Investor Presentation

Ref No: 65/2026-27 Date: 09th October, 2026 The Manager, The Manager, Listing Department, Listing Department, The National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, 5th Floor, Plot C/1, G Block, Phiroze Jeejeebhoy Tower, Bandra - Kurla Complex, Bandra (E), Dalal Street, Mumbai - 400 001. Mumbai - 400 051. Tel No.: 2659 8235 Tel no.: 22721233 Fax No.: 26598237/ 26598238 Fax No.: 22723719/ 22723121/ 22722037 Trading Symbol: ANANDRATHI Scrip Code: 543415 Subject: Submission of Investor Presentation for the Second Quarter and Half year ended 30th September, 2026 Dear Sir/Madam, In terms of Regulation 30 read with Para A of Part A of Schedule III the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the investor presentation for the second quarter and half year ended 30th September, 2026. We request you to kindly take the above on record. Thanking You, Yours faithfully, For Anand Rathi Wealth Limited Pravin Jogani Company Secretary and Compliance Officer M. No. A25413 Enclosed: As above. ANAND RATHI WEALTH LIMITED I N V E S T O R P R E S E N T A T I O N Quarter & Half Yearly ended 30th September 2026 TH E PEOPL E BEH I ND Uncomplicated Wealth Index Consolidated Highlights Private Wealth Business Future Unlocking of India’s Wealth Story Digital Businesses Annexures Building a Wealth Management Business It is not a capital race — it is a credibility marathon 1 Wealth Management Is Not a Capital Business 5 Transparency with Clients Is Non-Negotiable • A relationship manager cannot handle thousands of • Zero secrets with the client about how much you clients. earn. • The business is inherently linear, not exponential. • Transparency protects the franchise. 2 This Is a Business of Patience and Time, Not • True client centricity lies in selling what you buy, not selling what sells. Speed 6 Relationship Managers Do Not Scale Like • Speed and Capital did not translate into sustainable Startups so built RMs Rather Buying RMs. business. • Aggressive hiring alone does not build a wealth Wealth Management Is a Business of business. It takes nearly five years for an RM to Mr. Rakesh Rawal Backward Integration Executive Director & CEO become successful. • Distribution first → Manufacturing later. Focus on Wealth & Not on Capital • Manufacturing mistakes are far more damaging. 7 • Wealth, by definition, is intergenerational. • Focus on intergenerational wealth, not buoyant capital. 4 Every Leader Must First Be a Relationship • Being everything to everyone is unrealistic. Stay Manager focused. • True empathy for RMs and clients can only be built if there is no administrative leadership. 8 If You Want RMs to Stay Long, the Platform Has to Think Longer • Leadership at all levels — CEO, Joint CEO, Unit • Don’t change incentive formulae in short term for long Heads, Team Leaders—and even support functions term benefits. Mr. Feroze Azeez like Product must actively contribute as Relationship • Remuneration should be earned through results, not Joint Chief Executive Officer Managers. years of service Consolidated Highlights Quick Glance Consolidated Financial Highlights · Rs. Crores Particulars Q2FY26 Q2FY27 Y/Y% H1FY26 H1FY27 Y/Y% Revenue from Operations 297.4 344.0 15.7% 571.4 666.0 16.6% Total Revenue 307.0 356.6 16.1% 591.2 693.0 17.2% Employee Benefit Expenses 124.9 141.4 13.2% 239.7 271.6 13.3% Other Expenses 48.1 52.1 8.3% 91.2 102.0 11.9% Total Cost 173.0 193.5 11.8% 330.9 373.6 12.9% PBT 134.0 163.1 21.7% 260.2 319.4 22.7% PAT 99.8 121.9 22.2% 193.6 237.8 22.8% PAT Margin (%) 32.5 34.2 32.8 34.3 AUM 91,568 1,08,377 18.4% 91,568 1,08,377 18.4% Financial results presented above adjusted to exclude fair value gains on investments, ESOP expenses and related tax effects,to reflect business performance. Financial Performance For Q2FY27 Consolidated Financial Highlights · Rs. Crores Total Revenue Profit After Tax & Margin Financial results presented above adjusted to exclude fair value gains on investments, ESOP expenses and related tax effects, to reflect business performance. 