NAM-INDIA

July 22, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Fort, Plot No. C/1, G Block, Bandra Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 BSE Scrip Code: 540767 NSE Scrip Symbol: NAM-INDIA Dear Sir(s), Sub.: Investor Presentation Further to our letter dated July 6, 2026, please find attached the presentation to be made to the Analyst on the financial performance and Unaudited Financial Results of the Company for the quarter ended June 30, 2026. Thanking you, Yours faithfully, For Nippon Life India Asset Management Limited Valde Varghese Company Secretary & Compliance Officer Encl: a/a INVESTOR PRESENTATION Q1 FY27 For the quarter ended Jun-2026 Contents 1 Mutual Fund Industry 2 Nippon Life India Asset Management Limited 3 ESG Focus 4 Financial Overview 5 Annexures 2 Quarterly AUM Trend Industry QAAUM (INR trillion) 72.1 81.5 83.1 12.2% 13.9% 13.7% 9.5% 8.9% 9.5% 18.0% 16.8% 15.5% . 3.7% 4.1% 4.0% 56.6% 56.4% 57.2% Jun-25 Mar-26 Jun-26 Equity Arbitrage Debt Liquid ETFs ▪ Proportion of Equity assets has remained in a stable range over the last year ▪ Growth in Equity assets has been aided by strong retail participation Source: AMFI 4 Segment-wise Mix & Geographic Spread Segment-wise MAAUM Location-wise MAAUM B-30 18.5% Retail HNI 27% 34% Corporate T-30 39% 81.5% ▪ Individual segment contributes 61% of AUM ▪ B-30 locations contribute 18.5% of AUM Source: AMFI Note: Data based on MAAUM for the last month of the quarter 5 Systematic Investments Monthly SIP Flows (INR bn) Contributing SIP Folios (mn) SIP AUM (INR bn) 5 6 9 0 321 318 0 0 7 273 86.5 97.2 97.8 3 1 , 7 , 5 , 5 1 1 1 Jun-25 Mar-26 Jun-26 Jun-25 Mar-26 Jun-26 Jun-25 Mar-26 Jun-26 ▪ Steady growth witnessed in the monthly SIP flows (+17% YoY) ▪ Monthly SIP flows in Jun-2026 at INR 318 bn ▪ Contributing SIP folios increased by 13% YoY ▪ SIP AUM increased by 16% YoY Source: AMFI 6 NAM India At A Glance One of the largest Asset Managers in India, with track record of 30+ years International INR 147 bn NAM India Mutual Funds Managed Accounts AUM (Advisory INR 17 bn) INR 8.62 trn INR 7.49 trn INR 975 bn (Closing) GIFT City – INR 4.5 bn Locations Distributors Folios Employees Reach 271 1,25,200+ 40.2 mn 1,207 Unique Investors Systematic Flows Retail B-30 assets Individual AUM 24.1 mn (Quarterly) Strength INR 1.56 trn INR 4.71 trn Over 1 in 3 MF investors INR 110 bn in India invests with us Q1 FY27 Profit After Tax Financials at INR 5.04 bn (+27% YoY / +31% QoQ) 8 Key Highlights (1/2) AUM & Market Share Rank QAAUM INR 7,515 bn, +23% YoY/+4% QoQ Maintained rank of 4th Largest AMC MS 9.04%, +54 bps YoY/+15 bps QoQ 1 based on Total and Equity QAAUM 2 Fastest growing AMC YTD in Top-10 AMCs No.1 Non-Bank Sponsored AMC and Highest MS increase across Industry Foreign Owned AMC in India Equity MS 7.38%, +34 bps YoY/+22 bps QoQ Unique Investor & Folio Base Systematic Flows Among Industry’s highest investor base Q1 FY27 Systematic Flow - INR 110.3 bn, 3 4 Unique investors - 24.1 mn, 39.0% mkt. share +12.9% YoY / +1.5% QoQ Total folios – 40.2 mn, 0.7 mn added QoQ Annualised Sys. Book of INR 446 bn 9 Key Highlights (2/2) ETF QAAUM INR 2,434 bn Profitability 5 +40% YoY / +1% QoQ 6 Q1 FY27 Profit After Tax at INR 5.04 bn Market share at 21.35% (+27% YoY / +31% QoQ) +159 bps YoY Employee Focus Digital GOLD accreditation on India’s Iconic 4.49 Mn Digital transactions in Q1 FY27 Workplaces’26 by Mint & Deloitte Contributed 78% to overall purchase + 7 8 Aon/Kincentric “India’s Best Employers” 6 new SIP transactions for Q1 FY27 times in 8 years – 2016/18/19/21/22/23 52 new digital Purchases/New SIPs every Part of the inaugural and subsequent minute in Q1 FY27 “Kincentric Best Employers Club” 10 A Complete Asset Manager Comprehensive Product Bouquet AUM Spread Across Asset Classes Offerings across MF, AIF/PMS and Offshore Equity constitutes 47% of MF AUM Diverse MF offerings in active/passive space ETFs constitute 32% of MF AUM Wide Reach Strong Physical & Digital Distribution Largest investor base in the industry Large base of Mutual Fund Distributors Strong presence in B-30 segment Digital/total purchase transactions: 78% Optimal Mix of Investors Steady Systematic transactions Higher share of retail AUM vs industry Annualised book: INR 446 bn HNI segment gaining traction Higher longevity of SIP AUM vs. industry 11 Comprehensive Product Bouquet Mutual Fund AIF – 18 Schemes Public Equity Active – 46 Schemes Passive – 56 Schemes Real Estate Credit Equity Equity (Index Structured Credit Market Cap based Funds/ ETFs) Sector Broad Market Tech VC Thematic Sector International Thematic/Strategy PMS - 6 schemes International Fixed Income Offshore - 5 schemes High grade Fixed Income High yield (Index Funds/ Fixed Maturity Plans UCITS Equity Funds ETFs) Target Maturity Funds UCITS Fixed Income Fund Hybrid Liquid Asset Allocation Gilt India Fixed Income ETF Arbitrage (Co – Investment Manager) Other Hybrid Commodity Strategies Managed Accounts Fund of Funds Fund of Funds GIFT City - 2 schemes Note: MF scheme data is based on Open-ended schemes 12 MF AUM Spread Across Asset Classes NIMF QAAUM (INR bn) 8.49%* 8.89%* 9.04%* 6,127 7,250 7,515 28.4% 33.4% 32.4% 7.7% 5.5% 6.3% 14.7% 13.4% 12.4% 2.3% 2.3% 2.2% 46.9% 45.5% 46.7% Jun-25 Mar-26 Jun-26 Equity Arbitrage Debt Liquid ETFs ▪ Share of Equity AUM remained relatively stable on a YoY basis ▪ Share of ETF AUM has increased YoY to ~32% Source: AMFI Notes: a) * Represents NIMF Market Share, b) Geographical Closing AUM Spread (%): Top 5 13 Cities: 56.66 | Next 10 Cities: 12.25 | Next 20 Cities: 5.83 | Next 75 Cities: 7.98 | Other: 17.27 Optimal Mix Of Investors NIMF MAAUM (INR bn) Investor segment-wise MAAUM 6,392 7,132 7,614 NIMF 29% 33% 38% 41% 39% 38% (8.9%)* (8.6%)* (8.8%)* 30% 34% 33% (7.5%)* (9.0%)* (8.9%)* Industry 27% 34% 39% 29% 27% 29% (9.3%)* (9.5%)* (9.6%)* Jun-25 Mar-26 Jun-26 Retail HNI Corporate Retail HNI Corporate ▪ NIMF’s Retail share at 29% is higher than the industry average of 27% ▪ NIMF has seen a consistent uptick in HNI market share Source: AMFI Note: *Market Share based on MAAUM 14 Wide Reach B-30 MAAUM / Total MAAUM B-30 Folios (mn) 16.0% NIMF 20.5% 14.4% 11.8% 22.2 19.6 13.6 Industry 18.5% Jun-25 Mar-26 Jun-26 B-30 MAAUM (INR bn) 9.9% 10.0% 9.1% 1,561 1,431 1,256 Jun-25 Mar-26 Jun-26 Market Share Source: AMFI 15 Wide Reach Unique Investors (mn) Total Folios (mn) Overall Distribution Mix 14.4% 14.4% 38.3% 38.8% 39.0% 13.8% Direct MFDs NDs Banking Dist. 23% 23.8 24.1 39.4 40.2 59% 21.2 33.4 8% 10% Jun-25 Mar-26 Jun-26 Jun-25 Mar-26 Jun-26 ▪ NIMF has among the largest investor bases in the industry ▪ NIMF’s market share in terms of unique investors was higher YoY ▪ No. of Branches: 200 Market Share Note: Distribution mix based on MAAUM for the last month of the quarter 16 Strong Physical Distribution Total base of empaneled distributors at over 1,25,200 with highest single distributor concentration at <5% of assets 102 74 95 1,24,900+ Banking National Alternate Mutual Fund Distributors Distributors (incl. PSU banks) Distributors Distributed Assets Distributed Assets Equity Distribution Mix (channel-wise) (investor-wise) Direct MFDs MFDs NDs Banking Dist. Retail HNI Corporate NDs Banking Dist. 41% 19% 37% 56% 15% 49% 27% 25% 16% 14% Note: Single Dist. Conc. calculated on closing AUM Distribution mix based on MAAUM for the last month of the quarter 17 Strong Domestic Presence Well diversified presence with touchpoints spread across India 100% 271 Of India’s 750 Offices and Districts serviced touchpoints 97% 200/71 Branches/ Of India’s 19,500+ REMG Locations Pincodes serviced Note: Branches in Blue, REMG locations in Red 18 Segment-Focused Business Verticals Key Clients Group (KCG) Experienced Institutional sales team managing specific target segment of clients with focused business approach by maintaining relationship with Large corporate groups, Banks and financial Institutions and aim to enhance market share from these investors Elite Partners and Client Group (EPCG) Goal is to have a unified approach to build market share with Mid-size corporates & HNI segment of Investors by engaging with the said category of investors & also with Private wealth advisors/distributors (that cater to same investor segment) Retail Business Development (RBD) Work with PSU Banks, Old Pvt Banks, Co-operative Banks, Gold Loan Companies and New Age Banks i.e. Small Finance Banks to capitalize on their large untapped Customer base of Retail, HNI’s/Ultra HNI’s & MSME Rural and Emerging Market Group (REMG) Focus on the B-100 markets through a dedicated structure ensuring a focused approach to build and develop the Tier 2 & Tier 3 towns of India 19 NIMF Digital Ecosystem For The Modern Indian Investor 20 Strong Digital Presence Lumpsum & New SIP Registration Digital Purchases (Mn)* Q1 FY27 4.49 26% Q1 FY26 3.57 Digital Business Every three seconds, Digital transactions more than two 4.49 Mn 78% 52/min contribution (New purchase Lumpsum Purchases Q1 FY27 Q1 FY27 Q1 FY27 to total NIMF + New SIP or New SIP Purchases registrations) registrations & New SIP happened through Registrations Digital Business 4.49 Mn New Purchase and New SIP transactions done by Digital Business in Q1 FY27 * Including New SIP registrations * Digital purchases through NIMF-owned Digital assets and digital integrations with 21 distribution partners Steady Systematic Transactions Quarterly Systematic Book (INR bn) Q1 FY27 Book (INR bn) +445% 105.9 110.3 90.5 36.8 36.3 37.2 52.7 19.4 27.4 FY22 FY23 FY24 FY25 FY26 Q1 FY27 Apr-26 May-26 Jun-26 Avg. Avg. Avg. Avg. Avg. SIP AUM continuing for >5 years As of Jun-2026 45% ▪ Folios at 10.9 mn (+9% YoY) 31% Industry ▪ AUM at INR 1.84 trn (+20% YoY) NIMF ▪ Annualized book of INR 446 bn AUM Note: Systematic Book is based on actual cash received 22 ETF - Leadership Position Maintained One of tOhnee olaf rtghee lsatr gbeostu bqouueqtu eotf o 2f 624 E ETTFFss iinn t hteh ein dinudsturys tarcyro assc rEoqusist iEesq, uDietbite, s&, DCoembmt o&d iCtieosmmodities 49% 46% 21% INR 2,434 bn INR 556 bn Volume Share* Share of folios^ Market Share^ ETF QAAUM Gold ETF QAAUM NSE volume (Apr - Jun 2026) (INR mn)** Nifty 50 ETFs Nifty Bank Liquid ETFs Gold ETFs Silver ETFs Mutual Funds (21)# ETFs (13) # (19) # (26) # (18) # NIMF 2499 733 3,816 3,950 7,742 MF1 252 95 2,404 989 1,824 MF2 242 78 1,018 839 1,149 MF3 72 75 657 714 1,143 MF4 48 62 501 642 449 Others 47 102 1,996 1,528 1,821 Total 3,311 1,145 10,392 8,662 14,128 ‘Industry Avg.’ (excl. 41 34 365 188 376 NIMF) NIMF’s volume 62x 21x 10x 21x 21x (vs. ‘Industry Avg’) NIMF remains the Category leader - ETFs with highest liquidity in the Industry MFs ranked in terms of volume in each category | ** Average Daily Turnover | # Figures in bracket represent AMC scheme count in respective categories * Volume Share on the NSE and BSE for Q1 FY27 ^ Folio Share and Market Share as on June 30, 2026 | Liquid ETF considered for NIMF is the IDCW 23 variant Nippon India Alternative Investments (NIAIF) Total Commitment Raised (Till date) Jun-25 Mar-26 Jun-26 INR 81.0 bn INR 93.3 bn INR 95.8 bn ▪ Currently offers products across four business lines namely Public Equity, Real Estate, Private Credit & Venture Capital ▪ Fund raising currently underway for: o Public Equity AIFs - “Nippon India Equity Opportunities AIF Scheme 11” o Venture Capital AIF “Nippon India Digital Innovation AIF Scheme 2A”; a direct VC fund targeting investments in early to growth stage start-ups o Private Credit AIF “Nippon India Credit Opportunities AIF - Scheme 2”; which endeavours to generate meaningful risk-adjusted returns over traditional fixed-income options 24 Facilitating Japanese Inflows Into India Via GIFT City Assets Under Management Jun-25 Mar-25 Jun-26 INR 1.1 bn INR 3.6 bn INR 4.5 bn ▪ GIFT City funds have AUM of ~USD 48 mn across below mentioned schemes: o Nippon India Large Cap Fund GIFT, a feeder fund investing in existing Nippon India Large Cap Fund o Nippon India Nifty 50 Bees GIFT (Fund) which is a feeder fund into Nippon India ETF Nifty 50 Bees. This launch is in collaboration with our partner Nissay Asset Management Corporation, Japan (wholly owned by Nippon Life Insurance Company), which launched Nissay India Equity Fund in Japan to feed into this fund ▪ Fund Raising: Nippon India SHARP Equity Fund: Long Short Equity Fund ▪ Fund Pipeline: Nippon India Digital Innovation Fund 2B: Fund of Funds which shall invest in India-focused venture capital funds 25 Offshore Business - Creating ‘Expressways’ Globally Key presence Singapore Dubai Japan (INR bn) 187 21 155 164 17 17 Advisory Managed 166 139 147 Jun-25 Mar-26 Jun-26 Other International Tie Ups Xtrackers India Govt. Bond UCITS ETF (Europe) Godo Kaisha Genkai India Investment (Japan) Bualuang Bharata Fund (Thailand) Nippon India Taiwan Equity Fund (Taiwan) Nissay India Mid and Small Cap Fund (Japan) 26 Process Orientation - Investments Factor Analysis Risk Rating of Securities Risk Optimisation tool analysing Quantitative Assessment key factors and comparing the considering Business Risk and portfolio & benchmark construct Management Risk Fund Casing Investment Objective Analyst Output System Detailed framework for every Philosophy – fund to ensure adherence Capturing calls of varying The Nippon Way to its objective levels of conviction Fund Scorecard Monitoring & Corrective Actions Ongoing performance monitoring to act on early Risk monitoring and review warning signals 27 PDCA Approach Plan Do Check Act ▪ Within fund ▪ Analysis and ▪ Monthly fund ▪ Adjustment in mandate (target prediction of review by the Fund portfolio for return, risk, macro economy Management Team better risk-return benchmark, and market ▪ Risk and return ▪ Refine investment ▪ Portfolio measurement performance theme, etc.), construction improvement and each Fund ▪ Interactive based on analyst reproducibility Manager makes discussion on each research, an