Axis Bank Limited — Capital/Financing Update 2021

Jan 21, 2021

AXIS/CO/CS/487/2020-21

21[st] January 2021

The Chief Manager (Listing & Compliance) The Senior General Manager (Listing) National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor 1st Floor, New Trading Ring, Rotunda Plot No. C/1, “G” Block Building Bandra-Kurla Complex P. J. Towers, Dalal Street Bandra (E), Mumbai – 400 051 Fort, Mumbai – 400 001

NSE Code: AXISBANK

BSE Code: 532215

Dear Sirs/Ma’am,

Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

This is with reference to our earlier disclosure letter AXIS/CO/CS/343/2020-21 dated 30[th] October 2020 on Axis Bank and its subsidiaries, i.e. Axis Capital Limited and Axis Securities Limited (together “ Axis Entities ”) entering into revised agreements with Max Financial Services Limited (“ Max Financial ”) for acquisition of upto 19.002% of the equity share capital of Max Life Insurance Company Limited (“ Max Life ”), a material subsidiary of Max Financial, to Axis Entities.

In this regard, we would like to inform you that the Competition Commission of India (“CCI”) has, vide its letter dated 20[th] January 2021, intimated that CCI, at its meeting held on 20[th] January 2021, considered the proposed combination and approved the first acquisition by Axis Entities under subsection (1) of Section 31 of the Competition Act, 2002 (“CCI Letter”). A copy of the CCI letter is attached herewith.

The transaction is subject to conditions precedent, including further regulatory approvals.

You are requested to take note of above and arrange to bring the same to the notice of all concerned.

Thanking you,

For Axis Bank Limited

Digitally signed by GIRISH GIRISH VASUDEVA VASUDEVAN KOLIYOTE N KOLIYOTE Date: 2021.01.21 19:22:56 +05'30'

Girish V. Koliyote Company Secretary

AXIS BANK

Legal & CS: Axis House, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai 400 025 Registered Address: "Trishul" - 3rd Floor, Opp. Samartheswar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380006. Telephone No.: 079-26409322 Fax No.: 079-26409322 CIN : L65110GJ1993PLC020769 Website: www.axisbank.com