| THE BOARD OF DIRECTORS OF THE COMPANY, BASED ON RECOMMENDATION OF THE BOARD NOMINATION AND REMUNERATION COMMITTEE, HAS ADOPTED THE PERFORMANCE EVALUATION FRAMEWORK WHICH LAYS DOWN GUIDELINES FOR ANNUAL PERFORMANCE EVALUATION OF THE BOARD, ITS COMMITTEE(S), CHAIRPERSON AND INDIVIDUAL DIRECTOR(S) ("THE FRAMEWORK") IN ACCORDANCE WITH THE APPLICABLE PROVISIONS OF THE ACT, SEBI LISTING REGULATIONS AND IN LINE WITH GUIDANCE NOTE ON BOARD EVALUATION ISSUED BY SEBI ON JANUARY 5, 2017, AND IRDAI CG REGULATIONS. THE EVALUATION FRAMEWORK ADOPTED BY THE BOARD ENSURES A STRUCTURED AND OBJECTIVE ASSESSMENT. THE PERFORMANCE EVALUATION IS CARRIED OUT BASED ON THE EVALUATION CRITERIA AS DEFINED UNDER THE FRAMEWORK ADOPTED BY THE BOARD, ON AN ANNUAL BASIS. SOME OF THE KEY FACTORS AGAINST WHICH THE BOARD’S PERFORMANCE IS ASSESSED INCLUDES: • BOARD AS A WHOLE INCLUDING BOARD REMIT, COMPOSITION, STRUCTURE AND PROCESSES, CULTURE AND COMMUNICATION, RELATIONSHIP WITH MANAGEMENT AND RELEVANT STAKEHOLDERS; • DISCHARGE OF RESPONSIBILITIES AND OBLIGATION; • PROVIDING STRATEGIC DIRECTION, ETHICS & COMPLIANCE, RISK EVALUATION; • EFFECTIVENESS IN OVERSEEING THE MATERIAL ISSUES; • BOARD PARTICIPATION, QUALITY AND TIMELINESS OF FLOW OF INFORMATION BETWEEN THE MANAGEMENT AND THE BOARD FOR DECISION-MAKING. EVALUATION FRAMEWORK AND PROCESS THE EVALUATION PROCESS FOR FY2026 WAS CONDUCTED THROUGH THE APPLICATION BASED SURVEY, LED BY THE CHAIRPERSON OF THE BNRC IN COORDINATION WITH THE CHAIRPERSON OF THE BOARD. THE FRAMEWORK INCORPORATES DEFINED EVALUATION CRITERIA AND GUIDELINES TO FACILITATE A COMPREHENSIVE ASSESSMENT OF THE PERFORMANCE OF THE BOARD AND ITS CONSTITUENT BODIES. ALL THE DIRECTORS OF THE COMPANY PARTICIPATED IN THE EVALUATION PROCESS. THE PERFORMANCE OF THE BOARD IS ASSESSED BASIS ITS ROLES, RESPONSIBILITIES AND OBLIGATIONS, COMPOSITION, STRUCTURE AND PROCESSES, CULTURE AND COMMUNICATION, RELATIONSHIP WITH STAKEHOLDERS, RISK MANAGEMENT AND COMPLIANCE MONITORING, OPENNESS AND TRANSPARENCY IN BOARD ROOM ENGAGEMENTS, DISCUSSION AND GUIDANCE ON STRATEGIC ISSUES, PERFORMANCE ON KEY AREAS, PROVIDING FEEDBACK TO EXECUTIVE MANAGEMENT, RESPONSIVENESS TO EVOLVING BUSINESS AND REGULATORY LANDSCAPES, EXPERIENCE AND DIVERSITY ON THE BOARD, ROBUST SUCCESSION PLAN, QUALITY, QUANTITY AND TIMELINESS OF FLOW OF INFORMATION BETWEEN THE MANAGEMENT AND THE BOARD TO EFFECTIVELY AND REASONABLY PERFORM THEIR DUTIES. THE PERFORMANCE EVALUATION OF THE BOARD COMMITTEE(S) IS BASED ON ASSESSMENT OF THE CLARITY WITH WHICH THEIR MANDATE IS DEFINED, EFFECTIVE DISCHARGE OF TERMS OF REFERENCE AND ASSESSING EFFECTIVENESS OF CONTRIBUTION OF THEIR DELIBERATION/ RECOMMENDATION TO THE FUNCTIONING/DECISIONS OF THE BOARD. THE PERFORMANCE EVALUATION CRITERIA FOR THE CHAIRPERSON OF THE BOARD BESIDES THE CRITERIA FOR ASSESSMENT OF ALL DIRECTORS, FOCUSSES INCREMENTALLY ON LEADERSHIP CAPABILITIES, EFFECTIVE MANAGEMENT OF MEETINGS, SAFEGUARDING THE INTEREST OF