Nuvama Wealth Management Limited

INR 91

NUVAMA Investor Presentation Q4 and FY26 Exchange rate of 1 USD = INR 91 has been assumed 1 Contents 1 2 3 4 5 About Us Industry Overview Year Gone By Performance

rs 2

ownership: PAG (promoter of company), one of the largest Asia-based alternative investment managers 2. INDUSTRY OVERVIEW ▪ Integrated wealth management platform with exhaustive suite of offerings

26%

of existence Integrated Wealth Management platform Proven Execution Revenue FY26: US $ 343 Mn - 26% CAGR 5Y Operating PAT FY26: US $ 115 Mn-39% CAGR 5Y 1. All figures are as on 31st March 2026 unles

39%

platform Proven Execution Revenue FY26: US $ 343 Mn - 26% CAGR 5Y Operating PAT FY26: US $ 115 Mn-39% CAGR 5Y 1. All figures are as on 31st March 2026 unless mentioned otherwise 4 Majority owned by

rs 6

nboarding, Transactions Servicing, Reporting, Advice Empowering Clients and Relationship Managers 6 Evolved from individual businesses into an INTEGRATED WEALTH MANAGEMENT PLATFORM 2. Global Partne

rs 1

xperience and accelerating business growth acquires a controlling stake New Brand & Headquarters 1. Built Businesses - Backed By High- quality Parentage Wealth & Asset Management Asset Services

75%

over client segments constituting majority of wealth ~35K Households ~30 lacs Households 70-75% of total financial wealth UHNI HNI & AFFLUENT MASS MARKET RETAIL 9 UNIQUE BUSINESS MODEL

32%

quality of earnings All figures are in US $ Mn % are YoY Revenue 110 82 53 37 18 - FY21 +32% 145 43 19 2 FY22 +19% 173 112 +31% 227 131 36 17 7 FY23 52 36 7 FY24 +8% 343 189

19%

gures are in US $ Mn % are YoY Revenue 110 82 53 37 18 - FY21 +32% 145 43 19 2 FY22 +19% 173 112 +31% 227 131 36 17 7 FY23 52 36 7 FY24 +8% 343 189 +41% 319 157 83 72 81

31%

$ Mn % are YoY Revenue 110 82 53 37 18 - FY21 +32% 145 43 19 2 FY22 +19% 173 112 +31% 227 131 36 17 7 FY23 52 36 7 FY24 +8% 343 189 +41% 319 157 83 72 81 67 6 FY25 6

8%

FY21 +32% 145 43 19 2 FY22 +19% 173 112 +31% 227 131 36 17 7 FY23 52 36 7 FY24 +8% 343 189 +41% 319 157 83 72 81 67 6 FY25 6 FY26 Wealth Management Asset Management Ass

41%

45 43 19 2 FY22 +19% 173 112 +31% 227 131 36 17 7 FY23 52 36 7 FY24 +8% 343 189 +41% 319 157 83 72 81 67 6 FY25 6 FY26 Wealth Management Asset Management Asset Services Ca

“Return capital to shareholders Return on Equity (RoE) 31.5% 28.1% 23.6% 16.3% 16.6% 17.8% Net Worth 31st Mar 2026 US $ 453 Mn Dividend history1 ~US $ 0.15 per share: Declared in May‘26 ~US $ 0.15 per share: Declared in Nov‘25 ~US $ 0.15 per share: Declared in May‘25 ~US $ 0.14 per share: Declared in Oct’24 ~US $ 0.18 per share: Declared in Jul’24 Consistent dividend payout: ~49% of annual operating profits for FY26 1.”

“Dividend per share has been adjusted to reflect the impact of the share split 32 Segmental Summary: Q4 and FY26 Wealth Management Asset Management Asset Services and Capital Markets 33 Nuvama Wealth One of the leading wealth managers in Affluent and HNI client segments Well scaled Wide presence across India US $ 11,770 Mn of client assets ~1,100 RMs and ~8,000 Active External Wealth Managers (EWM) 1.3+ million clients.”

“FY26 revenues increased 18% YoY (Q4 by 16% YoY), led by strong MPIS growth and sustained traction in the lending book FY26 MPIS revenues grew 38% YoY, taking MPIS contribution to 59% of total revenues (50% for FY25) Full year profits grew faster, by 22% YoY driven by improvement in productivity thereby expanding margins by 130 bps 4.”

“MPIS: Managed Products & Investment Solutions 37 Nuvama Wealth: Performance Metrics Closing Client Assets (US $ Mn and YoY) Client Assets Composition (US $ Mn) MPIS Net New Money (US $ Mn and YoY) +14% 11,770 10,313 MPIS Loan Broking Others +38% 980 3,271 308 6,620 113 FY25 4,311 +32% 542 +76% 710 6,781 136 FY26 FY25 FY26 FY25 0.88% FY26 0.90% Yield on average assets 1.”

“Client assets stood at US $ 11,770 Mn as at end of FY26, grew by 14% YoY led by flows in MPIS and loan book 2.”

“MPIS client assets stood at US $ 4,311 Mn as of the end of FY26, reflecting a strong 32% YoY growth, driven by traction across both Managed Products and Fixed Income solutions 3.”

“FY26 NNM from MPIS remained strong at US $ 980 Mn, a 38% YoY growth and representing 30% of opening MPIS assets 1.”

