Slide 1: Intimation of Schedule of Analyst/Investors Meeting
Date: December 15, 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: Disclosure under Regulation 30 of the SEBI
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 Mission
Header Our MISSION Creating personalized financial solutions that are simple, secure and accessible Trustworthy & simple | Hyper-personalized | AI-Driven 3
Slide 5: Evolved into one of the largest digital financial services platforms
Header Evolved into one of the largest digital financial services platforms 1 4
Slide 6: Our Stakeholders
Header Our Stakeholders Bajaj Finance Peak XV SBI Mutual Times Internet Bajaj Life Limited Partners Fund Limited Insurance Government Pension Fund Global HDFC Mutual American Cisco GMO Global Axis Mutual Fund Express Fund 1 *As per shareholding dated Dec 09, 2025 5
Slide 7: 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 8: 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 9: Payments: Two-Sided Payments Business, Consumers
Header Payments: 2 - Sided Payments Business: Consumers <==>Merchants Consumer payments solutions for everyday expenses and bill payments 8
Slide 10: Payments: Two-Sided Payments Business, Merchants
Header Payments: 2 - Sided Payments Business: Consumers <==>Merchants Merchants accept payments via our Checkout, QR, Soundbox and EDC products 9
Slide 11: Payments: Among Top 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 e ngage high - quality 40.12 UPI users leveraging payment & credit produc
Slide 12: Payments: Momentum Accelerates with 53% YoY GMV Surge
Header Payments: Momentum Accelerates with 53% YoY GMV Surge in Q2FY26 Payments GMV (INR Bn) Registered Users (Mn) Merchants (Mn) 432 4.64 4.71 4.51 4.59 384 183 4.40 180 176 172 331 167 294 283 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26
Slide 13: 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 (%) Gross Margin (1) 19.2% 18.9% 23 .9% 27.9% 29 .4% (%) Revenue from 1,877 1,965 2,116 2,131 2,089 Payments 504.86 594.33 Gross 370.82 613.61 359.65 Profit 140.43 157.21 108.4
Slide 14: 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 Q3FY25 Q4 FY25 Q1FY26 Q2FY26 Payments Revenue (1) 66 67 64 56 48 Payments Gateway (48 ) (49 ) (44 ) (37 ) (3 1) Costs (1) User Incentive costs (1)
Slide 15: Financial Services: Diversified Credit Offerings
Header Financial Services: Diversified Credit Offerings 14
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) Financial (3) 48.0% 10.1% 4.3% 13.3% 41.8% Services GM (%) (1) 9,501 Revenue 1,271 730 562 583 613 Gross
Slide 17: Financial Services: Net FS Margin Normalizes
Header Financial Services: Net FS Margin Normalizes - Jumps 3X in a Quarter Unit Economics of Financial Services (as a % of Digital Credit GMV) Particulars Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Revenue from Financial 10.36 % 7.82 % 8.25 % 8.41 % 7.59 % Services (1) Lending Related (4.07 ) % (9.31) % (7
Slide 18: Deepening User Engagement with Wealth Offerings
Header Deepening User Engagement with Wealth Offerings 17
Slide 19: Awards & Recognition
AWARDS & RECOGNITION 18
Slide 20: MobiKwik at Global Fintech Fest 2025
MobiKwik at Global Fintech Fest 2025: Powering Bharat’s Fintech Revolution Header • 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 21: Upasana Taku named Fintech Person of the Year - Female
Upasana Taku named “ Header Fintech Person of the Year - Female” at GFF 2025
Slide 22: Consolidated Financials
CONSOLIDATED FINANCIALS 21
Slide 23: Payments & Financial Services: Strong Profit Growth Across Both Verticals
Payments & Financial Services: Header Strong Profit Growth Across Both Business Verticals GMV (1) Revenue Direct Cost Gross Profit Revenue Streams G M (%) (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 1,53
Slide 24: Consistent QoQ Contribution Expansion, Driven By Cost Optimisation
Consistent QoQ Contribution Expansion, Driven By Cost Header Optimisation Total Income buildup (INR Mn) & CM (%) Fixed Cost (INR Mn) & Fixed Cost (%) Contribution Fixed 40 .2% 26 .6% 22 .8% 27 .5% 34.4% 37.8% 42 .1% 39.3% 38.6% 36 .7% Margin (CM) Cost (1) (1)(2) (%) (%) Total Income 2,936.7 2,744.7
Slide 25: Turning Momentum into Milestone: EBITDA Gain in Q2
Turning Momentum into Milestone: ₹24.8 Cr EBITDA Gain in Q2, Profits in Sight Header EBITDA (INR Mn) & EBITDA Margin (%) PAT (INR Mn) & PAT Margin (%) EBITDA (1) PAT (1) Margin 2 .3% (15 .5 )% (16 .4)% (11.1)% (2.3)% Margin (1.2)% (20.1)% (20.1)% (14.9)% (6.0)% (%) (%) 68 (36) - 63.76 (168) - 312 (4
Slide 26: 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 27: 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% 40% 34% 1,500 27% 27% 30% 23% 1,179 1,000 20% 961 730 774 500 10% 636 0% - Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 80% QoQ growth in EBITDA (₹24.8 Cr Swing) 68 (64) (312) (427) (458) Q2FY25
Slide 28: Quarterly KPIs
QUARTERLY KPIs 27
Slide 29: Payments – Quarterly Key Performance Indicators
Header Payments – Quarterly Key Performance Indicators (KPIs ) 28
Slide 30: Financial Services – Quarterly Key Performance Indicators
Header Financial Services – Quarterly Key Performance Indicators (KPIs ) 1) Financial Services Gross Margin (%) for Q2FY25 and Q3FY25 have been adjusted to reflect normalized operational performanc e a fter excluding the impact of an updated commercial agreement of the Company with one of its lendin
Slide 31: Consolidated
Header Consolidated 3) Merchant Incident related one - time Expense 30
Slide 32: Thank You
THANK YOU 31
Slide 33: Annexures
ANN EXURES , 32
Slide 34: Future Opportunities
FUTURE OPPORTUNITIES 33
Slide 35: Unlocking Future Value Through Growth Levers
Header Unlocking Future Value Through Growth Levers Offline Merchant Online Merchant Wealth Vertical New Sub - Categories AI - powered Acquisition Acquisition in Consumer Initiatives Payments • Scaling the Devices • RBI Licensed PA/PG • Building a strong Digital • FX Retail in partnership with • AI
Slide 36: Peer Comparison
PEER COMPARISON 35
Slide 37: Competitive Landscape: Peer Analysis
Header Competitive Landscape: Peer Analysis 105 84 Revenue (INR Bn) 76 77 23 26 15 18 17 16 17 18 12 13 12 11 6 8 6 9 Paytm Fino Payments Bank Zaggle Pine Labs MobiKwik FY23 FY24 FY25 FY26 (Annualized)* EBITDA (INR Mn) 1,914 2,344 2,347 1,361 706 1,141 613 475 297 372 - 559 - 794 - 9,070 - 15,070 -
Slide 38: Competitive Landscape: Higher Revenues per Unit of Capital Employed
Header Competitive Landscape: Generating Higher Revenues per unit of Capital Employed Capital Efficiency (Revenue/Capital Employed) 4.74 4.11 3.14 1.96 1.26 1.10 1.31 1.18 1.05 0.62 0.77 0.62 0.39 0.47 0.50 FY23 FY24 FY25 Paytm Fino Payments Bank Zaggle Pine Labs MobiKwik Price to Revenue Company FY
Slide 39: Disclaimer
Header Disclaimer 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