CFSL Annual Report 2024

Building bridges to brighter futures 2024 Annual Report

DEAR SHAREHOLDERS, The Board of Directors is pleased to present the Annual Report of CIM Financial Services Ltd for the year ended 30 September 2024. This report was approved by the Board on 16 December 2024. Independent Director & Chairperson Executive Director & Group Chief Executive Officer Aïsha C. Timol Tioumitra (Ambrish) Maharahaje 2

About this Report Reporting Boundary and Scope This annual report aims to offer a comprehensive and connected overview of CIM Financial Services Ltd’s (‘CFSL’) performance covering the period 1 October 2023 to 30 September 2024. Any material events after this date, and up to the date of approval of this report, have also been included. We report on the primary activities of CFSL and its subsidiaries, collectively referred to as ‘Cim Finance’ or ‘the Group’ throughout the report. Our report extends beyond financial information and also includes information about our business model, strategy, operational performances, risks and opportunities, stakeholder relationships and corporate governance practices to give stakeholders a more well-rounded view of how we create value. Theme of this Report Through life’s defining moments – when it matters most – Cim Finance is there. From the smallest victories, to the greatest milestones, Cim Finance is there. We do not just provide solutions – we offer a lifeline; a steady hand to guide you. A way to overcome challenges, look beyond obstacles, and believe in the possibilities ahead. Suddenly, no ambition seems too bold, no aspiration too distant. Everything we do works seamlessly together to support you at every stage of life. Each effort, each connection, comes together to form a greater whole – a system of trust and empowerment to help you take the next step forward. This foundation gives you the freedom to dream bigger, push further, and achieve what once felt out of reach. With the right partner, progress has no limits. 3 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Reporting Principles The preparation of this report is guided by several international and local frameworks, including: • The International Financial Reporting Standards (IFRS) • The International Integrated Reporting Council (IIRC) • International <IR> Framework • The National Code of Corporate Governance 2016 • The Mauritian Companies Act 2001 • The United Nations’ Sustainable Development Goals (UN SDGs) FINANCIAL CAPITAL RELATIONSHIP CAPITAL HUMAN CAPITAL MANUFACTURED CAPITAL INTELLECTUAL CAPITAL SOCIAL & NATURAL CAPITAL 4

Forward-looking Statements We aim to ensure that our report is meaningful to our readers and offers the material information that allows them to effectively assess Cim Finance’s ability to sustain value over the short, medium and long term. However, it contains certain statements regarding the Group’s performance, financial standing and future prospects based on the information available to us at the time of publication. These statements are inherently subject to risks and uncertainties that are beyond our control and do not guarantee future performance or outcomes. Investors and readers are advised to exercise caution and not place undue reliance on these projections. Feedback and Comments We are committed to improving our reporting practices and highly value your input in helping us better serve our stakeholders. We welcome any feedback and suggestions you may have and encourage you to share them with us at [email protected]. 5 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Table of Contents STRATEGY & PERFORMANCE Our Strategic Plan 46 Business Review 48 Human Capital Report 53 Environmental and Social Report 62 LEADERSHIP Interview with the Chairperson 26 Board of Directors 28 Insights from the Group CEO 34 Senior Executive Team 36 GROUP OVERVIEW Cim Finance at a Glance 12 Our Activities 12 Our Purpose-Driven Approach 13 Our Milestones 14 Value Creation Model 16 What We Do 18 Stakeholder Engagement 20 Financial Highlights 24 Consolidated Value Added Statement 25 INTRODUCTION About This Report 3 Theme of This Report 3 Reporting Principles 4 Group Structure 8 6

RISK MANAGEMENT REPORT Risk Management Report 76 CORPORATE GOVERNANCE REPORT Corporate Governance Report 94 STATUTORY DISCLOSURES Other Statutory Disclosures 106 Directors’ Report 107 Secretary’s Certificate 108 Statement of Compliance 109 FINANCIAL STATEMENTS Independent Auditors’ Report 112 Financial Statements 116 Directors of Subsidiary Companies 214 7 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

CIM INTERNATIONAL HOLDINGS LTD 100% 40% LI & FUNG (MAURITIUS) LTD 100% CIM CSR FUND LTD 100% CIM ADMINISTRATORS LTD 100% CIM LEARNING CENTRE LTD 75% LOINETTE CAPITAL LIMITED 30.51% FUNDKISS TECHNOLOGIES LIMITED Group Structure as at 30 September 2024 CIM Financial Services Ltd Note: Excluding dormant companies and companies under liquidation. 8

100% CIM KENYA LTD 100% CIM CREDIT KENYA LIMITED 100% CIM INSURANCE AGENCY LTD 100% KEY FINANCIAL SERVICES LTD 100% THE OCEANIC TRUST CO. LTD 9 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Making life’s moments simple, effortless and enjoyable. 10

By making important purchases possible, we transform dreams into reality, easing life’s complexities and creating space to celebrate successes and joys. With each step forward, confidence grows, making the journey ahead feel effortless. 11 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Cim Finance At A Glance Male27% Female 73% Counters Sub-Offices Merchants 100+ 9 700 276,000+ Clients 906 Permanent Employees Our Touchpoints Consumer Finance Factoring Leasing POS Services SME Loans Insurance Ecommerce Service Credit Cards Our activities WhatsApp for Business 12

