Cholamandalam Investment And Finance Co. Ltd. · NSE:CHOLAFIN

Cholamandalam Investment And Finance — Q3 FY26 Earnings Presentation

111 slides from Cholamandalam Investment And Finance's earnings presentation, Jan 30, 2026

1. Slide 1: Cover letter to stock exchanges

   30 January, 2026 The Secretary The Secretary National Stock Exchange of India Limited BSE Ltd. Trade World, 4th Floor, Kamala Mills Compound, 1st Floor, P.J. Towers Senapati Bapat Marg, Dalal Street, Fort, Lower Parel, Mumbai 400 001 Mumbai 400 013 Dear Sirs / Madam, Sub.: Investor Presentation for

2. Slide 2: Corporate Presentation December 2025

   CORPORATE PRESENTATION December 2025

3. Slide 3: Table of Contents

   Table of Contents Image result for group overview 1. Group 2. Corporate 3. Financial 4. Business overview overview performance segments' overview 5. Funding 6. Subsidiaries 7. Environmental 8. Risk 9. Information performance Social Governance Management Technology profile 2

4. Slide 4: Murugappa Group Overview

   Murugappa Group Overview 3

5. Slide 5: Murugappa Group in a Nutshell

   Murugappa Group in a Nutshell AGRICULTURE ENGINEERING FINANCIAL SERVICES Market Cap(Cr.) 67,064 18,417 16,315 50,599 1,02,075 1,43,662 NA 34,087 Turnover (Cr.) 24,085 31,609 4,834 7,431 9491 25,846 8,927 86 2,055 1,773 293 1,297 974 4,263 507 65 PAT(Cr.) 125 Years of $10.2 Consolidated Years Existen

6. Slide 6: Corporate Overview

   cB) PY © Ls O ok i Oo UO = v fe © > O

7. Slide 7: Our journey so far

   Our journey so far FY 1979-2010 FY 2010-2015 FY 2016-2020 FY 2021-2022 FY 2024 FY 2025 FY 2026 2011 2016 2021 2024 2025 2026 • Equipment financing & • Terminated JV with • New LEAP LOS Digital • LAP platform • Total AUM crossed • Total AUM • Total AUM crossed • VF business DBS platform digitization

8. Slide 8: Highlights – Q3 FY26 & YTD Dec25

   Highlights – Q3 FY26 & YTD Dec25 Particulars Q3 FY26 Vs Q3 FY25 YTD Dec25 Vs YTD Dec24 Disbursement grew at 16% to Rs.29,962 Cr as Disbursement grew at 6% to Rs.78,729 Cr as Disbursement compared to Rs. 25,806 Cr compared to Rs. 74,452 Cr Business AUM Rs.2,10,722 Cr, a growth of 21%. NIM Improved to

9. Slide 9: Strong Geographical Presence

   Strong Geographical Presence 73 112 118 Ladakh (1) 724 718 712 692 Jammu & Kashmir (10) Punjab (34) Himachal Pradesh (25) Chandigarh (1) 1613 1630 1637 1639 Uttarakhand (23) Haryana (52) Sikkim (3) Arunachal Delhi (9) Pradesh (1) Rajasthan (121) UP (121) Assam (43) FY25 Q1FY26 Q2FY26 Q3FY26 Physical

10. Slide 10: Financial Overview

    Financial Overview Peeseay mai (i yi | Ta ii, F ff Thabo. oe \ ne me 4801.01

11. Slide 11: Financial Snapshot —15 Years

    Financial Snapshot —15 Years ₹ Cr Recovery and Stabilsation COVID New Growth FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR CAGR CAGR Financials Snapshot YoY (10 (15 IGAAP IGAAP IGAAP IGAAP IGAAP IGAAP IGAAP INDAS INDAS INDAS INDAS INDAS INDAS INDAS INDAS (5 years) y

12. Slide 12: Chola – Disbursement & Portfolio Mix – Q3 FY26

    Chola – Disbursement & Portfolio Mix – Q3 FY26 Well diversified product segments Disbursements (%) - Product wise Portfolio (%) - Product wise 3 Wheeler 3 Wheeler SBPL SBPL 1% 1% 2% 1% SME 2 Wheeler SME 2 Wheeler 4% 4% 6% 7% CSEL 7% CSEL 9% Us ed Vehicles HL 15% Us ed Vehicles 10% HL 16% 7% Tra ctor

13. Slide 13: Disbursements

    Disbursements Disbursements (₹Cr) Disbursements (%) 6% -0.03% 1% 16% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 GOLD 100 467 772 1,339 GOLD 0.4% 2% 3% 4% SBPL 268 359 312 385 331 429 911 1,173 SBPL 1% 2% 1%

14. Slide 14: Assets Under Management

    Assets Under Management Business - Assets under Management (₹Cr) Business - Assets under Management (%) Q1 Q1 Q2 Q2 Q3 Q3 Q1 Q1 Q2 Q2 Q3 Q3 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 GOLD 97 456 980 Gold 0.1% 0.2% 0.5% SBPL 1,618 2,671 1,863 2,932 2,115 3,221 SBPL 1% 1% 1% 1% 1% 2%

