha Popat Company Secretary ACS: 54561

Enclosed: Welspun World Investor Presentation as mentioned above

Schedule

Time

Event

11:00 am to 1:00 pm

Chairman’s Presentation

1:00 pm to 2:00 pm

Lunch / Networking

2:00 pm to 3:00 pm

Presentation by WCL/WEL/WLL

3:00 pm to 4:00 pm

Presentation by WCL/WEL/WLL

Corporate Film

Recapping Last Year

Capital Allocation Focus, Exit non-core

Guide to hi-quality return

ROCEs @ ~20% across companies

Revenue CAGRs @ 15-20%

EBITDA margins @ mid-teen

Credit rating

Other fundamentals – ‘Always in place’

Global - Home Textiles

Flooring

Advanced Textiles

Water Infra & Treatment

Transport Infra

Tunnelling

O & M Capability

Global Line Pipe

Building Materials (Plastic Pipes & Tanks, TMT)

Integrated producer from steel-making to finished products

REVENUE ~₹30,000 Crores

EBITDA ₹4,000+ Crores

Workforce 35,000+

Customer Presence in 50+ Countries Associated with fortune 100 (O&G majors, Top retailers)

Continuous Growth Momentum

WELSPUN GROUP REVENUE

30,470

28,657

15,755

18,009

21,195

FY 21

FY 22

FY 23

FY 24

FY 25

WELSPUN GROUP EBITDA

3,935

4,039

2,743

2,770

2,070

25.0%

20.0%

15.0%

10.0%

5.0%

0.0%

4100

2900

1700

500

35,000

30,000

25,000

20,000

15,000

10,000

5,000

5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -

ROCE

17.4%

15.4%

9.7%

23.7%

21.8%

FY 21

FY 22

FY 23

FY 24

FY 25

WELSPUN GROUP NET DEBT

1.3

1.5

4182

3572

0.8

1585

0.4

1531

FY24

0.3

1108

FY 25

1.6

1.4

1.2

0.8

0.6

0.4

0.2

FY 21

FY 22

FY 23

FY 24

FY 25

FY21

FY22

FY23

Net Debt

Net Debt to EBITDA

Balance Sheet

5.0

4.0

3.0

2.0

1.0

0.0

2000

1500

1000

500

FIXED ASSET T/O RATIO

3.9

3.1

3.7

2.9

3.2

FY 21

FY 22

FY 23

FY 24

FY 25

Market Leading Returns’ & Sweating Assets

Despite Group spending ₹ 7,000 Crores over 5 years, our Net debt has gone down and Credit rating has improved

CREDIT RATING

Welspun Corp Limited

CRISIL/AA+/Stable

Welspun Enterprises Limited

CRISIL AA-/Stable

CAPEX CYCLE

1750

1707

1158

1581

Welspun Living Limited

806

CARE AA/Stable

FY21

FY22

FY23

FY24

FY25

Continuous Growth Momentum

CUMULATIVE ~₹3,200 CRORES RETURNED TO SHAREHOLDERS

GROUP MARKET CAPITALISATION (₹ CRORES)

3,000

2,500

2,000

1,500

1,000

500

460

1 8 6 , 2

666

5 1 0 , 2

266

9 4 7 , 1

168

1 8 5 , 1

368

3 1 2 , 1

FY21

FY22

FY23

FY24

FY25

Previous FYs

Current FY

Consistent Shareholder Return – Dividend & Buyback

50,000

45,000

40,000

35,000

30,000

25,000

20,000

15,000

10,000

5,000

44,599

33,456

14,344

15,304

15,521

Mar 21

Mar 22

Mar 23

Mar 24

Mar 25

Group Market Capitalisation

Vision

TOUCHING 1.4 BILLION HEARTS

Framework

3G’s

Governance

Green

Growth

Governance

No pledging / Cross Holdings

Robust Compliance

‘One Welspun’ Process

Strong Independent Board

Professionally Managed

Capital Allocation

THE FOUNDATION – FIRMLY IN PLACE

Leadership Team in Place

Robust leadership programs drive next level of growth

Values & Culture that Empower Success

LEARNING Learn, Unlearn & Relearn discover something new everyday

INNOVATION Do things differently and do different things

ENDURANCE Push beyond your limits and aspire for more

TRUST Make Truth and transparency a virtue

 Digitized 790+ classrooms, reaching 180,000+ students and training 3,000+ government teachers