Our Purpose-Driven Approach We firmly believe that all Mauritians deserve a level playing field and the freedom to build a better future for themselves. Driven by this purpose, Cim Finance develops innovative products and flexible financing solutions designed to meet the various needs of individual and corporate consumers and enhance their financial wellbeing. Through our agile and customer-centred approach, we help households finance everyday purchases that improve their quality of life; we empower entrepreneurs to start, grow and sustain their businesses; we partner with SMEs so they can fulfil their role as powerful engines of growth and employment; and we strive to help underserved communities break free of their financial constraints. In rising to achieve our mission, we have established ourselves as a reliable alternative to traditional lenders and as the leading non-banking financial institution in the country. OUR BRAND PILLARS Our brand pillars guide us in all that we do and help us build authentic and trusting relationships with our employees, customers, partners and community members. LEADING EDGE We remain at the forefront of a fast-changing world by harnessing digital technologies and nurturing a growth mindset that values continuous learning and improvement above all. CARING We care about building a world in which everyone has access to the things they need. We vow to be warm, transparent and supportive as we guide you on your path to financial freedom. CONNECTED We operate as one team, one Cim, as we strive to help you meet your financial obligations. We break down the silos and bring together our various teams, areas of expertise and ideas so we can focus on offering you the best solution and the best experience. AGILE We understand that your financial needs are constantly changing. As your trusted financial partner, we adapt our solutions to your unique circumstances and grant you greater flexibility and freedom over your spending. 13 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Our Milestones 1987 Introduction of Hire Purchase/ Retail Credit activities 1996 One of the pioneering Non-Banking Financial Institutions (NBFI) 2004 Launch of Recourse Factoring 2005 The first NBFI in sub-Saharan Africa to receive the MasterCard accreditation 2018 Launch of Travel Loan (Cim Voyage) 2006 Launch of Non-Recourse Factoring 2016 Launch of Cim Fidelity Card (MoKart) 2019 Launch of International Factoring 2020 Launch of MoFinans and Web Portal 14

2024 Reached the MUR 1bn profit mark 2008 Launch of Credit Cards & Acquiring activities for Mastercard 2010 Started Debit & Credit Card Acquiring activities for VISA 2011 Launch of VISA Credit Cards: Classic, Gold & Business 2014 Launch of UPI 2015 Launch of Personal Loans (Cim MoCrédit) 2021 Launch of WhatsApp for Business 2022 • Launch of Green Lease • Investment in Fundkiss • Launch of Green Funding Programme • Acquisition of Tsusho Capital (Mauritius) Limited 2023 New Investment in Loinette Capital Limited 15 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

OUR DIVERSIFIED ACTIVITIES ARE GUIDED BY A CLEAR STRATEGIC PLAN FINANCIAL CAPITAL Strategic management of shareholders’ equity and debt, and disciplined financial management to drive growth, maintain financial stability and generate dividends. HUMAN CAPITAL The collective know-how, skills and knowledge of our 1,000+ employees, through continuous investments in training, development and wellbeing. INTELLECTUAL CAPITAL Our proprietary processes and scorecard, mobile apps, innovation capacity and relationships that lend us a competitive advantage. RELATIONSHIP CAPITAL Mutually beneficial relationships with our partners, network of merchants, suppliers and customers, rooted in trust and respect. MANUFACTURED CAPITAL Our portfolio of assets, including our network of counters and buildings, increasingly moving towards Leadership in Energy and Environmental Design (LEED) standards. SOCIAL & NATURAL CAPITAL Strong relationships with community members and NGOs, the responsible use of resources and integration of sustainable practices to minimise our carbon emissions and contribute positively to society. CAPITAL INPUTS Value Creation Model Consumer Finance Factoring Leasing Credit Cards OUR ACTIVITIES ENSURE WE EXECUTE OUR STRATEGIC ROADMAP UNDERPINNED BY SOUND GOVERNANCE AND RISK MANAGEMENT PRACTICES To deliver on our purpose of levelling the playing field for all Mauritians, ensuring they have the freedom to build a better future for themselves. 16

FINANCIAL CAPITAL • Increased turnover and highest profit after tax recorded in spite of volatile macroeconomic environment. • Increased dividends distributed. HUMAN CAPITAL • Collaborative and high-performing teams. • Engaged and productive employees. • A work culture that valorises diversity, equity and inclusion. RELATIONSHIP CAPITAL • Growth in SME businesses, driven by personalised service, Noubiznes network and the newly introduced Booster Programme. • Long-term supplier and partner relationships. MANUFACTURED CAPITAL • Cost and energy savings through the pursuit of Leadership in Energy and Environmental Design (LEED) certification. • Well-maintained and increasingly green buildings. SOCIAL & NATURAL CAPITAL • A leading group in sustainable finance through the Green Bond and responsible lending practices. • Reduction in energy, water and waste consumption. • A caring partner to NGOs and communities, with targeted plans for positive impact. OUTPUTS AND OUTCOMES INTELLECTUAL CAPITAL • Streamlined processes and operations. • Highest payment acquirer in Mauritius on Instant Payment System (IPS). • Omnichannel solutions/services • Customer satisfaction. • Well-known brand and strong reputation. POS Services SME Loans Ecommerce Service Insurance Drive Business Growth and Scale Improve Operational Excellence Optimise and stabilise workforce 17 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

OUR SERVICES DESCRIPTION STRENGTHS ACTIVITY What We Do • Access to 700+ approved partners across Mauritius, with 9 sub-offices. • Streamlined application process. • Multi-sector financing solution, supporting a wide range of industries, including manufacturing, trading, services, and advertising. • Export factoring capabilities. • Real-time client portal. • In-house presence at partners to accelerate the process. • A Green Lease was designed to support the purchase of environmentally friendly vehicles/ equipment. • Integration with other payment systems, allowing customers seamless access to their funds. • Exclusive rewards and loyalty programmes, including a 1% cashback initiative. Factoring A solution that helps businesses manage their cash flow and improve their working capital by converting their outstanding invoices (or accounts receivable) into immediate cash. Leasing An affordable solution allowing individuals and businesses to acquire vehicles or equipment through periodic instalments, without large upfront costs. Credit Cards Credit cards offer individuals and businesses with the flexibility to manage their expenses, allowing for easier payment tracking, access to short-term credit and improved maintenance of their cash flow. Flexible financing solution to help individuals break down the cost of their purchases (consumer goods, electronics, and other household necessities) into convenient monthly instalments, tailored to their needs. Consumer Finance 18

