Revised PDF file of Chairman''s Presentation at the 42nd Annual General Meeting

SML Mahindra Limited Trucks & Buses Regd. Office & Works: Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr) Punjab – 144533 Tel +91 1881 270155 SML/SEC/2026-27-037 21st June, 2026 Dy. General Manager- The Secretary, Corporate Relationship Department National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5th Floor, P.J Towers, Plot no. C/1, G Block Dalal Street Fort, Bandra- Kurla Complex Mumbai-400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 505192 Scrip Code: SMLMAH Sub: Chairman’s Presentation at the 42nd Annual General Meeting. Dear Sir, Please find enclosed a copy of the revised PDF file of presentation made by the Chairman of the Company at the 42nd Annual General Meeting held today, i.e. Tuesday, 21st July, 2026 at 11:30 a.m. (IST). This information is also being uploaded on the Company’s website and can be accessed at the weblink: https://smlmahindra.com/IN. Yours faithfully, For SML MAHINDRA LIMITED (Formerly SML ISUZU Limited) (PARVESH MADAN) Company Secretary & Compliance Officer pmadan@smlmahindra.com ACS-31266 SML Mahindra Limited (Formerly SML Isuzu Limited) Corporate Office: 1st Floor, T-7 Tech Park, C-119, Industrial Area Phase-7, SAS Nagar (Mohali) – 160055 (Punjab), Telephone 0172 - 2647700-02 CIN No. L50101PB1983PLC005516 Website: www.smlmahindra.com SML Mahindra Limited 42nd Annual General Meeting 21st July 2026 SML Mahindra Ltd. YEAR IN REVIEW SML Mahindra Ltd. ACQUISITION RECAP 1st Aug, 2025: → Mahindra Completes Acquisition of 58.96% Controlling Stake in SML Isuzu → Board of Directors and Key Leadership of SML reconstituted 8th Oct, 2025: SML ISUZU renamed as SML Mahindra SML Mahindra Ltd. F26: CV INDUSTRY posts highest annual sales after seven years Logistics/ Infrastructure GST Reforms Policy Incentives Fleet Modernization E-commerce Growth Investment #Vehicle Scrappage Policy CV Industry propelling the nation towards USD 5 trillion economy SML Mahindra Ltd. F26: BUSINESS HIGHLIGHTS Outgrowing Industry Revenue  18% 17% SML vs 13% Industry* All-time Highest Sales & Rating  : AA- to AA+ Plant Production PAT  31% Dividend @ 235% * CV Industry >3.5 T 5 SML Mahindra Ltd. F26: VOLUME AND MARKET SHARE Cargo Vehicles Passenger Vehicles 5412 11220 Volumes 28% YOY 12% YOY 3.6% 16.0% 20 bps YOY 80 bps YOY Market share % calculated basis respective segments of ILCV Trucks and ILCV Buses, CV Industry > 3.5T SML Mahindra Ltd. F26: FINANCIAL RESULTS Rs cr. Revenue PAT 2,838 2,399 160 F25 F26 F25 F26 SML Mahindra Ltd. F27Q1 : HIGHLIGHTS ILCV BUS MARKET SHARE YoY VOLUME GROWTH  10% 2nd biggest player with 26.6%* REVENUE  13% PAT : Rs 64 Cr * For Mahindra’s Truck & Bus business (SML + Mahindra Truck and Bus Division) SML Mahindra Ltd. DRIVING GROWTH RESPONSIBLY SUPPORT TO UNDERPRIVILEGED RENOVATION OF SCHOOL UPGRADATION OF MEDICAL GIRLS IN THE FORM OF FEE & INFRASTRUCTURE IN THE FLOOD INFRASTRUCTURE AT UNIFORM AFFECTED AREAS GOVERNMENT HOSPITALS SML Mahindra Ltd. TRUCK & BUS BUSINESS : STRATEGIC ROADMAP OUR ASPIRATION Top 3 in India’s ILCV Trucks & Buses with a focused play in HCVs For Mahindra’s Truck & Bus business (SML + Mahindra Truck and Bus Division) 10 SML Mahindra Ltd. CREATING 12,500 CR BUSINESS BY F31 Where are we today Where do we want to be Outcome (Market Share Trajectory) 20%+ ILCV Buses (<12T) No. 3 Player Industry Leadership share 10-12% 6% Limited ILCV Trucks (5-18.5T) Relevant Player share Presence Marginal Enhanced presence HCV Trucks (28-55T) Presence in focused sub-segments F26 F31 F36 For Mahindra’s Truck & Bus business (SML + Mahindra Truck and Bus Division) 11 SML Mahindra Ltd. TWO-PRONGED GROWTH STRATEGY Deepen ILCV (Top 3) Focused Play in HCV Strengthen core bus & truck segments Expand into high-value heavy commercial vehicles INTEGRATED LEVERAGE EACH PROFIT POOL REINVIGORATING HCV PRODUCT ROADMAP OTHER’S BRAND EQUITY OPPORTUNITY STRATEGY FOCUSED INVESTMENT/ OPERATIONAL EXCELLENCE & CUSTOMER-CENTRIC DIVERSIFICATION MANUFACTURING EFFICIENCIES INNOVATION SML Mahindra Ltd. FORMIDABLE CHALLENGER WITH STRONG SUB-BRANDS… STRONG SUB BRANDS SML Mahindra Ltd. …AND COMPREHENSIVE PRODUCT PORTFOLIO Goods Passenger M&HCV ICV LCV ILCV Bus COMBINED RANGE OF SPECIAL PURPOSE VEHICLES Troop carrier Ambulance Water bowser Dual cab Reefer van Closed container Diesel Bowser Closed container SML Mahindra Ltd. ACCELERATING PROGRESS ACROSS KEY STRATEGIC PILLARS IMPROVE POWERTRAIN ENHANCE MANUFACTURING VALUE ENGINEERING SOURCING SYNERGIES Improve performance, Powerful engines to support Leverage existing Leverage Strategic Sourcing optimize design and higher GVW Vehicles infrastructure capabilities processes PRODUCT PORTFOLIO STRENGTHEN R&D NETWORK SYNERGIES OPERATIONAL EFFICIENCIES Addressing white spaces with Support development of Cost optimization, use of Cross-leverage dealers across rebadging & Platform sharing higher GVW vehicles, EVs shared services brands SML Mahindra Ltd. INTEGRATION UPDATE ▪ Integrated product & aggregate strategy ▪ Culture and policy alignment ▪ Industry best uptime & lowest TCO ▪ Common Talent Pool DIFFERENTIATED TALENT PRODUCTS ▪ Sourcing & aggregate synergies ▪ Connected vehicle tech ▪ Manufacturing footprint ▪ Digital prognostics & analytics ▪ Integrated DMS UNLOCKING TECHNOLOGY CAPITAL ▪ 600+ touchpoints ▪ 2 brand strategy ▪ Service network integration ▪ Sales network pilots NETWORK BRAND Ahead or on Plan Plan being worked out 16 SML Mahindra Ltd. TRANSFORMATION ROADMAP F27-29 F28-32 F31-35 Consolidate Scale Maximize - Seamless Integration - Launch modern, - Operating Leverage through - Execute and Realize Synergy competitive product portfolio Scale Ideas - Strengthen Presence in - Premium positioning through - Evaluate Structure current markets, expand in Brand and Product Strength - Invest in Growth new markets - Alternate fuels SML Mahindra Ltd. "Empowered by innovative products and customer-centric focus, we are confidently steering your Company towards a future of sustainable growth, market leadership, and unparalleled value creation." For Mahindra’s Truck & Bus business (SML + Mahindra Truck and Bus Division) 18 SML Mahindra Ltd. THANK YOU SML Mahindra Ltd.