#1Best Companies To Work For Best Workplaces™ for Women Great Place Great Place To To INDIA Work. 2023 Work INDIA 2023 ✰ AngelOne To, Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. Symbol: ANGELONE Dear Sirs/ Ma'am, Sub: Investor(s) Presentation Department of Corporate Service BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001. Scrip Code: 543235 With reference to above captioned subject, please find attached Investor presentation. The Presentation will be uploaded on the Company's website at www.angelone.in Request you to kindly take the same on record. Thanking you, For Angel One Limited NAHEED REHAN PATEL Digitally signed by NAHEED REHAN PATEL Date: 2024.01.15 17:56:14 +05'30' Naheed Patel Company Secretary and Compliance Officer Date: January 15, 2024 Place: Mumbai Encl: As above EMPOWERING INVESTORS A SEBI Initiative Corporate & Regd Office: 601, 6th Floor, Ackruti Star, Central Road, MIDC, Andheri (E), Mumbai - 400093. T: (022) 2820 5943 | (022) 4000 3600 F: (022) 4000 3609 E: [email protected] www.angelone.in Angel One Limited CIN: L67120MH1996PLC101709, SEBI Registration No Stock Broker:INZ000161534, CDSL: IN-DP-384-2018, PMS: INP000001546, Research Analyst: INH000000164, Investment Advisor: INA000008172, AMFI Regn. No. ARN-77404, PFRDA, Regn. No.-19092018. Classified as Confidential#2A AngelOne Q3'24 Investor Presentation 15th January 2024 ONE for a billion aspirations#32 Safe Harbour Great Place A AngelOne To Work Certified PE2023-FEB 2324 This presentation and the accompanying slides (the "Presentation"), which have been prepared by Angel One Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward- looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the broking industry in India, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.#4Table Of Contents 3 Q3'24 Highlights Business Model Angel's Advantage Industry Landscape Financial Overview About Us !!! Annexures * AngelOne Great Place To Work Certified PE2023-PB224#54 Q3'24 Performance Client Acquisition Metrics Active Client Metrics Transaction Metrics 19.5 Mn (+14.0% Q00) 5.3 Mn (+9.9% Q0Q) 350 Mn (+3.5% Q0Q) Total Client Base NSE Active Client Base Number of Orders 2.5 Mn (+16.2% QoQ) Gross Client Acquisition 14.0% (+80 bps QoQ) 2nd (Maintained) Rank In Incremental NSE Active Clients 14.8% (+19 bps QoQ) A AngelOne Financial Metrics 8.3 Bn (+1.4% Q00) Total Net Revenue 36.0 Trn (+21.4% QoQ) Average Daily Turnover 3.6 Bn (-13.0% QoQ) Earnings Before Dep, Amortisation & Tax 26.8% (+62 bps QoQ) Share in India's Demat Accounts Share in NSE Active Client Base Share in Retail Overall Equity Turnover 24.7% share in India's incremental demat accounts in Q3'24 Share in India's demat accounts = Angel's Total Client Base / Total Demat Accounts in India as on 31st Dec, 2023 NSE Active Client Base as on 31st Dec, 2023 Share in NSE active clients = Angel's NSE Active Clients / Total NSE Active Client Base as on 31st Dec, 2023 Share in India's incremental demat accounts = Angel's Incremental Client Base / Incremental Demat Accounts in India Net Revenue Total Gross Revenue - Fees & Commission Exp - Finance Cost EBDAT Net Revenue Emp. Cost Other Opex 2.6 Bn (-14.5% QoQ) PAT From Continuing Operations Great Place To Work Certified PE2023-PB224#6LO 5 Super App: Feature Enhancements Open Interest Analytics 8:17 46 100 8:17 46 100 ← Ol Analytics 01 Analytics NFTY FIIDII 01 & PCR vs Time Expiry 11 J2024 FOR AN M Open Interest Expry 11 Jan 2124 FII Dil Provisional Cash (d) Dale 02 Jan 2021 FIDI Daily Fll Cash 292023 +53125 201023 -1559.10 FII Futures Activity SEE MORE Dale Net Amount 202 080 26 02 M 27 STAND Of Chance Expy 11 Jas 2124 2524 29L202 354 SETESENAN TES HO +1 8:18 40 8:18 43100 Discover 8:18 Discover Stocks 40 (X) Open Interest analytics helps clients to analyse OI, Put Call ratio vs time Helps clients to visualise multi-strike Ol charts Display Global Indices on the app Improves clients' decision making Highest Peterne Home News Q O Mont Stocks with the highest ruma vera specfied peiod of time T: Week ← Discover ADANPOWER 551.10-> Fundamental List Lining on with goan funderestal pan Discover Stocks › H Insta Trade FSO Occa Tratins made faster wth Charts Advisory Faces of ciffnes ALOKINDERKL SPARE GELOLE 20.30 Lew P/E Lato PFLPHARMA wh 144 60 High den Vickl Free 100 Sectoral Themes Toppiclo conmmond by our experts Lapiks of different sectors * Top 10 To 12v 10 IT Finance NC Tale 270130) MEWALLS MEWALLY Bscet Of The Bueche Merkel 000 Groes with strong fanda sentals ELANCE 105 2607.70- 3707.00- Instant Orders From Charts Optochen B + 25 5175 A 21-03 600 1000 பேப்ைபகை! C 01E+ HNDINLAR 0.000 - TATAPOTERS DE BOLD +8151-00251 - 3043800- 40276 43700 43650 434.50 Clients can swiftly execute multiple trades with a single click, directly from the chart Improves trading efficiency as clients will be able to capture shorter opportunities SVOID T90A HONL гот G pachus Q NT211340-341 Watchlist 0' x QIFTY SIFTY HO -1323301-3055 HAYMOND P 200 HFTY 21.58.95 6531-14) NETY JAN 2124 4 No o BUY W115/1.5 9785 SILL 253. EMA 221091.05 21707206 Advance Lan Cery Forward 1 Link Show Voldedly O Chor 25.787.00 12237 PLACE BUY CICER Instant Orders List Of Stock The Bull Cartel undervalued Comp 2787000 Market Depth & Get Quote 20066-25 • • TradeOne A AngelOne Great Place To Work Certified PE2023-PB224 Simplifying the first investment experience Screeners host different collection of stocks like blue chips, high returns, sectoral themes, top gainers, etc. Improves engagement and encourages long term investing *5,181.80 000 Simplifies trading experience Consolidates key data & other 27. 20000 TOW 5 3150 1 100 281881 3152153. 137300 To 272002 Ox: 27519.00 23. 