Multi-Pronged Risk Management and Protection Philosophy

Protection Direct Banca 2 Product mix across key channels¹ Segment FY19 FY20 FY21 Q1 FY22 UL 64% 32% 27% 30% I Par 13% 18% 37% 34% I Non par savings 17% 44% 30% 29% Term 4% 4% 4% 5% Annuity 3% 2% 2% 2% ¡UL 50% 33% 29% 27% ¡Par 8% 14% 17% 13% I Non par savings 12% 20% 16% 22% I ¡Term 6% 4% 3% 4% !Annuity 24% 29% 35% 34% Company FY19 FY20 FY21 Q1 FY22 Basis APE 17% 17% 13% 16% Basis NBP 27% 27% 20% 22% L Online3 Agency Segment FY19 FY20 FY21 Q1 FY22 ¦UL 55% 28% 24% 27% Par 18% 19% 34% 29% Non par savings 15% 41% 31% 32% Term 7% 8% 7% 8% Annuity 5% 4% 5% 5% 1. Basis Individual APE, Term includes health business. Percentages are rounded off 2. Includes banks, other corporate agents and online business sourced through banks / corporate agents 3. Includes business sourced through own website and web aggregators 18 Annuity Segment FY19 FY20 FY21 Q1 FY22 ¡UL 26% 12% 10% 13% | Par 40% 34% 37% 29% Non par savings 17% 40% 39% 41% Term 12% 12% 11% 13% Annuity 5% 3% 3% 3% UL 62% 44% 39% 39% Par 2% 1% 1% 1% I Non par savings 1% 18% 29% 29% Term 35% 37% 30% 29% I Annuity 1% 1% 2% 2% FY19 FY20 FY21 Q1 FY22 Basis APE 4% 4% 5% 6% I Basis NBP 17% 16% 20% 26% HDFC Life Profitable growth mix distribution Diversified leading Market- Quality of insurance Reimagining Board and innovation management

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