Investor Presentation August 2023

CONSISTENT DELIVERY LEADING TO STRONG Total Sales Motorcycle Volumes ('000) CASH ACCRUALS Total Revenue from operations EBITDA and Margin 29.6% 23.8% 23.8% 20.4% 21.1% 823 698 609 595 824 9,797 9,154 8,720 10,298 14,442 2,903 2,178 1,781 2,172 3,444 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 PAT Net Cash OCF 80 80 67 61 49 107 2,203 1,827 1,347 1,677 2,914 5,830 6,762 FY19 FY20 FY21 FY22 FY23 Mar-19 Mar-20 7,756 Mar-21 8,433 10,274 Mar-22 Mar-23 PAT - EPS INVESTOR PRESENTATION August 2023 Net Cash Cash and cash equivalent - Total debt 1,575 1,694 1,714 1,572 2,847 FY19 FY20 FY21 FY22 FY23 All figures are in INR Crs unless specified 69

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