 Agricultural initiatives across 450+ villages, benefiting 98,000+ farmers and farmworkers

 Supported 370+ women entrepreneurs across 120+ villages, impacting 71,000+ individuals

Green - Growing Business Responsibly

Carbon Neutral  Around 17 crore units (kWh) of green electricity consumed in last FY avoiding 1.2 Lakh MT of CO2 emissions

 Commissioned 60+ MW of solar

power plants to date

Community  Program operational in over 9

states across India

 In FY25, community initiatives benefitted 1.1+ million lives

Water  Zero fresh water used for

industrial operations at Anjar

 Over 8 billion litres of sewage treated and recycled annually

Farmers  76% of cotton sourced from certified sustainable sources

 Sustainable farming program

active in 5 states covering over 2.5 lakh acres of farmland

 No. 1 ESG ranked company from India  Top 2 %ile globally

 Ranked 6th among companies in steel

sector globally

ESG ratings Dow Jones Sustainability Indices

48 2022

59 2023

66 2024

83 2025

41 2022

57 2023

68 2024

73 2025

Welspun Living Limited

Welspun Corp Limited

OUR TOMORROW

Welspun World: Future Growth

Continuing dominance in CORE businesses; driving high growth in NEW businesses

Maintain ~20% ROCEs & healthy Asset Turns >3.0x

Home Textiles – Export

Large diameter Pipes

Transport and Water Infra

Integrated producer from steel- making to finished products

Welspun Living

Welspun Corp

Welspun Enterprises

WSSL

Scale new business

Profitable Growth

Solid Execution

Deepen core business MOATs

Exponential Growth in NEW businesses 15-20% CAGR

Multiples of Growth – business & value @ 15-20% CAGR

High US tariffs

Towels – Largest global capacity in the world

Sintex B2B, B2C

Investment in pipe underway

USA/KSA – Globally largest LSAW company in the world and one of the largest in DI

₹ 5500 crores CAPEX spread over 3-4 years in USA

Water - Transportation, Treatment and distribution

Focus is on Water

Tunnelling

Welspun Living

Welspun Corp

Welspun Enterprises

Welspun Living: Global Home Solutions Leader Near term headwinds because of the largest market in the US.. Tariff..tariff…tariff

. e s o p r u p

n o i t a t n e s e r p e r

r o f

y n o , e a c s

o t

t o n p a M

$1.25 Bn Revenue

14-15% EBITDA (avg.)

50+ Countries

ROW

47 Patented Technologies

Top 4 Globally in ESG #1 in India (DJSI)

Top 10 India’s Best Companies to work for

The Tariff Tango…

Reciprocal Tariff:

India: Strong, Stable, Sustainable Sourcing Hub

India

50%

China

27.5%

Fentanyl-linked duties lowered to 10%

Pakistan

Bangladesh

Vietnam

19%

20%

Turkey

15%

40% additional tariff on transshipments

India’s rising trade - Upcoming FTAs: Any kind of challenges gives an opportunity

Economic Strength

Trade Agreements

Raw Material & Workforce

Government Initiatives like GST

India-US BTA in progress Aim to enhance their bilateral trade volume to $500 billion by 2030

Future Opportunity

Canada CEPA ~$ 1.5 Bn*

UK FTA $ 4-5 Bn*

EU FTA $ 25-30 Bn*

UAE CEPA $ 1-1.5 Bn*

GCC/ ME $ 2-2.5 Bn*

ASEAN Regions ~$ 15 Bn*

Australia ECTA $ 2-2.5 Bn*

FTAs under discussion

FTAs implemented

New Zealand FTA $ 300 Mn*

Note: * Indicates home textile market size (Source: Mordor Intelligence, Internal analysis)

Map not to scale, only for representation purpose.

