Cessation

AXIS/CO/CS/514/2023-24

December 15, 2023

Dear Sir(s),

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

SUB.: CESSATION OF ASHISH KOTECHA, AS A NON-EXECUTIVE (NOMINEE OF ENTITIES AFFILIATED TO BAIN CAPITAL) DIRECTOR OF THE AXIS BANK LIMITED ("BANK")

This is in reference to our communication dated March 7, 2022, intimating that the shareholders of the Bank had approved the resolution regarding appointment of Ashish Kotecha (DIN: 02384614) as a Non-Executive (Nominee of entities affiliated to Bain Capital) Director of the Bank, with effect from December 19, 2021 upto expiry of three (3) years i.e. upto December 18, 2024 or till the time BC Asia Investments VII Limited, Integral Investments South Asia IV and BC Asia Investments III Limited ("the entities affiliated to Bain Capital") are directly holding in the aggregate at least two percent (2%) of the equity share capital of the Bank on a fully diluted basis, whichever is earlier.

In this regard, we would now like to inform you that as per the beneficiary position dated December 14, 2023, received today from National Securities Depository Limited and Central Depository Services (India) Limited, the direct shareholding of entities affiliated to Bain Capital in the aggregate has come down below two percent (2%) of the equity share capital of the Bank on a fully diluted basis.

Consequently, Ashish Kotecha (DIN: 02384614), Non-Executive (Nominee of entities affiliated to Bain Capital) Director of the Bank has ceased to be a member of the Board of Directors (the Board) of the Bank, with effect from the close of business hours of Thursday, December 14, 2023.

The Board and entire management team acknowledges the invaluable contributions rendered by Ashish Kotecha during his tenure as a Non-Executive (Nominee of entities affiliated to Bain Capital) Director and place on record their deep appreciation for his contributions to the Board.

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

http://www.rns-pdf.londonstockexchange.com/rns/9773W_1-2023-12-15.pdf

Thanking You.

Yours Sincerely,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

CC: London Stock Exchange

Singapore Stock Exchange