Investor Presentaiton

Consistent, predictable, sustained performance Holistic growth Consistent track record over multiple periods New business premium Renewal premium ~2X >2x 242 1.5x 218 ~3X 113 122 80 40 FY14 FY18 FY22 FY14 FY18 FY22 Protection APE² 13.2 >2x N4X 6.2 1.6 Annuity new business VNB FY18-22 >2X FY16-20 A>2.5x FY17-21 >2x 26.8 21.9 19.2 12.8 9.2 7.4 FY16 FY17 FY18 FY20 FY21 FY22 48.7 ~5X ~7X 10.7 1.6 FY14 FY18 FY22 FY14 FY18 FY22 AUM 13M persistency³ dd9+ ~ ~ +10pp 81% ~2X 2,042 71% >2x 1,066 506 Rs bn Embedded Value¹ FY18-22 ~2X FY16-20 >2x FY17-21 >2x 300 266 207 152 125 87% 102 Mar 31, 2014 Mar 31, 2018 Mar 31, 2022 FY14 FY18 FY22 1. Including cash payout of Rs 7.3 bn for acquisition of Exide Life, but excluding Exide Life's EV of Rs 29.1 bn 2. Based on Overall APE 4 3. Excluding single premium FY16 FY17 FY18 FY20 FY21 FY22 HDFC Life

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