Investor Presentation

13th October 2026 BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Wing, Exchange Plaza, 5th Floor, Rotunda Building, P.J. Towers, Plot No. C/1, G-Block, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 001 Mumbai – 400 051 BSE Scrip Code: 544597 NSE Symbol: PIRAMALFIN Sub.: Intimation of Investor Presentation under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) Dear Sir/Madam, Further to our intimation dated 8th October 2026 and pursuant to SEBI Listing Regulations, please find enclosed herewith the investor presentation to be made to the investors at the Debt Investors Roadshow (NDR) to be held on 14th October 2026. The same is also available on the website of the Company at www.piramalfinance.com. Request you to please take the above on record. Thanking you. Yours faithfully, For Piramal Finance Limited (Formerly known as Piramal Capital & Housing Finance Limited) Bipin Singh Company Secretary Encl.: As above Piramal Finance Bank Presentation - Tokyo Roadshow 14th October 2026 Today’s Presenters Jairam Sridharan Lalit Ostwal Sanjay Jain Managing Director & CEO Head - Group Treasury Head - Group Borrowing & Fundraising Table of Contents 1 Corporate Overview 2 Business Overview A Growth Business I Retail Lending II Wholesale 2.0 Legacy (Discontinued) Business 3 Profitability 4 Liabilities Management 5 Financial Summary 6 Key Credit Highlights 7 Q & A Appendix Corporate Overview The Piramal Finance Story Illustrative examples A growing diversified lending business being built by a credible management team and backed by a solid promoter group 1 Strong promoter group with demonstrated ability to raise equity and debt across market cycles Management team with track record brought on board to scale the platform across businesses verticals 3 Successfully transitioned to a retail led business growing with High Tech + High Touch approach 4 Building a granular, diversified and profitable Wholesale 2.0 book 5 Significantly de-risked business with Legacy AUM now <3% of total AUM 6 Well capitalized and liquid balance sheet primed for future growth › 100 Years ago, Piramal > 1920s Chaturbhuj arrived in Bombay & built a thriving cotton trade business > 1935 › Acquired India’s oldest cotton mill, Morarjee Mills, taking a step beyond cotton trading › His son Gopikisan Piramal > 1970 expanded the legacy by acquiring VIP Industries & Miranda Tools in 1970s > 1984 › In 1984, at just 34, Ajay Piramal took charge of the group. Amid a strike that crippled the textile industry, Ajay Piramal pivoted the Group away from textiles. › Entered the glass manufacturing space by acquiring Gujarat Glass > 1988 › Entered the pharma space by acquiring Nicholas Laboratories > 1999 › Acquired Ceylon Glass Company, Sri Lanka Last 20 years journey of Piramal Group New businesses and corporate actions Fund raises, investments & exits › Piramal Realty launched its two > 2006 › Launched Piramal Foundation, > 2016 signature projects - Piramal › Announced merger of Piramal Group’s philanthropic arm Aranya, and forays into > 2024 Enterprises with its subsidiary commercial real estate with Piramal Finance > 2010 › Sold domestic formulations Piramal Agastya business to Abbott for $3.8 Bn › Raised US$815 Mn from global > 2025 2017 > › Raised ₹180 Bn through equity debt capital markets -2020 > 2011 raises and asset sale › Entered Financial Services by › Merger of PEL with PFL acquiring Indiareit › Piramal Foundation partnered completed > 2019 › Invested ₹59 Bn in Vodafone with Gates Foundation and > 2026 › Inaugural $350Mn DFI funding (₹89 Bn exit in 2014) Rockefeller Foundation › Piramal Pharma announces › Crisil , CARE & ICRA assigned > 2020 completion of 20% strategic AA+ to long term debt > 2012 › Established Piramal Realty growth investment by Carlyle › S&P upgrades long term to BB › Moody’s upgrades long term to › Commenced NBFC operations › Sold global glass packaging Ba2 business, Piramal Glass to › Japan Credit Rating (JCR) & › Acquired DRG (Healthcare Blackstone for ~$1 Bn (R&I) assigns “BBB, Stable” to analytics business) for $650 Mn long term debt (~$1 Bn exit in 2020) › DHFL acquisition for ₹ 343 Bn > 2021 consideration, 1st financial › $221 Mn raised through QIP & > 2013 › Invested 46 Bn in Shriram services company to get proposed $184 Mn preferential -2014 group of companies resolved through IBC allotment of warrants to the promoter group. › Piramal pharma demerged > 2022 › PEL received its NBFC License 2006 - 2015 2016 - 2023 2024 - 2026 “Established 40+ year legacy in India; All Piramal Group: At a Glance businesses operating independently with no cross holdings or intercompany transactions” Listed Companies Ajay Piramal Group Privately Held Companies Real Estate c. 46% c. 35% (1) Piramal Realty A design led, delivery focused real estate company, with an aim to enrich lives by setting gold standards forcustomer-centricity, architectural design, quality & safety Promoter owned private entity Delivered India's 2nd tallest residential Partnership with leading global firms tower, reaching a height of 282+ HOK, CallisonRTKL, HBA, Conran & Partners meters London, Super Potato Japan, L&T Construction, Financial services Pharma Hafeez Contractor among others across in construction, design, & interiors Piramal Finance Piramal Pharma ~12+ Mn sq. ft of residential & 21 towers & 4,200+ units delivered commercial real estate in Mumbai across projects, another 3000 homes A leading, listed, diversified NBFC, with Offers a portfolio of differentiated products (MMR) under construction prominent presence across retail and and services through 17 global development & wholesale lending, alternatives and manufacturing facilities and a global insurance distribution network in over 100 countries Foundation Market Cap : c. USD 2.73 Bn (2) Market Cap : c. USD 5.04 Bn (2) Piramal Foundation Contract Development and | 15 sites Total AUM | USD 11.26 Bn (3) Manufacturing Organization Focus on improving lives of vulnerable Complex Hospital | 6k+ customers communities by strengthening Other assets Generics (Hospitals) Government & community systems Alternatives | ~$1.6 Bn Committed funds Piramal Consumer | ~180k+ customers Healthcare (Chemists & cosmetics shops) Not-for-profit organization Investments in Shriram | ~$144 Mn (4) Joint venture Impacted 143+ Mn lives across 49% stake in Abbvie Therapeutics Life insurance GWP | ~$248 Mn(5) 27 states in India Key partners (51% held by Abbvie) a leader in Ophthalmology Gates Foundation, NITI Aayog, Tata Steel formulations in the India Improving local SDG goals across Foundation, The Bridgespan Group, Emory 33.33% strategic investment in Yapan Bio University & Harvard among others 112 aspirational districts (6) a CDMO that specializes in Vaccines and Biologics Notes: (1) Carlyle holds 18% stake; (2) Market Cap as of 05th Oct 2026; (3) as of Q1FY26 (4) Book value as on the balance sheet (Mar 2026); (5) FY26 Gross Written Premium; (6) Most underdeveloped districts identified by GOI 7 Board with industry leaders having deep expertise in FS and Tech Illustrative examples Advisory Committee Anand Piramal Shikha Sharma Rajiv Mehrishi Anjali Bansal Executive Chairman Non-Executive Director Independent Director Independent Director Harvard Business School Former MD & CEO, Former Principal Finance Secy., Founder, University of Pennsylvania Axis bank GoI1 Avaana Capital Ajay G. Piramal Chairman – Piramal Group Jairam Sridharan Suhail Nathani Kunal Bahl Asheet Mehta MD & CEO Nitin Nohria Independent Director Independent Director Independent Director Former CFO and President Senior Advisor Managing Partner, Co-Founder & Former CEO, Former Senior Partner, (Retail Lending & Payments) ELP2 Snapdeal McKinsey & Company Former Dean, at Axis Bank Harvard Business School Strong management team on-board Illustrative examples Anand Piramal Executive Chairman Harvard Business [Showing first 8,000 characters — download PDF for full document]