IDFC FIRST Bank Merger and Performance Update

1. Founding of IDFC First Bank IDFC FIRST Bank was founded by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018 IDFC IDFC BANK + IDFC Bank was created by demerger of infrastructure lending business of IDFC Limited to IDFC Bank in 2015 IDFC Limited was set up in 1997 to finance infrastructure, focusing primarily on project finance and mobilization of capital for private sector infrastructure development The Bank launched corporate banking, treasury solutions, retail and rural business and achieved CASA of INR 64 bn (1) As a part of its strategy to diversify its loan book, IDFC Bank was looking for a merger with a retail finance institution with adequate scale, profitability and specialized skills Mr. Vaidyanathan concluded a leveraged management buyout in 2012 to form Capital First Company built unique ways of financing MSMEs and Indian consumers in niche segments using analytics-driven technology platform Built a AUM of INR 326bn (1) C CAPITAL FIRST Strong credit skills, maintained low NPA levels years (2) High NIM, profitable growth engine with 5-year profit grew by 5.2x in 5 Consistently rising ROE with pre-merger quarterly annualized ROE at 14.5% (1) Company was on the lookout for a commercial banking license in order to access stable and low cost deposits Post-merger IDFC FIRST Bank Retail lending business model with vintage of 8 years Gross funded assets of INR 1,047bn at merger, out of which 35% of loans were in the retail segment (3) NIM increased to 2.9% on merger (4) Banking platform to grow retail deposits and CASA Large retail customer base 12 1. As on Sep 30, 2018 3. As on Dec 31, 2018 4 2. From FY13 to FY18 4. NIM computed as annualized Net Interest Income divided by average interest earning assets, including Capital First metrics IDFC FIRST Bank

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