• Fast and secure way to authorise transactions, with merchant bank accounts credited directly to banks. • Dynamic QR Codes are integrated in traditional POS machines, enabling transactions from other bank apps, with merchants receiving real-time confirmation. • Access to resources, mentoring and networking opportunities through Noubiznes. • A dedicated team of professionals to support customers. • Strong data protection and compliance with global security standards. • Partnering with trusted insurance companies to offer protection on credit purchases and motor insurance through Cim Finance. POS Service Our Point of Sale (POS) terminals make it easy for merchants/ service providers to accept card payments at their physical location, enhancing customer convenience and streamlining business transactions. SME Loans Tailored financial solutions specifically designed for small and medium enterprises, providing funding for their expansion, upgrade of equipment or even day-to-day operations. Ecommerce Service Online payment gateway that seamlessly integrates with online retail platforms, offering secure digital transactions for customers, and tools for merchants to monitor their online sales in real time. Insurance Tailored insurance offering financial protection to individuals against unforeseen events or liabilities. 19 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

SHAREHOLDERS EMPLOYEES Stakeholder Engagement We aim to create and deliver long-term value for our shareholders and investors, who provide the essential capital needed for our growth and enduring success. Our people are the backbone of our business, driving innovation, customer satisfaction and efficiency. Their needs and expectations • Sustained profitability • Dividends distribution and sustainable shareholder value • Compliance with relevant laws and regulations • Strong governance and risk management practices • A competent Board and leadership team • Environmental and social responsibility Their needs and expectations • Fair remuneration • A safe and supportive work environment • Career advancement opportunities • Learning and development • A fulfilling job • Rewards and recognition • Ethical leadership Our response • Timely and transparent communication on the Company’s financial position • Adherence to laws and regulations • Strong internal controls • Improved ESG communication and disclosures • A diverse Board and executive team with relevant capabilities • Establishment of an ESG sub-committee Our response • Market-aligned compensation and benefits • Continuous investments in training and development for skill enhancement at all levels • A holistic wellbeing programme • Flexible work arrangements, where applicable • Emphasis on Diversity, Equity and Inclusion (DEI) • Annual Moment of Recognition programme How we engage How we engage » Annual report » Annual Meeting of Shareholders (AMS) » Investors’ briefings » Press communiqués » ‘Investors corner’ section on the Group website » Quarterly unaudited financial statements » Internal communication and task management platform » Townhall meetings » Workshops and training sessions » Ad hoc meetings and gatherings » Team-building events » Internal newsletter » Annual employee engagement survey » Performance reviews ESG Report page 62 | Corporate Governance Report page 94 | Financial Statements page 116 Human Capital Report page 53 20

CLIENTS AND CUSTOMERS REGULATORS AND THE GOVERNMENT (Individuals, SMEs and Corporations) Their needs and expectations • Easy access to financial services and facilities • Quick and transparent processing • A positive customer experience and personalised service • Prompt resolution of complaints • Trust • Data privacy • Environmental and social responsibility Their needs and expectations • Sustained profitability • Dividends distribution and sustainable shareholder value • A clear growth strategy • Compliance with relevant laws and regulations • A diverse and competent Board and leadership team • Environmental and social contributions that align with national goals Our response • Omnichannel delivery of services (digital channels and in-branch interactions) • Flexible financing solutions, tailored to customer needs • Continuous review of products/solutions to reflect evolving needs • Investments in technology to streamline processing and approval times • Emphasis on data security and privacy • A Green Bond to finance sustainable projects Our response • Frequent updates on the Company’s financial position • Adherence to laws and regulations • Improved ESG communication and disclosures • Appointment of new independent Directors with relevant skill sets • Establishment of an ESG sub-committee • Listing of green bonds on the SEM How we engage How we engage Clients drive our revenue and growth. Their feedback shapes our products, services and strategies, helping us maintain our competitiveness. Regulators provide the frameworks and standards within which we operate. Compliance is crucial to maintain a sustainable business and foster trust. » Customer surveys » Focus groups » Group website and social media platforms » Press communiqués » Email and the mobile App » Call centres and customer hotlines » Roadshows » Annual report » Annual Meeting of Shareholders (AMS) » Investors’ briefings » Press communiqués » ‘Investors corner’ section on the Group website » Quarterly unaudited financial statements » Meetings Business Review page 48 | ESG Report page 62 ESG Report page 62 | Corporate Governance Report page 94 | Financial Statements page 116 21 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Stakeholder Engagement (continued) SUPPLIERS SOCIETY AT LARGE Our key partners that contribute to efficiency and reliability in providing services, allowing Cim Finance to deliver value to its customers. Society forms the broader environment in which Cim Finance operates. The wellbeing of our community contributes to a stable country and business ecosystem. Their needs and expectations • Fair payment terms • Consistent demand • Reliable partnerships • Transparent procurement and tender processes • Responsible business conduct • Transparency on requirements, timelines, and potential challenges Their needs and expectations • Community support • Financial inclusion • Job creation • Responsible and ethical business conduct • Environmental stewardship Our response • Clear communication regarding procurement needs • Timely payments • Encouragement of sustainable practices in supply chain management • Regular updates and clear communication on orders, timelines, and changes • Providing fair, transparent, and mutually beneficial contract negotiations • Ensuring suppliers understand and meet regulatory and quality standards Our response • Continuous investments and engagement in CSR activities, focusing on education, financial literacy and environmental projects • Close collaboration with NGOs • Tailored financial products that cater to underserved communities • Community-building and empowerment (Cité CIM) How we engage How we engage » Ongoing meetings, calls, and emails to ensure alignment on expectations, timelines, and quality standards. » Periodic assessments of supplier performance, quality, and compliance. » Clear and transparent negotiations for mutually beneficial terms and conditions. » Opportunities for feedback on processes, quality, and collaboration. » Press communiqués » Social media platforms » Website » Volunteering and active involvement in CSR activities » Events » Collaborating with NGOs and other social organisations to address societal challenges » ACE graduate programme and the Capability Academy » Participation in external events Human Capital Report page 53 | ESG Report page 62 | Corporate Governance Report page 94 22

