TRAVELFOODNSE12 November 2025

Travel Food Services Limited has informed the Exchange about Investor Presentation

Travel Food Services Limited

Date: 12th November, 2025

To, Department of Corporate Services BSE Limited P.J. Towers, Dalal Street, Mumbai-400 001. Scrip Code: 544443

Dear Sir/Madam,

Sub: Investor Presentation

To, Listing Department The National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 Scrip Code: TRAVELFOOD

In continuation to our earlier letter dated 6th November, 2025, please find enclosed herewith copy of the Investor Presentation which will be presented during the Investors/ Analysts call scheduled to be held on Thursday, 13th November, 2025 at 2:30 p.m. (IST) to discuss the Un-audited Financial Results for quarter and half year ended 30th September,2025

The aforesaid information www.travelfoodservices.com.

is also being uploaded on

the website of

the Company-

Kindly take the same on your records.

Thanking You,

Yours truly, For Travel Food Services Limited

Neeta Arvind Singh Company Secretary and Compliance Officer

EARNINGS PRESENTATION Q2 & H1FY26

November 2025

Safe Harbour Statement

This presentation and the accompanying slides (the “Presentation”) have been prepared by Travel Food Services Limited (the “Company”) solely for informational purposes of general public. This Presentation does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum, or an offer to sell or issue or invitation or solicitation to subscribe to or purchase any securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, shall form the basis of or be relied upon in connection with, any contract or binding commitment or investment decision whatsoever. Any offering of securities of the Company will be made only by means of a statutory offering document containing detailed information about the Company and its securities. This document is not financial, legal, tax or other product advice.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable. However, the Company makes no representation, warranty or undertaking, express or implied, as to the truth, accuracy, completeness, fairness, reasonableness or correctness of the information or the opinions contained in this Presentation. No reliance should be placed on its contents by members of the public or an investor or shareholder. This Presentation may not be all-inclusive and may not contain all information that a prospective investor may consider material. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with the Presentation.

The Company may alter, modify or otherwise change in any manner the contents of this Presentation, without obligation to notify any person of such revision or changes. By accessing this Presentation, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.

This Presentation has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. This document and its contents should not be forwarded, delivered or transmitted in any manner to any other person other than its intended recipient and should not be reproduced in any manner whatsoever.

Forward-looking Statements

This Presentation contains certain "forward-looking statements" within the meaning of applicable securities laws and regulations. These forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue”, “predicts”, “plans” or “believe” or the negatives of these terms or other variations on these terms or comparable terminology. These statements include, but are not limited to, those relating to the Company’s business strategy, growth prospects, future financial performance and market opportunities.

Actual results may differ materially from such expectations, projections etc., whether directly or indirectly, expressed or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, known and unknown risks and uncertainties, including, regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any control. These factors may affect our ability to successfully implement our business strategy.

The Company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events.

Travel Food Services Limited

Agenda

Introduction to Travel Food Services Ltd. (TFS)

Financial Performance Update: Q2 & H1FY26

Operational Highlights: Q2 & H1FY26

Financial Track Record

Company Overview

Travel Food Services Limited

Introduction to Travel Food Services Ltd. (TFS)

Message from Managing Director & CEO

VARUN KAPUR

Managing Director and CEO

Dear Stakeholders,

This quarter has been marked by robust execution of operations and mobilisation of new sites, taking us over the 500-outlet mark, thereby reinforcing our leadership position in the sector. With our continued focus on driving profitable growth, we delivered a strong financial performance with system-wide sales growth of 18.4% YoY and adjusted consolidated PAT increase of 15.3% YoY in Q2FY26, despite a short-term moderation in passenger traffic We also successfully enabled a new technology platform, which directly integrates banks & card networks for lounge access to travellers, delivering a seamless experience.

Passenger growth is currently recovering following the temporary slowdown seen since June-25, and we are focused on executing our plans and strategic initiatives to drive business growth, as we enter the seasonally stronger second half. We recently began operations at the reopened Delhi Terminal 2 and are well prepared to commence operations at Cochin International Airport, and the newly built Noida and Navi Mumbai airports.

We are proud of our achievements to date, and we are equally excited about the future & building our business to create value for all our stakeholders.

Travel Food Services Limited

₹ 7,284 Million

System-wide Sales in Q2FY26

18.4%

YoY Growth in System-wide Sales in Q2FY26

15.3%

Growth in Consolidated PAT (on an adjusted basis), in Q2FY26

India’s Largest Travel QSR and Lounge Operator

303 Million1

Air Passenger Traffic at TFS managed Airports in India

135 Brands3

In-house, International & Regional brand partners

26%2

Market Share in India Airport Travel QSRs Market

4643

Travel QSR Outlets across India and Malaysia

1. FY25 data as per CRISIL Report; 2. As per FY25 revenues including Associates and Joint ventures and as per CRISIL Report as of March 31, 2025; 3. As on Sep 30, 2025; 4. All numbers are on a system-wide basis.

Travel Food Services Limited

18 Airports3

Presence across India, Malaysia and Hong Kong

Joint Ventures

With Leading Indian Airport Operators: Adani Airport Holdings Ltd. GMR Airports Ltd.

