Nuvama Wealth Management Limited

27%

of existence Integrated Wealth Management platform Proven Execution Revenue FY24: US $ 247 Mn - 27% CAGR 3Y Operating PAT FY24: US $ 71 Mn - 44% CAGR 3Y 1. All figures are as on 31st December 2024 u

44%

platform Proven Execution Revenue FY24: US $ 247 Mn - 27% CAGR 3Y Operating PAT FY24: US $ 71 Mn - 44% CAGR 3Y 1. All figures are as on 31st December 2024 unless mentioned otherwise 4 Majority owned

rs 6

nboarding, Transactions Servicing, Reporting, Advice Empowering Clients and Relationship Managers 6 Evolved from individual businesses into an INTEGRATED WEALTH MANAGEMENT PLATFORM 2. Global Partne

rs 1

xperience and accelerating business growth acquires a controlling stake New Brand & Headquarters 1. Built Businesses - Backed By High- quality Parentage Wealth & Asset Management Asset Services

75%

over client segments constituting majority of wealth ~35K Households ~30 lacs Households 70-75% of total financial wealth UHNI HNI & AFFLUENT MASS MARKET RETAIL 9 UNIQUE BUSINESS MODEL

32%

superior quality of earnings All figures are in US $ Mn % are YoY 120 90 58 40 20 - FY21 +32% 158 20 2 FY22 Revenue +19% 189 122 47 40 +31% 247 142 Wealth & Asset Management le

19%

l figures are in US $ Mn % are YoY 120 90 58 40 20 - FY21 +32% 158 20 2 FY22 Revenue +19% 189 122 47 40 +31% 247 142 Wealth & Asset Management leading the growth 57 39 19 8

31%

% are YoY 120 90 58 40 20 - FY21 +32% 158 20 2 FY22 Revenue +19% 189 122 47 40 +31% 247 142 Wealth & Asset Management leading the growth 57 39 19 8 FY23 8 FY24 Wealth

30%

Focused execution delivering STRONG AND SUSTAINABLE OUTCOMES All figures are in US $ Mn 3Y CAGR 30% CLIENT ASSETS 36% 54,137 41,432 39,686 25,508 27,674 18,999 REVENUES 247 3Y CAGR 27% 18

36%

livering STRONG AND SUSTAINABLE OUTCOMES All figures are in US $ Mn 3Y CAGR 30% CLIENT ASSETS 36% 54,137 41,432 39,686 25,508 27,674 18,999 REVENUES 247 3Y CAGR 27% 189 158 120 45% 255

45%

TS 36% 54,137 41,432 39,686 25,508 27,674 18,999 REVENUES 247 3Y CAGR 27% 189 158 120 45% 255 176 FY21 FY22 FY23 FY24 9M FY24 9M FY25 FY21 FY22 FY23 FY24 9M FY24 9M FY25 OPERATI

76%

9M FY25 FY21 FY22 FY23 FY24 9M FY24 9M FY25 OPERATING PAT 71 50 3Y CAGR 44% 44 35 24 76% 88 3Y DELTA 11% COST TO INCOME 73% 70% 69% 62% 63% 9% 54% FY21 FY22 FY23 FY24 9M FY2

“Journey over years All figures are in US $ Mn CLIENT ASSETS - ASSET SERVICES REVENUES - ASSET SERVICES 57% 15,607 10,917 9,936 3Y CAGR 50% 4,636 5,213 3,240 3Y CAGR 25% 20 20 19 39 26 107% 55 FY21 FY22 FY23 FY24 9M FY24 9M FY25 FY21 FY22 FY23 FY24 9M FY24 9M FY25 REVENUES - CAPITAL MARKETS (IE & IB) 3Y CAGR 12% 40 47 40 57 40 77% 71 FY21 FY22 FY23 FY24 9M FY24 9M FY25 43”

“Performance Metrics Revenue - Asset Services (US $ Mn and YoY) Revenue - Capital Markets (US $ Mn and YoY) Profit Before Tax (US $ Mn and YoY) +107% 55 +77% 21 12 26 +25% 21 17 +77% 71 40 162% 77 77% 26 14 29 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Q3 FY24 Q3 FY25 9M FY24 9M FY25 1.”

“Profits in last 3 years for Wealth grew at CAGR of 92% CAGR and Asset Services & Capital Markets at CAGR of 22%.”

“Commercial Real Estate Fund - JV with Cushman & Wakefield 50 Well DEFINED TRAJECTORY for each segment STRATEGY FOCUS AREAS EXECUTION MARKERS Sep’23 In 5 years grow clients assets to 2-2.5x or 20% CAGR Dec’24 Asset Services Grow assets under Clearing and Custody International Institutional Domestic Institutional Enterprise (Technology Client Group Client Group (AIF, PMS) and Operations) Grow clients and expand Grow clients and Get future ready to footprint.”

“Increase invest in areas of strength proposition automation, improve Achieved CAGR client experience and of 73% YoY enhance controls 51 ESG: We continue to make progress Environment Social Governance o US GBC Gold certified head office for interior designing o Minimizing scope 2 emissions by procuring green energy for Mumbai Corporate Office.”

“Emissions stood at 1,910 tCO2e for 9M FY25 o Waste reduced to 162 MT in 9M FY25 (segregation practices implemented) o All e-waste is disposed via certified vendors o Water saving initiatives undertaken like sensors and aerators in taps, dual flush system, etc.”

