As per the disclosure attached

October 27, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street Bandra (East) Mumbai – 400 021 Mumbai – 400 051 Scrip Code: 500271 Symbol: MFSL Sub.: Outcome of Board meeting - Approval of unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2026 Dear Sir / Madam, Please refer to our letter dated September 25, 2026, on the above subject. In this regard, we wish to inform you that the Board of Directors of the Company, in its meeting held earlier today, has inter-alia considered and approved the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2026. The said financial results and the Limited Review Report given by the Statutory Auditors for the aforesaid period are attached herewith. Further, in terms of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of the Company, which has been closed effective October 1, 2026 (as informed vide our earlier letter dated September 25, 2026), shall remain closed till 48 hours after declaration of unaudited financial results for the quarter and half year ended September 30, 2026 i.e. till October 29, 2026. The Board meeting commenced at 1730 hrs and concluded at 1800 hrs today. You are kindly requested to take note of the above on record and arrange to disseminate the information to the public. Yours faithfully, For Max Financial Services Limited Siddhi Suneja Company Secretary & Compliance Officer Encl: as above MAX FINANCIAL SERVICES LIMITED CIN: L24223HR1988PLC145368 Corporate Office: L20M(21), Max Towers, Plot No. C-001/A/1, Sector-16B, Noida- 201301 P: + 91 120 4696000 I E-mail: investorhelpline@maxfinancialservices.in I Website: www.maxfinancialservices.com Regd. Office: Plot No. 90-C, Sector-18, Urban Estate, Gurugram, Haryana-122015 12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai -400 028, India Tel: +91 22 6819 8000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Max Financial Services Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Max Financial Services Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Name of the Entity Relationship Axis Max Life Insurance Limited (formerly known as “Max Life Subsidiary Insurance Company Limited”) (“AMLI") Max Financial Employees Welfare Trust (“MFEWT”) Controlled Trust 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and the certificate of the appointed actuary referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of: One Controlled Trust, whose interim financial results and other financial information reflect total assets of Rs 172.29 crores as at September 30, 2026, and total revenues of Rs 2.94 crores and Rs 6.02 crores, total net loss after tax of Rs. 0.04 crores and Rs. 0.07 crores, total comprehensive loss of Rs. 0.04 crores and Rs. 0.07 crores, for the quarter ended September 30, 2026 and the period ended on that date respectively and net cash inflows of Rs. 0.18 crores for the period from April 01, 2026 to September 30, 2026. The unaudited interim financial results and other unaudited financial information of the Max Financial Employee Welfare Trust have not been reviewed by any auditor and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of this subsidiary, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group. 7. In respect of AMLI, subsidiary company, determination of the following as at and for the period ended September 30, 2026, is the responsibility of the subsidiary company's Appointed Actuary. a. The actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at September 30, 2026, is the responsibility of the subsidiary company's Appointed Actuary (the "Appointed Actuary"). The actuarial valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at September 30, 2026, has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the Insurance Regulatory and Development Authority of India (the "IRDAI") and the Institute of Actuaries of India in concurrence with the IRDAI; and b. [Showing first 8,000 characters — download PDF for full document]