Investor Presentation for the quarter ended 30th June 2026

4th August 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: Investor Presentation for the quarter ended 30th June 2026 Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith investor presentation for the quarter ended 30th June 2026. 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 Satish Kumar Company Secretary and Compliance 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 49194400 I E-mail: info@ugrocapital.com I Website: www.ugrocapital.com UGRO Capital Limited Building an Institution for MSME Lending Data Tech Empowering Small Businesses (MSME) Lending Investor Presentation (Q1’FY27) August 2026 NSE: UGROCAP | BSE: 511742 Safe Harbor This presentation has been prepared by UGRO Capital Limited (the “Company”) solely for your information. By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation is for information purposes only and should not be deemed to constitute or form part of any offer or invitation or inducement to sell or issue any securities, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied upon in connection with, any contract or commitment therefor. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. However, the Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes The financial information in this presentation may have been reclassified and reformatted for the purposes of this presentation. You may also refer to the financial statements of the Company available at www.ugrocapital.com before making any decision on the basis of this information. Certain statements contained in this presentation that are not statements of historical fact constitute forward- looking statements. These forward- looking statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company presently believes to be reasonable in light of its operating experience in recent years, but these assumptions may prove to be incorrect. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. This presentation and its contents are for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person and should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. Q1’FY27 reflection PCPL Merger Reduction of Co-lending/DA income Cost rationalization complete Stock exchange approval for PCPL Income from Co-lending and DA Execution of cost rationalization merger received in Q1’FY27. declined from INR 154.6 Cr in due to strategic realignment is Application for NCLT approval has Q4’FY26 to INR 74.9 Cr in Q1’FY27 complete. The Opex for Q1’FY27 been filed while maintaining similar PBT levels declined by ~INR 87 Cr compared to Q4’FY26 Steady increase in EM AUM Significant growth in GROx AUM Strong liquidity buffer EM AUM increased from INR 3,581 “MyShubhLife” rebranded as GROx. Strong liquidity buffer with cash Cr at Mar’26 to INR 3,896 Cr at The AUM of GROx increased from and cash equivalents of INR 1,864 Jun’26. Blended branch productivity INR 2,280 Cr as at Mar’26 to INR Cr as of Jun’26 at INR 0.62 Cr in Q1’FY27 compared 3,003 Cr as at Jun’26. 60,000+ to INR 0.48 Cr in FY26 loans disbursed every month Recap of Strategic Realignment announced on February 7, 2026 We announced the strategic realignment of our business on February 7, 2026, resetting our asset-sourcing strategy, re-base opex and strengthen the earnings profile, thereby delivering self-sustained profitability metrics Sourcing strategy Quality of earnings Capital implications Focus on high yield INR 220 Cr 3.0%-3.5% businesses Ramping up high Annualized cost take out Targeted ROA of 3-3.5% by yielding Emerging leading to leaner opex FY29 Market and Embedded base and better Finance profitability Exit low yield business Co-lending/DA income Quality of earnings Exiting from Prime Lesser dependence on Improved quality of earnings Market high ticket low income from co-lending/ leading to capital accretion yield business verticals direct assignment thereby and no requirement to raise (DSA Channel) leading to predictable equity. earnings quality Why the new UGRO is structurally better The strategic realignment re-bases UGRO onto higher-yield lending, recurring income and a leaner cost base lifting long-term economics Pre Strategic Realignment Post Strategic Realignment Higher-yield focus verticals - Emerging Market LAP + Combination of Lower-yield intermediated Prime business - PORTFOLIO Business Loans, Machinery, Prime LAP and higher yield Embedded Merchant Finance Emerging Market LAP + Embedded Merchant Finance Yield ~18–26% Reducing mix of upfront income in the total income thereby INCOME Dependent on upfront DA / Co-lending income - front- leading to a more predictable earnings quality PROFILE loaded and non-recurring Income from DA/Co-lending = 14% of total income Structurally leaner Opex model post Prime exit, Profectus COST Heavier fixed cost base carrying the intermediated acquisition and branch optimisation BASE business cost with EM branch build-out Q1’FY27 Opex at INR 118.5 Cr vs INR 205.3 Cr (Q4’FY26) Self-sustained, annuity-led returns targeting steady-state RETURN ON Lower and more volatile sustainable ROA profitability ASSETS (ROA) Current ROA: 2.8%, Target ROA 3.0–3.5% Beyond safeguarding profitability, the realignment reshapes the Company's business mix toward structurally higher- yielding, more recurring, and more efficient economics, creating a stronger foundation for sustainable growth Strategic realignment execution Our long-term goal as stated in our Strategic realignment presentation in Feb-26 Portfolio mix Number of active customers Dec’25 FY29E Yield- Yield- 18.6% 14.0% 15% Yield- 450K Yield- Yield- 26.0% 400K 22% 350K 15.3% 12% 17.7% 275K 290K Yield- 23.5% Dec'25 Mar'26E Mar'27E Mar'28E Mar'29E Emerging Market Embedded Merchant Finance Others Emerging Market LAP - AUM guidance Embedded Merchant Finance - AUM guidance > 25% CAGR > 25% CAGR 2,596 3,199 in 3 y0ears 0 743 1,798 in 3 y0ears 1,144 Mar'24 Mar'25 Dec'25 Mar'29E Mar'24 Mar'25 Dec'25 Mar'29E Other than Emerging Market and Embedded Merchant Finance, Prime intermediated (now discontinued) portfolio is expected to rundown ~20% [Showing first 8,000 characters — download PDF for full document]