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L&T FINANCEInvestor Presentation Q3FY26 9 L&T Finance
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L&T FINANCE 2 Disclaimer L&T Finance Limited (formerly known as L&T Finance Holdings Limited) (the “Company”) offers a range of financial products and services under the L&T Finance (LTF) brand. The information provided in this presentation by the Company is for information purposes only. This presentation or any information herein shall not be used, reproduced, copied, photocopied, duplicated or otherwise reproduced in any form or by any means, or re-circulated, redistributed, passed on, published in any media, website or otherwise disseminated, to any other person, in any form or manner. This presentation does not constitute an offer or invitation or inducement to purchase or sell or subscribe to, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document to purchase or sell 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, 2018, the Securities and Exchange Board of India (Issue and Listing of Non-convertible Securities) Regulations, 2021 or any other applicable law, as amended from time to time. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. No representation, warranty, guarantee or undertaking, express or implied, is or will be made or any assurance given as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information, estimates, projections or opinions contained herein. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. The statements contained in this presentation speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. Neither the Company nor any of its affiliates, its board of directors, its management, advisers or representatives, or any other persons that may participate in any offering of securities of the Company, shall have any responsibility or liability whatsoever (in negligence or otherwise) for any loss (direct or indirect) howsoever arising from any use of this presentation or its contents or otherwise arising in connection with 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. Certain statements made in this presentation may be “forward looking statements” for purposes of laws and regulations of India and other than India. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition, general business plans and strategy, the industry in which the Company operates and the general, business, competitive and regulatory environment of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal, regulatory, environmental and social conditions in India, which the Company believes to be reasonable in light of its operating experience in recent years. 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. The distribution of this presentation in certain jurisdictions may be restricted by law and persons in whose possession this presentation comes should inform themselves about, and observe, any such restrictions. The financial figures, information, data and ratios (audited and unaudited) other than consolidated PAT, provided in this presentation are management representation based on internal financial information system of the Company. These financial figures are based on restatement of certain line items in the consolidated financial statements of the Company and describe the manner in which the management of the Company monitors the financial performance of the Company. There is a possibility that these financial results for the current and previous periods may require adjustments due to changes in financial reporting requirements arising from new standards, modifications to the existing standards, guidelines issued by the Ministry of Corporate Affairs and RBI. By accessing this presentation, you accept this disclaimer and that any claims arising out of or in connection with this presentation shall be governed by the laws of India and the courts in Mumbai, India shall have exclusive jurisdiction over the same. Disclaimer clause of RBI: The Company has a valid certificate of registration dated April 29, 2024 issued by the RBI under section 45 IA of the RBI Act (pursuant to the change in name from LTFH to LTF). However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the Company, or for the correctness of any of the statements or representations made or opinions expressed by the Company, and for repayment of deposits/ discharge of liabilities by the Company. 9 L&T Finance
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L&T FINANCE 3 Lakshya 2026 Goals Convergence At Consolidated Level
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L&T FINANCE 4 Lakshya was launched in April 2022. FY22 is the year before the launch of Lakshya strategy | #RoA before exceptional items is 2.37% Sustaining trajectory in line with Lakshya 2026 goals even during cycles RETAIL GROWTHRETAILISATION CONSOL ROA CONSOL ASSET QUALITY >25% CAGR>95% 2.8% - 3% GS3 3.19% NS3 0.92%98% 21% 2.31%# GS3 <3% NS3 <1% GS3 4.08% NS3 1.98%Q4: 51% Q4: 10% Q4: Q4: 1.33% | FY: 1.04% FY22 FY26 Q3 (At launch) FY26 CAGR (FY22 - FY25): 28% 9 L&T Finance
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L&T FINANCE 5 *Q3FY25, Q4FY25, Q1FY26 & Q2FY26 credit cost is after utilization of macro-prudential provision of ₹ 100 Cr, ₹ 300 Cr, ₹ 300 Cr & ₹ 150 Cr respectively in Rural Business Finance | #Exceptional item refers to one-time impact of New Labour Code; Q3FY26 RoA before this exceptional item is 2.37% RoA trajectory over Lakshya 2026 journey Endeavouring to drive consistency and predictability through cycles Maintained an average of ~2.59% credit cost over the past 16 quarters thereby displaying predictability across cycles Consolidated LTF Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Retailisation 51% 54% 58% 64% 75% 82% 88% 91% 94% 95% 96% 97% 97% 98% 98% 98% NIMs 6.58% 6.54% 6.90% 7.41% 7.63% 8.06% 8.62% 8.97% 9.14% 9.31% 8.94% 8.50% 8.15% 8.24% 8.42% 8.58% Fees 1.59% 1.69% 1.53% 1.39% 1.58% 1.58% 2.22% 1.95% 2.11% 1.77% 1.92% 1.83% 2.01% 1.98% 1.80% 1.83% NIMs + Fees 8.17% 8.23% 8.43% 8.80% 9.21% 9.64% 10.84% 10.93% 11.25% 11.08% 10.86% 10.33% 10.15% 10.22% 10.22% 10.41% Opex 2.93% 2.97% 3.19% 3.37% 3.58% 3.81% 4.29% 4.38% 4.69% 4.45% 4.17% 4.41% 4.22% 4.21% 4.05% 4.05% Credit cost (before macro util.) 3.00% 3.63% 2.54% 2.67% 2.24% 2.33% 2.58% 2.52% 2.39% 2.37% 2.59% 2.91% 3.80% 3.43% 2.98% 2.83% Credit cost (after macro util.) - - - - - - - - - - - 2.49%* 2.54%* 2.23%* 2.41%* - Opex + Credit cost 5.93% 6.60% 5.73% 6.04% 5.82% 6.14% 6.86% 6.89% 7.08% 6.83% 6.77% 6.90% 6.76% 6.43% 6.46% 6.87% RoA 1.33% 1.02% 1.55% 1.66% 1.90% 2.13% 2.42% 2.53% 2.19% 2.68% 2.60% 2.27% 2.22% 2.37% 2.41% 2.31%# PAT (₹ Cr) (before exceptional item) 342 262 406 454 501 531 595 640 666 686 696 626 636 701 735 760# PAT (₹ Cr) (after exceptional item) - - - - - - - - 554 - - - - - - 739# Retail Book (₹ Cr) 45,084 47,794 52,040 57,000 61,053 64,274 69,417 74,759 80,037 84,444 88,975 92,224 95,180 99,816 1,04,607 1,11,990 Consol Book (₹ Cr) 88,341 88,078 90,098 88,426 80,893 78,566 78,734 81,780 85,565 88,717 93,015 95,120 97,762 1,02,314 1,07,096 1,14,285 PCR 53% 55% 55% 60% 69% 71% 76% 75% 76% 75% 71% 71% 71% 71% 70% 72% NS3% 1.98% 1.87% 1.85% 1.72% 1.51% 1.19% 0.82% 0.81% 0.79% 0.79% 0.96% 0.97% 0.97% 0.99% 1.00% 0.92% CRAR 23% 23% 23% 23% 25% 26% 25% 25% 23% 22% 22% 22% 22% 21% 20% 19% 9 L&T Finance ,-------------------1 I ___________________ J
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L&T FINANCE Executive Summary Q3FY26 6
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L&T FINANCE 7 Executive Summary – Q3FY26 (1/4) Financial Performance Overview ❖ Retailisation at 98% of overall book ❖ Retail book stands at ₹ 1,11,990 Cr, growth of 21% YoY | Consolidated Book stands at ₹ 1,14,285 Cr ❖ Retail disbursements for Q3FY26 at ₹ 22,701 Cr vs. 15,210 Cr in Q3FY25, growth of 49% YoY • GST 2.0 & robust festive demand resulted in all-time high disbursements in Two-Wheeler Finance at ₹ 3,217 Cr & Farmer Finance at ₹ 2,783 Cr growing 33% YoY & 12% YoY respectively. Gold Finance disbursements at ₹ 1,408 Cr in Q3 • Personal Loans disbursements at ₹ 3,574 Cr with increased focus on Big Tech Partnerships • Rural Business Finance further improved disbursements to 47% YoY & 7% QoQ, at ₹ 6,740 Cr on the back of improved collection efficiency and positive sectoral trends 9 L&T Finance
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L&T FINANCE 8 Executive Summary – Q3FY26 (2/4) Financial Performance Overview ❖ NIMs+Fees for Q3FY26 improves considerably by 19 bps QoQ to 10.41% from 10.22% in Q2FY26; contributed by stable yields & cost of borrowings reduction due to Treasury efficiencies ❖ Opex for Q3FY26 includes one-time exceptional expenditure due to ramifications of the New Labour Code amounting to ₹ 29 Cr ❖ Nil utilization of macro-prudential provisions in Q3FY26 due to cessation of Rural Business Finance event risk ❖ Core credit cost in % (before macro) has been directionally reducing from 3.80% in Q4FY25 to 2.83% in Q3FY26. This includes a one-time impact of ₹ 23 Cr on account of prudential provisions on co-borrower exposures. Excluding this, the core credit cost is at 2.74%, a decrease of 24 bps on a QoQ basis & within our guided trajectory of continuous improvement Particulars Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Consol Book (₹ Cr) 93,015 95,120 97,762 1,02,314 1,07,096 1,14,285 Credit cost (₹ Cr) (before macro) 595 698 903 856 785 792 Macro prudential provision utilized (₹ Cr) - 100 300 300 150 - Core Credit cost % (before macro) 2.59% 2.91% 3.80% 3.43% 2.98% 2.83% Credit cost % (after macro) 2.59% 2.49% 2.54% 2.23% 2.41% 2.83% • • • • I • • I ------------ 9 L&T Finance • • ------· • • ------- 1 I ■
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L&T FINANCE 9 Executive Summary – Q3FY26 (3/4) Financial Performance Overview ❖ PAT before exceptional items for Q3FY26 at ₹ 760 Cr | RoA for Q3FY26 at 2.37% | RoE of 11.38% for Q3FY26 ❖ PAT after exceptional items for Q3FY26 at ₹ 739 Cr | RoA for Q3FY26 at 2.31% | RoE of 11.07% for Q3FY26 ❖ Exceptional items during the quarter comprises one-time impact due to ramifications of the New Labour Code amounting to ₹ 29 Cr Particulars Reported Q3FY26 Exceptional Item Q3FY26 One time impact of New Labour code Core Q3FY26 Opex ₹ 1,135 Cr | 4.05% 29 Cr | 10 bps ₹ 1,106 Cr | 3.95% PAT (₹ Cr) ₹ 739 Cr ₹ 21 Cr ₹ 760 Cr RoA 2.31% 6 bps 2.37% RoE 11.07% 31 bps 11.38% 9 L&T Finance
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L&T FINANCE 10 - 100% implemented Executive Summary – Q3FY26 (4/4) Strategic & Operational Initiatives ❖ Project Cyclops implementation status : ❖ Project Nostradamus – Proprietary AI portfolio management engine live in Beta mode for Two-Wheeler Finance ❖ Project Helios - Underwriting AI Co-Pilot live in SME Finance; Project Orion - Nostradamus Co-Pilot AI Conversational Assistant for automated portfolio live in Two Wheeler Finance from December 2025 ❖ RAISE 2025, L&T Finance’s flagship AI conference which was conducted in November 2025 saw widespread participation of 2,500+ delegates worldwide. On the sidelines of RAISE 2025, L&T Finance launched an AI startup pitch platform – Pitch Point thereby incubating new tech AI entrepreneur ecosystem Product Two- Wheeler Finance Farm Equipment Finance SME Finance Personal Loans Home Loans & LAP Rural Group Loans & MFI Gold Finance Project Cyclops – status (Jan-25) (Aug-25) (Sep-25) (Dec-25) FY27 FY27 - 9 L&T Finance '~ '~ '~ '~ '-........ '-........ '-.... .-1 '-........