21.0 2780000 2PA12 T ? wanna 1251700 111313 40 21756.5 • 1974.00 250000 63H Wow 0:31 6 10 50 IM 58 CM IT ST 02:18:01 (UTC+5:30) % po functions on a dedicated page, thus eliminating the need for constant screen switching Quick assess to multiple data points, more focused decision-making#7CO 6 Scaling Up The Assisted Business Channels 1 Products Mutual Funds Equities, Commodities, Currency Insurance Products * AngelOne Assisted Business AP's Leading DSA's MF Distributors Lending Products Point of Sales Persons A AngelOne Fixed Income Products Other digital platforms ✓ Multichannel play for better reach ✓ Build an ecosystem to offer full product suite ✓ Significantly deepen our channel partner network and geographical reach ✓ Build efficiencies in existing framework and channel pool ✓ Leveraging NXT, our in-house developed technology platform, to enhance partner engagement ✓ User personalisation for high impact Expand addressable market through channel & product play Transition to lifecycle management for superior value extraction Great Place To Work Certified PE2023-PB224#8Striving To Improve Client Experience Features Live Development Pipeline Great Place A AngelOne To Work Certified PE2023-PB224 HOW TO START TRADING IN OPTIONS? New Features Introduced, Focused On Elevating Experience FnO Onboarding journey launched for beginners to simplify their trading journey anitam Nifty A Angelné & BankNifty Live Trading 1:51:22 Live Trading sessions by Angel One experts to educate options traders MTF Dashboard to enhance visibility of MTF trades • Tick-by-Tick Data On Charts Significantly enhances accuracy & provides clients with data on the most recent market activity Sharpens technical indicators & pattern recognition, making trading systems more reliable Improves product reliability through real time price triggers External Equity Portfolio Allows clients to have comprehensive and holistic view of their investment portfolio from a single platform A 3T Vernacular FAQ to break the language barrier Aggregate News about market & personalised to users' portfolio & watchlist • Makes clients investment journey convenient and more efficient • Eliminates the need to switch between different platforms • Option Strategy Improves trading efficacy through better risk management & optimized margin through hedging • Invocations across key journeys to effortlessly manage favorite strategies Facilitates clients to hedge & optimize their basket orders with suggestive strategies & more in pipeline...#9Table Of Contents 8 Q3'24 Highlights Business Model Angel's Advantage Industry Landscape Financial Overview About Us !!! Annexures * AngelOne Great Place To Work Certified PE2023-PB224#109 Strong Multi-Year Revenue Visibility From Clients Acquired Broking Revenue Progression Of Acquired Cohorts * AngelOne Year 1 Year 2 Year 3 Year 4 Year 5 Beyond Year 5 Pre Digital FY15-17 100% 47% 32% 26% 26% 26% FY18 100% 42% 36% 36% 38% FY19 100% 49% 45% 44% Post Digital H120 100% 69% 63% I 63% I I H2'20 100% 82% 77% I • Historically, clients have given multi-year revenues, making this an annuity business model Revenue has been observed to stabilise from 3rd Year onwards Our successful transformation to digital model has enhanced client revenue progression: 2nd Year increased from 47% to 85% of 1st Year H121 100% 85% 80% H2'21 100% 86% • 3rd Year increased from 32% to 80% of 1st year • 4th Year increased from 26% to 63% of 1st year H122 100% 85% H2'22 100% H123 100% Strong revenue visibility of digitally acquired cohorts for multiple years Incremental benefits of Super-App to accrue additionally H2'23 100% % in each year is benchmarked to Year 1 revenue Great Place To Work Certified PE2023-PB224#1110 Huge Operating Leverage From Acquired Base FY22 Cohort: Revenue / CoA Representation Estimated 3 Year Behaviour Based On Latest Actual Revenue Progression (Mn) Year 1-A Year 2-E Year 3-E 3 Year Aggregate 3 Yr Rev./ CoA Total Net Revenue 9,617 8,142 7,702 25,462 % of Year 1 Revenue 85% 80% Cost of Acquisition (COA) 3,226 0 0 3,226 7.9 x Cohort longevity is beyond 3 years, akin to an annuity type business model Direct Cost 1,015 599 622 2,236 Total Cost 4,240 599 622 5,462 Contribution Margin 5,376 7,543 7,080 20,000 Contribution Margin (%) 55.9% 92.6% 91.9% 78.5% 3.0 x 5.5 x 7.9 x • Great Place A AngelOne To Work Certified Acquired clients are profitable from Year 1, indicating robustness of our digital business model Year 2 onwards, contribution margin is 90%+ 3-Year Revenue / CoA for clients acquired in FY22 remains robust at 7.9x Revenue / CoA will expand further as clients continue contributing revenues in subsequent years Benefits of multi-products in Super-App to further enhance the lifetime value of every cohort 1st Year (A) 2nd Year (E) 3rd Year (E) Cumulative Revenue / CoA 4th Year (E) 5th Year and Beyond (E) Long lifetime value and low cost to serve in subsequent years, makes the business highly profitable Year 2 onwards are management estimates basis historical trends taken of clients who have completed Year 2 and beyond PE2023-PB224#1211 FinTech Model Showing Better Prospects For Every Cohort Consistently Acquiring Younger Clients 51% 25% <25 years >25 years Great Place A AngelOne To Work Certified >89% Of Gross Client Addition Contributed By Tier 2, 3 & Beyond Cities In Q3'24 PE2023-FEB 2324 1,337 1,468 1,257 1,178 988 1,293 1,325 2,117 2,461 ('000) 254 225 553 60% 57% 51% 490 Tier 1 169 157 131 31 133 13 148 120 Tier 2 468 431 383 103 326 305 357 1,654 304 1,402 40% 43% 49% Tier 3 749 830 742 701 834 872 580 FY22 FY23 9M '24 Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Avg Age Of Clients Acquired 29 29 29 29 29 29 29 29 29 28 20 29 Rising Share Of Net Broking Revenue From Longer Vintage Clients 5+ years 3-5 years 2-3 years 1-2 years <1 years Consolidated EBDAT Margin Reported margin Normalised margin 57.5% 55.1% 50.9% 52.4% 53.9% 51.3% 48.6% 48.6% 44.0% 30% 23% 21% 52.3% 51.2% 16% 9% Q3'22 04'22 Q1'23 Q2'23 Q3'23 04 23. Q1'24 Q2'24 Q3'24 Includes one time profit of 89.9 Mn on Includes one-time positive impact of sale of property 405 Mn on account of reversal of grants & - variable pay provision 66 9% 9% 7% Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 03'24 Prior period figures are restated, especially for bad debts recovered, which formed a part of other income, now being netted off against bad debts from other expenses. The same does not impact our EBDAT and profit after tax. Tier 3 includes Tier 3 and beyond cities. EBDAT Net Income Emp. Cost - Other Opex; EBDAT Margin = EBDAT/ Net Income.#1312 EBDAT Bridge 4,185 Q2'24 EBDAT Margin 51.3% -729 bps 117 -56 -30 -574 03'24 EBDAT Margin 44.0% 3,641 Q2'24 EDBAT Inc. In Total Net Rev Inc. In Emp Cost Inc. In ESOP Cost Inc. In Other Exp. Q3'24 EBDAT (Mn) A AngelOne Q3'24 EBDAT impacted due to: 1.7% QoQ Decline In Net Broking Income: • . 