15. Slide 15: Profitability and Net worth

    Profitability and Net worth Profit after tax (₹Cr) Networth (₹Cr) 3,579 *25,895 *27,577 *24,715 169 2,992 168 *22,593 168 *21,365 *20,525 168 168 168 25,726 27,408 24,547 21,196 22,425 1,288 20,357 1,136 1,155 1,087 942 963 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 FY25 FY26 FY25 FY26 FY25 FY26 De

16. Slide 16: Asset Ratios

    Asset Ratios Net Income Margin (%) Expenses Ratio (%) 7.9% 8.0% 7.9% 3.1% 3.1% 7.8% 7.7% 3.0% 3.1% 3.0% 3.1% 7.6% 7.5% 7.6% 3.0% 2.9% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 Loan Losses & Provisions (%) ROA

17. Slide 17: Shareholding

    Shareholding Shareholding Pattern Institutional Holders (More than 1%) Corporate Bodies Top Domestic Institutional Holding Mutual 4.73% Funds • Axis Mutual Fund 13.43% • SBI Mutual Fund Public • Invesco Mutual Fund 4.97% • Motilal Oswal Promoters 49.72% • Kotak Mutual Fund Top Foreign Institutional

18. Slide 18: Shareholders’ Returns Ratios

    Shareholders’ Returns Ratios Return on equity (%) Earnings per share (₹) 19.7% 19.1% 60.5 18.9% 18.8% 18.9% 18.7% 18.2% 18.1% 56.4 54.2 54.5 51.3 45.0 45.5 47.3 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 P/E

19. Slide 19: Profit and Loss Statement (As per IND AS)

    Profit and Loss Statement (As per IND AS) ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2 FY26 Q3 FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 24,332 24,325 24,314 24,442 25,806 29,962 16% 74,452 78,729 6% Asset Under Management 1,68,832 2,07,663 1,77,426 2,14,906 1

20. Slide 20: Balance Sheet (As per IND AS)

    Balance Sheet (As per IND AS) ₹ Cr Particulars Dec24 Mar25 Dec25 ASSETS Financial Assets 1,89,296 1,98,578 2,25,640 Cash and Bank balance 9,286 9,401 11,224 Derivative financial instruments 316 203 836 Receivables 310 304 462 Loans 1,72,726 1,81,930 2,04,776 Investments 6,395 6,390 7,690 Other Finan

21. Slide 21: Stagewise Assets & Provision Summary

    Stagewise Assets & Provision Summary ₹ Cr Sep-25 Dec-25 Sep-25 Dec-25 Particulars INR Cr INR Cr % to GA % to GA Gross Assets 1,98,081 2,08,989 100.0% 100.0% Stage 1 1,85,338 1,95,956 93.57% 93.76% Stage 2 6,116 6,020 3.09% 2.88% Stage 3 6,627 7,013 3.35% 3.36% Provision 4,034 4,214 2.04% 2.02% Stage

22. Slide 22: Stagewise ECL Summary – Dec 25

    Stagewise ECL Summary – Dec 25 ₹ Cr Total Total Particulars Asset Provn NNPA Asset Provn NNPA Rs in Cr % Stage 1A (A ) 1,95,433 679 1,94,754 93.51% 0.35% 93.19% Stage 1B (B ) 524 19 504 0.25% 3.70% 0.24% Total Stage 1 (C ) 1,95,956 698 1,95,258 93.76% 0.36% 93.43% Stage 2A (D ) 3,878 298 3,579 1.86%

23. Slide 23: Stage 3 Assets Product-wise

    Stage 3 Assets Product-wise ₹ Cr Closing Gross Stage 3 ECL Provision Net Stage Net Asset Class Asset Stage 3 Asset % Provision Coverage 3 Stage 3% Dec25 2,08,989 7,013 3.36% 3,018 43.03% 3,995 1.91% VF 1,15,879 4,835 4.17% 2,192 45.34% 2,643 2.28% LAP 44,033 1,071 2.43% 383 35.75% 688 1.56% HL 21,61

24. Slide 24: Chola – Stage 3 Assets Trend

    Chola –Stage 3 Assets Trend As per revised RBI norms GNPA% & NNPA% as of Dec25 is at 4.63% and 3.13%, respectively. 23

25. Slide 25: Business Overview

    Business Overview 24

26. Slide 26: Auto Ecosystem - VF

    AUTO ECOSYSTEM - VF

27. Slide 27: Ecosystem Play in the AUTO Sector

    Ecosystem Play in the AUTO Sector CV PV Low Industry Low Low Industry Low Chola Position Chola Position Principal Operator Salaried > 50 Vehicles Large Operators 26- 50 vehicles HCV Self Employed with Returns Returns Financials RISK RISK Medium Operators 10 -25 – HCV & LCV vehicles Taxi and Tour Ope

28. Slide 28: Ecosystem Play in the AUTO Sector

    Ecosystem Play in the AUTO Sector Tractor CE Low Industry Low Low Industry Low Chola Position Super Strategic Chola Position Large Farmer Strategic Customer Captive Users / Prior Vehicles Captive Users/Prior Vehicles Returns Returns Medium Retail operator RISK RISK Medium Farmers Small Retail Operat

