#1BAJAJ B FINSERV BAJAJ FIN SERV LIMITED Investor Presentation - Q1 FY22* *Financial year 2021-22#2Bajaj Group Structure Bajaj Holdings & Investment Limited (Listed) € 33.43% 2 B BAJAJ FINSERV Bajaj Auto Limited (Listed) Auto Business Arm 39.16% 1 51% Maharashtra Scooters Limited (Listed) Bajaj Finserv Limited (Listed) Financial Services Arm 52.65% 3 74% Bajaj Finance Limited Bajaj Allianz General Insurance (Listed)* Bajaj Housing Limited Bajaj Allianz Life Insurance Limited Auto spare parts Manufacturer 74% 100% 100% Bajaj Finserv Direct Limited Bajaj Finserv Health Limited 100% 100% Bajaj Financial Securities Limited 1. 2. 3. 60.8% holding via promoter holding & promoter group 53.65% holding via promoter holding & promoter group 56.02% holding via promoter holding & promoter group Finance Limited Bajaj Finserv Limited (BFS) shareholding in Bajaj Finance Limited (BFL) was 52.74% as on 31 Mar 2021. Bajaj Housing Finance Limited (BHFL) is a 100% subsidiary of BFL which became fully operational in Feb 2018. Bajaj Financial Securities Limited (BFSL) is 100% subsidiary of BFL which became fully operational in Aug 2019 Maharashtra Scooters Limited (MSL) is termed as an unregistered Core Investment Company. Note: Shareholding is as of 30 June 2021. 2#3Bajaj Finserv's Vision - A diversified financial services group with a pan-India presence B | Life cycle needs of Individual & SME customers BAJAJ FINSERV Asset acquisition Asset protection Family, Health & Income Protection Investment/ Wealth management Retirement Loan (Personal, Home), Credit Cards General Insurance General, Health & Life Insurance Guaranteed Savings, Digital access to health ecosystem ULIPS*, Fixed Deposits, Shares Annuities PRODUCTS & SOLUTIONS Bajaj Finance Limited (BFL) Bajaj Allianz Life Insurance Limited (BALIC) Bajaj Allianz General Insurance Limited (BAGIC) PLATFORM S Bajaj Finserv Direct Limited (BFDL) Bajaj Finserv Health Limited (BFHL) Bajaj Financial Securities Limited (BFSL) Diversified across products and markets, with a strong retail core BFS has applied to SEBI for setting up an Asset Management Company. Once licensed, it will enhance the offerings under Investments, Wealth management and Retirement solutions *ULIPS Unit Linked Investment Products 3#4Bajaj Finserv - Established businesses with strong track record Bajaj Finance Limited BBAJAJ FINSERV Bajaj Allianz General Insurance Ⓡ BAJAJ Allianz ⑪ Bajaj Allianz Life Insurance ® BAJAJ | Allianz ⑪ Non-Bank with strategy & structure of a bank Diversified financial services strategy with an optimal mix of risk and sustainable profit Focussed on mass affluent & above with a strategy to cross-sell with smart use of data and analytics Focused on continuous innovation to transform experience and create growth opportunities customer ☐ Build a profitable & diversified portfolio of products & solutions with emphasis on multi-channel distribution, strong underwriting with stress on combined ratio & prudent financial management Drive the theme of "Caringly yours" on the foundation of customer obsession through innovations in customer experience Strive to be the best claims paying general and health insurer ☐ Balanced product mix and diverse distribution network to deliver sustainable profitable growth with robust risk management Life Goal Enablers for customers through differentiated products ☐ Customer-centric strategy to deliver seamless, simplified & personalized experience ☐ Use of innovation & data analytics as a strategic differentiator for customers & sales partners 4#5Bajaj Finserv - Emerging Opportunities Bajaj Finserv Health Limited B Health Health Tech venture aims to transform health care sector in India ☐ Integrating the fragmented healthcare delivery ecosystem with technology and financial services on a digital platform to bring quality health care closer to consumers' reach through products, networks & Technology Introduced Aarogya Care', an industry-first product, offering a wide range of personalized, preventive and prepaid health care packages such as OPD care, telemedicine, and other services. Bajaj Finserv Direct Limited B BAJAJ FINSERV ☐ Diversified Financial Services & eCommerce Open Architecture Marketplace for Loans, Cards, Insurance, Investments, Payments & Lifestyle products ☐ Offering large number of Financial products and thousands of Lifestyle SKU's on its Finserv MARKETS platform Attract new-to-Finserv customers by creating awareness and discovery of the Finserv brand in the digital medium Bajaj Financial Securities Limited* B BAJAJ FINSERV ☐ A digital stockbroker to provide Loan Against Securities (LAS) customers of BFL by offering them a full suite of investment products and services ☐ All-in-one digital platform combining dem at, broking, margin trade financing for retail and HNI clients on a predominantly B2C platform *Bajaj Financial Securities Limited is 100% subsidiary of Bajaj Finance Limited which became fully operational in Aug 2019 5#6Role of Bajaj Finserv ☐ B BAJAJ FINSERV Monitor and engage with our companies with the objective of long-term sustainable profit, meaningful market share, and effective use of capital thereby delivering superior shareholder returns - We do this by driving companies to create institutionalized frameworks through accountable empowerment and encouragement of disruptive thinking Business Rigorous engagement in Long Range Planning and Annual Operating Plans Regular review of all businesses and their SBUS New business opportunities and Strategic investments CRO Chief Risk Officer ERM Enterprise Risk Management ORM Operational Risk Management and Risk Harmonization of risk policies framework, Regular engagement with CROS of business ■ Periodic review of top ERM risks including credit, business, financial, operational, reputation, etc. & mitigation actions planned Drive risk related projects across the group such as ORM People / HR One Finserv Group Talent mobility Group Young Leader Management Trainee Program ■ 30 Under 30 Program ■ 3 Tier Merit based remuneration plans combining fixed cash, annual bonus and ESOPS Collaboration and Best Practice Group Knowledge Forums - Analytics, Technology, Investments, Governance, etc. ■ Cross group stress identification forum to identify any cross functional view on investment risks ■ Cross Company projects on Data, innovation and digital strategy. Customer Experience, Investments, ESG Defining Customer Service protocols for businesses ■ Review and standardisation of investment processes ■ Oversight and monitoring of ESG policy and its implementation across the group CO 6#7Some of our key initiatives towards furtherance of ESG B • BAJAJ FINSERV "ESG is not just the right thing to do, it is what will shape a better tomorrow." Governance Board approved business responsibility policy (including material subsidiaries) Liquidity solvency higher than the statutory requirement Women empowerment through policies, opportunities, social initiatives and more. Empowering Society • 'Cleft Reconstructive Surgeries' for 58,000+ children since 2014 • Eye care for 400,000+ individuals over last 3 years 9,583 students (67.5% being women) enrolled for CPBFI*, since inception • 860+ women farmers empowered in ecologically sensitive areas Reaching Financial Services to Million of Indians • Crop insurance to 4.8+ million farmers in last 3 years. Financing to over 10 million new- to-credit customers during last 3 years Higher contribution of rural / social sector business compared to IRDAI norm s Customer Centricity Charters and policies to protect interest of customers • Use of technology to enhance customer experience • Conducted customer training and awareness campaigns • Supported customers amidst the pandemic through repayment moratorium, renew al extension, etc. • Preserving and Protecting Environment Renewable power generated is significantly more than the electricity consumed • Reduced paper consumption through digital initiatives 10 bps incremental pricing on fixed deposits placed digitally • · Human Capital Management 33,000+ employees upskilled / multi-skilled through trainings 40%+ employees below 30 years 4,200+ employees moved through internal job posting mechanism, etc. ⚫COVID-19 initiatives such as financial aid, dedicated helplines, doctor consultations, counsellors for mental health & wellbeing, etc. *CPB FI Certification Program in Banking, Finance and Insurance 7#8Bajaj Finserv performance highlights - Q1 FY22 BAJAJ B FINSERV All Figures in Rs Million Performance Highlights of Q1 FY22 over Q1 FY21 (Ind AS) 50 CY 139,495 PY 8,328 366,001 39,336 -2% -31% 11% 10% • . 141,920 Total Revenue (Consolidated) 12,152 329,571 PAT* (Consolidated) Net Worth (Consolidated) 35,859 Net Worth (Standalone) Bajaj Finserv remains a debt free company. Bajaj Finserv's surplus funds (Excluding Group Investments) stood at Rs. 13.2 Bn as on 30 June 2021 (Rs. 10.6 Bn. as on 30 June 2020) Consolidated Book Value Per Share at Rs. 2,300 as on 30 June 2021( Rs. 2,071 as on 30 June 2020) PAT includes unrealised mark-to-market gains on equity investments measured at fair value through profit and loss of BALIC and BAGIC of Rs 250 Mn in Q1 FY 22 as compared to 3,300 Mn in Q1 FY21 Note *PAT attributable to owners of the company 8#9Consolidated profit components - Q1 FY22 Consolidated profit components for Q1 FY22 (Ind AS) Adjustments (Net of Tax) # Unrealized MTM* Gain on BAGIC Investments - Rs. 240 Mn Unrealized MTM Gain on BALIC Investments - Rs. 10 Mn Intercompany adjustments Bajaj Finserv- Standalone (63) Others B BAJAJ FINSERV All Figures in Rs Million Life Insurance General Insurance (468) 634 Bajaj Finance 2,940 5,281 Consolidated profit components for Q1 FY21 (Ind AS) Adjustments (Net of Tax) # Unrealized MTM* Gain on BAGIC Investments - Rs. 1,290 Mn Unrealized MTM Gain on BALIC Investments - Rs. 2,010 M n Intercompany adjustments Bajaj Finserv- Standalone 106 Others 10 Life Insurance (250) General Insurance 2,979 Bajaj Finance 4,224 5,083 *M TM - Mark to Market | # Represents Impact on consolidated financials i.e. considering BFS's stake 8,328 Bajaj Finserv Consolidated 12,152 Bajaj Finserv Consolidated 9#10Q1 FY22 Highlights BAJAJ B FINSERV B BAJAJ FINSERV All Figures in Rs Million Highlights of Group Companies BAJAJ FIN SERV* Q1 FY22 Q1 FY21 Growth BAJAJ FINANCE* Q1 FY22 Q1 FY21 Growth Total Revenue 139,495 141,920 -2% AUM 1,590,569 1,380,546 15% Net worth 366,001 329,571 11% Total Income 67,430 66,497 1% PAT 8,328 12,152 -31% PAT 10,024 9,623 4% # Consolidated Ind AS PPOP^ 31,162 29,954 4% Consoldiated Profit Components* BAGIC Q1 FY22 Q1 FY21 Growth GWP 24,944 22,891 9% 2% 8% Investments 235,049 196,115 20% 15% 21% 25% 35% PAT 3,624 3,949 -8% 31% 35% Combined Ratio 103.4% 97.6% -5.8% abs. 85% 63% 52% BALIC Q1 FY22 Q1 FY21 Growth 42% -3% -6% -4% 1% GWP 25,155 16,997 48% Investments 2019-20 2020-21 Q1 FY21 Q1 FY22 PAT 772,704 840 609,681 27% 1,300 -35% BFL BAGIC BALIC Others* NBV & NBM ** $ 253 4.2% -135 -3.4% > 100% 7.6% abs. Bajaj Finserv and Bajaj Finance figures are as per Indian Accounting Standard (Ind AS). ■ BAGIC and BALIC figures are as per IRDAI Regulations (Indian GAAP) & the Indian Accounting Standard framework is used only for consolidated numbers ** NBV - Net New Business Value, NBM - New Business Margin, *Others includes Bajaj Finserv Standalone, and all remaining components ^ Pre Provision Operating Profit Before Tax, $ - On 12 month rolling basis, NBM for the period ended Jun 21 is 12.8% vs 9.4% for the period ended Jun 20 10#11BAJAJ B FINSERV Bajaj Finance Limited 11#121 BFL - Key Strategic Differentiators STRATEGY BAJAJ B FINSERV Diversified financial services strategy seeking to optim ise risk and profit, to deliver a sustainable business model and deliver a superior ROE and ROA • Focused on continuous innovation to transform customer experience to create growth opportunities. DIFFERENTIATORS Focus on mass affluent and above clients Strong focus on cross selling to existing customers Highly agile & highly innovative Deep investment in technology and analytics. Diversified asset mix supported by strong ALM and broad-based sources of borrowings. Overall customer franchise of 50.45 Mn. and Cross sell client base of 27.43 Mn. Centre of Excellence for each business vertical to bring efficiencies across businesses and improve cross sell opportunity. 