Axis Bank 144a Regulatory News (AXBA)

AXIS/CO/CS/159/2021-22

2nd July, 2021

Dear Sir(s),

SUB: APPOINTMENT OF JOINT STATUTORY AUDITORS OF AXIS BANK LIMITED (THE "BANK").

REF: REGULATION 30 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURES REQUIREMENTS) REGULATIONS, 2015.

This is to inform that, in terms of guidelines issued by the Reserve Bank of India on 27th April, 2021 on appointment of Statutory Central Auditors (SCAs) / Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) [the "RBI Guidelines"], the Board of the Directors of the Bank (the "Board") today has approved the appointment of M/s. M. P. Chitale & Co., Chartered Accountants, Mumbai, (Firm Registration No. 101851W) and M/s. CNK & Associates LLP, Chartered Accountants, Mumbai, (Firm Registration No. 101961W/ W100036), as the Joint Statutory Auditors of the Bank, in place of M/s. Haribhakti & Co. LLP, Chartered Accountants, Mumbai (Firm Registration Number 103523W/W100048), retiring Auditors of the Bank, and to hold office as such from the conclusion of the Twenty Seventh Annual General Meeting of the Bank until the conclusion of the Thirtieth Annual General Meeting of the Bank, and on such terms and conditions, including remuneration, as may be approved by the Audit Committee of Board of the Bank, subject to approval of the RBI every year and the Shareholders of the Bank at the 27th Annual General Meeting of the Bank to be held on Friday, 30th July 2021.

The Brief profiles of Joint Statutory Auditors are enclosed herewith as Annexure A.

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

Thanking You.

Yours Sincerely,

For Axis Bank Limited

Girish V. Koliyote

Company Secretary

Encl.: As above

Annexure A

Brief profiles of Joint Statutory Auditors

M. P. Chitale & Co.

M/s. M. P. Chitale & Co. ("the firm") is registered with ICAI since 1956. The firm has been providing professional services since the last 7 decades, with its offices in Mumbai and branch offices in Pune.

The firm is engaged in audit & assurance, direct and indirect taxation services, risk and management consultancy services and is empaneled with various regulatory authorities such as RBI, ICAI, IRDAI, etc. The firm's clientele range from private, public and joint sector corporates, regulators, etc. The firm also has varied experience in the Banking, Financial Services and Insurance (BFSI) sector, having provided audit / non-audit and consultancy services to private, public and foreign banks.

CNK & Associates LLP.

M/s. CNK & Associates LLP ("the firm"), established in 1936, offers services in the areas of statutory audits, internal/ management audits and information systems audits, taxation - both direct and indirect and transaction advisory services. The firm has its presence in 7 cities which includes Mumbai, Vadodara, Bengaluru, Chennai, Delhi, Ahmedabad and Gandhinagar. It also has 2 offices in United Arab Emirates (in Dubai and Sharjah).

The firm's clientele range from private, public and joint sector corporates, regulators, etc. The firm also has vast experience in the Banking, Financial Services and Insurance (BFSI) sector, having provided audit / non-audit and consultancy services to private, public and foreign banks.