The Board of Directors of the Aavas Financiers Limited at its meeting held February 2, 2023, has approved the appointment of Mr. Sachinderpalsingh Jitendrasingh Bhinder (DIN: 08697657) as the Chief Executive Officer of the Company with effect from February 2, 2023. Mr. Sushil Kumar Agarwal (DIN: 03154532) will continue in his position as the Managing Director of the Company. Date of Appointment: February 2, 2023.

Mr. Sachinderpalsingh Jitendrasingh Bhinder appointed as Chief Executive Officer for a period of 5 years. Mr. Sachinder Bhinder has extensive experience in banking, financial services and insurance, with over 25 years of relevant working experience. Mr. Bhinder has had significant leadership roles at a variety of leading financial institutions, with full P&L management, business incubation, business development, compliance and governance responsibilities.

Mr. Bhinder most recently served as the CEO of Aavas' MSME business. Previously, he worked for 16 years with Kotak Mahindra Bank Limited, serving as Executive Vice President, SME & Retail Assets and Home Finance & Cross Sell. He has in-depth knowledge of the Mortgage Finance business, and successfully led the business across various market cycles.

He has also played a key role in setting up the cross-sell business for Kotak's retail asset products, including Working Capital (Retail SME & MSME), Business Loans, Mortgage Finance, Rural Housing, LAS and Credit Cards. Mr. Bhinder's professional experience of 25+ years is as follows: CEO of Aavas MSME Business (since January 2020); Kotak Mahindra Bank Limited, Executive Vice President, SME & Retail Assets and Home; Finance & Cross Sell (2004 - 2019); ICICI Lombard General Insurance Co. Ltd, Zonal Head (2002 - 2004); Standard Chartered Finance Limited, Area Head (2001 - 2002); HDFC Limited, Senior Officer (1998 - 2001); ION Exchange India Limited (1995 - 1996).