MAHLOG

mahindra ‘› Mahindra Logistics Limited Arena Space, 10th & 11th Floor, LOGISTICS V Plot No. 20, Jogeshwari Vikhroli Link Road, Near Majas Bus Depot, Jogeshwari (East), Mumbai – 400060, Maharashtra. Tel: +91 22 6836 7900 Email: enquiries@mahindralogistics.com www.mahindralogistics.com CIN: L63000MH2007PLC173466 Ref: MLLSEC/67/2026 20 July 2026 To, BSE Limited, National Stock Exchange of India Ltd., (Security Code: 540768) (Symbol: MAHLOG) Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, Fort, “G” Block, Bandra-Kurla Complex, Mumbai - 400 001 Bandra (East), Mumbai – 400 051 Dear Sirs, Sub: Earnings Presentation for the first quarter ended 30 June 2026 - Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 (“SEBI Listing Regulations”) Ref: Intimation of earnings conference call vide letter dated 10 July 2026 Further to our letter dated 10 July 2026 giving advance intimation of the earnings conference call for the first quarter 30 June 2026 (“Mahindra Logistics Limited Q1FY27 Earnings Conference Call”), please find enclosed herewith the Earnings Presentation for the said Earnings Conference Call, inter-alia, encompassing an overview of the Company, its operations and the unaudited Standalone and Consolidated Financial Results for the first quarter ended 30 June 2026, subjected to Limited Review. This intimation and the earnings presentation are also being uploaded on the website of the Company and can be accessed at the weblink: https://mahindralogistics.com/investor-interaction/. For Mahindra Logistics Limited Jignesh Parikh Company Secretary Enclosures: As above Reg Office: Mahindra Towers, P.K. Kurne Chowk, Igniting Success Worli, Mumbai - 400018 Igniting Success e VP - 7 • '.: ;"'. V.. r • n4 A Ler •• • Locts-rics )t= 01310f 00,NOr .r• eDeL JeL ri= •(:11 • .,= Q1 FY27 Investor Presentation Business & Earnings Update mahindra LOGISTICS V July 2026 Igniting Success Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Mahindra Logistics Limited (the “Company”), have been preparedsolelyforinformationpurposesanddonotconstituteanyoffer,recommendationorinvitation topurchaseorsubscribeforanysecurities,andshallnot formthebasisorbereliedoninconnectionwithanycontract orbindingcommitmentwhatsoever.NoofferingofsecuritiesoftheCompanywillbemadeexcept bymeansofastatutoryofferingdocumentcontainingdetailedinformationabouttheCompany. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation orwarranty, expressorimplied, whatsoever, and norelianceshallbeplacedon, thetruth, accuracy, completeness, fairness andreasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liabilityinrespectofthecontentsof,oranyomissionfrom,thisPresentationisexpresslyexcluded. CertainmattersdiscussedinthisPresentationmaycontainstatementsregardingtheCompany’smarketopportunityandbusinessprospectsthatareindividually andcollectivelyforward-lookingstatements.Suchforward-lookingstatementsarenotguaranteesoffutureperformanceandaresubjecttoknownandunknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the logistics industry in India and world-wide, competition, the company’s abilitytosuccessfullyimplementitsstrategy,theCompany’sfuturelevelsofgrowthandexpansion,technologicalimplementation,changesandadvancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. mahindra LOGISTICS V Igniting Success 0 Business Update mahindra LOGISTICS Igniting Success Our Business Segments • ' T. eoeL0 :; • - „ - N ilreOF A 0., • I 5 I , R17,0: !Int! • itt doth. • A. t_1171 , alt Contract Last Mile Freight Express Mobility Logistics Delivery Forwarding  Integrated w/h & distribution  FTL & Multimodal transport Tech-first, PAN India B2B Express Intra-city fulfilment & distribution Ocean, air freight, air cargo charter Mobility solutions for enterprises,  In-Factory Logistics & PTL Network network for last Mile delivery solutions with customs clearance & B2C customers  Milk-run  JIT & JIS ~19 Mn Sq. ft 7,000+ 25,000+ 19,000+ 50+ Warehousing Space (4+ Mn Sq Ft Fleet Deployed People experience our service Pin codes (Direct + ODA) Global Trade Lanes Sustainable Warehousing) (1200+ EVs) daily Key Trade Lanes ~100 220+ 4,000+ 5,000+ USA, Europe, Middle East, South- Customers Processing Centers Pin Codes Served Vehicles deployed Daily East Asia ~600 1,100+ Trucks 1 Cr+ 10,000+ TEUs 100+ Operating Locations Line Haul & Mid Mile Packages Delivered per month Ocean Freight per annum Operating locations PAN India With integrated logistics solutions tailored for diverse industries across various business segments, we provide end-to- end visibility and service excellence, ensuring logistics operations are efficient and optimized. mahindra 4 LOGISTICS V Igniting Success Q1FY27 - Key Highlights Segments Business Performance Profitability  Overall revenue at ₹1,623 Cr, growth of 26% YoY Contract Logistics  Gross Margin up by 21% YoY, at ₹166 Cr  Margin expansion across business segments  Overall revenue at ₹152 Cr, growth of 58% YoY  Gross margin turnaround: Express  Continue acquiring new profitable customers +₹9.2 Cr vs negative ₹3.6 Cr in Q1 FY26  Overall revenue at ₹71 Cr Last Mile Delivery  Gross margin at ₹6.3 Cr, up 62% YoY  Prioritize profitable business over low-margin volumes  Overall revenue at ₹45 Cr Freight Forwarding  Focus on rebuilding momentum while maintaining strong  Gross margin at ₹4.6 Cr customer service and operational discipline  Overall revenue at ₹111 Cr, growth of 38% YoY Mobility  Continue acquiring new customers (B2B), and capitalize on  Gross margin at ₹8.9 Cr, up by 2% YoY recently launched airport taxi business at Noida airport (B2C) mahindra All Revenues are after intercompany eliminations 5 LOGISTICS V Igniting Success Management Commentary Mr. Hemant Sikka – Managing Director and CEO “Q1 FY27 reflects the continued momentum of our transformation journey evolving into a growth journey. Strong revenue growth, a return to healthy profitability, and improved business fundamentals demonstrate the impact of disciplined execution, sharper customer-level economics, and a relentless focus on operational excellence. Performance this quarter was driven by continued strength in our Contract Logistics business with new customer wins across sectors, significant progress in the Express business turnaround, and sustained improvements in operational efficiency across the network. At the same time, our e-commerce and quick commerce business continues to scale, reinforcing our position in fast-growing logistics segments. The foundations we have built over the last year are now translating into stronger business outcomes. We remain focused on profitable growth, intelligent scale, superior customer experience, and our vision of becoming India's #1 logistics services provider through technology-led solutions and