Investor Presentation

mahinclra FINANCE Mahindra & Mahindra Financial Services Ltd. Mahindra Towers, 3rd Floor, Dr. G. M. Bhosale Marg, Worli, Mumbai - 400 018, India. Tel: +91 22 66526000 21st October 2026 BSE Limited (Scrip Code: 532720) National Stock Exchange of India Ltd. (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: Earnings Presentation for the second quarter ended 30th September 2026 - Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Ref: Our letter dated 13th October 2026 regarding earnings conference call In compliance with Regulation 30, Schedule III, Part A, Para A (15)(a) and other applicable provisions of the Listing Regulations, please find enclosed herewith an Earnings Presentation, to be made at earnings conference call scheduled to be held today i.e. on Wednesday, 21st October 2026 at 06:30 p.m. (IST) encompassing, inter-alia, an overview of the unaudited standalone and consolidated financial results of the Company for the second quarter and half year ended 30th September 2026 (subjected to limited review by the Joint Statutory Auditors of the Company), highlights of the quarter and business overview. Please note that no Unpublished Price Sensitive Information will be shared by the Company during the said earnings conference call. In compliance with Regulation 46(2)(o) of the Listing Regulations, the enclosed earnings presentation is also being uploaded on the Company’s website viz. https://www.mahindrafinance.com/investor- relations/financial-information#investor-presentation Kindly take the same on record. Thanking you, For Mahindra & Mahindra Financial Services Limited Brijbala Batwal Company Secretary FCS No.: 5220 Regd. office: Gateway Building, Apollo Bunder, Mumbai 400 001, India I Tel: +91 2268975500 Website: www.mahindrafinance.com I Email: company.secretary@mahindrafinance.com I CIN:L65921MH1991PLC059642 Mahindra & Mahindra Financial Services Limited Result Update Quarter ended Sep’26 (Q2FY27) Regd. Office: Corporate Office: Gateway Building, Apollo Bunder, Mahindra Towers, 3rd Floor, Mumbai-400 001, India Dr. G. M. Bhosale Marg, Worli, Tel: +91 22 6897 5500 Mumbai- 400 018, India Fax:+91 22 2287 5485 Tel: +91 22 66526023 www.mahindrafinance.com Email: INVESTOR.RELATIONS@mahindrafinance.com CIN - L65921MH1991PLC059642 mahindra FINANCE mahindra FINANCE Safe Harbor Certain statements in the Financial Results Update presentation describing the Company's objectives, and predictions may be ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India, volatility in interest rates, new regulations and Government policies that may impact the Company’s business as well as its ability to implement the strategy. The Company does not undertake to update these statements. Executive Summary Performance Highlights: Growth, Risk, Margins & Subsidiaries MMFSL Franchise Flywheel: How we win in Bharat Financial statement details: Standalone & Consolidated Other Company Information mahindra FINANCE Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Profitable & Disciplined Growth (1/2) / on standalone basis Continued step-up in Stable asset quality Pivoting to growth profitability Core Business disbursals 21% YoY^; PAT up 55% YoY; GS3 at 3.4% New Growth engines 38% YoY* ROA at 2.2% GS2+GS3 at 8.1% ^Includes Wheels, Gensets and Implements; *Includes SME, PL & Prime Housing disbursements All figures pertain to Q2FY27 Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Profitable & Disciplined Growth (2/2) on standalone basis Continued step-up in Stable asset