IDFC FIRST BANK LIMITED — M&A Activity 2021

Dec 30, 2021

December 30, 2021

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IDFCFIRSTBANK/SD/257/2021-22

National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C-1, G-Block Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) Dalal Street, Fort Mumbai 400 051 Mumbai 400 001 NSE Symbol: IDFCFIRSTB BSE Scrip Code: 539437

Sub.: Outcome of Board Meeting held on December 30, 2021.

Ref: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘SEBI Listing Regulations’).

Dear Sir/Madam,

We would like to inform that the Board of Directors of the Bank at its meeting held today, i.e. December 30, 2021, have considered the proposal for merger of ‘IDFC Limited’ and ‘IDFC Financial Holding Company Limited’ (“Promoter Group”) with ‘IDFC FIRST Bank Limited’ and have expressed that we are, in-principle, in favour of the above merger, subject to the approval of the Board of Directors, shareholders, creditors, statutory and regulatory approvals of the respective entities. The Board has constituted and authorized a committee namely ‘Capital Raise and Corporate Restructuring Committee’, to work on the terms of proposed merger including finalizing the Scheme, Valuation, hiring advisors etc. as required.

The details as required under SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 will be provided as and when the Scheme of Merger is finalized.

Request you to take the above on record.

Thanking you,

Yours faithfully, For IDFC FIRST Bank Limited SATISH ASHOK Digitally signed by SATISH ASHOK GAIKWAD GAIKWAD

Satish Gaikwad

Head – Legal & Company Secretary

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IDFC FIRST Bank Limited Naman Chambers, C-32, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Tel: +91 22 7132 5500 Fax: +91 22 2654 0354 Registered Office: KRM Tower, 7[th] Floor, No. 1, Harrington Road, Chetpet, Chennai 600 031. Tel: +91 44 4564 4000 Fax: +91 44 4564 4022 CIN : L65110TN2014PLC097792; E-mail : bank.info@idfcfirstbank.com; Website : www.idfcfirstbank.com