Updates

EW/Sec/2026-27/280 September 28, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: - 532922 Symbol: – EDELWEISS Dear Sir/Madam, Sub: 31st Annual General Meeting - Presentation Please find enclosed the presentation made at the 31st Annual General Meeting of the Company held on Monday, September 28, 2026 at 4.00 p.m. through Video Conferencing/Other Audio Visual Means (VC/OAVM). Kindly take the same on record. Thanking you, Yours faithfully, For Edelweiss Financial Services Limited Tarun Khurana Company Secretary Encl. as above Edelweiss Financial Services Limited Corporate Identity Number: L99999MH1995PLC094641 Registered Office: Edelweiss House, off. C.S.T. Road, Kalina, Mumbai - 400 098 Tel No.: +91 022 4079 5199 Email ID: cs@edelweissfin.com Website: www.edelweissfin.com EDELWEISS FINANCIAL SERVICES LIMITED 31ST ANNUAL GENERAL MEETING Contents Edelweiss today 01 03 The year ended March 2026 Transformation through the years 02 11 De-risking of NBFC, compounding, the pivot to capital-light Understanding the EFSL P&L 03 26 Where earnings come from - and why they are sustainable Intrinsic Value 04 31 Our compass for long-term value creation Edelweiss today The year ended March 2026 EDELWEISS AT A GLANCE · YEAR ENDED MAR 2026 Profit up, Debt down, Value compounding Consolidated PAT (Post MI) Consolidated Net Debt Net Worth Book Value per Share ₹547 Cr ₹10,430 Cr ₹5,944 Cr ₹49 ▲ 37% YoY ▼ (7%) YoY DIVERSIFIED BUSINESS MODEL Seven high-quality businesses Edelweiss Financial Services Ltd (EFSL) Alternative Asset Housing General LLififee Mutual Fund NBFC Asset Mgt Reconstruction Finance Insurance IInnssuurraannccee EAAA India Edelweiss Asset Edelweiss Asset ECL Finance Nido Home Zuno General Edelweiss Life Alternatives Ltd Management Ltd Reconstruction Ltd (ECLF) Finance Ltd Insurance Limited Insurance (Edelweiss (EAML) Company Ltd (NHFL) (ZGIL) Company Ltd Alternatives) (EARC) (ELI) Equity: Equity: Equity: Equity: Equity: Equity: Equity: ₹1,076 Cr ₹239 Cr ₹2,985 Cr ₹2,029 Cr ₹853 Cr ₹350 Cr ₹456 Cr EFSL Stake: EFSL Stake: EFSL Stake: EFSL Stake: EFSL Stake: EFSL Stake: EFSL Stake: 96% 90% 63% 100% 100% 100% 83% FY26 PAT: FY26 PAT: FY26 PAT: FY26 PAT: FY26 PAT: FY26 PAT: FY26 PAT: ₹265 Cr ₹85 Cr ₹350 Cr ₹14 Cr ₹23 Cr ₹(57) Cr ₹(159) Cr KEY HIGHLIGHTS FOR THE YEAR FY26: growth, de-leveraging and strategic milestones Robust earnings growth Broader customer franchise ▲ 37% YoY ▲ 31% YoY 01 02 Consolidated PAT (Post MI) rose to Total customer reach expanded to ₹547 Cr 14 Mn Continued de-leveraging Strategic milestones delivered ▼ (7%) YoY On track 03 04 Consolidated net debt reduced to Investment by WestBridge in MF and ₹10,430 Cr Carlyle investment in Nido completed; Edelweiss Alternatives IPO on track EARNINGS DISTRIBUTION ACROSS BUSINESSES Consol PAT up 37% YoY driven by Asset Management businesses ₹ Cr Profit After Tax FY26 FY25 Alternative Asset Management 265 230 Mutual Fund 85 53 Asset Reconstruction 350 385 NBFC 14 55 Housing Finance 23 19 General Insurance (57) (48) Life Insurance (159) (127) Operating Business PAT 520 566 Corporate PAT 161 (31) (Less) Minority shareholders’ PAT 134 137 ▲ 37% YoY EFSL Consolidated PAT (Post MI) 547 YoY3 g9ro9wth in Consolidated PAT Operating Business PAT for FY26 includes ₹143 Cr of exceptional items (ESOP, one-time LabourCode impact across businesses and GST impact in Life Insurance) TOTAL CUSTOMER REACH A franchise reaching 14 million customers, up 31% YoY Total Customer Reach Mutual Fund Folios General Insurance Customers Lakhs ▲ 46% YoY Lakhs ▲ 31% YoY 135 Lakh 37 93 ▲ 31% YoY From 103 lakh in Mar 25 Mar 25 Mar 26 Mar 25 Mar 26 NET DEBT Consol net debt down by 7% YoY ₹ Cr Business Mar 26 NBFC 2,375 Housing Finance 1,805 Alternative Asset Management 340 Asset Reconstruction (500) Corporate 6,410 Net Debt 10,430 ▼ (7%) YoY UPDATE ON STRATEGIC PRIORITIES Enhancing value through strategic transactions Mutual Fund Nido Home Finance Edelweiss