Wellness Activities of the Year Prioritising health and wellbeing at work Electrocardiogram (ECG) Screening: We organised ECG screenings and heart health awareness sessions, encouraging employees to monitor and prioritise their cardiac health. Blood donation: Our annual blood donation event at Cim House showcased the generosity of our employees, making a life-saving impact and strengthening our commitment to community support. Eye testing: A free eye-testing session empowered employees to prioritise their vision. Breast & prostate cancer screenings: Free breast and prostate cancer screenings were offered at Cim House, promoting early detection, prevention, and overall health in the workplace. 23 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Financial Highlights as at 30 September 2024 NET OPERATING INCOME TOTAL ASSETS GROUP PROFIT AFTER TAX RETURN ON EQUITY NET ASSET VALUE PER SHARE DIVIDEND PER SHARE 14 % 19 % 15 % 18.5 % MUR 9.30 MUR 0.59 TO REACH MUR 3,333.1bn (2023: MUR 2,915.6m) TO REACH MUR 25,623m (2023: MUR 21,583m) TO REACH MUR 1,107m (2023: MUR 961m) (2023: MUR 8.23) (2023: 18.2%) (2023: MUR 0.42) EARNINGS PER SHARE SHARE PRICE DIVIDEND YIELD MUR 1.62 MUR 11.90 5.0 % (2023: MUR 1.41) (2023: MUR 11.00) (2023: 3.8%) 24

Consolidated Value Added Statement GROUP September 2024 September 2023 MUR m % MUR m % Value Added Statement Income 3,333 2,916 Bought-in materials & services (86) (268) Total value added 3,247 2,648 Applied as follows: EMPLOYEES Wages, salaries, bonuses, pensions & other benefits 902 28 748 28 GOVERNMENT Income Tax 203 6 166 6 PROVIDERS OF CAPITAL Dividends paid to Shareholders of CIM Financial Services Ltd 402 12 286 11 Interest expense paid to Banks and Lenders 817 25 579 22 1,219 37 865 33 REINVESTED Depreciation 171 5 158 6 Amortisation 46 1 36 1 Retained Profit 706 23 675 26 923 29 869 33 3,247 100 2,648 100 MUR M 902 Employees 203 Government 1,219 Providers of Capital 865 923 Reinvested 869 748 166 September 2024 September 2023 25 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Independent Director & Chairperson Aïsha C. Timol Interview with the Chairperson 26