79% of new loans in Q1 FY22 were to existing clients Continuous improvement in features of products & timely transitions to maintain competitive edge Has helped establish a highly metricised company and manage risk & controllership effectively Consolidated lending AUM mix for Consumer: Rural : SME Commercial Mortgage stood at 34% 10% : 13% 11% 32% as of 30th June 2021 Consolidated borrowing mix for Banks: Money Markets: Deposits: ECB stood at 31% 44% 21% :4% 12#13BFL: Business Segments BAJAJ FINANCE Consumer SME Commercial BAJAJ B FINSERV Rural Largest consumer electronics, digital products & furniture lender in India • Presence in 1,368 • . locations with 82,950+ active points of sale Amongst the largest personal loan lenders EMI Card franchise of over 24.1 Mn. cards in force Among the largest new loans acquirers in India 4.63 Mn in Q1 FY22 Bajaj Finserv - Mobikwik active wallet users stood at 20.9 Mn as on 30 June 2021 who have linked EMI card to wallet •Bajaj Finserv - RBL Bank co-branded credit card stood at 2.13 Mn as of 30 June 2021 Focused on affluent SM Es with an average annual sales of around Rs. 15-17 Crores with established financials & demonstrated borrowing track records • Offer a range of working capital & growth capital products to SME & self employed professionals • Dedicated SME Relationship management approach to cross sell Wholesale Lending products covering short, medium and long term financing needs of selected sectors viz. ✓ Auto component and ancillary manufacturers Light engineering ✓ Financial institutions • Structured products collateralized by marketable securities or mortgage Financing against shares, mutual funds, insurance policies and deposits Unique hub-and-spoke model in 1,745 locations and retail presence across 24,000+ points of sale • Diversified rural lending model with 10 product lines across consumer and professional business categories 13#14BFL's - Summary of COVID-19 ВАЈАЈ B FINSERV ☐ It was a muted quarter impacted by severe second wave of pandemic. Both businesses & debt management efficiencies were affected due to strict lockdowns in majority of the states Second wave caused a marginal increase in EMI bounce rate in Q1 FY22 over Q4 FY21. Average EMI bounce rate in Q1 FY22 were approximately 1.08X of Q4 FY21; The bounce rate for July 2021 has improved to 0.96X of Q4 FY21 Cost of Funds for Q1 FY22 was 7.11% vs 7.39% in Q4 FY21. Company's liquidity buffer was Rs. 108,572 Mn (represents 8% of total borrowing) as of 30 June 2021 vs Rs. 164,855 Mn as of 31 March 2021 Company follows Expected Credit Loss (ECL) methodology of provisioning and has to provide for expected losses over the tenor of the loans; accordingly accounted for higher credit cost in Q1 FY22 ◉ Wave 2 resulted in subdued debt management efficiencies leading to higher stage 2 & 3 assets GNPA for the quarter increased by Rs. 2,006 crore from Rs. 2,731 crore as of 31 March 2021 to Rs. 4,737 crore as of 30 June 2021; Auto Finance Business was worst affected NNPA as of 30 June 2021 was Rs. 2,307 crore vs Rs. 1,136 crore as of March 2021 ☐ As per current estimates, the company expects credit costs for FY2022 to be in the range of Rs. 4,200 crore to Rs. 4,300 crore (FY21 credit cost was Rs. 5,969 crore) ☐ Planned business transformation is on track for phase 1 go live in late Q2/Q3 FY22 14#15- BFL Key Highlights Q1 FY 2021-22 AUM & Business Franchise Growth NIM Metrics, Liquidity and Operating Expense Credit Costs BAJAJ B FINSERV ■ Q1 FY22 AUM was at Rs. 1,590,569 Mn vs Rs. 1,380,546 Mn last year (15% growth); Core AUM accretion in Q1 FY22 was approximately ~ Rs. 41,000 Mn ■ 4.63 Mn new loans in Q1 FY22 as against 1.75 Mn in Q1 FY21; ◉ Acquired 1.88 Mn new customers in Q1 FY22 vs 0.53 Mn in Q1 FY21 ■ Total customer franchise stood at 50.45 Mn as of 30 June 2021 - 17% growth Yo Y ■ Net Interest Income (NII) for Q1 FY22 was Rs. 44,895 Mn vs Rs. 41,521 Mn in Q1 FY21; ▪ The Company is carrying liquidity buffer of Rs. 108,572 Mn, representing 8% of its total borrowing - ■ As of 30 June 2021, deposit book stood at Rs. 279,716 Mn growth of 39% YoY Opex to NII came in at 30.6% vs 27.9% in Q1 FY21; expected to normalize to -33% by Q4 FY22 ■ Loan losses & provisions for the Q1 FY22 were Rs. 17,503 Mn vs Rs. 16,857 Mn in Q1 FY21; Holds a management overlay position of Rs. 4,830 Mn as of 30 June 2021 ■ GNPA & NNPA for the quarter stood at 2.96% & 1.46% respectively as compared to 1.79% and 0.75% in Q4 FY21 *Core AUM growth = AUM growth for the quarter - short Tenor IPO financing book + additional losses on account of COVID 15#16BFL Key Highlights Q1 FY 2021-22 BAJAJ B FINSERV Profitability & Capital Position Subsidiaries - Q1 2021-22 ■ Despite higher provisioning, profit after tax (PAT) for Q1 FY22 increased by 4% to Rs. 10,024 Mn compared to Rs. 9,623 Mn in Q1 FY21 ■ Capital adequacy remained very strong at 28.57% as of 30 June 2021. Tier-1 capital was 25.41% A. Bajaj Housing Finance Limited (BHFL) ■ AUM increased by 24% to Rs. 409,409 Mn as of 30 June 2021 from Rs. 329,822 Mn as of 30 June 2020 ☐ Profit after tax (PAT) increased by 75% to Rs. 1,605 Mn in Q1 FY22 against Rs. 918 Mn in Q1 FY21 on account of higher net interest income and low er loan loss provisions Rs. 259 Mn in Q1 FY22 vs Rs. 452 Mn in Q1 FY21; Net Interest Income for Q1 FY22 increased by 38% to Rs. 3,348 Mn from Rs. 2,427 Mn in Q1 FY21 Opex to NII decreased to 27.2% in Q1 FY22 as against 30.5% in Q1 FY21; BHFL's Capital adequacy ratio (including Tier-Il capital) as of 30 June 2021 stood at 22.07% B. Bajaj Financial Securities Limited ■ Total Income of Rs. 150 Mn in Q1 FY22 against Rs. 29 Mn in Q1 FY21; Net loss of Rs. 32 Mn in Q1 FY22 16#17BFL - Q1 FY22 Highlights BAJAJ B FINSERV All Figures in Rs Million Performance Highlights of Q1 FY22 over Q1 FY21 (Ind AS) CY 1,531,433 67,430 16% 1% PY 1,323,677 Book Size CY 0.7% 66,497 Total Income 2.7% PY 0.7% 2.9% Return on Assets (Non-annualized) ROE (Non-annualized) 10,024 4% 9,623 Profit After Tax Borrowing mix as of 30 June 2021 is 31:44:21:4 between banks, money markets, deposits and others (Mix was 39:40:17:4 as of 30 June 2020) 17#18BFL Book Size and Revenue FY21 growth of 4% Book Size 1,466,869 