Piramal Finance Limited

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12th December, 2025 BSE Limited 1st Floor, New Trading Wing, Rotunda Building, P. J. Towers, Dalal Street, Fort, Mumbai - 400 001 BSE Scrip Code: 544597 National Stock Exchange of India Lim

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AI In Action @ Piramal Finance Recognitions for AI Excellence What This Means For You As Investors 03 18 27 40 49 55 Piramal Finance – Our Journey So Far 3 We are now a retail-led NBFC. We have g

4X

40 49 55 Piramal Finance – Our Journey So Far 3 We are now a retail-led NBFC. We have grown ~4X in 4 years. (post merger with DHFL) Our AUM mix has fully pivoted; new Growth book is now 94% of t

94%

rown ~4X in 4 years. (post merger with DHFL) Our AUM mix has fully pivoted; new Growth book is now 94% of total AUM; ₹74,704 Cr Retail AUM In ₹ k Cr Growth (Retail + WS2.0) Legacy 49 88% 43 12%

₹74,704

s. (post merger with DHFL) Our AUM mix has fully pivoted; new Growth book is now 94% of total AUM; ₹74,704 Cr Retail AUM In ₹ k Cr Growth (Retail + WS2.0) Legacy 49 88% 43 12% 6 FY21 Pre-DHFL mer

88%

ok is now 94% of total AUM; ₹74,704 Cr Retail AUM In ₹ k Cr Growth (Retail + WS2.0) Legacy 49 88% 43 12% 6 FY21 Pre-DHFL merger 81 7 9 65 91 5 11 75 6% 94% Total AUM Legacy WS

12%

94% of total AUM; ₹74,704 Cr Retail AUM In ₹ k Cr Growth (Retail + WS2.0) Legacy 49 88% 43 12% 6 FY21 Pre-DHFL merger 81 7 9 65 91 5 11 75 6% 94% Total AUM Legacy WS2.0 Retai

6%

(Retail + WS2.0) Legacy 49 88% 43 12% 6 FY21 Pre-DHFL merger 81 7 9 65 91 5 11 75 6% 94% Total AUM Legacy WS2.0 Retail Total 65 43 0.5 22 69 15 6 48 64 29 3 32 FY

₹20

5 2 Y F 3 Q 5 2 Y F 4 Q 6 2 Y F 1 Q 6 2 Y F 2 Q Time taken for Retail NBFCs* AUM to grow from ₹20k Cr to ₹75k Cr Retail 345 325 305 285 265 245 225 205 185 165 145 125 10

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Q 5 2 Y F 4 Q 6 2 Y F 1 Q 6 2 Y F 2 Q Time taken for Retail NBFCs* AUM to grow from ₹20k Cr to ₹75k Cr Retail 345 325 305 285 265 245 225 205 185 165 145 125 105 85 65

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Y7 Y8 Y9 Years Source : Company data (*) 14 peers across Diversified, HFCs and Vehicle financiers 5 What is driving this level of Growth? 6 Growth Driver #1: Product expansion We have been steadily

9%

anches Share in retail AUM % 518 Conventional Branches 76 MFI Branches 1 1 19 1 19 8 13 9% 40 46 11% 6 30 25 5 6 3 7 13 1 83 18% 29 9% 1 30 52 9% 1 19 59 11% 518 3

“5 2 Y F 4 Q Sales Productivity Credit Manager Productivity 28 22 60 68 FY23 FY24 FY25 FY26 10,954 8,065 6,246 8,718 6,816 5,707 2,459 3,973 9,892 8,910 6,828 8,362 7,692 5,111 H1 FY25 H1 FY26 H1 FY25 H1 FY26 Q1 Q2 Q3 Q4 Overall Monthly Disb.”

