Slide 1: Exchange filing cover letter for investor presentation
Date: November 04, 2025 To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Symbol: MOBIKWIK Scrip Code: 544305 Sub: Investor Presentation for the quarter ende
Slide 2: Earnings Presentation Q2FY26
Mitobikwik EARNINGS PRESENTATION Q2FY26 | For the Quarter Ending Sep. EZ yy yn ee cy 7 We
Slide 3: Our Vision
Header Our VISION To make MobiKwik the most trusted name in digital finance for Bharat 2
Slide 4: Our Business Model
Our Business Model | User & merchant acquisition via Digital Payments © 183.5 tite" (UPI, Wallet, (Personal Loans, (FD, Mutual Funds, FD-Backed Credit Card § Bill Payments & more) ene Digital Gold & more)
Slide 5: Quarterly Updates
‘QUARTERLY - UPDATES
Slide 6: Our Stakeholders
Header Our Stakeholders Bajaj Finance Peak XV SBI Mutual Times Internet Bajaj Allianz Limited Partners Fund Limited Life Insurance Government Pension Fund Global HDFC Mutual American Cisco GMO Global Axis Mutual Fund Express Fund 1 *As per shareholding dated Oct 31, 2025 5
Slide 7: MobiKwik at Global Fintech Fest 2025
Header MobiKwik at Global Fintech Fest 2025: Powering Bharat’s Fintech Revolution • Held insightful discussions with senior dignitaries such as Shri M. Nagaraju (Secretary, DFS), Dr. Abhijit Phukon (Economic Advisor, DFS), Shri Vasudevan P (ED, RBI), Shri Sirin Kumar (GM, RBI), Shri Sahil Kini (CEO,
Slide 8: Upasana Taku named Fintech Person of the Year - Female
Header Upasana Taku named “ Fintech Person of the Year - Female” at Global Fintech Awards 2025
Slide 9: Quarterly Results
QUARTERLY RESULTS 8
Slide 10: Business at a Glance: Wallet, UPI, Bill Payments and Loans
Header Business at a Glance : Wallet, UPI, Bill Payments and Loans #1 #7 Amongst Top 3 (3) Rankings Wallet (1) Bill Payments (2) Fastest Growing UPI Apps 183.5 Mn 4.71 Mn 3.3 Mn Users Key User Registered User Base Merchants Statistics 30 Sep 2025 30 Sep 2025 71 K Merchants +10% YoY +7% YoY Newly add
Slide 11: Payments & Financial Services: Strong Profit Growth Across Both Verticals
Header Payments & Financial Services : Strong Profit Growth Across Both Business Verticals GMV (1) Revenue Direct Cost Gross Profit Revenue Streams GM (%) (INR Bn) (INR Mn) (INR Mn) (INR Mn) Payments 432 2,089 1,476 614 29.4% Merchant Fee & Convenience fees +13% - 3.9% +3.2% (User) 384 2,131 1,536 5
Slide 12: Payments: Amongst Top 3 Fastest Growing UPI Apps
Header Payments: Amongst Top 3 Fastest Growing UPI Apps; Explosive 3.5x YoY Growth Customer Initiated UPI Transactions 138.26 (Mn) 3.5X Growth YoY 100.05 UPI Continues to be a Strategic 77.65 Growth Driver: 54.09 • Continue to engage high-quality 40.12 UPI users leveraging payment & credit products
Slide 13: Payments: Momentum Accelerates with 53% YoY GMV Surge
Header Payments: Momentum Accelerates with 53% YoY GMV Surge Payments GMV (INR Bn) Registered Users (Mn) Merchants (Mn) QoQ YoY QoQ YoY QoQ YoY 4.71 4.71 432 53% 432 180 1.8% 183 9.9% 183 4.64 1.5% 7.0% 13% 4.40 167 384 283 Q1FY26 Q2FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY26 Q2FY25
Slide 14: Payments: Gross Profit continues uptick with 71% YoY increase
Header Payments: Gross Profit continues uptick with 71% YoY increase Revenue from Payments (INR Mn) & Payments Gross Margin (%) QoQ YoY Gross Margin (1) 27.9% 29.4% Gross Margin (1) 19.2% 29.4% (%) (%) Payments Revenue 2,131 2,089 Payments Revenue 1,877 2,089 (INR Mn) (INR Mn) 71% 613.61 594.33 3.2%
