SBI Cards and Payment Services Limited

rs,

October 24, 2025 The BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 The National Stock Exchange of India Limited Exchange Plaza, C-1

4%

ey Highlights for Q2 FY26 Continued growth in spends, Credit cost lower QoQ New A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables

7%

ghts for Q2 FY26 Continued growth in spends, Credit cost lower QoQ New A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,84

10%

inued growth in spends, Credit cost lower QoQ New A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ

1%

th in spends, Credit cost lower QoQ New A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 4

₹ 107,063

edit cost lower QoQ New A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ

31%

QoQ New A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ Cost t

15%

A/cs 9.36 lacs  4% YoY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ Cost to Income

₹ 59,845

oY  7%QoQ CIF 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ Cost to Income 56.8%  339 bps YoY  649

8%

F 2.15 Cr  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ Cost to Income 56.8%  339 bps YoY  649 bps QoQ

6%

r  10% YoY  1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ Cost to Income 56.8%  339 bps YoY  649 bps QoQ ROAA 2

₹ 445

1% QoQ Spends ₹ 107,063 Cr  31% YoY  15% QoQ Receivables ₹ 59,845 Cr  8% YoY  6% QoQ PAT ₹ 445 Cr  10%YoY  20% QoQ Cost to Income 56.8%  339 bps YoY  649 bps QoQ ROAA 2.6%  4 bps YoY 

“Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Credit Cost Credit Cost 1,212 GWO 1,106 Provision 107 1,313 1,354 1,245 1,303 1,352 1,280 72 1,293 1,281 7% YOY 4% QOQ Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 12 Q2 FY26 (41) (59) ▪ ▪ Revenue marginally higher with higher spend based income COF lower at 6.4% vs 7.1% in previous quarter ▪ Higher Operating cost driven by higher spend based cost towards campaign & offers and higher corporate pass-back ▪ Credit cost declines to 9.0% vs 9.6% in previous quarter.”

“Each campaign was crafted to build intrigue, highlight key benefits, and drive maximum clicks—capturing strong interest across target audiences.”

“Such statement typically contain the terms / phrases (including but not limited to) “will”, “believe”, “aim”, “may”, “would”, “expect”, “would /may result”, “goal”, “strategy”, “anticipate”, “intend”, “seek”, “plan”, “objective”, “contemplate”, “project”, “anticipate”, etc., These statements are neither factual nor do they constitute any historical information about the Company and are subject to change / uncertainties in future.”

Key Insights

2

Key Insights

Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Corporate Spends (₹ Cr) ▪ New accounts sourcing steady in the range of ~9-10 lacs level 5,495 5,301 8,656 10,840 218% YOY 61% QOQ 17,452 ▪ Continued growth in Retail Spends, Corporate spends increasing profitably ▪ Receivables grew by ~8% YoY and IBNEA at ~56%; High transactor volume at quarter end Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 6 Portfolio Growth Spend per Card (₹ ‘000) Receivable per Card (₹) 169 158 173 162 172 177 155 157 201 168 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Ret+Corp Ret 30-day Retail spend active rate % 52% 52% 51% 52% 53% 28,387 27,052 26,816 26,710 27,832 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Receivables(₹ Cr)/Mix % 55,601 54,773 55,840 59,845 56,607 Interest Earning Receivables 60% 37% 23% 40% 36% 24% 40% 35% 24% 41% 60% 36% 24% 40% 56% 34% 22% 44% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Transactor Revolver EMI 7 Retail Spends Insights Online Spend % 62.5% 56.9% 57.9% 58.9% 54.

Key Insights

Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Credit Cost Credit Cost 1,212 GWO 1,106 Provision 107 1,313 1,354 1,245 1,303 1,352 1,280 72 1,293 1,281 7% YOY 4% QOQ Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 12 Q2 FY26 (41) (59) ▪ ▪ Revenue marginally higher with higher spend based income COF lower at 6.4% vs 7.1% in previous quarter ▪ Higher Operating cost driven by higher spend based cost towards campaign & offers and higher corporate pass-back ▪ Credit cost declines to 9.0% vs 9.6% in previous quarter. Continued focus on collections, portfolio action & quality underwriting 10 P&L Summary Total Income -Revenue from Operations -Interest Income -Fees & Other Revenue -Other Income Interest Cost Operating Cost Earning Before Credit Cost Impairment on Financial Instruments PBT PAT Key Metrics Yield COF NIM Cost to Income Credit Cost ROA Q2 FY26 Q1 FY26 QoQ 5,136 4,961 2,490 2,471 175 760 2,484 1,892 5,035 4,877 2,493 2,384 158 813 2,123 2,100 1,293 1,352 600 445 748 556 2% 2% 0% 4% 11% -6% 17% -10% -4% -2