Global Surfaces Limited

91%

,500 SMT p.a Combined production capacity * All figures reported as on FY25 550+ Total workforce 91%+ Exports 0.50X Debt to Equity 2 COMPANY OVERVIEW Company Overview • Global Surfaces Limited (

0.50X

ombined production capacity * All figures reported as on FY25 550+ Total workforce 91%+ Exports 0.50X Debt to Equity 2 COMPANY OVERVIEW Company Overview • Global Surfaces Limited (GSL), establishe

20%

other similar stones in the US markets. Operational Revenue (INR Mn) & EBITDA Margins (%) 1,781 20% 2,253 2,076 16% 1,286 1% 3% FY23 FY24 FY25 H1-FY26 Revenue EBITDA H1-FY26 Segmental R

16%

s in the US markets. Operational Revenue (INR Mn) & EBITDA Margins (%) 1,781 20% 2,253 2,076 16% 1,286 1% 3% FY23 FY24 FY25 H1-FY26 Revenue EBITDA H1-FY26 Segmental Revenue Break-up 6

1%

arkets. Operational Revenue (INR Mn) & EBITDA Margins (%) 1,781 20% 2,253 2,076 16% 1,286 1% 3% FY23 FY24 FY25 H1-FY26 Revenue EBITDA H1-FY26 Segmental Revenue Break-up 6% 94% Natu

3%

ts. Operational Revenue (INR Mn) & EBITDA Margins (%) 1,781 20% 2,253 2,076 16% 1,286 1% 3% FY23 FY24 FY25 H1-FY26 Revenue EBITDA H1-FY26 Segmental Revenue Break-up 6% 94% Natural

6%

% 1,286 1% 3% FY23 FY24 FY25 H1-FY26 Revenue EBITDA H1-FY26 Segmental Revenue Break-up 6% 94% Natural Stones Engineered Stones 4 Journey Entered the global market and received reco

94%

,286 1% 3% FY23 FY24 FY25 H1-FY26 Revenue EBITDA H1-FY26 Segmental Revenue Break-up 6% 94% Natural Stones Engineered Stones 4 Journey Entered the global market and received recogniti

500 Million

Petra, Bianco and Ange Black Beauty. Incorporation of Company • Crossed annual turnover of 500 Million. • Recognised and awarded as Fastest Growing Industrial Excellence for the year 2015-16 by Ind

INR 1,550

xcellence Award for Industrial Development by IEDRA. • Asia Pacific Enterprise Awards Raised INR 1,550 Mn through IPO 1991 2004 2005 2007 2011 2015 2016 2017 2018 2019 2020 2021 2023 2024

₹1,000 Million

t Bagru (Jaipur) was acquired by our Company through DRT auction. Crossed annual turnover of ₹1,000 Million. • Laid down the foundation stone of Unit Il located at Mahindra SEZ (Jaipur) for undertaking b

rs,

Business Management from the University of Pune. He is a Fellow Member of the Institution of Valuers, a Member of the Institution of Engineers, and a Registered Valuer under the Insolvency and Bankrupt

“• Strengthens supply chain resilience through dual-shore manufacturing • Serves high-end project demand across the Middle East • Operates within a Free Trade Zone, benefiting from • Superior Surfaces Inc.”

“Looking forward, it is expected that the market to reach USD 35.5 Billion by 2029, exhibiting a CAGR of 4.8% during 2025-2029.”

“It is projected to grow at a CAGR of 7-8% between 2022 and 2027, reaching USD 7.3 billion by 2032.”

“Countertops being great opportunity for the engineering stones market it is projected to grow by 6.7% CAGR from USD 148.34 Billion in 2023 to reach USD 218.9 Billion by 2032.”

“Going forward, the market is expected to reach USD 54.9 Billion by 2033, exhibiting CAGR of 3.5% during 2025- 2033.”

“The natural stone segment of North America is valued at an estimated USD 7.8 billion in 2022 and expected to grow at a CAGR of 5-6% between 2022 and 2027.”

“Granite market is expected to grow at a CAGR of 6-7% to reach USD 20,661 million in 2027 from USD 14,664 in 2022.”