What were the key performance highlights for Cim Finance over the past year? This year has been a milestone in Cim Finance’s journey, defined by reaching the MUR 1bn profit mark – a symbol of our collective efforts and strategic direction. Despite the challenges of previous years, our traditional businesses in consumer finance and leasing have continued to deliver strong results, reaffirming our role as a partner of choice for businesses and individuals. This achievement has also reinforced a sense of pride and shared accomplishment among our teams, inspiring us to push further in driving financial inclusion and supporting economic progress. Cim Finance recently experienced a leadership transition. Could you provide some insight into how the company is navigating this change? Our leadership transition reflects the stability and continuity valued at Cim Finance, with Ambrish Maharahaje, a trusted in-house leader, stepping into the role of Group CEO in April 2024. Having served as Group Chief Operating Officer since 2019, Ambrish has been a key figure in strengthening the foundations of our business. His appointment reflects our confidence in homegrown leadership, ensuring the continuation of a strategy carefully built over the years. On behalf of the Board, I congratulate Ambrish on this well-deserved appointment and look forward to the progress we will achieve together under his leadership. How do you view the evolution of the financial services industry? Rapid advancements in technology, a competitive labour market, and rising sustainability imperatives are guiding the evolution of the financial services industry, requiring agility and continuous innovation. Cim Finance is well-geared to navigate these shifts, both financially and operationally. We have been proactive in advancing our digital strategy, embedding responsible practices in our operations, and fostering an environment that motivates and retains talent. How is Cim Finance positioned to adapt to this landscape? Our governance framework, designed to be dynamic and future-ready, has been strengthened significantly to support these IT- and people-related risks and transformations. This year, we appointed Mrs Jenny Chan to the Board, bringing valuable IT expertise to strengthen our digital backbone. We also formed an IT & Digitalisation Committee to ensure proactive and effective technology integration. Complementing these efforts, we further consolidated the leadership team in key areas such as Human Resources and Sustainability by bringing in seasoned professionals to drive progress. The diversity of our Board of Directors, and their eagerness to deepen their understanding of complex issues, further strengthens our ability to approach issues with a broad and informed perspective. This year, training on key topics such as cybersecurity, sustainability, and AML/CFT was a priority, ensuring all Board members have the necessary skills and controls to address emerging challenges. The recent acquisition of Loinette has opened up prospects for growth in East, Southern, and West Africa, particularly in leasing. While expansion in this region presents its own complexities, we believe it is an avenue worth exploring with experienced teams in place and carefully aligned partnerships. While our operations in Kenya have encountered some challenges, we are still refining our approach and drawing on our learnings to find the right path forward. These past years have been uncertain, but we have remained steadfast in our commitment to delivering shareholder value, as evidenced in the increased dividends distributed this year. Looking ahead, we will continue to do everything in our remit to ensure our shareholders see meaningful returns on their trust. You mentioned that the financial services sector is facing labour challenges, likely to intensify in the year ahead. How is Cim Finance addressing this? The labour market is indeed increasingly challenging, with rising costs, talent shortages and heightened competition for skilled professionals – particularly acute in the financial services sector. At Cim Finance, our caring approach underpins everything we do, ensuring we prioritise the needs and aspirations of our workforce. In addition to the many engagement and retention initiatives outlined in the Human Capital Report (page 53), we extended the Employee Share Options Scheme (ESOS) to include senior managers, determined to recognise the contributions of our teams and nurture a culture where our people feel valued and fulfilled. In line with our ‘Phygital’ strategy, we are also increasingly adopting digital technologies to streamline operations, enhance productivity, and fill workforce gaps. How is Cim Finance driving social impact and advancing its environmental agenda? Sustainability and inclusivity are central to our mission and business model. Cim Finance’s business is deeply rooted in the Mauritian economy, with a strong focus on retail and SME financing to serve the needs of the mass market. This focus reflects who we are – a business born to serve people, facilitating their progress at key stages of their life, from purchasing their first car to starting a business, or even supporting life’s unexpected expenses. We have expanded our support to SMEs through Fundkiss and Noubiznes, providing entrepreneurs with resources and opportunities to scale. Housing and education remain key focus areas in our community-driven activities. Our Cité CIM project has already helped numerous families by providing safe and stable housing, allowing them to take an active role in shaping their futures. Additionally, inspired by our work with Ecole Renganaden Seeneevassen, we are initiating an educationfocused project in Rodrigues to empower the youth in underserved communities to create better opportunities for themselves. The past year also marked genuine progress toward elevating sustainability as a central priority. A dedicated ESG sub-committee, chaired by a Board member, was established to ensure alignment between policies and their practical implementation. Our green bond, an industry first, has been highly successful, driving demand for green loans and sustainable products, and paving the way for further impact in sustainable finance. What are Cim Finance’s prospects looking ahead? The year ahead is filled with opportunities to strengthen Cim Finance’s position. Building on solid foundations in consumer finance and leasing, we are now focused on consolidating our operations in Mauritius, leveraging the acquisition of Loinette, and expanding our footprint across the region. I would like to express my deepest appreciation to our shareholders for their continued confidence, to our Board of Directors for their steadfast guidance, and to our team members for their dedication in navigating a pivotal year. With our growing engagement in ESG principles, and with continued support from all our stakeholders, we are committed to supporting the broader economic development of the country and the region, striving to make financial growth as accessible as possible, and remaining a positive force for the society we represent. 27 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Board of Directors Aïsha C. Timol – G.O.S.K​ INDEPENDENT DIRECTOR AND CHAIRPERSON Committees Member of the Corporate Governance and Conduct Review Committee and of the Board Investment Committee. Experience​ Aïsha C. Timol holds various academic qualifications, notably from the University of St Andrews in Scotland, Université d’Aix Marseille in France, and the Institute of Social Studies of The Hague, Netherlands. Before her appointment in her current role as Independent Director and Chairperson of CFSL in July 2020, she led Cim Finance Ltd (CFL) as Chairperson from April 2018 until its amalgamation into CFSL in October 2020. Aïsha has over four decades of experience spanning the public sector, private industry, and academia. In the public sector, she held directorial roles at the Ministry of Finance and Ministry of Financial Services, providing her with a strong foundation and experience in economic and financial management and governance. She also contributed to the private sector as the CEO of the Mauritius Bankers Association, and to academia as a Senior Lecturer at the University of Mauritius. Today, Aïsha continues her involvement in governance and board matters, serving as a fellow member and consultant with the Mauritius Institute of Directors, and holding board positions with domestic and international entities. Expertise​ Corporate Governance and Compliance (private and public sectors), Strategic Leadership, Banking and Financial Services, Economic and Budgetary Policies, Academia and Education. Directorship in other listed companies: CIEL Limited Ambrish Maharahaje​ GROUP CEO AND EXECUTIVE DIRECTOR Committees Member of the Risk Management Committee, Member of the Corporate Governance and Conduct Review Committee, Member of the ESG sub-committee, Member of the IT & Digitalisation Committee and Member of the Board Investment Committee. Experience​ Ambrish Maharahaje was appointed as Group CEO and Executive Director of CFSL in April 2024, following his tenure as Interim Group CEO from January 2024. He has served as Chief Operating Officer of the Group since December 2019, contributing significantly to the operational efficiency of the Group. A seasoned executive with a career spanning over 20 years, Ambrish brings a wealth of leadership expertise to the Group. Prior to joining Cim Group, Ambrish held prominent roles including Corporate Manager for Legal Compliance at Rogers and Company Limited and Executive Secretary at the Mauritius Institute of Directors. These positions equipped him with a diverse set of skill sets that have shaped his strategic vision for CFSL, enabling him to effectively guide the Group forward. Ambrish holds a BSc in Management from the University of Mauritius and is an Associate of The Chartered Governance Institute, further underscoring his commitment to effective governance practices. Expertise​ Strategic and Operational Leadership, Corporate Governance, Risk Management, Compliance, Legal Advisory, Operational Efficiency. Directorship in other listed companies: None 28

