Axis Bank Limited — Capital/Financing Update 2021

May 19, 2021

File No.: OFS/007/2021-22

Dated: May 19, 2021

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To

The Managing Director BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai-400 001

The Managing Director The National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai, India 400 051

Dear Sir/ Madam,

• Sub: Offer for sale of of equity shares of face value of ₹ 2.00 each (“Equity Shares”) of Axis Bank Limited (the “Company”) by the Specified Undertaking of the Unit Trust of India (“SUUTI” or the “Seller”), through ‘Offer for Sale of shares through the stock exchange mechanism’ intimated by way of notice on May 18, 2021 (“Notice”) read with corrigendum dated May 18, 2021 to the Notice (together with the Notice, the “Final Notice”).

We refer to the Final Notice sent by the Seller to the Stock Exchanges wherein, the Seller expressed intention to sell up to 36,000,000 Equity Shares, in aggregate representing 1.21% of the total issued and paid-up Equity Share capital of the Company, as on March 31, 2021, excluding Equity shares underlying depository receipts, (“ Base Offer Size ”) on May 19, 2021 (“ T Day ”) (for non-retail investors only) and on May 20, 2021 (“ T+1 Day ”) (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids), with an option to additionally sell up to 22,078,568 Equity Shares (representing 0.74% of the total issued and paid-up Equity Share capital of the Company as on March 31, 2021, excluding Equity shares underlying depository receipts) (the “ Oversubscription Option ” and in the event the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will in aggregate, be referred to as the “ Offer Shares ”. In the event such Oversubscription Option is not exercised, the Equity Shares forming part of the Base Offer Size will be referred to as the “ Offer Shares ”, through the separate designated window of BSE Limited (“ BSE ”) and National Stock Exchange of India Limited (“ NSE ” and together with BSE, the “ Stock Exchanges ”), collectively representing 1.95% of the total paid up equity share capital of the Company as on March 31, 2021, excluding Equity shares underlying depository receipts, and such offer hereinafter referred as the “ Offer ”).

In this regard, we wish to exercise the Oversubscription Option to the extent of 22,078568 Equity Shares (representing 0.74 % of the total issued and paid-up equity share capital of the Company as on March 31, 2021, excluding Equity shares underlying depository receipts) in addition to 36,000,000 Equity Shares of the Company, (representing 1.21 % of the total issued and paid-up equity share capital of the Company as on March 31, 2021, excluding Equity shares underlying depository receipts) forming part of the Base Offer Size. Accordingly, the total Offer Size will be up to 58,078,568 Equity Shares (representing 1.95 % of the total paid up equity share capital of the Company) of which up to 5,807,857 would be available as part of the Offer Shares for the Retail Category on T+1 day, i.e. May 20, 2021.

All capitalised terms not defined in this intimation letter shall have the same meanings as ascribed to them in the Notice.

Thanking You,

Yours faithfully,

On behalf of the Specified Undertaking of the Unit Trust of India

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________________ Authorised Signatory Name: Avinash Kumar Designation: Vice President