Press Release

October 29, 2026 BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumbai - 400001 Mumbai - 400051 Security Code: 532892 Symbol: MOTILALOFS Sub.: Press Release & Investor(s)/ Analyst(s) Presentation - Financial Performance for the quarter and half year ended September 30, 2026 Dear Sir/Madam, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (as amended from time to time), please find enclosed herewith the Press Release & Investor(s)/ Analyst(s) Presentation on the Financial Performance of the Company for the quarter and half year ended September 30, 2026. The said Press Release & Investor(s)/ Analyst(s) Presentation will be uploaded on the Company’s website at www.motilaloswal.com. Kindly take the same on record. Thanking you, Yours faithfully, For Motilal Oswal Financial Services Limited Kailash Purohit Company Secretary & Compliance Officer Encl.: As above PRESS RELEASE Motilal Oswal Financial Services reports 29% YoY growth in Operating PAT for Q2FY27, led by 69% growth in Asset Management Highest-ever half-yearly Total PAT of ₹2,583 Cr, up 51% YoY | Annual Recurring Revenue (ARR) share rises to 66% Mumbai, October 29, 2026: Motilal Oswal Financial Services Ltd. (MOFSL) today announced its results for the quarter and half year ended September 30, 2026. Operating PAT grew 29% YoY to ₹718 Cr in Q2FY27, led by strong growth in the Asset Management business. Total PAT for H1FY27, including Other Comprehensive Income, rose 51% YoY to ₹2,583 Cr, the highest-ever half-yearly profit in the Company's history. ARR assets grew to ₹3.2 Lakh Cr, up 26% YoY, and ARR revenue grew to ₹1,182Cr, up 27% YoY. Sequentially, every business segment delivered higher revenue and profitability, with net operating revenue up 14% and Operating PAT up 18% QoQ. During Q2, Motilal Oswal group secures custodian licence from SEBI, completes institutional services value chain. This approval places the group among a small set of institutions authorised to offer safekeeping of securities, trade settlement, corporate action processing, and regulatory reporting of institutional clients, including, alternative investment funds, portfolio management services, mutual funds, insurance companies and pension funds, amongst others. The company will commence operations in Q4FY27, subject to the completion of operational readiness requirements. Q2FY27 at a glance • Operating PAT ₹718 Cr, up 29% YoY and 18% QoQ; H1FY27 Operating PAT ₹1,327 Cr, up 22% YoY • Highest-ever half-yearly Total PAT ₹2,583 Cr, up 51% YoY (including OCI) • Asset Management PAT ₹304 Cr, up 69% YoY — now the largest contributor at 43% of Operating • ARR share of revenue rises to 66%, improving the quality and predictability of earnings • Credit rating AA+ / Stable from all three leading rating agencies following India Ratings' upgrade • Received approval from SEBI to act as a Custodian of Securities Segmental Operating PAT Particulars (₹ Cr) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY Asset & Private Wealth Mgmt. 416 290 43% 335 24% 751 520 44% Wealth Management 175 170 3% 161 8% 336 343 (2%) Capital Markets 85 89 (5%) 76 12% 161 191 (16%) Housing Finance 36 34 7% 32 12% 69 58 19% Operating PAT* 718 554 29% 609 18% 1,327 1,088 22% Total PAT (incl. OCI) 1,070 285 3.8x 1,513 (29%) 2,583 1,715 51% *After inter-company adjustments. YoY: year-on-year; QoQ: quarter-on-quarter. Note: The sequential moderation in Total PAT reflects lower mark-to-market gains on the treasury book compared with an exceptionally strong Q1FY27, while Operating PAT, which excludes treasury, grew 18% QoQ. Q2FY27 Business Highlights Asset Management (AMC & MO Alternates) • PAT up 69% YoY to ₹304 Cr; Asset Management is now the largest contributor, at 43% of Operating PAT. • Total AUM up 26% YoY to ~₹2.23 lakh Cr. Motilal Oswal Financial Services Ltd. | Q2 & H1FY27 Results | Page 1 • AMC (MF, PMS & AIF): AUM up 25% YoY to ~₹2 lakh Cr. Mutual