investment Fund Manager’s ▪ Communicate the valuation, fund plan on how to investment outcome of the casing, style achieve the portfolio Check and Action analysis, etc. target return to the IC 28 Investment Team 77 Members Investment Team Strength 29 17 Equity MF Fixed Income MF 25 4 2 Managed Accounts SIF Offshore Business ▪ ~1,100 years cumulative experience of Investment Team ▪ 22+ years average tenure of CIOs with NAM India ▪ Dedicated Teams for Credit Research, Real Estate, and Venture Capital 29 ESG - Driving Responsible Growth To create a sustainable future for our stakeholders by integrating environmental, Vision social and governance (ESG) principles into our business operations, investment processes and stewardship Environment Governance Social Our Stewardship Excellence Responsibility Commitments ▪ Advancing BRSR ESG ▪ Achieved 14.5% renewable ▪ Maintained 100% ▪ Reached 35,900+ participants Value Chain energy share for the first compliance with SEBI through financial literacy assessment in FY27 time; GHG intensity per ESG disclosure norms programs; 730+ Distributor employee reduced 35% YoY ▪ Successfully obtained Engagement Programs ▪ Committed to 45% conducted GHG reduction by ▪ Reduced operational carbon Reasonable Assurance 2030, 70% by 2050, emission intensity by 6.9% on BRSR Core for ▪ Female hiring up 7%; gender and Net Zero by 2070 YoY despite 29% expansion second consecutive diversity maintained at 23% in office footprint year – audited by S.R. in FY26 ▪ NAM India became a Batliboi & Associates UN PRI Signatory in ▪ Scope 3 emissions ▪ Skill upgradation coverage LLP 2021. Targeting full calculations incl. financed scaled from 68% to 89%; zero continued disclosure emissions disclosed in our ▪ Voted on 6,470 work-related injuries; 91% for FY27 ESG report resolutions as a part parental leave return-to-work ▪ LEED certification for our of active stewardship; rate largest office in progress Stewardship Policy ▪ CSR spend of INR 230 mn in revised June 2025 ▪ 100% e-waste responsibly FY26 disposed; plastic & paper cups fully eliminated at new corporate office 31 CSR NAM India to allocate up to INR 300 mn towards CSR initiatives in FY27 Number of Beneficiaries Focus Areas NGO Partners SDG Linkage from projects in FY26 & 27* ▪ Tata Memorial Centre 5,107 Healthcare Community members from ▪ Vision Foundation of India economically weaker section Education & Skill 6,135 ▪ Ekam Foundation Development Students from economically weaker sections ▪ Swades Foundation Rural Development 4,289 and Environmental ▪ PANI Foundation People from the marginalised community Sustainability ▪ Aga Khan Agency for Habitat ▪ Foundation for Promotion of 325 Support for Sports Athletes, para-athletes Sports and Games 12,144 Support to Armed ▪ Army Welfare CSR Fund Dependents of army Forces personnels Note: * Estimated data from FY26 ongoing projects and FY27 projects 32 Financial Summary Consolidated Q1 Q1 Change Q4 Change Particulars (INR mn) FY26 FY27 FY26 (YoY) FY26 (QoQ) Revenue from Operations 7,669 6,066 26% 7,387 4% 27,087 Operating Expenditure 2,726 2,287 19% 2,454 11% 9,611 Finance cost 16 18 -13% 16 -4% 70 Fee & Commission 203 186 9% 203 0% 783 Employee benefits 1,388 1,226 13% 1,259 10% 5,053 Depreciation 120 84 42% 122 -2% 403 Other Expenses 999 772 29% 854 17% 3,302 Core Operating Profit 4,943 3,779 31% 4,933 0% 17,476 Other Income 1,702 1,460 17% -335 NA 2,243 Profit Before Tax 6,645 5,239 27% 4,598 45% 19,720 Profit