IDFC LIMITED - Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Utilization Of Funds

Dear Sirs, In continuation to our letter dated January 31, 2023 about Completion of divestment of IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited ('IDFC MF') for INR 4,500 crores to the consortium comprising Bandhan Financial Holdings Limited, Lathe Investment Pte. Ltd. (affiliate of GIC), Tangerine Investments Limited and Infinity Partners (affiliates of ChrysCapital), we wish to update that with this we have completed the corporate restructuring and simplification and now we are left with investment in IDFC Financial Holding Limited (IDFC FHCL) and in IDFC First Bank Limited. A. Utilisation of funds received on sale of IDFC MF. B. Way Forward