a passionate team.” mahinclra 6 LOGISTICS V .. Igniting Success * - Profitable & large M&M business growing YoY M&M growing at ~20% CAGR over last 3 yrs - Amongst key LSPs in E-comm/ Q-comm segment Revenue of ~1,000 Crs p.a. MLL Investment - Margin expansion measures under play thesis Multiple initiatives under progress - Leadership focus on profitable growth vs. scale-for-scale’s sake - Express business turnaround a priority Focus on turning profitable with rapid scale-up 7 Key focus areas for Mahindra Logistics STRATEGIC IMPERATIVES 1 Contract Logistics 2 Express 3 Leader in 4 Tech as a Scale-up Turnaround Ops Excellence differentiator - Penetrate deeper in existing - Enter volumetric segments - Improve customer - Automate workflows segments satisfaction index across the organization - Ops: Improve lane - Enter new segments utilizations, NSLs & - Reduce transportation - Deploy agentic-AI use- coverage costs cases 8 Igniting Success Corporate Social Responsibilities BUILDING COMMUNITIES EDUCATION SKILL DEVELOPMENT - - - - - Nanhi Kali program Police welfare initiatives NAPS program (KC Mahindra Trust) (Skill development initiative) -Distribution at Tepla: • Winter jackets - Education and holistic • Safety jackets - Hiring and deploying development of • Safety shoes apprentices thereby underprivileged girls through • Safety helmets supporting workforce the Nanhi Kali program capability -Distribution of raincoats in - Enabling access to quality Surat and Kolkata - Structured apprenticeship learning and improved and training initiatives educational outcomes -Procurement of raincoats for Pune Police Force mahindra 9 LOGISTICS V Igniting Success Drive to Net Zero Carbon Neutral by 2040 4pi ""*"`ZZZZZZ.vIt.....zzzrzi.„x,xvo„ Mg". ........................... ri liM ............................................. visigg..l.°.P..-.............. 1,200+ EV1 5 IGBC Gold & BRSR 1. V -4 4 -0 1 -• 1 7 .. 0 .. 0 .. 1 .. 0 .. , . . . . . . . f . i . w ..... iiiil& 1,73,800+ Virsoll'air4.71....100%- 2W, 3W & 4W Platinum Integrated Annual Saplings planted 1i0sWi1o l 0 o sW 1 o o 11 — s I 0 s I " • 0 W • - • 1 00 0 O "0 6 -- W — . 1 -Z -. 0 .- O . 1 o 4 W O . . 1 o 2 -W 8 t 0 o l 0 N1 e o - 1W - . . w - PCV Certified buildings Report t i i.i • ii1 ii0i i i0i s 0s0io02 -- 0040 Mm,m, +EPI M 1h. Recognition 9000+ Kg ~65 Million2 4.4 Mn Sq Feet Outstanding Waste Plastic Green KM with Solar Powered Achievement Award Collected EVs Warehouses by CIE Automotive* mahindra 10 1. EV nos. includes owned fleet LOGISTICS V 2. Green km with EVs = Total kms run till Q1FY27 since inception Igniting Success 0 Financial Update mahindra LOGISTICS Igniting Success C C D C D C - + C___D CD 0 0 0 0 0 0 euneveR Amount in Rs. Cr Consolidated Financial Highlights +26.9% +23.3% 188.9 194.5 2,002.9 1,791.4 153.3 1,624.6 Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 GM % 9.4% 10.5% 9.7% +51.4% +335.1% 112.4 115.4 25.4 20.2 76.2 -10.8 Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 EBITDA% 4.7% 6.3% 5.8% PAT % -0.7% 1.1% 1.3% 12 ADTIBE MG TAP Igniting Success * Amount in Rs. Cr Consolidated Income Statement-Q1 FY27 Particulars Q1FY27 Q4FY26 Q-o-Q Q1FY26 Y-o-Y Revenue 2,002.9 1,791.4 12% 1,624.6 23% Other Income 9.8 3.8 5.1 GM 194.5 188.9 3% 153.3 27% GM (%) 9.7% 10.5% 9.4% Total Overheads 79.1 76.6 77.1 EBITDA excl OI 115.4 112.4 3% 76.2 51% EBITDA (%) 5.8% 6.3% 