Nuvama Wealth Management Limited

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ownership: PAG (promoter of company), one of the largest Asia-based alternative investment managers 2. INDUSTRY OVERVIEW ▪ Integrated wealth management platform with exhaustive suite of offerings

31%

s of existence Integrated Wealth Management platform Proven Execution Revenue FY25: US $ 339 Mn-31% CAGR 4Y Operating PAT FY25: US $ 115 Mn-49% CAGR 4Y 1. All figures are as on 31st March 2025 unles

49%

t platform Proven Execution Revenue FY25: US $ 339 Mn-31% CAGR 4Y Operating PAT FY25: US $ 115 Mn-49% CAGR 4Y 1. All figures are as on 31st March 2025 unless mentioned otherwise 4 Majority owned by

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

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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

19%

NE NUVAMA 10 A HIGH GROWTH COMPANY with diversified and superior quality of earnings Revenue +19% 184 119 +41% 339 167 +31% 241 139 All figures are in US $ Mn % are YoY 117 57 39 19 - F

41%

A HIGH GROWTH COMPANY with diversified and superior quality of earnings Revenue +19% 184 119 +41% 339 167 +31% 241 139 All figures are in US $ Mn % are YoY 117 57 39 19 - FY21 +32% 155

32%

119 +41% 339 167 +31% 241 139 All figures are in US $ Mn % are YoY 117 57 39 19 - FY21 +32% 155 88 45 20 2 FY22 39 19 8 FY23 56 38 7 FY24 89 77 7 FY25 Wealth Management As

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STRY OVERVIEW ▪ Alternatives markets in India - poised to transform backed by strong growth drivers 3. YEAR GONE BY and scalable opportunity ▪ Making this a self-reinforcing loop culminating in a str

6.5x

EGY 12 India’s wealth landscape - powered by secular growth trends PRESENT WEALTH TO GDP USA 6.5x INDIA 4.5x SHARE OF FINANCIAL WEALTH USA 70% INDIA 25% PROFESSIONALLY MANAGED WEALTH USA

4.5x

a’s wealth landscape - powered by secular growth trends PRESENT WEALTH TO GDP USA 6.5x INDIA 4.5x SHARE OF FINANCIAL WEALTH USA 70% INDIA 25% PROFESSIONALLY MANAGED WEALTH USA 75% INDIA 1

“Journey over years All figures are in US $ Mn CLIENT ASSETS - ASSET SERVICES REVENUES - ASSET SERVICES 4Y CAGR 47% 14,742 10,661 4Y CAGR 41% 4,527 5,091 3,164 19 20 19 77 38 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 REVENUES - CAPITAL MARKETS 4Y CAGR 23% 39 45 39 89 56 FY21 FY22 FY23 FY24 FY25 53”

“Performance Metrics Revenue - Asset Services (US $ Mn and YoY) Revenue - Capital Markets (US $ Mn and YoY) Profit Before Tax (US $ Mn and YoY) +99% 77 +59% 89 56 127% 100 +85% 23 13 38 +16% 19 16 63% 25 16 44 Q4 FY24 Q4 FY25 FY24 FY25 Q4 FY24 Q4 FY25 FY24 FY25 Q4 FY24 Q4 FY25 FY24 FY25 1.”

“Capital Markets Q4 revenues grew by 16% YoY a) Equity markets witnessed some softness in Q4 FY25 b) Continued to sustain market share in IE and IB deal pipeline continues to remain strong 54 Contents Summary 1.”

“Profits in last 4 years for Wealth grew at CAGR of 69% and Asset Services & Capital Markets at CAGR of 43%.”

“Commercial Real Estate Fund - JV with Cushman & Wakefield 58 Well DEFINED TRAJECTORY for each segment STRATEGY FOCUS AREAS EXECUTION MARKERS Sep’23 In 5 years grow clients assets to 2-2.5x or 15-20% CAGR 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.”

Nuvama Asset Services and Capital Markets

2

Improved market share

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 52

Nuvama Asset Services and Capital Markets

Journey over years All figures are in US $ Mn CLIENT ASSETS - ASSET SERVICES REVENUES - ASSET SERVICES 4Y CAGR 47% 14,742 10,661 4Y CAGR 41% 4,527 5,091 3,164 19 20 19 77 38 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 REVENUES - CAPITAL MARKETS 4Y CAGR 23% 39 45 39 89 56 FY21 FY22 FY23 FY24 FY25 53

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) +99% 77 +59% 89 56 127% 100 +85% 23 13 38 +16% 19 16 63% 25 16 44 Q4 FY24 Q4 FY25 FY24 FY25 Q4 FY24 Q4 FY25 FY24 FY25 Q4 FY24 Q4 FY25 FY24 FY25 1. Asset Services Q4 revenues grew by 85% YoY, driven by continued momentum from both FII and DII client segments 2. Capital Markets Q4 revenues grew by 16% YoY a) Equity markets witnessed some softness in Q4 FY25 b) Continued to sustain market share in IE and IB deal pipeline continues to remain strong 54 Contents Summary 1. ABOUT US ▪ Necessary fundamentals in place 2. INDSUTRY OVERVIEW ▪ Adequately capitalized to achieve future goals ▪ Well defined trajectory for each segment 3. YEAR GONE BY 4. PERFORMANCE UPDATE 5. STRATEGY 55 Our STRATEGIC ADVANTAGE Strong promoter with experienced management team PAG, promoter of the company, a leading investment firm, with AUM of ~USD 57 billion Management team wi

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: Slide 13: Slide 14: 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 IMF, OECD, Federal Reserve, Karvy Wealth Reports, World Bank, Credit Suisse Global Wealth Reports 2021,2022, Citi Research, Financial Times and internal company estimates Avendus, AMFI, SEBI, Preqin, BCG r