The Board of Directors at its Meeting held on October 29, 2026 approved the issuance of Non-Convertible Debentures ("NCDs") not exceeding Rs. 3000,00,00,000/- (Rupees Three Thousand Crore Only) by way of Public Issue/Private Placement in one or more series/tranches.

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.: Outcome of the Board Meeting Dear Sir/Madam, Pursuant to the provisions of Regulation 30, 33 & 52 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (as amended from time to time), we hereby inform the Exchanges that the Board of Directors (“the Board”) of the Company at its Meeting held on Thursday, October 29, 2026 has, inter-alia, considered and approved the following matters: 1) Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter and half year ended September 30, 2026. Following documents are enclosed in this regard: i. The Unaudited Financial Results (Consolidated and Standalone) along with the Limited Review Reports issued by the Statutory Auditors for the quarter and half year ended September 30, 2026. ii. The disclosure of line items required under SEBI Master Circular dated July 11, 2025 (as amended from time to time) in respect of Commercial Papers and pursuant to the provisions of Regulation 52(4) of the Listing Regulations with regard to Non-Convertible Debt Securities (“NCDs”) are included in the Standalone Financial Results of the Company. iii. The Statement of utilization of issue proceeds and Statement of deviation / variation in use of issue proceeds of NCDs from the objects mentioned in the offer documents pursuant to the provisions of Regulation 52(7) & 52(7A) of the Listing Regulations, for the quarter ended September 30, 2026, is enclosed herewith as Annexure A. iv. The details of Security Cover are included in the Standalone Financial Results pursuant to the provisions of Regulation 54(3) of the Listing Regulations. All NCDs issued by the Company and remaining outstanding are fully secured. Further, the Company has maintained Security Cover as per the terms & conditions of the Offer Documents for the quarter ended September 30, 2026. 2) Designation of Mr. Janak Dalal, Managing Director & Chief Executive Officer of Motilal Oswal Custodial Services Private Limited as Senior Management Personnel (“SMP”) of the Company w.e.f. October 29, 2026. The requisite details of Mr. Dalal in terms of the SEBI Master Circular dated January 30, 2026 are provided in Annexure B. 3) Issuance of Non-Convertible Debentures (“NCDs") not exceeding Rs. 3000,00,00,000/- (Rupees Three Thousand Crore Only) by way of Public Issue/Private Placement in one or more series/tranches. 4) Press Release on the Financial Performance of the Company for the quarter and half year ended September 30, 2026. 5) Presentation to be made to Investor(s)/Analyst(s) at Earning Conference Call on Friday, October 30, 2026 to discuss Q2/H1 FY 2026-27 Financial Performance of the Company. The Board Meeting commenced at 02:45 p.m. and concluded at 04:45 p.m. We request you to take the above on record. Thanking you, Yours faithfully, For Motilal Oswal Financial Services Limited Kailash Purohit Company Secretary & Compliance Officer Encl.: As above Annexure B Designation of Mr. Janak Dalal as Senior Management Personnel (“SMP”): Particulars Information 1. Name of SMP Mr. Janak Dalal 2. Reason for change Based on the recommendation of the Nomination and (appointment/ Remuneration Committee (“NRC”), the Board has approved cessation) the designation of Mr. Janak Dalal, Managing Director & Chief Executive Officer of Motilal Oswal Custodial Services Private Limited as Senior Management Personnel (“SMP”) of the Company. 3. Date of appointment/ Designated as SMP w.e.f. October 29, 2026 on the terms & cessation and term of conditions as recommended by the NRC and approved by the appointment Board, from time to time. 4. Brief profile: Mr. Janak Dalal holds an MBA in Finance from the University of Hartford, Connecticut, USA, and has nearly three decades of global experience in custody, corporate banking, prime brokerage and investment banking. Prior to joining the aforesaid subsidiary, he was associated with Deutsche Bank for over 18 years, where he held various positions. In his last role, he was responsible for the Securities Services (Custody) business of Deutsche Bank in India and Sri Lanka. He led a team servicing domestic clients including mutual funds, alternative investment funds, public sector undertakings and portfolio management services, as well as international clients including foreign portfolio investors, foreign direct investors and global custodians. Prior to Deutsche Bank, Mr. Dalal held positions with reputed organisations, including SS&C Fund Services and American Skandia (Prudential Annuities) in Connecticut, USA. 5. Disclosure of Not applicable relationships between Directors (in case of appointment of a Director) 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 [Showing first 8,000 characters — download PDF for full document]