Please find enclosed Transcript of earnings call held on 31 July 2026

AI summary - Consolidated total income grew 19% to INR 42,037 Cr; PAT up 18% to INR 6,297 Cr in Q1 FY27 - Bajaj General: GWP +11.3%, underwriting loss INR 130 Cr, combined ratio 104.7%, profit INR 478 Cr, ROE 17.3% - Bajaj Life: retail premium +17.5%, VNB +87% to INR 271 Cr, NBM 15.9%, GWP +35%, PAT INR 51 Cr - Bajaj Finance: new loans +20%, AUM +24%, PAT +27.6%, GNPA 0.96%, capital adequacy 20.9% - Emerging businesses: Bajaj Finserv Direct breakeven expected Q3/Q4 FY27; Health breakeven FY28; Asset Mgmt AUM +26% - Insurance companies to adopt Ind AS from April 2027; potential impact from acquisition cost amortization and onerous contracts - Motor insurance pricing soft; tactical risk selection ongoing; combined ratio better than market by 16-18% - Group protection business grew 95% driven by MFI revival and new partnerships - Trail revenue models improving revenue stability in digital lending platforms - Reinsurance company approved; capital requirements under assessment