Jenny (Lee Min) Chan Ah Song INDEPENDENT DIRECTOR Committees Member of the Risk Management Committee, Member of the Corporate Governance and Conduct Review Committee, and Member of the IT & Digitalisation Committee. Experience​ Jenny Chan Ah Song currently serves as the Managing Director of Astek Mauritius, specialising in digital services and transformation. She is also the President of OTAM, an association for businesses in the ICT/BPO industry. She holds a BCom in Business Information Systems from the University of the Witwatersrand, South Africa, and several professional certifications. Jenny brings over 30 years of experience in the IT industry. She began her professional journey with a four-year tenure in South Africa before returning to Mauritius to further establish herself in the ICT field. Over her career, she has worked across multiple sectors, including Textiles, Manufacturing, Insurance, Logistics and ICT/BPO, bringing invaluable contributions to the Mauritian ICT landscape. Expertise​ Strategic Leadership, IT and Digital Transformation, Process and Change Management, Talent and Organisational Management, Governance. Directorship in other listed companies: None Louis Amédée Darga​ NON-EXECUTIVE DIRECTOR Committees Chairperson of the IT & Digitalisation Committee, Member of the Audit and Compliance Committee, and Member of the Board Investment Committee. Experience​ Louis Amédée Darga has a long and rich career combining public sector management experience, private sector involvement, and business experience, as well as academic and applied political economy research. He is a Fellow of the Royal Society of Arts (FRSA) U.K. and the Chairperson of the Mauritius Africa Business Club. He is also the Managing Partner of StraConsult, a management and economic development consulting firm, and the National Partner of Afrobarometer for Mauritius. Amédée served as the Chairperson of Enterprise Mauritius until December 2014. Additionally, he is an Honorary Fellow of the Institute of Engineers in Mauritius and a Fellow of the Mauritius Institute of Directors. A former member of parliament and Minister in Mauritius, he also served as the Mayor of Curepipe. He has been an active member of the African Association of Political Science since 1977, and is a former executive member. From 2005 to 2011, he served as a Member of the Bureau of the Committee on Human Development and Civil Society of the U.N. Economic Commission for Africa. Expertise​ Strategic Economic Development, Political Economy, African Affairs, Economic and Public Governance, Public Policy. Directorship in other listed companies: None 29 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Denis Motet​ INDEPENDENT DIRECTOR Committees Chairperson of the Risk Management Committee, Member of the Audit and Compliance Committee, and Member of the IT & Digitalisation Committee. Experience​ Denis Motet was appointed as an Independent Director of CFSL in July 2020. Prior to that, he held the position of Chairperson of the Risk Management Committee of Cim Finance Ltd, a wholly owned subsidiary of CFSL, for two years until its amalgamation with and into CFSL on 1 October 2020. Before his early retirement in 2015, Denis held the role of Chief Risk Officer of The Mauritius Commercial Bank Ltd, overseeing Credit Management, Credit Risk, Information Risk Management, Market Risk, Operational Risk, and Security & Recovery. Prior to this, he worked in various divisions within the MCB Group, including in International, Corporate and Credit Risk, as well as in its overseas subsidiaries in Mozambique and Seychelles. Denis holds a ‘BTS Action Commerciale’ and a ‘Diplôme d’Enseignement Supérieur Commercial Administratif et Financier’. Expertise​ Risk Management, Credit Risk, Financial Services, Corporate Governance, Operational Risk, International Banking, Strategic Risk Analysis, and Regulatory Compliance. Directorship in other listed companies: None Board of Directors (continued) Fareed Jaunbocus​ INDEPENDENT DIRECTOR Committees Chairperson of the Audit and Compliance Committee, Member of the Risk Management Committee, and Member of the IT & Digitalisation Committee. Experience​ Fareed Jaunbocus is the CEO of Strategos Co. Ltd, a leading management consulting firm with over 31 years of experience in the field. He has been a partner at DCDM/Arthur Andersen/ BDO for 31 years, heading Strategic Consulting services. Fareed has a unique width of experience in consulting assignments, and in capacity-building, and a recognised track record of high delivery. His consulting experience spans more than fifty countries, working with blue-chip companies and top CEOs in Mauritius and globally. He has been the Engagement Partner and Lead Consultant on numerous strategic consulting projects at DCDM/BDO up to July 2017. He is also a specialist in structured and strategic thinking, having carried out more than a thousand stakeholder assignments for leading organisations, both locally and overseas. He adheres to the highest standards of professional excellence and ensures a positive memorable experience for his clients. In addition to his consulting career, Fareed has also served as a part-time lecturer for ACCA and MBA students. Fareed has been a regular spokesperson in international conferences. A skilled facilitator, he has also been a resource person in different international teams from the USA and also for International Organisations like WORLD BANK, UNDP among others. He also serves as Board Director and has been a Director on the United Nations Advisory Board in New York as well some public bodies. Fareed has earned numerous awards, including the Africa Most Respected CEO Award in Management Consultancy in July 2022, and the Global Respected CEOs in Management Consulting in Singapore in 2023. Expertise​ Strategic Planning, Strategic Thinking, Climate Change, Renewable Energy, Effective Brainstorming, Organisational Review and Restructuring, Family Business Consulting, Implementation of Balanced Scorecard, Change Management, Team Building and 360 degree Analysis, Facilitation Services, Customer Service Excellence, Risk Management, Coaching and Capacity Building amongst others. Directorship in other listed companies: None 30

