“One Axis”

- Significant value creation in key subsidiaries

Presentation - June 2021

1
One Axis enables us to offer various products and services of the
Bank and its subsidiaries…

“One Axis” essentially means experiencing Axis Franchise as “ONE”

Investment Banking / Capital Markets

1 • Debt Capital Markets (DCM)
Wholesale Banking • Equity Capital Markets (ECM)
• M&A & Advisory
• Forex & Derivative Solutions

2 Commercial Banking
• Working Capital / Term Loans
• Letter of Credit/ Bank Guarantee
• Bill/ Invoice Discounting, Supply Chain financing
Universal • Wholesale Deposits
Commercial Banking
Banking Transaction Banking
• Cash Management Services (Collection/ Payment)
• Current Accounts
3 • Custodial Services
• Correspondent Banking Services

Retail Banking
Retail Banking • Savings accounts and other products and services
4 • Wealth Management – Burgundy / Burgundy Private

Reliable Partner Throughout the Customer Life Cycle

Liability products & Credit & Investment

Transaction Banking DCM & Treasury
Payments solutions

2
… creating value for its shareholders across the Bank and its group entities

All figures in ` Crores

Invst Banking Consumer Retail Fintech

Asset Management Trustee TReDS platform Insurance
& Inst Equities focused NBFC Brokerage platform

One of the fastest Leadership position in AAA rated NBFC with 3rd largest bank led Amongst the leading One of the major fintech Leading player on 4th largest private
growing MF player ECM deals segment diversified product offerings brokerage firm trustees in India players in India TReDs platform insurance company @

Stake 75% (JV Schroders Plc^^) 100% 100% 100% 100% 100% 67% 12.99%** (Co-promoter)

Significant value creation in key subsidiaries

Total investments* made Combined networth* of operating subs Combined PAT* of operating subs

17% CAGR^ 57% CAGR^

0.4% CAGR^ #
813
3,221

2,348 2,488
1,800 1,806 1,815

459

328

Mar-19 Mar-20 Mar-21 Mar-19 Mar-20 Mar-21 FY19 FY20 FY21

H2FY21 annualized PAT of Subsidiaries stood at over ` 1000 crores

** Including stakes owned by Axis Capital and Axis Securities; Also, there is further Option to take overall stake to 19.99% ^^ 25% is held by Schroders Plc
# Domestic subsidiaries (including Axis Trustee) reported a total PAT of `833 crores in FY21 ^ CAGR for Mar-19 to Mar-21 period @ Based on New Business Premium
* The figures represented above are for the subsidiaries mentioned in the slide (excluding Axis Trustee and Max Life) and are as per Indian GAAP, as used for consolidated financial 3
statements of the Group
1 Axis Asset Management Company Limited

2 Axis Capital Limited

3 Axis Finance Limited

4 Axis Securities Limited

5 Other Subsidiaries / Group Companies

4
 Axis AMC at a glance

`1.96 Tn | 36% 8 mn | 33% 104

Axis AMC Quarterly AAUM CAGR* Client folios YoY growth Branches

6% | 11% 10% | 17% 89%

Market Share Overall market Incremental Equity market Incremental Share of individual investors** in
share (QAAUM) market share share (QAAUM) market share growth / equity oriented AAUM

44% 242 Cr | 100% 44%

Profitability Return on equity Profit after tax CAGR* - PAT
YoY Growth

2 mn 25% 3.28 mn | 52%

Acquisition Increase in Client folios in FY21 Incremental client folios SIP Count in FY21 YoY Growth
market share for FY21

83% 100%
Fund Performance Axis MF equity schemes that have outperformed the Axis MF equity schemes that have outperformed the
benchmark in 3 years period benchmark in 5 years period

All numbers reported above are in IGAAP format * CAGR for 4 years ** include retail and HNI
Source: Axis MF. Data as on Mar 2021. Please refer slide no.16 for disclosure of AUM / AAUM in regulatory format.. 5
Key differentiators

Unique, differentiated investment process that focuses on high quality portfolios

Robust long term performance track record

Capabilities across equity (listed/ unlisted), debt and real estate

Continued product innovation including Global, Alternatives and ETF strategies

Significant investments in digital and fintech channels to drive growth

6
 We have significantly lifted the growth trajectory in the last 2 years…

• Our average incremental market share in Overall QAAUM has been ~2x of our closing market share
• Equity & Hybrid funds AAUM constitute 54% of our overall AAUM, compared to 42% for the industry
All figures in ` bn
Overall QAAUM and market share Equity QAAUM and market share AAUM mix (Mar-21)

6.8% 4.2% 4.1% 8.7% 18.9% 11.4% 11.4% 4.6% 5.8% 15.6% NA* 17.1%
3000 1800 12.00% 1%
6.1% 17%
6.00%
1600 9.9%
2500 5.1% 10.00% Axis
1400 54%
2 yr CAGR of 48% 5.00% 2 yr CAGR of 49%
28%
5 yr CAGR of 39% 5 yr CAGR of 53% 7.8%
2000 1,965 1200 8.00%
3.7% 4.00% 988
3.4% 1000
3.2%
1500 1,384 5.3% 6.00%
2.8% 3.00%800
4.3%
620 10%
898 600 3.5% 4.00%
1000 3.2%
774 2.00% 445 19% 42%
578 400 331 Industry
500 378 1.00% 2.00%
180
200 120
29%
0 0.00% 0 0.00%
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Equity & Hybrid Debt

