Please find enclosed Transcript of earnings call held on 31 July 2026

5 August 2026 To To Corporate Relations Department. Corporate Listing Department. BSE Limited National Stock Exchange of India Ltd 1st Floor, New Trading Ring, Exchange Plaza, 5th Floor Rotunda Building, P J Tower, Plot No.C-1, G Block, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (East), Mumbai 400 001 Mumbai 400 051 BSE Code: 532978 NSE Code: BAJAJFINSV Dear Sir/Madam, Sub: Transcript of Conference Call held in respect of financial results for the quarter ended 30 June 2026 Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘SEBI Listing Regulations’) r/w Clause 15 of Part A of Schedule III to the SEBI Listing Regulations In furtherance of our letter dated 25 July 2026, this is to inform that the transcript of the investors conference call held on Friday, 31 July 2026 at 5:15 p.m. (IST), has been uploaded on the website of the Company and is available at https://www.aboutbajajfinserv.com/investor- relations-quarterly-earnings-conference-call-recording-and-transcripts Please find enclosed the aforesaid transcript (pdf) for ease of reference. We request you to kindly take the same on record. Thanking you, FOR BAJAJ FINSERV LIMITED UMA SHENDE COMPANY SECRETARY Email ID: investors@bajajfinserv.in Encl.: As above Page 1 of 1 https://www.aboutbajajfinserv.com/about-us Corporate Office: 6th Floor, Bajaj Finserv Corporate Office, Off Pune - Ahmednagar Road, Viman Nagar, Pune - 411 014, Maharashtra, India Tel: +91 20 7150 5700 | Fax: +91 20 7150 5792 Registered Office: C/o Bajaj Auto Limited Complex, Mumbai - Pune Road, Akurdi, Pune - 411 035, Maharashtra, India Corporate ID No.: L65923PN2007PLC130075 | Email ID: investors@bajajfinserv.in “Bajaj Finserv Limited Q1 FY2027 Earnings Conference Call” July 31, 2026 MANAGEMENT: MR. S. SREENIVASAN – PRESIDENT, INSURANCE AND SPECIAL PROJECTS – BAJAJ FINSERV LIMITED MR. RAMANDEEP SINGH SAHNI – CHIEF FINANCIAL OFFICER – BAJAJ FINSERV LIMITED MR. TAPAN SINGHEL – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – BAJAJ GENERAL INSURANCE LIMITED MR. TARUN CHUGH – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – BAJAJ LIFE INSURANCE LIMITED MR. AVAIS KARMALI – CHIEF FINANCIAL OFFICER – BAJAJ GENERAL INSURANCE LIMITED MR. VIPIN BANSAL – CHIEF FINANCIAL OFFICER – BAJAJ LIFE INSURANCE LIMITED MR. ASHISH PANCHAL – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – BAJAJ FINSERV DIRECT LIMITED MR. DEEPAK MATAI – CHIEF EXECUTIVE OFFICER – BAJAJ FINSERV HEALTH LIMITED MR. GANESH MOHAN – MANAGING DIRECTOR – BAJAJ ASSET MANAGEMENT LIMITED MODERATOR: MR. RAGHVESH – JM FINANCIAL Page 1 of 18 Bajaj Finserv Limited July 31, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Bajaj Finserv Limited Q1 FY2027 Earnings Conference Call hosted by JM Financial Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions at the end of today's presentation. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I would now like to hand the conference over to Mr. Raghvesh from JM Financial Limited. Thank you, and over to you, sir. Raghvesh: Thank you, Manav. Good evening, everyone, and welcome to the Q1 FY2027 Earnings Conference Call of Bajaj Finserv Limited. First, I would like to thank the management of Bajaj Finserv for giving us the opportunity to host this call. As always, we'll have opening comments from the management team, post which we'll open the floor for Q&A. From the management side today, we have Mr. S. Sreenivasan, President, Insurance and Special Projects, Bajaj Finserv Limited; Mr. Ramandeep Singh Sahni, CFO, Bajaj Finserv Limited; Mr. Tapan Singhel, MD and CEO, Bajaj General Insurance Limited; Mr. Tarun Chugh, MD and CEO, Bajaj Life Insurance Limited; Mr. Avais Karmali, CFO, Bajaj General Insurance Limited; Mr. Vipin Bansal, CFO, Bajaj Life Insurance Limited; Mr. Ganesh Mohan, MD Bajaj Asset Management Limited; Mr. Ashish Panchal, MD and