1,413,760 Q1 FY22 growth of 16% 1,531,433 1,323,677 FY20 FY21 Q1 FY21 Q1 FY22 FY21 growth of 1% 263,856 Total Income 266,831 BAJAJ B FINSERV All Figures in Rs Million Q1 FY22 growth of 1% 66,497 67,430 FY20 FY21 Q1 FY21 Q1 FY22 Net Interest Income FY21 growth of 2% 169,124 172,691 Q1 FY22 growth of 8% 41,521 44,895 FY20 FY21 Q1 FY21 Q1 FY22 Bajaj Finance Consolidated results are as per Ind AS, previous years figures have been re-casted for comparability 18#19BFL Loan Loss Provision and Operating Expenses BAJAJ B FINSERV All Figures in Rs Million Loss Provision and Net NPA% 59,686 2.00% 60,000 45,000 39,295 1.46% 30,000 16,857 17,503 15,000 0.75% 0.65% 0.5% 0 0.00% FY20 FY21 Q1 FY21 Q1 FY22 Net NPA %* GNPA and NNPA in Q1 FY22 stood at 2.96% & 1.46% respectively as compared to 1.40% and 0.50% in Q1 FY21 ☐ Standard assets provisioning (ECL stage 1 and 2) stood at 174 bps as of 30 June 2021 vs 181 bps as of 31 March 2021. This was 90-100 bps during pre- pandemic condition. Loss Provision (Rs. millions) Operating expenses as a % of NII PAT FY21 growth of -16% 52,637 44,198 35.3% 39,950 33.5% 30.7% 30.6% 27.9% Q1 FY22 grow th of 4% 9,623 10,024 FY19 FY20 FY21 Q1 FY21 Q1 FY22 FY19 FY20 FY21 Q1 FY21 Q1 FY22 *Net NPA, recognized as per extant RBI prudential norms and provisioned as per Expected Credit Loss (ECL) method prescribed in Ind AS. 19#20Bajaj Allianz General Insurance 20#21BAGIC - Key Strategic Differentiators STRATEGY BAJAJ Allianz Strive for market share growth in chosen segments through a well-diversified product portfolio and multi-channel distribution supported by prudent underwriting DIFFERENTIATORS Strong selection of Risk & prudent underwriting Balanced Product Mix Deep and wide distribution Retail & Commercial orientation Investments in technology with focus on all stakeholders - "Caringly yours" Industry leading combined ratios consistently over time Combined Ratio stood at 96.9% in FY21 ▪ Business construct is to deliver superior ROE Diversified product portfolio offering across retail and corporate segments ■ Continuous innovations in product features to maintain competitive edge Multi channel distribution network encompassing multiline agents, bancassurance, broking, direct, and ecommerce network serving all segments Focused on retail segments (mass, mass affluent & HNI) & commercial segments (SME & M SMEs) while maintaining strong position in large corporates & government business Deep investments in technology to drive efficiencies for the Company and convenience for all stakeholders - Customers, distributors and employees 21#22BAGIC's - Summary on COVID-19 BBAJAJ Allianz ☐ Regional lockdowns imposed due to COVID-19 resulted in marginally lower growth for BAGIC in Q1 FY22 (9.1% (ex. Crop 11.1%) vs Industry # growth of 11.1%) Key business segments grew better than the market Motor: maintains strong growth in 2W & 4W segments but Commercial vehicles (CV) still stressed on grow th BAGIC continues to do well on Commercial lines (Fire, Engineering & Liability), despite IIB rate hike effect getting based out from previous quarter i.e. Q4 FY21 Retail health growth was strong On the claims front, the experience is severe than the Q1 FY21 Benefit from lower Motor OD claims frequency was relatively lower when compared with Q1 FY21; though frequency is still below pre-COVID levels ■ Though the severity of COVID-19 claims was lower than the peak severity observed in FY21, frequency of COVID claims increased as seen from the fact that 82% of total COVID claims of FY21 already booked during Q1 FY22; adversely impacted the overall loss ratio for Q1 FY22 by 14.8% Motor TP claims are still not being settled at the same pace as courts are still not operating at full capacity The Company continues to be well capitalized with a Solvency at 340% as against minimum solvency of 150% BAGIC has grown faster than the market in key business lines and delivered underwriting profits in most difficult times # Industry growth excluding specialised insurers and Standalone Health Insurers 22#23BAGIC - Key Highlights Q1 FY 2021-22 BAJAJ Allianz Revenue Growth Gross Written Premium (Segmental Performance) Loss Ratio (LR) Combined Ratio (COR). Profit after tax (PAT) ■GDPI grew by 9.1% in Q1 FY22 as against Industry* growth of 11.1% Ex. Crop & Govt. Health, Q1 FY22 GDPI grew by 10.8% vs Industry growth of 11.6% ■ Growth in Q1 was driven by Motor 4W (10.3%), 2W (23.0%), commercial lines (14%) & Retail Health (30.8%); CV segment de-grew by -2.8% In Q1, most retail lines faired better than the market growth ■ Overall motor growth of 7.1% was more than the industry growth of 3.1%, Fire growth of 11% (Industry: 4.1% growth), Engineering growth of 26.9% (Industry: 32.6% growth) & Liability growth of 21.3% (Industry: 22.8%). Overall commercial lines for Industry grew at 8.2% ■LR at 75.9% as against 68.1 % in Q1 FY21 mainly on account of higher COVID claims LR increased by 1.2% on account of claims pertaining to cyclone. Tauktae & Yaas Despite lower acquisition cost and expense, COR increased to 103.4% as against 97.6% in Q1 FY21 on account of higher loss ratio. Underwriting profit however of Rs. 150 Mn despite high COVID claim s Although claims ratio increased significantly, Q1 FY22 PAT de-grew by just 8% on account impact of higher investment income and higher realized gains of Rs. 1,321 Mn vs Rs. 604 Mn in Q1 FY22 Source: IRDAI Monthly Business Figures & GIC Council Segmental Reports #Industry growth excluding specialised insurers and Standalone Health Insurers, *Commercial Lines - Fire, Engineering & Liability 23#24BAGIC: Q1 FY22 Highlights Performance Highlights of Q1 FY22 over Q1 FY21 BAJAJ Allianz All Figures in Rs Million CY 24,944 15,352 18,151 3,624 9% 12% 0% -8% 22,891 PY 13,737 18,178 3,949 Gross Written Premium Net Written Premium Net Earned Premium Profit After Tax 5.0% 6.4% ROE* (Not Annualized) *Return on Equity (ROE) is excluding fair value change ■ Retail Growth at 9.8% (Ex. Crop, Govt. Health and GM C). GWP was Rs. 22,466 Mn in Q1 FY22 (Rs. 20,455 Mn Q1 FY21) ■ Solvency Ratio was 340 % as against regulatory requirement of 150% as of 30 June 2021 24#25BAGIC: Combined Ratio 100.8% 96.7% FY19 FY20 Combined Ratios (Including Motor TP Pool Losses) 96.9% FY21 BBAJAJ Allianz 103.4% 97.6% Q1 FY21 Q1 FY22 1. Combined Ratios are in accordance with the Master Circular on 'Preparation of Financial statements of General Insurance Business' issued by IRDA effective from 1st April, 2013. (Net claims incurred divided by Net Earned Premium) + ( Expenses of management including net Commission divided by Net Written Premium). 