Overall QAAUM Overall QAAUM market share Equity QAAUM Equity QAAUM market share Liquid Others

Incremental Mkt share (in %)

* Industry Equity AAUM had reported negative growth in Mar-20
7
Source: Axis MF. Data as on Mar 2021. Please refer slide no.16 for disclosure of AUM / AAUM in regulatory format..
…with strong traction in customers and SIP folios

Folio Count & market share SIP Count

120
11.00%

100 2 yr CAGR of 44% 2 yr CAGR of 64%

8.2% 9.00%
5 yr CAGR of 37% 5 yr CAGR of 48%
40
6.7%
80.11 7.00%
80 35 32.74
4.7%
3.9% 4.0% 5.00% 30
3.5% 60.11
60
3.00% 25
21.49

38.89
20
40 1.00%
28.23 15 12.20
21.66 -1.00%
16.66 10 7.36
20 5.84
-3.00% 4.57
5

0 -5.00% 0
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21

Folio Count (in Lacs) Folio market share

25% - Incremental market share in client folios in FY21 | 64% - 2yr CAGR for SIP count

Source: Internal, AMFI , SIP – Systematic Investment Plan 8

We have delivered strong growth in last 2 years led by our strategic imperatives

1 We have strengthened product proposition with new launches

2 We have made investments in expanding our distribution reach

3 We are also rapidly enhancing digital assets and presence

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 1 We have strengthened product proposition with new launches

Mutual Funds Alternatives

• Axis Retirement Savings Fund: • Portfolio Managed Services

- Provides long term retirement solution with a special Insurance bundle for SIP investors(iPlus SIP) - Launched the Axis Core & Satellite PMS, a multi-cap discretionary equity
portfolio

• Global Strategies
- In collaboration with Schroders, we have built a dynamic suite of international fund offerings with • Real Estate
global high quality active strategies for domestic investors. - Launched AIFs focused on making debt investments in the residential
real estate space
o Axis Global Equity Alpha Fund of Fund (Launched in Sept’20)
o Axis Greater China Equity Fund of Fund (Feb’21)
• Unlisted/ Pre IPO Equity
o Axis Global Innovation Fund of Fund (May’21)
- Launched AIFs focused on investing in fast growing, mature unlisted
companies
• Axis ESG Equity Fund (Launched in Feb’20):
- Launched as a part of our drive to integrate ESG/sustainability into our investment process
and decision making

• Axis All Seasons Debt Fund of Fund:

- Novel one stop debt investment solution that aims to deliver across market cycles by
investing in multiple AMC’s and investment strategies to build an optimum long term portfolio

• Passive Funds
- Building a differentiated bouquet of equity, gold and fixed income funds across index fund
and ETF platforms

For Product labelling details of schemes & risk factors, refer slide 14 & 15 10
2 We have made investments in expanding our distribution reach

• Expanded our geographical reach with well diversified AAUM base across regions and cities

• 40% of AAUM sourcing is through direct channels, with 89% of Equity AAUM contribution from Individual Investors

18% of AAUM is from B30 locations 40% of AAUM sourcing is through direct channels 89% of Equity AAUM is from Individual* investors
figures in ` Cr
18%
AAUM market share across distribution channels

11,341
31%
45%
82%

33%
15% 96,371
T30 B30
2,523 (89%)
Well diversified across cities 40%
36%
30,677
4% (92%)
8%
FY18 FY21 FY18 FY21
9%
Non Associate Distributors Institutional Individual
Associate Distributors
19% 60% Direct

Individuals include Retail and HNI investors

Equity AAUM refers to growth / equity oriented funds
Top 5 Next 10 Next 20 Next 75 Others

Source: Axis MF, Data as of Mar’21 11

3 We are also rapidly enhancing digital assets and presence

Initiatives taken Outcomes

• Leading AMC in terms of Gross sales in Industry for VRM1 model space • 6x YOY growth in VRM Agents from Mar 20
VRM - B2C
• WFH solutions built to deliver productivity seamlessly even during COVID • ~500% increase in direct investors managed in last 2 yrs

• Cart on digital assets with multiple payment methods for e -

B2C App commerce kind of functionality. • 350% YOY increase in logins / downloads in Mar’21
(launched in Mar’20)
• Investment packs with bundled products to invest in one go
• 39% gross Digital sales through B2C App,

B2C website • Improved UI, UX and additional features • ~50% increase in website traffic
(Revamped in Dec’20)
• Investment cart and Packs are launched on website too • 122% YOY increase in monthly logins

• Released multiple features to IFAs 2 on digital assets like • 2x YOY increase in monthly registrations
B2B IFA Connect
iPlus SIP, SIP First Debit, etc
• 3x YOY increase in monthly transactions

• Working with tech giants and marketers to improve customer • 144% increase in users on website
Customer experience experience, product discovery and overall digital sales
• 100% YOY growth in fintech channel sales

Personalization • Notification based on user-profile, history, etc • 130% increase in average SIP transaction size
• Investment Packs and Cart option launched • 15% increase for lumpsum investments

Source: Axis MF 1 Virtual Relationship Managers 2 Independent Financial Advisers 12

