DREAMFOLKS

Current Scenario & Financial Performance - Q2 FY27 revenue stood at ₹31.1 Cr compared to ₹205.5 Cr in Q2 FY26; H1 FY27 revenue stood at ₹70.1 Cr vs ₹554.5 Cr in H1 FY26. - Q2 FY27 adjusted EBITDA was negative ₹8.8 Cr (improved from negative ₹16.4 Cr in Q1 FY27); Loss After Tax narrowed to ₹10.7 Cr. - Bank balances and liquid investments stood at ₹187.8 Cr as of September 30, 2026. Growth Drivers & Business Diversification - Non-airport lounge services contributed over one-third of total topline during Q2 FY27. - Added a new railway lounge at Nashik, continuing direct operations in Chennai, Mumbai, and Vadodara via subsidiary Ten11 Hospitality. - Global lounge network reached over 1,100 lounges, with expanding focus on Southeast Asia. - Rolled out lifestyle and travel benefits including DF Club Membership, 'Flight Cancellation for Any Reason' with Mastercard, and wellness propositions with Elixir. - Launched the 30-acre DreamFolks Club Nagavalli Wilderness Estate offering curated golf and destination experiences. Management Guidance & Outlook - Priorities remain deepening distribution of existing propositions and scaling railway operations. - Focus on disciplined capital allocation, improving service-level margins, and achieving operating leverage.

Dreamfolks Services Limited has submitted the audio recording link for the earnings conference call held on November 3, 2026, discussing the financial performance for the quarter and half year ended September 30, 2026. - The recording is accessible via the company's official website link provided in the filing.

- Board approved the appointment of Ms. Meena Lall as Non-Executive Independent Director for a 3-year term w.e.f. January 01, 2027. - Board approved appointment of Mr. Sanyam Nagpal as Executive Director for a 5-year term w.e.f. January 01, 2027. - Both appointments are subject to shareholder approval.

- Board approved appointment of Mr. Sanyam Nagpal as Executive Director for 5 years w.e.f. January 01, 2027. - Appointed Ms. Meena Lall as Independent Director for 3 years w.e.f. January 01, 2027. - Approved Q2 FY27 financial results; noted IBC Section 9 petition alleging default of ~₹114 million.

Q2 FY27 Standalone Revenue ₹291.24 Mn vs ₹2,055.18 Mn (▼86% YoY) EBITDA ₹-139.07 Mn vs ₹128.32 Mn (Loss vs Profit YoY) PAT ₹-90.56 Mn vs ₹121.79 Mn (Loss vs Profit YoY) EBITDA Margin -47.75% vs 6.24% (▼5400bps)

- Q2 FY27 revenue stood at ₹31.1 Cr vs ₹205.5 Cr in Q2 FY26, reporting a net loss of ₹10.7 Cr vs PAT of ₹11.2 Cr YoY. - Non-airport lounge services contributed over one-third of Q2 revenue. - Launched Nagavalli Wilderness Estate private club and added Nashik railway lounge.

Q2 FY27 Standalone Revenue ₹291.24M vs ₹2,055.18M (▼86% YoY) EBITDA -₹139.07M vs ₹128.32M PAT -₹90.56M vs ₹121.79M EBITDA Margin -47.75% vs 6.24% (▼5399bps)

- Ms. Meena Lall appointed as Independent Director for a 3-year term effective January 1, 2027 to December 31, 2029. - Mr. Sanyam Nagpal appointed as Executive Director (KMP) for a 5-year term effective January 1, 2027 to December 31, 2031. - Both appointments are subject to shareholders' approval.

Q2 FY27 Standalone Revenue ₹291.24 Mn vs ₹2,055.18 Mn (▼86% YoY) EBITDA -₹139.07 Mn vs ₹128.32 Mn (Loss) PAT -₹90.56 Mn vs ₹121.79 Mn (Loss) EBITDA Margin -47.8% vs 6.2% (▼5,400bps) - Operational creditor Travel Food Services filed Section 9 IBC petition alleging default of ~₹114 Mn - Board approved appointment of Meena Lall as Independent Director and Sanyam Nagpal as Executive Director w.e.f. January 1, 2027

Q2 FY27 Consolidated Revenue ₹31.07Cr vs ₹205.52Cr (▼85% YoY) EBITDA -₹12.87Cr vs ₹11.96Cr (loss vs profit YoY) PAT -₹10.74Cr vs ₹11.23Cr (loss vs profit YoY) EBITDA Margin -41.4% vs 5.8% (▼4,722bps)

- Dreamfolks Services Limited has updated regarding the second phase of acquisition of ETT Solutions DMCC. - The completion timeline for the primary subscription of freshly issued shares is extended by an additional 180 business days beyond the previously extended timeline due to pending procedural and regulatory formalities. - The company currently holds a 34% stake in ETT following the completion of the first phase.