45%2

Market Share in Indian Lounge Market

373

Lounges across India, Malaysia and Hong Kong

Financial Performance Update: Q2 & H1FY26

Key Highlights of Q2FY26 & H1FY26

Strong quarter & first half of the year with healthy financial performance and key new business wins

System-wide Performance1

System-wide sales were Rs.7,284 million in Q2FY26 and Rs.14,435 million H1FY26, registering 18.4% YoY and 22.4% YoY growth, respectively, despite temporary slowdown in passenger traffic in first half, due to geopolitical tensions and aircraft maintenance issues

Sales Growth

For Q2FY26 Like-for-Like (LFL)2 sales growth was 9.2% YoY and net contract gains3 were 9.3% YoY at a system-wide level. Similarly, for H1FY26 LFL sales growth was 10.4% YoY and net contract gains were 10.0% YoY.

Profit Growth

Consolidated PAT registered strong growth of 15.3% YoY in Q2FY26 and 17.2% YoY in H1FY26, on an adjusted basis4

System-wide Network Expansion and New Business Wins

Now operating > 500 Travel QSR outlets and Lounges on a system-wide basis as of Sep-25. Awarded concession to operate Travel QSR outlets & Lounge at Cochin International Airport, Domestic Terminal and Travel QSR outlets at Delhi IGIA- Terminal 2.

Note : Q2FY25 and H1FY25 adjusted consolidated financials (and therefore YoY comparisons) exclude the one-time impact arising from the deconsolidation of the JV, Semolina Kitchens Limited (Semolina Kitchens), effective October 14, 2024. Therefore, for FY25, we will continue to show the adjustment for this impact up to the anniversary i.e., October 14, 2025.

1. TFS system-wide numbers are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. LFL sales growth refers to growth in revenues generated in the equivalent period of the fiscal year for Travel QSR outlets and Lounge services opened for at least 12 months. Revenues in respect of closed outlets (other than temporary closures) are excluded from the calculation. LFL sales growth is calculated as revenue from Travel QSR outlets and Lounge services in a fiscal year minus revenue from Travel QSR and Lounge services opened for less than 12 months, divided by the revenue from Travel QSR and Lounge services from the previous period minus the Revenue from Travel QSR and Lounge services that were closed during the equivalent period in the previous fiscal year. LFL calculations exclude revenues from management and other services; 3. Net Contract Gains represent revenue in outlets of the Company, and its Subsidiaries/JVs/Associates open for less than 12 months. Prior period revenues for closed outlets are excluded from LFL sales and classified as contract losses. Net Contract Gains are contract gains less contract losses.; 4. Consolidated PAT growth is calculated on Q2FY25 and H1FY25 adjusted PAT numbers, which excludes net profit of Rs.339 million in Q2FY25 and Rs.72 million for H1FY25 from Semolina Kitchens but includes profit in proportion to TFS’ current shareholding in the JV (i.e. Rs.85 million and Rs.18 million, respectively).

Travel Food Services Limited

Q2FY26: System-wide Sales Grew by 18.4% and Consolidated PAT Grew by 15.3% YoY

System-wide sales1 (Rs. Million)

Consolidated PAT2,3 (Rs. Million)

18.4%

15.3%

Particulars (Rs. Million)

Q2FY26

Q2FY25

YoY

System-wide Sales

7,284

6,152

18.4%

Consolidated Sales2,3

3,559

3,420

4.1%

7,284

6,152

849

979

Consolidated PAT2,3

979

849

15.3%

PAT as % of consolidated Sales

27.5%

24.8%

268bps

Q2FY25

Q2FY26

Q2FY25

2, 3

Q2FY26

1. TFS system-wide numbers (including system-wide sales) are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. Q2FY25 consolidated sales and consolidated PAT excludes the impact arising from the deconsolidation of the JV business Semolina Kitchens Limited (Semolina Kitchens), effective 14th October 2024; 3. Q2FY25 adjusted consolidated sales exclude Rs.1,672 million of Semolina Kitchens sales, however related party transaction elimination of Rs.87 million with Semolina Kitchens has been added back. Similarly, adjusted consolidated PAT excludes net profit of Rs.339 million from Semolina Kitchens, but includes profit in proportion to TFS’ shareholding in the JV (i.e. Rs.85 million).

Travel Food Services Limited

Q2FY26: Key Financial Metrics at a Glance

₹7,284 Million

System-wide Sales1

₹3,559 Million

Consolidated Sales

₹1,352 Million

Consolidated EBITDA

₹979 Million

Consolidated Profit After Tax

18.4%

YoY Growth System-wide Sales

4.1%

YoY Growth2 Consolidated Sales

38.0%

EBITDA Margin

27.5%

PAT Margin

₹7.27

Earnings per Share3

Strong Net Debt Position

Consolidated Debt: NIL

Consolidated Cash balance4 of ₹ 7,490 million as on September 30, 2025

1. TFS system-wide numbers are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. Q2FY25 adjusted consolidated financials (and therefore YoY comparisons) exclude the impact arising from the deconsolidation of the JV, Semolina Kitchens, effective October 14, 2024; 3. EPS has been calculated on profit for the period attributable to the owners of the company; 4. Cash Balance includes Cash and Cash Equivalents, other Bank balances and Current investments. 5. All numbers are consolidated, unless mentioned otherwise.