Strong financial performance, PAT up 100% YoY

Total Income Operating Profit

88% YOY
685 324
643
35% YOY
478
173

85

FY19 FY20 FY21 FY19 FY20 FY21

Profit after tax Return On Equity

44%
242 100% YOY
33%

121 19%

55

FY19 FY20 FY21 FY19 FY20 FY21

All numbers reported above are as per IGAAP 13

Product labelling details of schemes & risk factors
Scheme Name & Type of the scheme
Axis All Seasons Debt Fund of Funds
(An open ended fund of funds scheme investing in debt oriented
mutual fund schemes)
Axis Retirement Savings Fund - Conservative Plan
(An open-ended retirement solution oriented scheme having a lock-in
of 5 years or till retirement age (whichever is earlier)
Axis Banking ETF
(An Open Ended scheme replicating / tracking NIFTY Bank Index)
Axis Greater China Equity Fund of Fund
(An open ended fund offund scheme investing in Schroder
International Selection Fund GreaterChina)
Axis ESG Equity Fund
(An Open ended equity scheme investing in companies demonstrating
sustainable practices across Environment, Social and Governance
(ESG) theme)
Axis Global Equity Alpha Fund of Fund
(An open ended fund of fund scheme investing in Schroder
International Selection Fund Global Equity Alpha)
Product Labelling Riskometer(s)
This product is suitable for investors who are seeking --
· To generate optimal returns over medium term
· Investment primarily in debt oriented mutual fund schemes
· Capital appreciation & income generation over long term.
· Investments in debt and money market instruments as well as
equity and equity related instruments.
· Long term wealth creation solution
· An index fund that seeks to track returns by investing in a basket of
NIFTY Bank Index stocks and aims to achieve returns of the stated
index, subject to tracking error
• Capital appreciation over long term.
· Investment in Schroder International Selection Fund Greater China, a
fund that aims to provide
capital growth by investing in equity and equity related securities of
People's Republic of China,
Hong Kong SAR and Taiwan companies.
· Capital appreciation over long term
· Investments in companies demonstrating sustainable practices
across Environment, Social and Governance (ESG) parameters.
· Capital appreciation over long term
· Investment in Schroder International Selection Fund Global Equity
Alpha, an equity fund that aims to provide capital growth by investing in
equity and equity related securities of companies worldwide.
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Product labelling details of schemes & risk factors
Scheme Name & Type of the scheme
Axis Retirement Savings Fund - Dynamic Plan
(An open-ended retirement solution oriented scheme having a lock-in
of 5 years or till retirement age (whichever is earlier)
Axis Retirement Savings Fund - Aggressive Plan
(An open-ended retirement solution oriented scheme having a lock-in
of 5 years or till retirement age (whichever is earlier)
Axis Technology ETF
(AnOpen Ended Exchange Traded Fund tracking NIFTYIT Index)
AXIS HEALTHCARE ETF
(An Open Ended Exchange Traded Fund tracking NIFTY Healthcare
Index)
Axis Global Innovation Fund of Fund
(An open ended fund of fund scheme investing in Schroder
International Selection Fund Global Disruption)
AXIS AAA BOND PLUS SDL ETF - 2026 MATURITY
(An open-ended Target Maturity Exchange Traded Fund investing
predominantly in constituents of Nifty AAA Bond Plus SDL Apr 2026
50:50 Index)
Product Labelling Riskometer(s)
This product is suitable for investors who are seeking -
· Capital appreciation and income generation over long term.
· Investment in equity and equity related instruments as well as debt
and money market instruments while managing risk through active asset
allocation.
· Capital appreciation over long term
· Investments primarily in equity and equity related instruments.
· Long term wealth creation solution
• The fund that seeks to track returns by investing in a basket of NIFTY IT
Index stocks and aims to achieve returns of the stated index, subject to
tracking error.
• Long term wealth creation solution.
• The fund that seeks to track returns by investing in a basket of NIFTY
Healthcare Index stocks and aims to achieve returns of the stated index,
subject to tracking error.
• Capital appreciation over long term.
• Investment in Schroder International Selection Fund Global Disruption,
an equity fund that aims to provide capital growth by investing companies
worldwide which benefit from disruption.
• Income over long term.
• Investment in AAA rated Corporate Bonds & State Development Loans
(SDLs) as represented by Nifty AAA Bond Plus SDL Apr 2026 50:50
Index, subject to tracking errors.
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 Disclosure of Average AUM in regulatory format for period ended Mar’21

• Disclosure: Scheme AUM/AAUM (Amt in cr) Rs.191919.66 / Rs. 196548.66 Asset Classwise AUM / AAUM: Liquid/Money Market:
29244.91/33687.69, Gilt: 162.39/ 181.70 Income/Debt: 50769.68 / 53978.42 Equity including ELSS: 100105.80 /97336.72 Hybrid:
7784.74/7676.073 Solution: 1502.62/1484.86 Index: 399.91/378.25 ETF: 522.34/469.60 FOF: 1427.27/1355.34. AUM by geography
(%) [Cities]: Top 5: 60.15% Next 10: 18.78% Next 20: 8.13% Next 75: 8.11% Others: 4.82% AUM by geography for Equities including
ELSS (%) [Cities]: Top 5: 51.35% Next 10: 19.03% Next 20: 10.72% Next 75: 11.66% Others: 7.24%

• For Fund of Fund schemes : Investors will be bearing the recurring expenses of the scheme in addition to the expenses of other
schemes in which Fund of Funds scheme makes investment.

• Past performance may or may not be sustained in the future

• Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd.
(liability restricted to ` 1 Lakh). Trustee: Axis Mutual Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the
AMC). Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of the scheme.
This document must not be taken as the basis for an investment decision. Neither Axis Mutual Fund, Axis Mutual Fund Trustee Limited
nor Axis Asset Management Company Limited, its Directors or associates shall be liable for any damages including lost revenue or
lost profits that may arise from the use of the information contained herein. No representation or warranty is made as to the accuracy,
completeness or fairness of the information and opinions contained herein.

