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CONSOLIDATED RESULTS FOR QUARTER ENDED 31ST DECEMBER, 2023

QUARTERLY CONSOLIDATED EBITDA AT ? 44,678 CRORE ($5.4 BILLION), UP 16.7% Y-o-Y Y-O-Y EBITDA GROWTH ACROSS ALL BUSINESS SEGMENTS QUARTERLY EBITDA OF OIL & GAS BUSINESS AT ? 5,804 CRORE ($697 MILLION), UP 49.6% Y-O-Y QUARTERLY EBITDA OF RELIANCE RETAIL AT ? 6,258 CRORE, UP 31.1% Y-o-Y QUARTERLY EBITDA OF JIO PLATFORMS AT ? 13,955 CRORE, UP 11.5% Y-o-Y O2C EBITDA GROWTH MUTED BECAUSE OF PLANNED MAINTENANCE AND INSPECTION SHUTDOWN

Quarterly Performance (3Q FY24 vs 3Q FY23)

• Gross Revenue was ? 248,160 crore ($ 29.8 billion), up 3.2% Y-o-Y, supported by continued growth momentum in consumer businesses.

* Revenue for JPL increased by 11.4% Y-o-Y, led by robust subscriber growth across mobility and homes, and benefit of mix improvement in ARPU.

* Revenue for RRVL grew by 22.8% Y-o-Y with strong growth across all consumption baskets. Grocery- 41%, Fashion & Lifestyle- 28%, Consumer Electronics– 19%.

* O2C revenue declined by 2.4% primarily on account of lower price realisation led by 5.3% Yo-Y decline in average brent crude oil prices.

* Revenue from Oil & Gas segment increased significantly mainly on account of higher volumes partly offset by lower gas price realisation from KG D6 field.

• EBITDA increased by 16.7% Y-o-Y to ? 44,678 crore ($ 5.4 billion). Key contributors include:

* 11.5% Y-o-Y increase in JPL EBITDA with higher revenue and increase in margins.

* Robust 31.1% increase in RRVL EBITDA led by record footfalls amid festive season. EBITDA margin for RRVL improved by 50bps to 8.4% reflecting operating leverage and continued focus on cost management initiatives.

* Sustained performance in the O2C segment with higher gasoline cracks and advantageous feedstock sourcing. This was partially offset by lower downstream chemical margins and planned maintenance and inspection shutdown.

* Planned maintenance and inspection shutdown of CDU, FCCU, Delayed Coking and ROGC complex impacted yields and profitability. O2C EBITDA would have been higher on Y-o-Y and comparable on Q-o-Q basis if all major units were available during the quarter.

* Oil and Gas segment EBITDA increased sharply by 49.6%, led by 72.6% higher gas and condensate production from KG D6 block.

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