Travel Food Services Limited

Q2FY26: Strong LFL Growth and Net Gains Drive System-wide Sales Growth

Industry Dynamics

❖ In Q2FY26, passenger traffic was temporarily impacted by reduced flight schedules due to additional maintenance and safety procedures that followed the tragic aircraft accident in Ahmedabad. Encouragingly, passenger traffic volumes have begun to recover, with momentum building up in recent weeks.

System-wide Sales

❖ LFL sales growth2 of 9.2% YoY, was driven by ongoing revenue enhancement initiatives, such as menu engineering and targeted promotional

activities. This performance was achieved despite passenger traffic broadly remaining similar to last year for airports at system-wide level(~1% YoY decline).

❖ Net contract gains3 of 9.3% YoY in Q2FY26 reflected the mobilisation of 50 travel QSR outlets in the last 12 months, mainly at the Mumbai, Delhi, Ahmedabad and Hyderabad airports. Additionally, 4 Lounges have been mobilised, with 3 Lounges in India and 1 Lounge in Malaysia.

Consolidated sales

❖ LFL sales growth of 3.8% YoY despite the temporary slowdown in passenger traffic, which for TFS’ consolidated airports saw a decline of 3.5%

YoY in the quarter.

❖ Net contract gains increased by 3.4% YoY benefitting from the mobilisation of new business.

1. Q2FY26 sales growth is calculated on Q2FY25 sales which excludes the impact arising from the deconsolidation of the JV business(Semolina Kitchens), effective 14th October 2024; 2. LFL sales growth refers to growth in revenues generated in the equivalent period of the fiscal year for Travel QSR outlets and Lounge services opened for at least 12 months. Revenues in respect of closed outlets (other than temporary closures) are excluded from the calculation. LFL sales growth is calculated as revenue from Travel QSR and Lounge services in a fiscal year minus revenue from Travel QSR outlets and Lounge services opened for less than 12 months, divided by the revenue from Travel QSR and Lounge services from the previous period minus the Revenue from Travel QSR outlets and Lounge services that were closed during the equivalent period in the previous fiscal year. LFL calculations exclude revenues from management and other services; 3. Net Contract Gains represent revenue in outlets of the Company, and its Subsidiaries/JVs/Associates open for less than 12 months. Prior period revenues for closed outlets are excluded from LFL sales and classified as contract losses. Net Contract Gains are contract gains less contract losses.

Travel Food Services Limited

Q2FY26: Operational Efficiency Driving Margin Improvements

Gross Profit

Profitability Metrics

❖ Gross Profit margin increased to 83.9% in Q2FY26 from 81.1% in

Q2FY25 due to moderate cost inflation and the efficient management of product/service mix.

Operating Profit

❖ EBITDA margin increased to 38.0% in the quarter compared to

35.6% for the same period in the previous year, due to higher gross margin.

Profit After Tax

❖ PAT increased by 15.3% YoY and PAT margin increased by 268bps

YoY supported by growth, cost efficiency and increase in contribution from the share of profit from associates and joint ventures.

Particulars (Rs Million, unless stated)

Consolidated Sales

Gross Profit

Gross Profit Margin

EBITDA

EBITDA Margin

Profit After Tax

Q2FY26 Reported

Q2FY25 Adjusted1

3,559

2,987

83.9%

1,352

38.0%

979

3,4202

2,7722

81.1%

1,216

35.6%

8493

YoY

4.1%

7.8%

288 bps

11.2%

244bps

15.3%

PAT Margin

27.5%

24.8%

268bps

1. Q2FY25 financials are adjusted and exclude the impact arising from the deconsolidation of the JV business(Semolina Kitchens), effective 14th October 2024; 2. RPT elimination of Rs.87 million has been added back to Q2FY25 adjusted consolidated sales, and Rs.82 million of RPT elimination has been added back to Q2FY25 adjusted gross profit; 3. Share of Profit/(Loss) in Associate/JV includes 24.99% of profit from Semolina (as a JV) for the quarter ended Sep-24 of Rs.85 million, which is added to consolidated PAT; 4.EBITDA and EBITDA margin calculation excludes other income;.