quality Pivoting to growth profitability NIM* GS2+GS3 Disbursements 7.0% 8.1% ₹16,499 Cr v/s 7.0% in Q2FY26 v/s 9.7% in Q2FY26 22% YoY Growth Credit cost* AUM ₹882 Cr 1.6% ₹1,46,512 Cr v/s ₹569 Cr in Q2FY26, 55% YoY v/s 2.2% in Q2FY26 15% YoY Growth *% of Avg. Total Assets Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Consolidated financial services franchise gaining momentum on consolidated basis Total Lending AUM MRHFL ₹1,56,311 Cr ₹9,799 Cr 2.3% ₹35 Cr MMFSL + MRHFL AUM Loan Book GS-3 PAT 2.2x YoY Growth Wheels AUM MIBL Non-Wheels AUM* ₹1,272 Cr ₹488 Cr ₹49 Cr Net Premium Total Income PAT 80% 1.4x YoY Growth MMIMPL ₹38,140 Cr ₹41 Cr ₹11 Cr 21% 52% Avg AUM Total Income PAT Q2FY27 Wheels Disbursal Q2FY27 Non-Wheels YoY Growth Disbursal YoY Growth All figures pertain to Q2F27 *Includes Trade Advance and does not include MIFL & MFUSA, as they are overseas subsidiaries / JVs. Executive Summary Performance Highlights: Growth, Risk, Margins & Subsidiaries MMFSL Franchise Flywheel: How we win in Bharat Financial statement details: Standalone & Consolidated Other Company Information mahindra FINANCE Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Growth: Holistic momentum on standalone basis All figures in ₹ crore Product Wise Disbursals Q2 FY27 Q2 FY26 YoY H1 FY27 H1 FY26 YoY FY26 PV 6,826 (41%) 5,348 (40%) 28% 13,351 (42%) 10,602 (40%) 26% 24,614 (40%) Pre-Owned Vehicle 2,834 (17%) 2,473 (18%) 15% 5,360 (17%) 4,649 (18%) 15% 10,151 (17%) CV & CE 2,657 (16%) 2,293 (17%) 16% 4,948 (15%) 4,647 (18%) 6% 10,665 (17%) Tractor 1,979 (12%) 1,746 (13%) 13% 4,459 (14%) 3,457 (13%) 29% 8,732 (14%) 3-Wheeler 664 (4%) 503 (4%) 32% 1,203 (4%) 999 (4%) 20% 1,976 (3%) SME 831 (5%) 736 (5%) 13% 1,514 (5%) 1,260 (5%) 20% 3,057 (5%) Others* 708 (4%) 415 (3%) 71% 1,228 (4%) 709 (3%) 73% 1,922 (3%) Total 16,499 (100%) 13,514 (100%) 22% 32,063 (100%) 26,323 (100%) 22% 61,118 (100%) * Others include Personal Loans, Farm implements, Gensets and Prime Housing Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Stable Asset Quality and Credit Cost on standalone basis GS2 GS3 -7 bps - 17 bps +9 bps -3 bps 3.94% 5.85% 5.78% 3.85% 4.87% 4.70% 3.45% 3.42% Jun-25 Sep-25 Jun-26 Sep-26 Jun-25 Sep-25 Jun-26 Sep-26 Net GS-3 Credit Cost -2 bps +3 bps +23 bps 2.17% +5 bps 1.94% 1.91% 1.89% 1.48% 1.51% 1.50% 1.55% Jun-25 Sep-25 Jun-26 Sep-26 Q1FY26 Q2FY26 Q1FY27 Q2FY27 Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Reducing seasonal volatility across key risk metrics: H1’27 vs H1’26 on standalone basis GS2 GS3 +34 bps -6 bps +25 bps +1 bps 3.94% 5.78% 5.44% 3.69% 4.76% 4.70% 3.41% 3.42% Mar-25 Sep-25 Mar-26 Sep-26 Mar-25 Sep-25 Mar-26 Sep-26 Net GS-3 Credit Cost +5 bps +7 bps 2.05% -53 bps 1.84% 1.89% 1.44% 1.51% 1.52% Mar-25 Sep-25 Mar-26 Sep-26 H1 F26 H1 F27 Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE Risk: Prudent coverage and adequately capitalized on standalone basis Stage 3 - Coverage Ratio Capital Adequacy Liquidity Buffer 16,150 20.6% 14,650 58.1% 19.5% 56.6% 53.0% 18.5% 10,100 51.4% 8,550 18.0% (17.9%) (16.9%) (16.5%) (16.2%) (15.2%) (17.9%) (16.7%) (16.5%) Jun-25 Sep-25 Jun-26 Sep-26 Jun-25 Sep-25 Jun-26 Sep-26 Jun-25 Sep-25 Jun-26 Sep-26 (Tier I- %) (₹ Crore) Prudent Coverage Adequately capitalized Comfortable liquidity position Executive Summary Performance Highlights Franchise Flywheel Standalone & Consolidated Financials Other Info mahindra FINANCE ROA: Q2 at 2.2%, H1 at 2.3% / on standalone basis Particulars Q2FY27 Q1FY [Showing first 8,000 characters — download PDF for full document]