Business Updates

EW/Sec/2026-27/214 August 6, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Fort, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 532922 Symbol: EDELWEISS Dear Sir/Madam, Sub: Business Update on EAAA Alternatives Please find enclosed herewith the Business Update (in INR) of EAAA India Alternatives Limited, a subsidiary of the Company. Kindly take the same on record. Thanking you, Yours faithfully, For Edelweiss Financial Services Limited Tarun Khurana Company Secretary Encl.: as above Edelweiss Financial Services Limited Corporate Identity Number: L99999MH1995PLC094641 Registered Office: Edelweiss House, off. C.S.T. Road, Kalina, Mumbai - 400 098 Tel No.: +91 022 4079 5199 Email: cs@edelweissfin.com Website: www.edelweissfin.com EAAA Alternatives Business Update August 2026 Contents The Alternatives Opportunity EAAA Alternatives: A Differentiated and Diversified Alternatives Asset Manager Built with Asset Management Capabilities at its Core Financial Performance A Foundation Built to Compound The Alternatives Opportunity India's structural runway for long-term patient capital • A Large & Scalable Opportunity • Yield & Income Generating Alternatives Outpacing the Industry • Backed by a Deeping Pool of Domestic Investors Indian Alternatives is a Large & Scalable Opportunity… Indian Alternatives AUM ($ bn) Proven Growth: Alternatives AUM is projected to reach 211 $166 bn by end of 2026, a 2.6x surge from 2016 levels 134 139 54% Massive Headroom: Indian Alts penetration sits at just 3.5% of GDP, compared to 27.8% in North America 105 57% 78 63% 62% 51% 61% The 2030 Runway: As India expands toward a $7 tn+ economy, Alts AUM is set to cross $275 bn 37% 39% 39% 39% CY16 CY18 CY20 CY22 CY24 CY26F CY28F CY30F India’s Alts market is heavily underpenetrated today, creating a massive runway as the economy scales to $7 tn+ …With Yield & Income Strategies Outpacing the Alternatives Industry… Yield & Income Strategies CAGR % $276 (FY26F-30F) $70 bn in 2026: Yield & Income AUM is set to nearly triple 18% its 10-year baseline by end of 2026 $211 Dominant Share: Expected to grow at an 18% CAGR to 139 54% ~$140 bn by 2030, capturing over 50% of the entire Indian $105 57% Alts market 105 63% 61% Macro Drivers: Unlocked by shifting bank credit dynamics 37% 39% 38% and policy-led asset monetization under NMP 2.0 in 39% 39% infrastructure CY16 CY18 CY20 CY22 CY24 CY26F CY28F CY30F Yield & Income Strategy Growth Strategy Yield & Income is becoming the core anchor of Indian Alts, on track to command over 50% of the market by 2030 NMP – National Monetization Plan …Backed by a Deepening Pool of Domestic Investors HNI & UHNI Population of India HNIs UHNIs UHNI and HNI population projected to grow at 9.6% & 15.8% CAGR respectively by 2027 16,57,272 19,119 2027F 2027F $5 Tn Wealth Surge: As promoter equity triples to $5 Tn by 2035, expanding family offices will increasingly seek multi-asset diversification 12,069 7,97,714 $1.4 Tn of domestic institutional capital, 2022 2022 growing at 14% CAGR, now open to alternatives EAAA Alternatives A Differentiated and Diversified Alternatives Asset Manager • An Institutional Platform built over 15+ Years • 8 Core Strategies Across Yield and Income verticals • Diversified Client Pool with Strong Repeat Interest • A Robust Track Record – with Flagship Funds in their 3rd or 4th vintage series • Manage Closed-ended funds from Investors with Patient Capital Looking at Long Term Value Creation An Institutional Platform built over 15+ Years… Multi-vertical Alternatives Asset Manager Offering Stability and Predictability to Revenue, Ensuring Resilience to Market Fluctuations Energy Transition Other Verticals Other Verticals Rental Yield Rental Yield Energy InvIT Energy InvIT Energy InvIT Investment Investment Investment Investment Grade Credit Grade Credit Grade Credit Grade Credit Infra Yield Infra Yield Infra Yield Infra Yield Real Estate Credit Real Estate Credit Real Estate Credit Real