HDFC Life Insurance Company Limited

rs,

andra-Kurla Complex, Bandra (East), Mumbai- 400 051 Listing Department BSE Limited Sir PJ Towers, Dalal Street, Fort, Mumbai – 400 001 NSE Symbol: HDFCLIFE BSE Security Code: 540777 Dear Sir

18%

77 NSE Code: HDFCLIFE HDFC Life: Another year of sustained performance and consistent delivery: 18% individual APE growth, 13% Value of new business growth and 70 bps increase in overall market shar

13%

FC Life: Another year of sustained performance and consistent delivery: 18% individual APE growth, 13% Value of new business growth and 70 bps increase in overall market share Mumbai, 17th Apr, 2025:

70 bps

rformance and consistent delivery: 18% individual APE growth, 13% Value of new business growth and 70 bps increase in overall market share Mumbai, 17th Apr, 2025: The Board of Directors of HDFC Life appr

11.1%

balanced product mix ▪ Market Share: Overall market share (individual WRP) increased by 70 bps to 11.1% for the period 11MFY25. Private sector market share stood at 15.7%, an increase of 30 bps ▪ Val

15.7%

al WRP) increased by 70 bps to 11.1% for the period 11MFY25. Private sector market share stood at 15.7%, an increase of 30 bps ▪ Value of New Business (VNB) grew by 13% to ₹ 3,962 crore, reflecting rob

30 bps

0 bps to 11.1% for the period 11MFY25. Private sector market share stood at 15.7%, an increase of 30 bps ▪ Value of New Business (VNB) grew by 13% to ₹ 3,962 crore, reflecting robust growth in profita

₹ 3,962 crore

r market share stood at 15.7%, an increase of 30 bps ▪ Value of New Business (VNB) grew by 13% to ₹ 3,962 crore, reflecting robust growth in profitable business ▪ Assets under Management (AUM): AUM stood at

₹ 3,36,282 lakh crore

, reflecting robust growth in profitable business ▪ Assets under Management (AUM): AUM stood at ₹ 3,36,282 lakh crore as on 31st March 2025, an increase of 15% YoY ▪ Persistency: Our persistency for the 13th and 6

15%

under Management (AUM): AUM stood at ₹ 3,36,282 lakh crore as on 31st March 2025, an increase of 15% YoY ▪ Persistency: Our persistency for the 13th and 61st months stood at a strong 87% and 63%, r

87%

increase of 15% YoY ▪ Persistency: Our persistency for the 13th and 61st months stood at a strong 87% and 63%, respectively. Notably, our 61st-month persistency saw a significant improvement of 1000 b

63%

of 15% YoY ▪ Persistency: Our persistency for the 13th and 61st months stood at a strong 87% and 63%, respectively. Notably, our 61st-month persistency saw a significant improvement of 1000 basis po

“HDFC Life was recognised for its inclusivity and employee-friendly policies, being awarded the Best Companies for Women in India 2024 in the BFSI sector and Exemplar of Inclusion (Most Inclusive Companies India 2024) by Avtar & Seramount CEO’s Statement: Vibha Padalkar, Managing Director and CEO of HDFC Life, commented: “FY25 was a year where we deepened our reach, continued sharpening our value propositions and demonstrated the resilience of our business model.”

“We are happy to report an 18% growth in Individual APE for FY25, in line with our stated growth aspirations for the year.”

“Although Company believes that such forward- looking statements are based on reasonable assumptions, it can give no assurance that such expectations will be met.”

“FY23 VNB was elevated due to budget changes in FY23, 2 year CAGR for FY24 VNB stands at 13% FY22 operating variance includes excess mortality impact due to Covid-19 3.”

“mkt rank Overall mkt share #2 10.8% 112.6 FY23 15.4% #2 10.4% 113.8 FY24 15.7%1 #21 11.1%1 133.6 FY25 10% 1,267 FY25 982 FY21 1,054 FY23 2 Year CAGR Balanced product mix Focus on diversified channel mix Total APE 5% 4% 34% 28% 14% Total NBP 20% 18% Individual APE 10% 18% Individual NBP 22% 17% 7% 6% 8% 6% 4% 11% 17% 13% 27% 59% 50% UL Par Non par protection Non par savings Annuity Group retirals Agency Corporate Agent (Banks) Corporate Agent (Others) Broker Direct 7 7 1.”

“Basis 11M Life Insurance Council data Robust delivery across key metrics (2/2) Significant improvement in 61st month persistency Healthy VNB growth 87% 87% 63% 53% ▪ Focus on quality of business and providing superior customer experience _ 13th 61st FY24 FY25”

“26.3% 25.6% 13% 39.6 35.0 FY24 FY25 YoY Growth Rs bn ▪ Multiple pools of profitability contributing to VNB accretion Strong growth in renewal premium Group assets under management > Rs 4.5 tn1 13% 377 FY25 334 FY24 YoY Growth Total”

“3,692 4,519 ▪ Backed by strong persistency and growing backbook 770 2,922 1,156 3,363 ▪ HDFC Life Debt:Equity mix (FY25): 69:31 ▪ HDFC Pension’s AUM crossed Rs 1.15 tn 31st Mar, 2024 HDFC Life AUM 31st Mar, 2025 HDFC Pension AUM 8 8 1.”