29. Slide 29: Sector outlook – Vehicle Finance business (1/3)

    Sector outlook – Vehicle Finance business (1/3) Sector Outlook Chola’s Position ▪ The Heavy Commercial Vehicle (HCV) segment ▪ We will continue to closely monitor this segment witnessed 20% growth in Q3 FY26 & 6% in YTD and align our growth approach with industry Dec’25. Q3 FY26 witnessed a sequenti

30. Slide 30: Sector outlook – Vehicle Finance business (2/3)

    Sector outlook – Vehicle Finance business (2/3) Sector Outlook Chola’s Position ▪ The Passenger Vehicle (Car&MUV) segment ▪ We will continue our focus in this segment recorded a growth of 21% in Q3 FY’26 & 6% in in line with the industry momentum. YTD Dec’25 with an all time high sales number. The s

31. Slide 31: Sector outlook – Vehicle Finance business (3/3)

    Sector outlook – Vehicle Finance business (3/3) Sector Outlook Chola’s Position ▪ The Construction Equipment segment had a ▪ Our exposure in this segment is around 6% at de-growth of 6% in Q3 FY’26 & 10% in YTD the portfolio level, and we will continue to Dec’25, impacted by a high base effect. buil

32. Slide 32: Auto Industry Outlook

    Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales Chola 4 year Chola YoY growth rate 18% Chola 4 year (in Units) Chola YoY growth rate 28% (in Units) CAGR 8% CAGR (5%) CAGR @ 5% CAGR @ 5% 193129 55005 51832 166832 46679 45747 133589 44645 112124 105589 Q3 FY'23 Q3 FY'24 Q

33. Slide 33: Auto Industry Outlook

    Auto Industry Outlook Trend in Domestic HCV Sales Trend in Domestic Car & MUV Sales Chola 4 year Chola 4 year Chola YoY growth rate 56% (in Units) Chola YoY growth rate 26% (in Units) CAGR 31% CAGR 21% CAGR @ 7% CAGR @ 5% 1458731 106623 1260107 87036 75773 1014125 1045405 72918 72785 936880 Q3 FY'23

34. Slide 34: Vehicle Finance - Disbursement/Portfolio Mix Statewise – Q3 FY26

    Vehicle Finance - Disbursement/Portfolio Mix Statewise – Q3 FY26 Well diversified across geography Disbursements - State wise Portfolio - State wise Dadra and Nagar Haveli Dadra and Nagar Haveli & & Daman and Diu Daman & Diu MP AP Karnataka MP AP 0.05% 0.04% Karnataka Maharashtra Maharashtra 5% 5% 6

35. Slide 35: Vehicle Finance - Disbursement/Portfolio Mix – Q3 FY26

    Vehicle Finance - Disbursement/Portfolio Mix – Q3 FY26 Well diversified product segments Disbursements (%) - Product wise Portfolio (%) - Product wise HCV HCV 3 Wheeler 7% 3 Wheeler 7% CE 2% CE 1% LCV 6% LCV 6% 15% 19% 2 Wheeler 2 Wheeler 7% 12% MUV 12% MUV Used Vehicles 13% 27% Used Vehicles 29% CA

36. Slide 36: Vehicle Finance - Disbursement Mix – Quarter-wise

    Vehicle Finance - Disbursement Mix – Quarter-wise Disbursement (₹Cr) - Product wise Disbursement (%) – Product wise * 16,805 1,014 6% 6% 5% 5% 6% Low Yield * 14,390 * 14,430 1,232 6% 6% 6% 7% 7% 816 * 13,647 * 13,539 912 670 632 2,494 15% 17% 16% 854 1,051 16% 15% 782 768 Medium Yield 2,116 2,333 11

37. Slide 37: Vehicle Finance - Portfolio Mix – Quarter-wise

    Vehicle Finance - Portfolio Mix – Quarter-wise Portfolio (₹Cr) - Product wise Portfolio (%) – Product wise * 1,12,937 * 1,07,568 6% 6% 6% 6% 6% * 1,04,720 6,982 * 1,01,257 7% 7% 7% 7% 7% * 96,673 6,600 7,746 6,571 6,490 7,172 7,058 Low Yield 6,232 19% 19% 19% 19% 19% 6,882 6,398 21,167 20,753 20,158

38. Slide 38: Vehicle Finance: Q3 FY26 & YTD Dec25 Performance

    Vehicle Finance: Q3 FY26 & YTD Dec25 Performance Disbursements grew by 17% in Q3 FY26 to Rs. 16,805 Cr as compared Disbursements to Q3 FY25 and by 11% in YTD Dec25 to Rs.43,991 as compared to YTD Dec24. Assets under AUM has grown by 17% YoY. management Loss and Loan losses at 2.0% in Q3 FY26 from 1.

