#1A ICICI Securities Investor Presentation#2ICICI Securities: At a Glance (FY19-FY22) Total Client Assets 2.43 tn1*5.64 tn¹ Wealth Client Assets 30.99 tn2→ 72.86 tn2 Client Base 4.43 mn 7.56 mn 32% CAGR 42% CAGR 19% CAGR Revenue Profit After Tax 17.3 bn *34.4 bn 4.9 bn 13.8 bn 26% CAGR → 41% CAGR 0.45mn 2.27 mn Highest ever in a year Client Acquisition → NPS Score³ 20.8% 39.5% India's trusted brand for financial services from the house of ICICI Business in Transformation: E-Broker to Wealth-tech Platform Return on Equity 65% For FY22 One of the Largest Wealth Franchise in the country Dividend 9.4 24.0 37% CAGR Over 50% Consistent Payout Meaningful market share across segments Leading and Established Institutional Franchise Responsible Franchise committed to purposeful ESG Agenda Sustained Financial Performance and Shareholding Returns 1. Assets of our clients including equity demat assets maintained with ICICI Bank and excluding promoter holding, as on Mar, 31 2022 and Mar, 31 2019 2. Assets of our clients with more than INR 10 mn AUM at individual level including equity demat assets maintained with ICICI Bank and excluding promoter holding, as on Mar, 31 2022 and Mar, 31 2019 3. For Q4 FY20 and Q4 FY22 2#3Pivots of Transformation: From E-Broker to Wealth-Tech Platform E-Broker Inception - FY20 Wealth- Tech FY20 - FY22 KEY OUTCOMES Strategy Product Focused Approach Customer 360 Degree Approach Scale up of Wealth Franchise Diversified Customer Base Dependent on ICICI Bank for customer sourcing Adopted Open Architecture Increase in New Client Acquisition • Diversification in Client Base . Diversification in Revenue Increased Product Offerings Technology, Analytics & Culture 0 Significantly dependent on Retail and Institutional Equity Physical Process & onboarding Website Oriented "Build in-house" approach Embracing opportunity in savings & investments, distribution of loans & insurance Granularize & texturize equity revenue Digital acquisition & Online process Offerings across Website and Apps Agile Approach Hyper-Personalization Traction in Cross Sell Meaningful Market Share across various segments Launch on new Digital Properties and addition of digital experiences 3#4Pivots of Transformation: Scale up of Wealth-Tech Platform A Wealth Client* Assets * 2.86 tn Crossed 3 tn as of Q2FY23 Clients* 68,000+ Revenue * 9,242 mn 27% of total revenue Team Strength 500+ Cost/Income 45% Crossed 71,000 as of Q2FY23 Partnering clients through their financial journey by offering holistic solutions Investments Insurance Borrowing Wealth Creation Wealth Preservation Wealth Transfer Micro Segmentation to identify Customer Architypes/Personas Need Identification and Data Analytics for customized engagement Bespoke and Holistic solution based on Personalization Omni-channel Engagement through RM, digi-assist, Platform Ecosystem Approach * With AUM of INR 10 mn+ with ISEC Data as of FY22 4#5• Pivots of Transformation: Scale up of Wealth-Tech Platform Strong Acquisition Machinery Deeper mining of existing clients with enhanced proposition to improve the wallet share, resulting in upgrade to "Wealth Segment" New to ISEC clients Increasing Client Base 32,994 Clients demonstrating high Persistency 68,136 • > 98%* client retention • Average AUM Persistency of ~120%* • • Average Revenue Persistency of -110%* ARPU increases with vintage FY20 FY22 • Customers >5 year vintage contributes: 60% of revenue 65% of AUM COUPLED WITH Consistent increase in Revenue Sustained improvement in AUM 9.24 In Bn In Tn 2.86 Newly acquired clients (FY20 onwards) demonstrating better characteristics Cust. Acquired before FY20 Cust. Acquired FY20 onwards 2 X 2.59 0.83 ARPU ~0.1 Mn ~ 0.2 Mn AUM -35 Mn 1.7 X 2 - 60 Mn FY20 FY 22 FY20 FY 22 5 * Calculated by taking average of 1 year retention across 7 periods (FY15-FY22)#6Pivots of transformation: Diversification and Cross-Sell Diversification of Revenue 8% Other 856 3 14% 7% 25% 5% 10 18% Investment & Trading Issuer Services & Advisory Distribution Income 65% Allied Income 38% Broking Revenue ('000) 83 Scaling up New Client Acquisition by adding sourcing channel 462 Other Business Partner Digital Sourcing ICICI Bank Q1-21 Q2-23 Increase in Customers with 2 or more products mn 0.95 1.19 Q1-21 Q2-23 Q1-21 Q2-23 Acquiring young customers from newer geographies Q1-FY21 Q2-FY23 ICICI bank sourcing % 58% 29% Clients <30yrs age 38% 66% Clients from tier II & III 67% 84%#7Pivots of transformation: New Digital Properties & Propositions All in one Super APP Markets App for Traders iLearn App A Q Search & place order Hi Nitin, Discover Products Dark Mode 940 Scan for Web Login NIFTY 50 15879.65 +61.40 (+0.39%) Stocks Futures & Options Mutual Funds My Watchlist Predefined Watchlist 1 Stocks Futures & Options Mutual Funds Com Commodity Currency FD & Bonds ICICIBANK BSE A NIFTY50 SENSEX BANKNIFTY 17,512.25 +25.3(0.14%) 59,107.19 +146.59(0.25%) 40,373.20 +54.45(0.14%) SENSEX 53054.76 +193.58 (+0.37%) Indices Global Indice 7/50 Q Infographics Relish a visual learning treat 653.65 +3.10 (+0.48%) a ne RELIANCE 91.00 NSE 26 Aug 2100 CE hmm Explore by Products 64865 views -9.15 (-9.14%) Insurance IPO Markets in Action Margin Funding Zer Never miss a good investment opportunity Free in in Research Global Invest At Your Service Invest Now Reg Smart Tools More View All Create Alert Stock SIP Share As Never miss an investment Invest in stock over time 4 Lakh+ cust using Limits Version 1.0.2(9) ICICI direct.com Investments at Your Fingertips Allocate funds OOO <3 000 000 000 Home Watchlist Portfolio Orders Menu Home Watchlist Portfolio Orders Menu NIFTY NSE 15 Jul 16000 CE TATASTEEL NSE EQ INDIA VIX NSE EQ 55.00 000 +17.60 (+47.06%) Stocks Mutual Funds 1218.65 Futures and Options +51.40 (+4.40%) Shorts 12.21 BANKNIFTY NSE FUT 29 Jul Nifty 50 NSE EQ www -0.07 (-0.57%) 35896.80 +219.40 (+0.61%) 15879.65 +61.40 (+0.39%) Articles Recently Added D Videos Podcasts ficier direct.com View All > 38876 views > חו DEMAT Xpert View iCommunity Home The Quiz Open Account S#8Pivots of transformation: New Digital Properties & Propositions Easy Options Where do you think NIFTY will go Up or Down? E-ATM Industry 1st feature providing instant liquidity within 5 minutes of Cash sell Down 16128 Drag▸ 15628 16628 Sentiment Indicator 45% By When? 55% This Week LO > 07-Jul-2022 Next Week > 14-Jul-2022 This Month > 28-Jul-2022 Up Buy Now Pay Later Margins Finance Trading facility One Click Equity & Mutual Fund Readymade research solutions; Easy to transact & invest with few-click check out 1 ICICI direct Global In partnership with Interactive Brokers Best in Class platform providing access to 6 major overseas market; curated portfolios#9Pivots of transformation: Meaningful market share across segments 10.6% Retail equity 8.2% NSE Active 23.0% Leadership position in MTF 7.6% Incremental Demat Account 3.7% Retail derivative 1.7% Mutual Fund AUM 5.5% Commodity 3.2% SIP 5.6% Sovereign Gold Bond -10% ETF Market Share As of Q2FY23#10Way Forward Opportunity Growing digital natives cohort Digital native Population distribution (in millions) _ population -LI 2026 467 120 354 262 224 2021 476 106 347 237 189 ■0-19 yrs ■Gen Z (20-24 yrs) ■Millennials (25-39 yrs) Gen X (40-54 yrs) ■> 55 yrs Digital natives comprising GenZ and Millennials are expected to increase by 15 mn - 20 mn annually for next 10 years Improving digital infrastructure... Digital India led by "Aadharisation" Internet users 622 mn, 43% of population Mobile connection: 1.2 billion³; 79% of the total population Low data cost ܀ Capital flowing into fintech driving innovation Source: Census of India, Kantar, 2020, IMF, BCG # of cities Widely spread affluence across India & Bharat... 2016 2025 270 64 48 0 > 40% 21-40% % Share of affluent households Cities/towns with over 20% of population having annual household income greater than 1 mn will increase to 318 from 642 Increase in India's financial Assets 2025 2020 10% CAGR $ 5.5 tn $ 3.4 tn#11Scale up Wealth-Tech and become NEO Financial Services Marketplace Two distinct customer segments are emerging, with different characteristics and needs Wealth & Affluent Young Indians · . Micro-Segment to provide Hyper-Personalized solutions Portfolio Approach Holistic solutions across lifecycle financial needs Lifestyle and Loyalty programs RM driven/ assisted omni-channel approach Experiential Personal Finance Management digital proposition Interactive Learning and "Simulator" Marketplace approach to provide entire bouquet of Investments, Loans & Insurance Investor Networking capabilities • Do It Yourself/ Call center#12Summary ✓ Transformed from an E-Broker to Wealth-tech Platform Key Outcomes of Transformation Emerged as one of the