20% increase in cash segment orders Change in tariff structure for cash intraday segment Offset by 14.2% QoQ growth in Net Interest Income 16.6% QoQ Increase In Expenses: ⚫ Headcount addition in asset management business, data & analytics, technology • and operations functions Strategically higher investment in client acquisition to capitalise on robust market environment Higher spends on tech infrastructure, demat charges and CSR Strategic investments in client acquisition and new businesses, should reap benefits of better operating leverage EBDAT Net Income Emp. Cost - Other Opex; EBDAT Margin = EBDAT / Net Income Great Place To Work Certified PE2023-PB224#1413 Expanding Multi-Product Relationship ('000) Unique SIPs Registered 955 725 431 108 50 48 57 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Great Place A AngelOne To Work Certified PE2023-PB224 Consumer Credit Products ❖Building proprietary AI/ML models using internal and external consumer data, to facilitate lending partners underwrite and collect better Initial review of customer bureau data indicates high quality base with sound credit profile Start by offering unsecured consumer loans Beta Testing Amongst top 2 players in terms of incremental SIPs in Q3'24 Substantially improved client NPS Setting up a SIP mandate through UPI gone live Improved discoverability of funds on homepage, leading to higher conversions Improved MF journeys on NXT platform Zero marketing spend Key Drivers • Simplified product experience that provide clients with speed & stability Intelligent & personalised communication to clients Fixed Income Products ❖ Leveraging technology to provide a seamless experience to clients ❖ Strategic alliances with leading banks and NBFCs Offer highly rated Bank FDs and Corporate Bonds Adding newer products on the Super App, to build long-term affiliation FY24 Go Live#1514 Exploring Growth Opportunities Great Place A AngelOne To Work Certified PE2023-PB224 07. Talent/IP Acquisition: Onboard strategic IP's & entrepreneurial teams to build differentiated products 01. Manufacturing Platforms: Strategic investments in businesses of scale across consumer financial services landscape 06. Learning Platforms: Educational platform as clients with varied experience are keen to learn about products, 06 90 suitability and improve their abilities 07 01 05. Content Engagement Platforms: Content development for young clients to improve 05 their knowledge pool 04 03 02 04. Adjacencies in Broking: Services/platforms that can enable users to discover & decide better strategies that help clients to improve their trading/investing outcomes 02. Distribution Platforms: Platforms with proven distribution capabilities Expand product offerings to our clients 03. Pure WealthTech: Right platforms to address the wealth creation & accumulation need of clients - Natural extension to our broking and investing platform#16Table Of Contents 15 Q3'24 Highlights Industry Landscape M About Us !!! Business Model Angel's Advantage Financial Overview Annexures * AngelOne Great Place To Work Certified PE2023-PB224#1716 Population: 1.2 Bn (2011) 1.7% Demat Penetration 7% FinTech Model Enabling Penetration Of Vast Addressable Market 1.4 Bn India: Target Addressable Market India Population - 2021 26% Unique Accounts in Financial Institutions Individual PAN Card Holders India Demat Accounts (Mn) 26% 41% ■ <15 yrs ■15-30 yrs ■ 30-64 yrs ■ 65+ yrs Apr-12 Nov-12 Jun-13 Jan-14 Aug-14 Mar-15 Oct-15 May-16 1.1 Bn (Dec'21) 656 Mn (Jun'23) Steady Growth In Demat Accounts In India Dec-16 Jul-17 Feb-18 Sep-18 Population: 1.4 Bn (2022) 9.8% Demat Penetration Apr-19 Nov-19 Jun-20 Jan-21 Aug-21 Mar-22 Oct-22 May-23 India market continues to remain hugely under-penetrated Source: Census, World Bank, CDSL, NSDL, Income Tax, Crisil, NSE, United Nations (Population Division), Media sources ^ Top 5 states considered for each of the periods. Top 5 for Apr-Nov 23 period include Maharashtra, Uttar Pradesh, Gujarat, Karnataka and West Bengal. A AngelOne India NSE Active Clients 139 Mn (Dec'23) 9.8% of total population 36 Mn (Dec '23) 2.6% of total population Rising Share Investors On NSE From Beyond Top 5 States Top 5 States^ Rest of India LL 47.2% 52.8% FY19 47.6% 52.4% FY20 51.4% 48.6% FY21 49.3% 50.7% FY22 48.7% 51.3% 48.3% FY23 Apr - Nov '23 51.7% Great Place To Work Certified PE2023-PB224#18Digital Brokers At The Forefront Of Driving Penetration Share Of Top 5 Digital Brokers In Incremental NSE Active Clients Great Place A AngelOne To Work Certified PE2023-PB224 Industry -0.66 -2.05 -2.66 -1.77 Others 34% 32% 30% Angel One +0.16 +0.06 +0.04 +0.13 Industry de-grew but Angel continued 27.3% 34.1% Top 5 Digital Brokers* 66% 68% 70% Other Digital Brokers (Part of Top 5) to grow -0.42 -1.00 -1.40 -0.64 72.7% 65.9% Others (Mn) % Share of Top 5 Digital Brokers in Total NSE Active Client Base Q3'22 04'22 Q1'23 (Mn) -0.24 -1.05 -1.26 -1.13 Q2'23 Q3'23 04'23 Q1'24 Top 5 Digital Brokers Constitute 63% In Total NSE Active Clients Base Q2'24 Q3'24 Top 5 Digital Brokers* Others 38.0 37.4 36.0 35.3 36.2 32.7 31.6 33.4 30.9 15.9 15.3 15.5 14.4 13.5 13.8 13.1 12.5 11.8 22.7 20.8 22.1 21.9 20.9 19.6 19.1 20.9 17.7 Q3'22 04'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 56% 58% 58% 59% 59% 60% 62% 63% 63% 17 Source: NSE * Top 5 Digital Brokers based on NSE Active Client for the respective period ended.