39. Slide 39: Vehicle Finance - Disbursements and Asset Under Management

    Vehicle Finance - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under management (₹Cr) 43,991 * 1,12,937 *1,04,720 *1,07,568 2 39,492 4 * 96,673 6 *92,012 *88,638 12 27 18 1,07,564 1,12,935 1,04,714 91,994 96,660 88,611 16,805 12,766 13,647 13,539 14,390 12,336 Q1 Q1 Q2 Q2 Q3 Q

40. Slide 40: Vehicle Finance - Income and Profit before tax

    Vehicle Finance - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 12,070 2,077 1,918 10,307 4,212 758 3,848 4,010 691 667 3,433 3,619 620 628 631 3,255 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY25 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24

41. Slide 41: Vehicle Finance - Asset Ratios

    Vehicle Finance - Asset Ratios Net Income Margin (%) Expense Ratio (%) 7.9% 7.8% 7.8% 8.0% 7.9% 8.2% 7.9% 8.0% 3.4% 3.5% 3.3% 3.2% 3.3% 3.3% 3.1% 3.2% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 Loan Losses &

42. Slide 42: Profit and Loss Statement - Vehicle Finance (Managed)

    Profit and Loss Statement - Vehicle Finance (Managed) ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2 FY26 Q3 FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 12,766 13,647 12,336 13,539 14,390 16,805 17% 39,492 43,991 11% Asset Under Management 88,638 1,04,720 92,012 1

43. Slide 43: VF – Stage 3 Assets Trend

    $} Chola Enier a better life VF -Stage 3 Assets Trend Be murugappa 13.00% 47.48% 46.84% 46.51% 50.00% 45.44% 45.48% 46.16% 45.75% 45.97% 46.29% 4s so% 45.46% 45.34% 11.00% | 41.74% 45.00% 40.00% 9.00% 35.00% 7.00% 30.00% 5.00% 411% 417% 3.63% . 3.67% 3.89% 3.20% 3.35% 3.29% 302% 3.27% 3.60% 3.52% ‘

44. Slide 44: MSME Ecosystem – LAP, SME & SBPL

    MSME Ecosytem – LAP, SME & SBPL

45. Slide 45: Ecosystem Play in the MSME Sector

    Ecosystem Play in the MSME Sector Represents Chola’s presence Larger enterprises largely focused by Banks Large SME Focused by via SME business since the last 3 years Medium (SENP) Focused by via LAP business since the last 19 years Mini (SENP) Focused by via SBPL business since the last 3 years Pro

46. Slide 46: MSME Ecosystem – Q3 FY26 & YTD Dec25 Performance

    MSME Ecosystem – Q3 FY26 & YTD Dec25 Performance Disbursements grew by 17% in Q3 FY26 at Rs. 7,554 Cr as compared to Q3 Disbursements FY25 and grew by 8% in YTD Dec25 to Rs.20,919 Cr as compared to YTD Dec24. Asset under AUM has grown by 32% YoY. management Loss and Loan losses at 0.5% in Q3 FY26 fr

47. Slide 47: MSME Ecosystem - Disbursements and Asset Under Management

    MSME Ecosystem - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) *20,919 * 60,722 *19,315 1,173 *56,778 3,221 911 * 53,734 2,932 2,671 8,338 5,125 7,544 * 45,956 6,029 7,119 *42,564 2,115 * 39,329 1,863 6,277 1,618 5,877 5,576 *7,554 *6,566 *6,597 *6,446 49

48. Slide 48: MSME Ecosystem– Income and Profit before tax

    MSME Ecosystem– Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) * 5,671 542 * 1,568 713 * 4,158 157 341 115 * 1,084 537 100 77 * 2,018 4,417 * 1,759 * 1,894 * 562 * 1,504 197 * 482 * 524 1,296 * 1,268 165 * 1,386 180 3,280 * 380 56 98 213 115 240 129 260 * 347 49 * 356 52 35 45 907

49. Slide 49: MSME Ecosystem – Asset Ratios

    MSME Ecosystem – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 6.4% 6.5% 6.4% 2.3% 2.3% 6.1% 6.2% 6.0% 6.1% 6.1% 2.2% 2.2% 2.3% 2.0% 2.1% 2.1% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 Loan Losses &

50. Slide 50: Profit and Loss Statement – MSME Ecosystem

    Profit and Loss Statement – MSME Ecosystem ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1FY26 Q2FY25 Q2FY26 Q3FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 6,302 6,769 6,566 6,597 6,446 7,554 17% 19,315 20,919 8% Asset Under Management 39,329 53,734 42,564 56,778 45,956 60,722 32%

51. Slide 51: Loan Against Property

    CO OED e—™ Loan Against Property

52. Slide 52: Loan Against Property – Q3 FY26 & YTD Dec25 Performance

    Loan Against Property – Q3 FY26 & YTD Dec25 Performance Disbursements grew by 26% in Q3 FY26 to Rs. 5,285 Cr as compared to Disbursements Q3 FY25 and by 18% in YTD Dec25 to Rs.14,621 Cr as compared to YTD Dec24. Asset under AUM has grown by 31% YoY. management Loss and Loan losses remains at 0.2% in

53. Slide 53: Loan Against Property: Industry outlook

    Loan Against Property: Industry outlook Sector Outlook Chola’s Position • Crisil Intelligence expects overall NBFC credit to grow at a • Chola’s LAP team continues to focus on retail rate of 18-19% during the fiscal years FY26 and FY27 customers especially in smaller towns and rural primarily driven

