Analysts/Institutional Investor Meet/Con. Call Updates

October 29, 2026 The BSE Limited The National Stock Exchange of India Corporate Relationship Department. Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra-Kurla Complex. Mumbai - 400 001 Bandra (E), Mumbai - 400 051 SCRIP CODE: 543066 SYMBOL: SBICARD SECURITY: Equity Shares/Debentures SECURITY: Equity Shares Dear Sirs, Re: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript - SBI Card Q2'FY 27 Earnings Call In compliance with the provisions of Regulation 30 read with Schedule III Part A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, transcript of the Earnings Call held on October 23, 2026 with analysts/investors, has been made available on the website of the Company at the below mentioned link. Further, the same is also attached herewith for reference. https://www.sbicard.com/en/who-we-are/analyst-investor-meeting.page Kindly take the same on record. Thanking you, Yours faithfully, For SBI Cards and Payment Services Limited Payal Mittal Chhabra Chief Compliance Officer & Company Secretary Date & Time of event: - October 23, 2026 at 04:00 PM Encl:.aa SBI Cards and Payment Services Ltd. DLF Infinity Towers, Tower C, Tel.: 18001801290 Registered Office, 12th Floor, Block 2, Building 3, Email: customercare@sbicard.com Unit 401 & 402, 4th Floor, Aggarwal Millennium Tower, DLF Cyber City, Gurugram - 122002, Website: sbicard.com E 1,2,3, Netaji Subhash Place, Wazirpur, New Delhi - 110034 Haryana, India CIN - L65999DL1998PLC093849 O SBI Card “SBI Cards and Payment Services Limited Q2 FY27 Earnings Conference Call” October 23, 2026 OSBI Card MANAGEMENT: MS. SALILA PANDE – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. GIRISH BUDHIRAJA – CHIEF SALES AND MARKETING OFFICER MS. RASHMI MOHANTY – CHIEF FINANCIAL OFFICER MR. KRISHNA KANT BISHNOI – CHIEF RISK OFFICER Page 1 of 18 OSBI Card SBI Cards and Payment Services Limited October 23, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the SBI Cards and Payment Services Limited Q2 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Salila Pande, MD and CEO, SBI Cards. Thank you, and over to you, Ms. Pande. Salila Pande: Thank you, Swapnali. A very good afternoon to everyone who is present on the call today. Along with the management team of SBI Cards, I extend a warm welcome and sincere thanks for joining us for the Q2 FY27 Earnings Call. India's growth outlook remains resilient despite an uncertain global environment. As per RBI, real GDP growth for FY27 is projected to be 7.1%, up from 6.7% projected earlier, reflecting the strength of domestic economic activity. The International Monetary Fund has also recently raised India's economic growth forecast to 7% for both FY27 and FY28, citing resilient domestic demand and strong services activity. The upward revision reinforces India's position as the world's fastest-growing major economy despite rising global oil prices and persistent geopolitical tensions. Against this macroeconomic backdrop, the growing scale of digital transactions and increasing access to formal credit are contributing to the development of more integrated payments and credit ecosystem. Digital payments ecosystem continues to scale rapidly with UPI remaining at the centre of this expansion. UPI transaction volumes grew 27% Y-o-Y to approximately 145 billion transactions during the first half of FY27, underscoring the increasing frequency and ubiquity of digital payments in India. The credit card industry continues to maintain a healthy growth trajectory with cards in force increasing by around 10.5% Y-o-Y to over 124 million as of August 2026. Cumulative credit card spends for the first 5 months of FY27 stood at more than INR10 trillion, reflecting the growing scale of the credit card ecosystem. The industry continues to witness evolution, both in terms of customer demographics and usage patterns. As per the industry reports, credit card customer base is becoming younger and more diverse. Nearly half of the first-time credit card users are now aged 30 or below, while approximately 46% of the new users are coming from semi-urban, Tier 2, Tier 3 and rural markets. This reflects the growing democratization of credit and the expanding opportunity to serve customers beyond traditional metropolitan centres. As a customer-centric organization, SBI Card understands this and is well positioned to make the best of these opportunities. Our strategy is focused on building a more robust credit card business, leveraging differentiated products, strategic partnerships and digital capabilities as key growth levers. During Q2 of FY27, we continue to focus on building a healthy, sustainable and well-balanced portfolio while Page 2 of 18 OSBI Card SBI Cards and Payment Services Limited October 23, 2026 maintaining our priorities around profitable customer acquisition, customer engagement, operating efficiency and portfolio quality. During this quarter, we augmented our co-branded credit card portfolio with the launch of Google Pay Flex SBI Card. This credit card is designed to simplify and elevate the everyday payment experience, delivering a convenient blend of rewards, flexibility and security. We also launched the Advantage SBI Card on SBI YONO to offer a seamless digital journey that enables SBI customers to avail a secured credit card backed by a fixed deposit. We continue to roll out customer-centric national and regional offers with many revered brands, including Amazon, Flipkart, Myntra, Air India, Bosch, LG, Sony, HP, among others. We continued the long-term strategic partnership with Apple for instant discount across different Apple products, including the newly launched iPhone 18 Pro. We continue to strengthen our AI capabilities across customer engagement, sales and employee productivity. We are happy to share that CII National Artificial Intelligence (AI) awarded our hyper- personalization program under the innovative category. Coming to the business performance, our robust business model, disciplined portfolio management and prudent risk management has enabled us to deliver strong results. Let me share the key metrics. Cards in Force have grown to around 2 Crore32 lakhs with 8% growth Y-o-Y. In line with our guidance, we added more than 1 million new accounts during the quarter, witnessing 18% increase Y-o-Y. The net card addition for FY27 till August is at 8.6 lakhs new cards, which is highest in the industry. We will continue to maintain quarterly run rate of more than 1 million new accounts during the year. Our new account sourcing distribution remains balanced with about 49% sourcing from Banca and 51% from open market this quarter. SBI Card continues to be India's second largest credit card issuer with Cards in Force market share at 18.5%. As regards spends, as per RBI August 2026 data, our spends market share has grown to 19% in FY27. Totals spend during the quarter reached INR1,10,689 crores with a growth of around 3% year-over-year. Retail spends reached the highest ever level of INR95,299 crores with a 6% growth Y-o-Y. This is despite the festive sales being in Q3 this year and there being a seasonality impact on the Q2 spend. We have seen robust growth across most POS and online spend categories. Online spends contributed 62.8% of the total retail spend in the first half year of financial year, witnessing strong growth across discretionary categories. Key categories include consumer durables, furnishing and hardware, apparel, restaurants and jewellery, among others. Corporate sp [Showing first 8,000 characters — download PDF for full document]