• Mutual Fund Investments are subject to market risks, read all scheme related documents carefully

16
1 Axis Asset Management Company Limited

2 Axis Capital Limited

3 Axis Finance Limited

4 Axis Securities Limited

5 Other Subsidiaries / Group Companies

17
Axis Capital at a glance

No. 1* | ` 3.9 Tn No. 4^ ~50%

Axis Capital ECM house, executed equity Merger & Advisory business Deals as left lead banker since
deals since Jan 2015* (in FY21) Jan 15

13.7% 2.90% 2.1%

Market Share Revenue market share in Incremental market share gained in Market share in Institutional Equities
Equity Capital Markets (FY21) ECM revenues (FY21) by volumes

36% `166 Cr | 66% 10%

Profitability Return on equity Profit after tax YoY Growth CAGR** - PAT

Full Service 55% 60% 4 | 4

Repeat clients REIT deals M&A advisory
Investment Bank Deals from large corporations
executed in FY21 deals in FY21

80% 186 10
Institutional of India's market cap under active Institutional relationships No. of tier-1 Ranks for Lead
Equities research coverage with FIIs and DIIs Analysts from the top 50 funds

*Source: Primedatabase; Includes IPO, REIT, InvITa, QIP, OFS, FPO and Rights offerings on full basis ** 4 yr CAGR
^ Based on Mergermarket (on deal announcement basis by deal count); Considered investment banks (domestic and international) excluding the Big 4 18
accounting firms and RBSA Advisors ; Does not include minority stake deals / fund raise transactions, Axis Bank Document Classification | Confidential
Key differentiators

Experienced management team with seamless and unparalleled execution capabilities

Strong relationships built with key investors across geographies, over last two decades

Ability to provide holistic solutions to corporates leveraging on ‘One Axis’ capabilities

Robust distribution and reach to market new offerings

Committed to invest and build a world class franchise leveraging technology and our relationships

Axis Bank Document Classification | Confidential 19

 Consistent recognition as one of India’s best Investment Bank
Highest ever number of ECM deals in FY21 5 years (since April 2016) Among the top players in Advisory
ECM Deal * Count Ranking^ Deal Count Amount Advisory Deal ^ Count Ranking^
(INR bn)

115 3,648 FY21 4 8 4

FY21 52

Peer 1 106 3,286

9
FY20 24 FY20 3 4

Peer 2 86 2,983

FY19 22 5
FY19 10 12
Peer 3 82 3,384

FY18 35 4
Peer 4 76 2,284 FY18 8 16

*Includes all ECM fund raise products, Buybacks and ECM Advisory For the period: 1st April 2016 till 31st March, 2021 M&A PE SF

FinanceAsia The Asset FinanceAsia FinanceAsia The Asset

The Banker
Triple A Awards Triple A Awards

Best ECM Most Innovative Best Corporate and Best Investment Best DCM House Best Equity Adviser
House in India Investment Bank Institutional Advisor - Bank in India - India (Country)
(Asia Pacific) Domestic
2020, 2018, 2018, 2017, 2016, 2020, 2018, 2017,
2015, 2013 2019 2019, 2018 2015, 2013 2016, 2015, 2013 2018, 2017

^Source: Primedatabase; Includes IPO, REIT, InvITs, QIP, OFS, FPO and Rights offerings (Basis # of deals)
^ Based on Mergermarket (on deal announcement basis by deal count); Considered investment banks (domestic and international) excluding the Big 4
Axis Bank Document Classification | Confidential 20
accounting firms and RBSA Advisors ; Does not include minority stake deals / fund raise transactions,
We have further strengthened our Institutional Equities business

People Products Processes

• Recent key talent additions at leadership level • Revamped our Research products, moving away • Invested in further improving our trading room
• Co-Heads of Equities from maintenance to thematic and differentiated infrastructure
research
• Head of Research • Set up trading in exchange colocation datacenter for
• Rankings have improved with 60% of our clients better trading/execution latency
• Chief Technology Officer
• Strong Derivatives push in later part of the year has • Advanced trading, risk management systems and
• Talent addition across Sales, Trading and Research yielded higher revenues algo strategies to enhance client offering,
• Revamped Derivatives team • Volumes traded up 4x and revenues up 2x surveillance monitoring and execution quality.
• New talent heading Electronic trading and Cash
execution positions

Cash and F&O Volumes of IE (INR Bn)

31
member research team

80%
India’s market capitalization 2,222
under research coverage 925 887 886 1,062 931 1,071 1,179

2017-18 2018-19 2019-20 2020-21

Axis F&O - TO Axis Cash - TO
Axis Bank Document Classification | Confidential 21
Strong financial performance, PAT up 66% YoY
Breakup of Revenue from operations
Revenue from Operations
381
35%
58% YOY 48% 45%
241
214

65%
52% 55%

FY19 FY20 FY21 FY19 FY20 FY21

Institutional Equities Investment Banking

Profit after tax Return On Equity

166
36%
66% YOY
27%
950 bps YOY
100

64 16%

FY19 FY20 FY21 FY19 FY20 FY21

All numbers reported above are in IGAAP format Axis Bank Document Classification | Confidential 22
1 Axis Asset Management Company Limited

