JPL

Current Performance - Consolidated Revenue rose 11.4% YoY to ₹40,475 Cr; EBITDA grew 16.6% YoY to ₹21,879 Cr with margins expanding 250 bps to 54.1%. - PAT grew 13.7% YoY to ₹8,387 Cr; ROCE improved 80 bps in Q2 to 11%. - Total subscribers stood at 542.4M (9.1M net adds in Q2), with 5G users reaching 300M; connected homes reached 30M. - ARPU expanded to ₹218.8/month (+3.5% YoY) alongside average data consumption of 44.2 GB/month per user. Capex & Debt Outlook - Management indicated that peak capex is behind, and annual capex over the next 4-5 years is not expected to exceed last year's levels. - Net debt stood at ₹8,822 Cr (0.11x leverage) as of Sep 30, 2026, and turned net debt positive after ₹30,188 Cr IPO proceeds. - Management anticipates strong free cash flow expansion, which will support potential dividend payouts. Growth Drivers & Management Outlook - Mobility targeting an addressable market of 340M new 4G/5G users in India without requiring incremental capex or spectrum. - Fixed broadband aiming to capture the Indian market potential of 150M homes by FY31 using proprietary UBR and FWA. - Pursuing international market expansion via asset-light managed services and partnership models across 10-15 selected global operators. - Growth prioritized via 'digital gateway' monetization (cloud, gaming, enterprise, and voice AI integrations) rather than relying solely on tariff hikes.

- Audio recording of the analyst meet discussing Q2 & H1 FY27 financial results held on October 30, 2026, has been made available on the company's website. - The physical analyst meet concluded at 8:45 p.m. IST.

Q2 FY27 Consolidated Revenue ₹40,475Cr vs ₹36,332Cr (▲11.4% YoY) EBITDA ₹21,879Cr vs ₹18,757Cr (▲16.6% YoY) PAT ₹8,387Cr vs ₹7,375Cr (▲13.7% YoY) EBITDA Margin 54.1% vs 51.6% (▲250bps)

- Q2 FY27 Revenue from Operations grew 11.4% YoY to ₹40,475 Cr. - Reported EBITDA increased 16.6% YoY to ₹21,879 Cr with a 54.1% margin. - Total subscriber base reached 542.4 Mn, including 300 Mn 5G subscribers. - Connectivity ARPU rose 3.5% YoY to ₹218.8/month.

Q2 FY27 Consolidated Revenue ₹40,475Cr vs ₹36,332Cr (▲11.4% YoY) EBITDA ₹20,901Cr vs ₹18,103Cr (▲15.5% YoY) PAT ₹8,387Cr vs ₹7,379Cr (▲13.7% YoY) EBITDA Margin 51.6% vs 49.8% (▲181bps)

- Jio Platforms Limited has informed the stock exchanges regarding the adoption of the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) and Code of Conduct under SEBI PIT Regulations, 2015. - The filing includes details on fair disclosure principles, designation of a Chief Investor Relations Officer, and the policy for determination of legitimate purposes.

- The company disclosed details of Key Managerial Personnel authorized for determining materiality of events and making disclosures to stock exchanges. - Authorized KMPs include Mr. Saurabh Sancheti (CFO) and Ms. Savithri Parekh (Company Secretary). - Disclosure made pursuant to Regulation 30(5) of SEBI (LODR) Regulations, 2015.

- Board of Directors meeting scheduled on Friday, October 30, 2026, to approve standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. - Analyst meet to be held post the Board meeting to discuss financial results. - Trading window will remain closed until November 1, 2026.