Slide 15: Payments: Industry Leading Net Payments Margin
Header Payments: Consistently Delivering Industry leading Net Payments Margin Unit Economics of Payments Business (bps ) (1) Particulars (in bps) Q2FY25 Q1FY26 Q2FY26 Payments Revenue(1) 66 56 48 Payments Gateway (48) (37) (31) Costs (1) User Incentive costs(1) (6) (4) (3) Net Payments Margin (2) 13
Slide 16: Financial Services: Margin Making A Strong Comeback
Header Financial Services: Margin Making A Strong Comeback, Gross Profit climbs 231% QoQ Digital Credit GMV (Distribution) (INR Mn) Revenue from Financial Services (INR Mn) & Gross Margin (%) (1) QoQ YoY QoQ YoY 8,071 16,260 Financial 13.3% 41.8% 48.0% (3) 41.8% Services GM (%)(1) 1,271 6,931 613 16
Slide 17: Financial Services: Net FS Margin Jumps to 3X in a Quarter
Header Financial Services: Net FS Margin Jumps to 3X in a Quarter Unit Economics of Financial Services (as a % of Digital Credit GMV) Particulars Q2FY25 Q1FY26 Q2FY26 Revenue from Financial 7.82 % 8.41 % 7.59 % Services(1) Lending Related (4.07) % (7.30) % (4.42) % Expense (1) Net Financial Services
Slide 18: Consolidated Financials
CONSOLIDATED FINANCIALS
Slide 19: Consistent QoQ Contribution Expansion, Driven By Cost Optimisation
Header Consistent QoQ Contribution Expansion, Driven By Cost Optimisation Total Income buildup (INR Mn) & CM (%) Fixed Cost (INR Mn) & Fixed Cost (%) QoQ YoY QoQ YoY Contribution Fixed 27.5% 34.4% 40.2% 34.4% 38.6% 36.7% 37.8% 36.7% Margin (CM) Cost (1) (1)(2) (%) (%) 1,086 1,111 2,936.7 2,793.3 1,0
Slide 20: Turning Momentum into Milestone: EBITDA Gain, Profits in Sight
Header Turning Momentum into Milestone: ₹24.8 Cr EBITDA Gain, Profits in Sight EBITDA (INR Mn) & EBITDA Margin (%) PAT (INR Mn) & PAT Margin (%) QoQ YoY QoQ YoY EBITDA (1) PAT(1) Margin (11.1)% (2.3)% 2.3% (2.3)% Margin (14.9)% (6.0)% (1.2)% (6.0)% (%) (%) 68 (36) (64) (64) (168) (168) 80% (312) (41
Slide 21: On Path to Breakeven - Leaner Costs, Stronger CM
Header On Path to Breakeven - Leaner Costs, Stronger CM in Q2FY26 Q2FY26 EBITDA Lands at (6.4) Cr, Up by 24.8 Cr QoQ 2,793 (1,832) QoQ Updates 91 Revenue Steady (1,476) Direct Cost 10% Contribution Profit 24% 2,089 (356) 961 Fixed Cost 5.7% 91 EBITDA 80% 614 256 613 (1,025) (1,025) (64) (64) Q2FY26
Slide 22: Q2FY26 Delivers Strong Operating Performance, Setting Tone for Q3
Header Q2FY26 Delivers Strong Operating Performance, Setting Tone for Q3 24% QoQ growth in Contribution Profit 40% 34% 40% 1,500 27% 27% 30% 23% 1,179 1,000 20% 961 774 730 636 500 10% 0% - Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 80% QoQ growth in EBITDA (₹24.8 Cr Swing) 68 (64) (312) (427) (458) Q2FY25
Slide 23: Future Opportunities
FUTURE OPPORTUNITIES 22
Slide 24: Unlocking Future Value
Header Unlocking Future Value Zaakpay Stock Broking New Product AI-powered Payment Gateway Launches Initiatives • RBI Licensed PA/PG powering • SEBI approval for stock broking • FX Retail in partnership with • AI-powered product marquee brands • One platform for every Indian NBBL and RBI innovations
Slide 25: Zaakpay | Stock Broking: Building new revenue streams
Header Zaakpay I Stock Broking: Building new revenue streams Zaakpay Stock Broking • Introduced a new, refreshed digital presence & • Received SEBI approval to carry on the future-ready platform with faster navigation activities of buying, selling, dealing, clearing, and streamlined access for Start
