Disclosure under Reg 30 of SEBI (LODR) Reg. 2015

AXIS/CO/CS/519/2022-23

January 23, 2023

Dear Sir(s),

Sub.: Grant of stock options by the Nomination and Remuneration Committee of the Board of Directors of Axis Bank Limited ("the Bank") - Revision

Ref.: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations").

In furtherance to our letter no. AXIS/CO/CS/676/2021-22 dated March 22, 2022 on the captioned subject, we wish to inform you that, based on the directions received from the Reserve Bank of India and on recommendations of the Nomination and Remuneration Committee, the Board of Directors of the Bank has today, approved revision in the vesting period for 6,17,797 stock options. These options shall now vest equally over 4 (four) years @ 25% every year (commencing on expiry of one year from the date of grant) as compared to vesting of 30%, 30% and 40% options at the end of one year, two year and third year, respectively.

All other terms and conditions of the above grants, including exercise price, remains unchanged.

This is for your information and records.

Thanking You.

With warm regards,

For Axis Bank Limited

Sandeep Poddar

Company Secretaryhttp://www.rns-pdf.londonstockexchange.com/rns/5844N_1-2023-1-23.pdf