Investor Presentation for the Quarter and Half Year ended September 30, 2026

MCSL/SEC/26-27/270 November 05, 2026 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers Limited Dalal Street, Exchange Plaza, C-1, Block G, Mumbai - 400 001, Maharashtra Bandra Kurla Complex, Bandra (E), Scrip Code - 511766 Mumbai - 400 051, Maharashtra Scrip Code (Debenture & CP) - 975282, Trading Symbol – MUTHOOTCAP 975513, 975662, 976146, 976183, 976213, 976233, 976363, 976458, 976806, 976898, 976933, 976965, 978079, 978198, 977164, 977929, 978321, 729732, 729733, 730251 and 732701 Dear Sir / Ma’am, Sub: Investor Presentation for the Quarter and Half Year ended September 30, 2026 Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the presentation to be made to the Investors at the Investors Conference Call scheduled to be held on Friday, November 06, 2026 at 12:30 p.m., to discuss the Unaudited Financial Results of the Company for the Quarter and Half Year ended September 30, 2026. This is for your kind information and record. Thanking You, Yours Faithfully, For Muthoot Capital Services Limited Deepa G Company Secretary and Compliance Officer Membership No.: A68790 Encl: As above Muthoot Capital Services Limited, Registered Office: 3rd Floor, Muthoot Towers, M. G. Road, Kochi - 682 035, Kerala P: +91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com CIN: L67120KL1994PLC007726 INVESTOR PRESENTATION Q2 - FY 26-27 Muthoot Capital Services Limited Its equity shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Muthoot Capital Services Ltd., promoted by the Muthoot Pappachan Group, is a Non- Banking Finance Established in 1994, it is Company (NBFC) recognized as one of registered with the India’s most progressive Reserve Bank automobile finance of India. companies. MCSL Products Retail Loans Two-Wheeler loans CV & CE loans Used Car loans Loyalty loans Other products Fixed Deposit Corporate loans 30 Year Journey 1994 Started Operations 500cr 1995 2008 2014 2016 Listed on BSE Entered the Two- AUM crosses AUM crosses Wheeler financing 500cr 1000cr segment 2022 2019 2019 2018 Rated CRISIL A+ AUM crosses Golden Peacock MCSL ranks 2000cr Award for Corporate among Top 50 NBFC Ethics across India 2024 2022 2023 2025 Best Vehicle Financer Started Co-Lending India’s Most Trusted AUM crosses of the Year Award - business Companies Award. 3000 Cr Lendtech International Brand Consulting Corp. Portfolio & Asset Quality AUM Growth — Retail and Other Loans H1 FY27 • Portfolio outstanding in ₹ Crore ₹ 3,086 Cr ₹ 61 Cr ₹ 382 Cr ₹ 3,530 Cr +25% YoY MCSL Retail Portfolio Corp Loan & Others Co-Lending Portfolio Total Portfolio Retail growth +4.5% QoQ • Incl. off-book +8% QoQ • MCSL retail +25% YoY • 87% of book +99% YoY • 2% of book −52% YoY • 11% of book DA book Portfolio Trend Quarterly (₹ Cr) MCSL Retail 3,086 2,822 2,851 3,085.72 2,696 2,465 +8% QoQ Co-Lending 382.43 −23% QoQ Corp & Others 31 20 26 28 61 61.41 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 +118% QoQ MCSL Retail Co-Lending Corp Loan & Others * Total AUM includes off-book DA of ₹ 81.58 Cr in Q1 FY 27 & ₹ 203.93 Cr in Q2 FY 27 Product wise Portfolio H1 FY27 • Portfolio outstanding in ₹ Crore ₹ 3,530 Cr 25% 4.81% 21.55% Total Portfolio (AUM) MCSL Retail Growth Co Lending Overall GNPA Portfolio Yield +4.5% YoY vs Last Year vs Last Year ↓ 165 bps YoY Stable Portfolio Outstanding by Product (₹ Cr) Product Q1 FY27 Q2 FY27 Change % Growth Share (H1) Two-Wheeler 2,336.64 2459.25 +122.61 +5.2% 69.68% Two-Wheeler (CL) 496.25 381.08 -115.17 -23.2% 10.80% Commercial Vehicle 271.02 341.25 +70.23 +25.9% 9.67% Used Car 178.77 214.07 +35.30 +19.7% 6.07% Loyalty Loans 56.00 56.04 +0.04 +0.10% 1.59% Three-Wheeler(CL) 3.11 1.35 -1.76 -56.6% 0.04% Construction Equipment 8.74 15.11 +6.37 +72.9% 0.43% Corp Loan & Others 28.16 61.41 +33.25 +118.1% 1.74% Total 3,378.69 3,529.56 150.87 +4.5% 100% * Total AUM includes off-book DA of ₹ 81.58 Cr in Q1 FY 27 & ₹ 203.93 Cr in Q2 FY 27 Geographic Distribution of Retail Portfolio H1 FY27 • Portfolio outstanding in ₹ Crore Total Retail AUM ₹ 3,468 Cr Overall GNPA 4.81% • 4 zones • 23 states • Q2 disbursement ₹ 649 Cr South India West India North India East India Partnerships Largest book Steady share Second largest Co Lending ₹ 1,305 Cr ₹ 408 Cr ₹ 763 Cr ₹ 610 Cr ₹ 382 Cr 38% share • GNPA 3.6% 12% share • GNPA 3.9% 22% share • GNPA 6.94% 18% share • GNPA 5% 11% share • GNPA 0.0% Zone Key States AUM (₹ Cr) Share GNPA Q2 Disb. (₹ Cr) H1 Disb. (₹ Cr) South KL 570.23 16.4% 1.6% 100 173 South KA, TN, TL,AP 734.19 21.1% 5.2% 162 289 West MH, GJ, Goa 407.94 12.0% 3.9% 103 174 North DL, HR, PB, RJ, UP, UK 763.76 22.0% 6.9% 150 297 East WB, OD, BH, JH, AS, MP 609.60 18.0% 5.0% 134 251 Partnerships 382.43 11.0% 0.0% 0 28 Total 3,468.15 100% 4.2% 649 1,212 GNPA & NNPA Trend — Overall and Retail Last 6 Quarters • Q1 FY25 to Q2 FY27 Overall Book (Including Off Book) Retail Segment (Including Off Book) GNPA % | NNPA % | Q2 FY27 GNPA % | NNPA % | Q2 FY27 6.51 6.48 6.43 6.84 5.81 6.46 6.45 5.76 4.24 4.61 3.64 3.68 4.07 3.92 3.39 3.48 3.64 3.07 2.7 2.7 2.75 2.39 2.37 1.97 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 GNPA % NNPA % GNPA % NNPA % GNPA ↓ 185 bps vs last year NNPA ↓ 32 bps GNPA ↓ 228 bps vs last year NNPA ↓ 100 bps Asset Quality and NPA Movement Sep-25 • Mar-26 • Jun-26 • Sep-26 ₹ Crore Gross NPA GNPA % NNPA % ARC sale & Write off PCR Retail Stage 3 ₹ 160.11 Cr 4.81% 4.61 % 2.85% ₹ 00.00 Cr 50% was ₹ 133.07 in Jun-26 3.94% in Jun-26 Including Off Book 2.36% in Jun-26 Was 119.83 Jun-26 quarter unchanged vs June-26 Parameters Sep-25 Mar-26 Jun-26 Sep-26 Gross NPAs — Opening POS 168.57 197.60 194.90 103.57 Add: Additions 42.17 33.28 39.41 41.06 Normalized, Repo sold and closed 16.16 19.85 9.68 11.74 Amount collected 3.45 3.78 1.24 1.95 Transfer of loans to ARC 0.00 0.00 119.83 0 Amount written off 0.00 12.35 0.00 0.00 Gross NPAs — Closing POS 191.13 194.90 103.57 130.94 Accrued interest in NPAs 20.80 22.48 10.83 13.52 Gross NPAs — Closing Retail 211.93 217.38 114.39 144.45 Gross NPAs — Corp & Others 0.14 15.71 15.68 15.66 Gross NPAs 212.07 233.10 130.07 160.11 GNPA % 6.46% 6.97% 3.94% 4.81% Net NPA 97.26 133.89 76.53 92.81 NNPA % 3.07% 4.12% 2.36% 2.85% Provision coverage ratio Retail S3 60.00% 50.00% 50.00% 50.00% Product-wise Disbursements — Retail Loans Q1 FY27 vs Q4 FY26 • ₹ Crore MCSL Disbursement Co-Lending Disbursement Combined Q2 Disbursement Combined H1 Disbursement ₹ 649 Cr ₹ 0 Cr ₹ 649 Cr ₹ 1,212 Cr +21% QoQ −100% QoQ vs Q1 FY27 ₹ 535 Cr vs Q1FY27 ₹ 28 Cr MCSL + Co-lending MCSL + Co-lending MCSL — Product-wise Co-Lenders Product Q1 FY27 Q2 FY27 Change % H1 FY 27 H1 Share Partner Q1 FY27 Q2 FY27 Change % H1 FY 27 H1 Share Two Wheeler 422.96 482.89 +59.93 +14% 905.85 76% Greaves Finance 28.13 0 -28.13 -100% 28.13 100% Manba Finance 0 0 0 0 0 0% Commercial Vehicle 58.94 95.58 +36.64 +62% 154.52 13% Credit Wise Capital 0 0 0 0 0 0% Construction Equipment 3.14 7.13 +3.99 +127% 10.27 1% Wheels EMI 0 0 0 0 0 0% Loyalty Loan 11.63 11.89 +0.26 +2% 23.52 2% Total 28.13 0 -28.13 -100% 28.13 100% Used Car 38.19 51.94 +13.75 +36% 90.13 8% Total 534.86 649.43 +114.57 +21% 1184.29 100% Retail Disbursement Trend and TW Blended Rate Quarterly Disbursement Trend 177.51 279.94 453.89 345.02 497.91 632.50 845.68 644.99 618.50 528.04 625.86 569.14 562.98 649.43 1 7.69% 10.49% 5.00% 0.00% 18.05% 16.08% 28.93% 28.56% 26.82% 0.8 41.70% 44.39% 40.27% 34.57% 57.95% 92.31% 89.51% 95.00% 100.00% 0.4 81.95% 83.92% 71.07% 71.44% 73.18% 65.43% 58.30% 55.61% 59.73% 0.2 42.05% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 Own Business Co-Lending Blended Portfolio Yield TW (%) - Last 13 Quarters 20 22.09 15 20.88 19.18 17.91 18.11 18.51 18.89 19.23 20.13 19.64 21.1 20.6 21.5 17.02 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2' [Showing first 8,000 characters — download PDF for full document]