Project Inspire: 'Future Proofing' HDFC Life

2 Executive summary: Q1 FY24 Revenue & Scale Profitability & Cost $ Customer & Capital Growth 12% Individual % CY 26.2% ***** CY 87% New Business Margin (NBM)¹ PY 25.1% + 13th month persistency PY 87% WRP Market Share 16.4% Rs (Bn.) 58.0 Rs (Bn.) 6.1 Renewal premium VNB1 Growth 14% Growth 18% Claim settlement ratio (FY23) Overall 99.7% Individual 99.3% Rs (Bn.) 2,533 Rs (Bn.) 4.2 FY23 35 AUM Growth 19% Profit After Tax (PAT) Complaints per 10K policies³ Growth 15% FY22 25 Rs (Bn.) 418.4 Jun'23 200% CY 19.8% IEV EVOP 16.0% Total exp. ratio² Solvency4 Mar'23 203% PY 19.6% 1. 2. 3. 4. VNB and NBM for the pre-merger entity (excl. Exide Life) in Q1 FY23 was Rs 5.1 Bn and 26.8% respectively Total Expense Ratio is calculated as total expenses (including commission) divided by total premium Complaints data (excluding survival and death claims). Complaints per 10K policies on merged basis for FY22: 40 Excludes impact of proposed final dividend of Rs 4.1 bn, to be paid in Q2 FY24 (subject to shareholders' approval) Note: Q1 FY23 metrics across the presentation are on a merged basis and comparable to Q1 FY24 metrics HDFC Life

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