#19Nifty 50 20,000 Growth In Trade Volumes De-linked To Market Cycles Consistent Improvement In NSE Trade Volumes Despite Market Volatility Over Last 16 Years 16,000 12,000 8,000 FY09: Global Financial Crisis Nifty 50: -36% Trades: +27% FY12: High Inflation, Low Growth In India Nifty 50: -9% Trades: +2% 4,000 0 FY07 FY08 FY09 Source: NSE 18 Trade volumes represent number of trades in cash market and number of contracts for F&O on NSE FY16: Slowing China FY20: COVID-19 GDP, Greek Debt Default, end of QE Nifty 50: -9% Trades: +8% Nifty 50: -26% Trades: +38% 2 2 2 2 2 2 Number of Trades -Nifty50 Increasing penetration and higher retail participation defies market cyclicality 0 10 Great Place A AngelOne To Work Certified PE2023-PB224 50 50 20 20 30 30 40 40 Number of Trades (Bn)#20Trading Activity On NSE Turnover Range 19 Source: NSE Activity On NSE In Nov '23 > 100 mn 10-100 mn 1mn-10 mn *1mn-0.1mn Cash Segment ~10.7 mn Investors Traded ~14.8 Trn Cash T/o Great Place A AngelOne To Work Certified > 83 mn investors registered <0.1mn • Share of Individual investors' in NSE free float market cap touched 19.5% Share of Domestic MFs in NSE free float market cap rose to a high of 17.6%, primarily led by an increase in ownership by active mutual funds Aggregate turnover upto * 0.1 mn in Nov 23 NSE-listed universe: Ownership Pattern By Free Float Market Cap (Sep'23) % of Unique Investors 69.5% (7.5 mn) % in turnover Flls Individual Investors 0.5% Active MFS Passive MFs 3.4% 19.5% 14.2% Equity Options Bank, Fls, Insurance ~3.7 mn Investors Traded ~9.8 Trn Option Prem. T/o 46.5% (1.7 mn) 0.2% 11.5% Others 10.2% Non-Promoter Corp. 4.0% 37.1% PE2023-PB224#21Table Of Contents 20 20 Q3'24 Highlights Industry Landscape MI About Us Business Model Angel's Advantage !!! Financial Overview Annexures * AngelOne Great Place To Work Certified PE2023-PB224#225,100 Consolidated Financial Performance Gross Revenues Gross Broking Interest Income Other +40% 10,493 10,608 1,411 1,401 3,099 7,597 1,812 2,123 1,126 1,371 7,270 7,084 EBDAT +18% 4,185 3,641 2,280 Great Place A AngelOne To Work Certified PE2023-FEB 2324 (Mn) Profit After Tax +14% 3,045 Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3'24 2,603 21 TTM PAT of 10.5 bn translating into EPS of 125.7/share (1) Interest Income includes interest on margin trading fund, income from lending activities, interest on FD under lien with stock exchanges, interest on delayed payment by customers and Interest on deposits with banks (2) Other includes balance portion of our revenues (3) EBDAT = Net Income Emp. Cost - Other Opex; EBDAT Margin = EBDAT / Net Income (4) PAT is profit after tax from continuing operations on reported basis (5) EPS is calculated as Profit After Tax from continuing operations / period ending weighted average number of equity shares (6) Prior period figures are restated, especially for bad debts recovered, which formed a part of other income, now being netted off against bad debts from other expenses. The same does not impact our EBDAT and profit after tax.#23Segmental Revenue Break Up 22 22 Gross Revenue Mix ■ Gross Broking ■ Interest ■ Depository ■Distribution 2% 8% 9% 0% 1% 4% 3% 1% 18% Q3'23 12% 67% 17% Q2'24 69% Gross Broking Revenue Mix Great Place A AngelOne To Work Certified PE2023-PB224 Other Income Ancillary Transaction Charges 1% 4% 8% 1% 20% Q3'24 ■Commodity ■ Currency 4%0% 5% 11% 11% ■ F&O ■ Cash 1% 5% Q3'23 Q1'24 82% 85% Prior period figures are restated, especially for bad debts recovered, which formed a part of other income, now being netted off against bad debts from other expenses. The same does not impact our EBDAT and profit after tax. Q3'24 67% 84%#24Net Broking Revenue & Margin Profile Contribution to Net Broking Revenue (Mn) Direct Business Assisted Business 5,232 5,144 Reported EBDAT Normalised EBDAT EBDAT Margin*: Direct Business Great Place * AngelOne To Work Certified 54% 53% 51% 51% 50% 48% 47% 45% 41% 1,149 (22%) 1,215 (24%) 3,532 Q3'22 Q4'22 830 (23%) Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 EBDAT Margin*: Assisted Business 66% 62% 62% 59% 4,084 56% (78%) 3,930 (76%) 55% 54% 54% 52% 2,703 (77%) 61% Q3'23 Q2'24 Q3'24 Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 EBDAT Net Income - Emp. Cost - Other Opex 23 EBDAT Margin = EBDAT / Net Income * 04'23 includes one-time positive impact of 405 Mn in EBDAT, on account of reversal of - grants & variable pay provision. The same is apportioned in direct and assisted business PE2023-PB224#25Client Funding Book Spread Over Large Customer Base 24 24 13,773 * AngelOne Client Funding Book Size Low Per Client Exposure (Mn) Client Funding Book Segmentation (% of clients using the facility) (₹) 1,31,406 <0.1mn 0.1-0.5mn >0.5mn 4.1% 1,17,432 6.3% 4.7% 19,459 19,742 8.8% 7.7% 1,02,280 10.1% 87.0% 83.7% 87.5% Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3 '24 Negligible NPAs in client funding book Secured by clients' demat holdings Robust risk management to avoid delinquencies Potential to grow further (1) Data as on quarter ending for each period (2) Client funding book includes period ending trade receivables (net of non-interest bearing receivables), loans for margin trading facility and loans against securities Great Place To Work Certified PE2023-PB224#26High Variable Cost Insulates Margin Profile 25 25 5% Variable cost: 78% 35% 38% FY23 Cost Split * AngelOne 20% 2% 100% Finance Cost Fees & Commission Exp. Other Variable Cost Fixed Cost Depreciation Other variable cost includes cost of acquisition, components of employee benefit expenses, cloud expenses, KYC & transactional expenses High variable cost structure provides elastic cost levers to protect margins Total Great Place To Work Certified PE2023-PB224#2726 Consistently Paying Dividend Dividend Per Share 9.25 9.60 9.00 7.50 7.65 7.00 5.70 5.15 4.15 13.60 Great Place * AngelOne To Work Certified (*/ Share) 12.70 12.70 9.25 Q2'21 Q4'21 Q1'22 02'22 Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Particulars(/ Share) Q2'21 Q3'21 Q4'21 Q1'22 Q2 '22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Consolidated Book Value Per Share 120.9 125.7 138.2 146.3 158.0 172.9 191.2 206.0 226.5 247.4 259.1 282.6 311.4 331.9 Consolidated Earnings Per Share 10.4 9.0 12.5 14.8 16.3 19.9 24.7 21.9 25.6 27.4 32.0 26.4 36.3 31.0 Dividend Payout Ratio (%) 46% 60% 35% 35% 35% 37% 35% 35% 35% 43% 35% 35% 41% Includes 3rd interim dividend paid in April '21 Includes 4th interim Includes 4th interim dividend paid in April '22 dividend paid in April '23 Book Value Per share calculated based on period ending number of equity shares, Earnings per share calculated based on period ending weighted average number of equity shares 2nd interim dividend announced in Q2 '21, paid at 35% of H1 '21 Consolidated Profit After Tax from Continuing Operations PE2023-PB224#28Consolidated Profit & Loss Statement Particulars(Mn) (a) Interest Income (b) Fees and commission