Reimagining Growth with Resilience

23 Protection Direct Banca 2 Product mix across key channels¹ Segment FY19 FY20 FY21 FY22 Segment FY19 FY20 FY21 FY22 UL 64% 32% 27% 29% ¡UL 26% 12% 10% 16% I I Par 13% 18% 37% 33% I Par 40% 34% 37% 33% I Non par savings 17% 44% 30% 33% Non par savings 17% 40% 39% 39% Term 4% 4% 4% 4% Term 12% 12% 11% 10% Annuity 3% 2% 2% 2% Annuity 5% 3% 3% 3% ¡UL 50% 33% 29% 28% UL 62% 44% 39% 46% ¡Par 8% 14% 17% 14% I Par 2% 1% 1% 2% I Non par savings 12% 20% 16% 27% I Non par savings 1% 18% 29% 30% I ¡Term 6% 4% 3% 3% Term 35% 37% 30% 20% I I I !Annuity 24% 29% 35% 28% Annuity 1% 1% 2% 2% Segment FY19 FY20 FY21 FY22 Company UL 55% 28% 24% 26% ¦ Par 18% 19% 34% 30% Non par savings 15% 41% 31% 33% ~40% of business with policy term <10 years; ~20% of received premium in single-pay policies since launch of Sanchay Fixed Maturity Plan Term 7% 8% 7% 6% Annuity 5% 4% 5% 5% FY19 FY20 FY21 FY22 !Based on Total APE 17% 17% 13% 14% Based on NBP 27% 27% 20% 24% 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 FY19 FY20 FY21 FY22 Based on Total APE 4% 4% 5% 5% I Based on NBP 17% 16% 20% 20% Profitable distribution Diversified growth mix innovation leading Market- Quality of insurance Reimagining management Board and HDFC Life

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