54. Slide 54: Loan Against Property - Disbursements and Asset Under Management

    Loan Against Property - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) * 49,162 * 46,302 * 43,943 5,678 14,621 4,842 4,226 * 37,564 12,374 * 34,824 1,517 * 32,135 702 759 41,460 43,484 39,717 34,121 36,047 31,376 5,285 4,705 4,295 4,630 3,874 4,205 Q1 Q1 Q

55. Slide 55: Loan Against Property – Income and Profit before tax

    Loan Against Property – Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 4,417 1,296 3,280 907 1,474 1,561 431 460 1,382 405 1,091 1,183 320 1,006 292 295 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24

56. Slide 56: Loan Against Property – Asset Ratios

    Loan Against Property – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 5.8% 5.9% 5.7% 5.7% 5.6% 5.6% 5.6% 5.8% 2.0% 1.9% 1.9% 1.8% 1.8% 1.7% 1.7% 1.6% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 Loan Los

57. Slide 57: Profit and Loss Statement - Loan Against Property (Managed)

    Profit and Loss Statement - Loan Against Property (Managed) ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2 FY26 Q3 FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 3,874 4,705 4,295 4,630 4,205 5,285 26% 12,374 14,621 18% Asset Under Management 32,135 43,943 34,824 46,

58. Slide 58: LAP – Stage 3 Assets Trend

    $} Chola LAP —Stage 3 Assets Trend Be Enter a better life murugappa 12.00% 46:J1% 44.90% 44.97% 43.99% 4 44.42% 42.50% 21.88% 49.42% 41 45.00% 37.81% 10.00% | 37-6 36.54% 35 75% | 40.00% 35.00% 8.00% 30.00% 25.00% 6.00% | 4.76% yp 402% 3.80% 20.00% 4.00% 479% = = 38% 3.03% s mS : L 15.00% 188% liqx|

59. Slide 59: Profit and Loss Statement – SBPL

    Profit and Loss Statement – SBPL ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2 FY26 Q3 FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 268 359 312 385 331 429 30% 911 1,173 29% Asset Under Management 1,618 2,671 1,863 2,932 2,115 3,221 52% 2,115 3,221 52% Income 98 1

60. Slide 60: Profit and Loss Statement – SME

    Profit and Loss Statement – SME ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2 FY26 Q3 FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 2,160 1,705 1,959 1,581 1,911 1,839 -4% 6,029 5,125 -15% Asset Under Management 5,576 7,119 5,877 7,544 6,277 8,338 33% 6,277 8,338 3

61. Slide 61: Consumer Ecosystem – CSEL, HL, CD & Gold

    Consumer Ecosytem – CSEL, HL, CD & Gold

62. Slide 62: Consumer Ecosystem – Q3 FY26 & YTD Dec25 Performance

    Consumer Ecosystem – Q3 FY26 & YTD Dec25 Performance Disbursements grew by 13% to Rs. 5,604 Cr in Q3 FY26 as compared to Disbursements Q3 FY25 and at Rs. 13,819 Cr in YTD Dec25 as compared to Rs.15,645 in YTD Dec24. Asset under AUM has grown by 16% YoY. management Loss and Loan losses improved at 3.

63. Slide 63: Consumer Ecosystem - Disbursements and Asset Under Management

    Consumer Ecosystem - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) * 37,064 *34,813 980 *15,645 *33,694 456 * 31,938 97 *13,819 *30,067 *27,474 5,421 1,339 21,691 19,399 20,405 17,121 15,892 5,468 14,565 -26% *5,264 *5,411 *5,604 *4,969 *4,306 772 10,224

64. Slide 64: Consumer Ecosystem– Income and Profit before tax

    Consumer Ecosystem– Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) * 4,542 * 788 * 690 * 3,871 2,368 1,838 511 626 -16% * 1,500 * 1,578 * 1,464 * 264 * 1,307 * 1,392 * 222 * 268 * 220 * 256 * 248 * 1,172 729 789 850 617 663 2,032 2,134 163 171 177 558 182 225 285 219 613 734 690 6

65. Slide 65: Consumer Ecosystem – Asset Ratios

    Consumer Ecosystem – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 10.7% 10.7% 10.5% 4.4% 4.3% 4.3% 10.2% 10.1% 10.3%10.3% 10.1% 4.2% 4.3% 4.1% 4.3% 4.3% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 Loan

66. Slide 66: Profit and Loss Statement – Consumer Ecosystem

    Profit and Loss Statement – Consumer Ecosystem ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1FY26 Q2FY25 Q2FY26 Q3FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 5,264 3,910 5,411 4,306 4,969 5,604 13% 15,645 13,819 -12% Asset Under Management 27,474 33,694 30,067 34,813 31,938 37,06

67. Slide 67: Home Loans

    Home Loans 66

68. Slide 68: Home Loans - Industry outlook

    Home Loans - Industry outlook Sector Outlook Chola’s Position • Moderation in business growth in FY2025 & Q1 FY2026 • Chola’s home loans business is well positioned to vis-à-vis FY2024 resulting in book growth by 21% YOY in benefit from steady demand for affordable housing FY25 and Q1FY 26. The unde

