ESOP/ESOS/ESPS

July 13, 2026 SBIL/CS/NSE-BSE/2627/60 Vice President General Manager Listing Department, Listing Department, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot No. C/1, G Block, BKC, Dalal Street, Bandra (East), Mumbai 400051 Mumbai 400001 NSE Symbol: SBILIFE BSE Scrip Code: 540719 Dear Sir/ Madam, Subject: Grant of Stock Options under Employee Stock Option Scheme – 2018 (“ESOS – 2018 Scheme”) In terms of the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant provisions of Master Circular No. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, issued by Securities and Exchange Board of India, we wish to inform you that the meeting of the Board Nomination and Remuneration Committee of the Company commenced at 11:00 A.M. (IST) and concluded at 12:50 P.M. (IST) held today i.e. on Monday, July 13, 2026 which inter-alia approved the grant of the employee stock options ("Options") under the provisions of ESOS – 2018 scheme, details of the same are mentioned below: 8,94,910 Options granted to eligible employees of the Company. a) Brief details of options granted Each Option upon exercise would be entitled for allotment of one equity share of Rs.10/- (Rupees Ten only) each of the Company. Whether the scheme is in terms of the SEBI (Share Based b) Yes Employees Benefits and Sweat Equity) Regulations, 2021 Total number of shares 8,94,910 equity shares of Rs.10 each of the covered by these options Company. Exercise price will be lower of Fair Market Value (FMV) as on the grant date or Average Fair d) Pricing formula Market Value of 15 trading days immediately preceding the grant date. Vesting shall be in the proportion of 30%-30%- e) Options vested 40% and will commence from one year from the grant of options. SBI Life Insurance Company Ltd. Registered and Corporate Office: Natraj, M.V. Road and Western Express Highway Junction Andheri (East), Mumbai 400 069. Tel.: (022) 6191 0000/ 3968 0000 IRDAI Regn. No. 111. CIN: L99999MH2000PLC129113 www.sbilife.co.in Time within which option may The said Options shall be exercised within 7 be exercised (Seven) years from the date of grant. g) Options exercised N.A. Money realized by exercise of h) N.A. Options The total number of shares N.A. i) arising as a result of exercise of Option j) Options lapsed N.A. k) Variation of terms of Options N.A. l) Brief details of significant terms N.A. Subsequent changes or N.A. m) cancellation or exercise of such Options Diluted earnings per share N.A. n) pursuant to issue of equity shares on exercise of Options This is for your information and record. Thanking you, For SBI Life Insurance Company Limited Girish Manik Company Secretary ACS No. 26391 SBI Life Insurance Company Ltd. Registered and Corporate Office: Natraj, M.V. Road and Western Express Highway Junction Andheri (East), Mumbai 400 069. Tel.: (022) 6191 0000/ 3968 0000 IRDAI Regn. No. 111. CIN: L99999MH2000PLC129113 www.sbilife.co.in