Investor Presentation August 2023

OPPORTUNITY - DOMESTIC MARKET Rising Income The expansion of the middle class and high-income segments will 5,000.00 4,000.00 3,000,00 US$ 4,063 India Opportunity reshape future 2,000.00 US$ 1,336 consumption and drive incremental 1,000.00 consumption of US$ 4 trillion by 2030 0.00 2019 2030f Per Capita GDP Source: World Economic Forum - Future of Consumption in Fast-Growth Consumer Markets: INDIA, 2019, FICCI; CBRE Research, Q2 2019 India's favorable demographics By 2031, the working age population i.e. 20-59 years is poised to increase by 300 bps Source: Economic Survey 2019-20 INVESTOR PRESENTATION August 2023 2 Wheeler: 21M Market- Motorcycles: 13.5 M >125cc: 3.2M 100.0% 9.7% 12.4% 75.0% 60+ years 20-59 years 0-19 years Royal Enfield's Customer Base* 18-25 26-35 Over 35 55.8% 58.8% 50.0% Attracting a younger set of customers with our new launches. 28% 31% 25.0% 34.5% 28.8% 0.0% 2021 Population by age cohort 2031 *Data for FY2023 41% 19

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