income (c) Net gain on fair value changes Total Revenue from operations (1) (d) Other Income (II) Total Income (|+||=|||) YoY Growth (%) Expenses (a) Finance costs (b) Fees and commission expense Great Place A AngelOne To Work Certified Q3 FY24 2,123 Q2 FY24 Q3 FY23 9M FY24 9M FY23 FY23 FY22 1,812 1,371 5,383 3,825 5,195 3,653 8,447 8,649 6,092 23,703 17,896 24,760 18,961 20 18 23 58 37 61 297 10,590 10,479 7,486 29,144 21,758 30,016 22,911 18 14 111 68 142 195 60 10,608 10,493 7,597 29,212 21,900 30,211 22,971 39.6% 40.7% 25.5% 33.4% 35.7% 31.5% 77.9% PE2023-PB224 FY23 Other income includes 89.9 mn towards profit on sale of property 356 264 255 803 697 895 1,976 2,071 1,592 5,689 4,735 6,407 721 5,502 (c) Impairment on financial instruments 21 19 3 58 22 36 36 (d) Employee benefits expenses 1,243 1,186 900 3,515 2,612 3,451 2,653 (e) Expense on Employee Stock Option Scheme 173 143 214 462 612 528 156 (f) Depreciation, amortization and impairment 131 112 80 332 213 303 186 FY23 include one- time positive impact of 405 Mn on account of reversal (g) Others expenses 3,198 2,626 1,534 7,804 4,706 6,673 5,349 of grants & variable Total Expenses (IV) 7,098 6,421 4,578 18,663 13,598 18,293 14,604 pay provision Cost to Net Income 57.6% 50.1% 47.5% 53.6% 49.6% 48.0% 50.0% Profit before tax from continuing operations (III-IV=V) 3,510 4,072 3,019 10,549 8,302 11,918 8,367 Total Income tax expense (VI) 906 1,035 742 2,700 2,074 3,019 2,110 Profit for the period / year from continuing operations (V-VI-VII) YoY Growth (%) 2,604 3,037 2,277 7,849 6,228 8,899 6,257 14.4% 42.2% 38.3% 26.0% 48.2% 42.2% 104.1% Tax For Previous Years (VIII) 1 -8 -3 -7 -4 -3 7 Rep. Profit for the period / year from continuing operations (VII-VIII-IX) YoY Growth (%) 2,603 3,045 2,280 7,856 6,232 8,902 6,251 14.2% 42.5% 38.5% 26.1% 48.3% 42.4% 109.7% Loss after tax from discontinued operations (X) Profit for the period / year (IX+X=XI) -0 2,603 0 3,045 0 0 -2 -3 -3 2,280 7,856 6,230 8,899 6,248 22 27 Prior period figures are restated, especially for bad debts recovered, which formed a part of other income, now being netted off against bad debts from other expenses. The same does not impact our EBDAT and profit after tax. 1) Cost to Net Income (Employee + other opex + depreciation)/Net Income; Net Income = Gross Revenue - Fees & Commission Exp - Finance Cost#29Summary Of Consolidated Balance Sheet Particulars (Mn) Financial Assets (a) Cash, cash equivalents and Bank Balance (b) Other Trade Receivables (c) Client Funding Book (d) Investments (e) Other financial assets Non-financial Assets (a) Fixed Assets (b) Current and Deferred Tax Assets (Net) (c) Other non-financial assets Total Assets LIABILITIES Financial Liabilities (a) Trade Payables (b) Borrowings (c) Other financial liabilities Non-Financial Liabilities (a) Current & Deferred tax liabilities (Net) (b) Provisions (c) Other non-financial liabilities Networth Dec'23 Mar'23 90,603 54,911 1,549 2,261 19,742 11,533 1,213 1,095 7,661 1,862 A AngelOne 3,233 2,482 261 17 Augmentation of technology assets in 9M '24 782 1,25,044 617 74,777 75,121 40,715 17,387 7,872 3,891 3,879 91 115 211 163 480 417 27,863 21,616 28 Total Liabilities and Equity TTM EPS: 125.7 9M FY24 EPS: * 93.7 1,25,044 Book Value: 331.9 as on Dec 31, 2023 74,777 (1) Other trade receivables includes only non-interest bearing receivables (2) Client funding book includes period ending trade receivables (net of non-interest bearing receivables) and loans for margin trading facility (3) Fixed assets include investment property, property, plant & equipment, capital work in progress, intangible assets under development, intangible assets and right to use assets (4) Networth includes equity share capital and other equity (5) EPS is calculated as Profit after tax from continuing operations / weighted average number of equity shares (6) Book value is calculated as period ending networth / period ending number of equity shares Great Place To Work Certified PE2023-PB224#30Table Of Contents 29 29 Q3'24 Highlights Business Model Angel's Advantage Industry Landscape Financial Overview About Us !!! Annexures * AngelOne Great Place To Work Certified PE2023-PB224#3130 Board Of Directors A AngelOne Great Place To Work Certified PE2023-PB224 Dinesh Thakkar Chairman and Managing Director Promoter of Angel Group Veteran in capital markets with over 3 decades of experience Revolutionised stock broking for retail clients Muralidharan Ramachandran Independent Director 35+ years experience in technology companies like TCS, Satyam Computer, Epicenter Technologies, Transworks Information Services, Syntel/Atos in multiple C-level roles Currently, vCIO with Startek, a global BPM company Independent consultant facilitating start ups & enterprises in their transformation phase and leveraging digital technologies Strong technology and cyber security experience NT Arunkumar Independent Director B.Sc. (Math & Statistics) and PGDPM&IR (MBA) . 30+ years of global experience across banking & financial services, technology, telecom & consumer products • Contributor to the "Digital India" initiative in 2017-18 • Strategic advisor to Boards of large . • businesses specializing in Digital Transformation, new technologies (AI/ML/Blockchain) & developing Future Skills Expertise in change management and leading & scaling diverse, globally distributed teams Designer & advisor of Analytics and Cyber Security and IT Strategy . • • Krishna lyer Mala Todarwal Independent Director 17+ years experience Fellow member of ICAI, an active partner of M/s. Arun Todarwal & Associates LLP and on the boards of Group Companies of Welspun and IVP Ltd Strong domain knowledge of statutory audit, management assurance, management and systems audit, etc. Facilitates strengthening of corporate governance structure and controls & processes to assess and mitigate risks Non-Executive Director 25+ years of global IT experience Co-founder and former CEO at Go- Live Faster, a QA and predictive analytics tech company Investor & director in companies and NGOs in India & the USA Conducts culture & leadership transformation journey's for major corporates, billion-dollar companies & leading startups Creator of transformational products, programs & simulations used in several countries • • Krishnaswamy Sridhar Independent Director Fellow member of ICAI, B.Sc (Physics) 37+ yrs exp in Fin., Inv. Mgnt; Credit, Debt, Equity; Project Fin.; Fintech; Business Strategy Former Exec. Dir & CIO UTI AMC, MD & CEO UTI International, Singapore, Dir. AMFI Held board level positions in Fin. Insti., Mfg. Cos. & Offshore Fund Cos. registered in Singapore, Mauritius & Guernsey Conceptualized, designed & executed IT sys. & process automation for Inv. Mgnt. Actively participates in discussions on Inv. Mgnt. reg., sys. & software for MF/Ins. Industry Ketan Shah Whole-time Director 28+ years of overall experience Having in depth understanding about Business, Technology & Operations Kalyan Prasath Independent Director B.Sc., DSM, DBA with 35+ yrs exp. in Business Tech. across APAC Delivered significant tech.