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Earnings Presentation Q3 FY26 January 22, 2026 InterGlobe Aviation Ltd 1
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Safe Harbor This document may contain some statements on the Company’s business or financials which may be construed as forward looking. The actual results may be materially different from these forward- looking statements. This document forms part of the quarterly earnings release and should be viewed together with the Earnings Press Release. 2 Note: This presentation has been prepared based on consolidated financial statements
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Dubai Kuwait Dammam Bahrain Abu Dhabi Muscat Doha Sharjah Jeddah Riyadh Tbilisi Baku Tashkent Almaty Nairobi Jakarta Maldives Singapore Kuala Lumpur Dhaka Kathmandu Colombo Ho Chi Minh City Hanoi Bangkok Phuket Istanbul Hong Kong Guangzhou Ras Al Khaimah Delhi Kolkata Chennai Bengaluru HyderabadMumbai Denpasar AmsterdamManchester Jaffna Puducherry Mauritius Penang Langkawi Bikaner Kishangarh Madinah Krabi Seychelles Fujairah IndiGo – Network presence 3 45.4 bn 38.4 bn 440^ 96 44 ASKs RPKs Closing Aircraft Domestic Destinations +11.2% +8.2% +3 +7 +9International Destinations** Q3’26 (change vs Q3’25) New destinations added during the quarter Existing domestic stations Metros International destinations ^Includes 3 A321 freighters and 16 Damp leases (2 B777s, 5 B787, 5 B737, 3 A321 & 1 A320) **During Q3’26, provided services to 83 additional international destinations through strategic partnerships Note: The image is for reference purpose only Copenhagen London Siem Reap
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Fleet Breakup 4 437 31st Dec 2024 Owned / Leased 199 A320neo 26 A320ceo 128 A321neo 48 ATR 3 A321 freighter Damp Leases 2 B777 19 A320ceo 12 B737 28 Owned 58 Finance Lease 338 Operating Lease 16 Damp lease Owned / Leased 180 A320neo 26 A320ceo 168 A321neo 1 A321neo XLR 46 ATR 3 A321 freighter Damp Leases 2 B777 5 B787 5 B737 1 A320ceo 3 A321neo 440 31st Dec 2025 6 Owned 47 Finance Lease 351 Operating Lease 33 Damp lease 14 Owned 62 Finance Lease 333 Operating Lease 8 Damp lease Owned / Leased 180 A320neo 26 A320ceo 153 A321neo 47 ATR 3 A321 freighter Damp Leases 2 B777 4 A320ceo 2 B787 417 30th Sep 2025
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QUARTERLY HIGHLIGHTS : Q3 FY26 vs Q3 FY25 5
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Financial Summary Particulars (in INR million) Quarter Ended Dec’25 Dec’24 Favorable/ (Adverse) ASK (billion) 45.4 40.8 11.2% Total income 245,406 229,928 6.7% RASK* (INR) 5.20 5.44 (4.5%) Total expenses 224,319 204,657 (9.6%) CASK* (INR) 4.73 4.83 1.9% CASK ex fuel* (INR) 3.20 3.25 1.5% EBITDAR 60,084 60,587 (0.8%) EBITDAR Margin (%) 25.6% 27.4% (1.8 pts) EBITDAR (ex-forex)# 70,434 74,560 (5.5%) EBITDAR Margin (ex-forex)# 30.0% 33.7% (3.7 pts) PBT 5,622 25,271 (77.8%) PBT Margin (%) 2.4% 11.4% (9.0 pts) PAT 5,491 24,488 (77.6%) PAT Margin (%) 2.3% 11.1% (8.7 pts) PAT (ex-forex)# 15,841 38,461 (58.8%) PAT Margin (ex-forex)# 6.7% 17.4% (10.6 pts) * Net of finance income of INR 9,370 million and INR 7,605 million for quarter ended Dec’25 and Dec’24 respectively # Net of gain on forex hedging of INR 784 million and INR 591 million for quarter ended Dec’25 and Dec’24 respectively 6
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5,491 10,350 15,841 9,693 5,772 31,306 Adjusted Profitability – Q3 FY26 Exceptional Items INR 15,465 mn Reported PAT Impact of new labour codes Operational disruptions PAT ex forexForex* PAT ex-forex ex exceptional items 2.3% 13.3% Amount INR in million. 6.7% Margin% Estimated provision for increase in social security benefits due to implementation of New Labour codes of India. * Net of gain on forex hedging of INR 784 million Provision for compensation as per the regulatory requirements, travel vouchers, penalty and other associated costs related to the operational disruptions 7
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Revenue breakup Particulars (in INR million) Quarter Ended Dec’25 Dec’24 Favorable/ (Adverse) Revenue from operations 234,719 221,107 6.2% Other income 10,687 8,821 21.2% Total income 245,406 229,928 6.7% ASK (billion) 45.4 40.8 11.2% RPK (billion) 38.4 35.5 8.2% Load factor (%) 84.6% 86.9% (2.4 pts) Yield (INR) 5.33 5.43 (1.8%) RASK* (INR) 5.20 5.44 (4.5%) * Net of finance income of INR 9,370 million and INR 7,605 million for quarter ended Dec’25 and Dec’24 respectively Note: The above operational metrics includes non-scheduled operations. 8
