DRREDDY

Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills Hyderabad – 500 034, Telangana, India CIN: L85195TG1984PLC004507 Tel: + 91 40 4900 2900 Fax: + 91 40 4900 2999 Email: mail@drreddys.com Web: www.drreddys.com July 22, 2026 National Stock Exchange of India Ltd. (Scrip Code: DRREDDY) BSE Limited. (Scrip Code: 500124) New York Stock Exchange Inc. (Stock Code: RDY) NSE IFSC Ltd. (Stock Code: DRREDDY) Dear Sir/Madam, Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Q1 FY27 Unaudited Financial Results Presentation Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the presentation on the Unaudited Financial Results of the Company for the quarter ended June 30, 2026. This is for your information and records. Thanking you. Yours faithfully, For Dr. Reddy’s Laboratories Limited K Randhir Singh Company Secretary, Compliance Officer & Head-CSR Encl: as above Dr. Reddy’s Q1FY27 RESULTS UPDATE 22 JULY 2026 1 | September 2025 | Investor Presentation | As per consolidated financial statements under IFRS Safe Harbor Statement This presentation contains forward-looking statements and information that involve risks, uncertainties and assumptions. Forward-looking statements are all statements that concern plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical fact, including, but not limited to, those that are identified by the use of words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “predicts”, “projects” and similar expressions. Risks and uncertainties that could affect us include, without limitation: ▪ General economic and business conditions in India and other key global markets in which we operate; ▪ The ability to successfully implement our strategy, our research and development efforts, growth & expansion plans and technological changes; ▪ Changes in the value of the Rupee and other currency changes; ▪ Changes in the Indian and international interest rates; ▪ Allocations of funds by the Governments in our key global markets; ▪ Changes in laws and regulations that apply to our customers, suppliers, and the pharmaceutical industry; ▪ Increasing competition in and the conditions of our customers, suppliers and the pharmaceutical industry; and ▪ Changes in political conditions in India and in our key global markets. Should one or more of such risks and uncertainties materialize, or should any underlying assumption prove incorrect, actual outcomes may vary materially from those indicated in the applicable forward-looking statements. For more detailed information on the risks and uncertainties associated with the Company’s business activities, please see the company’s annual report filed in Form 20-F with the US SEC for the fiscal year ended March 31, 2026, and our other filings with US SEC. Any forward-looking statement or information contained in this presentation speaks only as of the date of the statement. We are not required to update any such statement or information to either reflect events or circumstances that occur after the date the statement or information is made or to account for unanticipated events. 2 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Financial Highlights Healthy double-digit base business^ growth; EBITDA Margin @15.4% before semaglutide related impact Reported Revenues FINANCIALS EXCLUDING 8,071 ₹ Cr SEMAGLUTIDE API RELATED IMPACT 6% YoY 7% QoQ 8,087 49.4% 15.4% 9.8% Financials excluding semaglutide Impact EBITDA | EBITDA % SemaglutideAPI related impact 1,009 ₹ Cr | 12.5% 4,814 2,351 1,835 As reported 8,727 23.8% 17.7% 56% YoY 3% QoQ 8,071 46.5% 12.5% 6.8% 54.7% 26.7% 20.8% Revenues Gross Margin EBITDA PBT PBT | PBT % 553 ^Excluding Lenalidomide ₹ Cr | 6.8% • Semaglutide API related impact of ₹ 240 Cr, including inventory provision and other associated costs. 71% YoY 178% QoQ • EBITDA margin further impacted by higher solvent and freight cost arising from Middle East conflict *PAT | PAT % • Reported RoCE @5.3%. Excluding semaglutide API impact, RoCE @8%. 443 ₹ Cr | 5.5% • Net Cash surplus at ₹3,058 Cr. 69% YoY 101% QoQ *Attributable to Equity shareholders 3 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Business Highlights Continued progress across strategic priorities • First-to-market launch in the US of anti-cancer drug, bosutinib 400mg, with a 180-day exclusivity. • Dr. Reddy’s becomes 1st company to launch generic semaglutide injection for Type 2 Diabetes in Canada • Launched generic semaglutide tablets in India. • Launched nutrition offerings, Celevida GLP+, through our collaboration with Nestlé. • Toripalimab, novel in-licensed oncology drug, entered ₹100 crore club in <2 years of launch in India. • Partnered with Innoviva Specialty Therapeutics to develop and commercialise, XACDURO®, a critical-care antibiotic, across select emerging markets. • Fast Track Designation granted by USFDA for partnered product, COYA 302, for ALS treatment. • Filed Marketing Authorisation Application for abatacept IV presentation with European Medicines Agency for Europe. 