Fino Payments Bank Limited (Bank) announced that a penalty of INR 1.6 million has been imposed on (Bank) by Assistant Commissioner CGST & Central Excise Division - II, Bhopal - Madhya Pradesh. Period Involved fiscal year 2017 to 2018 to fiscal year 2020-2021. Nature and details of the action(s) taken, initiated or order(s) passed: Demand of GST on short reversal of Input Tax Credit ­ Order passed under section 73 of the MPGST /CGST Act 2017.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: April 24, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: Alleged short reversal of input tax credit as per Rule 42 of CGST Rules, 2017. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: INR 3.1 million (includes tax, interest and penalty).