Axis Bank Regs Regulatory News (AXB)

AXIS/CO/CS/576/2021-22

January 25, 2022

Dear Sir(s),

SUB: RE-APPOINTMENT OF RAKESH MAKHIJA AS THE NON EXECUTIVE (PART-TIME) CHAIRMAN OF AXIS BANK LIMITED ("THE BANK").

REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS").

This is to inform you that based on the recommendations made by the Nomination and Remuneration Committee of Directors, the Board of Directors of the Bank at its meeting held today i.e. January 25, 2022 approved the re-appointment of Rakesh Makhija (DIN: 00117692), as the Non-Executive (Part-time) Chairman of the Bank, including the terms and conditions and his remuneration, with effect from July 18, 2022 upto October 26, 2023 (both days inclusive), subject to the approval of the Reserve Bank of India ("the RBI") and the Members of the Bank, in terms of the Companies Act, 2013, the Banking Regulation Act, 1949, and the rules, guidelines and circulars issued by the RBI, from time to time, and the SEBI Listing Regulations.

The brief profile of Rakesh Makhija is attached herewith as Annexure A.

Please note that Rakesh Makhija is not related to any other Director or Key Managerial Personnel of the Bank. He is also not debarred from holding the office of a Director by virtue of any order passed by SEBI or any other Regulatory/ Statutory authority.

This is for your information and records.

Thanking You.

Yours Sincerely,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

Annexure A

Rakesh Makhija aged 70 years, is an Independent Director on the Board of Axis Bank Limited since October 27, 2015.

During his career spanning over four decades, Rakesh Makhija has been an active contributor to the Industrial and Technology sectors, both internationally and in India. Rakesh Makhija has held a number of top management positions within the SKF Group. He was the President for the Industrial Market (Strategic Industries) and a member of the Group Executive Committee, based in Gothenburg, Sweden. Prior to this, he was President of SKF Asia with overall responsibility for China and India based in Shanghai. He was the Managing Director of SKF India from 2002 till 2009. He was recipient of the prestigious 'CNBC Business Leader Award for Talent Management' in 2007.

Prior to joining SKF, Rakesh Makhija was the CEO and Managing Director of Tata Honeywell Limited. He was subsequently appointed as the Country Manager and Managing Director of Honeywell International, with responsibilities for company's business in South Asia. Prior to Honeywell, Rakesh Makhija worked with Kinetics Technology International BV (now Technip), a process engineering and contracting company in the Netherlands for over eight years.

Rakesh Makhija is a Chemical Engineer from the Indian Institute of Technology, New Delhi. He also serves on the Board of Castrol India Ltd and A. Treds Limited.