Statement of deviation(s) or variation(s) under Reg. 32

July 22, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Fort, Plot No. C/1, G Block, Bandra Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 BSE Scrip Code: 540767 NSE Scrip Symbol: NAM-INDIA Dear Sir(s), Sub.: Disclosure under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Please find attached the statement of deviation/variation in the utilisation of the proceeds as mentioned in the objects stated in the Prospectus dated October 30, 2017, in respect of the Initial Public Offering (IPO) of the Company in accordance with the Regulation 32(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Please take the same on record. Thanking you, Yours faithfully, For Nippon Life India Asset Management Limited Valde Varghese Company Secretary & Compliance Officer Encl: a/a Data Classification: Internal Use Only Statement of Deviation /Variation in utilization of funds raised, for the Quarter ended 30th June2026: Nippon Life India Asset Name of listed entity Management Limited Mode of Fund Raising Public Issue Date of Raising Funds 6thNovember 2017 Issue Size: Rs. 616.90 Crores Amount Raised Net Proceeds: Rs. 588.85 Crores Report filed for Quarter ended 30thJune2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable HDFC Bank Limited Is there a Deviation / Variation in use of funds raised Nil If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved Not Applicable by the shareholders If Yes, Date of shareholder Approval Not Applicable Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after review Comments of the auditors, if any None Objects for which funds have been raised and where There are no deviations there has been a deviation, in the following table Data Classification: Internal Use Only (Rs. In Crs) Amount of Deviation/Va Modifi Modified riation for ed Original Funds Remarks If Original Object allocation, the quarter Object Allocation Utilized Any if any according to , if any applicable objects Setting up new branches and relocating certain NA 38.31 NA 14.85 Nil None existing branches Upgrading the IT system NA 40.65 NA 40.65 Nil None Advertising, marketing and NA 72.09 NA 72.09 Nil None brand building activities Lending to Subsidiary (Nippon Life India AIFMgt. Ltd.) for investment of NA 125.00 NA 125.00 Nil None continuing interest in the new AIF schemes managed by NipponAIF Investing towards our continuing interest in new NA 100.00 NA 100.00 Nil None mutual fund schemes managed by them Funding inorganic growth NA 165.00 NA --- Nil None and strategic initiatives General Corporate purpose NA 47.80 NA 47.80 Nil None 588.85 400.39 For Nippon Life India Asset Management Limited Parag Joglekar Chief Financial Officer