General Updates

Date: June 30, 2026 To, To, BSE Limited National Stock Exchange of India Limited Listing Dept. / Dept. of Corporate Services, Listing Dept., Exchange Plaza, 5th Floor, Plot No. C/1, Phiroze Jeejeebhoy Towers, Dalal Street, G.Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Scrip Code No.: 500247 Symbol: KOTAKBANK Dear Sir/ Madam, Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to acquisition of Deutsche Bank AG’s Retail Banking, Private Banking and Wealth Management Business in India Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that Kotak Mahindra Bank Limited (“Kotak Bank”) has executed a business transfer agreement with Deutsche Bank Aktiengesellschaft (acting through its branch in India) (“DBAG”) (“BTA”) on June 30, 2026 for the acquisition of DBAG’s retail banking, private banking and wealth management business in India (“Business Undertaking”) as a going concern on a slump sale basis, subject to requisite approvals and the fulfilment of conditions specified in the BTA. More information on the above, is enclosed herewith as Annexure 1. In addition, Annexure 2 contains the press release and the investor presentation giving further details about the proposed transaction. Kotak Mahindra Asset Management Company Limited (“Kotak AMC”) and Kotak Alternate Asset Managers Limited (“KAAML”) (both being wholly owned subsidiaries of Kotak Bank) have entered into non-binding term sheets with Deutsche Investments India Private Limited (“DIIPL”) (which is a subsidiary of DBAG) for referral of clients for Portfolio Management Services and Investment Advisory, respectively. This remains subject to the definitive agreements to be entered into in this regard by DIIPL with Kotak AMC and KAAML, respectively. Kotak Bank will make relevant disclosure(s) upon signing of such definitive agreements. This intimation is also being made available on the Bank’s website at https://www.kotak.bank.in/en/investor- relations/governance/sebi-listing-disclosures.html Kindly take the same on your records. Thanking you, Yours faithfully, For Kotak Mahindra Bank Limited Avan Doomasia Company Secretary Encl.: as above Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, T +91 22 61660001 Bandra (E), Mumbai 400051, www.kotak.bank.in Maharashtra, India. Annexure 1 S.No. Particulars Description 1. Name of the target entity, details in No separate entity is being acquired. brief such as size, turnover etc. Kotak Bank has executed a business transfer agreement with Deutsche Bank Aktiengesellschaft (acting through its branch in India) (“DBAG”) (“BTA”), on June 30, 2026, for the acquisition of DBAG’s retail banking, private banking and wealth management business in India (“Business Undertaking”), as a going concern on a slump sale basis, subject to requisite approvals and the fulfilment of conditions specified in the BTA. As of March 31, 2026, the Business Undertaking’s advances outstanding were approximately Rs. 29,000 crore and the total deposits were approximately Rs. 16,000 crore. 2. Whether the acquisition would fall No, the proposed transaction is not a Related Party Transaction. within related party transaction(s) and whether the promoter/ The Promoter/ Promoter Group/ Group Companies do not have promoter group/ group companies any interest in Business Undertaking being acquired. have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” 3. Industry to which the entity being The proposed transaction relates to the acquisition of the acquired belongs; Business Undertaking and does not constitute acquisition of an entity. DBAG is engaged in the Banking and Financial Services Industry and operates as a scheduled commercial bank regulated by the RBI. 4. Objects and impact of acquisition The acquisition is aligned with Kotak’s strategy to build a scaled (including but not limited to, and customer centric affluent and SME banking franchise, disclosure of reasons for bringing together a well-established customer base and acquisition of target entity, if its experienced teams. business is outside the main line of business of the listed entity) Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, T +91 22 61660001 Bandra (E), Mumbai 400051, www.kotak.bank.in Maharashtra, India. 5. Brief details of any governmental The completion of the proposed transaction is subject to or regulatory approvals required (i) approval from the Competition Commission of India (CCI); for the acquisition (ii) approval from National Securities Depository Limited (NSDL), and Central Depository Services (India) Limited (CDSL) for transfer of the depository business of the DBAG in India; and (iii) other regulatory approvals required, if any. 6. Indicative time period for Subject to the satisfactory completion or waiver (if applicable) completion of the acquisition of the customary and contractual conditions in accordance with the provisions of the BTA, the proposed transaction is expected to be completed by September 2027. 7. Consideration - whether cash The entire consideration will be discharged by Kotak Bank only consideration or share swap or any in cash. other form and details of the same 8. Cost of acquisition and/or the No shares are being acquired pursuant to the proposed price at which the shares are transaction. acquired The total Purchase Price1 for the acquisition of the Business Undertaking is approximately Rs. 281.7 crore, subject to adjustments in accordance with the terms and conditions set out in the BTA.2 9. Percentage of shareholding / Not applicable as no shares are being acquired pursuant to the control acquired and / or number proposed transaction. of shares acquired 10. Brief background about the entity The proposed transaction involves the acquisition by Kotak acquired in terms of products/line Bank of the Business Undertaking from DBAG. of business acquired, date of incorporation, history of last 3 DBAG was incorporated under the laws of Germany and has years turnover, country in which been, inter alia, licenced as a scheduled commercial bank by the the acquired entity has presence RBI for carrying on banking business in India through its and any other significant branches. DB was founded in 1870 in Berlin as Deutsch- information (in brief) Asiatische Bank. Later, it was integrated into the newly founded European Asian Bank which opened its first branch in India in 1980 in Mumbai. 1 Inclusive of non-compete consideration 2 Separately, Kotak Bank shall pay to DBAG, the amount of asset less liabilities (being the net funding position) of the Business Undertaking as at the Closing Time, subject to adjustments in accordance with the terms and conditions set out in the BTA. Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, T +91 22 61660001 Bandra (E), Mumbai 400051, www.kotak.bank.in Maharashtra, India. The amount of the gross revenue of Deutsche Bank AG, India Branches3 for the last three financial years is as below: (i) FY 23: Rs. 8,994 crore (ii) FY 24: Rs. 11,234 crore (iii) FY 25: Rs. 12,415 crore As of March 31, 2026, the Business Undertaking’s advances outstanding were approximately Rs. 29,000 crore and the total deposits were approximately Rs. 16,000 crore. 3 This figure represents the amount of gross revenue for the Deutsche Bank AG, India Branches, considered as a whole (comprising the Business Undertaking and other business lines), based on its audited financials for FY23, FY24 and FY25. Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 Registered Office: 27 BKC, [Showing first 8,000 characters — download PDF for full document]