TVS Motor Company Ltd

Purpose and Precision for Progress

Dear Shareholders,

This year has been a landmark year for TVS Motor Company, marking a transformative chapter in our journey toward excellence and reflecting our ongoing dedication to sustainable and aspirational mobility solutions internationally.

TVSM continues our growth, delivering solutions that are guided by our vision; to transform quality of life by making mobility exciting, responsible, sustainable, and safe.

As the mobility sector undergoes profound shifts, we will continue to seize this moment and take the opportunity to lead through innovation. Our products reflect the integration of advanced technology, innovation and thoughtful design, delivering mobility experiences that are trusted, intuitive, and engaging.

TVSM remains unwavering in our commitment to leave a positive impact across generations, by bringing the best of India to the rest of the world.

TVSM continues to grow its presence, with a physical network of over 8,000 dealers covering more than 3,800 cities in India and 4,000 cities globally.

FY 2024-25 showcased TVSM's strongest performance to date, with 4.7 million units sold—a remarkable 13% growth on FY 2023-24. Of note, 2W exports grew significantly by 22.8%, reaching 1.09 million units, led by Africa and Latin America's strong performance.

In addition, and as part of building an accessible ecosystem to enable more people to move, our subsidiary, TVS Credit Services Limited, served more than 19 million customers in India. PBT for the year grew by a strong 35% to H 1,025 crore against last year H 762 crore.

One of the key milestones in our global journey will be the launch of our iconic British brand, Norton, in Q3 FY 2025-26 in the UK, India, and key European markets k to further capitalise on the growing demand for premium I and desirable mobility brands.

These results and milestones reflect our global ambition L to serve customers across continents with a unique

international workforce and local Indian expertise, driving a competitive, challenger-mindset.

Our focus on quality is an expression of our belief that trust is built through consistency and attention to every detail across people, processes, and products. This commitment ensures every product and service delivers exceptional reliability, safety, comfort, and performance that exceeds expectations.

Our dedication to operational excellence and continuous improvement has earned TVSM significant industry recognition. In a landmark achievement, all our manufacturing plants in India were awarded Level 4 of the prestigious TPM Advanced Special Award. With this, TVSM became the first two-wheeler manufacturer in India to receive this distinction across all its factories - a testament to our industry-leading standards in product quality, operational efficiency, and rigorous TPM practices.

Our focus on quality is also validated by independent benchmarks like the J.D. Power 2025 India TwoWheeler Study, where TVSM outperformed compared to the industry average. This consistent outperformance reinforces our position as a quality leader and reflects the trust and satisfaction of our customers worldwide.

Our most valued asset remains our people.

Our success over the past decade reflects the passion, integrity, and purpose with which our teams operate - across factories, service centres, research units and boardrooms. We continue to invest in talent development, embrace diversity, and build future-ready skills. Over the years, women have come to represent nearly 20% of our workforce.

We are especially proud of the long tenure of many individuals who have been with us for up to three decades, exemplifying the strength of our culture and commitment to our people.

Environment, Social, and Governance (ESG) principles are woven into our business strategy. On the environmental front, we continued to make strong

progress towards our decarbonisation goals.

In FY 2024-25, we reduced carbon emissions by 13.6%, sourced 95.3% of our energy from renewables, and recycled 17,854 million tonnes of industrial waste.

In addition to investment into decarbonisation and expanding our operations in the EV segment, TVSM undertakes other sustainability initiatives, including the TVS Greening Minds programme, which integrates environmental stewardship into TVS' operations.

Srinivasan Services Trust, our social impact arm, t enriches lives as an integral part of TVS.

Our commitment to social responsibility extends our social impact arm to become more than a helping hand; it is at the heart of TVS, driving our business forward with the same philosophy and momentum.

Our focus is on sustainable impact for long-lasting change to break generational poverty, and create self-reliant, thriving communities.

Srinivasan Services Trust has transformed over 2,500 villages through robust community infrastructure, education, and health initiatives.

TVS' guiding values emphasise trust, integrity, and service to the community, ensuring that TVS actions align with the commitment to societal well-being and sustainable development.

I extend my heartfelt gratitude to the leadership team, employee union, employees, partners and all stakeholders for the unwavering support and trust in TVSM this year. Your confidence in our vision has been instrumental in driving remarkable success, despite global uncertainty.

Guided by our core values, we are confident of our ability to shape the next chapter of global mobility with purpose and precision.

Regards,