“o o Awareness around conscious usage of natural resources Introduced recycled tissue papers in Head Office o o ISO 27001 for information security management system 9M FY25 NPS at 74 o Gender diversity as of Dec’24 stood at 25% across organization, 12.7% at senior management and 11.1% at Board o o o o 3 differently abled employees across the firm as of Dec’24 100+ manhours of skill development trainings conducted for all employees while supporting professional courses such as GARP FRM, CFA, etc.”

Nuvama Asset Services and Capital Markets

2

Improved market share

1

Select awards this fiscal

1

DISCLAIMER

1

NOTES

1

Improved market share

~20% of relevant new clients in our select segments c) Won accolades: Recognized by global industry bodies as ‘The leading custodian’ and won many other awards WM: Wealth Management, AM: Asset Management, AS: Asset Services and CM: Capital Markets 42

Nuvama Asset Services and Capital Markets

Journey over years All figures are in US $ Mn CLIENT ASSETS - ASSET SERVICES REVENUES - ASSET SERVICES 57% 15,607 10,917 9,936 3Y CAGR 50% 4,636 5,213 3,240 3Y CAGR 25% 20 20 19 39 26 107% 55 FY21 FY22 FY23 FY24 9M FY24 9M FY25 FY21 FY22 FY23 FY24 9M FY24 9M FY25 REVENUES - CAPITAL MARKETS (IE & IB) 3Y CAGR 12% 40 47 40 57 40 77% 71 FY21 FY22 FY23 FY24 9M FY24 9M FY25 43

Nuvama Asset Services and Capital Markets

Performance Metrics Revenue - Asset Services (US $ Mn and YoY) Revenue - Capital Markets (US $ Mn and YoY) Profit Before Tax (US $ Mn and YoY) +107% 55 +77% 21 12 26 +25% 21 17 +77% 71 40 162% 77 77% 26 14 29 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Q3 FY24 Q3 FY25 9M FY24 9M FY25 1. Asset Services revenues grew by 77% YoY, led by continued momentum in onboarding new and scaling existing clients 2. Capital Markets revenues grew by 25% YoY a) Sustained IE market share and closed multiple marquee deals in IB across equity and debt products b) Nuvama Investment Banking Improved market share1 across equity and debt offerings. Equity IPO market share doubled from 9.1% (CY23) to 18.4% (CY24) and secured #1 rank in public debt issues 1. Source Prime database and ranking by deal values 44 WE ARE DOING IT RIGHT Building Wealth, Garnering Accolades Recognized by reputed industry bodies across business segments

Select awards this fiscal

o Best Performer in Equities Derivatives – Institution - Bombay Stock Exchange (BSE) India, 2024 o The Best Digital Onboarding Application Of The Year – Dine with Alphasec, 2024 o Best – BSFI by BW – Merit Awards, 2024 o Outstanding Private Bank for UHNW Clients by Private Banker International Global Wealth Awards, 2024 o Outstanding Wealth Management Technology Initiative – Back Office by Private Banker International Global Wealth Awards, 2024 o Best Private Bank – India Award by The Asset Triple A Private Capital Awards, 2024 45 Contents Summary 1. ABOUT US ▪ Necessary fundamentals in place ▪ Adequately capitalized to achieve future goals ▪ Well defined trajectory for each segment 2. INDUSTRY LANDSCAPE 3. PERFORMANCE OVERVIEW 4. STRATEGY 46 Our STRATEGIC ADVANTAGE Strong promoters with experienced management team PAG, promoter of the company, is a leading investment firm, with AUM of ~USD 58 billion Management team with visionary leadership having experienced multiple business cycles

DISCLAIMER

This presentation and the discussion may contain certain words or phrases that are forward-looking statements, which are tentative, based on current expectations of the management of Nuvama Wealth Management Limited or any of its subsidiaries, associate companies and joint ventures (“Nuvama”). Actual results may vary from the forward-looking statements contained in this presentations due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of Nuvama as well as the ability to implement its strategy. The information contained herein is as of the date referenced and Nuvama does not undertake any obligation to update these statements. Nuvama has obtained all market data and other information from sources believed to be reliable or are its internal estimates unless ot

NOTES

Slide 7: Slide 8: Slide 9: Slide 11: Pursuant to approvals received from SEBI and exchanges, Nuvama Wealth Management Limited was listed on BSE and NSE on 26th September 2023 Company research and estimates Kotak Wealth Report, Karvy Wealth Report, Mckinsey Wealth Reports, Credit Suisse Global Wealth Reports | 2017-2022 and company estimates Revenue incorporates impact of phase 3 demerger to include merchant banking & advisory services businesses. Revenue calculated by reducing finance cost and variable business expenses from gross revenue. Total revenue includes minor amount towards corporate and eliminations - FY21 US $ 1 Mn, FY22 US $ (1) Mn, FY23 US $ 0.24 Mn and FY24 US $ 1 Mn. Asset Management business was started in FY21 and new schemes were launched in FY22 Slide 13-14: Source for data points are IMF, OECD, Federal Reserve, Karvy Wealth Reports, World Bank, Credit Suisse Global Wealth Reports 2021,2022, Citi Research and BSE Slide 15: Source: AMFI, SEBI, IRDAI, IBEF and BCG repo