Slide 26: New Product Launch #1: FX Retail powered by Bharat Connect
Header New product launch #1: FX Retail powered by Bharat Connect Expanded Financial Access for Bharat: Redefining Forex to be as simple as a bill payment, bringing forex purchase to every Indian. Pioneer of Digital Forex Retail: The first solution to offer a fully digital, no- middleman path to buy
Slide 27: New Product Launch #2: RBI-Issued Digital Rupee
Header New Product Launch #2: RBI-Issued Digital Rupee Pioneering Digital Rupee Adoption: As one of the first Fintechs to go live with the RBI's Digital Rupee (e₹), we are driving the early adoption of India's sovereign digital currency. Empowering Bharat with Digital Payments: Digital Rupee enables
Slide 28: AI-Powered Product Initiatives: Driving Intelligence & Efficiency
Header AI-Powered Product Initiatives: Driving Intelligence & Efficiency • Unifies Bank, stock, and MF data via a • Empathetic AI Collections: Replaces • An experimental innovation proposing smart interface for a complete, real- manual calls with human-like, voice-based UPI payments, removing time p
Slide 29: Quarterly KPIs
QUARTERLY KPIs 28
Slide 30: Payments Business – Quarterly Key Performance Indicators
Header Payments Business – Quarterly Key Performance Indicators (KPIs) For the quarter ended For the quarter ended Key Performance Indicator Unit 30-Sep-25 30-Jun-25 Payments GMV INR Mn 4,32,167 3,83,882 Payment gateway GMV INR Mn 8,970 7,849 Platform Spend GMV INR Mn 4,41,137 3,91,731 Registered Us
Slide 31: Financial Statements - Quarterly Key Performance Indicators
Header Financial Statements - Quarterly Key Performance Indicators (KPIs) For the quarter ended For the quarter ended Key Performance Indicator Unit 30-Sep-25 30-Jun-25 Digital Credit GMV INR Mn 8,071 6,931 ZIP EMI GMV (Disbursements) INR Mn 8,071 6,931 Activated - Zip EMI Users Mn 1.4 1.3 ZIP EMI T
Slide 32: Financial Statements - Quarterly Key Performance Indicators
Header Financial Statements - Quarterly Key Performance Indicators (KPIs) For the quarter ended For the quarter ended Key Performance Indicator Unit 30-Sep-25 30-Jun-25 Payments Take Rate % 0.5% 0.6% Financial Services Take Rate % 7.6% 8.4% Revenue from operations INR Mn 2,702 2,714 Gross Margin - P
Slide 33: Wealth Distribution
Wealth Distribution 32
Slide 34: Our Mission
Header Our MISSION Creating personalized financial solutions that are simple, secure and accessible Trustworthy & simple | Hyper-personalized | AI-Driven 33
Slide 35: 2-Sided Payments Business: Consumers <==> Merchants
Header 2-Sided Payments Business: Consumers <==>Merchants Consumer payments solutions for everyday expenses and bill payments 34
Slide 36: 2-Sided Payments Business: Consumers <==> Merchants
Header 2-Sided Payments Business: Consumers <==>Merchants Merchants accept payments via our Checkout, QR, Soundbox and EDC products 35
Slide 37: Diversified Credit Offerings
Header Diversified Credit Offerings 36
Slide 38: Deepening User Engagement with Wealth Offerings
Header Deepening User Engagement with Wealth Offerings 37
Slide 39: Thank You
THANK YOU 38
Slide 40: Disclaimer
Disclaimer Header By attending the any earnings-related event or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by One MobiKwik Systems Limited (“Company”) are solely for information purposes, without regard to any specific objectives, financial si