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L&T FINANCE 11 *Exceptional items includes one-time impact of the New Labour Code of ₹ 29 Cr; PAT, RoA & RoE before exceptional items is ₹ 760 Cr, 2.37% & 11.38% Executive Summary – Q3FY26 Financial Performance ₹ 22,701 Cr +49% YoY | +20% QoQ RETAIL BOOK ₹ 1,11,990 Cr +21% YoY | +7% QoQ CONSOL NIMs+FEES 10.41% +8bps YoY | +19 bps QoQ CONSOL PAT ₹ 739 Cr* +18% YoY | +1% QoQ CONSOL ROA 2.31%* +4bps YoY | -10bps QoQ CONSOL ROE 11.07%* +86bps YoY | -26bps QoQ RETAIL DISBURSEMENT • I f ♦ I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I •: I • • I f ♦ I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I •: I • 9 L&T Finance
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L&T FINANCE 5 Pillar Strategy – An Update 12
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L&T FINANCE 13 5 Pillar strategy to deliver on Lakshya goals • Broadening customer funnel & velocity while increasing throughput • Harvesting the customer & increasing cross-sell, while keeping risk under control • Launching contiguous product offerings • Building a self-learning credit engine based on bureau, account aggregator & alternate data signals to make underwriting more robust • Optimizing digital journeys to eliminate chokepoints & provide a superlative experience to customers • In-house engineering for enhanced time to market • Enhancing brand presence across channels • Building salience & recall for brand ‘L&T Finance’ • Focused enhancement and optimization of talent pool in: o Artificial Intelligence / Machine Learning o Credit & Risk o Tech & Engineering Enhancing Customer Acquisition Sharpening Credit Underwriting Implementing Futuristic Digital Architecture Heightened Brand Visibility Capability Building 1 2 3 4 5 9 L&T Finance 0 0
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L&T FINANCE 14 Pillar 1: Enhancing Customer Acquisition New Customer Acquisition (no. in lacs) 5.8 Two Wheeler Finance Active sourcing points (nos.) 9,768 Rural Group Loans & MFI New villages activated (nos.) 19,975 New Customer Acquisition Expanding Reach Rural & Urban Customer Funnels Rural Funnel Urban Funnel Farm Equipment Finance Active sourcing points (nos.) 2,512 Personal Loans Active DSAs & E-aggregators (nos.) 49 Home Loan / LAP Active sourcing points (nos.) 389 Attracting new customers By increasing distribution footprint GST 2.0 along with favourable monsoon fuelled robust festive demand 5.9 8,515 28,229 2,590 58 321 6.9 8,708 27,146 2,843 56 336 Q3 FY25 Q2 FY26 Q3 FY26 Gold Finance Active branches (nos.) - 130 194 9 L&T Finance c: 0 u - I J_ J ____ _
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L&T FINANCE 15 Pillar 1: Enhancing Customer Acquisition Up-sell efforts continued in Rural Group Loans and MFI; to consolidate and expand the exclusive customer base Total Retail Repeat disbursement share (Count) Total Retail Repeat disbursement share (Value) Cross-sell & up-sell Personal Loans to existing customers % (Value) Rural Group Loans & MFI Repeat % (Value) Farm Equipment Finance Repeat % (Value) Leveraging ~2.8 Cr database ~1.8 Cr ~1.0 Cr RURAL URBAN Rural & Urban Customer Database Active customers – ~91 lac Rural Group Loans & MFI Repeat % (Count) 43% 32% 49% 69% 22% 56% 51% 40% 27% 81% 27% 68% 48% 40% 26% 83% 16% 71% Q3 FY25 Q2 FY26 Q3 FY26 M 9 L&T Finance 0 ~ ~ t I "" "" "" o d 0
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L&T FINANCE 16 NTC: New To Credit | ETC: Existing To Credit | Net Non Starters : Customers who bounced their 1st EMI Pillar 2: Sharpening Credit Underwriting (1/11) Successfully handling disparate data sources Improved transaction processing from 100 TPS to 1,400+ TPS Existing to Credit Banking Payment Transactions Asset / customer location Historic Performance Bureau Account Aggregator (AA) Trust Signals KYC Image / Video External Affluency Index Raw Data Pre-processed Data ML Model BRE ETC Salaried / Non-Salaried Trust scores Thin file / Thick file NTC KYC Image / Video • ETC + AA • ETC + Trust Signals • NTC + AA • NTC + Trust Signals • NTC + Micro Geography • Satellite data Micro Geography Operationalised ‘Project Cyclops’ in Two Wheeler, Farm Equipment Finance, SME Finance and Personal Loans NEXT-GEN OMNI-PRODUCT AND OMNI-CUSTOMER UNDERWRITING ENGINE SCORECARDS : TW - 17 | FARM - 24 | SME – 18 | PL - 13 Core engine running at Gen 3 leveraging Kubernetes-based architecture \ I \ J ,, __________ ,, -,, / ' ------ , \"· .......... ________________________________ ,,,/ I I I I I I I I I I I I I I ,' E 9 L&T Finance ,,.. ... ...... I ' : ' \ \. ,/ ............. _________ ,,.,,
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L&T FINANCE 17 Pillar 2: Sharpening Credit Underwriting (2/11) Rural Business Finance – Stringent Portfolio Policy & Sourcing Norms Strong credit guardrails implemented over the years continues to reflect enhanced portfolio resilience Rural Group Loans (JLG) & Micro Finance (JLG) E 9 L&T Finance 0 Applicant to be O DPD LTF only on boards if the customer is a O DPD JLG customer Strict Association Norms (continued even after regulatory relaxation in Apr'20) Maximum of 3 lenders including LTF (both for fresh and repeat customers) JLG Indebtedness Norms (continued even after regulatory relaxation in Apr'20) Total JLG Indebtedness for 3 lenders incl LTF restricted upto ~ 2 lacs Income estimation & total indebtedness norms (post Apr'22) Household income estimation and details of total indebtedness as obtained from credit bureau ................................................................................................................................................................................................................................................ . . t ...... 1.! .. ~~.~ .. ~?.~~~~.~.~.!.~~.~.~~.'.~ .. ~~.~~~.!Y. .. ~~~.?.! .. ~.: .. ~ .. ~.~~ .. ? .. ~~.~~~~.i.?.~~ .. ~~.~.~ .. ~~: .. 1.?.~~ .. ~.~~~!~.~~~~.~."!'..~!~ .. ~?.! .. ?.:.?.~~.~~.~~.~~ ...... l Maker-checker mechanism tor sourcing Independent unbiased assessment of borrower Maker Business Field Level Officer (part of Business Function) Checker Branch Process Manager (separate appraisal vertical) Ensures the following: • Estimation of standard of living & repayment capacity • KYC verification • On-ground sensing
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L&T FINANCE 18 Pillar 2: Sharpening Credit Underwriting (3/11) Rural Business Finance – Stringent Portfolio Policy & Sourcing Norms One customer has only one JLG loan from LTF at any point of time Strong Early Warning SignalsMonthly customer leverage tracker Exclusive Risk Control Unit Comprehensive customer leverage tracker dashboard deployed • Dashboard collates data of customer leverage with LTF and other peers • Customers categorized basis their overall leverage and repayment history • Provides 360o view of customer leverage & output matrix for LTF decisioning on customer retention and geo strategy Customer profiling to predict repayment behaviour and propensity to default • Paying LTF’s EMI but not paying external liabilities • Off-us customer profiling on monthly basis to monitor repayment behaviour • 700+ member strong team with pan India presence which acts as a strong line of defense for fraud prevention and control • Independent reporting to head of internal audit • Scope of work involves: o Sourcing audit o Disbursement audit o Collection audit Rural Group Loans (JLG) & Micro Finance (JLG) B 9 L&T Finance + +
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L&T FINANCE 19 Pillar 2: Sharpening Credit Underwriting (4/11) Rural Business Finance – Stringent Portfolio Policy & Sourcing Norms Implementation of MFIN guardrails leading to improving customer leverage profile across the industry LTF - Association wise customer composition at sourcing (% of disbursements) Association Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Only LTF 47% 48% 50% 48% 49% 53% 52% 53% 50% 53% LTF + 1 28% 28% 28% 32% 31% 30% 30% 30% 33% 32% LTF + 2 19% 19% 17% 19% 20% 17% 18% 17% 17% 15% LTF + 3 6% 5% 5% 1% 0% 0% 0% 0% 0% 0% Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% LTF only on-boards if the customer is a ‘0 DPD’ JLG customer Rural Group Loans (JLG) & Micro Finance (JLG) • • • • • • • • • • • • .. . .. .. .. . .. .. .. . .. •••••••••••• ••••••••••• •••••••••••• .. . .. .. .. . .. .. .. . .. .. .. . .. .. .. . .. .. .. . - •••••••••••• ••••••••••• ••••••••••• ••••••••••• •••••••••••• ■■■■■■■■■■■ , .................. ' ................... .. .. . .. .. .. . .. .. .. . • •••••••••• •••••••••••• • ••••••••••• ••••••••••• ••••••••••• ••••••••••• ■■■■■■■■■■■ ■■■■■■■■■■■■ ■■■■■■■■■■■■ E 9 L&T Finance ~ ................... .. .. .. . .. .. .. . .. .. .. , ................... ' .................... .. .................. " • • ~ " • ••••••••••• • •••••••••• II ■■■■■■■■■■■ •••••••••••• • •••••••••••• ••••••••••• •••••••••• ••••••••••• ••••••••••• • •••••••••• • lo II • ■■■■■■■■■■■ I ■■■■■■■■■■■ ~--■■■■■■■■■ •••••••••••• ■■■■■■■■■■■• ·