2 Axis Capital Limited

3 Axis Finance Limited

4 Axis Securities Limited

5 Other Subsidiaries / Group Companies

23
Axis Finance at a glance

11,089 Cr 20.4% AAA 14.6%

Axis Finance Assets under management Capital Adequacy Highest Credit Return on equity
Ratio Rating

26% 42% 22% 7.5 times

Growth CAGR* YoY Growth of Growth in Wholesale book | Growth in Retail book
Overall Book overall book (YoY) (YoY)

15% | 11% `211 Cr | 9% 5.4% | 28%

Profitability CAGR* CAGR* NIM Cost to income
Profit after tax YoY Growth
Revenues Operating profit ratio

9,209 Cr 90% 91% | NIL

Wholesale Wholesale loan book Reduction in LAS in last 2 years Proportion of secured Restructuring
loans in Wholesale Account

Retail 17% 23% 71%

Proportion of Retail in overall Retail disbursements as % of Proportion of secured loans
book, entirely built in last 2 yrs total disbursements in FY21 in Retail book

* CAGR for 4 years 24

Key differentiators

Unique positioning as a Bank promoted, AAA rated diversified NBFC

Complimentary product offerings and customer segments to that of Axis Bank

Ability to provide holistic solutions leveraging ‘One Axis’ capabilities of Axis Group

Strong operational and risk management backed by robust technology

Consistently delivering best in class operating metrics and return ratios

25
Increasing diversification with granular retail portfolio build
All figures in ` Crores

Retail book now accounts for 17% of our overall book, entirely
A
built over the last two years
11,089

1880 1%5%
7%
17% LAP
8% Personal loans
Housing loan
8,140 FY21 Business loan
10 7,816 58% Consumer Finance
21%
3% 251 Others

B Consistent de-risking of Wholesale book through increasing focus

towards better rated corporates and cash flow backed collateralised loans
9209
8130 (83%)
7566
(~ 100%) 16%
(97%) 3% 1%
29%
39% Corporate loans
FY19 FY21 Real Estate
18%
LAS
63%
FY21 Collateralised loans
31%
Collateralised Loans entail cash-flow backed Loans
FY 19 FY 20 FY 21 against Property including LRD & certain focused sectors

Wholesale* Retail
26
*FY21 Wholesale Book includes Rs 434 of Investments
A Retail book now accounts for 17% of our overall book, entirely built over the
last two years
• Started mass retail business in Q2FY20 and delivered strong growth in last 6 quarters
• Of the total disbursements, Retail segment contributed ~ 23% in FY21
All figures in ` Crores

Registered strong growth in disbursements… … leading to a healthy loan book growth… … with optimum mix of secured loans…

1880
871
29%

633 1177

433
644 71%
180 307
86 106 251
110
Secured Unsecured
Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21

… driven by unique differentiating factors

Leveraging Technology Process Automation Targeted Customer Segments Unique Service Oriented Architecture

27
 B Consistent de-risking of Wholesale book through increasing focus towards better
rated corporates and cash flow backed collateralised loans

• 88% of disbursements in corporate book to A- and better rated corporates and cash flow backed businesses
• Over 13x rise in collaterised loans while simultaneously reducing LAS and Real Estate loans substantially
All figures in ` Crores

88% of disbursements in corporate book towards Increased the proportion of Collateralised Loans Reduced mix of LAS and Real Estate loans
those rated > A- and cash flow backed businesses

CAGR of 268%
88%
-90%
Collateralised Loans entail cash-flow
1420 -38%
backed Loans against Property
including LRD & certain focused sectors
53% 2390

999
28% 534
227
2528
2075
105 1580

FY19 FY20 FY21 FY19 FY20 FY21 FY 19 FY 20 FY21

LAS RE

28
Well diversified liability mix with best-in-class funding cost among NBFCs

Diversified funding mix

26% 28%
38% 1• 71% share of long term funding instruments as of Mar-21
FY20
up from 44% in Mar-20
FY21
1% 59%
12%
30% 6% 2• 76% funding from non Axis Bank sources ensuring
deeper and wider funding access

Book size : ` 6,362 Crores Book size : ` 9,098 Crores

3• 112 bps YOY drop in average cost of borrowing in FY 21
NCD Bank Term Loans Short term WC limits CPs
to 6.9%, which remains one of the lowest among NBFCs

• NCDs & Bank Term loans: We have utilized lower interest rates to lock in
funds with a 3-5 years maturity to provide stable longer-term funds

• Commercial Papers will continue to be one of the short term resource to

benefit from probable short term market rates

29
Our Strategy and focus areas

1 Continued focus on growing retail book by sharpening the product mix and deepening distribution

2 Focus on growing whole sale book sustainably while increasing granularity

3 Investments in technology to create a fully Integrated Retail Loan System

4 Technology and process automation initiatives driving operational efficiencies

30
1 Continued focus on growing retail book by sharpening the product mix and
deepening distribution

Focused Product Mix Alternate Distribution Increased Branch footprint

Emphasis on growing secured book Extended distribution through Expand physical branch presence
online partners & aggregators in Tier 2 / 3 locations

Continue to focus on existing array of retail Build scale through partnerships with Online Scale up branch footprints by setting up Axis
products in the medium term aggregators and co-lending partners Finance’s own loan centers.

