Press Release

04th November 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No. C/1, G Dalal Street Block Bandra, Kurla Complex, Bandra Mumbai 400001 (East) Mumbai 400051 Scrip Code – 511742 Symbol – UGROCAP Subject: Press Release – “UGRO Capital’s Social Impact Study: Building an inclusive credit ecosystem for India’s MSMEs” Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Press Release issued by the Company dated 04th November 2026, titled “UGRO Capital’s Social Impact Study: Building an inclusive credit ecosystem for India’s MSMEs” This is for your information and records. The aforesaid information is being made available on the Company's website at www.ugrocapital.com Thanking You, For UGRO Capital Limited Shilpa Bhatter Chief Financial Officer Encl: a/a UGRO CAPITAL LIMITED Registered Office Address: B-17, Fourth Floor, Art Guild House, Phoenix Market City, Kurla (West), Mumbai- 400070 CIN: L67120MH1993PLC070739 Telephone: +91 22 68269100 I E-mail: info@ugrocapital.com I Website: www.ugrocapital.com PRESS RELEASE UGRO CAPITAL'S SOCIAL IMPACT STUDY: BUILDING AN INCLUSIVE CREDIT ECOSYSTEM FOR INDIA'S MSMEs 70% of borrowers are first-generation entrepreneurs, while 83% of women accessed formal credit for the first time through UGRO. Its Value Creation Model, benchmarked against OECD Guidelines and IRIS+, sets the foundation for enhanced impact measurement. INDEPENDENT STUDY WITH IMPACTREE AFFIRMS UGRO'S ROLE IN DEEPENING FINANCIAL INCLUSION ACROSS INDIA'S MSMEs Key Highlights • Inclusion: 70% of borrowers are first-generation entrepreneurs; 42% had little or no prior access to formal credit • Women's Access: 83% of women borrowers accessed formal credit for the first time, vs 39% of men • Business Impact: 58% of borrowers reported revenue growth post loan; only 3% reported a decline • Reach: 3,21,000+ borrowers served through 317 branches across 13 states (Mar’26) • Employment: 16% of businesses hired additional employees after their loan Mumbai, 4th November, 2026: UGRO Capital Limited (“UGRO”), a DataTech NBFC focused on MSME lending, today released its Social Impact Study for FY2025-26, an independent assessment conducted with Impactree, covering more than 63,000 borrowers through portfolio data and over 300 through structured surveys. The study finds that UGRO's credit creates measurable value well beyond the balance sheet: every INR 1 invested generates approximately INR 2.17 in social and economic value, as measured through the Company's Social Return on Investment (SROI) framework. Widening Financial Inclusion ● 70% of surveyed borrowers are first-generation entrepreneurs, with no family history of formal enterprise ● 42% had little or no prior access to institutional credit before their UGRO loan ● 83% of women borrowers accessed formal credit for the first time through UGRO, against 39% of men, with 71% reporting greater financial independence ● 317 branches across 13 states: UGRO's Emerging Market network extends formal finance deep into Tier 2 and Tier 3 towns historically outside the reach of institutional lenders Positive Business and Community Outcomes ● 58% of borrowers reported a revenue increase after their UGRO loan, with only 3% reporting a decline ● 87% of borrowers who used their loan to acquire a business asset reported revenue growth ● 16% of businesses hired additional employees following their loan UGRO CAPITAL LIMITED Registered Office Address: Unit No. B-17, 4th Floor, Art Guild House, Phoenix Market City Mall, LBS Marg, Kurla (W), Mumbai - 400070 CIN: L67120MH1993PLC070739 I Telephone: 022 41821600 I E-m ail: info@ugrocapital.com I Website: www.ugrocapital.com ● Across sectors, borrowers reported meaningful gains in formalisation and digital adoption Management Commentary Commenting on the release of the study, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “This Impact Study confirms what we have believed since UGRO's founding: that credit, designed around a business's real needs, can change its trajectory and the lives of those who depend on it. Nearly 70% of our borrowers are building their first formal enterprise, and for most of our women borrowers, a UGRO loan was their first relationship with a regulated financial institution. That is inclusion in its truest sense, and an SROI of 2.17 tells us we are creating more than double that in social and economic value for every rupee deployed, reinforcing our mission to Solve the Unsolved.” Looking Ahead: Deepening the Impact Journey This study marks the first phase of a broader, multi-year impact measurement journey for UGRO. Methodologically, the assessment draws on UGRO's own portfolio data alongside borrower surveys, interviews and focus group discussions, and its SROI and SDG frameworks are benchmarked against the OECD Guidelines for Responsible Business Conduct and IRIS+, the Global Impact Investing Network's catalogue of standardised impact metrics, lending the findings an independent, internationally recognised frame of reference rather than a self- reported scorecard. Building on this foundation, UGRO plans to widen its borrower survey base in FY2026-27, introduce a stakeholder- wise impact framework spanning MSME borrowers, women entrepreneurs and underserved-geography borrowers, and move from an annual assessment toward a continuous impact dashboard. The Company's stated priority for the year ahead is to deepen its existing reach, strengthening relationships within its current Emerging Market branches and GROx partnerships, before expanding into new geographies, so that the depth of impact keeps pace with the breadth of its footprint. Taken together, the findings reaffirm UGRO's underlying conviction, that formal, well-designed credit does not merely fund a transaction; it gives an entrepreneur the confidence and the means to build something lasting. The full Social Impact Study, covering sector-wise findings, state-wise outcomes and UGRO's alignment with the UN Sustainable Development Goals, was prepared in partnership with Impactree and is available at www.ugrocapital.com. About UGRO Capital Ltd (NSE: UGROCAP | BSE: 511742) UGRO Capital is India’s MSME DataTech lending platform, listed in July 2018 as India’s first listed NBFC startup. The Company addresses the ₹30 lakh crore MSME credit gap through 317 Emerging Market branches across 13 states, the GROx embedded merchant finance platform and GRO Score 3.0 AI/ML underwriting. GROx delivers credit to MSMEs at the point of business need through partnerships with PhonePe, Paytm, BharatPe and other platforms. UGRO is backed by marquee institutional investors, with over ₹2,400 crore raised since inception. www.ugrocapital.com Contact Details UGRO Capital Ritu Prakash Singh E: ritu.singh@ugrocapital.com M: +91 9818669651 UGRO CAPITAL LIMITED Registered Office Address: Unit No. B-17, 4th Floor, Art Guild House, Phoenix Market City Mall, LBS Marg, Kurla (W), Mumbai - 400070 CIN: L67120MH1993PLC070739 I Telephone: 022 41821600 I E-m ail: info@ugrocapital.com I Website: www.ugrocapital.com CTHaAbPleT EoRf 1 Contents Message from Founder and Managing Director 1 About UGRO Capital: Organization Overview 01 2 Project Overview & Impact Assessment 15 Framework 3 Executive Summary & Key Highlights 37 4 Impact Themes, Product Innovation & Sector 47 Excellence 5 Analytics & Data Insights 52 6 Success Stories: Case Studies & 59 Testimonials 7 Social Return on Investment (SROI) 75 8 Impact Quantification & Framework 79 Alignment 9 Future Outlook: 2026-27 & Beyond 81 10 Conclusion & Call to Action 83 11 Sector-Specific Excellence 87 MESSAGE FROM FOUNDER AND MANAGING DIRECTOR UGRO SOCIAL IMPACT FY25-26 Shachindra Nath Founder and Managing Director, UGRO Capital Limited Credit is meaningful only when it creates the possibility of something better. 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