Travel Food Services Limited

Q2FY26: Consolidated Profit and Loss Statement – Key Metrics

Particulars (Rs. million, unless stated)

Revenue from Operations

Gross Profit

Gross Margin %

EBITDA

EBITDA Margin %

Profit Before Tax (PBT)

PBT Margin %

Share of Profit/(Loss) in Associate/JV

Tax

Profit After Tax (PAT)

PAT Margin %

Q2FY26 Reported

Q2FY25 Adjusted C = (A) - (B)

3,559

2,987

83.9%

1,352

38.0%

1,096

30.8%

143

260

979

3,420

2,772

81.1%

1,216

35.6%

1,030

30.1%

106

286

849

27.5%

24.8%

YoY Growth

4.1%

7.8%

11.2%

6.5%

15.3%

Deconsolidation + Other Adjustment Q2FY251 (B)

Q2FY25 Reported (A)

1,5852

1,3882

384

396

(85)3

2543

5,004

4,160

83.1%

1,600

32.0%

1,426

28.5%

344

1,103

22.1%

1. Q2FY25 financials are adjusted and exclude the impact arising from the deconsolidation of the JV business( Semolina Kitchens), effective 14th October 2024; 2. RPT elimination of Rs.87 million has been subtracted from the Q2FY25 Semolina Kitchens sales, and Rs.82 million of RPT elimination has been subtracted from the Q2FY25 Semolina Kitchens gross profit; 3. Share of Profit/(Loss) in Associate/JV includes 24.99% of profit from Semolina Kitchens (as a JV) for the quarter ended Sep-24 is Rs.85 million; 4. EBITDA and EBITDA margin calculation excludes other income.

Travel Food Services Limited

H1FY26: System-wide Sales Grew by 22.4% and Consolidated PAT Grew by 17.2% YoY

System-wide Sales

❖ LFL growth of 10.4% YoY in H1FY26 was driven by revenue

enhancement initiatives, despite moderate passenger traffic growth of 1.8% in the first half due to geopolitical tensions and aircraft maintenance issues.

❖ For the first half, net contract gains were 10.0% YoY, reflecting mobilisation of new Travel QSR units and Lounges over the previous period.

Profit After Tax

❖ PAT increased to Rs.1,929 million in the first half, registering

17.2% year-on-year increase in first half on an adjusted basis. Profit growth along with margin increase is driven by sales growth, cost optimization and increase in share of JV profits.

System-wide sales1 (Rs. Million)

Consolidated PAT2,3 (Rs. Million)

22.4%

17.2%

14,435

1,929

11,797

1,645

H1FY25

H1FY26

H1FY25

2, 3

H1FY26

1.TFS system-wide numbers (including system-wide sales) are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. H1FY25 consolidated sales and consolidated PAT excludes the impact arising from the deconsolidation of the JV business Semolina Kitchens Limited (Semolina Kitchens), effective 14th October 2024; 3. H1FY25 adjusted consolidated sales exclude Rs.2,336 million of Semolina Kitchens sales, however related party transaction elimination of Rs.180 million with Semolina Kitchens has been added back. Similarly, adjusted consolidated PAT excludes net profit of Rs.72 million from Semolina Kitchens, but includes profit in proportion to TFS’ shareholding in the JV (i.e. Rs.18 million). Travel Food Services Limited

H1FY26: Consolidated Profit and Loss Statement – Key Metrics

Particulars (Rs. million, unless stated)

Revenue from Operations

Gross Profit

Gross Margin %

EBITDA

EBITDA Margin %

Profit Before Tax (PBT)

PBT Margin %

Share of Profit/(Loss) in Associate/JV

Tax

Profit After Tax (PAT)

PAT Margin %

H1FY26 Reported

H1FY25 Adjusted C = (A) - (B)

7,309

6,112

83.6%

2,810

38.4%

2,340

32.0%

223

634

1,929

26.4%

6,946

5,619

80.9%

2,459

35.4%

1,980

28.5%

196

532

1,645

23.7%

YoY Growth

5.2%

8.8%

14.3%

18.1%

17.2%

Deconsolidation + Other Adjustment H1FY251 (B)

H1FY25 Reported (A)

2,1572

1,8752

159

152

(18)3

543

9,103

7,493

82.3%

2,618

28.8%

2,133

23.4%

178

612

1,699

18.7%

1. H1FY25 financials are adjusted and exclude the impact arising from the deconsolidation of the JV business( Semolina Kitchens), effective 14th October 2024; 2. RPT elimination of Rs.180 million has been subtracted from the H1FY25 Semolina Kitchens sales, and Rs.165 million of RPT elimination has been subtracted from the H1FY25 Semolina Kitchens gross profit; 3. Share of Profit/(Loss) in Associate/JV includes 24.99% of profit from Semolina Kitchens (as a JV) for the half year ended Sep-24 is Rs.18 million; 4. EBITDA and EBITDA margin calculation excludes other income.

Travel Food Services Limited

Operational Highlights: Q2 & H1FY26

Scaling New Heights: Strengthening Our Presence & Brand Partnerships

464 Travel QSR outlets

37 Lounges in domestic

and international markets

135 Brands Portfolio

464

135

414

119

Sep 2024

Sep 2025

Sep 2024

Sep 2025

Sep 2024

Sep 2025

Travel Food Services Limited

Q2 & H1FY26: Key Operational Highlights

Only Indian Company operating 500+ Travel QSR Outlets & Lounges

Awarded contract to operate 11 Travel QSR outlets and 1 Lounge at Cochin International Airport Domestic Terminal in Sep-25.

