Bajaj Finserv Limited

RS 2

NG FINANCE LIMITED ENVIRONMENTAL, SOCIAL AND GOVERNANCE 09. INDIA & BFSI OPPORTUNITY 10. OTHERS 2 PERFORMANCE SUMMARY Update for the quarter 3 Bajaj Finserv – Performance summary Q2 FY2026 and H1

11%

ed) Surplus Funds (Standalone) Book Value Per share (Consolidated) 37,403 33,704 2,244 2,087 11% 8% 72,854 65,184 5,033 4,225 12% 19% 9,995 8,303 20% 9,995 8,303 20% 133,822 8,872

8%

Surplus Funds (Standalone) Book Value Per share (Consolidated) 37,403 33,704 2,244 2,087 11% 8% 72,854 65,184 5,033 4,225 12% 19% 9,995 8,303 20% 9,995 8,303 20% 133,822 8,872 8,37

12%

alue Per share (Consolidated) 37,403 33,704 2,244 2,087 11% 8% 72,854 65,184 5,033 4,225 12% 19% 9,995 8,303 20% 9,995 8,303 20% 133,822 8,872 8,372 76,490 68,325 12% 76,490 68,

19%

Per share (Consolidated) 37,403 33,704 2,244 2,087 11% 8% 72,854 65,184 5,033 4,225 12% 19% 9,995 8,303 20% 9,995 8,303 20% 133,822 8,872 8,372 76,490 68,325 12% 76,490 68,325

20%

ated) 37,403 33,704 2,244 2,087 11% 8% 72,854 65,184 5,033 4,225 12% 19% 9,995 8,303 20% 9,995 8,303 20% 133,822 8,872 8,372 76,490 68,325 12% 76,490 68,325 12% 72,395 3,484

2%

% 133,822 8,872 8,372 76,490 68,325 12% 76,490 68,325 12% 72,395 3,484 3,546 479 428 2% 12% 3,484 3,546 479 428 2% 12% 2,140 454 * PAT includes unrealized mark-to-market (MTM) L

₹ 70 Crore

uity investments measured at fair value through profit and loss of Bajaj General and Bajaj Life of ₹ 70 Crore and ₹ 91 Crore respectively, for Q2 FY2026 as compared to MTM Gain of ₹ 35 Crore and MTM Loss of ₹

₹ 91 Crore

s measured at fair value through profit and loss of Bajaj General and Bajaj Life of ₹ 70 Crore and ₹ 91 Crore respectively, for Q2 FY2026 as compared to MTM Gain of ₹ 35 Crore and MTM Loss of ₹ 39 Crore respe

₹ 35 Crore

and Bajaj Life of ₹ 70 Crore and ₹ 91 Crore respectively, for Q2 FY2026 as compared to MTM Gain of ₹ 35 Crore and MTM Loss of ₹ 39 Crore respectively for Q2 FY2025. Also realized equity gain routed through OC

₹ 39 Crore

e and ₹ 91 Crore respectively, for Q2 FY2026 as compared to MTM Gain of ₹ 35 Crore and MTM Loss of ₹ 39 Crore respectively for Q2 FY2025. Also realized equity gain routed through OCI stands at ₹38 Crore for Ba

₹38 Crore

s of ₹ 39 Crore respectively for Q2 FY2025. Also realized equity gain routed through OCI stands at ₹38 Crore for Bajaj General and ₹6 Crore for Bajaj Life for Q2 FY2026 as compared to MTM realized gain of ₹

“Note: The components might not add up to total of 100% due to rounding off 47 Bajaj Life – Continuous focus on increasing protection to drive growth and profitability Retail Protection (NBP) Group Protection (NBP) All Figures in ₹ Crore 393 62% 254 156 241 168 2,371 2,315 2,616 7% 1,359 1,450 FY 23 FY 24 FY 25 H1 FY25 H1 FY26 FY 23 FY 24 FY 25 H1 FY25 H1 FY26 • Retail Protection grew by 62 % to ₹254 Crore in H1 FY2026 as against ₹ 156 Crore in H1 FY2025.”

“Any opinion, estimate or projection constitutes a judgment as of the date of this presentation, and there can be no assurance that future results or events will be consistent with any such opinion, estimate or projection.”

“No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness, correctness or fairness of the information, estimates, projections and opinions contained in this presentation.”

“By viewing this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.”