25#26BAGIC: Profit after tax and Capital efficiency BAJAJ Allianz All Figures in Rs Million PAT 13,301 9,988 7,799 FY19 FY20 FY21 Q1 FY22 PAT growth of -8% 3,949 3,624 Q1 FY21 Total Capital infused is Rs.2,768 Mn BAGIC Capital Invested - Networth No Capital infusion since FY08 Q1 FY22 Accumulated profit* 97% of Net worth as on 30 Jun 2021 79,479 76,711 75,245 62,748 51,640 56,421 72,477 59,979 53,653 48,872 2,768 2,768 2,768 2,768 2,768 FY19 FY20 FY21 Q1 FY21 Q1 FY22 Capital Invested Reserves Net Worth *Accumulated profit includes reserves and fair value change on equity investments 26#27Rs. Million BAGIC: Consistently amongst top 2 private insurers in BAJAJ Allianz terms of Gross Premium; Industry GDPI Trend (Rs. Bn.) 1,856 Q1 FY22 GDPI growth of 14% 1,785 1,617 930 1,052 1,137 687 733 FY19 FY20 FY21 PSU I Private Insurers* 110,970 70,098 FY19 386 440 718 215 253 170 187 Q1 FY21 Q1 FY22 Industry BAGIC Premium Trend 128,331 126,244 82,063 FY20 Q1 FY22 Premium grew by 9% 74,361 22,891 18,178 24,944 18,151 FY21 Q1 FY21 ■ GWP NEP Q1 FY22 Source IRDAI, GDPI: Gross Direct Premium Income | *Private Insurers Includes Standalone Health Insurers, PSU excludes AIC of India, and ECGC 27#28BAGIC: Balanced Product Mix Business Mix BAJAJ Allianz 8% 9% 13% 11% 10% 1% 13% 20% 19% 15% 33% 34% 13% 18% 14% 6% 95 9% 9% 13% 14% 5% 6% 7% 8% 44% 41% 38% 36% 35% -1% FY19 FY20 ■Motor (Retail) ■ Health (Retail) FY21 Q1 FY21 Q1 FY22 Group Health Prop, Liability, Engg ■Agri (Crop Insurance) ■ Others BAGIC's ex-crop GWP growth for Q1 FY22 vs Q1 FY21 was 11.1% ■ Overall contribution of Health business (Retail + Group) has increased from 20% in Q1 FY21 to 22% in Q1 FY22 28#29BAGIC: Diversified Channel Mix BBAJAJ Allianz Channel Mix 23% 27% 27% 20% 25% 37% 40% 37% 42% 43% 7% 3% 4% 6% 2% 12% 12% 13% 10% 11% 21% 20% 18% 21% 20% FY19 FY20 FY21 Q1 FY21 Q1 FY22 Individual Agents Corporate Agents - Banks Corporate Agents Others Brokers Direct Business Bancassurance Partnerships Agency & Retail Channels OEMs & Dealer Partnerships • Over 242 Bank partners 16 National Tie-ups & MNC Banks 37 NBFCs, 5 SFBs, 1 Payments Bank 141 Co-operative banks, 8 RRBs 34 Others • 47,000+ agents & 46,900+ POS • Virtual Sales Offices ⚫Direct Channels to drive upsell • Agency segmented under prime, key, emerging and Retail and SME • 32 national Tie-ups and over 9000 network of dealers . across pan India National Tie-ups with Maruti, Hyundai, Volkswagen, BMW, Audi, Honda, Land Rover, Ford, Mahindra, Citreon, JCB, Royal Enfield Note: The components might not add up to total of 100% due to rounding off Rural Focus 19.2 Million+ farmers covered under PMFBY in last 4 years • 30,000+ active CSC centers Presence in ecosystems 15+ Partnerships across in suretech companies, aggregators, wallets such as Phone Pe, payments bank, etc 29#30BAGIC: Assets Under Management AUM (cash and investments) 187,458 172,367 Q1 FY22 growth of 20% 231,502 235,049 196,115 BAJAJ Allianz BAGIC continues to grow its AUM strongly Rs. Million Investments are largely in fixed income securities FY19 FY20 FY21 Q1 FY21 Q1 FY22 99.4% of debt portfolio is in AAA or sovereign securities. 94.9% of Equity investment is in BSE 100 stocks Investment Leverage of 2.96 as on 30 June 2021 Investment Leverage AUM as of date / Net worth as of date 30#31BAGIC's Digital Journey mitra BAJAJ Allianz Digital Distributor Q1'22 Digital Issuance Q1' 22 Onboarding Intermediaries onboarded digitally 100% Easy & few clicks policy issuance option 93.7%- Digital Policy Q1' 22 "Go green" option for customer by going paperless 90.3% I Mitra/ Ezeetab One stop shop for partners & salespersons for policy issuance and services 1 Mn+ policies issued in Q1 DigiSwasth App & Web based 100% integrated health check up process 100% Integrated Setup >94% TAT in (0-4 hrs.) - Digital Customer Servicing Om ni & multichannel experience Key Initiatives & Digital Adoption BAGICARE CRM BAGICARE CRM Seamless WFH experience - Enabled for Website, Social Media, Chatbot 0.96 Mn+ Service Requests Core Transformation on Cloud Policy administration system being moved on cloud to enhance agility and integration. Travel & Retail Health are live Farm itra App For Farmer Community 49K+ downloads in Q1 FY22 00 010 010010 Q1' 22 54.7% WhatsApp + BOING 2.0 Al based chat BOT enabled with 23+ services & present on WhatsApp and 5 other platforms 6.4 Mn+ Messages Exchanged Data Lake 5K+ attributes across structured & unstructured data Prospect Mart: ~40 Mn prospects Unique customer base ~96 Mn Caringly Yours App - 1st Insurance App in India to cross 1 million downloads 1.27 lakhs+ downloads in Q1 FY22 31#32BAGIC: Risk Management ■ Asset Quality 99.4% of the debt portfolio in AAA and sovereign assets 88.7% of Equity in Nifty 50 stocks Oversight by Board & Executive investment committee and group level investment forum Robust ALM position Re-Insurance Reinsurance ceded only to the A & AA rated reinsurers, except mandatory ceding to GIC (Average Retention of 20% for commercial lines) Large reinsurance capacity & optimum retention BAJAJ Allianz Pricing & Underwriting Superior underwriting capability leading to low Combined Ratio consistently Diversified exposure across business lines & geographies Granular loss ratio modelling - geography, distribution, car make/model, vintage, etc. ■ Investigation, loss management & analytics intervention Reserving & Solvency IBNR loss triangles show consistent releases indicating robustness of reserving Highest solvency amongst peers - 340% at 30 June 2021 Robust process of monitoring concentration of risk. Catastrophic events adequately covered 32#33Bajaj Allianz Life Insurance 33#34BALIC Key Strategic Differentiators - STRATEGY BBAJAJ Allianz Continued focus on sustainable and profitable growth