“FY26 revenues grew 24% YoY (Q4 by 22% YoY), driven by ARR, now contributing to 59% of the total revenues (56% for FY25) FY26 ARR revenues grew by 32% YoY, led by managed products which grew by 49% YoY 3.”

“EAM: External Asset Manager 42 Nuvama Private: Performance Metrics Closing Client Assets (US $ Mn and YoY) Client Assets Composition (US $ Mn) 1 Recurring NNM (US $ Mn and YoY) 21,918 +4% 22,712 ARR Earning Assets Transactional Assets 4,885 5,936 +22% 1,110 -5% 1,058 FY25 FY26 14,521 14,660 FY25 0.84% FY26 0.89% Yield on average ARR assets FY25 FY26 1.”

“Client assets stood at US $ 22,712 Mn as at end of FY26, grew by 4% YoY 2.”

Nuvama Asset Services and Capital Markets

2

Key Corporate Action

1

Improved market share

1

DISCLAIMER

1

NOTES

1

Key Corporate Action

Completed sub-division of 1 equity share of ₹10/- each, fully paid-up, into 5 equity shares of ₹2/- each, fully paid-up in Dec’25 1. Dividend per share has been adjusted to reflect the impact of the share split 18 Driving growth by enhancing client proposition and enterprise capabilities EXPANDING HORIZONTALLY, INTEGRATING VERTICALLY Building Scale Established new and deepened existing relationships, improving market share Expanding Reach Expanded presence at new locations and built new partnerships Best-in-class Solutions Provided access to best-in-class products, offered end to end services Service Excellence Sustained focus on quality, delivering superior outcomes for clients INSTITUTIONALIZING SYSTEMS & PROCESSES People Strengthened leadership, capability and culture a Governance Robust compliance frameworks, Proactive risk management Technology Improved experience, efficiency and AI led intelligence Brand Living brand purpose - doing it right, driving growth, earning recognition 1

Improved market share

~20% of relevant new clients in our select segments c) Won accolades: Recognized by global industry bodies as ‘The leading custodian’ and won many other awards WM: Wealth Management, AM: Asset Management, AS: Asset Services , CM: Capital Markets and IM: Investment Managers 49

Nuvama Asset Services and Capital Markets

Journey over years All figures are in US $ Mn CLIENT ASSETS - ASSET SERVICES REVENUES - ASSET SERVICES 5Y CAGR 36% - 13,851 13,841 10,017 5Y CAGR 35% 4,254 4,784 2,973 18 19 17 72 36 YoY 12% 81 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 REVENUES - CAPITAL MARKETS 5Y CAGR 13% 83 YoY 19% 67 37 43 36 52 FY21 FY22 FY23 FY24 FY25 FY26 50

Nuvama Asset Services and Capital Markets

Performance Metrics Revenue - Asset Services (US $ Mn and YoY) Revenue - Capital Markets (US $ Mn and YoY) Profit Before Tax (US $ Mn and YoY) +12% 81 72 83 -19% 67 94 -3% 91 +5% 23 22 18 -17% 15 -5% 23 24 Q4 FY25 Q4 FY26 FY25 FY26 Q4 FY25 Q4 FY26 FY25 FY26 Q4 FY25 Q4 FY26 FY25 FY26 Asset Services 1. 2. FY26 revenue grew by 12%, demonstrating strong execution and reinforcing the resilience of this infrastructure-like business Investing across international & domestic segments, to unlock growth via new geographies, channels, and product suite Capital Markets 1. 2. FY26 revenues declined 19% YoY. Delivered 3-year CAGR of 23% Fixed income revenues, grew by 34% YoY driven by expanded coverage and distribution capabilities 51 Doing it right ! Driving growth, earning recognition Recognized with prestigious awards for excellence in Q4 FY26 o Highly Commended Best Private Bank – India - Asian Private Banker's 15th Awards for Distinction o India's Best for Ultra-High-Net-Worth (UHNW) - Euromone

DISCLAIMER

This presentation and the discussion may contain certain words or phrases that are forward-looking statements, which are tentative, based on current expectations of the management of Nuvama Wealth Management Limited or any of its subsidiaries, associate companies and joint ventures (“Nuvama”). Actual results may vary from the forward-looking statements contained in this presentations due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of Nuvama as well as the ability to implement its strategy. The information contained herein is as of the date referenced and Nuvama does not undertake any obligation to update these statements. Nuvama has obtained all market data and other information from sources believed to be reliable or are its internal estimates unless ot

NOTES

Slide 7: Slide 8: Slide 9: Slide 11: Slide 13: Slide 14: Slide 21: Pursuant to approvals received from SEBI and exchanges, Nuvama Wealth Management Limited was listed on BSE and NSE on 26th September 2023 Company research and estimates Kotak Wealth Report, Karvy Wealth Report, Mckinsey Wealth Reports, Credit Suisse Global Wealth Reports | 2017-2022 and company estimates Revenue incorporates impact of phase 3 demerger to include merchant banking & advisory services businesses. Revenue calculated by reducing finance cost and variable business expenses from gross revenue. Total revenue includes minor amount towards corporate and eliminations - FY21 US $ 1 Mn, FY22 US $ (1) Mn, FY23 US $ 0.2 Mn, FY24 US $ 1 Mn and FY25 US $ 0.0 Mn. Asset Management business was started in FY21 and new schemes were launched in FY22 IMF, OECD, Federal Reserve, Karvy Wealth Reports, World Bank, Credit Suisse Global Wealth Reports 2021,2022, Citi Research, Financial Times and internal company estimates Avendus