Sharona Ramdoss INDEPENDENT DIRECTOR Committees Chairperson of the ESG sub-committee, Member of the Audit and Compliance Committee and Member of the Board Investment Committee. Experience​ Sharona Ramdoss is a CFA Charterholder with a master’s degree in economics & management from the University of Science and Technology of Lille and a master’s degree in International Financial Analysis from École Supérieure des Affaires de Lille. Sharona is the co-founder of Adaptiv Global Partners, a boutique advisory firm. She has previously served as a director on the boards of Ascencia and private equity firms. Sharona volunteers with Les Restos du Coeur in Paris. Expertise​ Strategy, Financial Analysis, ESG, Project Management, People Management and Communication. Directorship in other listed companies: None David Somen​ NON-EXECUTIVE DIRECTOR Committees Chairperson of the Corporate Governance and Conduct Review Committee. Experience​ David Somen holds a Law Degree from Oxford University and an MBA from Harvard Business School. He is the co-founder and Managing Director of Virtual IT Limited, a UK-based IT managed services and security provider. He also co-founded and serves as Chairperson of Eldama Technologies Limited, one of Kenya’s leading cloud and IT services providers. Additionally, David is the co-founder and director of Serenity Spa, Kenya’s leading spa and wellness organisation, and the co-founder and Chairman of Jani Beauty, a manufacturer of African-sourced sustainable body and facial products. Prior to his work with Eldama and Virtual IT, David was the co-founder and Executive Deputy Chairperson of AccessKenya Group, Kenya’s leading corporate Internet Services Provider, which was later listed on the Nairobi Stock Exchange and sold to Dimension Data Group. He was also the co-founder and CEO of the LCR Telecom Group, which was sold to NASDAQ-listed PRIMUS Telecommunications. David has several years of experience working for McKinsey & Co in London and Hong Kong. He currently serves on the board of Enasoit Ranch and is a trustee of May Measurement Month, an international hypertension charity. David is currently the Chairperson of Cim Credit Kenya Ltd (Aspira), Cim Finance’s Kenyan financial services business. Expertise​ Strategy, Finance, Financial Services, Fintech, Technology, Governance, Africa/Emerging Markets, Family Businesses. Directorship in other listed companies: None 31 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Colin Taylor​ NON-EXECUTIVE DIRECTOR Committees Member of the Board Investment Committee. Experience​ Colin Taylor was appointed as a Non-Executive Director of CFSL in March 2010 and served as Chairperson of the Board from January 2017 to July 2020. He is currently the Chairperson and CEO of Taylor Smith Investment Ltd, a diversified group of companies operating in Marine Services, Logistics and Distribution, Manufacturing, Services and Property. Colin is also the Chairperson of Lavastone Ltd, a company which acquires, develops, leases and manages a portfolio of commercial and industrial properties in Mauritius and Rodrigues. Colin holds an MSc in Management from Imperial College, London and a BSc (Hons) in Engineering with Business Studies from Portsmouth Polytechnic. Expertise​ Strategic Management, Investment, Real Estate, Marine Services, Manufacturing. Directorship in other listed companies: Non-Executive Director of Lavastone Ltd Board of Directors (continued) Matthew Taylor NON-EXECUTIVE DIRECTOR Committees Member of the Risk Management Committee and Member of the IT & Digitalisation Committee. Experience​ Matthew Taylor holds a BSc (Hons) in Retail Management from the University of Surrey. He began his career with Rogers in 2000 as a Project Manager in the Planning and Development Department. From 2007 to January 2013, he served as the Executive Director of Retail at Scott and Company Limited, and currently holds the position of CEO at the firm. Matthew is also the Honorary Consul of Norway in Mauritius as of April 2024. Expertise​ Retail Management, Project Management, Corporate Strategy, Business Development, Leadership, Operational Efficiency. Directorship in other listed companies: None 32

Philip Taylor​ NON-EXECUTIVE DIRECTOR Committees Member of the Corporate Governance and Conduct Review Committee. Experience​ Philip Taylor graduated from the University of Surrey in 1989 after studying Hotel Management and later completed his MBA in England in 1994. After returning to Mauritius, Philip joined the Rogers Group, where he headed the Group’s diversified international development. In 2004, he left Rogers to establish his own businesses, focusing on the Indian Ocean Islands and Africa. His diverse experience over the past few years have been focused on the region’s hospitality and tourism industry. He currently heads the development of a fast-growing hospitality and tourism technology service company by the name of www. hospitality-plus.travel. In addition to his business ventures, Philip serves as the Honorary Consul of Finland in Mauritius. Expertise​ Hospitality and Tourism Management, International Business Development, Regional Strategy, Technology Solutions for Hospitality, Leadership, Diplomatic Relations. Directorship in other listed companies: Non-Executive Director of Lavastone Ltd. Tim Taylor ​ NON-EXECUTIVE DIRECTOR Committees Chairperson of the Board Investment Committee, Member of the Corporate Governance and Conduct Review Committee, and Member of the ESG sub-committee. Experience​ Tim Taylor holds a BA (Hons) in Industrial Economics from Nottingham University. He worked in the United Kingdom until 1972, before returning to Mauritius and joining Rogers & Co. He became Chief Executive of Rogers in 1999 and retired in December 2006. He was then appointed Non-Executive Chairperson of Rogers from 2007 to October 2012. Tim serves as the Chairperson of Scott and Company Limited, one of Mauritius’ oldest commercial concerns. He is a former Chairperson of the National Committee on Corporate Governance and a former President of the Mauritius Chamber of Commerce and Industry. He was also the Honorary Consul of Norway in Mauritius from 2007 to 2023. Having always had a keen interest in environmental and conservation issues, he has been an active member of the Council of the Mauritian Wildlife Foundation since 2006 and became President of the Foundation in 2009. Expertise​ Corporate Governance, Business Strategy, Environmental Conservation, Leadership, Corporate Leadership, Investment Management, Diplomatic Relations. Directorship in other listed companies: None 33 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

