Analysts/Institutional Investor Meet/Con. Call Updates

October 21, 2026 The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Tower, Exchange Plaza, 5th Floor, Plot C/1, G Block, Dalal Street, Bandra - Kurla Complex, Bandra (E), Mumbai 400 001. Mumbai 400 051. BSE Scrip Code: 542772 NSE Symbol: 360ONE Dear Sir / Madam, Subject: Transcript of earnings call This is further to our intimation dated October 7, 2026, informing the exchanges regarding the details of the earnings call scheduled on Thursday, October 15, 2026, at 5:30 p.m. (IST) to discuss the Company's performance for the quarter and half year ended September 30, 2026. Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the earnings call held on Thursday, October 15, 2026. We wish to confirm that no unpublished price sensitive information was shared / discussed in the aforesaid earnings call. The said transcript shall also be made available on the website of the Company at https://ir.360.one/investor-relations/. We request you to kindly take the above information on record. Thanking you. Yours faithfully, For 360 ONE WAM LIMITED Rohit Bhase Company Secretary (ACS: 21409) Encl.: As above 360 ONE WAM LIMITED Corporate & Registered Office: 360 ONE Centre, Kamala City, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013 Tel (91-22) 4876 5100 Fax (91-22) 4341 1895 Email secretarial@360.one www.360.one CIN: L74140MH2008PLC177884 360 ONE WAM Earnings Call - Q2 FY27  Mr. Anil Mascarenhas - Sr. EVP, Communications, 360 ONE WAM:  Good evening, ladies and gentlemen, and welcome to 360 ONE WAM's earnings call for Q2 FY27. As a reminder, all participant lines will be in listen-only mode. In case you wish to ask a question or require assistance during the call, kindly signal the host by tapping on the raised hand icon. Please note, this conference is being recorded.  On the call today, we have with us Mr. Karan Bhagat, MD and CEO, Mr. Yatin Shah, CEO of the Wealth Business, Mr. Anshuman Maheshwary, CEO of 360 ONE Alternates, and Mr. Sanjay Wadhwa, our CFO. I now hand it over to Mr. Sanjay Wadhwa to take this call forward.  Mr. Sanjay Wadhwa - Chief Financial Officer, 360 ONE WAM Limited:  Thank you, Anil. A very good evening to all the participants.  Starting with the macros, Q2 was a quarter of two halves for Indian equities. Benchmark indices stayed under pressure through the quarter, weighed down by persistent FPI selling, global rate concerns, and geopolitical uncertainty. At the same time, domestic flows and primary markets were remarkably resilient. Monthly SIP flows touched a record of ₹32,500 crores in September, and close to 70 companies raised ₹90,500 crores through IPOs during the quarter, including the landmark listing of NSE. We continue to believe that the long-term tailwinds clearly outweigh the near-term concerns. Let me call out four of them:  First, wealth creation in India. The UHNI segment continues to grow at 13 - 15%, and monetization events such as IPOs, block deals, stake sales, keep releasing liquidity to promoters and families.  Second, the financialization of savings. SIPs, the newly launched SIF category, and democratization of AIFs are steadily expanding the investable pool.  Third, the shift to professional wealth management. Clients increasingly want transparent, fee-based advice, and a growing number of family offices want curated access to opportunities.  And fourth, global connectivity. Resident Indians want to invest globally, global institutions are refocusing on India, and Gift City is opening new opportunities in asset management and broking.  We remain mindful of the near-term challenges, including market volatility, competition, evolving regulation, and pressure on costs. Our response is to stay the course, give the right advice to our clients, while running the business in our shareholders' interest.  Now, coming to our performance for the quarter, total AUMs stood at about ₹9 lakh crores, up 31% year-on-year. ARR AUMs stood at ₹3,53,000 crores, up 19.7% year-on- year, and ARR net flows of ₹12,482 crores during the quarter, compared to ₹10,815 crores in Q1. Clients with more than ₹10 crores of AUM are over ₹4,100 and account for 95% of our ex-custody wealth AUM.  Revenue from operations was ₹896 crores, up 17.5% year-on-year. ARR revenue grew 27.5% y-o-y to ₹706 crores. ARR now contributes 79% of operating revenues, and ARR retention improved to 79 basis points from 74 basis points in Q1, driven by higher carry income for the quarter. Excluding carry income, the ARR retentions remained stable at 67 basis points. During Q2, carried interest from third-party funds contributed approximately ₹60 crores. Transaction and brokerage income was ₹190 crores, down 9.1% year-on-year. Other income was negative ₹44 crores this quarter, primarily on account of mark-to-market impact on our treasury investments. As a result, total revenue was ₹853 crores, up 4.8% year-on-year.  Total costs were ₹462 crores, up 15.5% year-on-year. Employee costs were ₹342 crores, up 19.9%, and include a one-time impact of about ₹9 crores from restructuring of one of our businesses. Admin and other costs were ₹120 crores, up 4.6%. Our cost- to-operating income ratio improved to 51.5% from ₹54.3 in Q1.  Operating PBT grew 19.7% year-on-year to ₹434 crores. Given the lower other income, PBT was ₹391 crores and PAT was ₹302 crores, against ₹316 crores in Q2 FY26. Tangible ROE stood at 16.9%. The board approved a second interim dividend of 7.5 per share.  The wealth business saw a strong quarter, backed by strong flows and higher retentions. ARR AUM grew 24.3% year-on-year to ₹2,52,627 crores. 360 ONE Plus, our advisory platform, has now crossed ₹1 lakh crores. The quarter saw net flows of ₹10,990 crores that were broad-based across engagement models. New client additions and deeper wallet share with existing clients contributed towards the flow. ARR revenue grew 40.5% year-on-year to ₹503 crores. Retention improved to 79 basis points from 71 basis points in Q1. Operating PBT grew 30.2% year-on-year to ₹326 crores. The UHNI franchise remains the firm's anchor with unchanged priorities, grow share of wallet, widen our reach beyond the metros, and be the first call for families after a liquidity event. That last point matters more than ever, given record IPO and monetization activity over the last few years. More clients are moving to portfolio-level advisory mandates, which make relationships deeper and stickier. The HNI business continues to scale as a natural extension of UHNI. It now manages over ₹8,000 crores at healthy retentions for over 1,500 clients and about 60 relationship managers. With productivity improving and a growing feeder pipeline into UHNI, we expect the business to break even on direct costs soon. With the business reset behind us, ET money is now built for profitable growth. Its base of 5.5 lakh plus active users is being taken towards a full lifecycle digital wealth platform. Clients will choose upfront between distribution and subscription-based advisory, and AI-assisted advice will extend into affluent segments. The distribution segment of the business clocked ARR AUM of over ₹700 crores over the last nine months. The expected synergies from 360 ONE capital are now visible. Large IP mandates drew meaningful revenue accretion alongside an active block deal calendar. With strong ECM pipeline and expansion in research coverage, the franchise is gaining scale and building a more durable revenue base. Our collaboration with UBS continues to progress across bidirectional client reference, cross-platform product access, and exchange of best practices.  In the asset management segment, ARR AUM stood at a little over ₹100,000 crores, up 9.4% year-on-year. Net flows improved to ₹1,492 crores after the large SMA redemptions in Q1. ARR revenue was ₹203 c [Showing first 8,000 characters — download PDF for full document]