Star Health and Allied Insurance Company Limited has informed the exchange regarding Investor Presentation for the quarter and half year ended September 30,2026.

Date: October 27, 2026 Place: Chennai Ref: SHAI/B & S/SE/136/2026-27 To, To, The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Tower, Exchange Plaza, 5th Floor, Plot C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai – 400051, Mumbai – 400001, Maharashtra, India. Maharashtra, India. Scrip Code: 543412 Symbol: STARHEALTH Dear Sir/ Madam, Sub: Earnings Call Presentation- Q2 & HI FY 2027 Further to our letter SHAI/B & S/SE/130/2026-27 dated October 16, 2026 regarding intimation of Q2 & HI FY 2027 Earnings Call, please find enclosed the presentation on performance of the Company to be made to the Investors and Analysts on Wednesday, October 28, 2026 at 8.30 A.M. IST for the quarter and half year ended September 30, 2026. The above information is also being hosted on the Company's website at www.starhealth.in. Kindly take the same on record. For Star Health and Allied Insurance Company Limited Jayashree Sethuraman Company Secretary & Compliance Officer Encl.: As above INVESTOR PRESENTATION H1 FY27 Executive Summary: H1 FY27 Strategic Priorities Key Measures 9,562 Cr 1,630 Cr Sustainable Growth Granular retail distribution built on Proprietary Channels Gross Written Premium Retail Fresh GWP(1) (Agency and Digital D2C) (Reported; 1/N Basis) (Reported; 1/N basis) +19% YoY +36% YoY 97.9% 210 Cr Core Underwriting Profitability Disciplined Portfolio Management across risk lifecycle CISR(2) Underwriting Result(3) H1FY26: 100.3% H1FY26: (24) Cr Customer Centricity 102% 65 Digital-first approach with technology-led engagement Persistency(4) Company NPS across consumer touchpoints H1FY26: 98% H1FY26: 61 (1) Retail Fresh GWP denotes Retail Health; (2) CISR (Combined Insurance Service Ratio) is defined as (Insurance Service Expenses + Net expenses from Reinsurance Contracts + Other expenses net of Other Income) divided by Insurance Revenue; (3) Underwriting Result is defined as Insurance Service Result plus Other Income net of (Insurance Finance Income/Expenses plus Other expenses); (4) Persistency measured on Premium-basis Contents Financial Performance Business landscape Capabilities & other updates Financial Performance Snapshot FY25 FY26 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 Combined Insurance Service Ratio (CISR) 101.0% 98.9% 100.9% 98.0% 100.3% 97.9% Underwriting Result (₹ Cr) -151 198 -40 99 -24 210 Investment Income (₹ Cr) 1,260 1,091 165 268 752 911 Investment Yield (Annualised) 7.6% 5.8% 3.6% 4.9% 8.3% 8.5% Profit After Tax (PAT) (₹ Cr) 787 911 80 265 518 815 Return On Equity (ROE; Annualised) 9.5% 10.0% 3.5% 10.3% 11.6% 16.3% Normalised PAT (₹ Cr) 840 1,222 229 390 496 775 Normalised ROE (Annualised) 10.1% 13.1% 10.1% 14.9% 11.2% 15.1% March 31, March 31, September September 2025 2026 30, 2025 30, 2026 Shareholder Net worth (₹ Cr) 8,667 9,578 9,191 10,436 Normalised Profit After Tax corresponds to PAT at normalised portfolio yield of 8% Progress on Key Business Metrics Gross Premium Trajectory on growth and profitability measures (Reported; 1/N basis) Figures in ₹Cr 18,606 16,716 15,254 5,968 3,476 3,597 4,287 4,337 4,417 5,275 3,790 4,624 5,113 FY24 FY25 FY26 Q1 Q2 Q3 Q4 Underwriting Result Figures in ₹Cr 362 Legend: 198 FY25 111 99 34 16 39 65 FY26 FY27 FY24 FY25 FY26 Q1 Q2 Q3 Q4 -151 -40 -74 -176 Normalised PAT Figures in ₹Cr 386 390 1,222 1,034 840 250 267 229 307 313 FY24 FY25 FY26 Q1 Q2 Q3 Q4 Normalised Profit After Tax corresponds to PAT at normalised investment portfolio yield of 8% Financials: P&L Figures in ₹ Crores Particulars Index FY25 FY26 YoY Q2 FY26Q2 FY27 YoY H1 FY26H1 FY27 YoY Insurance Revenue (A) 15,840 17,832 13% 4,396 5,074 15% 8,641 9,930 15% Insurance Service Expenses (B=i+ii) 14,841 16,464 11% 4,155 4,666 12% 8,117 9,119 12% Claims (i) 11,134 12,274 10% 3,143 3,499 11% 6,115 6,817 11% Acquisition Cost (ii) 3,707 4,189 13% 1,012 1,168 15% 2,003 2,302 15% Net expenses from reinsurance contracts (C) 