Slide 1: Exchange filing cover letter for Q2 FY26 investor presentation
November 11, 2025 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot no. C/l Dalal Street, Mumbai- 400 001 G Block, Bandra-Kurla Complex Fax: 022-2272 2037/2039/2041/3121 Bandra (E), Mumbai - 400 051 BSE Scrip Co
Slide 2: Subex Limited Investor Presentation
Subex Limited Investor Presentation 11 November 2025 investor.relations@subex.com
Slide 3: Agenda of the meeting
Agenda of the meeting • Financial Updates • Business Highlights
Slide 4: FY26 Quarterly Results
FY26 Quarterly Results • Revenue : Q2 revenue grew by 4% QoQ to ₹6,891 lakhs, supported by the improved project execution. On a year-on-year basis, Telco revenue reflects a marginal decline. • Normalized EBITDA improved significantly to ₹730 lakhs compared to ₹428 lakhs in Q1FY26, led by stronger co
Slide 5: Revenue Metrics - Q2 FY26
Revenue Metrices - Q2 FY26 Revenue By Service peeeee f \ { 1 1 I | 1 H 1 i I 1 H 1 1 I Hy 1 I ! 1 1 1 I | 1 H 1 i ! 1 H 1 1 I 1 I | 1 H 1 1 ! 1 I | 1 I I ! 1 1 | | Q2FY25 Q1FY26 | Q2FY26 I ' ! 1 ° i H @ Managed Service ‘nee I Q2FY25 QUFY26 4, Q2FY26 . } = License implementation and Customization mAm
Slide 6: Business Highlights
Business Highlights Reimagine & Grow • Announced deals over $15 Million in last few months G • • 2 new opportunities in APAC & Europe MS continues to be a strong business Growth • Renewed 2 Tier 1 MS contract in APAC & Europe • PAT turned Positive (normalized) in Q2, supported by improved margins E
Slide 7: Quarter 2 Order Intake Snapshot
Quarter 2 Order Intake Snapshot Won a new deal from an operator in APAC for Business Assurance and HyperSense Fraud management Renewed 5 years MS contract for a tier-1 operator in APAC Tier-1 operator in Europe renewed Managed Services for 5 year Tier-1 Middle East operator renewed their MS contract
Slide 8: The Subex Advantage
The Subex Advantage Strong Tailwinds - Almost all RFPs ask for AI use cases 01 in AI - Fraud Management a top AI & GenAI Use Case amongst Telcos Few Players with - 150+ customer base with data connectors processing 500bn+ records per day 02 Data Access - High switching costs Telco Domain - 30+ years
Slide 9: Global Marquee Customer Base
Global Marquee Customer Base 150+ Global customers 100+ Countries 8
Slide 10: Thank you
Thank you investor.relations@subex.com 9