Alternatives Strategic investment by Carlyle as a strategic majority IPO in Q3FY27 WestBridge Capital investor Completed Completed On track Transformation through the years Systematic de-risking of NBFC · Patient compounding of businesses · Intentional pivot to a capital-light Edelweiss 1· SYSTE M ATIC D E- RISKIN G O F NB FC Amidst one of the deepest credit cycles, our first priority was clear - strengthen the NBFC balance sheet by systematically reducing both leverage and the wholesale book 1· SYSTEMATIC DE-RISKING OF NBFC We have delivered on both NBFC Net Debt NBFC Wholesale Book NBFC Equity 2019 ₹23,500 Cr ₹18,000 Cr ₹4,300 Cr 2026 ₹2,375 Cr ₹1,750 Cr ₹2,030 Cr ↓ (90%) ↓ (90%) Net debt reduced by ~₹21,000 Cr; Wholesale book almost wound down 2· PATIE NT CO M PO UND ING O F B USINE SSE S While NBFC de-risked, other businesses continued building Through the entire credit cycle, our operating businesses kept compounding — in AUM, in customers and in profit 2· PATIENT COMPOUNDING Operating businesses grew through the cycle Alternative Asset Management Mutual Fund General Insurance Fee Paying AUM Equity AUM Gross Written Premium +24% CAGR +51% CAGR +42% CAGR Life Insurance Asset Reconstruction Housing Finance Asset Under Management Cumulative Recoveries Disbursements +23% CAGR ₹66,200 Cr +19% CAGR since FY16 CAGR from Mar 20 to Mar 26 2· PATIENT COMPOUNDING Alternative Asset Management: AUM up 4x, Profit up 12x Fee Paying AUM Profit After Tax ₹ Cr ₹ Cr +24% CAGR +51% CAGR 44,710 265 30,400 16,800 12,250 Mar 20 Mar 22 Mar 24 Mar 26 Mar 20 Mar 22 Mar 24 Mar 26 2· PATIENT COMPOUNDING Mutual Fund: Equity AUM up 12x, Profit up 70x Equity AUM Profit After Tax ₹ Cr ₹ Cr +51% CAGR +103% CAGR 78,000 43,700 25,800 6,500 Mar 20 Mar 22 Mar 24 Mar 26 Mar 20 Mar 22 Mar 24 Mar 26 2· PATIENT COMPOUNDING General Insurance: Premium up 8x Gross Written Premium Asset Under Management ₹ Cr ₹ Cr +42% CAGR +33% CAGR 1,691 1,294 1,122 360 457 Mar 20 Mar 22 Mar 24 Mar 26 Mar 20 Mar 22 Mar 24 Mar 26 2· PATIENT COMPOUNDING Life Insurance: AUM tripled, EV doubled Asset Under Management Embedded Value ₹ Cr ₹ Cr +23% CAGR +10% CAGR 10,425 2,363 7,990 1,951 5,485 1,574 1,336 3,082 Mar 20 Mar 22 Mar 24 Mar 26 Mar 20 Mar 22 Mar 24 Mar 26 2· PATIENT COMPOUNDING Asset Reconstruction: ₹66,200 Cr recovered since FY16​ Cumulative Recoveries ₹ Cr 66,200 22,600 Mar 20 Mar 26 2· PATIENT COMPOUNDING NBFC: Building the MSME franchise MSME AUM ₹ Cr +10% CAGR 1,431 1,275 Mar 22 Mar 24 Mar 26 2· PATIENT COMPOUNDING Housing Finance: Disbursements more than doubled Disbursements ₹ Cr +24% CAGR 2,171 1,324 Mar 22 Mar 24 Mar 26 3· THE O UTCO M E This journey has resulted in capital-light growth for Edelweiss 3· THE OUTCOME A capital-light compounder: 10x the profit, ⅓rd the debt Consolidated PAT (Post MI) Consolidated Net Debt ₹ Cr ₹ Cr ⅓ 10x rd 28,750 18,400 15,340 10,430 Mar 20 Mar 22 Mar 24 Mar 26 Mar 20 Mar 22 Mar 24 Mar 26 More profit, far less capital — a testimony to our capital-light growth T O SUMMA RI Z E . . . W E HA VE T RA N SF O RME D O VE R T HE YE A RS Systematic. Intentional. Patient. Amidst one of the deepest credit cycles – the NBFC rebuilt its balance sheet, while the operating businesses compounded. The result: a fundamentally different, capital-light Edelweiss. 10x ⅓ Capital-light Growth in Consolidated PAT Consolidated Net Debt Asset-light, capital-efficient model Understanding the EFSL P&L Where the earnings come from — and why they are sustainable THE BUILDING BLOCKS OF CONSOLIDATED PAT Consolidated PAT is the sum of two elements Operating Business PAT Corporate PAT Robust and predictable Episodic, range-bound Consolidated PAT ₹(100) – 100 Cr Expect to grow at 20–25% on an annual basis OPERATING BUSINESS PAT Operating Business PAT more than doubled since FY20 Operating Business PAT ₹ Cr 2.5x Mar 20 Mar 26 Core driver of Consolidated PAT; expe [Showing first 8,000 characters — download PDF for full document]