Investor Presentation Q1 FY21

July 2020
NAM India - Profile

One of the largest Asset Manager in India, with 25 years of track record

NAM India AUM (as of June 30, 2020)

INR 2.74 trillion
Mutual Funds Managed Accounts International
INR 1,881 bn* INR 801 bn INR 55 bn
Advisory INR 39 bn

~290 ~1,040 Over 76,900 8.9 mn 9.1 mn

Locations Employees Distributors Q1 FY21 Trnx Folios

* AUM as on June 30, 2020

2
‘Business As Usual’ in unusual circumstances
❑ Pandemic has induced major permanent changes in our “way of life”

❑ New CHALLENGES and uncharted OPPORTUNITIES

❑ In light of the ‘New Normal’, NAM India demonstrated resilience:

❑ Protection and nurturing of human capital - our greatest strength

❑ Realignment of risk & investment strategies - enhanced risk framework

❑ Administrative and collaborative practices - better operating efficiencies

❑ Digital ecosystem - deeper and wider investor connect

❑ Gradual re-opening of branches - B30 investors / distributors

3
Key Highlights - Q1 FY21…

Recovery on track in uncertain times

Fixed Income EOP AUM up 14%

Q1 FY21 EOP AUM rose to INR 1,881 bn
(vs. Q4 FY20)
(+15% vs. Q4 FY20)
Sub AA / unrated assets* down from 8.4% to 4.6%

Q1 FY21 Total Income reduced by 7% to

Total Operating Expenses fell by 24%;
INR 3.4 bn due to MTM impact
employee costs decreased by 13%
on Equity AUM

Q1 FY21 Profit after Tax at INR 1,563 mn

- an increase of 25%

* except Nippon India Credit Risk Fund

& Nippon India Hybrid Bond Fund 4
Key Highlights - Q1 FY21

Retail AUM contributed 24% of NIMF NIMF has 6.1 million Unique Investors;
AUM vis-à-vis 19% for the Industry 29% market share in the Industry

100% operational during the lockdown;

Digital contribution to total NIMF
accruing benefits from early investments
business transactions rose to 56%
in digital ecosystem

5
Industry AUM Trends
Industry - Quarterly AUM Trend
Industry AAUM (INR bn)

26,776 27,037
25,506 25,689 7%
6% 24,628
5% 6%
7%
20% 20%
21% 22%
22%

31% 31% 32%

31% 32%

42%
42% 42% 43% 39%

Jun-19 Sep-19 Dec-19 Mar-20 Jun-20

Equity Debt Liquid ETFs

Industry began Q1 at a much lower base due to sharp fall in March 2020
* Quarterly Average Assets under
Management
7
Nippon India MF - AUM Trends
NIMF - Monthly AUM Trend
Oct 2019 - Renamed as “Nippon India Mutual Fund”
Highest
2,405 NIMF AAUM (INR bn)
April 14, 2019 Peak pre-COVID19
2,352 2,210
Feb 2020 Recovery during Covid19
Lowest
2,210 1,906
2,156 2,171 1,886 June 2020
2,095 Sept 30, 2019 2,077 2,100
2,072
2,013 COVID19
1,970 1,983
17% impact
1,906
1,847
1,766
22% 1,731
10%
22%
Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20

Since Sept 2019, NIMF benefitted from greater investor confidence

(370+ institutional clients added)
Post COVID19 impact in March & April 2020, AUM has shown a rising trend
* Monthly Average Assets under
Management
9
NIMF - Quarterly AUM Trend
NIMF AAUM (INR bn)

2,226
12% 2,026 2,044 2,049
14% 13% 14% 1,801
15%
14% 16% 16% 14%

31% 19%
29% 27%
28%
29%

42% 43% 44% 42% 38%

Jun-19 Sep-19 Dec-19 Mar-20 Jun-20

Equity Debt Liquid ETFs

AUM recovery impacted in Q1 due to Covid issues in March and April 2020
* Quarterly Average Assets under
Management
10
NIMF - Fixed Income Assets
Fixed Income AAUM (INR bn)
1,022
873 875 895 863
337
275 322 323 348

