Bajaj Allianz Corporate Update

BALIC: Diversified Distribution Mix Individual Rated New Business Channel-wise Mix 11% 9% 9% 8% 8% 45% 50% 51% 49% 46% 44% 40% 41% 43% 46% B BAJAJ Allianz LIFE GOALS. DONE. Balanced mix between institutional and proprietary retail channels - Agency, Institutional Business and BALIC Direct contributing approximately 46%, 46% and 8% respectively in Q1 FY24 (in IRNB terms) Within existing retail channels, focus is to drive profitable product mix; improve sales productivity; drive cost efficiencies through hierarchical synergies, improving span of control and variabilization FY21 FY22 FY23 Q1 FY23 Q1 FY24 Agency Institutional Business BALIC Direct Agency: Focus on profitability and driving higher traditional Mix One of the largest agency in private LI space; backed by 1.31 Lakh+ agents Continued balanced product mix with traditional individual rated new business mix at 57% in Q1 FY24 Variabilization of Agency cost through low-cost models (15% contribution in Q1 FY24 vs 11% in Q1 FY23) Institutional Business: Building sustainable business through strong integration with partners Diverse mix of large and small partner banks, NBFC, brokers and web aggregators Robust start with recent new Corporate Agency tie-ups with Development Bank of Singapore, City Union Bank, TamilNad Mercantile Bank, Punjab & Sind Bank, and Jammu & Kashmir Bank ☐ Opening of Rep Office in Dubai Individual Rated NB = (100% of first year premium & 10% of single premium excluding group products) *Note: The components might not add up to total of 100% due to rounding off BALIC Direct : Analytics backed, focused verticals for upsell and cross sell initiatives Presence in 196 cities, with Dedicated Verticals for various customer segments ✓ Customer Portfolio Management ✓ Service to Sales ✓ Hub and Spoke ✓ New to BALIC (NTB) ✓ Defence Data and Analytics as a key pillar for Direct business 39

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