More emphasis on secured loans consisting Focus on partners offering end use based Use the branch network to increase the
of Loan against Property and housing loan solutions for schools, education, marriage, etc. geographical coverage in extended locations

Will continue to look out for securitization Build automated processes for assessment and Encourage WFH models in remote locations
deals opportunities for inorganic growth seamless on-boarding journeys which are only sourcing centers for AFL

• Integrated loan origination and management software, with various inbuilt controls for risk assessment, track collateral and collections through the loan period.
• We are also integrating other data sources and building dynamic scorecards basis predictive variables.

31
2 Focus on growing whole sale book sustainably while increasing granularity

Corporate Lending Collateralised Loans Emerging Corporate Lending Real Estate

Continue to focus on well-rated Adapt a cluster-based approach Small ticket size loans to aid Focus on top developers in
firms with strong cash-flows targeting non-cyclical sectors granularity select micro-markets

Target large conglomerates with
proven credentials, established legacy
and sector-leading large corporates.
Leverage One Axis capabilities
Cluster-based Approach in
respective micro-markets for deeper
penetration across geographies
Target non-cyclical sectors with
strong operating entities
Emerging Corporate lending to SMEs
and mid corporates with avg. ticket
size of Rs10-15 Cr will help in
increasing the granularity
Cluster based approach majorly in
Tier II-IV cities with focus on leading
firms in the respective segments
Focus on ready inventory backed
funding selectively in key markets
Focus on Top Developers & existing
clients in select micro-markets
Focus on sub-average ticket size
transactions with a comfortable
security cover

• Centralized credit decisioning as per well defined Credit Risk framework

• We are building early warning indicators for predictive risk modelling to identify risky sectors / segments / exposures

32
3 Investments in technology to create a fully Integrated Retail Loan System

Integrations Core System Architecture User Interface

NSDL (PAN Check)

Bureau (Consumer &

Commercial)

KYC validations Collection LOS

(API integrations) (DPD, NPA,
(Loan origination)
Follow-up)

SMS/Email Gateway
Web Mobile
Core Application Application
Customer Portal (Post login) CNI System LMS
(Commission & (Loan
Incentive) management)
CKYC Submission

CMS
RPA (Bureau Summary) (Collateral
Management)

Digital Initiatives Gone Live -

Integrations with Core system WIP

eNACH, eAgreement, Whatsapp

Axis Bank Document Classification | Confidential 33
4 Technology and process automation initiatives driving operational efficiencies…

Initiatives taken Pilot outcomes

• Sales team enabled with BYOD • 50% reduction in application login time through Mobile app

Sales processes • Common LAF* & OCR based reduced data entry
• e-NACH implementation
• Pre-filled loan agreements & sanction letter
• 30% reduction in FTNRs on logins and disbursals
• 80% reduction in NACH rejections
• 3x increase in efficiency of executing loan agreements

• Bureau based Hard reject rules for initial filtration • 30% reduction in rejected applications in Credit queue

• Cash flow based analysis & loan eligibility
Credit Appraisal
• ITR / GST based validation from source
• Integrated KYC and Employment checks
• 20% reduction in time taken to analyse Bureau report
• 2 days reduction in TAT to confirm validity of documents
• 5 mins per transaction saved

• E-NACH for mandate registration prior to loan disbursal

• 15 min reduction for each transaction
• Automated Provisioning & NPA reporting
Operations • 3 days every month saved
• Stamp procurement & Operations FTNR
• 30% reduction in operations FTNR
• RPA^ for Fee application, CERSAI submission

*Loan application form ^ Robotic Process Automation 34

4 … helping enhance customer experience and overall productivity
Initiatives taken
• Online loan application status tracking
Customers • Welcome letter in 48 hours on Whatsapp
• E-Agreement (Stamp & Sign)
• Revamped Customer portal
• Dashboard with online loan status
• E-Agreement
Vendors
• E-Invoice generation
• Faster payments
• Full on-boarding on joining date
• Sales tool kit
Employees
• Loan origination through BYOD
• C-KYC with pre-filled application form
Pilot outcomes
• Enhanced customer experience
• 15 days faster issuance of welcome letter as compared to
some of the peers
• Complete access to loan details, Schedule of
Amortization & interest certificates
• Faster decision making
• 1 day saved in execution for each customer
• 15 days saved for bill submission and approval
• Less than 2 days taken to release payments
• Welcome kit with ID card, Laptop & Business Card
• Improvement in product knowledge
• Better productivity and less operational work
35
Delivering consistently strong financial performance despite ongoing investments
for building out Retail business

Total Income Net Interest Margin Capital Adequacy ratio

4% YOY
5.4% 23.1%
1,023 4.9% 22.0%
984 4.4% 20.4%
911

FY19 FY20 FY21

FY19 FY20 FY21 FY19 FY20 FY21

Profit after tax Asset Quality & Provisioning ROE

227
9% YOY
211 Nil Restructuring 19.3%
15.2% 14.6%
193
1.9% 2.0%

Net NPA

FY19 FY20 FY21 Mar-20 Mar-21 FY19 FY20 FY21

36
All numbers reported above are in IGAAP format
1 Axis Asset Management Company Limited

2 Axis Capital Limited

3 Axis Finance Limited

4 Axis Securities Limited

5 Other Subsidiaries / Group Companies

37
Axis Securities at a glance

3.6+ mn1 1,200+ 30+ 100+

Axis Securities Customer base - 3rd
largest Employees Advisory branches Business Partners &
Bank-led broker & CDD^ desks Tie up with 4 Indian Banks

