Earnings Release for the quarter and half year ended September 30, 2026.

October 26, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services, The Listing Department, Exchange Phiroze Jeejeebhoy Towers, Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai - 400 001 Mumbai-400 051 Scrip Code: 543396 Symbol: PAYTM Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Earnings Release Dear Sir/ Ma’am, In continuation to our earlier letter dated October 14, 2026, and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with applicable circulars issued in this regard from time to time, please find enclosed copy of Earnings Release for the quarter and half year ended September 30, 2026. The Earnings Release will also be hosted on the Company's website viz. https://ir.paytm.com/financial-results. Kindly take the same on record. Thanking you Yours Sincerely, For One 97 Communications Limited Sunil Kumar Bansal Company Secretary & Compliance Officer FCS: 4810 Encl:. as Above One 97 Communications Limited Corporate Office - One Skymark, Tower-D, Plot No. H-10B, Sector-98, Noida-201304 compliance.officer@paytm.com T: +91120 4770770 F: +91120 4770771 CIN: L72200DL2000PLC108985 www.paytm.com Registered Office - 136, First Floor, Devika Tower, Nehru Place, New Delhi-110019 Earnings Release Q2 FY 2027 Sustained Momentum. Expanded Monetisation. Powered by AI. Q2 FY 2027 · EARNINGS RELEASE 26 Oct 2026 EEaarrnniinnggss RReelleeaassee QQ22 FFYY 22002277 Q2 FY 2027 Revenue▲28% YoY EBITDA▲90% YoY Business model strength and AI adoption continue to accelerate revenue growth across Merchant and Consumer businesses, and improve cost efficiency. We are investing further in AI to unlock new growth and efficiency opportunities REVENUE EBITDA PROFIT AFTER TAX ₹2,648 Cr ₹270 Cr ₹225 Cr ▲28% YoY │ ▲8% QoQ ▲90% YoY │ ▲ 33% QoQ Performance on a comparable basis is stronger than reported YoY, excluding PIDF incentives in Q2 FY26 (received until December 2025). Details on Page 11 With a large addressable market, accelerating revenue growth and AI-led improvement in structural operating leverage, Paytm is delivering sustained revenue growth and margin expansion, which will continue to compound into Long-Term Profit Growth ▪ Growing merchant payments leadership: Driven by large underserved MSME market, market share gains, steady growth in device subscriptions and structural payment margin expansion ▪ Long growth runway in capital-light Merchant loan distribution business: AI across lifecycle: growing lendable base, low and increasing loan penetration, sharper insights and better collections. Combined with more lenders and loan products ▪ Expansion of Consumer monetisation: AI-led acquisition, retention and product innovation is growing our monetisable consumers and market share, and improving monetisation in key consumer businesses ▪ AI accelerating structural operating leverage: Revenue and Contribution Profit are growing faster than indirect expenses. AI applications across businesses are accelerating revenue growth and cost efficiencies UPI MDR will be a revenue and profit upside to our business, not the core foundation of our business Q2 FY 2027 = quarter ended 30 September 2026 | PIDF: Payments Infrastructure Development Fund 02 EEaarrnniinnggss RReelleeaassee QQ22 FFYY 22002277 Paytm’s Core Moat Paytm is Building Payments-led Financial Services Distribution and AI Diffusion Model Our business model is to acquire customers through payments and monetise through financial services and technology services. We do not depend on UPI MDR for profitable growth; any MDR on UPI would be an upside, not its foundation Paytm Business Model: One Customer Relationship, Unlocking Multiple Layers of Value Core Acquisition Model Mobile payments is our core acquisition engine; AI-led targeting and servicing 1 Payments-led deliver high-quality retention and monetisation. We focus on a monetisable Financial Inclusion customer base across consumers and merchants and