by maintaining balanced product mix and investment in retail growth engines ⚫ Business construct is to maximize custom er benefits while gaining market share in retail space, maintaining shareholder returns and continued focus on increasing New Business Value (NBV) DIFFERENTIATORS Diversified Distribution Strong proprietary channels Innovative products and Sustainable product mix Efficient Operations ■ Pan India distribution reach with presence over 509 branches Balanced channel mix including Banca, and BALIC Direct - Agency, Institutional Business Strong presence in online investments products & group credit protection segments ■ 3rd largest agency in terms of IRNB amongst private players in FY21 ■Robust BALIC Direct channel to invest in up-selling and cross- selling Diverse suite of products across various need segments, with an aspiration to provide our customers 'Best in class' features Innovative products & features like the new Guaranteed Pension Goal (Annuity), SISO** (ULIP SIP), Smart Wealth Goal (ULIP), Flexi Income Goal (Par), Smart Protect Goal (Term), Guaranteed Income Goal (Non Par) have witnessed strong response from the customers ■ End to end virtualization, Creating WOW moments Industry first and Best in class innovations **System atic in Systematic Out ☐ Focusing on faster issuances through various initiatives 34#35BALIC's - Summary on COVID-19 BAJAJ Allianz ☐ Despite the second wave of COVID-19 pandemic, BALIC reported industry beating Individual Rated New Business growth of 49% (vs both Q1 FY21 & Q1 FY20) & improvement in quality parameters. ☐ Impact of second wave was more severe as increased infection rate and partial lockdowns during first half of the quarter led to slow down in business for some channels but im proved sequentially During the quarter, company, in line with the industry trends, experienced deviation in expected mortality across the businesses on account of COVID-19 In the group protection and on the retail side, stress was observed with surge of claims during May & June; however, it is expected to subside given that vaccination and infrastructure are well in place to tackle any probable impact of wave 3 On the retail side, company has received over 1600+ claims pertaining to COVID-19 amounting to Rs. 117 crore. (on gross basis) Additionally, the company has reserved for probable COVID-19 claims; total reserve (net of reinsurance recovery) stands at Rs. 304 crore (vs Rs. 98 crore as of 31 March 2021) Pension & ULIP products have driven the growth for BALIC; demand for retail protection has slowed down a bit BALIC's Annuity product launched in Q4 FY21 has been received well in the market clocking 12% of Individual Rated NB in Q1 FY22 ■ 7% contribution of Term in Q1 FY22 is sequentially more than 4% in previous quarter i.e. Q4 FY21 With stable equity markets, demand for ULIPS continued to be steady & ULIPS contribution in Q1 FY22 was 39% (vs 37% in Q1 FY21) BALIC continues to hedge the Interest rate risk pertaining to retail guaranteed and protection products Continuous increase in adoption of self servicing tools by the customers; Whatsapp unique users increased by 50% in Q1 FY22 over Q1 FY21; while number of Life Assist App users grew by 51% during the same period Company is well capitalized with a Solvency at 648% as against minimum solvency requirement of 150% 35#36BALIC - Key Highlights Q1 FY 2021-22 BAJAJ Allianz Revenue Growth & Market Share Product Mix (IRNB Basis) Renewal Collection New Business Margins Profit after tax In Q1 FY22, IRNB grew by 49% (vs Private Players growth of 26% & LIC growth of 4%. Overall industry growth of 16%) ■ BALIC was the fastest growing LI (vs Q1 FY21 & Q1 FY20) among top 10 private players in this quarter ■ Market share in IRNB terms increased from 5.7% to 6.7% among Pvt. Players as we continue to offer complete product suite to the customers through our balanced distribution mix. ■ Par: Non-Par Savings: ULIP: Protection: Annuity (22% :20%:39 % :7%:12%); ■ Annuity product launched during Q4 FY21 continues to be a star performer contributed remarkably to our Product Mix in Q1 FY22 (12%) Registered a strong growth of 27% in Q1 FY22 ■ Witnessed strong growth in New Business Value (NBV) from Rs. -135 Mn (negative) in Q1 FY21 to Rs. 253 Mn in Q1 FY22 on account of better product mix, and higher business growth ■ Net New Business Margin (NBM)$ on Annualized New Business increased to 4.2% in Q1 FY22 from -3.4% in Q1 FY21 (business was severely impacted due to complete lockdown in Q1 FY21) PAT for Q1 FY22 decreased by 35% from Rs. 1,300 Mn to Rs. 840 Mn ■ On account of additional reserves held for COVID-19, which was partially offset by reversal of income tax provision of favorable CIT (Appeal) order of Rs. 1,609 Mn for past years and lower NB strain Source: IRDAI Monthly Business Figures, IRNB - Individual Rated New Business, EB - Existing Business, NB - New Business, $ - On 12 month rolling basis, NBM for the period ended Jun 21 is 12.8% vs 9.4% for the period ended Jun'20 36#37BALIC-Q1 FY22 Highlights CY 4,934 BAJAJ Allianz Performance Highlights of Q1 FY22 over Q1 FY21 All Figures in Rs. Million 7,621 12,195 25,155 49% 92% 27% 48% 3,306 3,974 9,579 PY 16,997 Individual Rated NB Group NB Renewal Premium Gross Written Premium CY 840 253 -35% >100 % PY 1,300 PAT -135 NBV 648% Solvency Ratio as at 30 June 2021 Individual Rated NB = (100% of first year premium & 10% of single premium excluding group products), NBV - Net New Business Value 37#38BALIC: New Business Value & New Business Margins BAJAJ Allianz Annualized Premium (ANP)* All Figures in Rs. Million Q1 FY22 Q1 FY21 Rolling 12M Rolling 12M FY21 FY22¹ FY212 5.960 3,993 31,190 22,595 29,223 Net New Business Value (NBV)** 253 -135 3,999 2,124 3,608 Net New Business Margin (NBM) on ANP 4.2% -3.4% 12.8% 9.4% 12.3% ☐ Since life insurance business is seasonal with large proportion of business written in Q4 and H2, rolling 12 months data is indicated for information only. This does not indicate a forecast or expectation for FY 22 ☐ NBV for the quarter has increased from negative Rs. 135 Mn in Q1 FY21 to positive Rs. 253 Mn in Q1 FY22 ☐ On 12 month rolling basis, NBV has