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L&T FINANCE 38% 26% 18% 10% 4% 1.7% 41% 27% 18% 8% 3.3% 1.2% 43% 28% 18% 7% 2.5% 0.9% 45% 29% 18% 6% 1.7% 0.5% 48% 30% 17% 4% 0.9% 0.3% 49% 30% 17% 3% 0.5% 0.1% 51% 31% 16% 2% 0.3% 0.1% 0% 10% 20% 30% 40% 50% LTF LTF + 1 LTF + 2 LTF + 3 LTF + 4 LTF + 5 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 20 CE – Collection Efficiency | LTF > 5 at 2.3% | 1.5% | 0.6% | nil | nil | 0.4% Pillar 2: Sharpening Credit Underwriting (5/11) Rural Business Finance – Stringent association norms leading to industry best association cohorts… Customer Association on Rural Group Loans & Microfinance loan book (%) LTF + >=3 sharply reduced from 17% to 2.5% in 6 quarters LTF exclusive, LTF+1 & LTF + 2 stands at 97.5% of book LTF’s Rural Group Loans & MFI (JLG) book reflects lower risk with optimum leverage 99.8% 99.7% 99.6% 99.0%Dec’25 CE Focused collection efforts leading to reduction of higher association portfolio +13% +5% Portfolio with lower number of associations reflects better CE Portfolio with higher number of associations also reflects reasonable CE 99.7% 99.5% 99.3% 98.2%Sep’25 CE B 9 L&T Finance 1111111 - - .l - _j_ ~------------------------------------------------------------- -
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L&T FINANCE 21 Pillar 2: Sharpening Credit Underwriting (6/11) …and a robust portfolio Superior credit performance vs. the industry is an outcome of proactive portfolio guardrails 100% 21% Industry LTF On Due Date (ODD) CE % vs Borrower Vintage Rural Group Loans (JLG) & Micro Finance (JLG) Focus on ODD CE leading to superior Regular CE Delinquency levels significantly better vs industry Responsible leveraging of customers across cycles Calculation methodology of Indexed representation Indexed representation of Industry Delinquency vs LTF Source: Industry data by Transunion CIBIL CE: Collection Efficiency Basis rolling 12-month sourcing cohorts (in ₹) 3-5 Yrs 5+ Yrs 1-3 Yrs <1 Yrs Delinquency is calculated as 12 Month On Book (MOB) ever 90+ performance in Oct’24- Sep’25 for last 12 mth disbursements over Oct’23- Sep’24 period ATS • If industry delinquency is X%, that is taken as the base on an index of 100% • LTF delinquency is shown as a percentage of this index, i.e. 21% of X 98.8% 98.8% 98.7% 98.7% 98.9% Dec24 Mar25 Jun25 Sep25 Dec25 - 20,000 40,000 60,000 80,000 100,000 Dec24 Mar25 Jun25 Sep25 Dec25 B 9 L&T Finance ----
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L&T FINANCE 22 Pillar 2: Sharpening Credit Underwriting (7/11) Leading to a robust portfolio LTF Farm portfolio quality improved through operational interventions Farm Equipment Finance Two Wheeler Finance LTV % & ATS Optimum LTV and margin levels (₹ in lacs) 100% 75% Industry LTF Delinquency levels significantly better than industry Optimum LTV and margin levels 100% 82% Industry LTF Delinquency levels better than industry Indexed representation of Industry Delinquency vs LTF Indexed representation of Industry Delinquency vs LTF Delinquency is calculated as 12 Month On Book (MOB) ever 90+ performance in Oct’24-Sep’25 for last 12 mth disbursements over Oct’23-Sep’24 period Basis rolling 12-month sourcing cohorts ATS LTV Source: Industry data by Transunion CIBIL 77% 76% 76% 77% 78% 107K 114K 113K 115K 114K 50 60 70 80 90 100 110 120 130 60% 62% 64% 66% 68% 70% 72% 74% 76% 78% 80% Dec24 Mar25 Jun25 Sep25 Dec25 72% 72% 71% 71% 71% 5.6 5.6 5.6 5.6 5.5 - 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 60% 62% 64% 66% 68% 70% 72% 74% Dec24 Mar25 Jun25 Sep25 Dec25 LTV % & ATS (in ₹) ATS LTV Prime dominant Project Cyclops portfolio is reflecting lower delinquency trends B 9 L&T Finance - -- -
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L&T FINANCE 23 Pillar 2: Sharpening Credit Underwriting (8/11) Journey towards building a Prime-dominant Two Wheeler portfolio 64% 63% 69% 87% 85% 87% Oct Nov Dec Q3FY25 Q3FY26 Prime share in disbursements 47% 48% 49% 69% 71% 72% Oct Nov Dec Q3FY25 Q3FY26 Prime share on book Focused efforts towards building a Prime book underwritten by Project Cyclops Two Wheeler Finance B 9 L&T Finance ■ ■ ■ ■
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L&T FINANCE 101% 102% 98% 94% 92% 88% 96% 95% 88% 91% 87% 85% 80% 74% 72% 69% 69% 68% 74% 67% 61% Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Base month March 2024 Indexed Bounce% 24 Bounce : Proportion of customers who bounce their EMI during the month Pillar 2: Sharpening Credit Underwriting (9/11) Journey towards quality sourcing - Two Wheeler Finance portfolio Prime sourcing and underwriting through Project Cyclops continues to sharply lower portfolio bounce outcomes 100% Two Wheeler Finance Indexed representation of TW Portfolio Bounce (%) Calculation methodology : Portfolio Bounce % in Mar’24 is taken as the base on an index of 100%; E.g. Bounce % in Dec’25 is 61% of bounce % of Mar’24 (base period) B 9 L&T Finance
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L&T FINANCE 25 NNS : Proportion of customers who bounced their 1st EMI Pillar 2: Sharpening Credit Underwriting (10/11) Journey towards quality sourcing – Farm Equipment Finance portfolio Better credit metrics reflected in reduction in NNS for tractor customers (sans seasonality) through the following initiatives: • Sharpened credit underwriting through identified dealership rationalization • Increase in penetration of digital payments from 32% in Apr’23 to 67% in Dec’25 100% Indexed representation of Farm Net Non Starters (NNS) % 159% 135% 99% 85% 75% 64% 58% 43% 39% 45% 55% 38% 75% 50% 38% 43% 40% 35% 60% 34% 30% Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Base month Mar2024 Indexed NNS% Calculation methodology : NNS % in Mar’24 is taken as the base on an index of 100%; E.g. NNS % in Dec’25 is 30% of NNS % of Mar’24 (base period) Farm Equipment Finance B 9 L&T Finance
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L&T FINANCE 26 Pillar 2: Sharpening Credit Underwriting (11/11) Leading to a robust portfolio Focus on maintaining prime and super prime secured portfolio performance Optimum LTV and margin levels Home Loans 100% 12% Industry LTF Indexed representation of Industry Delinquency vs LTF Delinquency levels better than industry 100% 7% Industry LTF Indexed representation of Industry Delinquency vs LTF LAP Delinquency is calculated as 12 Month On Book (MOB) ever 90+ performance in Oct’24-Sep’25 for last 12 mth disbursements over Oct’23-Sep’24 period Basis rolling 12-month sourcing cohorts 63% 62% 62% 63% 61% 74 73 76 71 78 - 10 20 30 40 50 60 70 80 90 0% 20% 40% 60% 80% 100% 120% Dec24 Mar25 Jun25 Sep25 Dec25 59% 59% 59% 59% 60% 83 81 84 85 91 - 10 20 30 40 50 60 70 80 90 100 0% 20% 40% 60% 80% 100% 120% Dec24 Mar25 Jun25 Sep25 Dec25 Source: Industry data by Transunion CIBIL ATS & LTV % (₹ in lacs) ATS & LTV % (₹ in lacs) ATS LTV ATS LTV B 9 L&T Finance - -- -
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L&T FINANCE 27 Pillar 3: Implementing Futuristic Digital Architecture Engineering for tomorrow – Future Tech Landscape | Ongoing Tech initiatives, continue to be on track Established Machine Learning operations department Fully established data science library with >7 alternate data channels with 100+ scorecards Continuing to build Tech infrastructure to drive variety, volume, velocity and veracity I I I I , , Open API & M icroservice based architecture I I , , , ~• Ql me ~ ~ c· ~ Cl) . -0 --, iii"~ e (") - Cl) -C/) --. 1 ~ (') ._ ~ I C a ~ 3: )> m . :;;u . z C -I ~ m r )> r C) :;;u m m ,, z 0 (') ~ m a :;;u -. -< ~ .-1 ,+-t ' ' ' ' ' • i~e ru '7''""' t• •a.\, ' : 111 l';".- __. , (/) () 0 "Tl ~ (") Ql r CD ~ )> (/) al Cl) () --0- -0 0 ::J C/) ~ -0 Cl) (") ~ Cl) ::J (/) ::r ,-+ )> 0. ro Ql CUSTOM ER Consent & Verification Bureau , AA, Customer )> n Trust Signals Intelligence .c C iii' ;:;: o· :::, L Credit r- Project Cl) Cyclops Intelligence ~ --►. .., · r m l> :;;u Product Technology z z Stack C) r ~ m ~ ~ :;;u Portfolio Nostradamus Intelligence -c -i- J~ Service PLANET Intelligence Unified Customer Experience "'ti __., 0 • ~ o· r- Cl) '< ti) .., J .,,. ,,,. ,,,.~ , , , I I I .... ____________ _ Information Security m ED ~ ...... :,, s· ~ @