VIF

2

NAV

2

Behaviours

1

Notes

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Digital payment transactions

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Behaviours

Innovate to Simplify Talent Builder Continuous Transformation Do The Right Thing 16 What is achieved so far……. BAJAJ FINANCE (NBFC) BAJAJ GENERAL (P&C and Health) BAJAJ LIFE (Life insurance) • One of the largest wealth generator, value of ₹ 100 invested in 2000 = ₹ 261,950 in 2025 • Largest NBFC in India with AUM of ₹ 416,661 • 3rd largest P&C and Health insurer • Profitable since first full year • Among the most profitable insurers – crore • One of the most profitable NBFC in India with PAT of over ₹ 16,779 crore • Over 10 crore customer franchise • Transforming to BFL 3.0, A FIN AI company consistent industry beating COR (abs. 15% delta v/s industry) with superior ROE • Over 3 crore active customer franchise • Pan India geographical presence with broad and deep distribution • Fastest growing Life Insurance company in last 5 years on RWRP • VNB growth faster than RWRP growth: 5-year VNB CAGR of 38% and RWRP CAGR of 30% • Deep and diversified distribution across agency, Bancassurance a

Notes

1. Above numbers are on 1/n basis, Please refer slide no. 29 for further details 2. Return on Equity (ROE) is excluding fair value change. ROE (annualised @200% solvency) for H1 FY2026 is estimated to be at ~24% 28 Bajaj General – Impact of change in Regulations Q2 FY2026 H1 FY2026 FY2025 All Figures in ₹ Crore Particulars With 1/n impact Without 1/n impact With 1/n impact Without 1/n impact With 1/n impact Without 1/n impact Gross Written Premium Gross Written Premium Growth 6,413 9% 6,668 14% 11,615 9% 12,120 14% Gross Written Premium (Ex. Crop & Govt. Health) Gross Written Premium Growth (Ex. Crop & Govt. Health) 4,647 4,901 9,754 10,260 12% 18% 11% 16% 8% Combined Ratio (COR) 102.3% 101.4% 102.9% 101.9% 102.3% 21,583 5% 16,256 22,134 7% 16,807 12% 101.7% • With effect from 1 October 2024 Long-term Products are accounted on 1/n basis (‘n’ being contract duration), as mandated by IRDAI • The said change is a mere accounting change impacting Premium recognition and Combined Ratio and

NAV

11,792 FY2025 Unwinding VNB Operational Variance Investment Variance H1 FY2026 ( Before GST) Impact of GST H1 FY2026 VNB – Value of New Business, VIF – Value in Inforce, NAV – Net Asset Value 52 Bajaj Life – Focus on enhanced business quality backed by enhanced customer segments For the Period ended 30th Sep 2025 Persistency 13th Month 82% 84% 83% 85% 82% 72% Persistency 25th Month 74% 73% 73% 75% FY23 FY24 FY 25 H1 FY25 H1 FY26 FY23 FY24 FY 25 H1 FY25 H1 FY26 Persistency 37th Month 67% 66% 65% 64% 64% Persistency 49th Month 63% 64% 61% 65% 63% Persistency 61st Month 55% 55% 52% 52% 52% FY23 FY24 FY 25 H1 FY25 H1 FY26 FY23 FY24 FY 25 H1 FY25 H1 FY26 FY23 FY24 FY 25 H1 FY25 H1 FY26 Note : Persistency as per IRDAI framework; Individual business excluding single premium and fully paid-up policies. Persistency ratios for the year ended March have been calculated on April of that year for the policies issued in April to March period of the relevant years The persistency ratios for the year

Digital payment transactions

BFL, Bajaj General, Bajaj Life: 83% ,95.1% ,96.6% Financial Inclusion BFL new to credit customers - 6.7 MM BFL MFI branches – 418 covering 345k women customers PMJJBY (Bajaj Life) - 0.23 MM lives covered PMFBY (Bajaj General) – 19 MM farmers covered PMJAY-MA (Bajaj General) – 22 MM lives covered Empowering Society Human Capital Management CSR expenditure – ₹ 336 Crore Number of beneficiaries – 4.1 MM Impact Assessment - 26 projects CPBFI (Flagship Program): Active in 24 states, 100K beneficiaries (59% women), 47K new enrolments in FY2025 Gender Diversity ratio ~14% ISO 45001 certified (BFS & BFL HQ) Group IJP –15% rise in internal job movements (FY2024–FY2025) Women agents ~ 27% Total (Bajaj General: 22%, Bajaj Life: 33%) Stakeholder Engagement BRSR Assurance Reasonable Assurance for BRSR Core (Mandatory) and Limited Assurance for BRSR non-core disclosures (Voluntary) for all listed companies and material subsidiaries Community grievance redressal mechanism Live on BFS website (Bajaj F