Investor Presentation

16th July 2026 BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Wing, Exchange Plaza, 5th Floor, Rotunda Building, P.J. Towers, Plot No. C/1, G-Block, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai- 400 001 Mumbai – 400 051 BSE Scrip Code: 544597 NSE Symbol: PIRAMALFIN Sub.: Investor Presentation - Unaudited Financial Results (Standalone & Consolidated) for the quarter ended 30th June 2026 Dear Sir / Madam, Further to our intimation made earlier with regard to Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended 30th June 2026 (‘Financial Results’), please find enclosed herewith the Investor Presentation on the Financial Results. The above information is also available on the website of the Company at www.piramalfinance.com. Request you to please take the above on record. Thanking you. Yours faithfully, For Piramal Finance Limited (Formerly known as Piramal Capital & Housing Finance Limited) Bipin Singh Company Secretary Encl.: As above Piramal Finance Limited Results Presentation Q1 FY27 16 July 2026 Table of contents A Our blueprint for value creation 03 B Q1 FY27 Results Summary 08 C Retail lending 13 D Wholesale lending 29 Launched today F Financials 34 Our AI-powered investor relations agent Pia (Piramal Investor Assistant) Appendix 41 Access Pia: https://www.piramalfinance.com/investors Note: Historical information for Q1 FY26 and before is presented as previously disclosed and pertains to Piramal Enterprises before the merger with Piramal Finance in September 2025. Our blueprint for value creation 1 2 3 G P P rowth rofitability redictability 2x AUM in ~3 years RoAUM >3% Stable Risk Steady Earnings Build a future-proof, AI-native company Long range goals as disclosed in August 2023 1 Our Growth AUM are scaling up at 32% YoY Total AUM, YoY growth Growth AUM*, YoY growth Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY25 FY26 FY27 Note: (*) Growth AUM include Retail and Wholesale AUM and exclude the discontinued Legacy business, Growth AUM are now 98% of total AUM. 2 Profitability – progressing against the long-range goals FY25 FY26 FY27 3.25% 3.00% 2.75% 2.5% 2.50% 2.25% 2.1% 2.00% 1.8% 1.8% 1.75% 1.6% 1.5% 1.50% 1.7% 1.25% 1.00% 1.1% 1.1% 1.0% 0.75% 0.50% 0.25% 0.00% Q1 Q2 Q3 Q4 5 .0 4 .5 4 .0 3 .5 3 .0 2 .5 2 .0 F Y 2 4 F Y 2 F Y 2 6 1. Growth business RoAUM 2. AUM-to-equity Excluding POCI recovery related profits Long range goal* Long range goal* Q4 FY27 target as disclosed at end-FY26 (^) 1.9% including POCI# recovery related profits Note: (*) Long range goals as disclosed in August 2023; (#) POCI (purchased or originated credit impaired) recoveries represent recoveries from the acquired stressed retail book from DHFL 3 Predictability – Profits growing steadily with stable risk 8 ,1 - 1 ,5 F Y 2 F Y 2 Stable consol profits in last 10 quarters Consol. PAT, in ₹ Cr. Steady risk 90+ DPD in Retail % % 1.1 1.1 % 7 .0 % 7 .0 % 8 .0 % 7 .0 % 6 .0 % 6 % 6 .0 % 7 .0 % 8 .0 % 8 .0 8 .0 % 8 .0 % 8 .0 % 6 .0 % 7 .0 .0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 Wholesale Stage 2+3 assets <0.2% 4 Piramal.ai – Use of Gen-AI has grown more than 5x in the last year 1. Underwrite Better 2. Drive Growth Vintage Risk (30+ at 6MOB) - retail Consistent retail disbursement growth YoY % # Bn X-axis represents quarter of origination 3. Improve CX 4. Enhance Productivity 5. Build More Customer complaints in retail Disb. per branch Disb. per employee (Per 1,000 customers) Trailing 12 months, ₹ Cr 2.8 2.8 2.6 2.5 87 2.9 71 2.5 57% of overall code 0.4 0.3 0.3 0.4 0.4 0.4 0.3 0.3 now written by AI 3 3 4 4 4 4 5 5 5 5 6 6 6 6 7 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y F F F F F F F F F F F F F F F 3 Q 4 Q 1Q 2 Q 3 Q 4 Q 1Q 2 Q 3 Q 4 Q 1Q 2 Q 3 Q 4 Q 1Q Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 7 1 8 ,3 F Y 2 3 2 ,9 F Y 2 4 3 ,2 F Y 2 Impact of AI across five key business areas Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 %6.2 %1.2 F Y 2 %4.2 %9.1 %9.1 %6.1 F Y 2 %6.1 %4.1 %6.1 %6.1 F Y 2 %5.1 %1.1 %2.1 Token volume Total SLM and LLM token usage Q1 FY27 Results Summary Q1 FY27 Summary – Continued momentum on AUM and profit growth Growth AUM up 32% YoY PAT up 67% YoY 1.9% Growth book RoAUM 1 AUM ₹1,06,940 Cr, up 25% YoY | Retail AUM ₹91,249 Cr, up 32% YoY m 2 NIM 6.5%, up 47bps YoY and stable QoQ | COB 8.8%, stable QoQ s 3 Retail opex-to-AUM 3.5%, continues to decline – down 66bps YoY | Company cost-to-income 52.5%, vs 65.6% in Q1 FY26 4 Stable asset quality: GNPA 2.4% (vs 2.8% in Q1 FY26) and stable Growth business credit cost 1.6% 5 PAT ₹461 Cr, up 67% YoY | RoAUM 1.9% (Growth business), vs 1.5% in Q1 FY26 6 AUM/E 3.7x | Average LCR 553% | Cash & equivalents ₹ 6,925 Cr (6% of assets) Business Snapshot Notes: (*) Pro forma business P&L 2 6 % 3 1 % o u s in g lo a n s o a n a g a in s t p r o p e r t y (L s e d c a r lo a n s a la r ie d p e r s o n a l lo a n s n s e c u r e d b u s in e s s lo a n u r a l m ic r o lo a n s ig it a l lo a n s t h e r r e t a il o r p o r a t e m id m a r k e t lo e a l e s t a t e e g a c y ( ~ 2 % o f t o t a l A U M s ( C M M L ) ₹1,06,940 Cr up 25% YoY / 6% QoQ 85 : 15 Retail : Wholesale 4 AUM mix 2 AUM mix Jun-26 y 80 : 20 in Jun-25 r S e s Q1 FY27 la s t lu s e PAT ₹461 Cr e lo h W 7 up 67% YoY Q1 FY27 ₹28,906 Cr PBT* ₹470 Cr Net worth Growth business Debt to equity: 2.8x up 59% YoY Q1 FY27 ₹82,345 Cr RoAUM* 1.9% Borrowings Growth business up 20% YoY up 33bps YoY Our retail scale-up (along with declining opex and controlled risk) is among the fastest ones in industry 1 We are one of the fastest among retail NBFCs* to grow 2 …while reducing our opex-to-AUM by ~300 bps over last 13 AUM from ₹20k Cr to ₹90k Cr… quarters, and… AUM ₹ k Cr 70 Long range goal 25 bps reduction in Opex guidance 3 …keeping a tight control on retail 90+ DPD 1 Piramal Finance in ~4 yrs 20 2 NBFC A in ~5 yrs 3 NBFC B in ~8 yrs 1.1% 1.1% 10 4 NBFC C in ~9 yrs 0.7% 0.7% 0.8% 0.7% 0.6% 0.6% 0.6% 0.7% 0.8% 0.8% 0.8% 0.8% 0.8% 0.6% 0.7% Y0 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Years FY23 FY24 FY25 FY26 FY27 Source : Company data (*) 6 peers across Diversified and Vehicle financiers 6 .7 56 .5 06 .2 56 .0 05 .7 55 .5 05 .2 55 .0 04 .7 54 .5 04 .2 54 .0 03 .7 53 .5 03 .2 53 .0 0 %%%%%%%%%%%%%%%% 6 5 .8 5 .8 5 .5 5 .3 4 .9 4 .7 4 .5 4 .3 % 4 .2 3 .9 3 .8 3 .6 3 .5 % Q 1 Q 2 F Y 2 3 Q 4 Retail Growth business profitability Ratios on AUM2 1 Total income 13.5% 13.4% 13.3% 13.4% 13.1% 4 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 4 Opex & PPOP 5 Credit cost 6 RoAUM3 Notes: (1) Pro forma business P&L; (2) AUM = Loans (on-book) + off-book assets; (3) RoAUM = PAT / Avg. AUM; (4) Q1FY27 value as % of loans would be 14.3% (int. inc. of 13.4% + retail fee of 0.9%). 6 .9 Y 2 6 Q Y 2 6 Q Y 2 6 Q Y 2 6 Q 6 .8 Y 2 7 2 Interest expense 3 Net income margin 2.1% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 1.9% 1.9% % 1.7% 1.6% 9 .3 % 6 .3 % 5 .3 % 4 .3 % 3 .3 % % 3 .3 % 5 .3 % 7 .3 % 5 .3 1.4% 1.6% 1.5% 1.5% 1.7% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Opex PPOP %16.6 %84.6 o F (a s %14.6 % A U %93.6 %62.6 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 % % % % % 3 5 5 4 0 1.9 9 .8 9 .8 8 .8 8 .8 s t CoB (as % of debt) 4 Retail lending Q1 FY27 Snapshot – Retail Lending ₹ 91,249 Cr 780 607 26 AUM Presence 32% YoY Branch network Cities States ₹ 61,199 Cr 3.5% Mortgages AUM Opex to AUM (HL+LAP) 30% YoY | 67% of retail AUM ~300 bps in three years 13.6% 0.7% AUM yield 90+ DPD Steady QoQ Stable portfolio over four years (excl. fee income) Retail AUM up 32% YoY, disbursements up 44% YoY Note: (*) Others includes gold loans (₹ 6 Cr as of Q1 FY27), loan against mutual fund (LAMF) (₹ 1,514 Cr as of Q1 FY27), SRs (₹ 1,274 Cr as of Q1 FY27) & pass-through certificates (PTC) (₹ 84 Cr as of Q1 FY27) 3 2 ,1 4 6 %9 2 2 % 5 2 % F Y 2 3 4 7 ,9 2 4 %8 2 2 % 4 6 % F Y 2 4 6 4 ,6 4 %4 2 7 % 4 1 % F Y 2 8 5 ,8 5 %2 3 0 [Showing first 8,000 characters — download PDF for full document]