Announcement for August 12, 2024 at 09:27 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

MSCI will maintain HDFC BANK in MSCI Indexes with an increase in the Foreign Inclusion Factor (FIF) from 0.37 to 0.56 as of the close of August 30, 2024 (effective September 2, 2024) coinciding with the August 2024 Index Review.

HDFC BANK is subject to a Foreign Ownership Limit (FOL) of 74% and an adjustment factor of 0.5. Based on the latest available shareholding disclosure, the foreign room is above 25%.

As mentioned in the MSCI Global Investable Market Indexes (GIMI) methodology, securities with foreign room greater than 25% are maintained in the MSCI GIMI Indexes with the adjustment factor of 1.

However, in view of the significant weight of HDFC BANK in the MSCI India Index, MSCI will apply an adjustment factor of 0.75 along with the August 2024 Index Review.

The remaining increase of the adjustment factor from 0.75 to 1 would be implemented as part of the November Index Review in the event the foreign room continues to be at least 20% at that time.

MSCI will continue to monitor the foreign room of HDFC BANK and issue further communication in case there are material changes in its foreign room.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.