43% 2.90% 1.69%

Market Share Cash delivery volume Online cash market share Cash market share

41% `166 Cr | 10x 34%

Profitability Return on equities PAT YoY Growth CAGR* - PAT

Acquisition 68% 68% | Ranked 1st `5,335

Digital acquisition Highest growth in UCC compared Average annual revenue per customer
& UCC** with Bank-led brokers

2,250+ Cr 1.1 L 210+ Cr 185 Cr

TPP Business Mutual Fund AUM Active SIP’s
SmartEdge/ AUM of NDPMS2, Managed
Smallcase AUM Account & CAT3

1Post acquisition of trading accounts from Karvy

* 4 yr CAGR (FY17 to FY21) ^ Central dealing desks **Unique Client Codes 2 Non Discretionary Portfolio Management Service 38
Key differentiators

Full service retail brokerage with focus on quality customer acquisitions and profitability

Robust technology infrastructure and digital capabilities

Ability to provide holistic solutions to retail clients leveraging on ‘One Axis’ capabilities

Extensive distribution reach using omni channel platforms

Continuous product and service innovations to offer superlative customer experience

39
We are the 3rd largest bank led retail brokerage firm

• A full service retail brokerage firm with focus on cash delivery volumes to drive profitable growth
• 43% average daily cash delivery volumes, higher than market cash delivery volumes of 31%

Customer Base Average daily cash value Average daily cash delivery %
(in lakhs) (in ` Cr)
57% YOY 80% YOY

35.8
604 43%
37%
22.8 31%
21.0 30%
334
247

Mar-19 Mar-20 Mar-21 FY19 FY20 FY21 FY 19 FY 20 FY 21

Axis Securities Market

10 lakh + customers acquired from Karvy Broking in FY21 47% of the clients acquired are millennials

3.5 lakh new customers added organically in FY21 39% of the clients acquired belong to tier 1 and tier 2 cities

40
We continue to deliver on our medium term strategic objectives to drive profitable growth

1 Focused Business model with improving quality of acquisitions

2 Strengthened investment suite by introducing innovative products to build captive AUM

3 Continue to leverage on our strong Digital offerings

41
1 Focused Business model with improving quality of acquisitions
• Took significant steps towards becoming a full service Retail brokerage firm in last two years by moving away from Retail Assets business and
migrating away from discount brokerage model
• Focus has been to improve the quality of new customer acquisitions drive higher cash volumes leading to better ARPUs and profitability

Unique clients (UCC*) ARPU^ Cash market share %

(in lakhs) (in Rs)
68% YOY 58% YOY

1.65% 1.69%
4.55 5,335
4.19
1.32%

3,383
2.70
2,738

FY19 FY20 FY21 FY19 FY20 FY21

FY19 FY20 FY21

68% - YOY growth in NSE UCC*, highest among bank led brokers | 52% - Clients acquired in last two years are active clients

* Unique client codes on NSE, ^ARPU: Yearly Average Revenue per Unique trading accounts 42
2 Strengthened investment suite by introducing innovative products to build captive AUM

• Focus has been to build captive AUM business through robust research engine and product offerings to reduce volatility
• We have 10+ innovative product offerings across equities, commodities and advisory to scale up growth

Smart Edge – No of clients

5,466
✓ `72,903 crores of overall DP holdings
3x
✓ `2250 crores AUM for mutual funds, having
scaled up SIP distribution
1,681
✓ `210 crores collective AUM of newly
launched advisory products SmartEdge and
Smallcase Mar-20 Mar-21

✓ $9.4 million AUM for Global investing Avg MTF Book Size (in Cr)
454
✓ 10x growth in average Margin Trading
Funding (MTF) book with nearly 2x collateral 10x

✓ Introduced Digital LAS and IPO bidding

44

Mar-20 Mar-21

43
3 We continue to leverage on our strong Digital offerings

• Digital contributes 89% of volumes and 66% of revenues, focus is on driving growth through technology led innovation across our digital platforms
• Convenient digital account opening process and launch of new RING Technology trading platforms to drive higher online business

Contribution of Digital to volumes Launched New RING Mobile App and Web platforms Initial customer response has been encouraging

87% 89%
51%

FY17 FY19 FY21

68,000+
Number of downloads
in first 4 weeks since launch
Contribution of Digital to trading revenues

38%
Power and reliability in making investment decisions Login to trade ratio

✓ Built on the latest technology stack

65% 66%
✓ Robust order management system
55%
✓ Scans over 25,000 stock market instruments in real-time
FY17 FY19 FY21
✓ Invest across stocks, IPOs, MFs, bonds, commodities
5x growth in customers acquired digitally ✓ Curated stock baskets and screeners

68% of customers acquired digitally in FY21

44
Delivered strong performance with 10x growth in PAT
All figures in ` Cr
Total revenue mix (by segments) Cost to income ratio (Broking)

219 424
94% YOY 74%
1,085
64%
13%
50% 1400 bps
81%
YOY
100%
87%

19%

FY19 FY20 FY21 FY19 FY20 FY21

Non Broking Broking

Profit after tax Return On Equity

166 3600 bps

946% YOY 41%
YOY

26%
77

5%
16

FY19 FY20 FY21

FY19 FY20 FY21

All numbers reported above are as per IGAAP

FY19 numbers include non broking business and are therefore not comparable with FY20 and FY21 45
1 Axis Asset Management Company Limited

2 Axis Capital Limited

3 Axis Finance Limited

4 Axis Securities Limited

5 Other Subsidiaries / Group Companies

46
• Axis Trustee is amongst the leading Trustees with strong expertise in innovative
investment vehicles like REITs and InvITs

• Registered with SEBI, ATSL provides trusteeship, agency & administration services since the year 1999

• Experienced team with strong domain expertise has helped ATSL to register many industry firsts and attain leadership position

Comprehensive service offerings with many …delivered through strong domain expertise… …has resulted in strong positioning
industry firsts…

• First Trustee Company to get license from SEBI to • Strong parentage and team of experienced `26.44 trillion
commence operations in International Financial professionals with rich domain expertise Assets under custody
Services Centre at GIFT City, Gujarat.