4 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Other Highlights ESG • Celebrated 25 years of NYSE listing, as the 1st and only Indian pharmaceutical company listed on the exchange. • Placed in the top 1% globally by FTSE Russell. • Ranked 165th globally among TIME–Statista World’s Most Sustainable Companies, 5th among Indian companies. OTHER UPDATES • Received a Form 483 with 7 observations, following a PLI at biologics facility, Bachupally in Jun ’26, responded within the timeline. • Certain batches of semaglutide were found to be out of specification due to an issue associated with the API. 5 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Revenue Split Double-digit base business growth across all geographies, aided by forex, offset by lower lenalidomide sales REVENUE BY SEGMENT GLOBAL GENERICS SPLIT North America Europe 2,205 1,444 ₹ Cr ₹ Cr GLOBAL GENERICS 89% 35%YoY 26%QoQ 13%YoY 0.6%QoQ Overall 18% 8,071 27% ₹ Cr 6% 7% PSAI YoY QoQ 11% 21% India OTHERS 1,718 0% ₹ Cr Global Generics PSAI 17%YoY 10%QoQ 7,199 852 ₹ Cr ₹ Cr 5%YoY 9%QoQ 4%YoY 7%QoQ Emerging Markets 23% 1,833 ₹ Cr Branded businesses (India, Emerging Markets & NRT) account for 52% of revenues 31%YoY 2%QoQ 6 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Key Financial Metrics Sustaining growth & profitability, while investing for the future REVENUES GROSS MARGINS SG&A R&D EBITDA MARGINS (₹ Cr) (% of Revenues) (% of Revenues) (% of Revenues) (% of Revenues) Q1FY27 8,071 *Q1FY27 46.5% Q1FY27 35.7% Q1FY27 7.1% *Q1FY27 12.5% *Q4FY26 7,516 ^Q4FY26 44.8% *Q4FY26 36.9% *Q4FY26 7.3% ^Q4FY26 13.0% Q3FY26 8,727 Q3FY26 53.6% Q3FY26 30.8% Q3FY26 7.0% #Q3FY26 23.5% Q2FY26 8,805 Q2FY26 54.7% Q2FY26 30.0% Q2FY26 7.0% Q2FY26 26.7% Q1FY26 8,545 Q1FY26 56.9% Q1FY26 30.0% Q1FY26 7.3% Q1FY26 26.7% *49.4% excl. semaAPI related impact *15.4% excl. semaAPI related impact *Excl. lenalidomide shelf stock adjustment (SSA), ^48% excl. SSA *Excl. VAT liability, 33.4% of revenues excl. SSA *Excl. CAR-T charge, 6.8% of revenues excl. SSA ^19.5%, excl. SSA, CAR-T charge, VAT liability Q4 revenues ₹7,969Cr #24.8%, excl. provision related to new Labour Codes in India DILUTED EPS CASH FLOW NET DEBT / EQUITY RoCE (Annualized) CAPEX (₹ ) (₹ Cr) (%) (₹ Cr) Q1FY27 5.3 *Q1FY27 5.3% Q1FY27 307 *Q1FY27 -216 -0.08 ^Q1FY27 -0.09 Q4FY26 Q4FY26 2.6 ^Q4FY26 15.8% Q4FY26 438 *Q4FY26 600 -0.08 Q3FY26 Q3FY26 14.5 Q3FY26 20.4% Q3FY26 669 Q3FY26 374 Q2FY26 17.3 Q2FY26 21.9% Q2FY26 511 *Q2FY26 1,046 -0.08 Q2FY26 Q1FY26 451 -0.08 Q1FY26 Q1FY26 17.0 Q1FY26 22.0% Q1FY26 683 ^Net Surplus (Adjusted for non-current cash & *8% excl. semaAPI related impact *Before acquisition related payouts borrowings) stood at ₹ 3,058Cr as on 30 Jun ‘26 ^17.5%, excl. SSA, Impairment of CAR-T & EftilagimodAlfa, VAT liability 7 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 North America Performance Double digit growth in base business, impacted by lower lenalidomide sales KEY UPDATES MARKET PERFORMANCE 27% 10.3% 2.1% VS • Double digit base business growth in Q1FY27, aided DRL Growth vs US Generics Market (Excl. Lenalidomide) by new product launches and volumes. *As per IQVIA MAT Jun’ 26 NEW LAUNCHES • First company to secure approval and launch generic Revenues 6 2,205 semaglutide injection for Type 2 Diabetes in Canada. ₹ Cr Q1FY27 NEW ANDA | NDA FILINGS 35%YoY 26%QoQ • First-to-market launch of anti-cancer drug, bosutinib 5 | 1 400mg, with a 180-day generic drug exclusivity. Declined YoY due to lower lenalidomide sales. Q1FY27 Excluding shelf stock adjustment in Q4FY26, declined 5% QoQ PRICE EROSION • Launched nintedanib, a complex generic drug used in the Historical Revenues (₹ Cr) MODERATE treatment of lung diseases Q1FY27 2,205 PENDING APPROVAL *Q4FY26 1,756 76 3 Q3FY26 2,964 Q2FY26 3,241 ANDAs NDAs Includes 46 Para IVs & 24 FTFs Q1FY26 3,412 As of Jun’26 *Includes impact of lenalidomide SSA of ₹453Cr 8 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Emerging Markets Performance Growth driven by new product launches across countries, supported by favourable forex KEY UPDATES 23% COUNTRIES PRESENT IN • Secured approval in South Africa for toripalimab, 48 