Executive Director & Group Chief Executive Officer Ambrish Maharahaje Insights from the Group CEO 34

Could you provide an overview of the company’s performance over the past year? This has been a year of remarkable results for Cim Finance, underscored by disciplined execution and strong operational fundamentals. Achieving MUR 1bn in profit after tax is a testament to our ability to balance growth with sound risk management. Our balance sheet remains robust, supported by a reduction in provision requirements and our net NPLs are now near pre-COVID levels – all indicators of a well-managed portfolio and effective operations. Assuming the role of Group CEO in March 2024 has been a privilege. It has been a smooth transition, made possible by the sound foundations already in place, the support of our talented ExCo and ManCo teams, and a well-guided strategy that has brought us to this point of success. My first few months into this role have been shaped by a balance of continuity and progress, remaining faithful to the values and principles that have served us well, while driving forward innovation and adaptability to meet the challenges of tomorrow. What were some of the biggest challenges faced by the company this year? How did Cim Finance respond? The environment was marked by regulatory changes and persistently high interest rates, exerting significant pressures on our cost of funding, and in particular on the consumer finance segment. Leveraging our flexible funding approach and making selective interest rate adjustments has allowed us to minimise the impact on our business. Amid these challenges, we also seized opportunities. In the leasing segment, the increasing demand for green financing has become a major driver of growth, supported by the issuance of our green bond. This initiative has positioned Cim Finance as a leader in sustainable finance, allowing us to meet the growing demand for environmentally conscious solutions while advancing our broader ESG goals. As consumer preferences lean further toward digital platforms, we have made significant progress in building a robust and secure digital infrastructure, while innovating continuously to meet customer expectations at every touchpoint. How is Cim Finance’s strategy evolving to address these shifts? Cim Finance’s strategy is built around three core pillars: scaling our business, achieving operational excellence, and empowering our workforce. These priorities are guided by clear initiatives and measurable KPIs, including deepening our digital capabilities, diversifying our product offerings, and embedding ESG principles into our operations and investment strategies. To help these efforts forward, we recently welcomed a Group Chief Human Resources Executive, responsible for steering our human resource strategy, and for championing our dual focus on technology and talent. By aligning our digital transformation strategy with a people-focused approach, we aim to create a ‘phygital’ workplace that leverages technology not only to enhance efficiency, but also to boost employee engagement and wellbeing. This balance is crucial as we navigate a very competitive talent market, particularly in attracting and retaining digital natives who value flexibility and meaningful work. How is the company approaching technological innovation and digital transformation? Digital transformation remains central to our strategy. We continuously automate and modernise our operations to enhance both the employee and customer experience. A cornerstone of this effort is the migration to a new core lending system – our largest digital project yet – which will serve as the backbone of our operations. This upgrade, slated for completion by the end of next year, is designed to offer greater scalability, efficiency, and service responsiveness. We have also enhanced our digital platforms and mobile applications to meet the growing demand for convenience and accessibility. Innovations like the e-loan feature in the MoFinans app, now enabling customers to apply, get approval, sign their contract, and repay loans instantly. There is also high uptake of customers repaying their credit facilities via IPS on the MoFinans app and we have crossed MUR 100m in IPS monthly transactions. Internally, the past few years’ digital investments are bearing fruit and have allowed us to generate productivity gains in our leasing operations. Our efforts are now focused on automation and efficiency gains across departments to boost operational excellence and customer centricity. Can you discuss the company’s approach to risk management and regulatory compliance? A disciplined and forward-looking approach to risk management and compliance has been key to maintaining the health of our portfolio, as reflected in a steadily decreasing NPLs rate. Our risk framework is dynamic, continuously adapting to align with regulatory changes and incorporating regular assessments of processes, products, clients, and channels to mitigate risks effectively. Accountability is embedded across all levels of the organisation. Our compliance team works closely with business units to foster a culture of vigilance and adherence, while we invest heavily in training our people to stay ahead in a complex regulatory landscape, aligning their expertise with the company’s priorities. This year, we reinforced our capabilities with the introduction of an automated screening tool, enhancing our ability to flag, monitor, and escalate potential risks. Looking ahead, the addition of real-time customers’ screening will mark a significant leap, enabling the near-instant detection and response to emerging threats. What is your outlook for the financial services sector in the coming year? The financial services sector stands at a turning point, with digitalisation, AI, regulatory shifts, and labour market challenges defining the agenda. Consumer expectations for more convenience and personalisation are also opening new opportunities for digital solutions and financial advisory services – the hallmarks of our business. Despite ongoing economic uncertainties, Cim Finance remains well-positioned and confident in our ability to build on our strong market presence, strategic focus, and the momentum gained this past year. This foundation provides a springboard for diversifying our revenue streams, and exploring new market segments and strategic partnerships that will drive our next phase of growth. What final message would you like to share with the company’s stakeholders? I would like to express my sincere gratitude to our Board of Directors for the trust they have placed in me. To our stakeholders, thank you for your continued support and confidence. Our achievements are a reflection of the invaluable contributions of our employees, partners, and customers who continue to believe in our vision. As we look to the year ahead, we remain committed to delivering meaningful and sustainable value. Our ESG strategy, whilst a work in progress, is increasingly guiding how we operate, ensuring that profitability and responsibility go hand-in-hand. Together, we will continue building a future that benefits us all, and that we can take pride in. 35 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial

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