Creating Value For Your Investments - Monarch Networth Capital Limited

1. CREATING VALUE FOR YOUR INVESTMENTS

2. WHO ARE WE? Monarch Networth Capital Limited (MNCL) is one of the leading financial services companies in India. With over 25 years of experience in capital markets, MNCL’s clear focus is to create value for its stakeholders MNCL STRENGTH Retail Broking (Equities, Commodities & Currencies) Headquartered in Ahmedabad, Gujarat Global Access Employee base of 400+ Institutional Equities Retail client base of 2.6+ lakh 60+ branches Fund Management 450+ business partners* Investment Banking Wealth & Distribution *Business partners refers to sub-brokers/Authorized Persons

3. A TESTAMENT TO OUR VALUE CREATION 15%+ returns1, since inception on our niche Option Strategy that focuses on margin of safety 50%+ increase in Active Retail Clients in last 1 year Multiple success stories across our Institutional Equities business Top-quartile performance by our Maiden Fund - AIF We promote a culture of entrepreneurship among all our employees Through our Institutional Equities business, we have created a strong connect with 150+ corporates and several asset managers/investment houses “Creating value for customers is our credo and motto and is based on the Outcome of our ability to add value through differentiated work pillar of in-depth research” Our recent accolades: Awarded as Top Performer in OFS segment by BSE for FY19-20

4. WHAT MAKES US UNIQUE? GROWTH FOCUS RELIANCE ON RESEARCH ENTREPRENEURSHIP through consistent value-addition in employees across all verticals for all our capital market activities MNCL acts as a bridge for all capital market needs, throughout a corporate business’ journey We mainly cover unique ideas with a deep-dive study Creating client delight across retail, institutional and corporate is our foundational goal We recommend based on safety margin and strong return potential 360° value addition is our goal, not a transactional relationship Division heads empowered to add value to clients Fund management a long-term strategy with primacy on corporate governance Multi-year engagements built through trust and delivery of value-creation Professionally managed with regular guidance from promoters Niche Option Strategy proposition focuses on margin of safety, while delivering double digit returns

5. MAJOR ACCOMPLISHMENTS Retail Business Expanding our reach Wealth & Third Party Distribution Diversifying clients’ wealth Institutional Equities Marrying businesses 1 2 3 Wealth products across asset classes catering to diverse set of clients Collaborative effort with corporates throughout their business life-cycle 50%+ increase in active client base, in the past one year 90%+ increase in digital transactions in past one year Option Strategy, a low-risk derivatives-hedged product, with no negative return month till date Bridging gaps between the Intrinsic Value of businesses vs. prevailing market value In-depth research on stocks along with our bottom-up approach makes investors tag us for reliability

6. MAJOR ACCOMPLISHMENTS Investment Banking We are trusted partners Monarch AIF Our maiden fund 4 5 Top quartile among best performing AIFs Sole banker to Alembic Pharmas’ INR 750 cr QIP Stellar fund performance against Nifty within same period Advisor to KEI Industries’ INR 500 cr QIP Strong testament to our talent and processes Advisor to Adani Total Gas’ SAS transaction of INR 5,152 cr Sole Banker to Adani Green Energy OFS of INR 778 cr (in two tranches)

7. OUR BUSINESSES Retail Broking (Equities, Commodities & Currencies) Global Access Institutional Equities Fund Management Investment Banking Wealth & Distribution

8. RETAIL BROKING

9. OUR OFFERINGS Equities & Derivatives Trading WHY CHOOSE US? Digital onboarding via e-KYC Digital Account Opening Wide array of products across asset classes ETF, OFS, FFO, SGB etc. Superior investing experience via DIY platforms across Web, App & EXE RETAIL Commodity Trading Strong in-house research capabilities BROKING Client centric approach with a clear Currency Futures focus to create value for all stakeholders Awarded Best Regional Retail Broker by Research NSE in 2018 E-IPO