As of Sep-25, footprint scaled to 464 Travel QSR outlets (up from 414 as of Sep-24) and 37 Lounges (up from 33 as of Sep-24) across domestic & international airports, including Mumbai, Delhi, Hong Kong, Malaysia

Increased portfolio to 135 in-house, regional and international Brands as on Sep-25 with addition of 16 brands in last 12 months

Debut of Gordon Ramsay Street Burger outlet at Delhi’s IGIA Terminal 1: first time in India and first time at an airport

Seamless lounge access enabled through direct bank and card network integrations powered by the technology platform enabled under the wholly owned subsidiary – Elite Assist Technology & Services Pvt Ltd (EATS)

Additionally in Oct-25, contract has been awarded to operate 14 Travel QSR outlets at Terminal 2 of Indira Gandhi International Airport, New Delhi

Travel Food Services Limited

Won the Concession at Cochin International Airport, Domestic Terminal 1

Awarded five-year license (extendable by two years) to operate Travel QSR outlets and Lounge in Cochin International Airport- Domestic Terminal 1

Scope of Operations:

12 operating units

Travel QSR outlets

+ 1

Premium Lounge

8th

100%

Busiest Airport in India

Solar Powered Airport

11Mn+ (as of FY25)

Passenger Traffic

5 + 2 years

Contract Term (extendable by two years)

Presence extended to 14 of the 15 major airports across India

Travel Food Services Limited

New Travel QSR Outlets Expanding Choice Across Airports

Travel Food Services Limited has introduced new Travel QSR outlets at major airports, offering diverse cuisines & enhanced dining experiences. Below are a few key outlets opened at strategic locations, including India’s first Gordon Ramsay Restaurants’ Street Burger:

Biryani Streat at Delhi T1

Third Wave Coffee at Delhi T3

Opened India’s first Gordon Ramsay Street Burger at Delhi’s IGI Airport (T1), introducing a globally iconic brand and raising the bar for airport dining

Udan Yatri Café at Bhubaneshwar Airport

Wanchai at Delhi T1

Travel Food Services Limited

Driving growth through Extensive Menu Engineering and Continuous Product Portfolio Optimisation Strategic Levers for Enhancing Guest Experience & Driving Revenue Growth

❖ New offerings and menu enhancements refresh the dining experience, making the brand more appealing

❖ Regular upgrades, including variety and flexible options, help cater to diverse and changing preferences

❖ Attractive combo deals, along with bundled offers, drive higher spending and boost overall ticket size

❖ Improved product visibility, through marketing and technology, increases guest engagement and experience

These strategic initiatives drive positive business performance and support the company’s growth ambitions

Launched Quick Commerce at airport space with menus offering to deliver items within 5 minutes

Accelerating Growth and Customer Experience Through Menu Innovation and High-Impact Promotions

Boba Chai – Fun flavors with every pop

Cold Filter Coffee – Smooth, refreshing, premium brew

South Indian Combo Meal – Tradiational and hearty combo

Travel Food Services Limited

Differential and Engaging Cultural & Marketing Initiatives making airport travel the Best Part of the Travellers’ Journey… (1/2)

Masterclass

The masterclass series "Masterclass with Masterchef" was conducted by inviting well known chefs to present their specialty menus, offering a unique and memorable culinary experience.

Mixin’ It up Monday

The "Mixin’ it up Monday" initiative is a refreshed weekday event where brand ambassadors serve complimentary cocktails, creating a lively atmosphere and making Mondays more special for guests at TFS outlets.

Monsoon Menu – Lounge

The Monsoon Menu – Lounge campaign brings a live high-tea setup to airport Lounges, providing seasonal favorites that celebrates the experiences we associate with the monsoon.

Travel Food Services Limited

Differential and Engaging Cultural & Marketing Initiatives making airport travel the Best Part of the Travellers’ Journey….(2/2)

Durga Puja celebration

A Durga Puja celebration was organized with a focus on sustainability, featuring staff attire made from recycled materials. The event showcased thoughtful décor, curated festive cuisine, a handcrafted Durga idol, and customized traveller kits.

Navaratri Celebration

A special limited-edition festive Thali was introduced for Navaratri, carefully crafted to meet dietary preferences during the festival period.

Independence Day Celebration

An Independence Day celebration was held to honour the nation, featuring lively décor and curated experiences that showcased India’s cultural richness. Guests enjoyed festive menus and special activities designed for the occasion.

Travel Food Services Limited

Upcoming Travel QSR and Lounge Airport Operations Commencing in Second Half

Noida International Airport

Delhi IGIA, Terminal 2

Cochin International Airport

Navi Mumbai International Airport

TFS is partnering to establish world- class multi-cuisine Travel QSR outlets and Lounges at Noida International Airport.

Secured the concession to design, set up and operate 14 F&B outlets at Delhi IGIA- Terminal 2, offering diverse cuisine and quick service.

Awarded the contract to operate Travel QSR outlets and a premium Lounge at Cochin International Airport, which is the 8th biggest in India.

TFS, through its JV Semolina Kitchens, will introduce a premium portfolio of Travel QSRs and Lounges focusing on integrating state-of-the-art hospitality concepts at Navi Mumbai International Airport.