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L&T FINANCE 28 EDW : Enterprise Data Warehouse Pillar 3: Implementing Futuristic Digital Architecture Project Nostradamus beta launched in Aug’25 ahead of earlier announced schedule Model Orchestration Consent Layer EDW Nostradamus Mart Debt Capacity, Micro & Macro Models Collection Models + Action Recommendation Future Models (Cross Sell, Stress) Nostradamus Models Qlik Dashboard EDX Modelling Customer Level Models (EWS, Banking Stability, Location Stability) Internal Data sources EDW Data Lake Collections App Call Centre Consumption Layer External Data Sources External Bureau Data Job Dashboard EDX (Exchange Data Server) Project Nostradamus Beta live in Two-wheeler Finance I I I I I I I I •-------► 11
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L&T FINANCE 29 Pillar 4: Heightened Brand Visibility Improving and projecting LTF’s tech quotient through RAISE’25 L&T Finance’s flagship AI conclave - RAISE 2025 brings together global tech leaders, policymakers, innovators, and industry practitioners 6,000+ Attendees | 50+ Speakers | 15+ Demos | 5+ Masterclasses 4,500+ Attendees 40+ Speakers 15+ Demos 5+ Masterclasses ■ 9 L&T Finance
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L&T FINANCE 30 Pillar 5: Capability Building & Employee Initiatives Building capabilities in new businesses Sampoorna Branch Launched the 1st multi-product Sampoorna Branch in Ujjain B 9 L&T Finance
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L&T FINANCE Business Update 31
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L&T FINANCE 32 Retail disbursement increased by 49% on YoY basis All-time high disbursements on the back of GST 2.0 and festive demand ₹ in Cr +49% 15,210 18,883 22,701 Q3FY25 Q2FY26 Q3FY26 RETAIL FINANCE +47% 4,599 6,316 6,740 Q3FY25 Q2FY26 Q3FY26 +12% 2,495 1,654 2,783 Q3FY25 Q2FY26 Q3FY26 +48% 6,531 8,143 9,671 Q3FY25 Q2FY26 Q3FY26 +24% 1,249 1,468 1,550 Q3FY25 Q2FY26 Q3FY26 +20% +7% +68% +19% +6% Rural Business Finance Farmer Finance Urban Finance SME Finance - - 983 1,408 Q3FY25 Q2FY26 Q3FY26 +43% Gold Finance ·--------------, ' ' y f:\ ' ' · ----.1 ► --------------· ' ' ' ---------. y ---------. y ---------------' ' ' - - --------- I ' ' '.I f:\ ' ' ' '.I - 9 L&T Finance - ' ' ' '.I 1111 f:\ --'
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L&T FINANCE 33 Retail book growth of 21% YoY Robust book growth across all lines of business in a festive quarter thereby signalling improving rural & urban demand ₹ in Cr +21% 92,224 104,607 111,990 Q3FY25 Q2FY26 Q3FY26 RETAIL FINANCE +10% 26,231 27,460 28,976 Q3FY25 Q2FY26 Q3FY26 +11% 15,075 15,943 16,671 Q3FY25 Q2FY26 Q3FY26 +26% 43,957 51,298 55,405 Q3FY25 Q2FY26 Q3FY26 5,817 7,465 7,946 Q3FY25 Q2FY26 Q3FY26 +7% +37% +6% +5% +8% +6% Rural Business Finance Farmer Finance Urban Finance SME Finance 1,475 1,738 Q3FY25 Q2FY26 Q3FY26 +18% Gold Finance - . ------------- --. ' ' y 11' ' ' · ----.J ► --------------· ' ' ' --------------· ' ' ' ---------. y 11' ---------. y ---------, ' ' 'V 9 L&T Finance - ' ' ' 'V - 11' __ ,
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L&T FINANCE 34 Collection Efficiency (1/3) 0 DPD CE = POS of 0 DPD collected / POS of 0 DPD billed 0-90 DPD CE = POS of 0-90 DPD collected / POS of 0-90 DPD billed RURAL BUSINESS FINANCE RURAL BUSINESS FINANCE RURAL GROUP LOANS & MICRO FINANCE (JLG) RURAL GROUP LOANS & MICRO FINANCE (JLG) 97.5% 97.5% 97.8% 97.9% 98.0% 98.2% 98.3% 98.5% 98.7% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 0 DPD CE % 0-90 DPD CE % RURAL 99.3% 99.4% 99.4% 99.5% 99.5% 99.5% 99.6% 99.6% 99.7% 99.7% 99.7% 99.6% 99.5% 99.5% 99.4% 99.3% 99.3% 99.4% 99.4% 99.0% 99.4% 90.00% 92.00% 94.00% 96.00% 98.00% 100.00% 102.00% 104.00% 95.00% 95.50% 96.00% 96.50% 97.00% 97.50% 98.00% 98.50% 99.00% 99.50% 100.00% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 99.2% 99.2% 99.0% 98.7% 98.5% 98.3% 98.1% 97.9% 97.9% 97.9% 97.6% 97.6% Normalisation in Rural Business Finance Collection Efficiency 9 L&T Finance • • • • • • • • • • • • • • • • • • • • • G • • • • • • • • • • • • • • • • • • • • •
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L&T FINANCE 88.4% 91.1% 91.8% 90.7% 90.8% 91.5% 88.9% 90.3% 92.8% 92.4% 91.6% 93.0% 35 Regular CE = cashflow received from 0 DPD customer for billing / billing of 0 DPD customer | DPD: Days Past Due Collection Efficiency (2/3) Robust collection efficiencies leading to credit quality improvement even before Project Cyclops dividend RURAL FARMER FINANCE FARM EQUIPMENT FINANCE 89.8% 92.2% 93.0% 92.4% 91.4% 92.1% 89.8% 91.5% 94.0% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 9 L&T Finance G • • • • ... .. • • • • • • • • • • • • • .. •
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L&T FINANCE 36 Regular CE = cashflow received from 0 DPD customer for billing / billing of 0 DPD customer | DPD: Days Past Due Collection Efficiency (3/3) Stable collection efficiencies on account of Project Cyclops implementation (Two-Wheeler) & portfolio interventions URBAN FINANCE SME FINANCE TWO WHEELER FINANCE PERSONAL LOANS HOME LOANS & LAP 9 L&T Finance 0 FY25 ...,_ FY26 FY25 ...,_ FY26 198.3%1 198.5% 1 198.7% 1 198.7% 1 198.7% 1 198.7%1 198.8% 1 199.o¾ I 198.4% 1 198.8%1 198.8% 1 199.2% 1 199.o¾ I 199.o¾ 1 199.o¾ I 199.o¾ I 199.3% 1 .. • ... I • • • I I I I I I • I 97.4% ... 198.5% 1 198.6% 1 198.o¾ I 197.8% 1 198.o¾ 1 198.1% 1 198.1%1 198.1%1 198.1% 1 I 98.4% I I 98.4% I 198.5% 1 198.3% 1 198.4% 1 198.7%1 198.8% 1 198.4%1 198.6% 1 198.8% 1 197.1%1 197.6%1 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar ...,_ FY25 ...,_ FY26 FY25 ...,_ FY26 199.7%1 [991B 199.8% 1 199.8% 1 199.8%~ 199.8% 1 199.8% 1 199.3%1 199.4% 1 199.5% 1 199.5% 1 199.6% 1 199.5% 1 199.5% 1 I 99.4% I 199.6% 1 I • e-._ 99.7 1/o • • I I ~ .. 99.6% __. I • • .. • 199.7% 1 199.7% 1 199.8% 1 199.7% 1 199.8% 1 199.8% 1 199.8% 1 199.5%1 199.6% 1 199.6% 1 199.7% 1 199.7%1 199.5% 1 199.5% 1 199.5% 1 199.6% 1 199.6%1 199.4% 1 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
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L&T FINANCE 37 Industry figures are as per CRIF Highmark data | DPD: Days Past Due | PAR: Portfolio at Risk Retail Asset Quality (1/4) Improving asset quality trends – Rural Group Loans & MFI • Overall 0 DPD CE monthly has improved steadily from 99.35% in Jun’25 to 99.50% (Sep’25), 99.57% (Oct’25), 99.62% (Nov’25) & 99.70% (Dec’25) • Karnataka 0 DPD CE monthly improved substantially from 96.31% in Feb’25 (lowest) to 99.56% in Dec’25 • Collection Efficiency in other states are trending as expected • PAR trends are exhibiting reduction in all buckets on a QoQ basis indicating a stabilizing credit environment Best-in-class 0 DPD portfolio and PAR trends vis-à-vis the Industry 87.2% 86.8% 83.5%Industry 87.4% 86.9% 96.8% 97.1% 97.0% 95.8%LTF 96.8% 96.4% 80.2% 0 DPD book 94.9% 78.9% LTF PAR Trends Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 PAR 1-30 0.0% 0.1% 0.1% 0.3% 0.6% 1.0% 1.1% 1.1% 0.9% 0.6% PAR 31-60 0.1% 0.2% 0.2% 0.3% 0.5% 0.6% 0.9% 0.6% 0.5% 0.4% PAR 61-90 0.1% 0.1% 0.2% 0.2% 0.4% 0.6% 0.5% 0.6% 0.5% 0.4% PAR 90+ 3.0% 2.5% 2.5% 2.4% 2.1% 2.1% 2.6% 2.6% 2.6% 2.7% 95.1% 77.0% 95.5% 75.2% 95.9% - 9 L&T Finance • • •
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L&T FINANCE 38 Industry figures are for the immediately preceding quarter reported as per CRIF Highmark data | DPD: Days Past Due Retail Asset Quality (2/4) ‘0 DPD’ for our 3 fulcrum products Best-in-class 0 DPD portfolio of LTF vis-à-vis the Industry FARM EQUIPMENT FINANCE TWO WHEELER FINANCE 81.2% 87.2% Industry LTF 79.0% 89.8% Industry LTF 75.2% 95.9% Industry LTF RURAL GROUP LOANS & MICRO FINANCE (JLG) I I I I I I I I I L----------------------------------- 0 9 L&T Finance L---------------------------------- I