Concall Schedule Concall Date: 03rd November 2026 Concall Time: 17:30 hours IST

- Dreamfolks Services Limited received a favourable order on October 14, 2026, from the Commissioner of CGST & Central Excise (Appeals-II), Mumbai. - The appellate authority set aside the earlier GST demand order dated August 31, 2024. - The initial order had imposed a demand of ₹1,35,09,720 plus interest and a penalty of ₹13,50,972 regarding an ITC mismatch for FY 2019-20.

DreamFolks Services Limited announced the launch of DreamFolks Club Nagavalli Wilderness Estate in the Eastern Ghats on the Odisha-Andhra Pradesh border. - The private, members-only club spans approximately 30 acres and features a 25-acre golf course, 37 cottages, a spa, pool, and restaurant. - The launch marks the company's expansion into bespoke experiential hospitality.

- Dreamfolks Services Limited received a Demand cum Show Cause Notice from the Office of the Commissioner of CGST (Audit), Gurugram. - The notice pertains to FY 2021-22 for an IGST tax demand of ₹78,86,667 and an equivalent proposed penalty of ₹78,86,667, totaling ₹1,57,73,334 along with applicable interest. - The alleged violation relates to Input Tax Credit (ITC) availed on invoices from a supplier whose GST registration was cancelled retrospectively, though the supplier had deposited the applicable GST. - The company stated there is no immediate material impact on financials or operations and is preparing a reply.

- Dreamfolks Services Limited received a Show Cause Notice from the Office of the Assistant Commissioner of Central Tax, Hyderabad, on September 30, 2026. - The notice under Section 73(1) of the CGST Act demands a tax of ₹1,70,51,787 and a penalty of ₹17,05,178 (total ₹1,87,56,965). - The SCN alleges a difference between Input Tax Credit (ITC) reported in FORM GSTR-3B and GSTR-2A for FY 2022-23. - The company stated there is no immediate material impact on financials or operations and plans to submit a reply within the timeline.

- Trading window for dealing in equity shares of the company will be closed from October 01, 2026. - Closure will remain effective until 48 hours after the declaration of Unaudited Financial Results for the quarter and half-year ending September 30, 2026. - Board meeting date for approving results will be intimated in due course.

- DreamFolks Services Limited announced a partnership with Elixir to provide premium spa benefits for Elixir's upcoming wellness-focused credit card. - Elixir cardholders will gain access to curated spa experiences through DreamFolks' technology-enabled lifestyle platform. - This collaboration strengthens DreamFolks' evolution into a broader travel and lifestyle benefits company.

- The 18th Annual General Meeting (AGM) of Dreamfolks Services Limited is scheduled for Monday, September 28, 2026, at 11:30 A.M. (IST) via Video Conferencing/Other Audio Visual Means. - The Annual Report for FY 2025-26 and the Notice of AGM are available on the company's website. - Remote e-voting facility will be available from September 25, 2026 (09:00 A.M.) to September 27, 2026 (05:00 P.M.).

- Dreamfolks is transforming from a lounge aggregator to a broader travel and lifestyle benefit platform, focusing on personalized propositions and technology. - Q1 FY27 saw a significant drop in revenue, EBITDA, and PAT due to structural changes, upfront investments in global lounge expansion, and the impact of geopolitical events on international traffic, particularly in the Middle East. - Non-airport lounge services contributed approximately 33% of the top line during the quarter, reflecting diversification. - The company expects to reach breakeven by next year (FY28) and reiterated its H2 FY28 target for EBITDA breakeven. - Investments in global lounges, new services (golf, railway lounges), and client acquisitions in APAC (3 large clients signed) are expected to drive future growth and improve profitability. - Cash and cash equivalents increased to ₹193.3 Cr from ₹149 Cr in the previous quarter due to strong collection efforts.