Surfaces FZE

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Technology

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Innovation

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Advantages

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Solar Energy Adoption

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Development

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Reduction

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Growth Drivers

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Valorem Advisors Disclaimer

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Surfaces FZE

• Strengthens supply chain resilience through dual-shore manufacturing • Serves high-end project demand across the Middle East • Operates within a Free Trade Zone, benefiting from • Superior Surfaces Inc. (SSI) was incorporated on May 5, 2023, in the State of Texas, USA, as a strategic joint venture. • Global Surfaces Limited holds a 50% equity stake and maintains board-level and key policy control, classifying SSI as a subsidiary within the Group structure. • SSI focuses on the distribution of artificial stones, primarily engineered quartz surfaces, across the U.S. market. • Formed in partnership with a local venture partner, the entity aims to strengthen Global Surfaces’ on-ground distribution network, enhance market responsiveness, and improve customer service across key U.S. regions. Through SSI, Global Surfaces expands its strategic footprint in North America by: • Establishing a dedicated distribution channel for tax exemptions and export duty waivers artificial stones • Utilizes

Advantages

• Utilizes patented Non-Push-Up Vein Technology and Push- Up Vein Technology • Employs proprietary RIFT VEINTM TECHNOLOGY and CONVERGENCETM TECHNOLOGY • Enables the manufacturing of quartz-based slabs that emulate the natural, random appearance of veins and color patterns found in natural stones like marble and granite. • Overcomes quartz's uniform appearance, allowing for singular or multiple color patterns and intricate veining • Replicates the random and intricate vein patterns of natural stone through a method analogous to geological rifting. • Involves creating patterns that emulate natural splitting or fracturing, resulting in uniquely beautiful and realistic stone appearances. • Over 20 utility patents secured in the past 7 years, demonstrating technological leadership. • Proprietary methods allow for creating the most natural, thin veining in the industry. • Use of premium raw material Cristobalite to produce the brightest white quartz surfaces with a translucent effects . 18 N

Solar Energy Adoption

In 2020, as part of its Go- Green Initiative, the company installed solar panels at both manufacturing units, generating approximately 6 GWh of solar power for captive use. Water Conservation: The company has implemented an advanced water treatment system that recycles 80% of water, supporting the UAE’s Net Zero 2050 targets and broader sustainability goals. The system recycles 4,000 liters of water per minute through a waste treatment plant for reuse. Additionally, the company’s facilities are designed to collect and reuse rainwater, further enhancing water conservation efforts. Sustainable Product

Development

The company is committed to creating eco-friendly products by using renewable energy and recycled materials in its manufacturing processes. Recycling and Waste

Reduction

Global Surfaces focuses on recycling materials and reducing waste during production to minimize environmental impact. These initiatives reflect Global Surfaces Ltd commitment to environmental sustainability and responsible manufacturing practices. 23 INDUSTRY OVERVIEW Engineered Stones • • • The global engineered stone market size reached USD 27.6 Billion in 2024. Looking forward, it is expected that the market to reach USD 35.5 Billion by 2029, exhibiting a CAGR of 4.8% during 2025-2029. The engineered stone market in India has been experiencing significant growth, with an estimated value of USD 3.6 billion in 2022. It is projected to grow at a CAGR of 7-8% between 2022 and 2027, reaching USD 7.3 billion by 2032. Countertops being great opportunity for the engineering stones market it is projected to grow by 6.7% CAGR from USD 148.34 Billion in 2023 to reach USD 218.9 Billion by 2032. Growth Drivers Global Market Size (USD Billion) 35.5 24.6 • • • Increasing demand for durable and aes

Growth Drivers

• Global growth in construction is driving demand for natural stones. • Growing interest in customized and visually appealing natural stone products. • Increasing disposable incomes are contributing to market expansion. Source: IMARC Global Market Size (USD Billion) 54.9 40.4 2024 2033 26 FINANCIAL OVERVIEW Historical Consolidated Income Statement Particulars (INR Mn) Revenue from Operations Total Expenses EBIDTA EBIDTA Margins (%) Depreciation and amortisation expenses Finance costs Other Income PBT Tax PAT PAT Margins (%) Other Comprehensive Income TotaI Comprehensive Income Diluted EPS (INR) FY23 1,781 1,426 355 FY24 2,253 1,903 350 19.93% 15.53% 94 36 28 253 11 242 89 45 37 253 55 198 FY25 2,076 2,056 20 0.96% 187 154 72 (249) 40 (289) H1-FY26 1,286 1,243 43 3.34% 91 73 94 (27) 24 (51) 13.59% 8.79% (13.92)% (3.97)% 15 257 7.10 6 204 4.41 4 (285) (6.73) (5) (56) (1.20) 28 Historical Consolidated Balance Sheet Particulars (INR Mn) FY24 FY25 H1-FY26 Particulars (INR Mn) FY24 FY25 H1-F