-based solns. to improve productivity, scalability & optimize cost Expertise in IT Strategy; Tech. implementation to meet business & reg. requirements; IT, Info. Security & Data Leakage Prevention; IT Governance & Risk Mgnt. Sitting as an Independent expert in Technology Committee in several Mutual Funds as per SEBI regulations Amit Majumdar Whole time Director Chartered Accountant with 2+ decades of experience in business leadership and strategy Expertise in driving business growth, expansion, profitability Held executive positions with Healthspring, AGS Transact Technologies, Angel One Past assignments with EY, Cho Hung Bank, Rabo India, Ambit Corp. Finance#3231 Experienced Management Team (1/2) A AngelOne Great Place To Work Certified PE2023-FEB 2324 Dinesh Thakkar Managing Director Promoter of Angel Group • Veteran in capital markets with over 3 decades of experience ⚫Revolutionised stock broking for retail clients Vineet Agrawal CFO C.A., C.S., C.M.A • 27+ yrs exp. across multiple industries, 8+ yrs at Angel One • Heads Treasury, Corp. Fin., Secretarial, Accounts, Reporting & Controlling, Tax, Audit, IR and CSR •Worked at Secure Meters, Suzlon Energy, Bharti Airtel & Reliance Communications Amit Majumdar ED-Strategic Initiatives C.A. with 2+ decades of experience across Financial Services, Payments, Health Tech and Management Consulting • Held executive positions in AGS Transact Technologies Ltd, Healthspring, Angel One Leads strategic initiatives for organic and inorganic growth Ravish Sinha CPTO ⚫N.I.T., Karnataka Computer Science 2+ decades of exp., with leadership role at Flipkart and Yahoo • Expertise in product, tech strategy, software architecture, design & development with proficiency in Data Platforms, Advertising, Consumer Internet, Business Intelligence & Web Technologies Jyotiswarup Raiturkar CTO MS - Illinois Tech, Tech NIT Nagpur Comp. Science, NTSE AIR 9 20+ yrs experience in building tech products & global teams Leads tech development and engineering •Worked with Walmart Labs', Intuit, Goibibo, Samsung Research and Microsoft Ankit Rastogi CPO B.E. (Computer Engineering)- Gold Medalist, NIT Surat •20+ yrs experience in Entrepreneurship, Product Management, Scaling Online Adoptions & Digital Growth ⚫Leadership roles at Makemytrip, Cleartrip, Stayzilla & Goibibo Prateek Mehta CBO Direct Business IIT-B, MBA - IIM-A 20+ yrs in building & creating value at Startups & Fortune 50 Companies, with 12+ yrs in fintech & consumer internet businesses like Tata Digital, Scripbox/ Upwardly, Myntra, Zovi in Exec. roles Built & scaled large businesses, Expertise in Growth, Product, Marketing, Brand, Rev. Nishant Jain CBO Assisted Business • EDP - IIM-B ⚫Held senior leadership positions with Coca-Cola, PepsiCo, Zomato & BharatPe Instrumental in delivering scale and growth at Zomato and BharatPe Brings a unique blend of offline and online business exposure & product first thinking Prabhakar Tiwari CGO MBA IIM-B, Marketing Gold Medalist; Mech Engg Topper ⚫21+ yrs of total experience, ~5 years at Angel One Scaling Angel One's growth - leading Sales, Marketing, Digital Transformation & Strategic Alliances Impactful leadership stints with PayU, Marico, CEAT Ketan Shah CSO Bachelor in Commerce • 28+ years of total experience, 22+ years at Angel One •Worked in different functions including Business, Technology & Ops. ⚫Leads revenue function, customer engagement & service, B2B business, research & advisory and strategy for the organisation#3332 Experienced Management Team (2/2) Deepak Chandani CDO ⚫ IIT BHU •25+ yrs of extensive knowledge & deep understanding of the transformative potential of data & technology •Worked with Infosys, Apple Inc, AppDirect, Global Logic, Teradata, UBS, & British Petroleum • Recognised as Top 100 Data & Analytics leaders by CDO magazine • Oversees data & analytics strategy Devender Kumar Head Online Revenue ⚫MBA-IIM-B, B.E. (Hons) - NSIT 15+ yrs of total experience, 10+ yrs at Angel One Built & led various functions including revenue, product, online marketing, sales, technology, analytics, strategy, and data science •Worked with Motilal Oswal, Yahoo! Anuprita Daga Group CISO B.E., MBA (Information Management) 25+ yrs experience in information security and data privacy •Expertise in security transformation, architecture, defining & driving security strategy, data privacy, risk quantification & compliance with various global regulatory guidelines •Worked with Yes Bank, Reliance Group, Kotak Bhavin Parekh Head-Ops., Risk & Surveillance ⚫MBA - NMIMS •25+ yrs of total experience, 23+ years at Angel One •Extensive understanding of the BFSI sector •Worked across multiple functions - Operations, Risk Management, Business, Product and Customer Support Dr. Pravin Bathe CL&CO Ph.D. (Banking & Fin.), MBA (Fin), MBA (Mktg), MA (Eco.), LLB •22+ yrs experience in Capital Markets Heads Compliance and Legal Strong exposure to Compliance & Risk Management in Capital Market •Worked with SEBI, Edelweiss and Citigroup Hemen Bhatia CEO-Asset Management • M.M.S (Fin.) • 17+ yrs of experience in the Asset Management business Has been a pivotal member of numerous industry and regulatory committees, notably contributing to the evolution of ETF and index fund markets in India •Worked with Nippon AMC, Goldman Sachs Asset Mgnt., Benchmark AMC Subhash Menon