Life,Holistic Living: Delivering Superior Customer Experience

15 Protection Direct Banca 2 Product mix across key channels¹ - Post-Merger basis Segment FY20 FY21 FY22 H1 FY23 UL 32% 27% 29% 26% I Par 18% 37% 33% 29% I Non par savings 44% 30% 33% 37% I Agency Term 4% 4% 4% 3% Annuity 2% 2% 2% 4% FUL 33% 29% 28% 18% ¡Par 14% 17% 14% 19% I Non par savings 20% 16% 27% 32% I ¡Term 4% 3% 3% 3% Online³ I !Annuity 29% 35% 28% 28% Segment ¡UL FY20 FY21 FY22 H1 FY23 12% 10% 16% 11% I Par 34% 37% 33% 39% Non par savings 40% 39% 39% 39% Term 12% 11% 10% 7% | I Annuity 3% 3% 3% 4% UL 44% 39% 46% 50% Par 1% 1% 2% 2% I Non par savings 18% 29% 30% 33% Term 37% 30% 20% 10% I Annuity 1% 2% 2% 4% Segment FY20 FY21 FY22 H1 FY23 Company UL 28% 24% 26% 21% ¦ Par 19% 34% 30% 31% Non par savings 41% 31% 33% 37% ~40% of business with policy term <=10 years; ~17% of received premium in single-pay policies for H1 FY23 Term 8% 7% 6% 4% Annuity 4% 5% 5% 6% FY20 FY21 FY22 H1 FY23 !Based on Total APE 17% 13% 14% 16% Based on NBP 27% 20% 24% 32% 1. Based on 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 Annuity FY20 FY21 FY22 H1 FY23 Based on Total APE 4% 5% 5% 7% I Based on NBP 16% 20% 20% 23% Profitable distribution Diversified leading Market- Quality of growth insurance Reimagining Board and mix innovation management HDFC Life

View entire presentation