Submission of 14th Annual Report along with the Notice of Annual General Meeting (AGM).

NSDL/AF/BSE/2026/0064 Date: August 31, 2026 Listing Compliance Department BSE Limited, Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 Dear Sir/Madam, Scrip Code: 544467 ISIN: INE301O01023 Sub.: Submission of 14th Annual Report along with the Notice of Annual General Meeting (AGM) Ref.: Regulations 30 & 34(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations’) The stakeholders are hereby informed that the 14th AGM of the Company, is scheduled to be held on Tuesday, September 22, 2026, at 11:30 AM (IST) through Video Conferencing (‘VC’) / Other Audio Visual means (‘OAVM’). Pursuant to Regulation 34(1) of SEBI Listing Regulations, 2015, please find enclosed the Annual Report for the FY 2025-26 along with the Notice of the 14th Annual General Meeting ("AGM") of the Company, scheduled to be held on Tuesday, September 22, 2026, at 11:30 A.M. (IST) through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM") to transact the business as set out in the Notice convening the Meeting. The deemed venue of the AGM shall be the Registered Office of the Company situated at 301, 3rd Floor, Naman Chambers, G Block, Plot No. C-32, Bandra Kurla Complex, Bandra (East), Mumbai - 400051. Further, pursuant to Regulation 36(1)(b) of the Listing Regulations, the Company is also sending a letter to those shareholders whose e-mail addresses are not registered with the Company and RTA, providing them a web-link for accessing the Notice of the 14th AGM and the Annual Report. 301, 3rd Floor, Naman Chambers, G Block, Plot No- C-32, Bandra Kurla Complex, Bandra East, Mumbai- 400051 Tel: 91 22 6944 8400/8500| CIN – L74120MH2012PLC230380 | Email: info@nsdl.co.in | Web: nsdl.com The 14th Annual Report along with the Notice of 14th AGM are also available on the Company's website i.e. https://nsdl.com We request you to kindly take the same on record. Thanking you, Yours faithfully, For National Securities Depository Limited Alen Ferns Company Secretary & Compliance Officer Membership No. A30633 Encl: as above 1. Central Depository Services (India) Limited 2. MUFG Intime India Private Limited (formerly Link Intime India Private Limited) 301, 3rd Floor, Naman Chambers, G Block, Plot No- C-32, Bandra Kurla Complex, Bandra East, Mumbai- 400051 Tel: 91 22 6944 8400/8500| CIN – L74120MH2012PLC230380 | Email: info@nsdl.co.in | Web: nsdl.com TRUST AT THE CORE #legacymeetslisting DIGITALLY TRANSFORMED 99.38% INVESTORS EMPOWERED DIGITAL ACCOUNTS EVERYWHERE SECURITIES SAFELY MANAGED 30 Years of Trust Empowering India’s Growth Shaping the Future Together ANNUAL REPORT 2025-26 Contents Corporate Overview About NSDL 2 Our Journey 8 The year as it was 10 Key Performance Indicators 20 Chairman’s Message 24 Letter from the Managing Director & CEO 26 Board of Directors 28 Leadership Team 30 Employee Engagement 32 Investor Education, Awareness and Protection 36 Corporate Social Responsibility 41 Corporate Information 47 48 Statutory Reports Management Discussion and Analysis 48 Notice 61 Board's Report 79 Corporate Governance 98 134 Financial Statements Standalone Financials 134 Consolidated Financials 205 The Indian economy is evolving, witnessing rapid economic With our extensive offerings, we address their diverse needs. expansion, digital transformation, and rising financial With our superior and highly secure technology-driven Contents inclusion. As the nation grows, so are the aspirations of infrastructure, we simplify participation and processes, individuals and businesses, who are increasingly stepping assure the safety and security of all stakeholders, and into the world of financial and securities markets. ensure stability of the Indian marketplace. NSDL stands as a trusted guardian, dedicated to bridging At NSDL, our journey reflects India’s transformation and this gap and empowering India’s financial progress. As growth. Built on trust and powered by technology, we remain India’s first and leading depository, we have created a secure committed to shaping the next phase of India’s financial and dependable ecosystem, keeping at the core interests of evolution while unlocking value for all stakeholders through investors and market intermediaries. the listing of our equity shares on August 6, 2025. 30 Years of Trust Empowering India’s Growth Shaping the Future Together National Securities Depository Limited About NSDL Powering India’s capital markets with scale, trust, and technology We are a market infrastructure institution (MII), offering a wide range of products and services to the financial and securities markets in India. We are India’s first and leading depository and are the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets held under custody. 2 30 Years of Trust | Empowering India’s Growth | Shaping the Future Together About NSDL Annual Report 2025-26 3 CORPORATE OVERVIEW NSDL’s legacy reached a new pinnacle with the listing of its equity shares on August 6, 2025. This glorious milestone marks a moment of pride and prestige and is a shining testament to our 30 years of commitment, contribution and service to the Indian capital market. Our legacy The 1990s saw the nation undergo significant transformation, with economic liberalisation, technological advancements, and cultural shifts. This decade was equally crucial for India’s financial markets’ evolution. The period initially saw the securities market faced challenges like fake and forged certificates, delayed settlements, unregistered transfers, and bad deliveries, among others. What followed was several policy changes and the introduction of the Depositories Act in 1996, which laid the foundation for significant growth and development. NSDL was instrumental in this evolution, pioneering securities dematerialisation in India, which involved converting and storing physical share certificates in electronic form. This revolutionised the securities landscape and made transactions easier. We also introduced the Note: The information contained herein is compiled from NSDL records as on March 31, 2026 concept of opening depository accounts and is subject to change without prior notice. in the name of beneficial owners, so that they are entitled to benefits. NSDL was one of the initial few depositories globally to directly implement dematerialisation, bypassing the traditional two-step process of immobilisation and subsequent dematerialisation. National Securities Depository Limited eServices A secure, digital-first suite enabling investors and intermediaries to seamlessly transact and interact Product offerings: SPEED-e IDeAS Electronic submission of delivery Viewing account balances, instructions, pledge instructions, transaction history, and view balances, download eCAS, holdings; facilities like e-Voting, Client Master Report, etc. e-verification codes for income tax filing, e-CAS downloads, Client Master Report, etc. STeADY SPICE Facilitates brokers to submit Enables clearing members to electronic contract notes containing digitally submit Power-of-Attorney/ trade information to custodians Demat Debit and Pledge instruction and fund managers in ISO 15022 (DDPI)-based delivery instructions message format. Fund Managers for debiting their account for are able to confirm and download trading obligations the contract note and submit instructions to custodians for settlement purposes in ISO formats 4 30 Years of Trust | Empowering India’s Growth | Shaping the Future Together About NSDL Annual Report 2025-26 5 CORPORATE OVERVIEW Value-added services DPM Plus Facilitates clients to opt-in/opt-out for nomination, update KYC attributes, submit account closure request, etc. Delivery Instruction Management System (DMS) Facilitates Participants to scan the Delivery Instruction Slips (DIS), sign the DIS images and store them in a tamper-proof [Showing first 8,000 characters — download PDF for full document]