10. GLOBAL ACCESS Invest in US Markets with ease

11. KEY FEATURES: Portfolio diversification Access to new growth opportunities Overview Enhanced performance MNCL Global Access offers an advanced platform to invest in US Markets Create a nest-egg Global Access not only allows investors to diversify their portfolio but also provides them opportunity to leverage a highly-evolved US market by investing in popular global brands & businesses that offer superior growth opportunities WHY MNCL? With Global Access, investors can invest in some high growth companies2like Netflix, Facebook, Apple, Alphabet, Tesla etc. Digital onboarding Safe & secure Own shares, in fractions No minimum investment Thematic investments via Stacks 2Company names are used for illustration purpose only

12. INSTITUTIONAL EQUITIES Overview & Success Stories

13. OUR OFFERINGS TYPE OF REPORTS INITIATING COVERAGE This is how we create value, for all stakeholders Showcasing niche and thinly covered businesses with analysts’ unique perspectives THEMATIC REPORTS Strong focus on mid & small-cap stocks Only or among few covering the companies and hence primary port-of-call for our clients COMPANY UPDATES Research team adds significant value to the covered companies’ managements through insights - building trust, fostering multi-year relationships SECTOR REPORTS Catering to diverse set of institutional clients like mutual funds, insurance, foreign portfolio investors, private equity and wealth managers INVESTMENT IDEAS

14. INSTITUTIONAL EQUITIES –SUCCESS STORIES Stock Name Why we liked the business Valuation mismatch MNCL’s value-addition High entry barrier business Single digit valuation multiples at entry First and the only broker covering it Leadership positioning of TML & lowest CoP High double-digit earnings growth in store Strong management access Great track record, great BS, superb return ratios Stock generated 120% returns since coverage in 10 months Best-in-class management quality & growth capex funded through internal accruals At initiation, it was trading at ~20x FY22 PER Highest potential volume growth of ~6.5x on FY20, 3x the nearest peer First and the only broker covering it Strong management access Strong volumes led earnings growth visibility Most efficient player with best-in-class opex and gas sourcing Stock up 13x since coverage in 1 year Only private-MNC play in CGD Highest R&D spender in India which led to robust product pipeline Was available at 13x PE (FY22E) vs peers at >18x Got right on the contrarian call on US business Potential for US shortages / new capex was under-appreciated by consensus Depth of coverage helped us to be the sole managers to INR 750 cr QIP US business grew by 40% CAGR during FY15-20 when peers were decelerating Capex into complex generics (INR 30 bn.)

15. INSTITUTIONAL EQUITIES –SUCCESS STORIES Stock Name Why we liked the business Valuation mismatch MNCL’s value-addition Largest domestic capacity of synthetic leather Was available at a low P/E valuation of ~10x FY22E IC estimates In-depth research on peers especially international ones Foray into PU leather manufacturing which is ~90% imported into India Greater focus on high-end auto OEMs was being missed Strong management access New foreign client additions like Mercedes, Volkswagen and BMW Stock up ~68% since coverage Consistently high cash-flow generating business across cycles Traded at single digit valuations across all multiples First and the only broker covering it Strong management access Huge investments were made for cost savings and growth through internal accruals Return ratios were set to expand materially led by new projects Stock up ~80% within 5 months of coverage Strong growth prospects ahead Duopolistic nature of business with entry barriers Undiscovered sector Comprehensive study of the business model and comparison with its (unlisted) peer Superior business model, high margins Strong revenue/earnings catalyst for re-rating Study on global depository models Respectable return ratios, sustainable ROE could well be higher Dividend discount model to assess possible value Stock up ~117% since coverage