- Audio recording of the Earnings Conference Call for the financial results for the quarter ended June 30, 2026, is now available. - The conference call was held on August 13, 2026, at 17:00 hours (IST).

- Q1 FY27 Consolidated Revenue ₹39.0Cr vs ₹348.9Cr (▼88.82% YoY) - Adjusted EBITDA ₹(16.4)Cr vs ₹30.5Cr (▼153.77% YoY) - PAT ₹(13.8)Cr vs ₹21.3Cr (▼164.79% YoY) - Adjusted EBITDA Margin -42.05% vs 8.74% (▼5079bps)

- Q1 FY27 Consolidated Revenue ₹390.11Mn vs ₹3,489.50Mn (▼88.82% YoY) - EBITDA ₹-207.71Mn vs ₹269.49Mn (▼177.10% YoY) - PAT ₹-138.31Mn vs ₹212.70Mn (▼165.03% YoY) - EBITDA Margin -53.24% vs 7.72% (▼6096bps) - An IBC petition has been filed by an operational creditor for ₹114.00Mn alleging default in payment. The company disputes the claim and has made provisions. - Reappointment of Mr. Sunil Kulkarni as Independent Director for 5 years. - Appointment of Mr. Lloyd Mathias as Additional and Independent Director for 3 years.

- Q1 FY27 Consolidated Operating Revenue ₹39.01 Cr vs ₹348.95 Cr (▼88.82% YoY) - EBITDA ₹-20.77 Cr vs ₹26.95 Cr (shifted from profit to loss YoY) - PAT ₹-13.83 Cr vs ₹21.27 Cr (shifted from profit to loss YoY) - EBITDA Margin -53.24% vs 7.72% (▼6096bps) - An IBC petition has been filed against the company by Travel Food Services Limited for an alleged payment default of ₹11.40 Cr. - Mr. Sunil Kulkarni reappointed as an Independent Director for a further 5 years. - Mr. Lloyd Mathias appointed as an Additional Independent Director for 3 years.

- Q1 FY27 Consolidated Revenue ₹39.01Cr vs ₹348.95Cr (▼88.80% YoY) - EBITDA ₹-17.07Cr vs ₹29.52Cr (▼157.85% YoY) - PAT ₹-13.83Cr vs ₹21.27Cr (▼164.08% YoY) - EBITDA Margin -43.76% vs 8.46% (▼5222 bps) - An Insolvency and Bankruptcy Code (IBC) petition has been filed against the company for an alleged default of approximately ₹11.40 Cr. - Board approved the reappointment of Mr. Sunil Kulkarni as an Independent Director for a further 5 years. - Board approved the appointment of Mr. Lloyd Mathias as an Additional Director (Independent Director) for 3 years.

- Q1 FY27 Consolidated Revenue ₹39.01Cr vs ₹348.95Cr (▼88.80% YoY) - EBITDA ₹-20.77Cr vs ₹26.95Cr (▼177.01% YoY, swing to loss) - PAT ₹-13.83Cr vs ₹21.27Cr (▼165.03% YoY, swing to loss) - EBITDA Margin -53.24% vs 7.72% (▼6096bps) - Board approved the reappointment of Mr. Sunil Kulkarni as an Independent Director for five years. - Board approved the appointment of Mr. Lloyd Mathias as an Additional Independent Director for three years. - An "Emphasis of Matter" in the auditor's report highlights an IBC petition filed by an operational creditor for an alleged payment default of ₹11.40 million.

- Q1 FY27 Consolidated Revenue ₹390.11Cr vs ₹3,489.50Cr (▼88.82% YoY) - EBITDA -₹207.71Cr vs ₹269.49Cr (Moved from profit to loss YoY) - PAT -₹138.31Cr vs ₹212.70Cr (Moved from profit to loss YoY) - EBITDA Margin -53.24% vs 7.72% (▼6096bps) - Auditors highlighted an Emphasis of Matter regarding an Insolvency and Bankruptcy Code (IBC) petition filed against the company for ₹114.00 million by an operational creditor.

- Q1 FY27 results showed significant losses: Revenue down 88.8% YoY, PAT down 165% YoY. - Independent Directors Mr. S. Kulkarni reappointed, Mr. L. Mathias appointed. - An IBC petition alleging ₹114Mn payment default was filed against the company.

- Concall Schedule - Concall Date: 13th August 2026 - Concall Time: 17:00 hours IST