AAVAS FINANCIERS Q2 CONCALL : MAINTAINS 16–17% FY27 AUM GROWTH GUIDANCE, TARGETS ₹50,000 CR LONG-TERM AUM & EXPECTS DISBURSEMENT GROWTH ABOVE 20%

• MANAGEMENT MAINTAINS FY27 AUM GROWTH GUIDANCE OF 16–17%, WHILE EXPECTING DISBURSEMENT GROWTH ABOVE 20% • MANAGEMENT TARGETS LONG-TERM AUM EXPANSION FROM APPROXIMATELY ₹25,000 CR TO ₹50,000 CR, WITH AN AMBITION TO ACHIEVE OVER 20% ANNUAL AUM GROWTH • MANAGEMENT EXPECTS SPREADS TO REMAIN ABOVE 5%, SUPPORTED BY RISK-BASED PRICING, IMPROVED PRODUCT MIX & HIGHER REALIZATIONS ON NEW DISBURSEMENTS • MANAGEMENT TARGETS COST-TO-INCOME RATIO BELOW 40% & OPERATING EXPENSES TO ASSETS BELOW 3% OVER THE MEDIUM TERM • MANAGEMENT TARGETS RELATIONSHIP OFFICER PRODUCTIVITY OF 1.5–1.55 LOAN FILES PER MONTH BY FY27-END, WITH A LONGER-TERM GOAL OF 2 FILES • AUM UP 16.1% YOY TO ₹24,800 CR, WHILE H1 DISBURSEMENTS INCREASED 30% YOY TO ₹3,510 CR • Q2 NET INTEREST INCOME UP 15% YOY, OPERATING PROFIT UP 14% TO ₹249 CR & NET PROFIT UP 10% YOY • H1 NET PROFIT UP 16.4% YOY TO ₹350 CR, WHILE NET INTEREST INCOME INCREASED 17% & OPERATING PROFIT GREW 18% • Q2 NET INTEREST MARGIN IMPROVED 11 BPS QOQ TO 7.81%, WHILE COST OF BORROWING STOOD AT 7.64% • Q2 COST-TO-INCOME RATIO IMPROVED 153 BPS QOQ TO 42.19%, WHILE H1 OPERATING EXPENSES TO ASSETS DECLINED TO 3.33% • ASSET QUALITY REMAINS HEALTHY WITH GROSS STAGE 3 AT 1.11%, NET STAGE 3 AT 0.70% & EARLY DELINQUENCY RATIO AT 3.81% • MANAGEMENT MAINTAINS CREDIT COST GUIDANCE WITHIN APPROXIMATELY 25 BPS, SUPPORTED BY DISCIPLINED UNDERWRITING & COLLECTION EFFICIENCY • COMPANY OPERATES 443 BRANCHES ACROSS 15 STATES, WITH OVER 21,500 NEW CUSTOMERS ADDED DURING H1 FY27 • MANAGEMENT TARGETS A LONG-TERM PORTFOLIO MIX OF 65% HOME LOANS & 35% NON-HOME LOANS, WHILE EXPANDING TOP-UP LENDING & DIGITAL LOAN ORIGINATION • CAPITAL ADEQUACY REMAINS STRONG AT 43.77%; HIGHER BORROWING COSTS, INSURANCE COMMISSION REGULATORY CHANGES FROM APRIL 2027 & MODERATE QUARTERLY PROFIT GROWTH REMAIN KEY RISKS

AAVAS FINANCIERS LIMITED

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