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(*) Guidance of FY26 total PAT of ₹ 1,300-1,500 Cr led primarily by Growth business PBT 16 We are guided by a strong & experienced leadership team driving the scale-up Jairam Sridharan MD & CEO 25+ years 25+ years 20+ years 20+ years 15+ years 20+ years 20+ years Jagdeep Mallareddy CEO – Retail Sunit Madan Chief Operating Officer Saurabh Mittal Chief Technology Officer Markandey Upadhyay Chief Data & Analytics Officer Arvind Iyer Chief Marketing Officer Nirav Adani CFO – Retail Parneet Soni Head – HR Retail t c u d o r P s d a e H Syed Imtiaz Ahmed Head – Housing Finance Mayank Jain Head – LAP & UBL Kamesh Chaudhary Head – UCL Rajasekhar A Head – Personal Loans Vipul Agrawal Head – Partnerships 25+ years Ex- Axis Bank 20+ years Ex- Standard Chart., ICICI Bank 20+ years, Ex- Volkswagen FS, Toyota FS, ICICI Bank 25+ years Ex- Bajaj Finance, ICICI Bank 20+ years Ex- McKinsey, PWC Aakash Agrawal Head – Emerging Business 20+ years Ex- Edelweiss Financial, HP, Texas Instruments l o r t n o C

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(*) Deployed / under design 23 The fuel powering our AI efforts is a culture of learning, experimentation, and campus engagement We invest in people & skills via training, conferences, hiring We run Hackathons with top IITs, BITs to innovate on new technologies GEN AI Workshop At CYPHER Conference Application Scorecard Candidate Screening basis Interview and Resume 9 Microsoft Fabric Workshop Microsoft Office, USA Behavior Scorecard Car Valuation using Images 24 Which has brought us to Stage 3 of Tech transformation … Stage - 1 Stage - 2 Stage - 3 Digital Transformation Digitized our processes Cloud Native Transformation AI Native Transformation Enabled agility and scale for the Intelligence & Productivity @ scale business 25 …and enabled us to build a truly AI-Native ecosystem In the Business Piramal’s AI-Native Ecosystem 26 The Evolution Of AI 27 From Analyst to Partner: The 3 great stages of AI AI is not one technology, but three distinct stages of capability: from AI that analyses,

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(*) Arya is an internally developed AI bot intended solely for internal use to assist with queries and outputs related to the company operations and functions. It is not designed or authorized for any commercial use 42 1 Underwrite Better Top 5 Outcomes of Piramal.ai 5 Integrate & Build More 2 4 Enhance Productivity 3 Drive Growth Improve CX 43 Horizontal Risk (30+ at 6MOB) down YoY by 40%+ for each of the 3 consecutive years Fraud Risk (Straight flow 90+) down YoY by >50% for each of the 3 consecutive years 5.6% 4.7% Underwrite Better 1 4.7% 3.7% 2.3% 2.4% 1.8% 1.7% 2.9% 2.1% 1.8% 1.5% 1.3% 1.3% 1.1% 1.1% 1.0% 0.8% 0.6% 0.6% 0.4%0.4%0.3%0.2%0.3%0.2%0.1% 0.1% 2 2 Y F 3 Q 2 2 Y F 4 Q 3 2 Y F 1 Q 3 2 Y F 2 Q 3 2 Y F 3 Q 3 2 Y F 4 Q 4 2 Y F 1 Q 4 2 Y F 2 Q 4 2 Y F 3 Q 4 2 Y F 4 Q 5 2 Y F 1 Q 5 2 Y F 2 Q 5 2 Y F 3 Q 5 2 Y F 4 Q 2 2 Y F 3 Q 2 2 Y F 4 Q 3 2 Y F 1 Q 3 2 Y F 2 Q 3 2 Y F 3 Q 3 2 Y F 4 Q 4 2 Y F 1 Q 4 2 Y F 2 Q 4 2 Y F 3 Q 4 2 Y F 4 Q 5 2 Y F 1 Q 5 2 Y F 2 Q 5 2 Y F 3 Q 5 2 Y F

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“The Value Vector” Author: The Hindu column – Tech and Context 52 We have filed patents for our underlying AI solutions architecture 53 We continue to expand our engagement with the partner ecosystem across the spectrum Technology Partners Product Vendors Invited senior leadership team to MS headquarters where they will showcase their new AI innovations and products, showing tech collaborations Part of their Red team. Helping testing their models before they release in public We use ~8 Bn tokens per month with Claude only to write code. This puts us in top 1% of organizations that use AI to write code (incl. tech companies) 54 What This Means for You As Investors 55 4 Piramal.ai strategy is leading to tangible benefits across several dimensions 1. Underwrite Better 2. Enhance Productivity 3. Drive Growth Vintage Risk (30+ at 6MOB) - retail Productivity up YoY across Retail Lending Functions Consistent retail disbursement growth In ₹ Cr. % 6 5 . % 7 4 . % 7 3 . % 3 2 . % 4 2 . % 8 . 1 %