69. Slide 69: Home Loans – Q3 FY26 & YTD Dec25 Performance

    Home Loans – Q3 FY26 & YTD Dec25 Performance Disbursements grew by 10% at Rs. 2,007 Cr in Q3 FY26 as compared to Disbursements Q3 FY25 and grew by 1% at Rs. 5,468 Cr in YTD Dec25 as compared to YTD Dec24. Asset under AUM has grown by 27% YoY. management Loss and Loan losses at 1.1% in Q3 FY26 as com

70. Slide 70: Home Loans - Disbursements and Asset Under Management

    Home Loans - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) *21,691 5,421 5,468 *19,399 *20,405 253 267 281 *17,121 *15,892 311 *14,565 326 341 -1% -7% 20,138 21,438 19,117 15,566 16,810 2,007 14,224 1,764 1,823 1,697 1,820 1,778 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD

71. Slide 71: Home Loans - Income and Profit before tax

    Home Loans - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 2,368 626 1,838 511 789 850 219 225 729 663 617 182 171 177 558 163 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 70

72. Slide 72: Home Loans – Asset Ratios

    Home Loans – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 8.8% 8.9% 8.7% 8.6% 3.9% 8.4% 8.4% 8.4% 3.8% 3.8% 3.8% 8.0% 3.5% 3.5% 3.5% 3.5% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 Loan Losses & Provi

73. Slide 73: Profit and Loss Statement - Home Loans (Managed)

    Profit and Loss Statement - Home Loans (Managed) ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2 FY26 Q3 FY25 Q3FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 1,778 1,764 1,823 1,697 1,820 2,007 10% 5,421 5,468 1% Asset Under Management 14,565 19,399 15,892 20,405 17,121 21,

74. Slide 74: HL – Stage 3 Assets Trend

    $ Chola HL -Stage 3 Assets Trend se Enter a better life murugappa 5.00% 49.44% 49.27% 50.00% 4.00% 6.09% 36.44% . oe, 34.51% 32.63% 40.00% . 31.45% 30.90% 29.22% 28.49% 28.09% 27.66% 3.00% 30.00% 1.97% 20.00% 155% 156% | 255, 4 38% noon 132% 095% 1.04% 215% © 10.00% 0.00% 62 — ~10.00% Dec-22 Mar-23

75. Slide 75: Profit and Loss Statement – CSEL

    Profit and Loss Statement – CSEL ₹ Cr Growth % Growth % Particulars Q1 FY25 Q1 FY26 Q2 FY25 Q2FY26 Q3FY25 Q3FY26 H1FY24 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Disbursements 3,486 2,046 3,588 2,142 3,149 2,825 -10% 10,224 7,013 -31% Asset Under Management 12,909 14,199 14,175 13,952 14,817 14,393 -3%

76. Slide 76: Funding Profile

    Funding Profile 75

77. Slide 77: Diversified Borrowings Profile (I/II)

    Diversified Borrowings Profile (I/II) Borrowing mix by instrument type ₹ Cr * 1,67,076 * 1,74,946 * 1,81,304 * 1,87,515 * 1,97,810 3% 2% 1% 2% 1% 3% 1% 1% 2% 1% 2%1% 2% 3% 5% 6% 3% 3% 2% 3% 17% 15% 14% 16% 15% 6% 8% 7% 7% 7% 6% 7% 7% 7% 6% 11% 11% 12% 11% 11% 46% 44% 44% 43% 43% 6% 6% 7% 6% 6% Q3FY2

78. Slide 78: Diversified Borrowings Profile (I/II)

    Diversified Borrowings Profile (I/II) ₹ Cr Borrowing mix by investor type * 1,67,076 * 1,74,946 * 1,81,304 * 1,87,515 * 1,97,810 6% 7% 7% 6% 6% 17% 15% 14% 16% 15% 2% 3% 0.3% 2% 0.2% 2% 0.3% 3% 0.2% 0.3% 8% 7% 7% 7% 6% 52% 52% 52% 51% 52% 1% 1% 1% 1% 1% 7% 7% 7% 6% 6% 5% 5% 6% 7% 8% 3% 3% 3% 3% 3% Q

79. Slide 79: ALM Statement as of 31st Dec 2025 (As per IND AS)

    ALM Statement as of 31st Dec 2025 (As per IND AS) ₹ Cr Particulars 1m >1 to 2m >2 to 3m >3 to 6m >6m to 1 yr >1 to 3 yr >3 to 5 yr >5 yr Total Cash & Bank Balances 5,087.44 2,785.45 6,665.58 501.72 627.40 1,744.03 918.83 - 18,330.44 Advances 6,632.87 5,994.43 5,219.85 18,998.80 32,932.43 82,531.43 3