16. INSTITUTIONAL EQUITIES Some Highlight Performers Reco Date: 19-10-2020 Reco Date: 29-06-2019 Reco Price: INR 1275 Reco Price: INR 256 Prev Close*: INR 2064 Prev Close*: INR 502 Returns: 61.9% Returns: 96.2% Nifty Returns: 31.4% Nifty Returns: 32.6% Reco Date: 08-01-2021 Reco Date: 06-05-2020 Reco Price: INR 140 Reco Price: INR 97 Prev Close*: : INR 285 Prev Close*: INR 855 Returns: 103.2% Returns: 778.3% Nifty Returns: 9.0% Nifty Returns: 68.6% Reco Date: 18-03-2021 Reco Date: 06-07-2020 Reco Price: INR 266 Reco Price: INR 492 Prev Close*: INR 566 Prev Close*: INR 1273 Returns: 112.9% Returns: 158.7% Nifty Returns: 7.4% Nifty Returns: 45.2% MNCL one of few houses covering these stocks. Through research-backed analysis, most of our ideas have beaten Nifty *As on 20thJuly, 2021

17. FUND MANAGEMENT Alternative Investment Fund (AIF) Managed by Monarch AIF Trust

18. ALTERNATIVE INVESTMENT FUND Performance 53.3% abs. returns3against Nifty returns of 32.7% in the same period Fund USPs Closed ended fund with differentiated strategy Fund Goal Multicap focus with concentrated portfolio positioning Performance driven fee structure Delivering high absolute returns Investing in limited number of high conviction stocks Significantly higher than benchmark index returns

19. SNAPSHOT OF MONARCH AIF’s MAIDEN FUND MNCL CAPITAL COMPOUNDER FUND FUND INVESTMENT STRATEGY Sponsored by MNCL and registered with SEBI Focus on cash flow compounding Cat 3 AIF long-only equity fund Leadership position in products/services Value added investment strategy aligned to investors’ long-term goals Focus on high incremental return generating businesses 3 years term, extendable by 2 years Emphasis on under-researched and under-owned businesses Valuations done on EV/OCF multiples and cash flow discounting method with adequate margin of safety

20. INVESTMENT BANKING

21. THE MONARCH STRENGTH VALUE CREATION ENHANCING CAPITAL MARKET VISIBILITY Our focused approach has helped develop strong corporate relationships Comprehensive research reports and marketing Strong connect with leading domestic MFs, Insurances, AIFs, PMS and PE clients MNCL group has 150 strong corporate connects which have lasted several years Gradual inroads into the APAC region Key objective to follow non-transactional approach of getting the right price for our clients

22. OUR OFFERINGS Equity Fund Raise Valuation Private Equity Share Valuation Brand Valuation IPOs/FPOs ESOP Valuation QIPs/Private Placement Fairness Opinion Rights Issue Valuation for Tax/FEMA Provision Corporate Actions M&A Buy Back Buy Side/Sell Side Joint Venture Delisting Strategic Deals/Tie-Ups Open Offer Cross Border (Inbound/Outbound) Deals

23. INVESTMENT BANKING TRANSACTIONS MARQUEE TRANSACTIONS Sole banker to Alembic Pharmas’ INR 750 cr QIP Initial Public Offerings (IPO) Advisor to Adani Total Gas’ SAS transaction of INR 5,152 cr Osia Hypermart – 26thMarch’19 Strong testament to our relationships Bombay Super – 17thApril’18 Sole banker to Adani Green Energy’ INR 778 cr OFS (in two-tranches) INR 120+ cr of IPO on SME platform Advisor to KEI Industries’ INR 500 cr QIP Identified business at early stage; INR 5 bn+ of secondary market transactions Identify businesses at early stage of growth. Work closely with promoters / key shareholders in their journey towards wealth creation

24. WEALTH & THIRD-PARTY PRODUCT DISTRIBUTION

25. OPTION STRATEGY 15.8% cumulative annualized returns1as on 24thJune’21 3.00% Key objective is to consistently generate market agnostic annualized returns of 14%-16% 2.60% 2.20% 2.12% Emphasis on risk management over returns. Decent returns for a low-risk product 2.00% 1.87% 1.53% 1.63% 1.54% 1.50% 1.62%1.56% 1.28% 1.49%1.52% 1.40% 1.22% 1.14% 1.07% 1.00%1.02% Since inception in Nov’19, has generated positive returns with no instance of drawdown 1.00% 0.91% Underwriting risk by selling options and follow strict risk management norms 0.00% Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20 Oct 20 Nov 20 Dec 20 Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Absolute Returns (%) “Excellent returns considering low levels of risk”