Estate Credit Real Estate Credit Special Situations Special Situations Special Situations Special Situations Special Situations Special Situations Performing Credit Performing Credit Performing Credit Performing Credit Performing Credit Performing Credit Performing Credit FY10 FY12 FY16 FY18 FY23 FY24 FY26 …Across Yield and Income Verticals… Fee Paying AUM (FPAUM): ~₹48,600 cr Infrastructure Commercial Energy InvITs Special Performing Investment Real Estate Yield Real Estate Transition Situations Credit Grade Credit Credit Yield Own and operate Finance growth 3.1 mn sq. ft. 1,835 circuit km 190 140 of office space of transmission lines Investments made completed exits 4,586 lane km 1.73 GW ₹42,408 cr ₹43,973 cr of roads of solar assets Invested Realized FPAUM of ~₹28,000 cr FPAUM of ~₹19,300 cr Yield & Income Products: Preferred Choice for Long-term Patient Capital FPAUM is AUM on which we earn management fees. Total AUM may be higher 9 …Serving a Diverse Client Base across Geographies… AUM by Client Type Institutional 5,700+ Non-institutional Unique Client relationships across the world* 1,400+ Repeat Clients of Total AUM from Repeat Clients Diverse client pool in both domestic & offshore markets across 34 Countries with meaningful headroom for future growth *Over 11,000 unique clients including our listed InvITs …Demonstrating a Resilient Track Record… Since FY22… Fund Raise Deployment Realizations ~₹62,230 cr ~₹49,740 cr ~₹42,170 cr Recent Fund Lifecycle Completions EIYP (Infra Yield) EISAF II (Special Situations Credit) ESOF III (Performing Credit) One of the first India Infrastructure Nearing full exit and expected to 100% capital returned as of July 2026, Yield Funds to successfully complete full exceed target returns Fund approaching a complete exit fund life cycle Our Flagship Funds are now in their 3rd or 4th vintage series …And Sustained Recognition across the Industry 2021-2024 2025 & 2026 Top global fund raisers by Private Debt Asian Investor Asset Management award Top global fund raisers by Private Debt Investor magazine in 2021, 2022, 2023 & in the market awards India category 2024, Investor magazine in 2025 2024 2025 & 2026 Best Gen AI Use Case of the Year: 2025 & Best Overall Performance of the Year - Infrastructure Investor - Top 2 India Best Implementation for Gen AI for Infrastructure Fund: 2026 Infrastructure Investors: 2024 Business: 2025 Private Credit Fund: 2025 Indian Alternatives Investment Thought Asset Management Company of the Year Prestigious Brands of Asia 2025 by BARC Leadership Award in Operational Category - India, at the Global Private Banking - 2024 Innovations Built with Asset Management Capabilities at its Core • Dedicated Asset Operating and Management Team • Long Tenured Senior Management Team With Extensive Industry Experience • Technology-Driven Operations & Strong Governance Dedicated Asset Management Platform & Operational Capability… Conducts thorough due diligence on investment opportunities 60+ member Asset Operating And Management Team Value Enhancement Enhances operational efficiency through technology Managing the entire lifecycle of assets Operations in more than 17 states Active on-ground presence Asset Optimization And Turnaround Professionals who possess Focuses on improving intrinsic value core technical skills Performance Consistency, Accountability & Efficiency Driven by our On-ground Asset Management Team …Led by a Seasoned Management Team With Extensive Industry Experience… Long Tenured Senior Management with rich experience in Alternative Asset Management across two decades of economic cycles, supported by… 270+ 80+ 18 60+ 10 100+ Employees Across Investment Asset Operating & Managing Directors Coverage Team Enterprise Team Functions Professionals Management Team Strong Alignment To Business Objectives Through Performance-linked Incentives and Equity Ownership …Backed by Technology-Driven Operations & St [Showing first 8,000 characters — download PDF for full document]