Appointment

Ref. No.: LIC/SE/2026-27/104 Date: October 07, 2026 The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Tower, Exchange Plaza, Floor, Plot C/1, Dalal Street, G Block, Bandra Kurla Complex, Mumbai-400001. Mumbai-400051. Scrip Code: 543526 Symbol: LICI Dear Sir/Madam, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Pursuant to Regulation 30 of the Listing Regulations, this is to inform that based on the recommendations of the Nomination & Remuneration Committee and subject to the approval of the Members, the Board of Directors of the Life Insurance Corporation of India (“the Corporation”), in its meeting held today i.e. October 07, 2026, inter-alia considered and approved the appointment of the following as Independent Directors for a term of 4 years commencing from October 07, 2026, in terms of Section 4(2)(g) of Life Insurance Corporation Act, 1956, read with rules made thereunder, as amended: 1. Shri Shailesh Kumar Singh (DIN: 02061623) 2. Shri David Paul Rasquinha (DIN: 01172654) 3. Shri Shyam Srinivasan (DIN: 02274773) 4. Shri Ganesh Kumar Sundara Iyer (DIN: 07635860) 5. Shri Gaurav Kumar (DIN: 07767248) The details as required under Regulation 30 of the Listing Regulations read with circulars issued thereunder, from time to time, are enclosed as Annexure – I. The Board meeting commenced at 03:00 p.m. (IST) on October 07, 2026 and concluded at 03:55 p.m. (IST). Please take the above information on record and arrange for dissemination. A Copy of this intimation is also being made available on the website of the Corporation at www.licindia.in. Yours faithfully, For Life Insurance Corporation of India (Anshul Kumar Singh) Company Secretary & Compliance Officer Encl.: a/a Annexure - I Disclosure required pursuant to Regulation 30 read with Para A of Schedule III to the Listing Regulations and the circulars issued thereunder, from time to time, with regard to change in Directors is given hereunder: (1) Appointment of Shri Shailesh Kumar Singh (DIN: 02061623) as Independent Director S. No. Particulars Information of such event 1 Reason for change Appointment of Shri Shailesh Kumar Singh as Independent Director. viz. Appointment, Resignation, Removal, Death or Otherwise 2 Date of With effect from October 07, 2026 for a term of four years, subject to the Appointment / approval of Members, as per the regulatory requirements. Cessation & Term of appointment 3 Brief Profile (in Shri Shailesh Kumar Singh is an Indian Administrative Service (retired), 1991 case of Batch, Jharkhand Cadre and his last assignment was as Secretary, Rural appointment) Development, Government of India. As Secretary, Rural Development, he steered the policy formulation related to and the implementation of the flagship programs of the government, viz., Pradhan Mantri Gram Sadak Yojana (PMGSY), Pradhan Mantri Awas Yojana Gramin (PMAYG) and Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). He also steered the formulation and processing related to the enactment of the Viksit Bharat G RAM G Act, 2025 in place of MGNREGA Previously, he was Development Commissioner, MSME in the Government of India. He worked toward formulation and implementation of policies for promotion of MSMEs and improvement of the MSME ecosystem in terms of infrastructure (e.g. Technology Centres/Tool Rooms), handholding and facilitation. As Joint Secretary in GOI, he worked in two Ministries, Urban Development and Coal and contributed to urban transport and efficient coal distribution throughout the country and was also Government Nominee Director on the Boards of Central Coalfields Limited, Mahanadi Coalfields Limited, Chennai Metro and Kolkata Metro and has also officiated as the CMD of Northern Coalfields Ltd for about six months. Shri Shailesh Kumar Singh has had 35 years of leadership experience in the Indian Administrative Service and has formulated and implemented policies and programs of the Government of India, and the State Governments of Bihar and Jharkhand. He has wide experience in evidence-based policy making, leadership and conflict resolution and negotiation and worked in the areas related to infrastructure, procurement, energy, industry, MSME, information technology, urban development, poverty alleviation, etc. While working in the districts as well as the central and state governments, he has contributed significantly to improving outcomes in social and developmental sectors like energy, education, health, infrastructure, urban development, information technology, wage employment, industries, rural development, etc. 4 Disclosure of Not related to any other Director(s) of the Corporation. relationships between directors (in case of appointment of a director) 5 Whether debarred Not debarred from holding the position of Director by virtue of any SEBI order from holding the or any other authority. position of Director pursuant to SEBI order or any other authority (2) Appointment of Shri David Paul Rasquinha (DIN: 01172654) as Independent Director S. No. Particulars Information of such event 1 Reason for change Appointment of Shri David Paul Rasquinha as Independent Director. viz. Appointment, Resignation, Removal, Death or Otherwise 2 Date of With effect from October 07, 2026 for a term of four years, subject to the Appointment / approval of Members, as per the regulatory requirements. Cessation & Term of appointment 3 Brief Profile (in Shri David Rasquinha retired as Managing Director and Chief Executive Officer case of of the Export-Import Bank of India (Exim Bank), after a distinguished career appointment) spanning over three decades in export credit, international finance and cross- border project financing. Post retirement, he served for four years on the Reserve Bank of India’s Advisory Board on Banking and Financial Frauds and as a Member of the Advisory Board of JCB India Ltd. He currently serves as an Independent Director on the Boards of Ajanta Pharma, HSBC Trustees, Ion Exchange and its associates/subsidiaries, and Unity Small Finance Bank. He is also serving, on an interim basis, as an Independent Director of NeSL Asset Data Ltd. Additionally, he acts as an External Expert in mediating commercial disputes involving ONGC and its suppliers. Joining Exim Bank in 1984-85, Shri Rasquinha held a range of senior positions covering export credit, corporate finance, project finance and international fundraising. From 1999 to 2004, he was the Resident Representative at Exim Bank’s Washington, DC office, where he worked closely with institutions including the World Bank, MIGA and IFC. He subsequently led cross-border project finance across Asia, Africa and Latin America, developing extensive expertise in project structuring, documentation, procurement and dispute resolution. Between 2012 and 2021, he led Exim Bank’s international fundraising programme, overseeing nearly USD 10 billion of foreign currency debt issuance, including substantial issuance in the US markets. He is widely recognised among international fixed-income investors for his expertise on the Indian economy, export credit and Indian financial markets. On being appointed as Deputy Managing Director of Exim Bank in July 2014 and Managing Director in August 2017, Shri Rasquinha led the Bank through a significant balance-sheet clean-up while maintaining its profitability and dividend track record. He also spearheaded the Bank’s flagship bilateral economic diplomacy programmes and conceived and implemented the Ubharte Sitaare initiative to support smaller exporters. Shri Rasquinha holds a first-class degree in Economics from the University of Bombay and a postgraduate qualification in Business Management from XLRI, Jamshedpur, where he received the Gold Medal in Economics. He is also a recipient of XLRI’s Distinguished Alumnus Award. With [Showing first 8,000 characters — download PDF for full document]