Investor Presentaiton

Business (VNB) 16.05 Way forward billion Value of New Aspire to double the FY2019 VNB by FY2023 FY2020 VNB 7 billion FY2021 9M-FY2022 28% CAGR 26.50 16.21 13.88 16.05 16.21 13.28 VNB growth 20.9% 1.0% 34.8% VNB margin 21.7% 25.1% 27.1% FY2019 FY2020 FY2021 FY2022 FY2023 Premium growth: Diversified product & distribution mix to aid growth Protection: Short term headwinds in retail business, expect to maintain the sequential momentum and increase attachment of riders Persistency: Continued improvement to aid product margins Productivity: Target operating leverage with growth in premium ICICI PRUDENTIAL LIFE INSURANCE 1. For full year, based on actual cost; 9M: based on management forecast of full year cost 11

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