“Comprises share capital, share premium and accumulated profits/(losses) Note: Numbers may not add up due to rounding off FY25 333.7 376.8 710.5 136.2 154.8 18.0 9.1 9.0 4.3 3,363 554.2 156.8 49.7 1,267 FY24 296.3 334.5 630.8 115.1 132.9 15.7 6.7 8.9 4.1 2,922 474.7 142.0 66.0 1,166 FY23 290.9 284.5 575.3 114.0 133.4 13.6 5.9 7.7 3.6 2,388 395.3 129.7 68.5 1,054 Financial and operational snapshot (2/2) Rs bn.”

“Market share for FY25 pertains to 11M FY25 41 3.”

Performance Highlights

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NBM

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AUM

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Modes of Risk Awareness

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Platform for employee engagement

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Camp

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HR tech

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Bima Trinity initiative to catalyse growth

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Performance Highlights

▪ Topline Growth: Delivered strong individual APE growth of 18%, supported by increase in both number of policies sold and ticket size and a balanced product mix ▪ Market Share: Overall market share (individual WRP) increased by 70 bps to 11.1% for the period 11MFY25. Private sector market share stood at 15.7%, an increase of 30 bps ▪ Value of New Business (VNB) grew by 13% to ₹ 3,962 crore, reflecting robust growth in profitable business ▪ Assets under Management (AUM): AUM stood at ₹ 3,36,282 lakh crore as on 31st March 2025, an increase of 15% YoY ▪ Persistency: Our persistency for the 13th and 61st months stood at a strong 87% and 63%, respectively. Notably, our 61st-month persistency saw a significant improvement of 1000 basis points, demonstrating the company's deep customer engagement and effective retention initiatives ▪ Embedded Value (EV) grew by 17% and stood at ₹ 55,423 crore, with 16.7% operating return on EV, showcasing sustained long-term value creation for shareholders

NBM

26.3% 25.6% 13% 39.6 35.0 FY24 FY25 YoY Growth Rs bn ▪ Multiple pools of profitability contributing to VNB accretion Strong growth in renewal premium Group assets under management > Rs 4.5 tn1 13% 377 FY25 334 FY24 YoY Growth Total

AUM

3,692 4,519 ▪ Backed by strong persistency and growing backbook 770 2,922 1,156 3,363 ▪ HDFC Life Debt:Equity mix (FY25): 69:31 ▪ HDFC Pension’s AUM crossed Rs 1.15 tn 31st Mar, 2024 HDFC Life AUM 31st Mar, 2025 HDFC Pension AUM 8 8 1. Group assets under management (AUM) includes AUM of HDFC Life and HDFC Pension (wholly owned subsidiary) Agenda 1 2 3 4 Performance Snapshot Business Overview Other Business Highlights Life insurance in India 9 Key elements of our strategy 1 2 3 4 Profitable growth Ensuring sustainable and profitable growth by identifying and tapping new profit pools Diversified distribution mix Developing multiple channels of growth to drive need-based selling & deepening penetration Customer first Creating superior product propositions and customer journeys, through consistent innovation Risk management & board governance Maintaining focus on risk management guided by an independent and competent Board 5 Future ready organisation: Leveraging technology, digital and ana

Modes of Risk Awareness

o Annual mandatory training for all employees o Security workshops and case study discussions o Specially curated programs and sessions for senior leadership o Monthly awareness mailers o Security posters and leaflets o Phishing Simulation Campaigns • Board Diversity Policy • Code of Conduct • Corporate Governance Policy • Data Privacy Policy • Investor Grievance Policy • Responsible Investment (RI) Policy • Stewardship Policy • Tax Policy • Whistleblower Policy • Corporate Social Responsibility (CSR) Policy • Diversity, Equity and Inclusion (DEI) Policy • Human Rights Policy Dedicated helpdesk and email reporting on the breaches id’s for • Policy for Prevention and Redressal of Sexual Harassment (PRSH) Information security controls modelled in line with: o ISO 27001 standards o IRDAI mandated cyber security guidelines • Supplier Code of Conduct • Health & Safety Policy • Environment and Climate Change Policy Responsible Investment RI – Policy, Framework & Governance structure Responsi

Platform for employee engagement

o CEO Speaks o HDFC Life Got Talent o E-appreciation cards Leadership and expert create awareness on various inclusion sessions to topics of Training & Development Career and interventions; woman mentoring coaching development Mobile learning app for self-paced learning Training for all including employees, contractors, channel partners / Virtual product training Skill Up: A curated online training programs from reputed universities Launched Skillshots – AI based learning • • • • • • • • • • • • • Launched Leadership Edge for mid-management Special programs for campus hires Career microsite & job portal Leadership pathways for senior management STRIDE program for HI-PO employees Managers Transformation League: Leadership development program for middle management • • • • New Manager Boot development program for First Time Managers

Camp

Leadership Great Place to Work recognition - India's Best Workplaces for Building a Culture of Innovation by All 2024 ET Best organisation for Women 2024 Top 100 Best Companies for Women 2023 & Exemplar of Inclusion 2023 by Avtar & Seramount Brandon Hall Excellence Awards 2023 – Gold Learning Program’ ‘Best Blended award for Long term incentive plans in the form of ESOPs and cash to attract, retain and motivate good talent Elaborate for Managerial Personnel and critical senior roles succession planning Key Attracting Talent Key Performance Indicators Hybrid work model and flexi hours to attract gig workers • Employee Satisfaction Score: 85% Robust employee referral schemes • Women Representation: 26.9% Hire–train-deploy model through tie-up with reputed learning institutions • Average hours of training per hour per employee: 71.35