Mahindra & Mahindra Financial Services Limited

rs,

24th April 2026 To, BSE Limited, (Scrip Code: 532720) Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 National Stock Exchange of India Ltd., (Symbol: M&MFIN) Exc

19%

ess Transformation through Digital and AI Asset quality stabilized Strengthened to Scale PAT up 19% for F26; 55% Q4F26 (PAT up 30% F26; 84% Q4F26 adjusting labour code & Q4 overlays) 100% onboardin

55%

ation through Digital and AI Asset quality stabilized Strengthened to Scale PAT up 19% for F26; 55% Q4F26 (PAT up 30% F26; 84% Q4F26 adjusting labour code & Q4 overlays) 100% onboarding, 100% coll

30%

ital and AI Asset quality stabilized Strengthened to Scale PAT up 19% for F26; 55% Q4F26 (PAT up 30% F26; 84% Q4F26 adjusting labour code & Q4 overlays) 100% onboarding, 100% collections GS3 at 3.

84%

AI Asset quality stabilized Strengthened to Scale PAT up 19% for F26; 55% Q4F26 (PAT up 30% F26; 84% Q4F26 adjusting labour code & Q4 overlays) 100% onboarding, 100% collections GS3 at 3.4% GS2 +G

100%

le PAT up 19% for F26; 55% Q4F26 (PAT up 30% F26; 84% Q4F26 adjusting labour code & Q4 overlays) 100% onboarding, 100% collections GS3 at 3.4% GS2 +GS3 (8.2%) lowest in 8 years Investments in contr

3.4%

0% F26; 84% Q4F26 adjusting labour code & Q4 overlays) 100% onboarding, 100% collections GS3 at 3.4% GS2 +GS3 (8.2%) lowest in 8 years Investments in controls, place- product, channel, systems, capi

8.2%

26 adjusting labour code & Q4 overlays) 100% onboarding, 100% collections GS3 at 3.4% GS2 +GS3 (8.2%) lowest in 8 years Investments in controls, place- product, channel, systems, capital; driven by

2.4%

ality stabilized Strengthened to Scale Visible step-up in profitability 1 2 3 4 Q4F26 ROA is 2.4% vs 1.7% in Q4F25; F26 is 2.0% compared to 1.9% in F25 Q4 PAT grew 55% YoY to ₹ 873 cr, and F26 inc

1.7%

abilized Strengthened to Scale Visible step-up in profitability 1 2 3 4 Q4F26 ROA is 2.4% vs 1.7% in Q4F25; F26 is 2.0% compared to 1.9% in F25 Q4 PAT grew 55% YoY to ₹ 873 cr, and F26 increased 1

2.0%

to Scale Visible step-up in profitability 1 2 3 4 Q4F26 ROA is 2.4% vs 1.7% in Q4F25; F26 is 2.0% compared to 1.9% in F25 Q4 PAT grew 55% YoY to ₹ 873 cr, and F26 increased 19% YoY to ₹ 2,782 cr a

1.9%

e step-up in profitability 1 2 3 4 Q4F26 ROA is 2.4% vs 1.7% in Q4F25; F26 is 2.0% compared to 1.9% in F25 Q4 PAT grew 55% YoY to ₹ 873 cr, and F26 increased 19% YoY to ₹ 2,782 cr after labor code

“Total Assets Post management overlays Key Business Indicators FY26 vs FY25 Disbursements Business AUM 6% 61,118 57,900 12% 1,34,096 1,19,673 Total Income 15% 16,075 18,500 8,176 Figs.”

“In ₹ Cr Growth % NIM 24% 10,108 FY25 FY26 FY25 FY26 FY25 12.8% FY26 13.1% FY25 6.5% FY26 7.1% Total Opex 14% 3,411 3,877 PPOP 31% 6,231 4,765 Credit Cost 51% 2,441 2,345 1,618 PAT 19% 2,782 FY25 2.7% FY26 2.7% FY25 3.8% FY26 4.4% FY25 1.3% FY26 1.7% FY25 1.9% FY26 2.0% 11 11 % of Avg.”

“crore) 99,195 79,455 12% 1,30,160 1,16,214 16,075 15% 18,500 11,056 13,562 on standalone basis FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Pre-Provisioning Operating Profit (Rs.”

“crore) 3,752 4,178 6,231 4,765 31% 1,984 1,760 19% 2,345 2,782 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Note : (1) Loan Book net of provisions.”