Travel Food Services Limited

Strategic Actions to Capture New Markets and Untapped Opportunities

Integrated Lounge Access Technology Platform

❖ Expanding direct partnerships with banks and card networks for seamless Lounge access, while evolving to a tech-enabled, scalable travel hospitality company

❖ Building future-ready infrastructure that merges hospitality with data intelligence

via the technology platform

Focused International Expansion

❖ Forming ventures & subsidiaries (such as in UAE & Indonesia) to explore international lounge opportunities and drive strategic global growth

❖ Exporting Lounge operational excellence to global airports and establishing

the foundations for sustained worldwide brand leadership

Travel Food Services Limited

Financial Track Record

Strong Track Record of Growth and Performance…

System-wide Sales1 (₹ Million)

Consolidated PAT2 (₹ Million)

Strong Double-digit System-wide Sales Growth

Outstanding Growth with Steady Margin

25.8%

44.9%

20,082

6,119

13,963

13,857

3,185

10,672

25,265

8,388

16,877

PAT margin

22.8%

20.4%

21.5%

18.6%

27.3%

3,797

2,513

2,981

FY 2023

FY 2024

FY 2025

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

FY 2023

FY 2024

FY 2025

Consolidated Revenue

JV/Associates

1. TFS system-wide numbers (including system-wide sales) are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. Profit after tax is Profit for the period/year

Travel Food Services Limited

…With Strong Cash Flows and Returns

Operating Cash Flows1 and Cash Balance2 (₹ Million)

Net Worth3 (₹ Million)

Return on Equity4 and Return on Capital Employed5 (%)

Healthy capital structure with positive net cash

Strong financial stability and growth potential

Sustained high return on capital

Operating Cash Flows

Cash Balance

6,269

5,542

5,148

4,600

3,221

3,529

10,485

8,691

6,511

53.9%

37.8%

46.1%

51.4%

33.6%

35.5%

FY 2023

FY 2024

FY 2025

FY 2023

FY 2024

FY 2025

FY 2023

FY 2024 ROE

ROCE

FY 2025

1. The amount of cash generated by core business operations after accounting for tax payments, reflecting operational liquidity; 2. Cash Balance includes Cash and Cash Equivalents, other Bank balances and Current Investments; 3. Net Worth is computed as Equity Share Capital plus Securities premium plus Retained earnings; 4. ROE is computed as profit for the year divided by total equity; 5. ROCE is computed as EBIT divided by Capital Employed. EBIT is computed as Profit for the year plus Tax expenses plus Finance costs. Capital Employed is computed as Total Equity plus Non-Current Liabilities - Financial Liabilities - Borrowings and plus Current Liabilities - Financial Liabilities – Borrowings.; 4. All numbers and calculations are based on consolidated financials.

Travel Food Services Limited

Indian Airport Travel QSR and Lounge Market Tailwinds

Indian airport Travel QSR and Lounge industry expected to grow at a fast pace over the next decade

Increase in # of airports

Expanding fleet size

Evolving Customer Preferences

Aug’25

138

20471

350

Indian airlines have placed c.2,400 aircraft orders; ~3x the current size

Access to quality food

Limitations on food in airplanes

Higher dwell times

Higher penetration of credit & debit cards

More airports, more aircraft, growing customer travel

04 Low penetration rates of air travel in India

Air passenger traffic per capita2

05 LCCs gaining market share

LCCs’ domestic passenger market share

India’s Aviation Market Poised for Rapid Passenger Growth

0.27

0.81

India

China

5.58

USA

66%

FY16

75%

1HFY25

Market Growth

9.3% CAGR (CY 24-29P)

Strong demand growth expected

Source: CRISIL Report; 1. As per Vision 2047; As per ACI, Airbus GMF (Global market Forecast) 2024-2043, CRISIL Report; 2. Total passengers (enplanements and deplanements) divided by total population (CY23); India passenger traffic numbers are on a financial year basis i.e. April to March. For example, CY23 corresponds to FY24 numbers;

Travel Food Services Limited

Global Airport Lounge Industry and Indian Expressway QSR Present Attractive Growth Opportunities

Global airport Lounge market growth driven by various factors

TFS is well-positioned to capitalize on Global international lounge market and expressway travel QSR verticals in long-run

Global Airport Lounge Market Size (USD Bn)

APAC¹ Dominated Global Lounge Market in CY23

11.5%+ Market Share in 2023

10% 23-34P CAGR

15-16

11-12

High entry barriers given specialized operations

5.7

6.7

Favours experienced players with strong relationships

Needs hard-to-replicate bank and card partnerships

Involves substantial upfront capital

Requires strict security and several licenses

2019

2023

2029P

2034P

Market Size (USD bn)

TFS is well-positioned for global growth, leveraging its presence across India, Malaysia, Hong Kong, and SSP’s international network

Expressway Travel QSR to Witness Strong Growth

Expressway Travel QSR Industry (INR bn)

220-240

Food service outlets

75-85

1,000 WSAS Planned by NHAI

Fuel station

Clinics

Electric charging facilities

Govt Upgrading National Highways

Bharatmala Enhancing Road Connectivity

Leisure Road Travel on the Rise

Source: CRISIL Report; 1.Excludes China

Travel Food Services Limited

FY19

FY24

FY29P Market Size (INR bn)