685 598 553 573 514

Jun-19 Sep-19 Dec-19 Mar-20 Jun-20

Debt Liquid

❑ On an average, NIMF onboarded 120+ new institutional investors every quarter

(Oct 2019 onwards)
❑ Out of top 100 corporates (S&P BSE 100), 26 corporates begun to reinvest with NIMF
❑ NIMF saw fresh inflows from HNI / family offices (75+ new investors)
❑ Fixed Income assets have stabilised
❑ Debt MAAUM: Industry decreased by 13%, while NIMF fell by 4% (vs. Mar 2020)
* Quarterly Average Assets under
Management 11
NIMF - Equity Assets

Equity (Incl. ETF) AAUM (INR bn)

1,157 1,100 1,119 1,100

871

Jun-19 Sep-19 Dec-19 Mar-20 Jun-20

❑ Despite MTM impact on Equity AUM, net inflows was INR 10 bn in Q1 FY20

❑ During the quarter, despite branch closure:

❑ added over 208,000 retail folios

❑ new SIP Purchases of more than 244,000

❑ onboarded over 650 IFAs

* Quarterly Average Assets under
Management 12
 1 2

Recovery on track Leading the Digital Adoption

New Normal

3 4

Leveraging ETF first mover advantage Continue to build on Retail Strength

 1

Recovery on track

New Normal
Recovery continues as planned despite turbulent times
A new Digital Purchase every… A new SIP Purchase every…

16s 11s 25s 22s

FY20 Q1 FY21 FY20 Q1 FY21

A new ETF folio added every…

FY20 243s 46s Q1 FY21

Despite branch closure, added ~3,500 investor folios every day in Q1

* Frequency in seconds calculated with
assumption of 252 days in a year 15
Business activity remained uninterrupted
❑ Seamlessly implemented Business Continuity Plan in March 2020
❑ All business operations continue to be executed with 100% efficiency

❑ Support to Distribution partners

❑ Conducted more than 300 Online Training sessions for our distributors to ensure that they are
digital-ready & can handhold investors in tough markets
❑ Engaged more than 20,000 partners, spread across IFAs and employees of Banks & National
Distributors

❑ Market Update
❑ Sales, Product & Fund Management executives connected with investors and other
stakeholders to render market updates & address business-related concerns
❑ Portfolio Managers have conducted ~300 calls / webinars (incl. offshore funds)

❑ Our People are our biggest strength

❑ Entire leadership reaching out to all employees via #Connect2Care initiative
❑ Engagement plan for connecting, up-skilling and keeping employees motivated

16
 2

Leading the Digital Adoption

New Normal
Digital Business - Delivering Today, Ready for Tomorrow

Lumpsum & New SIP Registration

Digital Purchases (lakhs)*

Q1 FY21 4.81
43%
Q4 FY20 3.37

❑ Digital contribution-to-total NIMF purchase transactions at 56%

❑ Digital Lumpsum Purchase Transactions grew 16% vis-à-vis Q4 FY20

❑ New Digital SIP Purchase grew 116% in Q1 FY21 vis-à-vis Q4 FY20

* Including New SIP registrations

* Digital purchases through NIMF-owned
Digital assets and digital integrations 18
with distribution partners
Transformation - “Feet on Street” to “Finger on Screen”

SIP cancellation Pureplay purchase

prevention: on WhatsApp
SIP Pause
Liquid fund purchase
SIP Journey
for retail investors
intervention when
within WhatsApp
investor initiates
without any external
online SIP cancellation
redirections

Further enabling
SIP Top-up
Retail investors
pre-filled links
Pre-filled transaction Retail individual investors
links sent directly to can now do online
investors to facilitate investments under their
SIP amount top-up pre-created HUF / SP
folios.

Payment Gateway Business Easy App

Interventions for EUIN holders
Smart Routing & Retry for
reducing potential Unlocking business
failures & drop-offs; opportunity from
reducing leakages and NDs, BNDs & PSU
maximizing transaction Distribution
success.