128 132 3% 45 24 -46% 82 42 -48% Insurance Service Result (D=A-B-C) 872 1,236 42% 196 383 95% 441 769 74% Investment Income (E) 1,260 1,091 -13% 165 268 62% 752 911 21% Insurance Finance (Income)/Expenses (IFC) (F) - - - - - - - - - Net Finance Result (G=E-F) 1,260 1,091 -13% 165 268 62% 752 911 21% Other income (H) 8 0 -106% 1 6 364% 2 14 706% Other expenses (I) 1,030 1,037 1% 237 290 22% 467 573 23% Other finance costs(1) (J) 55 55 0% 14 15 10% 28 28 0% Other Income/Expenses (net) (K=H-I-J) -1,077 -1,092 1% -250 -299 20% -493 -587 19% Profit/(Loss) before tax (L=D+G+K) 1,054 1,234 17% 112 352 215% 700 1,093 56% Profit/(Loss) for the period (M) 787 911 16% 80 265 233% 518 815 57% Loss Ratio (N=i/A) 70.3% 68.8% 71.5% 69.0% 70.8% 68.6% Expense Ratio (O=(ii+C+I-H)/A) 30.7% 30.1% 29.4% 29.1% 29.5% 29.2% Combined Insurance Service Ratio (CISR) (P=N+O) 101.0% 98.9% 100.9% 98.0% 100.3% 97.9% Underwriting Result (Q=D-F-I+H) -151 198 -40 99 -24 210 Combined Ratio (R=1-Q/A) 101.0% 98.9% 100.9% 98.0% 100.3% 97.9% (1) Note: Closed sub-debt of 400 Crores; balance of 70 Crores to be done by November’26 ROE & its constituents H1 FY26 H1 FY27 Pre-tax ROE Normalised Pre-tax ROE Normalised Post-tax ROE Post-tax ROE 15.7% Post-tax ROE 21.9% Post-tax ROE 11.6% 16.3% 11.2% 15.1% (Annualised) (Annualised) (Annualised) (Annualised) (Annualised) (Annualised) Underwriting Investment Underwriting Investment Underwriting ROE Investment ROE Underwriting ROE Investment ROE -0.5% 16.2% 4.2% 17.7% Underwriting -0.3% Investment 8.3% 8% Underwriting 2.1% Investment 8.5% 8% Margin yield Margin yield U Len vd ee rr aw gr eiting 1.94x I len vv ee rs atm geent 1.97x U Len vd ee rr aw gr eiting 1.98x I len vv ee rs atm geent 2.10x At normalised At normalised investment yield investment yield of 8% of 8% ROE= PAT/ Average Net worth | Investment Leverage= Avg daily AUM (net of Sub-Debt) by Avg. Net worth | UW Leverage= Insurance Revenue by Avg. Net worth | UW Margin= 1-CoR | Investment ROE is net of finance cost Investment Performance Total Investment Assets Investment Income Investment Yield ₹ Cr ₹ Cr (Annualised) 22,491 19,031 7.6% 18,222 15,411 911 8.3% 8.5% 3,620 4,269 SEP 30, 2025 SEP 30, 2026 H1FY26 H1FY27 H1FY26 H1FY27 Fixed Income Equities & others Investment income includes MTM gain of 170 Cr for H1 FY26 Investment Yield: Investment Income divided by and MTM gain of 229 Cr for H1 FY27 Average AUM during the period Investment leverage 1.97x 2.10x BUSINESS LANDSCAPE Building a compounding distribution moat • Largest agency-led health distribution network built over two decades • Fast-growing Digital D2C extending proprietary capabilities online • Conscious risk-selection combining reach and portfolio quality Distribution Moat compounding with scale Granular Distribution Scaling D2C Play Largest Agency force among SAHIs with Profitable, fast-growing proprietary channel; 8.7 Lakh agents; 39K agent additions in H1FY27 largest among insurers in retail health space Compounding Scale Engine First-time Buyer Engine Deep pan-India Footprint New-to-insurance mix: 93% of fresh business Non-metro geographies contributing 65%+ fresh in H1 FY27 (H1 FY26: 90%) business with significantly higher growth momentum Sustainable Profitable Growth enabled by Disciplined Portfolio Management across risk lifecycle MARKET SELECTION PORTFOLIO MANAGEMENT Deliberate prioritisation of preferred products, Continuous segment-level surveillance with customer segments & geographies pro-active recalibration, wherever required Proprietary channel advantage with acquisition Risk-adjusted pricing discipline driven by and retention of such segments evolving claims experience SUSTAINABLE PROFITABLE GROWTH SOPHISTICATED DATA, ANALYTICS & UNDERWRITING ACTUARIAL DEPTH Dynamic rule engine for Structural information moat with 20 years of risk identification & early detection experience & in-house claims management Calibrated risk-acceptance framework AI-ML-powered analytical models and based on granular claims ex [Showing first 8,000 characters — download PDF for full document]