Investment Opportunity in True North Fund VII

Focus Sectors: Financial Services Experience & Performance Evaluated Deployed Exits Realized Returns on Exits¹ Network homefirst K Over 400 deals $600m across 15 deals 12 deals (incl. partial) 2.4x MoIC | 24% Gross IRR Extensive footprint across the spectrum Healthcare Insurance/ Distributor Multi Product retail NBFCs / Banks niva Bupa Health Insurance ICICI Lombard -GENERAL INSURANCE- policy bazaar Compare Buy Save INFINITY CORP IDFC FIRST Bank Centurion Bank of Punjab KVB) Karur Vysya Bank Smart way to bank FEDBANK FINANCIAL SERVICES LIMITED com Roster of 150+ CEOs/ CXOs • Acquired controlling stake (74%) in '17 post demonetization Home Loans home first Micro Finance MAGMA Fincare • Acquired controlling stake (74%) in '10 Only Private Equity controlled platform to receive banking license (2017); Stake reduced when it became a Small Finance Bank (SFB) fincare • Perhaps one of the best built SFBS • True North continues to be largest shareholder 38% CAGR in AUM since investment; 1.5million+ customers, 570 outlets, operating in 12 states com Centurion Bank of Punjab IPOs/ Public Market Sale Diversified Exit Routes homefirst policy bazaar Ckotak Kotak Mahindra Bank Compan. Buy Save (TN-VI) KVB Karur Vysya Bank Smart way to bank MAGMA IDFC FIRST ICICI Lombard Bank -GENERAL INSURANCE- • ° One of the few PE funds to own majority in in a Housing finance company Two level jump in rating within 90 days of investment; Doubled the number of lending relationships; Deepened their distribution and built a new product AUM increased by 5x+ in 5 years at 40% CAGR Pre-IPO sale (30% holding) to Warburg in '20; TN is still the largest shareholder Extensive support through IPO process in '21 Delivered Return Profile on Exits 12 IRR: >25% homefirst policy bazaar Compan. Buy Save (TN-V & TN-VI) IRR: 15%-25% fincare (TN-IV & TN-V) IRR: <15% Confidential 1Returns before fees, expenses & Copyrights Reserved © GP share of Profits IDFC FIRST Bank MAGMA 2Represents exits on investments above INR 50 Cr 16 Strategic Sale Centurion Bank of Punjab Financial Sale fincare homefirst (TN-IV & TN-V) policybazaar(TN-V) Above information captures investments managed & advised by TN Compun Buy Save truenorth 0 For ICICI Securities Clients Only

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