19
Corporate Solutions Suite - A full spectrum Digital Asset
Full Spectrum Digital asset for the Institutional Business segment
Capability to run Digital campaigns, generate leads, drive conversions, onboarding, transactions & servicing
The 3 pillars of transformation
Institutional Investor Acquisition Transition to Digital Going Mobile!
▪ Ability to run acquisition ▪ Automated, self serve processes for ▪ Mobile first approach with cross
focused campaigns on digital offline corporate customers to migrate device compatibility
channels to online ▪ Clients no longer need to be
▪ Generating real time leads ▪ Transition to digital transactions and confined to their offices to initiate
online services and authorize transactions

Mobile-first approach: Mobile first approach Digital automation (for Salary Addvantage): Easy,
provides the convenience of investing self-serve account creation, enrolment for new
solutions on the go investors, transaction capability & automated salary
processing
Frictionless experience: Simplified Easy creation of an online account
and intuitive design based on the and transition from offline: A self-
latest UI/UX principles serve module that helps customers
enroll for online services
Full spectrum: From Lead
generation, conversion & Transaction authorization on the
onboarding to last mile move:
transactions/investments Experience the ease of authorization
from your mobile (Email ID)
Group service:
Easy access to services for any of Targeting CXOs / SMEs: Outreach
the group company’s accounts across India irrespective of physical
presence
A best in class digital asset
Detailed content: Building confidence through Unified view: Detailed content at one
for increased business our credentials, expertise, management & place about our Corporate/Institutional
opportunity leadership along with product offerings making business as well as Salary Addvantage
Unlocking opportunities with a wide a compelling pitch programme
spectrum of capabilities!

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 New Normal

Leveraging ETF first mover advantage

ETF - Extensive investor base and activity
Large ETFs product suite

~76% ~36% ~15%

Volume Share Share of folios Market Share

❑ Only AMC in India with more than 18 years experience in managing ETFs

❑ Largest bouquet of 19 ETFs in the industry across Equities, Debts & Commodity (Gold)

❑ On QAAUM basis, NIMF ETFs managed assets worth INR 258 billion

❑ Highest investor folios in Industry - approx. 36% Market Share of ETF folios

❑ Approx. 76% market share in ETF volumes on the NSE & BSE (April 2020 - June 2020)

❑ 1st AMC to launch ETF jointly in partnership with GOI as a part of divestment program

22
ETF - First Mover Advantage paying off
Category leading - largest ETFs in Industry

Nippon India ETF Gold BeES Nippon India ETF Bank BeES
Nippon India ETF Junior BeES Nippon India ETF Liquid BeES

Average daily volumes outpacing rest of the Industry

NIMF ETF volume as a multiple of ‘Rest of the Industry’

13x 42x 67x

49x
19x
5x
Nippon India ETF Bank BeES Nippon India ETF Nifty BeES Nippon India ETF Liquid BeES

Q4 FY20 Q1 FY21

❑ Gold BeES fund added over INR 10 bn to cross assets of INR 42 bn in June 2020
❑ Average daily volumes are approx. 12x of the ‘Rest of the Industry’ volumes

Added over 117,000 ETF folios in Q1 vs. 97,600 in entire FY20

23
New Normal

Continue to build on Retail Strength

NIMF - Unique Investors

3 out of 10 unique investors in the Industry invest with NIMF

Industry NIMF Market share (%)

(in million)

6.1
June 30, 2020 29%
21.1

6.0
Mar 31, 2020 29%
20.8

5.9
June 30, 2019 30%
19.6

Sustained high market share in challenging conditions

A testament to NIMF’s retail strength
Source: AMFI
25
Focus on Retail & Small towns

Retail AAUM / Total AAUM (%)

NIMF 24%

Industry 19%

SBI 13%

HDFC 17%

ICICI 14%

Birla 19%

Higher composition of Retail Assets in AUM at 24% vis-à-vis 19% for the Industry

Source: AMFI;
Calculated on Monthly Average AUM
26
Retail Assets
72% of the Individual assets have a vintage of more than 12 months (June 30, 2020)
Retail AAUM (INR bn)

557 546
519
444 460

Jun-19 Sep-19 Dec-19 Mar-20 Jun-20

“Retail Investor Classification” changed from INR 0.5 mn to INR 0.2 mn

as per the guidelines issued by AMFI

Source: Internal;
Calculated on Monthly Average AUM
27
Beyond 30 cities (B-30) Contribution
Higher AUM % sourced from B-30 locations as compared to Industry

B-30 AAUM / Total AAUM (%)

NIMF 17.3%

Industry 15.4%

B-30 segment has higher proportion of Equity Assets

Focus on building B-30 AUM by leveraging on-ground presence

Source: AMFI;
Calculated on Monthly Average AUM
28
Geographical
GeographicalDe-Risking
De-risking