Global Footprint & Category Expansion

Scaling Onshore in US through Pillows

Strengthening Market share: EU and UK

Building the next frontier: ROW business

$1.5 Bn Us market

2nd most sold (by units) after bath towels

13.5 mn pcs Annual capacity of Ohio facility

10.8 mn pcs Upcoming Investment in Nevada

$110M Revenue potential

#1 Exporter of Towels to UK from India

~20% current share of business

~7% current share of business

#1 Vision to be global market leader in Towels

2X-3X growth potential with upcoming FTAs

100+ countries vision from current footprint of 50+

IKEA

Steady Track Record in Last 5 Years

REVENUE (₹ Crores)

PROFITABILITY %

CAGR 9%

9377

8215

10697

9825

6836

7408

12000

10000

8000

6000

4000

2000

19.2%

15.2%

12.3%

13.8%

13.4%

15.4%

14.6%

13.6%

12.9%

10.6%

5.7%

FY20

FY21

FY22

FY23

FY24

FY25

FY20

FY21

FY22

FY23

FY24

FY25

CAPEX (₹ Crores)

701

525

453

543

275

FY20

FY21

FY22

FY23

FY24

FY25

EBITDA %

ROCE %

NET DEBT (₹ Crores)

2333

1.6

2229

1.8

1.6

1534

1603

1.1

1354

0.9

2.5

2.0

1.5

1.0

0.5

0.0

2962

2.3

3500

3000

2500

2000

1500

1000

500

FY20

FY21

FY22

FY23

FY24

FY25

Net Debt

Net Debt/EBITDA

Uncertainty in the current environment because of Tariff

Every Crisis is an Opportunity

15000 Medium Term

Global Footprint and Category Expansion

~40% share outside US currently

₹1500 Crores+ Own Brands Business in Medium Term along with India business

20+% growth aspiration in soft flooring business

++ Cost and Efficiency Focus

EBITDA% >>> 15-16%

Revenue in ₹ Crores

10697

9% CAGR

6836

5% CAGR

5395

FY15

FY20

FY25

Branded business share* >>>

11%

14%

18%

Note: Medium Term refers to next 3 to 4 years; * Including Own and licensed brands

Sustainability: Growing Business Responsibly

S&P Global ESG Score

8 2021

48 2022

59 2023

66 2024

83 2025

83 / 100 Global Rank Top 4 India: Rank 1 in Textile, Apparel & Luxury category

Goal 2030

100% Carbon Neutral (measured as % RE)

100% Sustainable Cotton

0 Fresh Water (+) in Production operations

0 Hazardous waste to Landfill (MT)

1 Mn Lives in CSV (cumulative)

Another example of how we used Crisis as an opportunity

Summary: Welspun Living

We remain committed to long-term value creation

Revenue ~ ₹15,000 Crores

EBITDA Margin 15% - 16%

Net Debt ~ ₹1000 Crores

Regional Expansion

Medium Term Aspiration

ROCE % 15% - 18%

Another example of how we used Crisis as an opportunity

Category Expansion

Scaling up Brands

Product Portfolio

LARGE DIAMETER LINE PIPES

Largest Player Globally

DUCTILE IRON PIPES

Formidable player in India and KSA

Pipes up to DN 2600 (very few plants in the world)

