DECLARATION BY KOTAK MAHINDRA LIFE INSURANCE COMPANY LIMITED

Kotak Mahindra Life Insurance Company Limited confirms and certifies that all statements, disclosures and undertakings
specifically made or confirmed by it in this Prospectus, about or in relation to itself, as a Selling Shareholder and its portion of
the Offered Shares, are true and correct. Kotak Mahindra Life Insurance Company Limited assumes no responsibility for any
other statements, including any of the statements made or confirmed by or relating to the Bank, any other Selling Shareholder or
any other person(s) in this Prospectus.

SIGNED FOR AND ON BEHALF OF KOTAK MAHINDRA LIFE INSURANCE COMPANY LIMITED

Name: Pradeep Kumar Mahapatro Name: Cedric Fernandes
Designation: Executive Vice President Designation: CFO
Place: Mumbai Place: Mumbai

Date: March 20, 2021 Date: March 20, 2021

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