• Only Indian trustee company to provide facility agency • Expertise in handling & delivering through
service for ECBs availed by Indian corporates complex structures like Escrow/ Structured 100% | >60%
transactions/ REIT/INVIT/ Facility Agent Market share in REITs and InvITs
• Only Trustee in India to act as Trustee for REIT respectively

• Expertise in monitoring financial/ operational

• Only trustee to offer control over cashflows of the progress of the projects and advising lenders on `20.1 crores
company to prioritize payment to the lenders disbursement Profit after tax

47
REIT- Real Estate Investment Trust InvIT – Infrastructure Investment Trust
 Freecharge has evolved from a pure payments platform to a broader fintech platform

Freecharge serves as a “Digital Acquisition Engine” for the Bank to onboard the young digitally native and SMBs*

It has co-created financial product offerings across deposits, loans, cards, investments and payments

Key Product offerings Strategic focus areas Key business metrics

• Buy now Pay later new Develop financial service products relevant and 3 million+
Loans and
• Virtual Credit Cards focused toward’s digitally native customers. Monthly unique active customers
Cards
• Small ticket & large ticket PL
2,00,000+
• Digitial FD Creation of simplified Digital end to end native Merchant base
Deposits • Digital CASA
Digital journeys
• Digital CA
1,25,000+
Optimization and improvement of quality of Credit card applications
• MFs (Powered by Axis Securities)
Investments • Digital Gold customers in the payments space
• ASBA Mandates - Freecharge UPI 25,000+
Deposit accounts sourced
Offer strong and differentiated value propositions to
• UPI, Bill-payments, Recharges &
retail and small businesses with ability to cross sell
Payments Digital
Fastag,CA EMI collection payments
• QR & SMS based payments for SMB
and upsell in the future `38 crores
Profit after tax (FY21)

* SMB - Small and medium businesses 48

 A.TReDS continues to provide a strong platform for MSMEs to source funding

A. TReDS is one of the three entities allowed by RBI to set up an electronic Trade Receivables Discounting System platform to serve funding needs of MSMEs.

‘Invoicemart’, our digital invoice discounting platform continues to maintain its leadership with alliances in the fintech and supply chain space.

Our strong tech and supply chain expertise… …has led to wide participation… …resulting in strong growth in throughput

in ` Cr

• Thorough understanding of supply chain finance and

marketplace
9250+ 4,779 4,974
participants
• Tech based secure origination and settlement
processes
2,297
486
• Intuitive and best in class UI Cities 415

• Integration capability with client ERP systems through FY18 FY19 FY20 FY21
open API 36%
Market share
• Unique risk rule engine and compliance towards KYC
and customer onboarding 6.6 lakh `12,465 Cr
Cumulative* Invoices Cumulative* throughput
discounted

*Since July’17 till Mar’31

49
 Max Life – 4th largest* private life insurer in India

▪ Axis Bank completed the stake acquisition in India’s 4th largest* private life insurance company in Apr’21 to become a co-Promoter.

▪ This strategic partnership would further strengthen and deepen our relationship leading to better integration and alignment of the teams

Update on Axis Bank stake acquisition Strong and diversified business mix Healthy operating performance

Product Mix
10.8%
• 12.99% stake owned by Axis Bank together with its Private market share*
subsidiaries, Axis Capital and Axis Securities, with
right to raise stake further to 19.99%. PAR

ULIP
19%
`90,407 cr | 32% YoY
• To enhance customer trust further and highlight the 37%
Ind. Protection
9% Assets under management
strength of the partnership, Max Life’s tag line now
includes the Axis Bank name and logo Group Protection
Non-PAR Savings
30%
5% `11,834 cr
Embedded Value

• 3 nominee directors from Axis Bank on the Board of

Max Life.
25.2%
Distribution Mix New Business margin

• ~20 lakh : Number of customers to whom Axis Others

Bank sold the long-term saving and protection

1%
18.5%
Proprietary Operating RoEV
products of Max Life over the last decade 28%

• Both companies have invested extensively in product 196%

Banca
and need-based sales training, thereby leading to a 71% Solvency ratio
consistent increase in productivity.

* based on new business premium 50

In conclusion, over the last two years we have made considerable progress in our One
Axis journey with focus on delivering better value for customers across the Group

An electronic invoice discounting Retail and Wholesale segments engage with

platform for SME clients subsidiaries to offer ‘One Axis’ solutions

Freecharge
Cross sell of Axis Bank’s FDs, Working closely with Axis Capital & Burgundy
Cards and MFs on its platform Private teams to enhance distribution for
Structured Finance business

Multiple trusteeship mandates won through 24 mandates won through One

close co-ordination with the Bank teams Axis across IPO, FPO, QIP, Rights
issues, OFS and preferential issues

Increasing penetration in Bank’s customer Complements the Bank’s product offerings and
base with focus on Burgundy customers cross-sell of consumer finance to Bank’s customers

51
Thank You