Investor Presentation August, 2022

Industry outlook GULSHAN POLYOLS LIMITED Company will be able to achieve good financial performance owing to structural industry tailwinds in the sectors that we operate. Segment wise industrial growth opportunities are as follows: Grain Processing • The India sorbitol market is a very dynamic market and is expected to witness steady growth over the forecast period. • Sorbitol, a key product offering, is a low-calorie sugar substitute used in many products such as candies, chewing gum, ice cream, baked goods, cosmetics, toothpaste, personal care products and pharmaceuticals. • Liquid sorbitol segment is expected to hold the largest market share by the year 2030. The segment growth can be attributed to factors such as technological advancements in production, easy usability and reduced manufacturing cost. Owing to increased customer awareness, demand for low sugar and low-calorie products and diversified applications, company shall continue to witness good growth rates. The Powder/Crystal sorbitol segment is expected to observe significant growth as it is widely used as additive in food for production of frozen raw fish, dried squid thread, roasted fish fillet, and several other aquatics products. • Liquid fructose is another product in which Gulshan is establishing its strong footprints as a major supplier backed by heavy import substitution. Ethanol Production • With government's increased focus on ethanol blending in petroleum, company believe that there is a long runway for growth. • As per current statistics, ethanol blending stands at 9.9% and is targeted to reach 20% by 2025-26. • In order to capitalize on this opportunity, the Company is augmenting its capacity to 810 KLPD from 60 KLPD currently. This shall turn the company into a formidable player with a sizeable market share in distillation segment. Mineral Processing In mineral processing, our key product is calcium carbonate which is a widely used compound as an industrial filler and finds application in paints, paper, plastic, rubber and pharma industries. With growth in underlying industries, we shall continue to witness decent growth due to our capabilities and diversified offerings. As part of the growth strategy, company intends to stay focus on setting up of innovative on-site PCC plants for our established clientele by way of installing, commissioning, operating and maintaining at least one on-site PCC plant every year, from which company will have consistent revenue growth. Source: Market Research Future Report Investor Presentation August, 2022. 35

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