not market share alone AI Diffusion (Emerging Opportunity) Monetisation Engine 4 AI Agents for Merchants 2 Enable Access to Credit to Grow Their Business Distribution of small ticket Every merchant gets what loans with AI-driven only big businesses could segmentation of lendable afford: a CFO to manage cash base and insights helps flow, invoicing, inventory and partner with improved payments and a CMO to bring portfolio performance in customers and grow sales Deepen Relationship (Emerging Opportunity) 3 Protect and Prosper through Helping customers grow their savings and protect their families Insurance and Wealth and businesses EEaarrnniinnggss RReelleeaassee QQ22 FFYY 22002277 Merchant Payments Compounding on Strength Built Over the Years Our merchant scale drives compounding growth, reflected in market share gains, structural payment margin expansion and steady growth in device subscriptions PAYMENT PROCESSING SUBSCRIPTION REVENUE NET PAYMENT REVENUE REVENUE Merchant GMV Merchant Subscriptions ₹644 Cr ▲26% YoY ▲27 Lakh YoY ₹7.1 L Cr 1.64 Cr ▲21% YoY │ ▲8% YoY Comparable*│ Reported >4bps Payment Processing Subscription Paying Merchants *excluding PIDF incentive Margin ▪ Soundbox is an indispensable operating system Deployed at 1.64 Cr storefronts. High merchant retention and engagement, and subsequent loan distribution are resulting in higher revenue per merchant ▪ Sustained market share gains Focus on monetisable merchants through investments in product, distribution and service. Industry GMV moderated sequentially as festive season falls in Q3 this year ▪ Structural improvement in Payment Processing Margin Growth in MDR-bearing instruments (credit cards on UPI, Paytm Postpaid), market share gains, and pricing discipline. This trend is expected to continue Using AI to Serve India’s Large MSME Market, Profitably MSMEs IN INDIA PEOPLE EMPLOYED CONTRIBUTION TO GDP ~8 Cr 30 Cr+ ~30% Source: MSME Annual Report FY 25 - 26 Over the past decade, Paytm has worked to change the economics of serving micro, small and medium enterprises through AI-powered technology in payments and financial services, allowing us to serve them profitably. Daily payment acceptance keeps merchants engaged with the platform, which in turn lets us distribute financial services and other technology services. As these merchants grow, they process more payments and take more services through Paytm, which reinforces the cycle. ₹1 Cr = ₹10 million; L Cr = Lakh Crore = ₹1 trillion equivalent scale unit used for GMV • MDR: Merchant Discount Rate, GMV: Gross Merchandise Value 04 EEaarrnniinnggss RReelleeaassee QQ22 FFYY 22002277 Consumer Payments and Monetisation Engines 6th Consecutive Quarter of Consumer Payment Market Share Gain Focus on monetisable user base leading to acceleration in revenue growth MONTHLY TRANSACTING USERS PAYTM vs INDUSTRY UPI GTV GROWTH 8.5 Cr 2.2x ▲1 Cr YoY, highest in ~3 years 42% Paytm growth vs 19% industry growth Source: NPCI Acceleration in Consumer Acquisition; Expansion in Monetisation Market share gains coming from better product, stronger acquisition and retention, and AI-led personalisation. We are investing further with focus on monetisable user base across consumer businesses Paytm Postpaid (Credit line on UPI) Equity Broking and Wealth Compounding well; meaningful revenue and Continue to see scale up in MTF book and EBITDA expected from FY 2028 onwards consistent market share gain in Paytm Gold Personal Loans Advertising MTU growth, better funnel conversion, and Customer cohorting and personalised campaigns scale-up in lending partners is driving higher are delivering higher ROI for advertisers and better disbursements; expect this trend to continue user experience MTU: Monthly Transacting Users, MTF: Margin Trade Funding, GTV: Gross Transaction Value EEaarrnniinnggss RReelleeaassee QQ22 FFYY 22002277 Distribution of Financial Services Accelerating Mon [Showing first 8,000 characters — download PDF for full document]