DISCLAIMERS

*For further details refer to section titled “Issue Related Information” on page 319 of the Tranche IV Prospectus dated June 16, 2026

***The allotment in the Tranche IV Issue is required to be made on date priority basis, i.e., first come first serve basis, based on the date of upload of each application into the electronic book of the Stock Exchange, in each portion subject to the Allocation Ratio. However, from the date of oversubscription and thereafter, the allotments will be made to the applicants on proportionate basis.

** The Tranche IV Issue shall remain open for subscription on Working Days from 10:00 a.m. to 5:00 p.m. (Indian Standard Time) during the period as indicated in the Tranche IV Prospectus. The Company may, in consultation with the Lead Manager, consider closing this Tranche IV Issue on such earlier date or extended date (subject to a minimum period of two working days and a maximum period of ten working days from the date of opening of the Tranche IV Issue and subject to not exceeding thirty days from filing the Tranche IV Prospectus with ROC, including any extensions), as may be decided by the Board of Directors or the Stock Allotment Committee, subject to relevant approvals, in accordance with the Regulation 33A of the SEBI NCS Regulations. In the event of an early closure or extension of the Tranche IV Issue, the Company shall ensure that notice of the same is provided to the prospective investors through an advertisement in an English daily national newspaper with wide circulation and a regional daily with wide circulation where the registered office of the Company is located (in all the newspapers or electronic modes such as online newspapers or websites of the Issuer or the stock exchange in which pre-issue advertisement for opening of the Tranche IV Issue has been given on or before such earlier or initial date of Tranche IV Issue closure). On the Tranche IV Issue Closing Date, the Application Forms will be accepted only between 10:00 a.m. and 3:00 p.m. (Indian Standard Time) and uploaded until 5:00 p.m. (Indian Standard Time) or such extended time as may be permitted by the Stock Exchange. Further, pending mandate requests for bids placed on the second last day and the last day of bidding will be validated by 5:00 p.m. (Indian Standard Time) on the Tranche IV Issue Closing Date.

DISCLAIMER

Muthoot Fincorp Limited (“Company”), subject to market conditions, and other considerations, is proposing a public issue of secured, rated, listed, redeemable, non-convertible debentures (“NCDs”) and has filed Tranche IV prospectus dated June 16, 2026 (“Tranche IV Prospectus”) which should be read together with the Shelf Prospectus dated January 29, 2026 (the "Shelf Prospectus") (together with the Tranche IV Prospectus, the "Prospectus") with the Registrar of Companies, Kerala and Lakshadweep (“RoC”), BSE Limited (“BSE” or “Stock Exchange”) and Securities and Exchange Board of India (“SEBI”). The Shelf Prospectus and Tranche IV Prospectus is available on the website of the Company at www.muthootfincorp.com, on the website of BSE at www.bseindia.com, on the website of the lead manager at www.nuvama.com, and on the website of SEBI at www.sebi.gov.in. Investors proposing to participate in the Issue should invest only on the basis of the information contained in the Shelf Prospectus and Tranche IV Prospectus. Investors should note that investment in the NCDs involves a high degree of risk and for details in relation to the same, refer to the Tranche IV Prospectus, including the section titled “Risk Factors” beginning on page 19 and “Material Developments” beginning on page 181 of the Tranche IV Prospectus.

Capitalised terms not defined herein shall have the same meaning as assigned to such terms in the Tranche IV Prospectus dated June 16, 2026.

DISCLAIMER:Investors proposing to participate in the Issue should note that investment in the NCDs involves a high degree of risk and for details in relation to the same, refer to the Tranche IV Prospectus dated June 16, 2026, including the section titled “Risk Factors” beginning on page 19 and “Material Developments” beginning on page 181 of the Tranche IV Prospectus. The Issuer and the Lead Manager accept no responsibility for statements made otherwise than in the Tranche IV Prospectus or in the advertisement or any other material issued by or at the instance of the Company and that anyone placing reliance on any other source of information would be doing so at their own risk.

DISCLAIMER CLAUSE OF BSE:It is to be distinctly understood that the permission given by BSE should not in anyway be deemed or construed that the offer document has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the offer document. The investors are advised to refer to the Tranche IV Prospectus for the full text of the disclaimer clause of the BSE.