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L&T FINANCE 39 *Stage 2 provisions include Macroprudential provisions; Stage wise book and corresponding provisions are based on customer dpd Retail Asset Quality (3/4) Stagewise assets & provision summary Stage wise (in ₹ Cr) Q3FY25 Q3FY25 (% of Total) Q2FY26 Q2FY26 (% of Total) Q3FY26 Q3FY26 (% of Total) Stage 1 87,325 94.69% 99,258 94.89% 1,06,677 95.26% Stage 2 2,273 2.46% 2,296 2.20% 2,138 1.91% Stage 3 2,627 2.85% 3,053 2.92% 3,175 2.83% Total 92,224 100% 1,04,607 100% 1,11,990 100% G R O S S A S S E T S Stage wise (in ₹ Cr) Q3FY25 Q3FY25 (% PCR) Q2FY26 Q2FY26 (% PCR) Q3FY26 Q3FY26 (% PCR) Stage 1 492 0.56% 537 0.54% 556 0.52% Stage 2* 1,266 55.73% 519 22.58% 497 23.23% Stage 3 1,898 72.26% 2,183 71.51% 2,328 73.31% Total 3,657 3.97% 3,238 3.10% 3,380 3.02% P R O V I S I O N Stage wise (in ₹ Cr) Q3FY25 Q3FY25 (% of Net Assets) Q2FY26 Q2FY26 (% of Net Assets) Q3FY26 Q3FY26 (% of Net Assets) Stage 1 86,833 94.66% 98,721 94.86% 106,121 95.23% Stage 2 1,006 1.11% 1,778 1.71% 1,641 1.47% Stage 3 729 0.81% 870 0.85% 847 0.77% N E T A S S E T S
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L&T FINANCE 40 Asset Quality numbers are based on Exposure at Default (EAD) Retail and Consol Asset Quality (4/4) Retail and Consol GS3 Maintained steady Consolidated GS3 and NS3 2,627 3,053 3,175 729 870 847 2.85% 2.92% 2.83% 0.81% 0.85% 0.77% -1% 1% 3% 5% 7% 9% 11% 13% 0501001502002503003504004505005506006507007508008509009501,0001,0501,1001,1501,2001,2501,3001,3501,4001,4501,5001,5501,6001,6501,7001,7501,8001,8501,9001,9502,0002,0502,1002,1502,2002,2502,3002,3502,4002,4502,5002,5502,6002,6502,7002,7502,8002,8502,9002,9503,0003,0503,1003,1503,2003,2503,3003,3503,4003,4503,5003,5503,6003,6503,7003,7503,8003,8503,9003,9504,0004,0504,1004,1504,2004,2504,3004,3504,4004,4504,5004,5504,6004,6504,7004,7504,8004,8504,9004,9505,000 Q3FY25 Q2FY26 Q3FY26 RETAIL - ASSET QUALITY 73%72% 72% 3,075 3,521 3,650 905 1,046 1,024 3.23% 3.29% 3.19% 0.97% 1.00% 0.92% 0% 3% 6% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 Q3FY25 Q2FY26 Q3FY26 GS3 (%)NS3 (₹ Cr)GS3 (₹ Cr) NS3 (%) PCR (%) 71% 70% 72% CONSOLIDATED – ASSET QUALITY 9 L&T Finance - - -
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L&T FINANCE 41 Proactive Asset Liability Management Diversified liability mix has enabled to achieve lowest-ever Quarterly WACB at 7.25% in Q3FY26, reduction of 7 bps (QoQ) CAPITALISING IN TIMES OF FALLING INTEREST RATE ENVIRONMENT ‘AAA’ rating CRISIL, ICRA, CARE, India Ratings Prudent ALM along with changing portfolio mix towards retail Leveraged Retail Asset profile to garner competitive funding DIVERSIFIED LIABILITY MIX (%) WEIGHTED AVERAGE COST OF BORROWING (WACB) (%) O/s Borrowings 7.81% 7.82% 7.85% 7.80% 7.83% 7.84% 7.68% 7.32% 7.25% Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Dec-24 Dec-25 ₹ 1,02,551 Cr ₹ 86,161 Cr Bank Loan - Non-PSL Bank Loan - PSL FI Loan NCD Private Retail NCD CP ECB Others 7.50% 7.46% 7.80% 7.83% FY22 FY23 FY24 FY25 28% 26% 3% 28% 1% 7% 5% 2% 23% 26% 5% 26% 1% 8% 8% 3% 9 L&T Finance ■ ■ ■ ■ ■ ■ ■ - ~ _[ __ J e _[ __ J a _[ __ J
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ANNEXURES 42 9 L&T Finance
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L&T FINANCE 43 Index of Annexures Dominant Retail Franchise built over a decadeI Financials Other Annexures II III 9 L&T Finance
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L&T FINANCE 44 L&T Finance Pedigree & Position Part of illustrious L&T group Upper Layer NBFC as per RBI classification Amongst Top Retail NBFCs Highest Credit Rating – ‘AAA’ Top Notch ESG Ratings Top 10 Retail NBFCs Built on the foundation of Trust & Commitment , , - !.~ 'I? {fi)L&TFinan "o 9 L&T Finance
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L&T FINANCE 45 Retail Businesses Q1 FY24 41% 59% Portfolio Mix URBANRURAL Home Loans & LAP SME Loans to Professionals & Traders (incl. supply chain) Two Wheeler Finance Personal Loans Rural Group Loans & Micro Finance (JLG) Farm Equipment Finance Micro LAP Agri Allied Finance Rural Business Finance Farmer Finance Urban Finance SME Finance Gold Loans Gold Finance 9 L&T Finance
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L&T FINANCE 46 Retail Franchise & Right to Win Q1 FY24 41% 59%Portfolio Mix URBANRURAL ₹ 1,11,990 Cr Retail Book DIVERSIFIED RETAIL NBFC Two Wheeler Finance Rural Group Loans & Micro Finance (JLG) Farm Equipment Finance Pan-India presence ~2,00,000 Villages 400+ Cities / Towns Leveraging ~2.8 Cr customer franchise for cross sell ~14,000 Distribution touch points Optimised Digital Service & Distribution delivery platform 2.2 Cr+ downloads Amongst the Leading Financiers in 3 fulcrum products Retail Digital Franchise built over 15 years 9 l&T Finance 0
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L&T FINANCE 47 Pincode wise location mapping Granular and extensive distribution network State Rural Branches Urban Branches Madhya Pradesh 86 51 Maharashtra 98 30 Uttar Pradesh 170 23 Gujarat 104 41 Karnataka 248 21 West Bengal 124 21 Andhra Pradesh 86 12 Telangana 70 14 Haryana 40 50 Rajasthan 67 18 Bihar 423 9 Punjab 45 54 Odisha 126 14 Tamil Nadu 419 7 Kerala 95 3 Others 56 62 Pan India 2,257* 430 LTF Rural Network 18 States ~2,00,000 Villages LTF Urban Network 400+ Cities / Towns 4 UT 22 States Total Branch Count: 549 (Rural – 119, Urban – 430) *Rural Branches includes RGL & MFI meeting centres (2,138), MLAP branches (110) & dedicated Farmer Finance branches (9) | *Urban Branches includes dedicated Gold Finance branches (233) & other shared branches (197) 9 L&T Finance I I I
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L&T FINANCE 48 Market dominance through fulcrum product built over a decade (1/3) Rural Group Loans and Micro Finance (JLG) - amongst the Leading Financiers Operational excellence • Automated underwriting; geo- strategy based on women credit penetration • Collection-led disbursement • State of the art Risk Control Unit; Compulsory bureau check Well diversified footprint • 17 states across 370+ districts, 2,100+ Meeting Centre Branches • Key states: Bihar, Tamil Nadu & Karnataka Customer Centricity • LTF exclusive customers at ~40% • Retention products – 70% retention • Optimum customer leverage Excellent Asset Quality • No additional top-up loans for delinquent customers • 100% PCR on 90+ bucket • Macro-prudential provisions Created strong risk guardrails • Financier association limit – maximum 3 • Continued exposure checks & FOIR norms • Pincode selection basis PAR & customer leverage 916 2,234 3,551 7,819 12,476 12,495 12,207 13,278 18,693 24,716 26,320 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 40% 1,178 2,536 3,514 7,214 10,903 9,884 6,613 9,950 16,910 21,495 20,921 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 33% 17+ years of Vintage 1.6 Cr+ customers serviced in rural India B O O K D I S B U R S A L Rural Group Loans & Micro Finance (JLG) ₹ in Cr 9 L&T Finance -
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L&T FINANCE 49 Market dominance through fulcrum product built over a decade (2/3) Farm Equipment Finance – amongst the Leading Financiers • 175+ branches across 16 states & 1 UT • Key states: Uttar Pradesh, Madhya Pradesh, Telangana, Karnataka • Retention products (Kisan Suvidha) • Paperless Digital Journey • Best-in-class TAT: 24 hours • Collection led disbursements; CE @ 94.0% • Analytics-based scorecard for decision-making • Water reservoir levels, Rainfall distribution, State fiscal position • Farm cash cycle, MSP, sowing pattern • Tractor model / HP & other asset variables Operational excellence Created strong risk guardrails Well diversified footprint Customer Centricity • 2,500+ Dealers • Non-captive distribution franchise • Well penetrated across Top 5 OEMs Dealer / OEM Relationship B O O K D I S B U R S A L 21+ years of Vintage 13 Lac+ customers serviced in rural India Farm Equipment Finance 4,739 4,649 4,379 5,811 7,362 8,438 10,261 11,317 12,819 13,892 15,219 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 12% 2,532 1,792 1,570 3,249 3,864 3,821 4,477 5,152 6,450 6,848 7,935 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 12% ₹ in Cr 9 L&T Finance I I I I I I I I I I I I I I I I I I I I I I I _______ .... _; _ •.•. 1.1.1.1.1.1.1.1