increased from Rs. 2,124 Mn to Rs. 3,999 Mn on account of volume growth, change in product mix and other factors 1 Rolling 12M FY22 represents the business written between July 2020 to June 2021 2 Rolling 12M FY21 represents the business written between July 2019 to June 2020 **New Business Value represents discounted present value of expected net cash flows from new business written *ANP refers to annualized new business written during the year and is calculated by assigning a 10% weight to single premium and 100% weight to regular premium. Group Fund business is included in the definition of ANP 38#39BALIC Growth momentum continues 1 New Business 57,116 Renewals BAJAJ Allianz All Figures in Rs Million GWP 51,790 63,132 45,735 97,525 120,248 2 years CAGR at 13% 2 years CAGR at 22% 2 years CAGR at 17% 12,195 12,960 25,155 10,140 9,579 8,227 7,418 18,367 16,997 FY20 FY21 Q1 FY20 Q1 FY21 Q1 FY22 FY20 FY21 Q1 FY20 Q1 FY21 Q1 FY22 FY20 FY21 Q1 FY20 Q1 FY21 Q1 FY22 All the topline related metrics for BALIC continue to grow are well above the pre-COVID levels 39#40BALIC: Balanced product mix IRNB Mix BBAJAJ Allianz Share of Non-ULIP individualis increasing 41% 37% 39% 51% 60% Individual Unit Linked Individual Non Par Protection 5.9% 7% 17% 1.2% -0.5% 20% 20% 29% 9% Individual Non Par Savings Individual Annuity 33% 12% 1.6% Individual Par -0.1% 30% 28% 23% 22% 13% FY19 FY20 FY21 Q1 FY21 Group NB Mix Q1 FY22 Protection (Group) new business in Q1 FY22 - Rs. 3,257 Mn (vs Rs. 886 Mn in Q1 FY21) 41% 54% 58% 57% 78% Group Fund NB 59% 46% 42% 43% 22% FY19 FY20 FY21 Q1 FY21 Q1 FY22 IRNB - Individual Rated New Business - (100% of first year premium & 10% of single premium excluding group products). Note: The components might not add up to total of 100% due to rounding off Group Protection NB 40#41BALIC: Persistency Persistency 13th Month 80% 79% 77% Persistency 13th Month FY20 FY21 Q1 FY21 Q1 FY22 Persistency 37th Month 58% 63% 57% Persistency 37th Month 63% FY20 FY21 Q1 FY21 Q1 FY22 BBAJAJ Allianz Persistency 25th Month 82% 71% 71% Persistency 49th Month 54% 51% 49% 56% Persistency 49th Month FY20 FY21 Q1 FY21 Q1 FY22 69% Persistency 25th Month FY20 FY21 Q1 FY21 Q1 FY22 71% Persistency 61st Month 43% 40% 42% 40% Persistency 61st Month FY20 FY21 Q1 FY21 Q1 FY22 On account of lower base from Q1 FY21 and continued focus on renewal collection through various initiatives such as driving auto-payment registration, collection of high value (non persistent cases), digital payments, & higher distribution ownership (especially 13th & 25th month) have led to significant improvement in persistency across the cohorts. *Note: Persistency as per IRDAI framework | The persistency ratios for the period ended have been calculated for the policies issued in June to May period of the relevant years 41#42BALIC: Individual Rated New Business Whole Company Agency BAJAJ Allianz All Figures in Rs Million FY21 growth of 28% 24,676 19,271 FY21 growth of 1% 10,826 10,977 Q1 FY22 grow th is 49% Industry beating grow th 4,934 3,322 3,306 II Q1 FY22 grow th of 53% Agency continues to stride ahead with substantial grow th 2,378 1,845 1,554 FY20 FY21 Q1 FY20 Q1 FY21 Q1 FY22 FY20 FY21 IQ1 FY20 Q1 FY21 Q1 FY22 Institutional Business BALIC Direct FY21 growth of 77% FY21 Increase of 20% 11,085 Q1 FY22 grow th of 47% 2,614 Q1 FY22 grow th 2,177 of 39% 6,269 2,121 1,160 1,439 435 316 313 FY21 Q1 FY20 Q1 FY21 Q1 FY22 FY20 FY21 Q1 FY20 Q1 FY21 Q1 FY22 FY20 Individual Rated NB = (100% of first year premium & 10% of single premium excluding group products) 42#43BALIC: Diversified Distribution Mix Individual Rated New Business Mix 9% 11% 9% I 44% 43% 10% 11% 20% 33% 45% 69% 56% 44% 47% 48% Q1 FY22 BALIC Direct FY19 FY20 FY21 Q1 FY21 Agency Institutional Business BAJAJ Allianz ☐ BALIC embarked on diversifying its distribution mix, scaling up alternate channels and enabling wider presence by exploring alternate partnerships Reduced over reliance on Agency channel with agency contribution reducing from 92% in FY 15 to 44% in FY21 Within existing retail channels, focus is to drive profitable product mix; im prove sales productivity; drive cost efficiencies through hierarchical synergies, improving span of control and variabilization Agency: Focus on profitability and driving higher traditional Mix 3rd largest agency in private LI space; backed by 80K+ agents Traditional rated new business mix increased to 59% in FY21 from 49% in FY20 Variabilization of Agency cost through low cost models (11% contribution in Q1 FY22) Institutional Business: Building sustainable business through strong integration with partners Diverse mix of large and small partner banks, NBFC, brokers and web aggregators All major Bancassurance and Third Party Partners contributing to channel growth Strengthen our group relations with various corporate distributors to focus on selling retail Individual Rated NB = (100% of first year premium & 10% of single premium excluding group products) BALIC Direct : Analytics backed, focused verticals for upsell and cross sell initiatives Presence in 54 cities, with Dedicated Verticals for various custom er Segments ✓ Maturity ✓ Service to Sales ✓ Elite Relationship force Data and Analytics as a key pillar for Direct business 43#44BALIC Assets Under Management & Net Worth Rs Billion 561 AUM (Mix) 738 773 610 449 463 365 382 289 310 196 228 BAJAJ Allianz AUM as at 30 June 2021 grew by 27%; Grow th in UL AUM stands at 36%; Traditional AUM grew by 21% Of the UL Funds of Rs. 310 Bn., 69% is equity as on 30 June 2021 (58% as on 30 June 2020 out of the UL Funds of Rs. 228 Bn.) Rs Million FY20 FY21 Q1 FY21 Q1 FY22 Unit Linked Other than Unit Linked AUM Total Capital infused is Rs.12,107 Mn No Capital infusion since FY08 Net worth 97,307 107,355 108,768 101,201 95,248 85,200 89,094 96,661 12,107 FY20 12,107 FY21 12,107 Q1 FY21 12,107 Q1 FY22 Reserves & Surplus Networth Capital Invested * Accumulated profit includes reserves and fair value change on equity investments BALIC's accumulated profits are 89% of the Net worth as at 30 June 2021 44#45Digital Initiatives to offer best in class customer experience Smart Assist Co-Brow sing capabilities: First time in India Face-2-Face meetings NOW Screen-2- Screen (device agnostic platform customers) for New Business form filling via INSTAB screen sharing A Secured platform for application processing & online payment collection. Voice calling feature gone live 53,000+ business logins since launch by 9000+ unique users WhatsApp BAJAJ Allianz Real Time servicing Platform 130,000+ Transactions Done in Q1 FY22, an increase of 8% over Q1 FY21 109,000+ unique users in Q1 FY22, an increase of 50% over Q1 FY21 F-SERV i-Serve Award winning - Video Based Policy Servicing tool A total of approx. 