1. IDFC FIRST Bank Limited 2. IDFC Financial Holding Company Limited 3. IDFC Limited

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1 Summary of the Transaction [In terms of Regulations 13(1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011] A. Name of the parties to the transaction 1. The names of the parties to the combination are: a. IDFC FIRST Bank Limited (IDFC FIRST); b. IDFC Financial Holding Company Limited (IDFC Holding); and c. IDFC Limited (IDFCL). B. Nature and purpose of the transaction 2. The proposed transaction involves the following steps: a. Step 1: Merger of IDFC Holding into IDFCL, with IDFCL being the surviving entity; b. Step 2: Merger of IDFCL with IDFC FIRST Bank, with IDFC FIRST Bank being the surviving entity; c. Step 3: Cancellation of the existing shares held by IDFC Holding in IDFC FIRST Bank and issue of new shares of IDFC FIRST Bank to IDFCL’s shareholders, as consideration for the merger of IDFCL into IDFC FIRST Bank; and d. Step 4: Reduction of the securities premium account of IDFC FIRST Bank. 2 Step 1 to Step 4 are collectively referred to as the Proposed Transaction. IDFC FIRST, IDFC Holding and IDFCL are collectively referred to as Parties. C. Products, services and business(es) of the parties to the transaction IDFC FIRST 3. IDFC FIRST Bank is engaged in the business of providing banking services i.e., taking deposits; providing loans, credit cards; distributing mutual fund and insurance products and providing other financial solutions like corporate banking solutions, banking solutions for MSMEs, trade finance, treasury & forex solutions and wealth management solutions. IDFC Holding 4. IDFC Holding is a non-operative financial holding company registered with the Reserve Bank of India (“RBI”) and is not permitted directly to undertake any business activities in India. IDFC Holding is a wholly-owned subsidiary of IDFCL. IDFCL 5. IDFCL is registered with the RBI as a non-banking financial company. IDFCL is not directly engaged in any business operations and is the ultimate holding company of IDFC FIRST Bank. D. Respective markets in which the parties to the transaction operate 6. There are no (i) horizontal overlaps, and / or (ii) vertical / complementary linkages between the business activities of the Parties in India. Accordingly, absent any horizontal, vertical or complementary linkages between the 3 business activities of Parties in India, the relevant market need not be defined and may be left open. E. Green Channel Notification 7. Given the absence of any horizontal overlaps or vertical or complementary linkages between the Parties to the Proposed Transaction, the Proposed Transaction is being notified under the green channel route in terms of Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of business relating to Combinations) Regulations, 2011 (as amended). *************