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Non-IndAS measures- RASK Particulars (in INR million) Quarter Ended Dec’25 Dec’24 Total revenue 245,406 229,928 Less: finance income 9,370 7,605 Total revenue less finance income (A) 236,036 222,323 ASK (millions) (B) 45,413 40,834 RASK (INR) (C=A/B) 5.20 5.44 9
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Cost breakup Particulars (in INR million) Quarter Ended Dec’25 Dec’24 Favorable/ (Adverse) Aircraft fuel expenses 69,445 64,226 (8.1%) Aircraft and engine rentals 5,093 7,585 32.9% Supplementary rentals and aircraft repair and maintenance (net) 33,853 28,580 (18.4%) Airport fees and charges 17,180 15,187 (13.1%) Purchase of stock in trade 1,358 1,106 (22.8%) Changes in inventories of stock in trade 3 (16) (118.8%) Employee costs 21,027 19,187 (9.6%) Finance costs 15,452 13,081 (18.1%) Depreciation and amortization expenses 27,822 22,255 (25.0%) Foreign exchange (gain)/ loss (net) 11,134 14,564 23.6% Other expenses 21,952 18,902 (16.1%) Total expenses 224,319 204,657 (9.6%) CASK* (INR) 4.73 4.83 1.9% CASK ex fuel* (INR) 3.20 3.25 1.5% CASK ex fuel ex forex* (INR) 2.96 2.90 (2.2%) Average Exchange Rate (US$/INR) 89.00 84.12 (5.8%) Closing Exchange Rate (US$/INR) 89.88 85.62 (5.0%) * Net of finance income of INR 9,370 million and INR 7,605 million for quarter ended Dec’25 and Dec’24 respectively 10
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Non-IndAS measures- CASK Particulars (in INR million) Quarter Ended Dec’25 Dec’24 Total expenses 224,319 204,657 Less: finance income 9,370 7,605 Total expense less finance income (A) 214,949 197,052 ASK (millions) (B) 45,413 40,834 CASK (INR) (C=A/B) 4.73 4.83 Fuel cost/ ASK (INR) (D) 1.53 1.57 CASK ex fuel (INR) (E=C-D) 3.20 3.25 Forex (gain)/loss / ASK (INR) (F) 0.25 0.36 CASK ex fuel ex forex (INR) (G=E-F) 2.96 2.90 11
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Non-IndAS measures- EBITDAR Particulars (in INR million) Quarter Ended Dec’25 Dec’24 PBT 5,622 25,271 Exceptional items 15,465 - Finance cost 15,452 13,081 Less: Finance income 9,370 7,605 Depreciation & amortization 27,822 22,255 Aircraft and engine rentals 5,093 7,585 EBITDAR (A) 60,084 60,587 Forex* 10,350 13,973 EBITDAR ex-forex (B) 70,434 74,560 Revenue from Operations (C) 234,719 221,107 EBITDAR Margin (D=A/C) 25.6% 27.4% EBITDAR Margin ex-Forex (E=B/C) 30.0% 33.7% * including gain on forex hedging of INR 784 million and INR 591 million for quarter ended Dec’25 and Dec’24 respectively 12
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Financial performance indicators – Q3 FY26 139,869 170,638 204,657 224,319 Q3FY23 Q3FY24 Q3FY25 Q3FY26 25.6%27.4%28.1%22.8% 2.3%11.1%15.4%9.5% Margin% 13 154,102 200,623 229,928 245,406 Q3FY23 Q3FY24 Q3FY25 Q3FY26 33,990 54,751 60,587 60,084 Q3FY23 Q3FY24 Q3FY25 Q3FY26 Total revenue (INR mn) EBITDAR (INR mn) Total expenses (INR mn) PAT (INR mn) 14,226 29,981 24,488 5,491 Q3FY23 Q3FY24 Q3FY25 Q3FY26
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369,445 289,035 146,624 148,773 516,069 437,808 Dec-25Dec-24 Cash and Debt 14 Cash Free Cash Restricted Cash Total Cash 524,784 495,937 243,799 155,448 768,583 651,385 Dec-25Dec-24 Capitalized operating lease liability Debt excluding capitalized operating lease liability Total Debt Debt +17.9% +18.0% (1.4%) +27.8% +56.8% +5.8%
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Definitions and Abbreviations Term Description ASK Available Seat Kilometer CASK Total Cost net of finance income per Available Seat Kilometer CASK ex fuel Total Cost excluding fuel cost net of finance income per Available Seat Kilometer CASK ex fuel ex forex Total Cost excluding forex and fuel cost net of finance income per Available Seat Kilometer EBITDAR Earnings before finance income and cost, tax, depreciation & amortization, aircraft & engine rentals and exceptional items EBITDAR margin EBITDAR / Revenue from Operations Load Factor Revenue Passenger Kilometer / Available Seat Kilometer PAT margin PAT / Revenue from Operations RASK Total Revenue net of finance income per Available Seat Kilometer RPK Revenue Passenger Kilometer Yield Passenger Ticket Revenue / Revenue Passenger Kilometer 15