CHRO Doctorate in Management Studies (DMS), MHRDM - NMIMS, BSC. • 23+ yrs experience, ~8 yrs at Angel One •Develops and implements HR processes and employee skill development, knowledge & productivity enhancement •Worked with IndiaFirst Life, SBI Life and USV Mehul Dama CIO-Asset Management C.A., B.Com - Mumbai University •19+ yrs experience across fin. services & Big 4 accounting firms, 14+ yrs experience in asset management Portfolio management of exchange traded funds/index funds •Worked with Nippon AMC, Goldman Sachs Asset Mgnt., Benchmark AMC and PwC Great Place A AngelOne To Work Certified Saurabh Agarwal Chief of New Business - PE2023-FEB 2324 B.Tech Comp. Sc., IIT-KGP, MBA - IIM-L 13+ yrs of leadership exp. across Lehman Brothers, IIFL Wealth, Housing.com and Incred Led disruptive business and product teams across successful consumer tech companies to create significant value#34People Practices & Social Empowerment Great Place Best Companies To Work For Robust Employee Engagement Best Workplaces™ in Fintech Best Workplaces™ in BFSI Best Workplaces™ for Millennials Best Workplaces™ for Women Angel's CSR Programmes To WorkⓇ Certified Great Place Great Place To INDIA FEB 2023 - FEB 2024 Work To Work INDIA Great Place To Great Place Great Place To Work. 2023 2023 INDIA 2023 Work. INDIA 2023 To Work.. INDIA 2023 Skilling and placement of youth Digital and Financial Literacy INDIA A AngelOne Social Empowerment By AngelOne Maharashtra Rajasthan Gujarat Karnataka Delhi Andhra Pradesh 33 Great Place to Work Ranked 52nd in Top 100 Best Companies to work for in India Listed among India's Top 100 Best Workplaces for Millennials India's best workplaces in Fintech for the 2nd consecutive year ✓ Culture audit score of 4.4 out of 5 on people practices ✓ Trust Index score of 90 based on the survey Diversity Equity & Inclusion ✓ Onboarded talent from LGBT community & focused hiring for diverse talent ✓ Championing learning opportunities for women through Jombay's Women Leaders Program ✓ Listed among Top 100 India's top 100 Best Workplaces to Work for Women Initiated & onboarded Angelites using anonymous hiring technique Leadership Development 'Evolve' program to nurture budding leaders to take on futuristic roles Recognised among 'Top 50 Companies with Great Managers in India' for 2023 by People Business Wellness Launched enhanced Medical benefits under 'Angel Care+' providing Insurance cover for mental well-being, fertility, gender re-affirmation, surrogacy and similar inclusive benefits Angel Dost offering counseling and wellness services to all Angelites & their families TRRAIN Shram Sarathi Partner Non-Profit Organisations NIITA 20 NIIT FOUNDATION + Present across 300+ villages KSWA S YUVA PARIVARTAN Raah aajeevika bureau + 37 exclusively sponsored Livelihood Development Centers Delhi-NCR, Maharashtra, Rajasthan and Gujarat + Skilling programs for persons suffering from speech, hearing and vision impairment + 14,000+ beneficiaries impacted through Financial and Digital Literacy Training Programme in Maharashtra and Rajasthan + 1,000+ members signed up for insurance schemes like Pradhan Mantri Jeevan Bima Yojna and Pradhan Mantri Suraksha Bima Yojna in Rajasthan + 7,000+ youth successfully placed in formal sector employment in Maharashtra, Rajasthan and Gujarat Great Place To Work Certified PE2023-FEB 2324#3534 Awards & Accolades (expleo) QUAN TIC 平内 BRONZE SmartAPI- INKSPELL nn Tech 2021 <SmartAPI> A AngelOne Technology Best Customer Centric Culture in Fintech hosted by expleo organised by Quantic at 2nd Annual Excellence Awards 2023 Recognition for being amongst India's Best Workplaces in Fintech by Great Place to Work Bronze for SmartAPI in the Trading and Exchange cateogry for the 'Launch of a disruptive product' at the ET Brand Disruption Awards'22 Best Technology Provider for Financial Technology-SmartAPI at InnTech Awards 2021 by Inkspell BSE BSE Industry * AngelOne Marketing Best Performer in Equity Derivatives b (Retail) 2023-24 by BSE ACEF Asian Leaders Award 2023 - Best Video Content for BFSI, Best Brand Packaging for BFSI and Grand Prix Award for Best Content Strategy Gold Winner at ImageXX Award 2023 by Adgully for BFSI Service Best Customer Experience in Service Sector by Zendesk at The Customer Fest Leadership Awards 2023 BRAND STORYZ Best performer in the Equity Retail Segment 2022 by BSE MARTECH Winner APPSFLYER Gold Gold for Marketing analytics at MarTech India Awards by E4M FORTUNE THE NEXT 508 Recognised with Rising Star for outstanding growth in the year, among The Next 500 Companies 2022 by Fortune India TEFFECT Silver for Product Re-Launch Category for SuperApp Campaign at ET Brand Equity Digiplus Awards 2023 Bronze for Best Branded Podcast at AFAQS BrandStoryz Awards for 'Har Stock Kuch Kehta Hai' Gold for Best Video Content for our YouTube Channel at DMA Asia Echo Awards 2023 YouTube Golden Play Button Great Place To Work Certified PE2023-PB224#3655 35 Table Of Contents Q3'24 Highlights Business Model Angel's Advantage Industry Landscape Financial Overview About Us Annexures * AngelOne Great Place To Work Certified PE2023-PB224#37Proposed Group Restructuring: Preparing To Play The Long-Term Strategy A AngelOne Angel Securities Ltd. Assisted Business (Proposed) Proposed Group Structure A AngelOne Common Tech & Product Development & Infra. (Super App) Broking: Assisted Business Broking: Direct Clients Lead Generation Angel Crest Ltd. Direct Clients Business (Proposed) Angel Financial Advisors Pvt. Ltd. Distribution of Insurance products Angel One Asset Management Company Ltd AMC business Focused On Fostering Growth Enhance Competence Becoming Future Ready Operational Efficiency Better Synergies 36 Business retained by Parent entity Angel One Trustee Ltd Trustee company for AMC business Angel One Wealth Management Ltd. Wealth Management Mutual Fund Distribution AMC Sponsor Mimansa Angel Fincap Pvt. Ltd. NBFC Software Sysstems Pvt. Ltd. Software consultancy 100% subsidiaries Angel Digitech Pvt. Ltd. Business support services ✓ Businesses have differentiated strategies and growth trajectory ✓ Optimize management bandwidth, while building a more efficient organizational structure ✓ Holding company will house