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L&T FINANCE 50 Market dominance through fulcrum product built over a decade (3/3) Two Wheeler Finance - amongst the Leading Financiers • 8,500+ Sourcing points • Non-captive distribution franchise • Analytics driven OEM cum Dealer business model • Channel level engagement model • 160+ branches across India • Key states: West Bengal, Tamil Nadu, Gujarat • Straddle continuum from New To Credit to Prime customers • Paperless Digital Journey • Sabse Khaas Loan & Income Proof loans - 1st in Industry • Collection led disbursements; CE @ 99.0% • Straight through processing • Underwriting through Project Cyclops, next-gen 3 dimensional engine • Customer profiling using lookalikes • OEM model variables • Pincode selection basis multivariate analysis • Dealership performance Customer Centricity Dealer / OEM Relationship Well diversified footprint Operational excellence Created strong risk guardrailsB O O K D I S B U R S A L 1,436 1,761 2,110 3,414 5,739 6,575 7,122 7,462 8,960 11,205 12,321 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 24% 1,307 1,595 1,753 2,978 4,968 4,901 4,436 5,084 7,110 8,586 9,285 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 CAGR 22% 11+ years of Vintage 85 Lac+ customers serviced in urban India Two Wheeler Finance ₹ in Cr 9 L&T Finance - =------------------
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L&T FINANCE 51 Index of Annexures Dominant Retail Franchise built over a decadeI Financials Other Annexures II III 9 L&T Finance
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L&T FINANCE 52 Lending Business – Business wise disbursement split Q3FY25 Particulars (₹ Cr ) Q2FY26 Q3FY26 Y-o-Y (%) Farmer Finance 2,495 Farm Equipment Finance 1,654 2,783 12% 4,599 Rural Business Finance 6,316 6,740 47% 4,321 Rural Group Loans (100% JLG) 5,989 6,347 47% 137 Micro Finance (100% JLG) 132 110 - 141 Micro LAP 196 282 - 6,531 Urban Finance 8,143 9,671 48% 2,414 Two Wheeler Finance 2,512 3,217 33% 1,642 Personal Loans 2,918 3,574 118% 1,789 Home Loans 1,802 1,933 8% 686 LAP 912 947 38% 1,249 SME Finance 1,468 1,550 24% - Gold Finance 983 1,408 - 336 Acquired Portfolio 319 550 64% 15,210 Retail Finance 18,883 22,701 49% - Infrastructure Finance 13 - - - Real Estate Finance - - - - Wholesale Finance 13 - - 15,210 Total Disbursement 18,896 22,701 49% Disbursement
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L&T FINANCE 53 Lending Business – Business wise book split Q3FY25 Particulars (₹ Cr ) Q2FY26 Q3FY26 Y-o-Y (%) Farmer Finance 15,075 Farm Equipment Finance 15,943 16,671 11% 26,231 Rural Business Finance 27,460 28,976 10% 25,915 Rural Group Loans & Micro Finance Loans (100% JLG) 26,617 27,874 8% 316 Micro LAP 843 1,103 - 43,957 Urban Finance 51,298 55,405 26% 12,676 Two Wheeler Finance 13,013 13,913 10% 7,820 Personal Loans 10,878 12,810 64% 18,202 Home Loans 20,626 21,321 17% 5,259 LAP 6,781 7,361 40% 5,817 SME Finance 7,465 7,946 37% - Gold Finance 1,475 1,738 - 1,144 Acquired Portfolio 966 1,253 10% 92,224 Retail Finance 104,607 111,990 21% 1,683 Infrastructure Finance 1,314 1,296 (23%) 1,214 Real Estate Finance 1,175 999 (18%) 2,897 Wholesale Finance 2,489 2,295 (21%) 95,120 Total Book 1,07,096 1,14,285 20% Book
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L&T FINANCE 54 *Exceptional items includes one-time impact of the New Labour Code of ₹ 29 Cr LTF Consolidated – Summary financial performance Q3FY25 Particulars (₹ Cr ) Q2FY26 Q3FY26 Y-o-Y (%) 3,610 Interest Income 3,852 4,110 14% 1,569 Interest Expense 1,634 1,703 9% 2,041 NIM 2,218 2,407 18% 439 Fee & Other Income 474 513 17% 2,480 Total Income 2,692 2,920 18% 1,058 Operating Expense 1,068 1,135 7% 1,423 Earnings before credit cost 1,623 1,785 25% 698 Credit Cost [-] (Before utilizing Macro-prudential provisions) 785 792 14% (100) Macro-prudential provisions utilized [+] (150) - (100%) 598 Credit Cost (After utilizing Macro-prudential provisions) 635 792 32% 825 PBT 989 993 20% 626 PAT (after exceptional items) 735 739* 18% 626 PAT (before exceptional items) 735 760 21% Performance Summary 9 L&T Finance
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L&T FINANCE 55 LTF Consolidated – Summary financial performance Q3FY25 Particulars (₹ Cr ) Q2FY26 Q3FY26 Y-o-Y (%) 95,120 Closing Book 107,096 114,285 20% 95,227 Average Book 104,527 111,262 17% 24,910 Networth 26,358 27,108 9% 99.9 Book Value per share (₹) 105.4 108.3 9% 2.5 Basic Earning per share (₹) 2.9 2.9 17% Performance Summary
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L&T FINANCE 56 *Exceptional items includes one-time impact of the New Labour Code of ₹ 29 Cr LTF Consolidated – Key ratios Particulars Tier I Tier II CRAR Consolidated CRAR ratio 18.43% 0.67% 19.10% Q3FY25 Key Ratios Q2FY26 Q3FY26 15.04% Yield 14.62% 14.66% 8.50% Net Interest Margin 8.42% 8.58% 1.83% Fee & Other Income 1.80% 1.83% 10.33% NIM + Fee & Other Income 10.22% 10.41% 4.41% Operating Expenses 4.05% 4.05% 5.93% Earnings before credit cost 6.16% 6.37% 2.91% Credit Cost (Before utilizing Macro-prudential provisions) 2.98% 2.83% 2.49% Credit Cost (After utilizing Macro-prudential provisions) 2.41% 2.83% 2.27% Return on Assets (after exceptional items) 2.41% 2.31%* 3.46 Debt / Equity (Closing) 3.71 3.78 3.38 Debt / Equity (Average) 3.59 3.67 10.21% Return on Equity (after exceptional items) 11.33% 11.07% 2.27% Return on Assets (before exceptional items) 2.41% 2.37%* 10.21% Return on Equity (before exceptional items) 11.33% 11.38%* Key Ratios
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L&T FINANCE 57 Index of Annexures Dominant Retail Franchise built over a decadeI Financials Other Annexures II III Asset Liability Management & Credit Ratings PLANET and Digital Update Sustainability (ESG & CSR) Board and Senior Management 9 L&T Finance
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L&T FINANCE 58 App as a powerful digital channel for customer (1/3) PLANET App Features Servicing channel enroute to becoming a geo-agnostic sourcing channel ‘PLANET’ APP FEATURES (Launched in March 2022) View Loan Details & update Profile Download SOA & Repayment Schedule Download NOC & Foreclosure report Download Interest Certificate Download Welcome Kit Auction Portal Multi Bureau Credit Score Update Mandate Details Servicing features Engagement features D2C journeys EMI calculator Make Foreclosure & Part Payments Personal Loans 2W Loans Farm Equipment (Top up) & Agri- allied Home Loan & LAP (OD) SME Rural Group Loans & Micro Finance ITR filing TW Marketplace Farm Marketplace ‘Partner PLANET’ APP FEATURES (Launched in Oct 2025) One step TA withdrawal Real Time retail dashboard Personalized dashboard Comprehensive Trade advance details Download SOA Complete portfolio summary RC Pendency status Building a smarter Dealer ecosystem ~- ------------- L----------------------------------- HSlo, RajneeshMathurl My Loans ui1 Home loan Explore Loans • G:t ~ H=• Personal '°'" '°'" 0~ ,--- 0 s 4i e--------; '27,778 Fa Busines.s i ~ lwowheeler a '°'" - ~----------------------------------- I~ \..,.,. I~ \..,_. ,, I I I I I I I I Iii L----------------- [_ DJ) Le ----- ------ -SHIV CHIDAMBARAM TRACTORS PVT LTD EJ!clus1ve Festive Oehghls' --Withdrawal near to maturity date Tranch 1D: FT0137W1120092~ O.al ID: T001l9Ui Business Performance voium1 e u",t Achievement Summary 1.10cr @ 4.24 cr fY·MT.-i;,et ,,,.,. 3 1.4 % View Details » 0.-...+fnl in C,,mm :on , ~ (]) Homo TA Reuul Annu, lly V .. ,o oo oD 9 L&T Finance □ ~ □ D I
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L&T FINANCE 59 Developing digital finance delivery as a customer value proposition ₹ 7,700 Cr+ Collections 10 Cr+ Servicing Experience ₹ 24,100 Cr+ Sourcing 18.3 Lac Rural Customers COLLECTIONS SERVICING (%) SOURCING Q3 FY24 715 296 67% Downloads 2,08,93,926 4.4 Downloads 12,22,465 4.2 2,20,00,000+ Downloads Q4 FY24 1,126 369 75% ₹ in Cr Q1 FY25 1,024 529 82% Q2 FY25 1,683 641 82% Q3 FY25 2,027 718 86% Q4 FY25 2,256 706 85% Q1 FY26 2,800 1,012 85% Q2 FY26 4,008 1,374 85% Q3 FY26 4,700 1,614 89% 9 L&T Finance 0~ **** m **** ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
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L&T FINANCE 60 App as a powerful digital channel for customer (3/3) PLANET App: Service Measurement Metrics upto Q3FY26 Update SERVICING RESOLUTION 41.4 SOA Downloads 10.9 9.5 9.2 11.0 11.0 11.3 8.6 10.2 9.7 Repayment Schedule 6.6 6.6 6.9 8.0 10.8 7.0 5.5 6.2 5.9 Payments 5.0 5.3 6.3 7.1 5.5 5.6 5.8 7.0 7.9 Statutory Kits (Welcome, NOC etc) 8.5 64.4 74.2 75.0 97.0 110.2 102.4 121.6 132.1 Credit Score 5.8 Count in lacs Mainly includes: Digital channels14% 94%35% 4%51% 2% MAR’21 DEC’25 Call centre Branches Inverting the Servicing Pyramid Servicing channels (% of interactions across channels) 85.8 3.8 Q3 FY24 Q4 FY24 Q1 FY25 90.4 3.8 Q2 FY25 101.1 1.6 Q3 FY25 126.6 1.9 Q4 FY25 134.2 2.0 Q1 FY26 122.4 1.7 Q2 FY26 145.0 0.4 Q3 FY26 155.7 0.1 ► ii) ia l!l1J 9 L&T Finance
