Outcome of Board Meeting

21st July 2026 BSE Limited (Scrip Code: National Stock Exchange of India Ltd. (Symbol: 532720) M&MFIN) Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, "G" Block, Dalal Street, Fort, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 001. Mumbai - 400 051. Dear Sir/Madam, Sub: Outcome of the meeting of the Board of Directors held on 21st July 2026 Further to our letter dated 30thJune 2026, and in compliance with Regulations 30, 33, 51, 52 and 54 read with Schedule III and other applicable provisions, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform you that the Board of Directors of Mahindra & Mahindra Financial Services Limited (“the Company”), at their meeting held today viz. Tuesday, 21st July 2026, have, inter-alia, approved the unaudited standalone and consolidated financial results for the first quarter ended 30th June 2026 (Q1 FY 2027) . Please find enclosed the following documents in connection with the above: 1. Unaudited standalone and consolidated financial results for the first quarter ended 30th June 2026 along with unmodified/ clean Limited Review Report thereon, issued by the Joint Statutory Auditors of the Company viz. M/s. M M Nissim & Co. LLP, Chartered Accountants and M/s. M. P. Chitale & Co., Chartered Accountants; 2. Extract of the newspaper publication of the unaudited standalone and consolidated financial results for the first quarter ended 30th June 2026, in the prescribed format, to be published in the print and electronic editions of the newspapers (containing a Quick Response code and the details of the webpage where the results can be accessed). Please note that the Board Meeting held on 21st July 2026 commenced at 12:40 p.m. (IST) and concluded at 02:30 p.m. (IST). This intimation is also being uploaded on the Company’s website at https://www.mahindrafinance.com/investor- relations/financial-information#outcome-of-board-meeting We request you to kindly take the same on record. Thanking you, For Mahindra & Mahindra Financial Services Limited Brijbala Batwal Company Secretary FCS: 5220 Enclosure: as above M M NISSIM & CO LLP M. P. Chitale & Co. Chartered Accountants Chartered Accountants Barodawala Mansion, 1st Floor, Hamam House, B-wing, 3rd Floor, 81 Ambalal Doshi Marg, Dr. Annie Besant Road Fort, Mumbai - 400 001 Worli, Mumbai - 400 018 Independent Auditor's Review Report on the Unaudited Standalone Quarterly Financial Results for the quarter ended June 30, 2026, pursuant to Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 (2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 The Board of Directors of Mahindra & Mahindra Financial Services Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Mahindra & Mahindra Financial Services Limited ("the NBFC"), for the quarter ended June 30, 2026 ("the Statement") attached herewith, being submitted by the NBFC pursuant to the requirements of Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 (2) of the Securities and Exchange Board of India ("SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). 2. The Statement, which is the responsibility of the NBFC's Management and approved by the Board of Directors of the NBFC, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 'Interim Financial Reporting' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 ("the Act") as amended read with relevant rules issued thereunder and the circulars, guidelines and directions issued by Reserve Bank of India ("RBI") from time to time, applicable to the NBFC ("RBI guidelines") and other accounting principles generally accepted in India and in compliance with the presentation and disclosure requirement under Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 (2) of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India ("ICAI"). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of the NBFC's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all %oc -At FRN : 1 MUMBAI 107122 cn W1006 M M NISSIM & CO LLP M. P. Chitale & Co. Chartered Accountants Chartered Accountants significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34, prescribed under Section 133 of the Act, as amended read with relevant rules issued thereunder, the RBI guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 (2) of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by RBI in respect of income recognition, asset classification, provisioning, to the extent applicable to the NBFC, and other related matters. For M M NISSIM & CO LLP For M. P. Chitale & Co. Chartered Accountants Chartered Accountants Firm Regn. No. 107122W/ W100672 Firm Regn. No.101851W \ss1M & e se FRN MUMBAI z 107122W I W100672 MUMBAI Shrenik Katariya Shraddha Jathar Partner RED ACC Partner Membership No.: 142251 Membership No.: 136908 UDIN: 26142251YFIMOR8921 UDIN: 26136908HUTDJL6868 Place: Mumbai Place: Mumbai Date: July 21, 2026 Date: July 21, 2026 Mahindra & Mahindra Financial Services Limited CIN : L65921MH1991PLC059642 Registered Office: Gateway Building, Apollo Bunder, Mumbai 400 001. Tel. No. +91 22 68975500 Corporate Office: Mahindra Towers, 3rd Floor, Dr. G.M. Bhosale Marg, Worli, Mumbai 400 018. Tel. No. +91 22 66526000 Website : www.mahindrafinance.com : Email : company.secretary©mahindrafinance.com STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 Rs. in Crore Quarter ended Year ended Particulars June 30 March 31 June 30 March 31 2026 2026 2025 2026 (Audited) (Unaudited) (Unaudited) (Audited) Refer note 3 Revenue from operations i) Interest income 4,620.87 4,462.06 4,164.59 17,211.69 ii) Dividend income 63.92 30.93 46.39 177.32 iii) Rental income 48.13 49.58 38.67 174.86 iv) Fees, charges and commission income 223.24 249.91 159.97 854.39 v) Net gain / (loss) on fair value changes 15.96 7.48 9.75 27.33 I Total Revenue from operations 4,972.12 4,799.96 4,419.37 18,445.59 II Other income 1.83 10.11 18.38 54.69 III Total income (1+11) 4,973.95 4,810.07 4,437.75 18,500.28 Expenses i) Finance costs 2,208.11 2,070.73 2,152.41 8,392.05 ii) Fees and commission expense 21.14 31.74 29.13 139.87 iii) Impairment on financial instruments (refer notes 6 and 7) 569.71 560.29 659.67 2,441.22 iv) Employee benefits expenses 559.69 519.76 523.17 2,054 [Showing first 8,000 characters — download PDF for full document]