27,000+ call volume since launch Available in 11 languages 160,000+ Sessions SMART done since launch # IC Insurance Consultants Few Other Initiatives: GYDE Whatsapp for ICs# Marketing Assist 45#46BALIC: Risk Management RISK MANAGEMENT Product Pricing BAJAJ Allianz ☐ Prudent assumptions while pricing. ☐ Stress and scenario testing performed at pricing stage Regular review of pricing based on prevailing interest. rates ☐ Asset Liability Management (ALM) Ongoing Risk Management ☐ ALM focused on cashflow matching & achieving an immunized portfolio ☐ Interest rate risk on the Individual Non-Participating and Annuity portfolio managed through partly paid bonds, and Forward Rate Agreements Prudent interest rate assumptions to ensure adequacy of statutory reserves condition monitoring, periodic ☐ Periodic product condition sensitivity & stress testing ☐ Regular monitoring of business mix ☐ Mortality risk is managed by diligent in-house underwriting, analytics driven risk scoring and appropriate reinsurance arrangements ☐ Additional provisions set out for COVID claim s 46#47Additional Information - BAGIC#48BAGIC: LOB Net Claim ratio & Growth (Major LOBS) BAJAJ Allianz Net Claim Ratio GDPI Grow th Line of Business Q1 FY22 BAGIC Q1 FY22 Industry Q1 FY22 Q1 FY21 Grow th Grow th$ Fire 80.5% 118.1% 11.0% 4.1% Marine Cargo 91.1% 77.3% 13.1% 30.6% Motor OD 56.4% 50.8% 11.0% 7.3% Motor TP 78.5% 79.7% 4.2% 0.5% Motor Total 68.9% 68.0% 7.1% 3.1% Engineering 68.4% 102.3% 26.9% 32.6% Personal Accident 40.4% 49.0% -12.5% 42.4% Health (retail group)** 119.6% 62.0% 22.6% 30.9% Crop -196.0% 84.5% -248.1% -56.1% Total 75.9% 68.1% 9.1% 11.1% Total (Ex Crop) 79.6% 67.8% 11.1% 13.3% - In Q1 FY22, mix of Health Portfolio i.e. Retail Health: Group Employer Employee: Group - Others: Govt. stands at 38:49:13:0 (vs 35:51:15:(1) in Q1 FY21) *Health includes Retail, Group and Overseas | PA includes retail and group business | Net Claim Ratio = Net claims incurred divided by Net Earned Premium | LOB trend for major LOB $ Industry growth for all lines except Health excluding SA HIs and specialized insurers. #Health grow th includes multiline insurers and standalone health insurers (specialized insurers excluded) 48#49Additional Information - BALIC#50BALIC: Regular Premium Ticket Size Whole Company BBAJAJ Allianz Non Par Savings All Figures in Rs. Q1 FY22 FY21 Increase of 92% increase of 33% 69,851 FY21 decrease of 6% 61,716 57,782 36,465 Q1 FY22 increase of 27% 39,929 36,579 31,555 27,437 FY20 FY21 Q1 FY21 Q1 FY22 FY20 FY21 Q1 FY21 Q1 FY22 Par Savings ULIPS 70,897 FY21 increase of 16% 82,161 61,633 Q1 FY22 FY21 Q1 FY22 increase of 48% decrease of 9% increase of 29% 91,059 113,191 102,959 105,798 81,775 FY20 FY21 Q1 FY21 Q1 FY22 FY20 FY21 Q1 FY21 Q1 FY22 50#51Disclaimer B BAJAJ FINSERV This presentation has been prepared by Bajaj Finserv Limited (the "Company") solely for your information and for your use. This presentation is for information purposes only and should not be deemed to constitute or form part of any offer or invitation or inducement to sell or issue any securities, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied upon in connection with, any contract or commitment therefor. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. The financial information in this presentation may have been reclassified and reform atted for the purposes of this presentation. You may also refer to the financial statements of the Company available at www.bajajfin serv.in, before making any decision on the basis of this information. This presentation contains statements that may not be based on historical information or facts but that may constitute forward-looking statements. These forward looking statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company presently believes to be reasonable in light of its operating experience in recent years but these assumptions may prove to be incorrect. Any opinion, estimate or projection constitutes a judgment as of the date of this presentation, and there can be no assurance that future results or events will be consistent with any such opinion, estimate or projection. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness, correctness or fairness of the information, estimates, projections and opinions contained in this presentation. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. This presentation does not constitute and should not be considered as a recommendation by the Company that any investor should subscribe for, purchase or sell any of Company's securities. By viewing this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company. Company, book running lead managers, their affiliates, agents or advisors, the placement agents, prom oters or any other persons that may participate in any offering of any securities of the Company shall not have any responsibility or liability whatsoever for any loss how soever arising from this presentation or its contents or otherwise arising in connection therewith. This presentation and its contents are confidential and should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. Viewing this information may not be lawful in certain jurisdictions. In other jurisdictions only certain categories of person may be allowed to view this information. Any person who wishes to view this site must first satisfy them selves that they are not subject to any local requirements which prohibit or restrict them from doing so. If you are not permitted to view this presentation on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage. 51#52Thank You B BAJAJ FINSERV