Top 5 Cities Contribution* (%) Beyond 15 Cities Contribution* (%)

ICICI 73% NIMF 19%

SBI 72% Industry 24%

HDFC 69% SBI 18%

Industry 64% HDFC 16%

NIMF 67% ICICI 14%

Lower concentration of assets Higher Penetration in Smaller cities

from Top 5 cities and towns

Source: AMFI;
AUM as on June 30, 2020
29
 Systematic Transactions - Long & Stable Inflows

Monthly Flows Tenure (SIP book)

9.00 5.0

8.00

8.1 4.5

7.00

7.6 7.5
6.00
7.2 7.0 4.0

5.00

3.5

83%
4.00

3.00

3.2 3.3 3.2 3.4 3.0

79%
3.2
2.00

2.5

1.00

- 2.0

Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 >5 years >10 years

Book (INR bn) Count (mn)

Annualized book of INR 84 bn

In volatile markets, folios with lower ticket size demonstrated longer vintage

Source: Internal
30
Risk Management - Philosophy
Enhanced conservative positioning
In May 2020, Board decided that all NIMF’s schemes* will make fresh investments
only in AA & above rated issuers

Credit Rating Profile of NIMF’s Fixed Income assets

Rating June 30, 2020 Mar 31, 2020

Sovereign / AAA / A1+ / AA+ / Upto AA 90.0% 81.2%

Repo / Cash 5.4% 10.6%

Sub AA / Unrated 4.6% 8.2%

Total Debt AUM 100.0% 100.0%

Above table considers open ended Debt Funds (incl. Liquid Funds)

❑ Share of ‘Sovereign / AAA / A1+ / AA+ / upto AA instruments and cash’ rose to 95.4%

❑ Proportion of ‘sub-AA / unrated instruments’ reduced from 8.2% to 4.6%

Such steps will further help investors looking for safer haven & high-grade portfolios
* except Nippon India Credit Risk Fund
& Nippon India Hybrid Bond Fund
32
Distribution
Strong Distribution
Empaneled approx. 700 New Distributors in Q1 FY20; total base at over 76,900

Banks

77

National
Distributors
96

Alternate
(incl. PSU banks)
91

Tie-ups with over

20 prominent
Digital partners ~76,600

34
Leveraging Partnership with IFA
Distributed Assets form 48% of NIMF’s AUM

Overall Distribution Mix Distributed Assets Mix

Banking
Direct Distributors
Distributed 28% Independent
Channel Assets Financial
52% 48% Advisors
National 54%
Distributors
18%

De-risked distribution model

Large share of the AUM is contributed by strong base of IFAs
Source: AMFI;
Calculated on Monthly Average AUM
35
Focus on Individual assets

Distributed Assets (investor-wise)

AUM (INR bn)

Corporate
23% Retail
43%
390
307 HNI
214 34%

Retail HNI Corporate

76% of the Distributed Assets are contributed by Individual investors

Source: AMFI;
Calculated on Monthly Average AUM
36
Leaders in Investor Education

EDGE Learning Academy (Q1 FY21)

Investor Education Unique Locations Mobile App MFx

30 T-30
Programs 25 Programs

1,600+ B-30
Investors
5 Programs

Dedicated Investor Education App MFx

37
Other Businesses
Nippon India Alternate Investments (NIAIF)

❑ Category II & Category III AIFs across various asset classes

❑ Equity / Real Estate / Credit & Technology / Venture Capital FoF

❑ As on June 2020, commitments raised over INR 34 billion across funds

❑ Commitments and LOI’s of approx. USD 100 mn in Nippon India Digital Innovation Fund

❑ Initiated investment activities; commitments made in two underlying VC funds

❑ Launched India’s 1st fully digitally-compliant on-boarding process for AIF investors

❑ Fund raising underway for:

❑ Equity: Category III AIF for domestic investors

❑ Real Estate: Category II AIF for offshore institutional investors

❑ Tech / VC: Category II AIF for both domestic and offshore institutional investors

39
Offshore Business
AUM of INR 95 bn as on June 30, 2020
Leveraging Nippon Life’s Insurance
Particulars Amount in INR bn global network
Advisory 39
Managed 55
Total 95
Hokkaido