SINTEX

WSSL

National iconic brand with pan-India presence

Integrated producer from stainless steel- making to finished products

Welspun Corp – Continuous Growth Momentum

2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 -

1300

100

-1100

EBITDA

CAGR 13%

1,804

1,858

25.0%

20.0%

17.4%

1,152

1,023

805

15.0%

10.0%

5.0%

0.0%

20.4%

23.5%

21.0%

ROCE

15.4%

7.9%

FY21

FY22

FY23

FY24

FY25

FY 21

FY 22

FY 23

FY 24

FY 25

H1 FY 26

NET DEBT

1.41

1138

0.21

387

FY23

FY24

-1049 FY 25

-447

FY21

-0.39

-173

FY22

-0.17

Net Debt

Net Debt to EBITDA

-0.56

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

Total Order Book Value stands at ~ ₹23,500 Crores

Line Pipes: USA

 Largest player in USA

 Only player offering Pipes 6” to 60” OD incl.

DJ and Coating

 Impeccable quality track record

Capacity (KMTPA)

350 HSAW

350 HFIW

300 LSAW*

>1MN MT TOTAL

*Upcoming

Growth Drivers: USA

LNG Exports & Permian Play

Data Centers

NGL

. e s o p r u p n o i t a t n e s e r p e r

r o f

y n o , e a c s o t

t o n

p a M

LNG Exports & Permian Play

LNG Export

 To grow from 16 bcfd to >25 bcfd in next 3 years

 USA is the largest producer and exporter of LNG

 Key LNG export destinations: Asia & Europe

 Alaska LNG also being developed

Permian Play

 To grow from ~22 bcfd in 2024 to >28 bcf/d by 2030

 Additional 2 to 3 Permian pipelines for LNG exports

Map not to scale, only for representation purpose.

NGL

NGL (Natural Gas Liquids)

 Total NGL production in USA is ~7 MMbpd

 Permian contributes >55% of total NGL production

Map not to scale, only for representation purpose.

Data Centers

 Medium term

requirement for NG - 8 to 10 bcfd

 This will require dedicated 4 to 5 pipelines

Value Chain:

Line Pipes

Power Plant & Turbines

EPC

AI Data Centers Servers

Summary: USA

Largest Player

Robust potential of 8,000 to 9,000 miles of Pipelines

Robust growth potential

Pipes: Kingdom of Saudi Arabia

Capacity (KMTPA)

500 HSAW (EPIC)

350 LSAW*

250 DIP*

>1MN MT TOTAL

 To be the largest player in KSA

 Greenfield projects: Both of them to

be operational by Q1FY27

 Impeccable track record with Aramco

 DIP size range up to DN 2600 (very

few plants in the world)

*Upcoming

Map not to scale, only for representation purpose.

Welspun Presence

VISION 2030: Kingdom of Saudi Arabia

 New Energy: capture 25% of the global hydrogen demand by 2030

 Oil for Exports and NG for Domestic

Consumption

 Gas Production

 Water Transmission

 Water Distribution

 Export Opportunity

 4,000 KM of Pipelines for O&G

 2,000 KM of Large Dia

Transmission Lines (HSAW) for Desalinated water

 Import Substitution of 200 KMT of DIP for Infra, Sewage and Water Distribution

Pipes: India

Capacity (KMTPA)

765 HSAW

350 LSAW

200 ERW

600 DIP

~2MN MT TOTAL

 Offering full range of pipes: 1.25” to 144” OD along with all types of coatings

 Largest exporter of LSAW pipes to niche projects globally

 Complete solutions for water: MS + DIP + Plastic pipes

 State of the art and the only H2 lab in India for testing in collaboration with DNV

Growth Drivers: India

 LSAW and DIP Exports

 Expansion of Gas Grid

 CGD

 Hydrogen Pipelines

 Ethanol blending

 River Interlinking Transmission

 Potable Water Distribution

 Sewage Network expansion

Sintex: National Iconic Brand with Pan-India Presence

 Expanding product range from Water Storage

Tanks to Plastic Pipes

 Increase in Total Addressable Market (TAM)

 Full range of plastic pipes: HDPE, UPVC,

CPVC, SWR and OPVC

 B2B & B2C play

Map not to scale, only for representation purpose.

