CMS Info Systems Limited

rs,

CMSINFO/VSSD/2509/006 September 30, 2025 To BSE Limited Listing Department, 1st Floor, PJ Towers, Dalal Street, Fort, Mumbai – 400 001 National Stock Exchange of India Limited Exchange Plaza, C-

2X

omplex solution • Publicly listed company with a successful IPO wins • Clear market leader, >2X next competitor • Annuity + recurring revenue stream • Pan-India 97% districts network, unmatch

97%

ns • Clear market leader, >2X next competitor • Annuity + recurring revenue stream • Pan-India 97% districts network, unmatched competitive edge • Activity-based, annuity revenue stream ₹ 216 Cr

₹ 216

ndia 97% districts network, unmatched competitive edge • Activity-based, annuity revenue stream ₹ 216 Cr Revenue 2009 Banks ₹ 2,425 Cr Revenue 2015 2020 2025 Banks + Retail Banks + Retail + N

₹ 2,425

atched competitive edge • Activity-based, annuity revenue stream ₹ 216 Cr Revenue 2009 Banks ₹ 2,425 Cr Revenue 2015 2020 2025 Banks + Retail Banks + Retail + NBFCs + MFIs 100% Cash Logistics

100%

2009 Banks ₹ 2,425 Cr Revenue 2015 2020 2025 Banks + Retail Banks + Retail + NBFCs + MFIs 100% Cash Logistics 80 : 20 60 : 40 7 high margin B2B business lines, each with ~₹100 - 1,000 Cr reve

₹100

+ NBFCs + MFIs 100% Cash Logistics 80 : 20 60 : 40 7 high margin B2B business lines, each with ~₹100 - 1,000 Cr revenue FY 25 revenue mix Gaining wallet share ~18% ~27% ~55% ~84% subscription 60

18%

n B2B business lines, each with ~₹100 - 1,000 Cr revenue FY 25 revenue mix Gaining wallet share ~18% ~27% ~55% ~84% subscription 60% Cash Logistics 40% Managed Services & Tech Solns 25% 18%

27%

business lines, each with ~₹100 - 1,000 Cr revenue FY 25 revenue mix Gaining wallet share ~18% ~27% ~55% ~84% subscription 60% Cash Logistics 40% Managed Services & Tech Solns 25% 18% 20% 3

55%

ss lines, each with ~₹100 - 1,000 Cr revenue FY 25 revenue mix Gaining wallet share ~18% ~27% ~55% ~84% subscription 60% Cash Logistics 40% Managed Services & Tech Solns 25% 18% 20% 38% ~8

84%

es, each with ~₹100 - 1,000 Cr revenue FY 25 revenue mix Gaining wallet share ~18% ~27% ~55% ~84% subscription 60% Cash Logistics 40% Managed Services & Tech Solns 25% 18% 20% 38% ~85% rev

60%

0 - 1,000 Cr revenue FY 25 revenue mix Gaining wallet share ~18% ~27% ~55% ~84% subscription 60% Cash Logistics 40% Managed Services & Tech Solns 25% 18% 20% 38% ~85% revenue route based

“EBITDA% CY 24 $4.8 Bn Market Cap ~30X TTM P/E 20% Stock Price CAGR* *3 Yr CAGR The right lens for CMS 3 Yr.”

“PAT CAGR ~ ROCE (%) ~ EV/EBITDA ~ P/E Ratio 15% 9% 4% 9% 16% 3% 18% NA (12%) (13%) 15% (NQ) 25% 3% 16% 18% 50% <10% 9X 23X 17X 22X 27X 28X 17X 167X 33X 27X 40X 30X Route Logistics Business Services Source: Screener, Money control & public disclosures, as of Sept’25 CAGR FY 22 - FY 25 CMS 2030 summary Total services revenues ~ ₹4,500 - 4,750 Cr (Incl.”

Direct retail points

1

Vision AI Points

1

CMS BFSI Market Share

1

No. of ATMs

1

Direct retail points

Sector focused strategy Strengthened revenue market share position (+400 bps) Currency-in-Transit (No. of CMS Routes) 17% QSR Mar’ 23 Mar’ 25 30% Large Retail Format 38% 34% 36% 34% 11% CAGR ~ 1,175 ~ 1,400 30% 28% ~ 900 26% NBFC & Others The list is not exhaustive CMS estimates 27% E Com/ Logistics CMS Competitor 1 Others Mar’ 21 Mar’ 23 Mar’ 25 Bank branch expansion driving growth FY 30: Retail solutions & currency logistics outlook 11% growth potential Drivers Assumptions Revenue Estimates ~ ₹1,050 Cr to ~ ₹1,100 Cr Retail, E-commerce, NBFCs & Banks expanding branches/stores Expanding the market breadth beyond tier-II Banks consolidating currency chest operations Touch Points Growth 200K to 300K CMS Market Share 38% to 43% ~ ₹725 Cr to ~ ₹750 Cr ~ ₹640 Cr FY 25 FY 27 FY 30 TECHNOLOGY & PAYMENT SOLUTIONS Rapid scale-up of Vision AI solution (RMS) FY 22 - FY 25: ~90% revenue CAGR 15X growth in points Established BFSI market share leadership 30,000 25% 18% 15,000 2,000 10% 7% FY 22 FY

No. of ATMs

68K to 100K ~ ₹240 Cr Growth in new bank accounts opened Annual Growth of 7-10% FY 25 FY 27 FY 30 Vision AI revenue contribution in this business to increase from 50% to 70% I A n o i s i V S V M O G L A t n e m y a P s d r a C GROWTH OUTLOOK FY 26 seeing slower momentum due to macro & industry issues 18K ATM PSU bank RFP aggressive pricing & declining transaction trends leading to execution delays and stress on tier-II MSP balance sheet Large PSU bank cash outsourcing RFP formal order delayed, network ramp-up drag on cost Tepid consumption impacting ATM transactions + Retail churn & collection volumes MSP=Managed Services Provider AGS disruption dip of 15K ATMs in outsourcing base Accelerating key investments to drive sustainable long-term high-margin growth ₹15 Cr investment to scale GIG-based variable cost model to deepen presence in SURU Expanding Managed Services business into Pvt sector banks to reduce PSU bank share Converted ₹100 Cr one-time FY26 revenue win into ₹225 Cr long-t