4.7% Depreciation - Fixed Assets 20.4 21.1 23.6 - Lease (IND as) 51.9 48.8 41.0 EBIT 52.9 46.3 14% 16.8 216% Finance Cost - Finance Charge 1.1 1.6 11.6 - Lease (IND as) 12.7 12.7 10.9 Share of profit/(loss) of an associate / a joint venture -0.1 -0.1 0.0 Extraodinary item - - - PBT 39.1 31.9 -5.8 Tax 11.2 9.6 3.6 PAT (before JV) 27.8 22.4 -9.4 PAT (after JV and NCI) 25.4 20.2 -10.8 PAT (%) 1.3% 1.1% -0.7% Basic EPS (in Rs.) 2.6 2.0 -1.4 13 Igniting Success Adjusted EBITDA Bridge Amount in Rs. Cr Particulars Q1FY26 Q4FY26 Q1FY27 Revenue 1624.6 1791.4 2002.9 Reported EBITDA 76.2 112.4 115.4 Reported EBITDA % 4.7% 6.3% 5.8% Less: Rent Expenses 43.9 55.1 58.6 Adjusted EBITDA 32.3 57.2 56.9 Adjusted EBITDA % 2.0% 3.2% 2.8% 14 Rent Expenses: Rent paid on long-term leases, classified in the Reported P&L under Depreciation and Interest per IndAS 116 Igniting Success * Segment Wise Performance | Quarter view Amount in Rs. Cr Revenue GM EBITDA Segments Q1 FY27 Q4 FY26 Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY26 Q1 FY27 Q4 FY26 Q1 FY26 1,891.9 1,681.4 1,544.3 185.6 179.8 144.6 113.0 109.2 74.0 SCM 12.5% 22.5% 3.2% 28.4% 3.4% 52.7% 1,623.1 1,381.4 1,288.9 165.5 156.7 137.3 111.7 106.2 85.4 Contract Logistics 17.5% 25.9% 5.6% 20.5% 5.1% 30.8% 71.2 72.2 85.0 6.3 6.5 3.9 2.6 2.2 -0.5 Last Mile Delivery -1.4% -16.2% -3.5% 62.4% 17.7% 657.7% 45.3 89.2 73.8 4.6 9.9 7.0 0.3 3.3 0.8 Freight Forwarding -49.2% -38.6% -53.6% -33.8% -90.9% -65.1% 152.4 138.6 96.7 9.2 6.6 -3.6 -1.6 -2.5 -11.8 Express 9.9% 57.6% 38.8% 352.9% 35.9% 86.5% 111.0 110.0 80.3 8.9 9.1 8.8 2.5 3.1 2.3 Mobility 0.9% 38.2% -2.2% 1.9% -21.8% 7.5% 2,002.9 1,791.4 1,624.6 194.5 188.9 153.3 115.4 112.4 76.2 Conso 11.8% 23.3% 3.0% 26.9% 2.7% 51.4% 15 % change on QoQ and YoY basis Revenue after intercompany eliminations Igniting Success Express business update Amount in Rs. Cr Operational Interventions Pricing/yield Interventions Focused sales interventions • Backhaul utilization • Robust QC • Focus on value accretive customers • FM/LM1 cost reduction • Focus on VAS offerings • Pricing framework • Service level enhancements • Reduce loss-making customers MESPL Gross Margin Improvement 12.0 Early results from restructuring are visible, with sustainable drivers in place for profitability 7.0 2.0 A 0.2 6.6 9.2 2.7 I -3.0 -13.5 -6.1 -5.8 -4.7 -4.6 -4.0 -3.6 -8.0 -13.0 -18.0 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4 FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 GM% -14.1% -6.3% -6.5% -5.2% -5.1% -4.2% -3.6% 0.2% 2.3% 4.7% 5.9% 16 1. First Mile, Last Mile Igniting Success * Contact Us Company : Investor Relations Advisors : GA mahindra S Strategic Growth Advisors LOGISTICS V CIN: L63000MH2007PLC173466 CIN: U74140MH2010PTC204285 Mrs. Isha Dalal Mr. Mandar Chavan / Mr. Shogun Jain Chief Financial Officer mandar.chavan@sgapl.net / CFO.MLL@mahindralogistics.com shogun.jain@sgapl.net +91 96993 82195 / +91 77383 77756 www.mahindralogistics.com www.sgapl.net mahindra L> LOGISTICS I • .. THANKYOU ma lindra LOGISTICS Vr Corporate Office 10 & 11 Floor, Arena Space Plot No 20, Jogeshwari-Vikhroli Link Road, Near Majas Depot, Jogeshwari (East) Mumbai- 400 060 mahindra Maharashtra, India LOGISTICS I> C.I.N: L63000MH2007PLC173466 QrcIS > RIVIGOW I ) S A TICS HI ARD Email: enquiries@mahindralogistics.com eDeL I> alyte> Website : 13roTrucking I> www.mahindralogistics.com