Transcript of the earnings conference call on financial performance of the Company for the quarter ended June 30, 2026.

Ref. No.: FM/CS/2026/359 Date: August 07, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Plot No. C/1 Phiroze Jeejeebhoy Towers G Block Bandra – Kurla Complex Bandra East Dalal Street Mumbai – 400 051. Mumbai – 400 001. Scrip Symbol: SBIFUNDS Scrip Code: 544829 Sub: Transcript of the earnings conference call on financial performance of the Company for the quarter ended June 30, 2026 Dear Sir / Madam, Pursuant to Regulation 30 read with Schedule III Part A Para A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the SEBI Listing Regulations) and as per the relevant SEBI Circulars, we are forwarding the transcript of the earnings conference call held on Monday, August 03, 2026 at 07: 10 p.m. IST on the financial performance of the Company for the quarter ended June 30, 2026. The transcript of the aforesaid earnings conference call is also available on the Company’s website at https://sbifunds.com in compliance with Regulation 46 of the SEBI Listing Regulations. We request you to please take the above information on record. Thanking you, Yours faithfully, For SBI Funds Management Limited Vinaya Datar Chief Compliance Officer, Company Secretary and Head Legal Membership No.: ACS 15527 Encl: As Above SBI Funds Management Limited Q1 FY27 Earnings Conference Call August 03, 2026 Page 1 of 11 Moderator: Ladies and gentlemen, good day and welcome to the SBI Funds Management Limited, Q1 FY27 Earnings Conference Call. On the call, we have with us today Mr. Debasish Mishra, Managing Director and CEO, Mr. D.P. Singh, Joint CEO, Mr. Srinivas Jain, Chief of Strategy, Digital and Technology, and Head Investor Relations, Mr. Inderjeet Ghuliani, Chief Financial Officer, Ms. Vinaya Datar, Chief Compliance Officer, Company Secretary and Head Legal. I now hand the conference over to Mr. Debasish Mishra, Managing Director and CEO. Thank you and over to you, sir. Debasish Mishra: Yeah. Namaskar. Very good evening to everyone. Before I move into the quarter's highlights, I want to take a moment to thank all our investors for their enthusiastic participation in our IPO and for the trust you have placed in our organization. This is our first earnings call following our listing and it is a significant moment for us. We are committed to building on this foundation with continued transparency, disciplined execution, and regular engagement with all our stakeholders. Let me begin with a brief view of the macro environment. The quarter has characterized by a steady domestic economic momentum, healthy corporate earnings, and constructive equity market conditions, even as global markets witnessed intermittent volatility in interest rates, liquidity, and commodities. Despite these external fluctuations, Indian household savings continued their structural shift towards financial assets, supporting stable participation across investment categories. Turning to our industry, mutual fund QAAUM, that is quarterly average assets under management, grew around 15% year-on-year and remained broadly stable sequentially, driven by market strength and sustained retail flows. Equity-oriented assets saw a strong Y-o-Y expansion with notable outperformance in small and mid-cap segments during the quarter, whereas large-cap delivered more moderate gains. Monthly SIP inflows remained resilient at over ₹31,000 crores, signalling durable investor behaviour through market cycles. Debt assets moderated due to institutional redemption patterns and tight short-term liquidity, while passive products continued to expand meaningfully as ETFs and index funds gained acceptance among both institutional and retail investors. Overall, industry flows remained constructive despite short-term volatility across categories. I'll now come to SBI Funds Management performance. Our company continued to strengthen its leadership position. Mutual fund QAAUM for the quarter stood at ₹12.6 trillion, registering Y- o-Y growth of 11%, compared to 11.4 trillion in the same quarter last year. Our market share based on the overall QAAUM stood at 15.1%. Active QAAUM increased by ₹8.6 trillion, up 10% year-on-year and a robust three year CAGR of 21%, supported by consistent performance and healthy flows. Passive QAAUM rose to ₹4 trillion, up to 12% year-on-year, reinforcing our leadership in the segment. Our alternate business continued to scale with total non-mutual fund AUM comprising PMS, advisory, offshore, and AIF assets reaching ₹16.5 trillion. Our AIF assets stood at ₹6,800 crores, making 29% year-on-year increase. Offshore funds contributed approximately ₹45,000 crores in the overall AUM. Page 2 of 11 Gross margins across equity, debt, liquid, and passive strategies remained stable during the quarter, while net margins have improved at overall level despite change in regulation around transition to the base expense ratio and removal of exit load structure. We continue to manage these regulatory changes prudently to preserve long-term margin resilience. Our unique investor count expanded by 12% to 1.82 crores as on 30th June ‘26, compared to 1.63 crores as on 30th June ‘25. SIP AUM increased by ₹2.1 trillion, reflecting 15% year-on-year growth and monthly SIPs grew by 14% to nearly ₹4,000 crores. Our distribution franchise continued to be deepened, supported by over 23,000+ SBI branches, over 124,000 independent financial advisors, nearly 10,000 national distributors, and over 90 banking partners, including State Bank of India, which has enabled us to reach investors at over 98% pin codes across the country. We continue to remain market leader in B30 locations with an MAAUM market share of 19%. Our strong presence in Tier-2, Tier-3 markets is clearly reflected in our robust B30 market share, with nearly 65% of SIP contribution originating from these markets, underscoring our deepening penetration and commitment to democratizing savings across the country. Now I will list a few new product launches. We have robust product pipelines across Mutual fund, SIF, PMS, and AIF with a strong focus on differentiated investor-centric solutions. We are further strengthening our SIF offering and will launch our second strategy this quarter, positioned in the Ex-Top 100 long-short category. Last quarter, we introduced six new strategies and we currently have an NFO underway, that is SBI Nifty Midcap 150 Momentum 50 ETF FOF. To complete our hybrid suite, we are also launching the SBI Balanced Hybrid Fund. We continue to enhance our product platform across active, passive, and alternate strategies with meaningful progress in AIF, PMS, and SIF capabilities, alongside steady expansion of our international business through Gift City and offshore mandates. These capabilities position us strongly to capture rising domestic and global interest in India-focused strategies. I will give a few lines on the technology and AI. These have continued to improve our customer experience, productivity, strengthen distributor enablement, and enhanced investment management capabilities. For investors, our AI-driven tools offer personalized nudges, easier on-boarding, and intuitive digital journeys. After the success of our AI in our InvesTap Nxt mobile app now, about 50,000 distributors now use our partner app and portal for advanced analytics, real-time reporting, and customer insights also. Around 94% of the investor transactions are processed digitally through our secure hybrid cloud infrastructure. We are also enhancing our in-house research platform, Neo, by integrating AI capabilities, strengthen investment management, and performance workflows. Coming to the financial performance, our operating revenue for the quarter stood at ₹1,149 crores compared to ₹997 crores a year, 15% Y-o-Y growth. Operating profit stood at ₹907 crores, registering a healthy growth of 17% profit after tax, which stood at ₹873 crores, registering 37% growth quarter-on-quarter basis. Our net [Showing first 8,000 characters — download PDF for full document]