FY34P

Organized Travel QSR players such as TFS bring multi-brand expertise & operational excellence to Travel QSRs

Key Priorities and Building for the Future

Driving Technology Advancement

❖ Delivering technology-enabled

solutions and services

❖ Building a scalable travel hospitality platform

Expanding Global Lounge Reach

❖ Pursue APAC and Middle

East markets for international Lounge growth opportunities

Expanding Core business

❖ Optimize product

offerings and service to grow LFL sales

❖ Grow new space in

existing markets and build strategic presence in new markets

Expressway QSR Growth Drive

❖ Scale Travel QSRs

on expressways for future growth

Strengthening Our Core for Long- Term Success

Debt-Free with strong cash reserves to build on new opportunities

Unlocking New Horizons

Travel Food Services Limited

Company Overview

Travel QSR: Extensive Portfolio of 135 Brands Across Cuisines and Formats

Diversified range of in-house and partner brands catering to specific customer requirements

Our powerhouse brand portfolio - in-house and partner brands2

s d n a r B e s u o h - n

s d n a r B r e n t r a P

45.4%1

54.6%1

In-house Brands (Owned)2

# of Brands: 42

International Brands (Franchised)2

# of Brands: 34

Regional Brands (Franchised)2

# of Brands: 59

# of Travel QSR outlets3

442

464

369

281

194

Mar-22 Mar-23 Mar-24 Mar-25

Sep-25

Brand attractiveness leads to master/multi-concession agreements

Aims to achieve a healthy mix of in-house and partner brands

Works closely with brand partners to adapt offerings to travel environment

1. % of FY25 Revenue from contracts with customers from Travel QSRs; 2. List of brands as on Sep 30, 2025; 3. Including outlets in India and Malaysia airports and India highways; 3. All numbers are on a system-wide basis.

Travel Food Services Limited

Lounges: Largest Lounge Network in India with Differentiated Value-add

Rapidly growing diverse Lounge concepts

TFS’ unique business model

# of lounges (globally)

Airlines

Pay per use

Mar-22

Mar-23

Mar-24

Mar-25

Sep-25

India

Malaysia & HK

Credit Card issuers

Loyalty programmes

Financial Institutions & Banks

Lounge aggregators

Corporate tie ups

Upselling (Spa/retail etc.)

Owned

Future strategy

Premiumization

Sustainability

Operated

Hybrid space

Backward integration

Travel Club Lounge, Malaysia Airport

080 Lounge, Bengaluru International Airport

✓ Local and international cuisine

✓ Spa facilities

✓ Serene and comfortable spaces

designed for travellers

✓ Tech-enabled seamless journey

✓ Cinemas, libraries & work pods

✓ Curated cocktails and F&B events

1. All numbers are on a system-wide basis. Travel Food Services Limited

Digital access

Differentiation

Data analytics

Extensive and exclusive range of services for our customers

Our Journey from 1 Airport to 18 airports in India and Internationally1

Strengthened footprint from a Single Concept to a Regional Leader

Launched a Lounge at Mumbai Airport

Won bids for F&B at Chennai and Kolkata airports

SSP Group, one of the leading Travel F&B operators globally2, purchased stake in TFS

Won bids for F&B, Lounges and transit hotels at Bengaluru Airport

Launched 1st Travel QSR Outlet at Mumbai Airport

Entered New Delhi airport

2009

Our journeyin#ofairports

FY25

Expanded internationally into Malaysia

Expanded into Hong Kong with opening of Lounge

FY24

FY23

Started operations at Goa Mopa and Hyderabad airports

Won bids for F&B and Lounges at Noida Airport

2009

2010-15

2016-18

2019-21

2021-25

1. Present in 14 airports in India and 4 internationally as on Sep 30, 2025; 2. One of the leading Travel F&B operators globally per CRISIL Report in 2025; 3. All numbers are on a system-wide basis.

Travel Food Services Limited

Our Proven Business Model Built for Sustainable Growth

Our economic model

Growth drivers

Financial Output

LEADSTO

New Business Development

S E T A T I L I C A F

Competitiveness of Tenders

DRIVES

Brand and Lounge Partnerships

STRENGTHENS

Contract Wins

O T S D A E L

Scale Driven Synergies

INCREASES

Operational Leverage

How we drive revenue

How we manage costs

₹

 Sale of F&B products

 Increasing penetration

 Contracts with Lounge

Partners

 Procurement cost

 Labor scheduling optimization

 Rent and overheads

Growth pillars

Net Contract Gains

Existing market

LFL Sales

Passenger Growth

Inflation

Operational Efficiency

REVENUE GROWTH

PROFIT GROWTH

New market

MARGIN OPTIMISATION

Travel Food Services Limited

Present in 13/15 Largest Airports in India1 with ~94% Contract Retention Rate2

Present in 13 of 15 India’s largest airports, serving 74%3 of India’s total air passenger traffic

Secured via long-term contracts/partnerships with airport operators

TFS

Existing Presence

Under Execution (contracts won)

