IDFC First Bank Ltd

We wish to inform that the Board of the Bank at its meeting held today basis the recommendation of the Nomination & Remuneration Committee approved the grant of 67682000 stock options under IDFC FIRST Bank Limited Employee Stock Option Scheme to employees inter alia as part of Annual Reward Strategy for the FY 2022-23 in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations 2021 [SEBI (SBEB & SE) Regulations]. The Exercise Price of the aforesaid stock options have been determined in accordance with the SEBI (SBEB & SE) Regulations and the said stock options will vest equally over a period of five years (viz. 20% each year) with an exercise period of 3 years from date of respective vesting.Further during quarter ended March 31 2023 total 2239678 stock options granted under IDFC FIRST Bank ESOS stands lapsed/ cancelled as applicable and would be available for grant/ re-issue under the Scheme.