after a successful launch in India and Australia NEW PRODUCT LAUNCHES • Partnered with Innoviva Specialty Therapeutics to Revenues 43 1,833 develop & commercialise, XACDURO®, a critical-care ₹ Cr Q1FY27 antibiotic, across South & Central America, the 31%YoY 2%QoQ Caribbean, Russia and CIS countries. NEW FILINGS YoY Growth Drivers : New product launches in REVENUE SPLIT RoW and favourableforex, partially offset by 25 price erosion in CISR & RoW. Russia ₹ 903 Cr Q1FY27 RoW CISR 39% 28%YoY 8% QoQ Historical Revenues (₹ Cr) 12% RUSSIA Q1FY27 1,833 MARKET PERFORMANCE* CISR ₹ 219 Cr Q4FY26 1,806 10.9% 15.2% 12%YoY 6% QoQ Q3FY26 1,896 VS DRL Growth vs Russian Market Q2FY26 1,655 *As per IQVIA MQT May’ 26 Russia RoW ₹ 710 Cr Q1FY26 1,404 49% 42%YoY 3% QoQ 9 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 India Performance Consistent double-digit growth and IPM outperformance MARKET PERFORMANCE* KEY UPDATES 21% 14.6% 13.5% VS • Launched generic semaglutide tablets in India. *DRL MQT Growth vs IPM (Jun’26) IPM RANK • Launched nutrition offerings, Celevida GLP+, through our collaboration #9 #10 with Nestlé. Revenues FTM & MQT MAT Jun’26 Jun’26 1,718 ₹ Cr • Toripalimab, novel in-licensed oncology drug, entered ₹100 crore club THERAPY LEADERHIP* 17%YoY 10%QoQ in less than 2 years of launch. #1 #2 Growth Drivers : New brand launches including STOMATOLOGICALS VACCINES innovative assets & acquired portfolios, price increases and higher volumes. NEW BRAND LAUNCHES Historical Revenues (₹ Cr) 7 Q1FY27 Q1FY27 1,718 Q4FY26 1,566 ₹100 CR+* BRANDS IN Q3FY26 1,603 BRANDS IPM TOP 300* Q2FY26 1,578 25 15 Q1FY26 1,471 *As per IQVIA MAT Jun’ 26 10 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 Europe Performance Generics launches and forex tailwinds, offset by pricing pressure and NRT operating model changes KEY UPDATES 18% EU COUNTRIES • NRT revenues declined due to change in operating model post integration, PRESENT IN 21 where rebates & discounts to distributors offered, versus sales managed by seller, Haleon, during transition. This operating model change is profit neutral. Revenues 1,444 REVENUE SPLIT ₹ Cr NEW GX PRODUCT LAUNCHES 13%YoY 0.6%QoQ NRT ₹ 656 Cr 24 2%YoY 6% QoQ Growth Drivers : New product launches, Q1FY27 France, favourableforex, offset by price erosion and Italy & NRT change in gross-to-net following NRT integration Others 46% Germany ₹ 407 Cr 10% 29%YoY 6% QoQ Historical Revenues (₹ Cr) NEW FILINGS 1 UK UK ₹ 231 Cr Q1FY27 1,444 16% Q1FY27 Q4FY26 1,452 33%YoY 1% QoQ Germany Q3FY26 1,448 28% Others ₹ 149 Cr Q2FY26 1,376 Q1FY26 1,274 29%YoY 4% QoQ 11 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Q1FY27 PSAI Performance Margin impacted by semaglutide API related impact KEY UPDATES 11% GROSS MARGIN • PSAI revenues grew YoY growth due to momentum in CDMO business and favourable forex, offset by lower API volume uptake. 4.5% 13.2% VS Q1FY27 vs Q1FY26 • Excluding the semaglutide API related impact, PSAI gross margins at Revenues 852 12.9% (vs. reported 4.5%). ₹ Cr DMF FILINGS 4%YoY 7%QoQ 38 Q1FY27 Historical Revenues (₹ Cr) US DMF FILINGS NIL Q1FY27 852 Q1FY27 Q4FY26 912 Q3FY26 802 Q2FY26 945 Q1FY26 818 12 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS In Summary A diversified business model with broad based levers Strengthen Core Businesses, build future growth drivers (Peptides, Biosimilars, Consumer Health, Innovative Assets) Advance key products (Semaglutide including resumption of supplies, Abatacept) Drive efficiencies through better operational leverage Augment organic growth with M&A and In-Licensing Enhance capabilities – People, Digital, Processes Focus on quality, compliance and sustainability 13 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS About Key Metrics and Non-GAAP Financial Measures This press presentation contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non- GAAP financial measures are measures of our historical performance, financial position or cash flows that are adjusted to exclude or include amounts, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS. Our non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. These measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business. For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please refer to "Reconciliation of GAAP to Non-GAAP Results" table in the press release. 14 | 22 July 2026 | Q1FY27 Results Update | As per consolidated financial statements under IFRS Good Health Can’t Wait. 15 | September 2025 | Investor Presentation | As per consolidated financial statements under IFRS