One Mobikwik Systems Limited

10%

(2) Amongst Top 3 (3) Fastest Growing UPI Apps 183.5 Mn Registered User Base 30 Sep 2025 +10% YoY 2,816 | 2,793 Total Income (INR Mn) Q1FY26 | Q2FY26 Stable 4.71 Mn Merchants 30 Sep 2025

7%

oY 2,816 | 2,793 Total Income (INR Mn) Q1FY26 | Q2FY26 Stable 4.71 Mn Merchants 30 Sep 2025 +7% YoY 774 | 961 Contribution Profit Q1FY26 | Q2FY26 +24.1% QoQ 3.3 Mn Users 71 K Merchants New

24.1%

Stable 4.71 Mn Merchants 30 Sep 2025 +7% YoY 774 | 961 Contribution Profit Q1FY26 | Q2FY26 +24.1% QoQ 3.3 Mn Users 71 K Merchants Newly added in Q2FY26 (312 ) | (64 ) EBITDA Q1FY26 | Q2FY26 +

rs 71

chants 30 Sep 2025 +7% YoY 774 | 961 Contribution Profit Q1FY26 | Q2FY26 +24.1% QoQ 3.3 Mn Users 71 K Merchants Newly added in Q2FY26 (312 ) | (64 ) EBITDA Q1FY26 | Q2FY26 +80% QoQ 1) By GTV of D

80%

QoQ 3.3 Mn Users 71 K Merchants Newly added in Q2FY26 (312 ) | (64 ) EBITDA Q1FY26 | Q2FY26 +80% QoQ 1) By GTV of Digital Wallet as of Sep’25 2) By GTV as of Sep’25 3) Based on NPCI data for top

3.5x

kout, QR, Soundbox and EDC products 9 Payments: Amongst Top 3 Fastest Growing UPI Apps; Explosive 3.5x YoY Growth Header Customer Initiated UPI Transactions (Mn) 40.12 54.09 3.5X Growth YoY 100.0

3.5X

I Apps; Explosive 3.5x YoY Growth Header Customer Initiated UPI Transactions (Mn) 40.12 54.09 3.5X Growth YoY 100.05 77.65 138.26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 UPI Continues to be

2X

ment & credit products to drive ARPU & LTV Customer Initiated UPI GMV (Bn) 84.08 94.16 2X Growth YoY 119.59 135.52 Robust QoQ Growth: • Customer Initiated UPI 173.51 Transactions

38%

9.59 135.52 Robust QoQ Growth: • Customer Initiated UPI 173.51 Transactions (Mn) grew by 38% • Customer Initiated UPI GMV (INR Bn) grew by 28% Top 3 Fastest Growing UPI Apps (1) in Ind

28%

ted UPI 173.51 Transactions (Mn) grew by 38% • Customer Initiated UPI GMV (INR Bn) grew by 28% Top 3 Fastest Growing UPI Apps (1) in India’s UPI Ecosystem Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY2

53%

top 20 TPAPs as per transaction count for Q2FY26 Vs Q1FY26 10 Payments: Momentum Accelerates with 53% YoY GMV Header Surge in Q2FY26 Payments GMV (INR Bn) Registered Users (Mn) Merchants (Mn) 43

3%

Scaling Faster Every Quarter: GMV at Record Highs Payments GMV grew 53% YoY in Q2FY26 along with 3% QoQ (Highest Quarterly Numbers) Driving 9.9% YoY Registered User Growth User base at 183.5 Mn, 3.3

“Header Peer Analysis 105 84 76 77 Revenue (INR Bn) 12 15 18 17 6 8 13 16 17 18 23 26 6 9 12 11 Paytm Fino Payments Bank Zaggle Pine Labs MobiKwik FY23 FY24 FY25 FY26 (Annualized)* EBITDA (INR Mn) 1,361 1,914 2,344 475 706 1,141 613 297 2,347 372 - 559 - 794 - 9,070 - 16,320 Paytm - 15,070 Fino Payments Bank FY23 Zaggle FY24 FY25 Pine Labs MobiKwik *FY26 numbers annualized basis H1 FY26 Revenues”

“Header Generating Higher Revenues per unit of Capital Employed Capital Efficiency (Revenue/Capital Employed) 4.11 4.74 3.14 1.26 0.62 0.39 1.10 1.31 0.77 0.47 0.50 1.96 1.18 1.05 0.62 FY23 FY24 FY25 Paytm Fino Payments Bank Zaggle Pine Labs MobiKwik Company Fino Payments Bank MobiKwik Zaggle PineLabs PayTM Price to Revenue FY24 1.60 - 4.48 - 2.43 FY23 1.38 - - - 4.80 FY25 1.03 1.98 3.64 - 6.55 FY26 * (Annualized) 1.34 1.62 2.96 10.69 10.98 *FY26 numbers annualized basis H1 FY26 Revenues”

Financial Services

3

Competitive Landscape

2

Source

2

Growth Driver

1

Robust QoQ Growth

1

Payments

1

Growth Driver

• Continue to e ngage high - quality UPI users leveraging payment & credit products to drive ARPU & LTV Customer Initiated UPI GMV (Bn) 84.08 94.16 2X Growth YoY 119.59 135.52