technology & product development, data analytics, facility management, lead generation and other shared services ✓ No change in consolidated financials ✓ No change in dividend policy Great Place To Work Certified PE2023-PB224#3837 52 Robust Client Additions (Mn) 5.0 +188% India: Incremental Demat Accounts 14.3 +142% 34.6 -28% 24.8 24.8 +341% 0.5 FY20 FY21 FY22 FY23 9M '24 FY20 Share in incremental demat accounts = Angel's Incremental Client Base / Incremental Demat Accounts opened in India (CDSL+NSDL) for each period 11% Angel: Incremental Client Base 2.3 FY21 +121% 5.1 FY22 -10% 4.6 * AngelOne FY23 5.7 (Mn) 9M '24 Angel's market share in incremental demat accounts in India 18% 16% 15% 23% Great Place To Work Certified PE2023-PB224#3938 38 Source: NSE Angel Gaining Market Share In NSE Active Client Base Expanding Market Share In NSE Active Client Base 505 bps Expansion In Market Share 14.3% 14.6% 14.8% 13.1% 12.0% 11.2% 9.7% 10.1% 10.6% Q3'22 04'22 Q1'23 4th Q2'23 Q3'23 04'23 Angel One's Ranking In Incremental NSE Active Clients Q1'24 Q2'24 Q3'24 2nd 2nd 2nd 2nd 2nd 2nd 2nd 54 3rd Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Angel is amongst the few players adding to its NSE active client base, while the industry de-grew Great Place A AngelOne To Work Certified PE2023-PB224#4039 Order Volumes Are Key Revenue Driver 180 Trend Of Orders 263 249 230 226 211 207 350 338 (Mn) * AngelOne Angel One's NSE Active Client Base 5.3 4.9 4.4 4.2 4.2 4.3 4.0 3.7 3.1 Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Source: NSE (Mn) Great Place To Work Certified PE2023-PB224 3rd 4th 4th 4th 3rd 3rd 3rd 3rd 3rd Angel's Rank#41FinTech Model Successfully Weathering Market Volatility Angel's Average Daily Orders Increased In 22 Out Of 27 Instances, Where Either Index Corrected By >5% Over The Last 57 Months A AngelOne Period # of Trading Days Fall In Nifty 50 Fall In Nifty MidCap 150 Fall In Nifty Bank Change in Angel's Avg Orders 18 Apr 15 May, 2019 17 -5.3% -8.2% -6.3% 0.8% 04 Jun 19 Jun, 2019 11 -3.3% -5.1% -4.1% -2.8% 05 Jul 05 Aug, 2019 22 -9.1% -11.7% -12.1% 3.5% 24 Sep 07 Oct, 2019 9 -4.1% -6.1% -9.2% 3.4% 03 Jan 01 Feb, 2020 22 -5.1% 1.3% -8.1% 11.2% 12 Feb - 23 Mar, 2020 27 -37.1% -38.3% -46.0% 18.8% 30 Mar 03 Apr, 2020 4 -6.7% -3.0% -13.6% 5.5% 04 May 18 May, 2020 11 -10.5% -7.7% -18.4% 2.8% 08 Jul 15 Jul, 2020 6 -1.7% -2.7% -5.7% 2.5% 24 Jul 03 Aug, 2020 7 -2.9% -0.4% -8.7% 1.1% Implementation of 31 Aug 24 Sep, 2020 19 -7.2% -6.8% -16.6% -3.1% pledge mechanism 15 Jan 29 Jan, 2021 10 -6.6% -5.4% -6.0% 10.9% 16 Feb 26 Feb, 2021 9 -5.1% 0.8% -6.7% 7.8% 04 Mar 12 Apr, 2021 25 -6.1% -5.1% -15.3% 2.1% 19 Oct 30 Nov, 2021 29 -8.1% -8.1% -10.1% 10.1% 09 Dec 20 Dec, 2021 8 -4.9% -5.6% -7.6% -1.2% 13 Jan 24 Jan, 2022 8 -5.8% -7.1% -4.6% 14.8% 03 Feb 24 Feb, 2022 16 -8.6% -13.1% -10.4% 4.7% 28 Feb 07 Mar, 2022 5 -4.8% -3.9% -9.8% 2.1% 05 Apr 13 May, 2022 26 -12.6% -11.2% -14.3% 3.1% 31 May 17 Jun, 2022 14 -8.2% -7.9% -8.6% -7.3% 14 Sep 29 Sep, 2022 12 -6.9% -6.2% -7.9% 17.1% 02 Dec 23 Dec 2022 16 -5.3% -6.6% -3.7% 11.5% 04 Jan 27 Jan 2023 17 -3.4% -4.6% -7.1% 4.3% 17 Feb 24 Mar 2023 25 -6.0% -4.4% -5.4% 4.4% 21 July 18 Aug 2023 20 -3.3% 2.9% -5.1% 2.0% 40 18 Sep 26 Oct 2023 26 -6.6% -6.0% -8.5% -0.2% 40 % Change in Angel's Avg. Daily Orders (Avg. Daily Orders for the period of fall in either Nifty 50, Nifty Midcap 150 or Nifty Bank)/(Avg. Daily Orders in preceding 20 trading days) Number of trading days also include days of positive return by index Great Place To Work Certified PE2023-PB224#42Retail ADTO Market Share Across Segments Overall Equity Market Share (%) * AngelOne 20.9% 21.0% 20.8% 21.7% 21.5% 22.8% 24.5% 26.2% 26.8% 1.3x Growth Q3'22 04'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 F&O Market Share (%) 20.9% 21.1% 20.8% 21.7% 21.6% 22.8% 24.6% 26.2% 26.9% 1.3x Growth 03'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Cash Market Share (%) 15.1% 14.2% 13.9% 13.9% 13.8% 14.0% 13.3% 13.4% 12.3% 1.1x Growth Q3 '22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Commodity Market Share (%) 51.1% 52.4% 55.2% 56.9% 56.6% 58.8% 42.2% 44.6% 36.4% 1.6x Growth Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 41 Market Share is the ratio of Angel ADTO divided by Retail ADTO of NSE and BSE for overall equity, cash and F&O segments and MCX for commodity segment Q1'24 onwards overall equity and cash segment market share are now being calculated considering the retail turnover data shared by NSE, whereas market share computation for F&O segment is same as before. 04'23 Q1'24 Q2'24 Q3'24 Great Place To Work Certified PE2023-PB224#43FinTech Business Drives Multifold Increase In Client Activity Flat Fee Dominates Overall ADTO Great Place A AngelOne To Work Certified PE2023-PB224 3% 2% 3% 2% 1% Traditional Plan -------- 99% Flat Fee Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 Q2'24 Q3'24 Strong Growth In Overall ADTO Overall ADTO ( Bn) No of Orders (Mn) 338 350 263 249 230 211 226 207 >1.3x faster 180 ADTO growth 35,971 29,621 than industry 22,726 9.5mn Peak orders handled in Q3'24, 18,488 6,946 8,627 9,398 12,168 14,478 Q3'22 04'22 Q1'23 Q2'23 Q3'23 04'23 Q1'24 in a single trading session Q2'24 Q3'24 42 44 Growth is calculated for Q3 '24 over Q3'22 ADTO 5.2x Growth Orders 1.9x Growth#4443 51 46 59 59 39 57 57 48 39 36 27 Client Activity: Number Of Orders & ADTO 48 44 37 52 88 47 Cash Segment 99 62 62 F&O Segment Cash ADTO (Bn) No. Of Orders (Mn) F&O ADTO ( Bn) No. Of Orders (Mn) Commodity ADTO ( Bn) No. Of Orders (Mn) 74 264 262 33 6,764 116 8,393 9,183 173 172 153 147 11,885 215 199 14,136 18,159 22,349 29,185 35,519 99 5 4 6 8 Commodity Segment 12 11 10 CO 9 246 289 337 97 105 02'23 150 Q3 '23 181 04'23 189 Q1'24 Q2'24 Q3'24 14 * AngelOne Great Place To Work Certified PE2023-PB224#4544 Company: Investor Relations Advisors: * AngelOne * AngelOne Angel One Ltd. CIN L67120MH1996PLC101709 Mr. Hitul Gutka - Head IR Email Id [email protected] www.angelone.in SGA Strategic Growth Advisors Strategic Growth Advisors Pvt. Ltd. CIN U74140MH2010PTC204285 Mr. Shogun Jain / Mr. Shrikant Sangani [email protected]/[email protected] +91 77383 77756 / +91 96195 95686 www.sgapl.net Great Place To Work Certified PE2023-PB224