Singapore Mauritius
Dubai

Singapore
Sendai

❑ Best Idea's Fund SICAV -SIF ❑ IMSF - Equity Opp. Fund

Kanazawa
❑ Cohesion India Best Idea (Delaware) Feeder
LLC Tokyo
❑ WIF - India Consumption Fund Kyoto Mt. Fuji
❑ RAMS Equities Portfolio fund-UCITS Nagoya
❑ Institutional Equity Mandate - Hiroshima Osaka
❑ RAMS Investment Unit Trust - IFIF Fund 238 Fukuoka
Matsuyama
Nagasaki

Other International Tie Ups Nissay Short Term Indian Bond

Nissay India Equity Selection Fund
Nissay Indian Bond Mother Fund

ETFS Reliance India Nifty 50 ETF Distribution of NAM India’s Funds via
Bualuang Bharata Fund 28 Nissay AM’s partners in Japan

Cohesion Best Idea’s Fund - SIF 40

Increasing Global Presence

Empaneled a new Distributor for Latin America in Q1 FY21

41
Financial Overview
Financial Summary - As per IND AS
Consolidated (INR mn)
Particulars Q1 FY21 Q4 FY20 Q1 FY20
Revenue from Operations 2,331 2,745 3,251
Operating Expenditure 1,365 1,222 1,799
Fee & Commission Expenses 94 198 252
Employee benefits expense 715 529 825
Finance cost 13 5 17
Other Expenses 439 402 629
Depreciation 105 89 76
Core Operating Profit 966 1,523 1,452
Other Income 1,031 (1,249) 353
Profit before Tax 1,997 274 1,805
Profit after Tax 1,563 37 1,254
Standalone
Particulars Q1 FY21 Q4 FY20 Q1 FY20
Revenue from operations 2,154 2,545 3,082
Core Operating Profit 937 1,499 1,436
Profit after Tax 1,497 119 1,226

43
Financial Assets
Constituents of Financial Assets
(INR mn) June 30, 2020 March 31, 2020
Investment in NIMF’s schemes 19,340 16,804
- Equity 3,319 2,809
- Debt 16,022 13,994
Bank FDs and tax-free bonds 5,225 5,984
Other assets 1,529 1,575
Total 26,094 24,362
Other Other
NIMF - NIMF -
Assets Assets
Bank FDs Equity Equity
6% 6%
/ tax-free 13% Bank FDs 12%
bonds / tax-free
20% bonds
25%
NIMF -
NIMF - Debt
Debt 57%
61%

As on June 30, 2020 As on March 31, 2020

Variation in Equity assets due to MTM impact in March (loss) and June (gain) 2020

44
Dividend History
Earnings Per Share (INR) Dividend Payout (INR Bn)

7.94 4.42 4.42

7.62
3.44
2.98

6.85
6.69

FY 17 FY 18 FY 19 FY 20 FY 17 FY 18 FY 19 FY 20

Total Dividend paid INR 5 per share in FY20

84% of FY20 Earnings shared with Shareholders

Paid cumulative dividend of INR 23+ bn in last 7 financial years

* Including Dividend Distribution Tax

45
Summary
Recovery on track
• NIMF’s AUM growth in line with the Industry
• Onboarded 370+ institutional investors since Sept 2019
• Attracted fresh flows from 75+ HNIs / family offices

Digital Ecosystem - “Feet on Street” to “Finger on Screen”

• Contribution of Digital Assets grew significantly in Q1
• Full spectrum digital asset for institutional investors

Retail Assets
• Focus on high-yielding retail assets led to growth in Individual AUM in June 2020
• B-30 category retained its high share of NIMF’s AUM as compared to the Industry

Continue investing for future growth opportunities

• Stable management team
• ETF: captured higher share in market volumes; Gold Fund crossed INR 40 billion-mark
• AIF / International businesses
46
Thank you for your time!
Stay safe!
Annexure
About Nippon Life
About Nippon Life Insurance
❑ Fortune 500 company (Rank 125 in 2019)1

❑ Japan’s largest private life insurer & one of the largest in the world2

❑ Total assets over US$ 720 bn3

❑ 50 Asset Management related operations & 21 Insurance related operations Globally4

Presence in India
Asset Management Life Insurance
Shareholding - 75%5 Shareholding - 49%5