26. WEALTH & DISTRIBUTION

27. OFFERING HOLISTIC WEALTH CREATION MNCL offers a wide array of multi-asset based financial solutions that offers investment, protection and growth to our valued clients and help them achieve sustainable long-term wealth creation to fulfil their life goals INSURANCE Life & Non-life MUTUAL FUNDS Proprietary fund evaluation helps in deploying quantitative and qualitative parameters Need-based insurance advisory to our clientele Bridging gaps of uncertainties through systematic and wide range of Life Insurance plans Creating model portfolios to maximize risk-adjusted returns in real time through Equity MF, Debt MF & Debt-Equity mix Providing low-cost Health Insurance plans Periodic portfolio reviews to optimize returns Wide range of General Insurance plans, including: Motor | Travel | Housing | Critical Illness Building long-term corpus through SIPs to provide benefits of compounding

28. OFFERING HOLISTIC WEALTH CREATION FINANCIAL PLANNING FIXED INCOME Corporate FDs MNCL offers variety of corporate fixed deposits with varying interest rates, tenures, credit quality and maturity Provide strategic financial planning to accommodate your life milestones, at each stage, while enabling you to fulfil your aspirations Solution-Oriented Bonds MNCL offers wide range of bonds catering to diverse investment needs. Investors can invest in Tax Free bonds, 54EC bonds, NCDs or taxable bonds etc Improving your financial portfolio with our easy-to- comprehend, research-backed and transparent advisory Sovereign Gold Bonds With MNCL, investors can invest in SGBs that offer good returns at negligible cost and comes with a sovereign guarantee

29. Looking forward to partner with you in your journey to “VALUE CREATION”

30. Thank You Email: reachus@mnclgroup.com Website: www.mnclgroup.com Toll Free: 1800 22 0223 Monarch Networth Capital Limited (hereinafter MNCL) Registered Address: Unit No. PO4-01D, 4thFloor, Tower A, WTC Gift City, Block No. 51, Road 5E, Zone – 5, Gift City, Gandhinagar – 382355, Gujarat. Website: www.mnclgroup.com | Contact Details: (T) 079- 26666500/6600500 | (E) reachus@mnclgroup.com. Registration Numbers: NSE Member ID: 06386 | BSE Member ID: 197 | SEBI Reg – INZ000008037 | MCX Member ID: 10585 | NCDEX Member ID: 00011 | AMFI Reg ARN: 8812 | Research Analyst No.: INH000000644 | PFRDA Registration Number: POP 06092018 Disclaimer: Investments in securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit. The securities quoted are exemplary and are not recommendatory. Past returns are not indicative of future results. Investment in Mutual Funds are subject to market risks. Insurance is subject matter of solicitation. MNCL is a distributor of third part products like MF, Corp FDs, Insurance (Life/Non-life), Bonds etc.1Option Strategy related disclaimer: Return calculation has been done on average fund utilized (weighted average). Monthly return calculation is done for expiry period. Brokerage cost is excluded from Gross Premium; however penal interest (on short in required margin_ and charges other than brokerage cost, are not excluded from realized/MTM P&L. Returns mentioned are calculated only for the trades advised under option strategy product. Past performance doesn’t guarantee future returns; please read disclaimer and risk factors carefully on: https://bit.ly/3xRFiXZ.3AIF related disclaimer: i) MNCL Capital Compounder Fund (SEBI Registration no. IN/AIF3/20-21/0787) is the maiden long only Cat 3 AIF Equity Fund of Monarch AIF which in turn is sponsored by Monarch Networth Capital Ltd., ii) Fund inception date is 23rd Oct, 2020, and AIF returns are from 23rdOct, 2020 to 20thJuly, 2021, iii) Returns are net of fees and transaction costs and includes dividend income but are on pre-tax basis, iv) Nifty50 TRI returns on pre-tax basis during the same period stood at 32.7%. Version: V1-20/07/21