80. Slide 80: CAR and Credit Rating

    CAR and Credit Rating Capital Adequacy Ratio (CAR) – As per RBI guideline Tier I Tier II 18.57 19.75 19.96 20.00 19.16 3.47 5.34 5.65 5.41 4.95 15.10 14.41 14.31 14.59 14.21 FY24 FY25 Q1FY26 Q2FY26 Q3FY26 Minimum CAR Stipulated by RBI is 15% & for Tier I is 10% Loan type India ratings Care ICRA Cris

81. Slide 81: Consolidated Financials

    Consolidated Financials 80

82. Slide 82: Consolidated Profit & Loss

    Consolidated Profit & Loss ₹ Cr Growth % Growth % Particulars Q1FY25 Q1FY26 Q2FY25 Q2 FY26 Q3 FY25 Q3 FY26 YTD Dec24 YTD Dec25 (YTD) Q3-o-Q3 Y-oY Income 5,857 7,353 6,322 7,614 6,837 8,009 17% 19,016 22,975 21% Expenses 4,582 5,822 5,018 6,050 5,372 6,274 17% 14,972 18,144 21% PBT 1,275 1,531 1,304

83. Slide 83: Risk Management

    Risk Management 82

84. Slide 84: Our Enterprise Risk Management strategy covers all aspects of risk

    Our Enterprise Risk Management strategy comprehensively covers all aspects of risk 1 Risk Vision Risk Pillars 2 3 4 5 6 7 Cyber & Capital & Regulatory & Key Credit Fraud Information Liquidity Compliance Emerging Risk Risk Security Risk Risk Risks Risk 7 Risk Organization 8 Risk Governance & Reportin

85. Slide 85: Best-in-class practices across all key risk areas (I/II)

    We have integrated best-in-class practices across all key risk areas (I/II) Category Key Highlights Risk vision • Risk Appetite Statement implemented as a strategic lever: Strong linkage to functions with 1 well-defined thresholds and robust governance mechanisms Capital & • Well-diversified source

86. Slide 86: Best-in-class practices across all key risk areas (II/II)

    We have integrated best-in-class practices across all key risk areas (II/II) Category Key Highlights Built/ deployed robust capabilities, processes and toolkits to manage growing cyber risks • Deployed Brand Monitoring to identify and protect against misuse of our brand across digital platforms • Ro

87. Slide 87: Capital & Liquidity risk | Well managed with judicious buffers

    Capital & Liquidity risk | Well managed with judicious buffers maintained consistently ALM: Stringent Internal thresholds Liquidity: LCR reported is 246% -2.46x of RBI mandate on average Distribution of reported LCR (Q3 FY25 – Q3 FY26) Chola internal Time bucket RBI​ thresholds thresholds RBI mandat

88. Slide 88: Capital & Liquidity risk | Sufficient Tier 1 capital

    Capital & Liquidity risk | Sufficient Tier 1 capital (₹Cr) Per regulatory guidance, NBFCs to Chola held 14.21% Total RWA as on 31st Dec’25 maintain at least of RWA as Tier I 10% of RWA as Tier I capital as on 31st 1,85,478 capital Dec’25 ~Rs 1,693 Cr maintained as CCD as 1,693 part of Tier- 2 capita

89. Slide 89: Holistic risk management for credit risk mitigation

    Holistic risk management for credit risk mitigation Robust Business Decision Multi-faceted Proactive portfolio Matrix based on key criteria underwriting process monitoring at a customer level • Choosing right customer mix upfront for Input variables leveraged- • Rigorous non-starter/early default mo

90. Slide 90: Regulatory & compliance risk | Effective governance

    Regulatory & compliance risk | Effective governance augmented by a strong compliance function Governance & Compliance form the core of 20+ professionals every business and functional process with collective experience of 200+ years Strong ‘Compliance- first’ approach tone setting from the Board and

91. Slide 91: Regulatory & compliance risk | Robust compliance mechanisms

    Regulatory & compliance risk | Governance further strengthened by robust compliance mechanisms Regular Independent Audit Annual review and approval of all Committee meetings held key policies by the Board Specific focus on review of compliance of policies and processes Monthly concurrent Internal Di

92. Slide 92: Cyber risk | Regular monitoring & strong internal processes

    Cyber risk | Regular monitoring & strong internal processes to prevent, detect & mitigate cyber risk People Process Tools & Technology 1 • Well-equipped, adept team of security professionals to 3 Continued effort towards •5 Continuous expansion of suite of strengthening protocols tools to monitor th

93. Slide 93: Risk governance & reporting

    Risk governance & reporting | Clearly defined roles & responsibilities for effective corporate governance Organization structure setup to ensure effective governance Well-defined tracking mechanism & review cadence 1 RCSA (Risk control and self-assessment) conducted across • Oversee the entire risk

94. Slide 94: Information Technology

    Information Technology 93

95. Slide 95: Chola's overall technology focus spread across all layers

    Chola's overall technology focus spread across all layers Systems of Engagement Direct to Customer LOS CRM Partner Integration (GB, Chola One) Systems of Record Loan Customer Management Collections Accounting Treasury Database System Systems of Intelligence Other Core Areas Copyright © 2021 by Bosto