CEO, Bajaj Finserv Direct Limited; and Mr. Deepak Matai, CEO, Bajaj Finserv Health Limited. With this, I would hand over the floor to Ramandeep, sir for his opening comments, Thanks and over to you, sir. Ramandeep Sahni: Thank you for the introduction. Good evening, everybody. We welcome you to the conference call to discuss the results of Bajaj Finserv Limited, BFS for Q1 FY2027. As before, in this call, we will largely be concentrating on the consolidated results of Bajaj Finserv Ltd. (BFS), the results of our insurance operations through Bajaj General Insurance Limited and Bajaj Life Insurance Limited, our emerging companies which include Bajaj Finserv Health Limited, Bajaj Finserv Direct Limited, and Bajaj Asset Management Limited. And lastly, where material, the stand-alone results of Bajaj Finserv. Bajaj Finance Limited and Bajaj Housing Finance Limited, our other two material subsidiaries have already had their conference calls, and hence, we would pursue only very high-level questions on these companies. On a few hygiene points, as a word of caution, we affirm that any statements that may look forward-looking statements are just estimates and do not constitute an assurance or indication of any future performance result. Page 2 of 18 Bajaj Finserv Limited July 31, 2026 Also to just give you an update on the basis of accounting as we do always. As required by the regulation, Bajaj Finserv prepares its financials in compliance with Ind AS. The insurance companies, however, are currently not covered under Ind AS. Hence, they have prepared, their Ind AS financials only for the purpose of consolidation with BFS. Accordingly, for Bajaj General and Bajaj Life, the stand-alone number reported are on non-Ind AS accounting standards basis, which is referred as Indian GAAP as is applicable to the insurance companies currently. Further on this subject, in line with the recent prescription from IRDAI, both our insurance companies would transition to Ind AS from first of April 2027. Let me now give you a high-level update on the consolidated financial results for the quarter. The consolidated total income for Bajaj Finserv grew at 19% to INR 42,037 crore. And the consolidated profit after tax grew at 18% to INR 6,297 crore. This is just to give you a flavour of the consolidated numbers. Now I will deep dive into each company's performance, starting with Bajaj General: The GWP for Bajaj General grew at 11.3% for the quarter at INR 5,789 crore, which is in line with the industry GDPI growth of 11.1% -- excluding the bulky tender-driven crop and government health businesses, the GWP increased by about 10% as against the GDPI growth of the industry of about 12%, a little lower than the industry due to tactical reduction in the motor segment on account of elevated pricing pressures. The underwriting loss for the company was at about INR 130 crore for the quarter as against INR 116 crore for the same period last year, impacted by high health loss ratios attributable to higher mix of the government health business in the net earned premium. The combined ratio for the quarter was elevated at about 104.7%. However, if you look at the number on old accounting basis, it's at about 103.9%. The same period last year, the combined ratio on new basis was 103.6%the elevation is largely on account of de-growth in the fire segment as seen for the entire industry. And also, as indicated earlier, on account of increased loss ratios on the government health business. Despite that, we believe that the reported COR would be the best in the industry despite the stress in the market in terms of pricing. The profit for the quarter was at INR 478 crore as against INR 660 crore for the same period last year. The reduction is mainly on account of lower capital gains booked in the quarter as compared to the same quarter last yea [Showing first 8,000 characters — download PDF for full document]