After Tax 5,037 3,961 27% 3,847 31% 15,294 Standalone Q1 Q1 Change Q4 Change Particulars (INR mn) FY26 FY27 FY26 (YoY) FY26 (QoQ) Revenue from Operations 7,207 5,635 28% 6,933 4% 25,276 Core Operating Profit 4,895 3,743 31% 4,847 1% 17,197 Profit After Tax 4,864 3,853 26% 3,826 27% 14,978 As per IND AS 34 Investment Book Particulars (INR mn) Jun 30, 2026 Mar 31, 2026 Investment in NIMF’s schemes 38,279 33,816 - Debt 32,379 29,003 - Equity 5,900 4,813 Bank FDs and tax-free bonds 3,901 3,852 Other assets 3,092 2,853 - Equity (AIF Schemes + Others) 1,276 1,087 Total 45,272 40,521 Other Other FDs & Assets Assets Bonds 4% Equity FDs & 4% Equity Bonds 9% 16% 15% 10% Debt Debt 72% 72% As on Jun 30, 2026 As on Mar 31, 2026 35 Dividend History Earnings Per Share (INR) - Dividend Payout (INR bn) Consolidated, Diluted 23.6 13.71 20.0 11.41 17.5 10.37 11.8 11.5 7.16 6.84 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 ▪ Total Dividend INR 21.50 per share in FY26 ▪ ~91.5% of FY26 standalone earnings shared with shareholders ▪ Cumulative dividend of ~INR 76 bn in last 12 financial years 36 Indian MF Industry – Sustained High Growth Rate CAGR for MF AUM: 3-yr: 26%/5-yr: 20%/10-yr: 19% MF AUM (INR trillion) 23% % of GDP 21% 19% 16% 17% 15% 14% 13% 12% 13% 10% 79.5 66.7 55.0 37.7 40.0 32.2 22.7 24.6 24.7 18.6 13.6 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Source: AMFI, MOSPI Note: a) AUM is based MAAUM for March, b) FY26 GDP is as per Second Advance Estimates, 39 c) GDP data is as per new series with base year FY22-23 with prior periods re-calculated Key Enablers – MF Under-penetration MF AUM/GDP 141% 112% 100% 86% 74% 63% 61% 61% 27% 21% World Brazil Canada China Germany India Japan Sweden United United Kingdom States Unique MF Investors ▪ Mutual Fund penetration in India is low 4.2% 3.7% as % of GDP vs global average 3.1% 2.6% 2.4% ▪ Roughly 4% of India’s population invests 61 54 34 37 45 in MFs ▪ Mutual Fund investors increased at a Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 22% CAGR over FY21-26 Unique MF Investors (mn) % of total population Source: World Bank, Intl. Investment Funds Association, AMFI, Statista Note: GDP data as of 2025, and MF AUM data 40 as of Q4 2025 Key Enablers – Robust Economic Growth CAGR: 10% India Nominal GDP (INR trillion) YoY growth 19% 14% 12% 10% 11% 11% 11% 10% 9% 6% 345 -1% 318 290 261 229 184 195 193 166 149 134 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 ▪ India is among the Top-10 largest economies in the world ▪ GDP growth rate is among the highest vs. developed and emerging markets ▪ Government policies like PLI, National Infrastructure Pipeline, Make in India, etc. have created a conducive growth platform Source: MOSPI 41 Other Key Enablers Financialisation of Savings Households increasingly preferring Favourable Demographics financial assets over physical assets to ~60% of India’s population is in the 1 2 achieve long term savings’ goals working age group No. of demat accounts has increased ~4x (Source: NFHS-5; 2019-21 statistics) over FY21-26 to 225 mn Increased Awareness Easy accessibility Investor education and awareness Smartphone penetration (% of initiatives by AMFI including ‘Mutual population) in India is expected to reach 3 4 Funds Sahi Hai’ have reached out to 96% by 2040 Indians across states & languages Volume of UPI transactions grew at a through TV, Digital, Print & other media 61% CAGR over FY21-26 to 242 bn 42 Nippon Life Group - Profile ▪ Largest