DISCLAIMER CLAUSE OF USE OF BSE ELECTRONIC PLATFORM:It is to be distinctly understood that the permission given by the BSE to use their network and software of the Online system should not in any way be deemed or construed as compliance with various statutory requirements approved by the Exchange; not does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements; nor does it take any responsibility for the financial or other soundness of the Company, its promoters, its management or any scheme or project of the Company.

DISCLAIMER STATEMENT OF CRISIL

Crisil Ratings Limited (Crisil Ratings) has taken due care and caution in preparing the material based on the information provided by its client and / or obtained by Crisil Ratings from sources which it considers reliable (information). A rating by Crisil Ratings reflects its current opinion on the likelihood of timely payment of the obligations under the rated instrument and does not constitute an audit of the rated entity by Crisil Ratings. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. The rating is not a recommendation to invest / disinvest in any entity covered in the material and no part of the material should be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. Crisil Ratings especially states that it has no liability whatsoever to the subscribers / users / transmitters/ distributors of the material. Without limiting the generality of the foregoing, nothing in the material is to be construed as Crisil Ratings providing or intending to provide any services in jurisdictions where Crisil Ratings does not have the necessary permission and/or registration to carry out its business activities in this regard. Muthoot Fincorp Limited will be responsible for ensuring compliances and consequences of non-compliances for use of the material or part thereof outside India. Current rating status and Crisil Ratings’ rating criteria are available without charge to the public on the website, www.crisilratings.com. For the latest rating information on any instrument of any company rated by Crisil Ratings, please contact customer service helpdesk at 1800-267-3850.

DISCLAIMER CLAUSE OF BRICKWORK:

The credit rating assigned by Brickwork Ratings India Private Limited ("BWR" or "CRA") to the debt instruments of the Issuer has been undertaken in accordance with the provisions of the SEBI (Credit Rating Agencies) Regulations, 1999, and the applicable SEBI master circulars, guidelines and directions, as amended from time to time. The rating is based on information and data furnished by the Issuer and other sources believed by the CRA to be reliable. The CRA does not audit, verify, or independently validate such information and does not guarantee its accuracy, adequacy, or completeness. The credit rating is not a recommendation to buy, sell or hold the securities, nor does it constitute an opinion on the price, marketability, legal compliance, or suitability of the issue for any particular investor. The rating is an opinion on the relative credit risk of the rated instrument as on the date of assignment and is subject to revision, or withdrawal at any time, in accordance with applicable regulations and the CRA's internal policies, without prior notice. The CRA shall not be liable for any losses, damages, claims or expenses (direct, indirect, incidental, special or consequential) arising out of the use of, or reliance upon, the credit rating, the consent, or the contents of any of the above documents, except to the extent mandated under applicable law. The Issuer shall not state or imply that the CRA has verified, endorsed, guaranteed or assured the performance, repayment, or compliance of the issuer or the rated instruments.

DISCLAIMER CLAUSE OF CRISIL INTELLIGENCE (INDUSTRY REPORT)

Crisil Intelligence, a division of Crisil Limited, provides independent research, consulting, risk solutions, and data & analytics to its clients. Crisil intelligence operates independently of Crisil’s other divisions and subsidiaries, including, Crisil Ratings Limited. Crisil intelligence’s informed insights and opinions on the economy, industry, capital markets and companies drive impactful decisions for clients across diverse sectors and geographies. Crisil Intelligence’s strong benchmarking capabilities, granular grasp of sectors, proprietary analytical frameworks and risk management solutions backed by deep understanding of technology integration, makes it the partner of choice for public & private organisations, multi-lateral agencies, investors and governments for over three decades.

For the preparation of this report, Crisil Intelligence has relied on third party data and information obtained from sources which in its opinion are considered reliable. Any forward-looking statements contained in this report are based on certain assumptions, which in its opinion are true as on the date of this report and could fluctuate due to changes in factors underlying such assumptions or events that cannot be reasonably foreseen. This report does not consist of any investment advice and nothing contained in this report should be construed as a recommendation to invest/disinvest in any entity. This industry report is intended for use only within India. Provided that, the company shall be responsible for ensuring compliances and consequences of non-compliance for use of the report, material & issue documents or any part thereof outside India in relation to the issue.

DISCLAIMER CLAUSE OF RBI

The company is having a valid certificate of registration dated July 23, 2002 bearing registration no. N-16.00170 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, 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 liability by the company.