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L&T FINANCE 61 Developing digital finance delivery as a customer value proposition Customer focused digital first approach in not only Urban but also in Rural 100% Digital Disbursements (Rural + Urban) 99% eNach Penetration (Urban) 98% Digital Collections (Urban) 42% Digital Collections (Rural) Paperless Journey in Rural Group Loans, 2W Finance, Farm Equip. Finance, Personal Loans Digital delivery: Touching every part of the customer ecosystem 100% 9 L&T Finance NACHI ·-----t
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L&T FINANCE 62 Marked improvement in Rural Digital collections 3% 3% 5% 10% 21% 19% 23% 23% 27% 29% 35% 35% Apr'23 Jun'23 Sep'23 Dec'23 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 32% 41% 38% 47% 48% 53% 53% 59% 61% 63% 63% 67% Apr'23 Jun'23 Sep'23 Dec'23 Mar'24 Jun'24 Sep'24 Dec'24 Mar25 Jun'25 Sep'25 Dec'25 Rural Group Loans & Micro Finance (JLG) Farm Equipment Finance 9 L&T Finance - - - 0 L---------------------------------------------------------------------------------------------------------------------------------------------------------------------
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L&T FINANCE 63 *Score calculation based on response from customers onboarded during October - December 2025 Net Promoter Score Investing in enriching customer experience to build brand loyalty SME Loans Two Wheeler Finance Rural Group Loans & Micro Finance (JLG) Farm Equipment Finance Home Loans & LAP Personal Loans 705254 50 7668 LTF achieved an overall Net Promoter Score (NPS) of 55 NPS in Rural Segments NPS in Urban Segments With a goal to measure and improve customer satisfaction, initiated measurement of NPS starting October 2023 Continuous monitoring of NPS towards strengthening customer relationship and customer loyalty 9 L&T Finance 0 0 !----------------------------------------------------------------------------------------1 .. - - ' - i i - - - - ► ! ________________________________________________________________________________________ ! •-------------------- -· - [-----J--------------------------- ► ' .,,,
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L&T FINANCE 64 Index of Annexures Dominant Retail Franchise built over a decadeI Financials Other Annexures II III Asset Liability Management & Credit Ratings PLANET and Digital Update Sustainability (ESG & CSR) Board and Senior Management 9 L&T Finance
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L&T FINANCE 65 Prudent ALM - as on December 2025 Continue to maintain cumulative positive liquidity gaps Structural Liquidity statement Interest Rate sensitivity statement 1 year Gap ₹. Cr Re-priceable assets 76,378 Re-priceable liabilities 61,066 Positive 15,312 Cumulative Positive Gap 20,217 21,518 23,705 24,272 26,390 40,88323,333 Cumulative (%) 1,240% 1,238% 263% 169% 98% 105%623% 21,848 23,256 27,075 32,720 38,608 53,226 79,787 1,631 1,738 3,743 9,015 14,335 26,835 38,904 1-7 days 8-14 days 15 days-1 month 1-2 months 2-3 months 3-6 months 6-12 months Cumulative Inflows (₹. Cr) Cumulative Outflows (₹. Cr) 9 L&T Finance ■ ■
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L&T FINANCE 66 Credit rating: Update These long-term ratings are investment grade and are at par with India’s Sovereign Credit Rating These ratings will enable the Company to tap global capital markets and further diversify its liability franchise and deepen investor base International Ratings – at par with India’s Sovereign Rating Rating Agency Long-term / Short-term Rating of LTF S&P Global Ratings (S&P) BBB / Stable / A-2 Fitch Ratings (Fitch) BBB- / Stable AAA credit rating – Domestic Rating Agencies The ‘AAA’ rating is driven by LTF’s diversified business mix with strong presence across the financial services space, strategic importance and strong support from L&T, strong resource raising ability, adequate capitalisation and comfortable liquidity position Rating Agency Long-term / Short-term Rating of LTF Crisil Ratings, ICRA, CARE, India Ratings AAA / Stable / A1+ 9 L&T Finance
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L&T FINANCE 67 Index of Annexures Dominant Retail Franchise built over a decadeI Financials Other Annexures II III Asset Liability Management & Credit Ratings PLANET and Digital Update Sustainability (ESG & CSR) Board and Senior Management 9 L&T Finance
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L&T FINANCE 68 SDG – Sustainable Development Goals L&T Finance – Businesses aligned with Sustainability goals 41% of the loan book franchise is towards financing sustainable livelihoods; 67% of workforce is employed from Rural Pan-India Geo presence Field force 0) J~ Channels Customers -. Digital RURAL : f 45,000 Cr+ Book 2,200 + Branches Active customers across ~2,00,000 Villages 26,500 + employees hired from Rural India Rural Group Loans & Micro Farm Micro Finance (JLG) LAP Equipment Direct Direct 2,800+ Dealer Partnerships WOMEN ENTREPRENEURS FARMERS ~1.8 Cr Customers 100% Paperlessjourney 100% Digital disbursements 42% Digital Collections Agri Allied 600+ Accredited Warehouses Business deeply intertwined with ESG Reach Employment Generation Stakeholder Ecosystem Financing the underbanked & underserved Seamless Paperless journey Penetrating underserved geographies Generating sustainable livelihood Promoting rural entrepreneurship Moving communities from unorganized to organized Enabling financial inclusion Promoting doorstep banking 9 L&T Finance SDG Linkage II ■ 1 ~-" 5 ~~ 10 :., M♦,t W ◄ @ ►
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L&T FINANCE 69 ESG : Building a Sustainable Future – Key Highlights *Note: Study conducted by an independent consultant*Note: Study conducted by an independent consultant Operational Decarbonization Achieved ~47% green energy mix within total operations Transitioning to Renewable Energy Successfully shifted 46 branches to green power, significantly reducing operational carbon footprint and enhancing energy efficiency Mapping Waste Footprint & Inspiring Change Conducted waste management study & created awareness across 50 small branches (MCs) Going beyond Water Positivity 200+ Lakh KL water replenished through water conservation initiatives Enhanced Biodiversity Restoration Supported 39 flora and 119 terrestrial fauna species through Company’s Miyawaki plantation Digital Seva Kendras: DFI Centre 15 DSKs to create sustainable livelihood for beneficiaries Building a Strong Safety Culture Cross-functional ISO 45001 Internal Auditor training completed to strengthen Company's safety readiness Advancing Cyber-Safe Financial Behaviour ‘Sachet with Sachet’ initiative launched to promote secure and informed digital transactions Employees Driving Social Good 450+ volunteering hours clocked under the "Boondein" employee engagement program Fortifying Customer Trust Strengthened cybersecurity capability through KAI enhancement for customers Driving sustainable impact through Value Chain Annual value chain meet on BRSR principles with special focus on Human rights. ESG Thought Leadership Panelist at UNGC National Convention – Financing Sustainable Future Women Entrepreneurs Gaining Industry Recognition Digital Sakhi–supported women enterprise in South Karnataka honored with FKCCI’s Best Enterprise Award Cultivating an Inclusive Leadership Culture DEI sensitization to institutionalise inclusive hiring practices and equitable leadership Scaling Multilingual Digital Presence LTF corporate website launched in three regional language - Hindi, Bengali and Kannada LTF felicitated with prestigious ICSI Award for Business Responsibility & Sustainability (BRS) in service sector Climate Engagement Social Engagement Stakeholder Engagement 9 L&T Finance - , H IIIIt q, A
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L&T FINANCE 70 ESG : Building a Sustainable Future – Key Metrics Social Convergence of Social Schemes: Rs. 100 Cr Sensitization of Rural Communities on Cyberfraud: 70,000+ ESG Training module: 38,457 hrs. Financial Inclusion of Rural Communities: 4.30+ Lakh Diversity at Workplace 6.8 % female participation Govt. Stakeholder Consultations: 16 Community Stakeholder Workshops: 100+ Customer Satisfaction: 56 NPS Score Green Power Emissions Avoided: 2,104.67 tCO2e Total EVs Financed: 43,560 Emissions Avoided by Financing 2W Evs: \._ 7,667 tCO2e Total Waste Recycled: 32,709 kgs Recycled Paper in Operations: 66,411 kgs r .tlr L------------------ 9 L&T Finance Customer Data Breaches : 0 Conducted Hazard Identification & Risk Assessment (HIRA): 27 locations
