Shareholders meeting

July 10, 2026 BSE Limited National Stock Exchange of India Limited Scrip Code: 543942, 975790, 959644, Symbol: UTKARSHBNK 976203 Dear Sir/Madam, Sub: Annual Report for the Financial year 2025-26 and Notice of Tenth (10th) Annual General Meeting of Utkarsh Small Finance Bank Limited We refer to our letter dated June 20, 2026 in relation to the date of the 10th Annual General Meeting (“AGM”) of the Bank and pursuant to Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the Notice of 10th AGM (“Notice”) and Annual Report (including the Business Responsibility and Sustainability Report) for the financial year 2025-26 which is also available on the website of the Bank at the link given below:  https://www.utkarsh.bank.in/uploads/template_forty_pdf/Notice_of_10th_AGM 04_08_2026.pdf  https://www.utkarsh.bank.in/uploads/template_forty_pdf/Annual_Report_FY_2025- 26.pdf The Notice of AGM and the Annual Report for financial year 2025-26 are being sent by electronic means to the Members & Debenture holders who have registered their e-mail addresses with Bank/Registrar and Share Transfer Agent (“RTA”)/Depository Participants (“DP”). A letter providing the QR Code and the web-link giving the exact path, for accessing the Notice of AGM and the Annual Report 2025-26 is being sent to those Members & Debenture holders who have not registered their email addresses with the Bank/RTA/DP. A copy of the said letter is enclosed for your record. This is for your information and records. Thanking You. Yours faithfully, For Utkarsh Small Finance Bank Limited Muthiah Ganapathy Company Secretary & Compliance Officer Encl.: a/a Reaffirming our Purpose. Renewing our Collective Commitment. Annual Report, FY 2025-26 About this report This Annual Report of Utkarsh Small Finance Bank Limited for FY 2025–26 presents a comprehensive overview of the Company’s financial and non-financial performance, covering the period from April 1, 2025, to March 31, 2026. Contents Corporate Overview 62 Utkarsh SFBL is positioning to drive sustainable longterm stakeholder value 1 Our performance, FY 2025-26 64 Business model 4 About the theme 68 Business driver 6 Corporate snapshot Our environment, social and governance commitment 10 Awards and accolades 103 Our responsibility in action Capital structure and shareholding pattern of the Bank 110 Board of Directors 13 What we offer 113 Key Management Personnel 14 Utkarsh SFBL’s geographical footprint 114 Leadership team across India Statutory Reports 16 How we have transformed and grown 118 Management Discussion & Analysis 18 How we have performed across the years 147 Basel Disclosures 22 The unprecedented Bharat opportunity 175 Board’s Report 24 Chairman’s message 205 Corporate Governance Report 28 Managing Director and CEO’s overview 234 BRSR Report 32 Financial perspective Financial Statements 36 Our risk management framework 275 Independent Auditor’s Report 38 The Utkarsh SFBL culture 282 Audited Financial Statements 46 Our vast and growing operating landscape 361 Notice Our structural advantage as a Small Finance Bank 377 Social Drives and Engagement 56 Governance: The basis of value creation 380 News paper coverage Forward-Looking Statement This Annual Report has been prepared in compliance with applicable laws, including the relevant regulations issued by the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). It may include forward-looking statements that reflect the Utkarsh Small Finance Bank’s current views and expectations based on the information available at the time. These statements are inherently subject to risks, uncertainties, and assumptions, and actual results may differ materially from those expressed or implied. Utkarsh Small Finance Bank Limited assumes no obligation to revise or update any forward-looking statements, whether due to new information, future developments, or otherwise. This Report is provided solely for general informational purposes and should not be regarded as financial, investment, legal, or professional advice. Readers are encouraged to consult Utkarsh Small Finance Bank’s regulatory filings and seek advice from qualified professionals before making any decisions. All content within this document – including text, articles, and other material, unless sourced from third parties – is the intellectual property of Utkarsh Small Finance Bank Limited and may not be reproduced or distributed without prior written permission of the Bank. All rights reserved. Our Performance, FY 2025-26 An overview of scale, growth and resilience 3,809.75 950 ₹ Crore, total revenue ₹ Crore, Equity raise 19,332.44 21,653.98 ₹ Crore, total loan portfolio ₹ Crore, total deposit portfolio 51 24 %, Secured Portfolio share %, CASA Ratio 1,100+ 5.19 Banking outlets Million Total Customers PART 2 | Utkarsh Small Finance Bank Limited Business Overview Statutory Reports Financial Statements What We Are What We Do Annual Report 2025-26 | 3 About the theme Reaffirming Our Purpose. Renewing Our Collective Commitment. 5 PRINCIPAL Purpose tested, not Asset quality reset MESSAGES OF diluted: The institution as a conscious continued advancing pivot: The spike in THIS ANNUAL its financial inclusion NPAs and elevated mandate with consistency, credit costs were commitment, and acknowledged REPORT customer focus across without obfuscation. evolving market conditions. 4 | Utkarsh Small Finance Bank Limited Business Overview Statutory Reports Financial Statements Reaffirming our purpose is most meaningful when tested by adversity; renewing our commitment is most credible when backed by action. For Utkarsh Small Finance Bank, FY 2025–26 was such a year — when our financial performance reflected stress, even as our institutional intent stood firm. In a challenging environment, reaffirming purpose meant staying anchored to financial inclusion, serving the underserved and the unserved without deviation. Renewing this commitment required decisive actions: tightening our underwriting, accelerating a shift towards secured and diversified lending, and proactively resolving stress through measures such as NPA sales and Balance Sheet clean-up, ensuring the sustainability of our inclusion agenda. For stakeholders, the message is clear. Customers remain at the centre, depositors are protected by strong liquidity buffers, and investors benefit from transparency over short- term pain. FY 26 may then be remembered as a year of compression but also as an inflection point where discipline, resilience and responsibility converged to rebuild trust and restore momentum. 3 4 5 Earnings pressure Calibrated Stakeholder trust is cyclical; diversification: There as currency: franchise strength has been a shift from Transparent is structural: concentration risk in disclosures, While profitability microfinance towards conservative compressed, the secured, granular, and provisioning underlying business diversified portfolios. and continued engine remained customer commitment stable. reinforced trust. Annual Report 2025-26 | 5 Corporate snapshot India’s financial inclusion journey is being shaped by institutions like Utkarsh Small Finance Bank Limited. The Bank combines reach with relevance, bringing formal banking closer to underserved and unserved communities. It delivers modern banking solutions with speed to millions across the country. It leverages a deep local understanding to make banking simple, accessible and responsive. The Bank’s approach empowers micro- entrepreneurs and rural households through tailored credit, savings and wealth creation solutions. Our customer-centric ecosystem - from doorstep banking to secure mobile platforms - is redefining everyday banking experiences across India’s heartland. Our commitment to strong governance is playing a meaningful role in strengthening financial wellbeing and economic progress for millions. 6 [Showing first 8,000 characters — download PDF for full document]