1 6 % Y / Y 22% Y/Y Q2FY26 Q2FY27 3 2 . 5 % 34.2% 2 6 Q 2 Trail Revenue 18% Y/Y Q2FY26 Q2FY27 Financial Performance For H1FY27 Consolidated Financial Highlights · Rs. Crores Total Revenue Profit After Tax & Margin Financial results presented above adjusted to exclude fair value gains on investments, ESOP expenses and related tax effects, to reflect business performance. 1 7 % Y / Y 3 2 . 8 % 2 3 % Y / Y 3 4 . 3 % Asset Under Management 18% Y/Y H1FY26 H1FY27 H1FY26 H1FY27 E q u ity M F 1 , 5 6 8 1 5 % 2 7 % 5 3 % e p - 2 5 S P D e b t M 0 8 , 3 1 7 % 2 6 % 5 3 % e p - e r s Business Performance For Q2 & H1FY27 Consolidated Financial Highlights · Rs. Crores Equity Mutual Funds Total Net-Inflows Monthly SIP Inflows Net-Inflows 2 6 Q 2 7 Q 2 6 Q 6,825 6,928 4,769 4,045 H1FY26 H1FY27 H1FY26 H1FY27 Sep-25 Sep-26 Market Share – Equity Mutual Fund Category II Growth/Equity Oriented Schemes — AMFI Data Increasing net inflows market share and better mark-to-market (MTM) gain will leads to a rise in AUM market share. 9 I n d O W S M A R K E T C r ) M a r k h a r e AUM MARKET SHARE Period Industry (Cr) ARWL (Cr) Market Share Mar-19 8,04,856 8,098 1.01% Mar-25 29,45,306 40,781 1.38% Jun-26 36,12,941 55,636 1.54% Actuals Vs. Guidance — FY27 Actuals for H1FY27 & Guidance given for FY27 exclude fair value gains on investments, ESOP expenses, and related tax effects. n t ( A U M ) G i v i d a n f o r s . C , 4 1 5 4 6 0 0 , 0 0 Y 2 7 f o , 0 8 n c e Private Wealth Business Key Operational Highlights For Q2FY27 Asset Under Relationship Active Client Families AUM Per RM Client Per RM Management Managers (Nos.) (Rs. Cr) (Nos.) (Rs. Cr) (Nos.) 1,05,847 89,357 Sep-25 Sep-26 -2 5 S e -2 6 14,309 12,781 246 33 33 Sep-25 Sep-26 Sep-25 Sep-26 Sep-25 Sep-26 Three Important Stake Holders Lowest regret RM attrition in the industry Consistent incentive payout structure for last 19 years 1 Employees Great place to work for 8 years A robust capability-building program that delivered more than 12,000 person- hours in H1FY27. Portfolio returns of ~14%-15% with beta of 0.6 with Nifty leading to Jensen’s Alpha 2 of 4%-5% Clients Holistic wealth management solutions Consistent and market agnostic performance 3 Shareholders ROE of 40%+ Consistent dividend payments and buy-back Periodic issuance of bonus shares (in FY17, FY22, FY25 & FY27) Increasing Share of RMs Managing Higher AUM Bucket wise AUM of RMs Bucket wise AUM of RMs Regret RM Attrition* 137 158 77% 80% 9% 8% One of the lowest regret RM attrition in the industry No. of RMs AUM (%) No. of RMs AUM (%) Sep-25 Sep-26 *RM with AUM greater than Rs. 40 Crores Focused on More Rewarding HNI Segment Share in AUM 31.0% These were mostly HNIs when they were Rs. 50 Crores on-boarded and have subsequently (15.7%) & above elevated as UHNIs over a period Target Segment – slower and 49.6% Rs. 5-50 Crores difficult to build but more (51.3%) sustainable and scalable 19.4% Clients yet to allocate their Rs. 50 Lakhs- 5 Crores entire portfolio to us (33.0%) Our clients in the range of AUM between Rs.50 lakh to Rs.5 Crs. segment upgraded to above Rs.5 Crs. segment. This upward shift is due to an increase in the wallet share and portfolio returns. *Figures mentioned outside brackets refer to Sep 2026, while figures within brackets represent data of Sep 2021. P e r i p h e r a l S t r is k a d ju s s iv e n e s s & w e r r i s k t h E r r o r f r e e T a x a t i o n & E a s e o f t r ic a l s w if t r e t e d r e t u r n e r v ic e s N I F T Y p o r t in g a w y e r s s a c t i o n o n d i n g What Do Clients Seeks From Wealth Management Firms? 6,298 S URV E Y OF investor s Acr oss locations, age gr oups and r isk pr ofiles Top 3 PRI ORI TI ES Risk Adjusted Returns Lower Risk w.r.t. Nifty Client Servicing STRATEGI C ASSET ALLO C ATI O N Equity MF + Structured Product Performance of ARWL Strategy Performance of the Portf [Showing first 8,000 characters — download PDF for full document]