Ugro Capital Limited

rs,

h the Company presently believes to be reasonable in light of its operating experience in recent years, but these assumptions may prove to be incorrect. Potential investors must make their own assessme

32%

t realignment underway Focused verticals (Emerging Market + Embedded Merchant Finance) moved from 32% to 38% of AUM in one quarter. EM grew from INR 3,199 Cr to INR 3,581 Cr; Embedded Merchant Finance

38%

gnment underway Focused verticals (Emerging Market + Embedded Merchant Finance) moved from 32% to 38% of AUM in one quarter. EM grew from INR 3,199 Cr to INR 3,581 Cr; Embedded Merchant Finance from I

INR 3,199

ging Market + Embedded Merchant Finance) moved from 32% to 38% of AUM in one quarter. EM grew from INR 3,199 Cr to INR 3,581 Cr; Embedded Merchant Finance from INR 1,798 Cr to INR 2,280 Cr. Consolidated Opex

INR 3,581

bedded Merchant Finance) moved from 32% to 38% of AUM in one quarter. EM grew from INR 3,199 Cr to INR 3,581 Cr; Embedded Merchant Finance from INR 1,798 Cr to INR 2,280 Cr. Consolidated Opex base of UGRO an

INR 1,798

% of AUM in one quarter. EM grew from INR 3,199 Cr to INR 3,581 Cr; Embedded Merchant Finance from INR 1,798 Cr to INR 2,280 Cr. Consolidated Opex base of UGRO and Profectus combined was approx. INR 750 Cror

INR 2,280

quarter. EM grew from INR 3,199 Cr to INR 3,581 Cr; Embedded Merchant Finance from INR 1,798 Cr to INR 2,280 Cr. Consolidated Opex base of UGRO and Profectus combined was approx. INR 750 Crore (not reflected

INR 750 Crore

om INR 1,798 Cr to INR 2,280 Cr. Consolidated Opex base of UGRO and Profectus combined was approx. INR 750 Crore (not reflected in financial as consolidation is effective from December 8, 2025). This Opex base w

INR 490

ancial as consolidation is effective from December 8, 2025). This Opex base would be approximately INR 490+ Crore in FY27, reflecting this cost rationalization. 38% focus mix (Mar-26) INR 200 Cr- 220 Cr

INR 200

roximately INR 490+ Crore in FY27, reflecting this cost rationalization. 38% focus mix (Mar-26) INR 200 Cr- 220 Cr Annualized cost savings 03 04 Capital position strengthened Earnings quality inflecti

21.2%

d cost savings 03 04 Capital position strengthened Earnings quality inflection CAR improved to 21.2% (vs 20.8% in Dec-25), supporting the Feb-26 commitment of no incremental equity raise over the nex

20.8%

ings 03 04 Capital position strengthened Earnings quality inflection CAR improved to 21.2% (vs 20.8% in Dec-25), supporting the Feb-26 commitment of no incremental equity raise over the next three ye

“Q3’FY26 and Q4’FY26 reflects data on consolidated basis and Q4’FY25 reflects data on standalone basis.”

“The numbers for Q3’FY26 comprises numbers of Profectus from December 8th, 2025 hence the quarterly numbers may not be comparable 2.”

Note

2

Notes

1

Note

1. Q3’FY26 and Q4’FY26 reflects data on consolidated basis and Q4’FY25 reflects data on standalone basis. The numbers for Q3’FY26 comprises numbers of Profectus from December 8th, 2025 hence the quarterly numbers may not be comparable 2. Slide 14 Finance | Balance Sheet Balance Sheet (INR Cr) Assets Cash and Bank Balance Loans Investments Other financial assets Financial Assets PPE, Intangible assets, ROU etc Goodwill Current and Deferred tax assets (net) Other non-financial assets Non-Financial Assets Total Assets Mar-26 Balance Sheet (INR Cr) Mar-26 Liabilities 1,825 Trade payables 10,293 Debt securities 737 230 Borrowings (other than debt securities) Other financial liabilities 13,086 Financial liabilities 194 342 16 438 989 Non-financial liabilities Equity share capital Other equity Equity 14,075 Total Liabilities & Equity 59 3,220 7,562 123 10,964 205 153 2,753 2,906 14,075 Slide 15 Asset quality & collections Stable portfolio quality through transition; 98% collection efficiency

Notes

1. 2. Cannot be used for personal property purchase Operating in all sectors except a defined list of negative profiles of business such as liquor manufacturers, paan shops, coal traders etc, dairy business capped at INR 15L 3. 4. 5. CIBIL - Credit Information Bureau (India) Limited, CMR - CIBIL MSME Rank Geographical limits of 75 Kms from Telangana, Tamil Nadu, Rajasthan & Karnataka or 50km from MP, Maharashtra, Haryana, Gujarat & Delhi; all new locations to be 50km of a UGRO branch DSCR: Annual Net Income/(Existing EMI obligations + Proposed EMI obligations) Slide 25 Emerging Market Loan: Scaling through PAN-India branches ecosystem Strong on-ground sourcing and distribution through 1,300+ sales executives operating through 317 branches Rapidly increasing on-ground footprint Emerging market branches operate on a cluster-based approach… ..where each branch follows a set template # states 6 10 11 EM Branches 13 317 212 127 75 FY23 FY24 FY25 FY26 AUM - by geography 27% 44% INR 3,581 Cr

Note

1. High risk sector includes weaponry, munitions, tobacco, involved in child or forced labour, radioactive materials Slide 30 Thank you www.ugrocapital.com Slide 31