largest independent wealth managers in the country ✓ Diversification in Revenue and Customer Base, Increase in Client acquisition and Traction in Cross-Sell ✓ Launched new Digital Properties and enhanced propositions and experience ✓ Meaningful market share across segments ✓ Under-penetrated Indian Opportunity ahead; two distinct customers segments are emerging Way Forward: Scale up Wealth-Tech and become NEO Financial Services Marketplace ✓ Investing in: ✓ Technology ✓ Innovative Product Proposition ✓ Brand Building and Marketing and ✓ Augmenting Talent#13A ICICI Securities Appendix#14• • . • Leading Institutional Franchise ISSUER ADVISORY AND SERVICES Bloomberg Quint Advised on over 125+ transactions since April 2020 M&A & INSTUTIONAL BROKING HOUSE RESEARCH & STRATEGY 30+ sectors: 89 of top 100 cos covered Large team: 30+ professionals Leading Investment Bank IPOS, FPOS, REITS & INVITS Transactions worth INR -3.7 Tn Part of every 2nd IPO launched Experienced Deal Team Strong sector team with experience across sectors Strong deal pipeline across advisory and IPO First Indian Lead Manager to Top Equity Table ICICI Securities #1 Equity Capital Market House in FY2021 We thank all our med cle for the faith placed in us ICICI Securities Ranked #1 Equity Capital Market House ICICI Securities We thank all our esteemed clients for the fath placed in ut - IPO/FPO REIT/INVIT 54 Issues INR 1,817 Bn Rights Issue & Structured Finance 15 Issue -INR 840 Bn Private Equity 10 Transactions INR 307 Bn - QIPS/OFS/ Pref. 34 Issues • • . -INR 993 Bn SALES Bandwidth across US, EU/UK, APAC & India 12 member team catering to 200+ DII's & 150+ FPIs TRADING Services across Cash, Derivatives, DMA • Chinese wall between DMA & Cash Among the leaders in market share for DII's & FPI's Strong Research & Institutional Reach Institutional Investor reach through Sales & Research team A Source: Prime Database COUNTRY AWARDS 2022 FinanceAsia Best Private Bank in India 2022 ASIAMONEY Best Securities House in India 2021 & 2022 Largest M&A Deal Maker in 2020 & 2021 Open Offer/ Buyback/ Delisting Block Transactions 13 7 Transactions ~INR 387 Bn Blocks ~INR 87 Bn CORPORATE ACCESS CXO level reach with 500+ corporates Yearly conferences in APAC, US Flagship Bengaluru Day, Financials, ESG & sectorial conferences in India 14#15• Responsible Franchise committed to a purposeful ESG Agenda Board approved ESG framework articulating our approach of conducting business sustainably managing ESG related aspects (link). Executive level ESG Forum comprising of cross functional heads . Enhanced ESG disclosure in our ESG Report BUSINESS ETHICS & GOVERNANCE • • • Segregation of Board and Executive Management 50% independent directors on board, 100% independent directors in audit committee* Imbibing strong ethical culture in the organization through comprehensive policies on Code of Conduct and Business Ethics, AML, POSH amongst others DATA PROTECTION Information Security Management Policy and Cyber Security & Cyber Resilience Policy in place to protect against cyber-attacks, threats & vulnerabilities Personal Data Protection Standard to increase employee awareness of data protection, acceptable data handling practices 1 • • • POSITIVE IMPACT CSR & SUSTAINABLE DEVELOPMENT Sustainable livelihood Health Care Services Contribution to Incubators for support to Startups and R&D Towards a more inclusive society Environmental conservation HUMAN CAPITAL • Human rights policy • Diversity, Equity and Inclusion Policy • Training, Development and Mentoring Committed to creating a meaningful and positive impact 15 ESG Framework link: https://www.icicisecurities.com/UPLOAD/ARTICLEIMAGES/ESG_Framework.pdf *As on July 21, 2022 considering new Directors' appointment#16. • . ESG Snapshot ENVIRONMENTAL FOOTPRINT Target to reduce energy consumption by 20%, Paper Consumption by 35% & Travel by 35% over FY25 over FY19 baseline Total of Scope 1, 2 & 3 emission reduced by 49% over FY19 baseline Gold Certification from the US Green Building Council for our new Prabhadevi location HUMAN CAPITAL 4094 permanent employees 28% females in new hires Average training hours increased by 46% YoY to 60 per employee/annum Articulated formal value proposition 'PLEDGE' for employees 1 ICICI Securities ICICI • • CORPORATE SOCIAL RESPONSIBILITY 2 Lac Lives impacted 22 R&D start-ups