Cash Deployment Strategy & Value Creation

ACCELERATED TRAJECTORY PAT'02* (Rs. Cr.) PAT'23* (Rs. Cr.) CAGR 1,290 Auto 41 18% (Core Auto 2,620 Cr**) 30 3,950 26% Farm Services (IT, Financial, Logistics, (5) Holidays, Real Estate, Etc.) 5,042 ++ Why Services? Brand, Governance premium, Synergies with Core, Market reach and Talent ~ Significant value creation of Rs 47K Crover last 20 years Positioned to capitalize on macro trends driving growth in India (& globally) * After Exceptional Items after Non-Controlling Interest ^ PAT after El for continuing operations Core Auto here refers to consolidated Auto PAT before El. El items such as write-off in trucks and buses division, exit in PMTC result in 1,330 Cr reduction in Auto PAT for F23. 9

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