We wish to inform the Exchange that ICRA ESG Ratings Limited ('ICRA ESG') has upgraded [ICRA ESG] Impact Rating to '80 (Outstanding)' from '76 (Good)'.

August 05, 2026 BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumbai - 400001 Mumbai - 400051 Security Code: 532892 Symbol: MOTILALOFS Sub.: Revision in ESG Rating received from ICRA ESG Ratings Limited: Upgrade in Impact Rating to ’80 (Outstanding)’ from ’76 (Good)’ Dear Sir/Madam, Pursuant to the provisions of Regulation 30 read with Para A of Part A of Schedule III and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (as amended), we wish to inform the Exchanges that ICRA ESG Ratings Limited (“ICRA ESG”) has upgraded [ICRA ESG] Impact Rating to ’80 (Outstanding)’ from ’76 (Good)’. The Rating Letter along with the rationale letter issued by ICRA ESG are enclosed herewith. As part of its review, ICRA ESG undertook a comprehensive evaluation of the Company's Environmental, Social and Governance (“ESG”) framework based on, inter alia, disclosures made in the Company's Annual Report, publicly available information, various policies and codes, internal processes, management practices and ESG approach, environmental stewardship, social responsibility initiatives, corporate governance practices including internal controls and risk management systems. Based on the assessment, ICRA ESG has assigned the following scores to the Company: • Environmental Pillar: Score of 78 – “Good”, reflecting the Company's low environmental footprint, improved climate disclosures, value-chain sustainability assessment/initiative, and ESG Vision 2030 commitments. • Social Pillar: Score of 83 – “Outstanding”, recognising the Company's strong employee welfare practices, customer protection framework, learning and development initiatives, and expanded community impact. • Governance Pillar: Score of 80 – “Outstanding”, supported by enhanced Board diversity and independence, robust governance practices, transparent disclosures, and strengthened Board-level ESG oversight. The Company believes that this independent ESG rating reaffirms its commitment to strong governance, responsible business conduct and sustainable value creation, and provides additional comfort to investors regarding the robustness of its ESG practices. The said Rating Letter along with the rationale letter will be uploaded on the Company’s website at www.motilaloswal.com and is available on the website of ICRA ESG at www.icraesgratings.in. The information was communicated to the Company at 03:25 p.m. on August 05, 2026. We request you to take the above on record. Thanking you, Yours faithfully, For Motilal Oswal Financial Services Limited Kailash Purohit Company Secretary & Compliance Officer Encl: As above Category-I ESG Ratings Provider August 05, 2026 Motilal Oswal Financial Services Limited: Update on Material Event; Rating Upgraded Poor Weak Moderate Good Outstanding 0 20 40 60 80 100 Summary of rating action Previous Rating Rating Rating Motilal Oswal Financial Services Limited Current Score Score Symbol Symbol Movement ESG Impact Rating 76 Good 80 Outstanding Environment Social Governance 40 60 40 60 83 40 60 20 80 20 80 20 80 0 100 0 100 0 100 Good Outstanding Outstanding Weightage: 45% Weightage: 25% Weightage: 30% Material Event Motilal Oswal Financial Services Limited (MOFSL) released its FY2026 Business Responsibility and Sustainability Report (BRSR) in June 2026. The report also marked the transition from standalone to consolidated ESG reporting along with the introduction of the Group-level ESG Vision 2030. Accordingly, the BRSR covered performance of the flagship entity Motilal Oswal Financial Services Limited along with three material subsidiaries Motilal Oswal Asset Management Company Limited (MOAMC), Motilal Oswal Finvest Limited (MOFL), and Motilal Oswal Home Finance Limited (MOHFL). www.icraesgratings.in Sensitivity Label : Public Page | 1 Category-I ESG Ratings Provider Impact of Material Event ICRA ESG reviewed the updated FY2026 disclosures and received inputs from the management. Consequently, the ESG Impact rating was upgraded to 80 (Outstanding) from 76 (Good). The environmental profile benefited from the commencement of value-chain ESG assessments, adoption of ESG Vision 2030 with specific targets and broader climate- related disclosures. The governance profile was supported by the efforts made by the company to improve board level independence, diversity, and strengthening of board-level sustainability oversight through introduction of formal ESG commitments. The social profile remained broadly stable, supported by improved gender pay parity, higher CSR outreach, and employee development initiatives, although elevated attrition levels, and rising income inequality remain monitorable. 78 (Good) Environment revised from 72 (Good) The environmental score was revised upwards from 72 (Good) to 78 (Good) after factoring in the progress in MOFSL’s ESG journey with improvements in environmental indicators including GHG emissions, air emissions and value chain sustainability profile. During FY2026, the company transitioned from standalone to consolidated ESG reporting, resulting in an increase in reported energy consumption, emissions, water consumption and waste generation. However, the impact of the expanded reporting boundary was largely offset by higher revenues, resulting in resource and emissions intensity metrics remaining broadly stable or improving across key parameters. Energy intensity improved to 4,472 MJ per Rs. crore of revenue in FY2026 from 5902 MJ per Rs. crore in FY2025, while water intensity improved marginally to 10.6 KL per Rs. crore of revenue from 10.8 KL per Rs. crore alongside GHG emission intensity improving to 0.90 tCO e per Rs. crore of revenue in FY2026 from 1.19 tCO e per Rs. crore of revenue. The company continues to implement various resource- efficiency initiatives including LED lighting, occupancy sensors, variable refrigerant flow (VRF) air-conditioning systems, thermal glazing solutions, server virtualisation and paperless workflows The company’s overall low resource intensive profile is factored favorably in its environmental score. In FY2026, MOFSL reported renewable energy consumption, through its Malad office operation. This currently represents only ~0.3% of the overall energy mix, however, it marks the company's progress towards its stated decarbonisation ambitions. Substantial growth in renewable energy adoption would be crucial for its energy management score. Further, the company has articulated a formal environmental strategy under its ESG Vision 2030, including a target to reduce carbon intensity by 20% and expand renewable energy adoption at key locations. Meaningful progress against these targets remains crucial. Climate-related disclosures strengthened materially during FY2026. Following the transition to consolidated reporting and expansion of reporting boundaries, MOFSL’s Scope 1 emissions increased to 203.46 tCO₂e from 6.76 tCO₂e, while Scope 2 emissions increased to 8,205.83 tCO₂e from 6,369.77 tCO₂e, primarily reflecting broader coverage of group operations. The company also significantly expanded its Scope 3 reporting boundary, with Scope 3 emissions increasing to 29,480 tCO₂e from 11,116 tCO₂e in FY2025 due to inclusion of additional categories such as purchased goods and services, capital goods, leased assets and employee commuting. While ICRA ESG does not directly evaluate the absolute magnitude of Scope 3 emissions, the enhanced disclosure framework and formalisation of a carbon-intensity reduction target indicate increasing climate governance maturity. www.icraesgratings.in Sensitivity Label : Public Page | 2 Category-I ESG Ratings Provider MOFSL’s air emissions profile improved with better reporting of its impact, which remained negligible. MOFSL reported direct emissions of 0.0163 tonnes of nitrogen o [Showing first 8,000 characters — download PDF for full document]