incubated 5,00,000 litre drinking water treated daily 15,000 saplings planted across 30 villages National CSR Award in Financial Services Sector - '9th Edition Global Safety Summit Awards partnered by Forbes India & UN Global Compact network India RESPONSIBLE INVESTMENT Integrated ESG risks when making proprietary investments Refrain from investing into certain sensitive sectors Sustainable development of Financial and Capital markets through ESG based MF offering 16#17Awards Best Wealth Management Provider - India - 2021 By World Finance, Wealth Management Awards 2021-22 'Best Content Digital Marketing Campaign' By 'Investonomics at Digital Dragons Awards, 2021' The Best Securities House in India By AsiaMoney Best Securities Houses Awards 2021 Best private bank - India Finance Asia Country Awards, 2022 'National CSR Award in Financial Services Sector' By 'Global Safety Summit Awards' Best Wealth Management Platform Of The Year Quantic Annual Bfsi Technology Excellence Awards 2022 Best Domestic Private Bank - India Asian Private Banker, Awards for Distinction 2021 'Digital Wealth Manager of the year- India' By 'The Asset Triple A Digital Awards 2022' Research team secured #1 position in 4 sectors in Asiamoney poll Company Advisor of the Year' By 'Franklin Templeton at Perspectives Awards, 2021' A 17 1. Assets of our clients including equity demat assets maintained with ICICI Bank and excluding promoter holding 2. Yield generated on all the assets of our clients (assets include their holding value across all product categories e.g. demat holding of equity shares, home loan, FD, mutual fund, PMS etc.)#18Eminent and Experienced Board Mr. Vinod Kumar Dhall Chairman Independent Director Mr. Ashvin Parekh Independent Director Mr. Subrata Mukherjee Independent Director Ms. Vijayalakshmi lyer Independent Director Dr. Gopichand Katragadda Independent Director Mr. Prasanna Balachander Non-Executive Director Mr. Rakesh Jha Non-Executive Director Mr. Vijay Chandok MD & CEO Mr. Ajay Saraf Executive Director . 9 eminent professionals as Directors with varied backgrounds, pioneers in respective fields Well structured performance evaluation process for its Directors including MD & CEO 5 Mandatory Committees and 14 Non-mandatory Committees with specialized functions including Risk Management Committee & CSR Committee 1 • Dr. Gopichand Katragadda has been appointed as an Independent Director w.e.f. August 26, 2022 18 Mr. Rakesh Jha has been appointed as a Non-Executive Director w.e.f. September 26, 2022, subject to Regulatory approvals.#19Key outcomes: Customer Assets (in tn) 2.4 Consistent increase in Total Assets over long term 1 (in tn) 5.6 5.6 5.8 5.1 5.3 4.4 3.8 3.4 2.9 Leading wealth manager in the country with steady increase in Wealth AUM 2 3.1 2.8 2.9 2.8 2.5 2.0 1.7 1.5 1.2 1.0 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 (in bn) ISEC PMS Scaling up 4.5 3.7 2.9 2.2 1.3 1.6 1.7 7.8 7.2 10.9 (in bn) Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 A Growing MF Assets demonstrating strong distribution franchise 3 586 554 566 561 527 479 443 412 377 343 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 * 5.8 trillion Client Assets 1. Assets of our clients including equity demat assets maintained with ICICI Bank and excluding promoter holding 2. 3. Assets of our clients with more than INR 10 mn AUM at individual level including equity demat assets maintained with ICICI Bank and excluding promoter holding, as on Sep, 30 2022 AUM including direct 19#20Sustainable financial performance (bn) Secular trend of overall revenues 18.6 17.3 17% CAGR 34.4 25.9 17.2 (bn) 0.7% (tn) Consistent yield on client assets¹ 0.8% 0.6% 0.6% 26% CAGR 3.8 2.4 2.2 2.1 1.8 5.6 0.7% FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 Growth in PAT across cycles 41% 27% 23% 24% 17% 13.8 10.7 5.5 4.9 5.4 FY18 FY19 FY20 FY21 FY22 PAT 3 Year PAT CAGR 0.6% Business model has remained secular as seen by rolling 3 year periods with a minimum of 17% PAT CAGR The company has displayed capabilities to scale down cost and maximize profit during tough times Free cashflow generating digital business model 1. Yield generated on all the assets of our clients (assets include their holding value across all product categories e.g. demat holding of equity shares, home loan, FD, mutual fund, 20 PMS etc.)#21A ICICI Securities Thank You