Quarterly Business Update - Q2 FY27

2nd October 2026 BSE Limited (Scrip Code: 532720) National Stock Exchange of India Limited (Symbol: M&MFIN) Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, "G" Block, Dalal Street, Fort Bandra - Kurla Complex, Bandra (East), Mumbai - 400 001. Mumbai - 400 051. Dear Sir/Madam, Sub: Mahindra & Mahindra Financial Services Limited - Updates for Q2 FY2027 You are requested to take note of the following updates for Q2 FY27: In Q2 FY27, we estimate the overall disbursement at approximately Rs. 16,490 crore, YoY growth of ~22% over previous year and for H1 FY27 disbursement at approximately Rs. 32,050 crore, a growth of ~22% YoY (excluding finance lease). Business Assets at approximately Rs. 1,46,300 crore grew by ~15% over September 2025. The Collection Efficiency (“CE”) is estimated at 97% for Q2 FY27 (In Q2 FY26, CE was 96%). As at September 30, 2026, Stage-3 is estimated in the range of 3.35% to 3.45% (vs. 3.45% as at June 30, 2026, and 3.94% as at September 30, 2025) and Stage-2 is estimated in the range of 4.7 % to 4.8% (vs. 4.9% as at June 30, 2026, and 5.8% as at September 30, 2025). The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over Rs. 16,200 crore. Thanking you, For Mahindra & Mahindra Financial Services Limited Brijbala Batwal Company Secretary FCS: 5220