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L&T FINANCE 71 ESG : Building a Sustainable Future – Ratings Performed in top decile in the FBN Diversified Financial Services and Capital Markets Industry in the S&P Global Corporate Sustainability Assessment (Score as of January 2025) 82.9 - ‘High footprint’ ‘Low Risk’ (July 2025) As of March 2025, LTF received an MSCI ESG Rating of ‘A’ 70 categorised as 'Strong (July 2025) 75 (December 2025) CRISIL ESG Ratings & Analytics NSE Sustainability Ratings & Analytics S&P Global MSC I - . F SG n,t,. I NG.S C!t l J I tD I an ll:II .u I tM SES 9 L&T Finance
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L&T FINANCE 72 Corporate Social Responsibility Social Good, Communities@scale Digital & Financial Inclusion 4.30 lakh + community members outreached under ongoing Dig- al Sakhi projects in Karnataka, Kerala, West Bengal, Tamil Nadu, Uttar Pradesh. Bihar, Rajasthan & Gujarat Over 1 00,000+ community members availed benefits of social entitlement & other government schemes worth Rs_ 100 Crore+ Over 1,100 Digital Sak his have been trained and equipped to record last-mile data using a custom Digital Sakhi mobile applica ·on across 8 states 2,500+ Special E ntrepreneurship Development Camps conducted or over 30,000 Women Entrepreneu rs across 8 states for upscaling their enterprises All India Radio (Udaip ur) inv ited 4 Digital Sekh is from Rajasthan to speak about their role in creating awareness and sensitization. Women Led enterprise nurtured under Digital Sakhl program awarded Best Enterp ris e Award by Federation of Kamataka Chambers of Commerce and Industry (FKCCI) - ·~· Climate Impact Management Under Jalvaibhav project sustainability plan. 11 water harvesting structures repaired (Cement Nala Bund, Check Dams. etc_) resulting in creating addi -anal water storage capacity 100+ Wate r User Group trainings conducted benefiting 5,000+ farmer s 30+ Farmer Field Schools set-up for demonstrating quality cash crops for over 500 fanners Social Inclusion Road Safety campaign sensitized 10,000+ school children in Mumbai. 60 Health camps organized in Nagpur (Maharashtra) benefiting over 3,000 patients 9 L&T Finance
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L&T FINANCE 73 Meaningful CSR Impact Since FY18 Digital and Financial Inclusion Climate Impact Management Disaster Management Districts 29 Villages 4,300+ Overall Outreach 76 Lakh+ States 14 Digital Sakhi Project Prakruti (Plantation) | Jalvaibhav Disaster Relief Social Inclusion Skill Training | Health Camps | Road safety 80% Digital Sakhi(s) are self-reliant from completed projects 230+ Digital Seva Kendra(s) extending community services 66.75 Lakh+ community outreach through 2,000+ Digital Sakhi(s) Rs. 325 Crore+ social schemes provided to over 5.70 Lakh+ community members 17,000+ rural women micro entrepreneurs trained Re.1 (invested) = Rs. 123 (Social Value): Social Return on Investment 2.68 Lakh plantation providing avenue for income generation of farmers 250 Lakh KL water harvesting capacity (water positivity ensured) >90% survival rate of horticulture & miyawaki plantation 60,000+ Farmers benefitted from water conservation and management activities > 500 Water User Groups (WUGs) trained 200+ Water structures created benefitting 122 villages in drought-prone areas 1.60 Lakh+ relief kits distributed amongst the community for disaster relief 6.5 Lakh beneficiaries provided relief during natural catastrophes 11 states covered during disaster relief 1.50 lakh+ youth sensitized on two-wheeler road safety 250+ health camps provided primary healthcare services to the underprivileged 75,000+ students from govt. schools sensitized on road safety behaviour Leading the way! ISO 26000:2010 Social Responsibility Transforming CSR through complete digitization 9 L&T Finance -------------------------- oOo \ ~ )
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L&T FINANCE 74 Corporate Social Responsibility Communication & Recognition RecognitionCommunication Financing Su&tainablc Futurw: Aligning CaplteJ with Climate , Equity , and Growth iiii ll - --··- 200 + media coverage fo,-Criail rating press refeHe •~ rn eg,on on arence • 1ng :1 Work and Lite: Nurtur1n11 Mind ilnd Body for El' onom lcs at th Workpl ---------- Ergonom cs at the Workplace CIIGrTAL SltKHIS TAKE TH£ MIC ON All lNDIA R..Ot<t' ·- ·- -.. -·-------- 0 0 ICSI Business Responsibil ity & Sustainability (BRS) Award ETBFSI Exceller Award for the 'Best Integrated ESG Strategy in NBFC' National CSR Awards (Rotary India) Education and Literacy India CSR Awards Excellence in Digital and Financia l Inclusion (Digital Sakhi) Fame National Awards Platinum award for outstanding project on women empowe rment in the NBFC industry 9 L&T Finance
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L&T FINANCE 75 Index of Annexures Dominant Retail Franchise built over a decadeI Financials Other Annexures II III Asset Liability Management & Credit Ratings PLANET and Digital Update Sustainability (ESG & CSR) Board and Senior Management 9 L&T Finance
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L&T FINANCE 76 Well experienced and diversified Board BOARD OF DIRECTORS Sudipta Roy, Managing Director & CEO o 29 years of experience across multiple domains in BFSI such as Consumer/Retail Banking, Payments, Credit/Debit Cards, Sales Management, Marketing and Business Intelligence. S.N. Subrahmanyan, Non-Executive Director, Chairman o Current Chairman & Managing Director of Larsen and Toubro Limited. o Over 40 years of sterling experience in engineering, project management, transformative organizational leadership and a driver of digitalization. R. Shankar Raman, Non-Executive Director o Current Whole-time Director and Chief Financial Officer of Larsen and Toubro Limited o Over 40 years of experience in finance, including audit and capital markets. Dr. R. Seetharaman , Independent Director o Former CEO of Doha Bank o Over 41 years of experience in the banking industry o Awarded the prestigious "Pravasi Bharatiya Samman", the highest civilian honor for overseas Indians, by the Government of India o Named "Best CEO in Middle East" seven times in the last 15 years Nishi Vasudeva, Independent Director o Former Chairperson and Managing Director of Hindustan Petroleum Corporation Ltd o Over 43 years of experience in Petroleum Industry o First Indian to be awarded the Global CEO of the year at Platt’s Global Energy Awards 2015 Dr. Rajani Gupte, Independent Director o Current Vice Chancellor of Symbiosis International University, Pune. o Over 43 years of experience in teaching and research at prestigious institutes. Dhananjaya Tambe, Independent Director o Former Dy. Managing Director & CIO of State Bank of India. o Over 40 years of experience in managing IT-Operations ,handling IT- Transformation, Collaboration and Marketing. 9 L&T Finance
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L&T FINANCE 77 Management Committee Sudipta Roy Managing Director & CEO 29 yrs exp, ICICI Bank, Deutsche Bank, Citibank NA Raju Dodti COO 27 yrs exp, IDFC, Rabo, ABN Amro, Soc Gen Jinesh Shah CE – Urban Secured Assets & Third-Party Products 30 yrs exp, HSBC, Citibank, ICICI Abhishek Sharma CE – SME Finance 21 yrs exp, Indian Army Sonia Krishnankutty CE – Rural Business Finance 26 yrs exp, Bank of Baroda Manish Kumar Gupta CE – Urban Unsecured Assets, Payments & Partnerships 24 yrs exp, ICICI Bank, Deutsche Bank, HSBC, Transunion CIBIL Apurva Rathod Company Secretary & Chief Sustainability Officer 24 yrs exp, Fidelity AMC, Kotak Mahindra AMC Sachinn Joshi CFO 35 yrs exp, Aditya Birla Financial Services, Angel Broking, IL&FS Asheesh Goel CE – Farmer Finance 31 yrs exp, Citibank NA Ramesh Aithal Chief Digital Officer 28 yrs exp, Elastic Search BV, Zenefits, Goldman Sachs, Ness Technologies Dr. Debarag Banerjee Chief AI & Data Officer 27 yrs exp, Jio, Intel, Lockheed Martin Kavita Jagtiani Chief Marketing Officer 26 yrs exp, Pidilite, General Mills, ICICI Bank Nilesh Dange Chief Human Resources Officer 29 yrs exp, L&T Group, H&R Johnson 9 L&T Finance
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78 Thank You ~ -- . I '1J L&T Finance ;