Market Share in Japan (Premium Income)6 Key Figures

19.5%
Premium income ¥5,719.3bn (FY2020)
14.1%
Core operating profit ¥281.4bn (FY2020)
9.2% Total assets ¥80,081.2bn (Mar-2020)
8.1%
7.1%
Solvency margin ratio 1,047.5% (Mar-2020)
Number of insured persons11 13.83 million (Mar-2019)

7 8 9 10 Sales representatives11 61,111 (Mar-2019)

Nippon Dai-ichi Life Meiji Yasuda Sumitomo Prudential
Life Life Life Financial
1. www.fortune500.com 2. Company disclosure and the Life Insurance Association of Japan 3. 2020 March Financial Results of Nippon Life, USD1=JPY108.83, 4.2019 Annual Report of Nippon Life
5. Respective company websites on 31th March, 2020 6. FY2019. Excluding Japan Post Insurance. Company disclosures and the Life Insurance Association of Japan
7. Nippon Life represents the sum of Nippon Life, Taiju Life and Nippon Wealth Life 8. Dai-ichi Life represents the sum of Dai-ichi Life, Dai-ichi Frontier Life and Neo First Life
9. Sumitomo Life represents the sum of Sumitomo Life and Medicare Life 10. Prudential Financial represents the sum of Prudential Life, Gibraltar Life and Prudential Gibraltar Financial Life
11. The sum of Nippon Life and Taiju Life

50
Nippon Life Group

Nippon Life

Domestic Insurance Business Asset Management Business Overseas Insurance Business

Taiju Life Nippon
(82.6%) Reliance Nippon
Life India Asset
Revenues from insurance and Life Insurance
Management
reinsurance premiums (FY2020): (49.0%)
$6.1bn (75.0%) GWP (FY2020): $0.6bn
AUM (2020): $ 37bn1
Nippon Wealth Life MLC Life Insurance
Nissay Asset Management (80.0%)
(85.1%)
Revenues from insurance and (100.0%) Revenues from insurance and
reinsurance premiums (FY2020): AUM (2020/3): $121.3bn reinsurance premiums (FY2019): $1.2bn
$2.8bn
Bangkok Life Assurance
The TCW Group (24.2%)
Hanasaku Life (24.8% by subsidiary2) GWP (FY2019):$1.1bn
(100%) AUM (2020/3): $212bn

PT Asuransi Jiwa Sequis Life

Post Advisory Group (68.3% by Nippon Life’s affiliate3)
Retail Agent (19.6% by subsidiary2) GWP (FY2019):$0.2bn
Life Salon
AUM (2020): $16bn
(100.0%)
Nippon Life Insurance
Life Plaza Partners Company of America
DWS Group
(100.0%) (97.0%)
(5.0%)
HOKEN110 AUM (2020/3): $770.0bn
(100.0%) Grand Guardian
Life Insurance
(35.0%)

Source: Company filings, Company webpage, SNL Notes: USD1=JPY108.83; USD1=INR75.37; USD1=AUD1.63; USD1=THB32.77; USD1=IDR16,037 ; USD1=EUR1.10 (as of March 2020)
1. AUM represents total AUM of mutual fund and portfolio management business as of June 2020
2. Held by Nippon Life’s fully owned subsidiary NLI US Investments
3. 68.34% held by Nippon Life’s equity-method affiliate PT Sequis, in which Nippon Life holds 29.26% of the total voting rights. 0.01% is held directly by Nippon Life

51
Board Of Directors
Profile of Board Members

General Ved Prakash Malik (Retd.) (Independent Director) has worked in the Indian Army as Chief of
the Army Staff from October 1, 1997 to September 30, 2000. He had dual responsibility of being an advisor to
the Government as well as commander of 1.2 million strong Indian Army to fulfill its national role and assigned
missions. During the service at Indian Army, General Malik was bestowed with prestigious awards like Ati
Vishishta Seva Medal (1986) and Param Vishita Seva Medal (1996). He has also received ‘Excellence in
Leadership Award’ by Atur Foundation, ‘Pride of Nation Award’ by Doon Citizens Council and ‘Distinguished
Fellowship’ by the Institute of Directors, New Delhi (1999).