“of employees FY26 12.5% 4.86:1 18.8% 16.7% 2.2% 20.35 178.1 375% on standalone basis FY24 10.0% 5.18:1 18.9% 16.4% 2.5% 14.26 147 315% FY25 12.4% 5.70:1 18.3% 15.2% 3.1% 18.43 160.4 325% 22,637 25,261 26,662 Figures restated where found relevant 32 Stage 3 - Analysis on standalone basis Particulars (Rs.”

“in crore) Q4FY26 Q3FY26 Q4FY25 FY26 FY25 FY24 Stage-1 Provisions Stage-2 Provisions Stage-3 Provisions Provisions – P&L Charge 27 (47) 80 61 27 (132) (54) (158) 25 (56) (9) (40) 149 (89) 422 482 (7) 12 53 59 46 67 (5) 108 Write-Offs 499 628 498 1,959 1,559 1,715 Total 560 470 457 2,441 1,618 1,823 Figures re-grouped and rounded where found relevant 34 Stage Wise Provisioning Stage-Wise Assets and Provisioning on standalone basis As on 31st Mar 2026 As on 31st Dec 2025 As on 31st Mar 2025 Rs.”

“in crore) Q4FY26 Q4FY25 FY26 FY25 F24 Loans disbursed Loans & Advances (net) Total income PBT PAT Net-worth Gross Stage 3 % Net Stage 3 % No.”

“in crore) Q4FY26 Q4FY25 FY26 FY25 FY24 Net Premium Total income PBT PAT 1,392 437 54 40 1,151 343 37 27 No.”

Regd. Office

1

Corporate Office

1

Note

1

QIP Issuance

1

Regd. Office

Gateway Building, Apollo Bunder, Mumbai-400 001, India Tel: +91 22 6897 5500 Fax:+91 22 2287 5485 www.mahindrafinance.com CIN - L65921MH1991PLC059642

Corporate Office

Mahindra Towers, 3rd Floor, Dr. G. M. Bhosale Marg, Worli, Mumbai-400 018, India Tel: +91 22 6652 6000 Email: corporate.communications@mahindrafinance.com Safe Harbor Certain statements in the Financial Results Update presentation describing the Company's objectives, and predictions may be ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India, volatility in interest rates, new regulations and Government policies that may impact the Company’s business as well as its ability to implement the strategy. The Company does not undertake to update these statements. 2 Providing Financial Solutions to Bharat Executive Summary Financial Information Subsidiary Financials Company Overview ESG & CSR Key Messages F26 Visible step-up in pro

Note

1. MIBL became wholly owned subsidiary of the company w.e.f 22nd September 2023. 2. Balance 1.57% held by MRHFL Employee Welfare Trust and employees 3. Manulife Investment Management (Singapore) Pte. Ltd. holds 49% of the shareholding of MMIMPL and MMTPL. 4. MIFL w.e.f. 8th July 2021 is a subsidiary of the Company 5. Mahindra Finance CSR Foundation is a wholly-owned subsidiary of MMFSL w.e.f 2nd April 2019, involved in engaging and promoting CSR projects and CSR activities of the 51 Company and its group Companies Our Journey Equity participation of 12.5%by NHB in MRHFL Recommenced Fixed Deposit Program Stake sale in MIBL to Inclusion Resources Pvt. Ltd. QIP Issue of Rs. 867 crore Certificate of Registration received from SEBI by Mahindra Mutual Fund Sale of 5% of MIBL at a valuation of Rs. 1,300 crore.

QIP Issuance

Rs. 1,056 crore; Preferential Issue to M&M : Rs. 1,055 crore Completed IPO, Subscribed ~ 27 times Rights Issue of Rs. 3,089 crore Rights Issue of Rs. 2,996 crore AUM crosses 1 Lakh Crore FY 06 FY 08 FY 09 FY 11 FY 13 FY 15 FY 16 FY 17 FY 18 FY 20 FY 21 FY 23 FY 24 FY 25 FY 26 Commenced Housing Finance business through MRHFL Raised Rs. 414 crore through Private Equity QIP Issue of Rs. 426 crore JV with Rabobank subsidiary for tractor financing in USA Maiden Retail NCD Issue of Rs. 1000 crore Oversubscribed over 7x of base issue size of Rs. 250 crore Long term debt rating upgraded to AAA by India Ratings and Brickwork. CARE Ratings assigned AAA rating to long term debt Partnered with Manulife for Mutual Fund business Invested in Ideal Finance for providing financial services in Sri Lanka Long term debt rating upgraded to AAA by CRISIL Crossed 9 million cumulative customer contracts Received Corporate C Agency License from IRDAI 52 Shareholding Pattern (as on March 31, 2026) Shareholding