Jaipur

Delhi Noida

Lucknow

Guwahati

Kolkata

Bhubaneshwar

Navi Mumbai

Hyderabad

Hong Kong

Ahmedabad

Mumbai

Goa Mopa

Goa Dabolim

Bengaluru

Cochin

Thiruvananthapuram

Chennai

Kuala Lumpur

Kota Kinabalu

Kuching

Strategic Partnership (JV / Associates)

India long-term concessions

✓ Delhi ✓ Bengaluru ✓ Chennai ✓ Kolkata ✓ Bhubaneshwar ✓ Goa Dabolim ✓ Noida6 ✓ Cochin6

24.99%

30.00%

Semolina Kitchens Limited

GHL5

✓ Goa Mopa ✓ Hyderabad

✓ Mumbai4 ✓ Ahmedabad ✓ Jaipur ✓ Lucknow ✓ Guwahati ✓ Thiruvananthapuram ✓ Navi Mumbai6

International Partnerships

✓ SSP Malaysia Sdn Bhd

(49.9% holding)

✓ SSP TFS HK Lounge Ltd.

(49.0% holding)

8.81 years Average Concession Duration

93.9% Contract Retention Rate

1. By passenger traffic (FY25) as per CRISIL Report; 2. Number of airport concession agreements which expired and were either renewed or won back as a percentage of the total number of airport concession agreements which expired; 3. FY25 data as per CRISIL Report; 4. Included under the new structure starting with FY26; 5. GHL - GMR Hospitality Limited ; 6. Under execution projects

Travel Food Services Limited

Our Partnership with Promoters Unlocks Strategic Benefits

SSP is one of the leading Travel F&B operators globally in 20241

K Hospitality is an Indian F&B player with…

3,000+ F&B outlets and Lounge 1

600+ Locations2

38 Countries1

SSP Global Presence

Several Strategic Benefits

~550 Proprietary and third-party brand/bespoke concepts2

50+ years Of experience in the Indian F&B industry

Operates, owns or invests In hospitality and food services companies3

Operational know-how and understanding of Indian consumers

Present in 35 cities in India and abroad with a portfolio of 47 proprietary brands4

International standard practices

Global reach and reputation with global brands

Understanding of Indian consumers

Culinary and operational know-how

Long-standing relationships with international airports

Oversight to enhance capital efficiency

Aids in bidding for airport concessions

Recruiting regional Indian brands

Notes: The map is for illustrative purposes only and is not an exact representation of geographical boundaries or locations; 1. As per CRISIL Report as of March 31, 2025; 2. As per CRISIL Report as of May 31, 2025; 3. Operating in QSRs, restaurants, bars, cafés, food courts, banqueting outdoor catering and corporate food services; 4. As of Mar 31, 2025

Travel Food Services Limited

Why We Win: Partner of Choice with Strong Competitive Moats

Leading player in the Travel QSR and Lounge sector in airports

Deep understanding of traveller preferences and portfolio of wide range of F&B concepts to cater to customer needs

Long relationship with airport operators, airlines, Lounge partners and F&B brand owners

Source: CRISIL Report

Travel Food Services Limited

Expertise in handling distinct challenges in an operationally complex and highly secure airport environment

Financial performance and high standards of governance

Multi-unit operations at airports

Using a wide range of brands and concepts to satisfy customer demands

Proven track record of operational expertise and financial performance

Led by experienced management and promoters

Partner of choice for airport operators

Why We Win: Deep Understanding of Traveller Preferences

Air travel can be stressful with varied Traveller Needs

Limited Time

Comfort-focused

Wide Price Range

Diverse F&B Formats

Juggling On-the-move

Arrival @ Airport

Enter Airport

Check-in

Security

Boarding / Departure

Arrival / Immigration / Baggage

TFS offers a one-stop F&B platform addressing all customer expectations through a structured approach

Rapid customer service

Wide range of F&B formats

Price points for every budget

Spa, wellness & entertainment

Airport Ancillary Services

Maximize seating and rest zones

Food@Gate delivery

Travel QSR

Lounges

Wi-Fi enabled work pods

✓

IT Infrastructure

✓

Central Kitchens

Core Enablers ✓

Custom Offering

✓

Personalized Services

Travel Food Services Limited

Select Awards and Accolades

Tremendous recognition with 8 honours at the 2025 FAB Awards, including Airport Lounge opening of the Year for 080 Lounge, Sustainability Initiative for ‘Chefs for Good’ and Casual Dining Restaurant for Irish House.

2024 – Winner of Best Airport Restaurant - Idli.com

The Global Lounge at Kuala Lumpur International, operated by TFS–SSP JV, was honoured by Etihad Airways in Q1 2025 for exceptional guest experiences.

WORLD’S LEADING AIRPORT LOUNGE FIRST CLASS (2015-2024)

ASIA’S LEADING DOMESTIC AIRPORT LOUNGE (2021-2024)

2025 – Travel Food Services Limited has been certified as ‘Great Place To Work®’ from Feb 2025 to Feb 2026

Travel Food Services Limited

Thank You

Contact Details: Name: Chhavi Agarwal, CFA Designation: Vice President- Investor Relations Email: investor.relations@travelfoodservices.com

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