market share in Japan among private life insurers in terms of premium income ▪ Total assets over JPY 119 Trillion Key Figures1 Presence in India Premium income (Consolidated)2 JPY 9,437.3 bn Total assets (Consolidated) JPY 118,862.7 bn Asset Management Shareholding – 71.9% Economic Solvency Ratio 195% (Consolidated) Number of Customers3 15.34 mm LLiiffee IInnssuurraannccee Number of sales representatives4 47,755 SShhaarreehhoollddiinngg -- 4499..00%% 1. As of March 31, 2026 2. Revenues from insurance and reinsurance premiums 3. Sum of Nippon Life, Taiju Life, Nippon Wealth Life and Hanasaku Life 4. Sum of Nippon Life 43 Nippon Life Group ◎: Subsidiary, ◇: Equity-method affiliate Domestic Insurance Business Global Insurance Business Asset Management Business Further cultivate Participate in high-growth markets Capture retirement assets and the domestic life insurance market outside of Japan global markets Acenda Group1 Nippon Life Nippon Life Asset (◎) Management IndusInd Nippon (◎) Taiju Life Life Insurance (◎) (◇) Bangkok Life Nippon Life India Nippon Assurance Asset Management Wealth Life (◎) (◇) (◎) PT Asuransi Jiwa Sequis Life Hanasaku Life (◇) (◎) The TCW Group Nippon Life Insurance (◇ ) Company of America (◎) Nissay Plus SSI Nissay Plus SSI Company Inc. (◎) Grand Guardian Nippon Life Insurance Livelihood Support Business (◇) Retail Agencies Great Wall Changsheng (◎) Life Insurance Nichii Holdings (◇) (◎) Resolution Life2 (◎) Medical Data Vision LifeSalon LIFE PLAZA PARTNERS HOKEN110 Corebridge (◎4) Financial3 (◎) (◎) (◎) (◇) Note: As of June 30, 2026; 1. On December 11, 2024, we announced our decision to acquire the remaining 20% shares in Nippon Life Australia and New Zealand, make an in-kind contribution of all Nippon Life Australia and New Zealand shares held by us to Australasian NOHC, the holding company of Australasian operations, and acquire 51% of its voting rights, and integrate Nippon Life Australia and New Zealand under Australasian NOHC. As a result of these transactions, Australasian NOHC became our wholly owned subsidiary which encompasses both Resolution Australasia and Nippon Life Australia and New Zealand. The transaction was completed on October 31, 2025; 2. On December 11, 2024, we announced our decision to make Resolution Life our wholly owned subsidiary, by making an additional investment (approx. 77%). The transaction was completed on October 30, 2025; 3. On March 26, 2026, Corebridge and U.S. insurer Equitable announced merger through a share transfer (with completion of the integration targeted by the end of 2026); 4. On December 15, 2025, we announced our decision to acquire shares and other securities of Medical Data Vision Co., Ltd. On February 9, 2026, we acquired a 53.0% stake in Medical Data Vision through a tender offer. Following this, we conducted a share consolidation, subscribed to a third-party allotment of shares, and acquired shares held by SBI Holdings, Inc. The acquisition was completed on May 14, 2026 and Medical Data Vision became our wholly owned subsidiary. The overall transaction was approximately ¥57billion 44 NAM India - Board Of Directors Mr. Balasubramanyam Sriram (Independent Director) Mr. Upendra Kumar Sinha (Ind. Director & Chairperson) Key positions held: Key positions held: • Managing Director - State Bank of India • Chairman - SEBI • Managing Director - State Bank of Bikaner & Jaipur • Jt. Sec. - Ministry of Finance (Banking & Capital Markets) • Managing Director & CEO - IDBI Bank Ltd • Chairman & MD - UTI Asset Management Company • Part-time member, Insolvency & Bankruptcy Board of India Mr. Ashvin Parekh (Independent Director) Mrs. Sonu Bhasin (Independent Director) Key positions held: Key positions held: • Senior Partner - Ernst & Young • Founder of FAB - Families and Business • Exec. Director - Deloitte Touche Tohmatsu India • COO - Tata Capital Limited - Travel Forex and Cards • Senior positions in Arthur Anderson, PWC, KPMG & HUL • Group President (Branch Banking) - Yes Bank • Has worked in the UK, Dubai, Australia, Germany, US on • President (Retail Prod. & Sales Management) - Axis Bank Partner secondment programs for ~11 years outside India Mr. Minoru Kimura (Associate Director) Mr. Hironao Kunita (Associate Director) Sr. Managing Exec. Officer, Head of Global Business – NLI General Manager, Global Asset Mgmt. Business Unit - NLI Key positions held: Key positions held: • Head of Asia Pacific – NLI • Led foreign equity and alternative investments - Nissay • Regional CEO for the Americas and Europe - NLI Asset Management Corporation • CEO - Nippon Deutsche Asset Management Europe Ltd. • Senior Managing Director - Nissay Capital Co. Ltd. • CEO -NLI Investments Europe Ltd. Mr. Hiroki Yamauchi (Associate Director) Mr. Sundeep Sikka (Managing Director & CEO) Chairman of Nippon Life Asia Pacific (Regional HQ) Pte. Ltd. • Currently Serving his second term as AMFI Chairman Senior General Manager and Head of Asia / Head of India - NLI • Over 30 years experience in the BFSI domain Key positions held: • Joined NAM India in 2003 • Corporate/investment planning - Nissay Asset Mgmt. • Became one of India’s youngest CEOs in 2009 • Responsible for overseas asset mgmt. subsidiaries and • Has led several key industry committees including CII, affiliated companies for the NLI Group FICCI, IFSCA, and SEBI-MFAC For detailed profiles - click here 45 Disclaimer This presentation does not constitute a prospectus, an offering circular, an advertisement, a private placement offer letter or offer document or an offer, or a solicitation of any offer, to purchase or sell any securities under the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law. This presentation should not be considered as a recommendation that any investor should subscribe for, or purchase, any securities of Nippon Life India Asset Management or its subsidiaries (together, the “Company”) and should not be used as a basis for any investment decision. The information contained in this presentation is only current as of its date and has not been independently verified. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information, estimates, projections and opinions contained in this presentation. The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes. This presentation contains statements that constitute forward-looking statements. 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The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our operations, government policies, regulations etc. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward looking statements. None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company. This presentation and its contents are confidential and should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions. The information contained herein does not constitute an offer of securities for sale in the United States or in any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. 46