Source: PIB, Bloomberg, KIE Research, KMAMC Internal | Data as on March 31, 2026. Details as per latest publicly availaible data.

The information contained in this document is extracted from different public sources / KMAMC internal research, and includes statements/opinions which contain words or phrases such as “will”, “believe”, “expect” and similar expressions or variations of such expressions that are forward‑looking statements. Actual results may differ materially from those suggested by the forward‑looking statements due to risks or uncertainties associated with the statements mentioned, with respect to but not limited to exposure to market risks, general economic and political conditions in India and other countries globally which may have an impact on services/investments, the monetary and interest policies of India, inflation, deflation, and unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, etc.

All reasonable care has been taken to ensure that the information contained herein is not misleading or untrue at the time of publication. This is for the information of the person to whom it is provided, without any liability whatsoever on the part of KMAMC or any associated companies or any employee thereof, and should not be considered as a recommendation of any kind. Investors may consult their financial advisors and/or tax advisors before making any investment decision. Past performance may or may not be sustained in future, and investors should make any investment decision post considering their risk appetite. KMAMC / Kotak Mutual Fund is not guaranteeing or promising any future returns/performance. These materials are not intended for distribution to or use by any person in any jurisdiction where such distribution would be contrary to local law or regulation, and the distribution of this document in certain jurisdictions may be restricted or totally prohibited; accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions.

The stocks/sectors mentioned do not constitute any kind of recommendation and are for informational purposes only. Kotak Mahindra Mutual Fund may or may not hold a position in the mentioned stock(s)/sector(s). 1. Kotak Mahindra Asset Management Company Limited (KAMAMC) is not guaranteeing or promising any returns/futuristic returns.

These materials are not intended for distribution to or use by any person in any jurisdiction where such distribution would be contrary to local law or regulation. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions.

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