Robust QoQ Growth

• Customer Initiated UPI 173.51 Transactions (Mn) grew by 38% • Customer Initiated UPI GMV (INR Bn) grew by 28% Top 3 Fastest Growing UPI Apps (1) in India’s UPI Ecosystem Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 1) Based on NPCI data for top 20 TPAPs as per transaction count for Q2FY26 Vs Q1FY26 10 Payments: Momentum Accelerates with 53% YoY GMV Header Surge in Q2FY26 Payments GMV (INR Bn) Registered Users (Mn) Merchants (Mn) 432 384 172 176 167 180 183 4.40 4.51 4.59 4.64 4.71 331 294 283 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Scaling Faster Every Quarter: GMV at Record Highs Payments GMV grew 53% YoY in Q2FY26 along with 3% QoQ (Highest Quarterly Numbers) Driving 9.9% YoY Registered User Growth User base at 183.5 Mn, 3.3 Mn new users onboarded during Q2FY26 Strengthened Merchant Base with Uptick of 7% YoY Merchant base reached 4.71 Mn, with 71k new additions in Q2FY26 11 Payments: Gross Profit continues uptick with 71%

Payments

Header Consistently Delivering Industry leading Net Payments Margin Unit Economics of Payments Business (bps ) (1) Particulars (in bps) Q2FY25 Q3FY25 Q4 FY25 Q1FY26 Q2FY26 Payments Revenue (1) Payments Gateway Costs (1) User Incentive costs (1) Net Payments Margin (2) 66 (48 ) (6) 13 67 (49 ) (5) 13 64 (44 ) (4) 15 56 (37 ) (4) 15 48 (3 1) (3) 14 Despite growing 53% YoY in Payments GMV, Payments Net Margins consistently improved over the quarters • • Increase of UPI share in overall Payments Business from 30% to 40% has led to reduction in both Revenue and Payment Gateway c During the period we have also renegotiated non - UPI Payment Gateway costs and halved User Incentive costs from 6 bps to 3 bps ost s on a unit economics basis 1) All numbers in % of Payments GMV 2) Net Payments Margin - Profit earned from processing payments 13

Financial Services

Header Margin Making A Strong Comeback, Gross Profit climbs 231% QoQ Digital Credit GMV (Distribution) (INR Mn) Revenue from Financial Services (INR Mn) & Gross Margin (%) (1) 9,501 6,758 3,068 3,979 1,538 5,272 6,931 8,071 Financial Services GM (%) (1) Revenue 48.0% (3) 10.1% 4.3% 13.3% 41.8% 1,271 730 562 583 613 Gross Profit 609.86 73.70 661.39 656.00 Lending related Expense 24.08 537.89 77.36 505.70 256.09 356.66 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 ZIP Disbursal ZIP EMI Disbursal Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 ZIP EMI Up 19.4 % YoY, Regaining Prior Highs Substantially Increased Margins Resulting in INR 179 Mn QoQ Gain in Gross Profit Growing Optimism in lending partners for long term product ZIP EMI shows positive signs in bank lending with good • • Market Sentiment loan recovery trends • • Revenue increases Lending expenses by 5% QoQ with increase of 16% in Digital credit GMV reduced by 29 % QoQ and 46 % YoY 1) % of Financial Services Revenue 2) FS Take rate is as a % of Digita

Financial Services

Header Net FS Margin Normalizes - Jumps 3X in a Quarter Unit Economics of Financial Services (as a % of Digital Credit GMV) Particulars Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Revenue from Financial Services (1) Lending Related Expense (1) Net Financial Services Margin (1) 7.82 % 10.36 % 8.25 % 8.41 % 7.59 % (4.07 ) % (9.31) % (7.90) % (7.30) % (4.42) % 3.75 % 1.05 % 0.35 % 1.11 % 3.17 % Macro Factors Resulting in Temporary Dip in Financial Services Revenue • • • Pressure from RBI against BNPL product, & headwinds Imposition of 5% FLDG Cap, loaded while revenues are back - ended As a result of the above, have finally normalised in Q2 FY 26 . there have been higher expenses towards small - ticket unsecured lending . leading to fresh lending contracts where FLDG costs are front - between Q3 FY 25 to Q1 FY 26 , which Q2 FY 26 Witnessed Enhanced Net Financial Services Margin on the back of Optimized Costs • • • Take rate moderately stable at 7.6 % Lending Related Expense has decreased QoQ (2 )

Competitive Landscape

Header Peer Analysis 105 84 76 77 Revenue (INR Bn) 12 15 18 17 6 8 13 16 17 18 23 26 6 9 12 11 Paytm Fino Payments Bank Zaggle Pine Labs MobiKwik FY23 FY24 FY25 FY26 (Annualized)* EBITDA (INR Mn) 1,361 1,914 2,344 475 706 1,141 613 297 2,347 372 - 559 - 794 - 9,070 - 16,320 Paytm - 15,070 Fino Payments Bank FY23 Zaggle FY24 FY25 Pine Labs MobiKwik *FY26 numbers annualized basis H1 FY26 Revenues