Growth Drivers: Sintex

Channel Expansion

WST AND PLASTIC PIPES

356

368

374

Channel Expansion

Premiumization

Brand Building

Digitization

Plastic Pipes

7 Systems Launched

438

467

402

66,679

52,236

35,204

23,253

26,142

27,800

19,942

4,172

20,661

10,035

21,398

19,348

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q2 FY26

Distributor

Retailer

Plumber

+1: Anti-Microbial

+1: Anti-Rodent

Hot & water Management System - CPVC Pipes & Fitting

Potable water Management System - UPVC Pipes & Fitting

Sewerage, Waste, Rain water Management System - PVC Pipes & Fittings

Drainage System Pipes & Fittings

UPVC Pipes & Fitting

Reclaim Pipes

Surface Drainage

Sintex: Way Forward

 CAPEX restricted to ~ ₹1150 Crores

 Soft launch for pipes done. Encouraging endorsement

 Revenue ~ ₹2000 Crores+

 Industry level margins : Mid teens EBIDTA

 Profitability to improve over next 3 to 4 quarters

WSSL - Integrated producer from steel-making to finished products

Capacity (KMTPA)

150 SS Bars

18 SS Pipes & Tubes

 Only fully integrated facility in India from

Stainless Steel making to Pipes

 Product acceptance in both domestic and

international markets

 Recognized Player in Premium and Niche

markets

WSSL Financials: Turn-around Story

EBITDA (₹ Crores)

77.3

56.2

31.5

0.7

FY2021

FY2022

FY2023

FY2024

FY2025

(19.0)

100.0

80.0

60.0

40.0

20.0

(20.0)

(40.0)

300.0

250.0

200.0

150.0

100.0

50.0

(50.0)

(100.0)

Net Debt/ (Cash) ₹ Crores

245.9

232.5

265.1

177.9

FY2021

FY2022

FY2023

FY2024

FY2025

(76.3)

Growth Drivers: WSSL

 Power, Defence, Space and Nuclear sectors:

Growth areas for next 5 years

 Strong Government support: “Make in India”

initiative

 Import restrictions, quality control

order and anti-dumping – eliminating cheap imports from China

Welspun Corp - ESG

Ranked 6th among companies in Steel Sector globally in 2024

S&P Global DJSI ESG RATINGS

2020

2021

2022

2023

2024

Long Term Sustainability Goals

Carbon Neutrality by 2040

Water Neutrality by 2040

Zero waste to landfill

Summary: Welspun Corp

 Largest Global Player in

Line Pipes

 Size, Scale and Approvals

 Growth from KSA, USA

Data Centers, India Water

and Exports

 Sintex: B2B + B2C

 Governance – Gold

Standard

 Sharp Focus on

Sustainability

Growth: 3 Years

Revenue

EBITDA

10% to 12% CAGR

>15% CAGR

ROCE

Capex

22% to 23%

₹ 5,500 CRORES

Net Debt

Net Cash

Welspun Enterprises Limited

Welspun Enterprises: Delivered what we promised

Water

Transport

Tunnel

Unique & valuable water company

 Largest multi-storied WwTP (Dharavi)  Largest Water treatment plant (Bhandup)  Bagged Panjrapur Water treatment plant

High Quality BOOT project

Won Pune Shirur Elevated Highway BOT (Toll)

 Acquired Michigan & built inhouse

capabilities

 Strengthening the capabilities to

drive growth

Dharavi WWTP India's First multi -storied WWTP

Aunta-Simaria Bridge India's widest extra-dosed cable-stayed

Mithi Tunnel

Transmission

Treatment

Roads

Elevated structure

Metro Rail

Micro

Medium

Large

Infrastructure Play across Verticals with Opportunity of ~₹ 18 Lakh Crores

Water

Transport

Tunnel

Opportunity Size - ₹ 5,75,000 Crores TAM - ₹ 2,10,000 Crores

Opportunity Size - ₹ 6,50,000 Crores TAM - ₹ 2,50,000 Crores

Opportunity Size - ₹ 6,00,000 Crores TAM - ₹ 2,00,000 Crores

 Budgetary surge of ~ ₹6 lakh Crores between 2020-25 - an increase of ~6x over 2015-20 & expected to grow at a min. CAGR of 10%

 Technology partners- Xylem,

Veolia, etc.