Ms. Ameeta Chatterjee (Independent Director) has over 18 year​s of corporate finance experience in
developing, managing and executing infrastructure projects across sectors in India and UK. After starting her
career with ICICI Limited in 1995, she moved to KPMG to set up their infrastructure related Corporate Finance
team. During her 8 years with KPMG, she gained experience across various sectors including health, education,
Public Private Partnerships etc. In 2010, she moved to corporate sector as GM - Investments & Acquisitions at
Leighton India Contractors Pvt. Ltd where she worked on various joint venture projects & also oversaw the
finance, tax and secretarial matters. Since September 2011, she has been working as an independent consultant
advising companies on strategic growth, India entry strategy etc.

Mr. Mahadevan Veeramony (Independent Director), is a Chartered Accountant and Company

Secretary with over 32 years of experience with leading Corporates in India covering a wide segment of the
financial services industry for 18 years and as an entrepreneur for 16 years. He has the benefit of working with
established brands in both the public sector & private sector including multinational cos. which has helped in
gaining valuable insight into the functioning of these sectors. The sectors include Investment Advisory Services,
Mutual Fund Industry, Insurance Industry, Wealth Management Services, Banking covering various products
and services like Retail Financial Products Distribution, Retail Forex, Commodities like Gold, in addition to
customer acquisition for Online Broking.

53
Profile of Board Members
Mr. Kazuyuki Saigo (Associate Director) is Managing Executive Officer, Regional CEO for Asia Pacific
Head of India, and is responsible for operations in the Asia Pacific. He joined Nippon Life in 1988 and since then
has held several leadership positions in the Nippon Life Group, including General Manager of Global Business
Planning and Global Insurance Business, General Manager - Personnel Dept. and Sales Manager Personnel
Department. Also, in the last ten years, Mr. Saigo has engaged not only in designing and executing overseas
business, but also managing insurance sales branch, and so on. Mr. Saigo has more than 30 years’ experience in
the life insurance sector.

Mr. Akira Shibata (Associate Director) currently serves as the General Manager / Global Business
Planning Department at Nippon Life Insurance Company (Nippon). In his 20-year professional career with
Nippon, Mr. Shibata has engaged in Finance Planning & Management business for 3 years. Also, Mr. Shibata has
been engaged in Public & Investors Relations for 3 years. Other than above, Mr. Shibata has also spent his
professional career in the Nippon’s U.S. group insurance subsidiary, Nippon Life Insurance Company of America,
where he carried the position of Vice President for 4 years (2008 to 2012).

Mr. Sundeep Sikka is the Executive Director & CEO of Nippon Life India Asset Management
Limited. Sundeep has held both Vice-Chairman and Chairman positions of the industrial body AMFI
(Association of Mutual Funds in India). Sundeep joined NAM India in 2003, holding various leadership positions
before being elevated in 2009, when he became one of the youngest CEOs of India. Possessing rich experience
in the financial services sector, Sundeep went on to lead NAM India towards tremendous growth of assets and
to emerge as one of the most trusted mutual fund houses in India. He has grown the company to an all-round
brand that thrice won ‘Aon Best Employer’ in the last four years and was certified ‘Great Place to Work’ in
2018.

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Disclaimer
This presentation does not constitute a prospectus, an offering circular, an advertisement, a private placement offer letter or offer document or an
offer, or a solicitation of any offer, to purchase or sell any securities under the Companies Act, 2013 and the rules made thereunder, the Securities and
Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law. This presentation
should not be considered as a recommendation that any investor should subscribe for, or purchase, any securities of Reliance Capital Limited or its
subsidiaries or its associates (together, the “Company”) and should not be used as a basis for any investment decision.
The information contained in this presentation is only current as of its date and has not been independently verified. No representation, warranty,
guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness or fairness of
the information, estimates, projections and opinions contained in this presentation. The Company may alter, modify or otherwise change in any
manner the contents of this presentation, without obligation to notify any person of such revision or changes.
This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief
or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company.
These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or other words of similar meaning.
Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from
those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its
operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties,
regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our operations, government policies, regulations
etc. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company.
Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward looking
statements.
None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any
information presented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered
as, indicative of future results. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is
inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as
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This presentation and its contents are confidential and should not be distributed, published or reproduced, in whole or part, or disclosed by recipients
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The information contained herein does not constitute an offer of securities for sale in the United States or in any other jurisdiction. Securities may not
be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.

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