Capital First Investor Presentation September 2018

c. Cost to Income Ratio Section 8: Profitability & Capital Bank has reduced Cost to Income ratio from 95% to 72% in 4 years • During the last three years the bank had to make significant investments in building liabilities and credit card franchise • Despite this, the cost income ratio has come down from 95% to 72% because of the strong incremental unit economics at the bank which is allowing the bank to make the investments to build the Bank. . Cost to income will further come down with scale 95.1% 85.2% Core Cost to Income (excluding Trading Gains) Ratio % 78.8% 77.8% 76.9% 72.5% 71.9% Q2 FY19 H2 FY19 FY20 FY21 FY22 FY23 (Pre-Merger) 51 Q1 FY24 IDFC FIRST Bank

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