Fund net flow market share was 4.0% for Q2FY27 and rose to 6.0% in September 2026, about twice our AUM market share of 2.7%. SIP inflows were ₹4,170 Cr, a 4.3% market share. • MO Alternates: Revenue up 92% YoY, driven by strong fund-raising, new alternate strategies and AUM growth of 36% YoY to ₹23,091 Cr. Private Wealth Management • AUM up 58% YoY to ~₹3 lakh Cr; ARR AUM up 28% YoY. • Revenue up 14% QoQ and net flows up 65% QoQ. • Lending book up 90% YoY to ₹7,333 Cr. Relationship Manager base up 15% YoY to 443. • PAT up 2% YoY, due to high base of Q2FY26 which grew 22% YoY. But 3 yr / 5 yr PAT CAGR is very robust at 25%/29%. H2FY27 should be much higher than H1FY27 Wealth Management • Overall ADTO market share rose to 7.9%; brokerage revenue up 11% YoY. Broking ARPU up 11% YoY. • Distribution AUM up 26% YoY to ₹47,912 Cr. • Loan book up 42% YoY to ₹10,197 Cr; Group Margin Trade Funding (MTF) book up 56% YoY to ₹9,600+ • PAT up 3% YoY. Headwinds due to several regulatory changes and flat markets over last 8 quarters are in the base and we expect growth to improve, going forward Capital Markets • Ranked among India's top 3 investment banks, and #1 in Qualified Institutional Placements (QIPs) for H1FY27. • Revenue up 31% QoQ; PAT up 12% QoQ. Housing Finance • Disbursements up 29% YoY to ₹701 Cr; AUM up 24% YoY to ₹6,476 Cr. • Net Interest Income (NII) up 14% YoY. • Asset quality: GNPA 1.5% and NNPA 0.9%. Treasury & Balance Sheet • Treasury book up 27% YoY to ₹11,346 Cr. It has compounded at 41% since inception, driven by strong IRRs and the reinvestment of operating profits. • India Ratings upgraded MOFSL's long-term rating to AA+ / Stable. MOFSL is now rated AA+ / Stable by CRISIL, India Rating and ICRA, reflecting the strength of the franchise and a business model built for sustainable growth across market cycles. Built for Compounding ARR now contributes 66% of revenue, and the rising share of the Asset and Private Wealth businesses is lifting the quality and predictability of earnings. Over the last 10 years, MOFSL has delivered 33% Operating PAT CAGR, 26% EPS CAGR and an average ROE of 23%, funded entirely through internal accruals with no equity dilution. Net worth compounded at 25% over the same period, after three buybacks and consistent dividend payouts. Management Commentary Commenting on the results, Mr. Motilal Oswal, MD & CEO, MOFSL, said: "Q2FY27 reflects the deliberate shift in our earnings mix. Asset Management is now our largest profit pool, and two-thirds of our revenue is recurring, which makes our earnings more resilient through market cycles. With AA+ ratings from all three agencies and a decade of growth funded entirely from internal accruals, we are well placed to deliver strong growth ahead." Motilal Oswal Financial Services Ltd. | Q2 & H1FY27 Results | Page 2 About Motilal Oswal Financial Services Ltd. Motilal Oswal Financial Services Limited (MOFSL) is the largest integrated capital market player in India, with strong and rising rankings across its businesses, each of which still offers a long growth runway. Rising wealth, to over USD 100 Tn, and the financialisation of savings are powerful tailwinds, and MOFSL is widening its presence by entering promising adjacencies in each of its businesses. For further details, please refer to the Investor Presentation [Click Here] or contact: Mr. Shalibhadra Shah Mr. Manish Kayal Mrs. Rohini Kute Group Chief Financial Officer Head – Corporate Planning & IR Head – Group Corporate shalibhadrashah@motilaloswal.com manish.kayal@motilaloswal.com Communication rohini.kute@motilaloswal.com +91 98201 96838 Motilal Oswal Financial Services Ltd. | Q2 & H1FY27 Results | Page 3 Motilal Oswal Financial Services Limited Investor Presentation Q2 & H1FY27 Largest Integrated Capital Market Player* Primed to Benefit From India’s Multi-Trillion Dollar Opportu [Showing first 8,000 characters — download PDF for full document]