 Strengthening O&M

capabilities for a sustainable business model.

 Rapidly expanding highway network ~1,46,000 kms in 2025 to ~1,85,000 kms in 2030

 Clear focus on BOT (Toll) and

HAM projects

 Stringent NHAI norms

plus larger project sizes present a huge opportunity for well capitalized players

 Tunnelling - a solution

for urbanization

 ~ 3,000 km in 10 years as

against ~2,500 km in 75 years.

 Enhancing in-house tunnelling capabilities including large diameter tunnels.

Additional medium term order book ~ ₹ 65,000 - ₹ 70,000 Crores

TAM- Total Addressable Market

Governance Goals - Stakeholder focused

Prudent capital allocation: Selective bidding, Clear focus on margins

Asset light: 6 assets monetized, ASRP on track for monetization

Independent & Strong Board: All statutory committees chaired & comprise of majority Independent Directors

Steady Track Record in Last 5 Years*

CAGR ~14%

CAGR ~25%

3,695

8,437

8,400

10,100

1,530

1,401

13,800

14,354

2,758

2,872

FY 21

FY 22

FY 23

FY 24

FY 25

FY 21

FY 22

FY 23

FY 24

FY 25

Order Book (in ₹ Crores)

Revenue (in ₹ Crores)

CAGR ~24%

730

616

313

323

391

FY 21

FY 22

FY 23

FY 24

FY 25

EBITDA (in ₹ Crores)

* At Consolidated level

Steady Track Record in Last 5 Years

Net Debt/Equity

1.0

1.1

FY-21

FY-22

FY-23

-0.6

0.1

FY25

FY-24 -0.2

1.5

1.0

0.5

0.0

-0.5

-1.0

RoCE 18.3%

18.3%

16.1%

10%

20%

15%

10%

FY-21

FY-22

FY-23

FY-24

FY25

350

300

250

200

150

100

Payback to investors (₹ in Crores)

303

135

FY-21

FY-22

FY-23

FY-24

FY25

Green - Sector leading in ESG Rating

CRISIL

55 Progressive

Industry Average

Sustainalytics

36 Stable

Transition Zone

Advancing Low-Carbon Infrastructure

Note: ESG Data. FY 24 - 25

Summary: Welspun Enterprises

 Order book continues to grow at CAGR @~ 20-25%

 Revenue continues to grow at CAGR @ ~15-16%

 EBITDA margins @ ~18-20%

 Average RoCE continues @~18-20%

 Maintain strong liquidity position

 Strong Credit Rating in AA Category

Governance & Stakeholder focused

Capital Allocation Focus

Guide to hi-quality return

ROCEs @ ~20% across companies

Revenue CAGRs @ 15-20%

EBITDA margins @ mid-teen

Credit rating

Other fundamentals - ‘Always in place’

Strategic Pillars

Growth Sustainable expansion, balancing organic and inorganic growth.

R&D and Innovation Building a culture of innovation, |where R&D drives differentiation and competitiveness.

Sustainability Commitment to Governance, People, Planet, and Profit philosophy.

Product Enhancement

Shift from volume-based to value- based growth, improving margins and customer stickiness.

Profitability

ROCE (Return on Capital Employed) is the key KPI, signalling disciplined capital allocation and efficiency in returns.

Governance & Wealth Creation

All these priorities converge towards shareholder value creation.

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