96. Slide 96: Organization-wide capabilities for digitization of Loan Origination System

    Organization-wide capabilities built for digitization of Loan Origination System (LOS) Loan Underwriting Sourcing Disbursement journey & Loan Sanction Integration with Partners / OEMs Third party validations Document digitization Validated KYC via golden sources Automated bureau checks E-Sign Digiti

97. Slide 97: Comprehensive digital Collection Management System

    We have a comprehensive digital Collection Management System to manage end-to-end collection process Analytics Engine 1 (EWS) 10 Easy payment through Bitly link Allocation Rule Engine Customers 2 (Automatic allocation) 11 Real time view of MIS/reports 3 E-receipts (view/download) 12 Integrated conta

98. Slide 98: Chola One platform envisioned to be a super-app

    Chola One platform envisioned to be a super-app, a one-stop-shop for all our products, lead generation, VAS, customer service Organic Traffic One-stop shop for financial products One-stop shopPhase for financial 1 products (SEO) Lending Insurance & WM VAS • PL • LI • Credit CSEL Propensity • VF • HI

99. Slide 99: Building an E2E integrated ecosystem for VF

    We are building an E2E integrated ecosystem for VF Monthly Avg. Used vehicle marketplace SEO Score1 Page authority Unique Users • Vehicle listing for selling (out of 100) (score out of 100) (site traffic) • Dealer info for buying 92 38 • GenAI Search 1.6M+ "Used truck" New vehicle discovery search r

100. Slide 100: Data and Analytics team across customer journey

     Our Data and Analytics team works across the entire value chain of customer journey EWS Model UW Scorecards mo A cc torin ou g ni nt nt Credit assessme Roll-forward Model Risk-based pricing l Cross sel Bureau enrichment & S al es for DPD customers Pre-approved offer Propensity models CIBIL Alerts ge

101. Slide 101: Environmental Social Governance

     Environmental Social Governance 100

102. Slide 102: Consecutively awarded for last 6 years

     Consecutively awarded for last 6 years……. FY21 • FTSE Russell - Included in FTSE4 Good Index series FY22 • FTSE Russell - Reaffirmed as constituent of FTSE4Good Index Series in June 2021. • FTSE Russell - Reaffirmed as constituent FY23 of FTSE4Good Index Series in June 2022. • FTSE Russell - Reaffir

103. Slide 103: We Believe In Making A Positive Impact In The Society

     ESG POLICY We Believe In Making A Positive Impact In The Society Environmental Social Governance As an environmentally responsible To enable better opportunity for all, we The company has strong commitment company, we focus on sustainability and ensure financial inclusion of to values and ethical bu

104. Slide 104: ESG Vision & Mission

     ESG VISION & MISSION Our Vision Giving Back To The Society Is Our Primary Goal 103

105. Slide 105: ESG Governance Structure

     ESG Governance Structure Board – The final authority for all the major policy and sustainability reports related to ESG CSR Committee – This Committee comprises of Board Chairman, an independent Director and a non- executive Director to support and advise Board on the company’s policies, strategies

106. Slide 106: Chola ESG Rating and Ranking

     Chola ESG Rating and Ranking CSRhub S&P Sustainalytics higher score indicates lower risks higher score indicates lower risks lower rank indicates lower risk 52 40 26 50 34 24.9 50 35 25 24.7 30 24.1 48 30 24 46 45 25 19 23 20 16 44 43 22 21.6 15 42 21 10 40 5 20 38 0 19 FY 23 FY 24 FY 25 FY 22 FY 23

107. Slide 107: Key ESG metrics (BRSR) – improvement

     Key ESG metrics (BRSR) – improvement Chola – FY Chola – FY Pillar Metrics 25 24 Environment Renewable energy usage increased significantly 159 GJ 193.23 34.2 Environment Reduced Energy intensity per rupee of turnover 3.46 3.98 Environment Reduced Water intensity per rupee of turnover 22.88 27.94 Env

108. Slide 108: Social Responsibility Yearwise Thematic Allocation

     SOCIAL RESPONSIBILITY YEARWISE THEMATIC ALLOCATION (₹ Cr) 31 23 24 22 20 19 12 8 8 8 4 3 4 3 3 1 2 1 3 2 1 2 1 3 0.6 0.4 1 0.4 0.5 0.20.5 Others: Livelihood, Slum Development, 2021-22 2022-23 2023-24 2024-25 Disaster Relief, Senior Citizen Support 107 107

109. Slide 109: Contact us

     Contact us Cholamandalam Investment and Finance Company Limited (Chola), Chola Crest, C54-55 & Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Our registered Chennai - 600032. office Toll free number: 1800-200-4565 (9 AM to 7 PM) Land Line: 044–4090 7172 http://www.cholamandalam.com Sujatha P- Chi

110. Slide 110: Disclaimer

     Disclaimer • Certain statements included in this presentation may be forward looking statements made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Cholamandalam Investment and Finance Company Ltd and its subsidiaries. There can

111. Slide 111: Thank You

     oS Chola a Enter a better life murugappa THANK YOU Chola Crest, C54-55 & Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai - 600032. | Email: customercare@chola.murugappa.com | Website: www.cholamandalam.com Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company — Q3 FY26 Earnings Presentation on 6ix