STAKEHOLDERS, ABILITY TO GUIDE THE COMPANY IN KEY/STRATEGIC MATTERS AND KNOWLEDGE & UNDERSTANDING OF RELEVANT AREAS. THE PERFORMANCE EVALUATION OF DIRECTOR(S) IS ASSESSED ON THE BASIS OF THEIR PARTICIPATION, CONTRIBUTION AND GUIDANCE TO THE BOARD AND UNDERSTANDING OF AREAS IN THEIR CAPACITY AS THE MEMBER OF THE RESPECTIVE COMMITTEE(S). THE BOARD NOMINATION AND REMUNERATION COMMITTEE EVALUATED PERFORMANCE OF THE BOARD AS A WHOLE AND INDIVIDUAL DIRECTOR(S) INCLUDING CHAIRPERSON OF THE BOARD. IN A SEPARATE MEETING OF INDEPENDENT DIRECTORS, PERFORMANCE OF NON- INDEPENDENT DIRECTORS, THE BOARD AS A WHOLE AND CHAIRPERSON OF THE BOARD WAS EVALUATED TAKING INTO ACCOUNT THE VIEWS OF EXECUTIVE DIRECTOR AND NON-EXECUTIVE DIRECTORS. AT THE BOARD MEETING THAT FOLLOWED THE MEETING OF THE INDEPENDENT DIRECTORS AND MEETING OF THE BOARD NOMINATION AND REMUNERATION COMMITTEE, THE PERFORMANCE OF THE BOARD, ITS COMMITTEE(S) AND INDIVIDUAL DIRECTOR(S) WAS ALSO DISCUSSED. THE BOARD NOTED THE OUTCOME OF THE PERFORMANCE EVALUATION FOR FY2026 IN ITS MEETING HELD ON APRIL 15, 2026. THE SAME WAS ALSO NOTED BY THE BOARD NOMINATION AND REMUNERATION COMMITTEE AND BY INDEPENDENT DIRECTORS AT THEIR RESPECTIVE MEETINGS. THE BOARD EVALUATION DISCUSSION WAS FOCUSED ON HOW TO MAKE THE BOARD MORE EFFECTIVE AS A COLLECTIVE BODY IN THE CONTEXT OF THE BUSINESS AND THE EXTERNAL ENVIRONMENT IN WHICH THE COMPANY FUNCTIONS. THE BOARD WAS IN REGULAR MEETINGS APPRISED OF RELEVANT BUSINESS ISSUES AND RELATED OPPORTUNITIES AND RISKS. THE EVALUATION EXERCISE WAS DESIGNED TO GO INTO VARIOUS ASPECTS OF ITS FUNCTIONING AND THAT OF ITS COMMITTEES SUCH AS STRUCTURE, COMPOSITION, CONDUCT OF MEETINGS, AND INTERACTION WITH MANAGEMENT AND WHAT NEEDS TO BE DONE TO FURTHER AUGMENT THE EFFECTIVENESS OF THE BOARD’S FUNCTIONING. THE EXERCISE HAS RESULTED IN IDENTIFICATION OF THE KEY FOCUS AREAS AS WELL AS ACTION POINTS FOR THE COMPANY TO WORK UPON IN THE COMING YEAR SUCH AS TO STRENGTHEN IT INFRASTRUCTURE, USE OF DATA ANALYTICS, AND ARTIFICIAL INTELLIGENCE, TO ORGANIZE SESSIONS ON CYBERSECURITY ISSUES AND CHALLENGES, STRENGTHENING TOP TALENT PIPELINE, STRATEGIC FOCUS ON PROFITABLE AND RISK-CALIBRATED GROWTH BY ENHANCING CUSTOMER ENGAGEMENT. THE BOARD’S OVERALL ASSESSMENT INDICATED THAT IT WAS OPERATING COHESIVELY, INCLUDING ITS VARIOUS COMMITTEES. THESE COMMITTEES WERE PERFORMING EFFECTIVELY, REGULARLY REPORTING TO THE BOARD ON THEIR ACTIVITIES AND PROGRESS DURING THE REPORTING PERIOD. THE BOARD ALSO NOTED THAT THE ACTIONS IDENTIFIED IN PREVIOUS QUESTIONNAIRE BASED EVALUATIONS HAD BEEN IMPLEMENTED.HE COMPANY HAS TAKEN VARIOUS INITIATIVES FROM TIME TO TIME BASIS RECOMMENDATIONS OF THE DIRECTORS, IN A TIMELY MANNER. DURING THE YEAR, THE COMPANY HAS CONTINUED TO MAINTAIN ITS MARKET LEADERSHIP AND HAS ALSO IMPLEMENTED VARIOUS STRATEGIC INITIATIVES TO ENHANCE ITS DIGITAL INFRASTRUCTURE AND CYBERSECURITY MEASURES. THESE INITIATIVES INCLUDE REVIEW OF IT AND CYBER RIS |