Please find enclosed press release and Investor presentation being issued in connection with performance of the Company for the quarter and half year ended September 30, 2026.

October 27, 2026 SBIL/CS/NSE-BSE/2627/134 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: Press Release & Investor Presentation – Performance for the Quarter and half year ended September 30, 2026 Pursuant to the provisions of Regulation 30(6) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the press release and investor presentation being issued in connection with performance of the Company for the quarter and half year ended September 30, 2026, is enclosed. The above information is also made available on the Company’s website at www.sbilife.co.in We request you to kindly take the above information on record. Thanking You, Yours faithfully, Girish Manik Company Secretary ACS No. 26391 Encl: A/a Public 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 News Release October 27, 2026 BSE Code: 540719 NSE Code: SBILIFE Performance for the quarter and half year ended September 30, 2026 • Private Market leadership in Individual New Business Premium & Individual Rated Premium with market share of 25.2% & 22.6% respectively • Annualized Premium Equivalent (APE) stands at ₹ 117.5 billion with growth of 18% • Total New Business Sum Assured stands at ₹ 11,927.9 billion with 68% growth • Improvement in 13M, 25M & 49M persistency by 44 bps, 110 bps & 40 bps respectively6 • Value of New Business (VoNB) stands at ₹ 32.7 billion with growth of 19% • VoNB Margin stands at 27.9% • Indian Embedded value (IEV) stands at ₹ 873.5 billion with growth of 15% • Profit After Tax (PAT) stands at ₹12.7 billion with 17% growth • Robust Solvency ratio of 1.97 • Assets under Management stands at ₹ 5.3 trillion with 9% growth • Operating Return on Embedded Value stands at 18.8% Key measures of performance (₹ in billion) Particulars H1-FY 2027 H1-FY 2026 YoY Revenue Parameters New Business Premium (NBP) 202.6 183.5 10% Renewal Premium (RP) 281.5 245.5 15% Gross Written Premium (GWP) 484.0 429.0 13% Individual New Business Premium (Ind. NBP) 137.3 121.7 13% Individual Rated Premium (IRP) 97.2 86.8 12% Annualized Premium Equivalent (APE) 117.5 99.2 18% Private Market Share based on IRP1 22.6% 22.2% - APE Product mix (%) (Par/Non Par/ULIP) 4/45/51 5/38/57 - APE Channel mix (%) (Banca/Agency/others) 53/28/19 57/29/14 - Financial Parameters Profit after Tax (PAT) 12.7 10.9 17% Net Worth 205.3 182.9 12% Assets under Management (AuM) 5,271.2 4,814.6 9% IEV, VoNB and VoNB Margin2 Indian Embedded Value (IEV) 873.5 760.0 15% IEV per Share (in ₹) (IEV / Number of Shares) 870.5 758.0 - Value of New Business (VoNB) 32.7 27.5 19% Particulars H1-FY 2027 H1-FY 2026 YoY VoNB per Share (in ₹) (VoNB / Number of Shares) 32.6 27.5 - New Business Margin (VoNB Margin) 27.9% 27.8% - Key Financial Ratios Operating expense ratio3 6.9% 6.2% - Commission ratio4 4.8% 4.7% - Total cost ratio5 11.7% 10.9% - Persistency Ratios - Premium Basis (Regular Premium/ Limited Premium payment under individual category) 6&7 13th month persistency 87.6% 87.1% - 25th month persistency 78.4% 77.3% - 37th month persistency 72.3% 72.2% - 49th month persistency 69.3% 68.9% - 61st month persistency 58.7% 60.6% - Solvency Ratio 1.97 1.94 - Return on Equity (RoE) 12.9% 12.3% - 1. Source: Life insurance council 2. IEV, VoNB and VoNB Margin for H1 FY 27 and H1 FY26 have been reviewed by Independent Actuary. 3. Operating expense ratio = Operating expenses / Gross Written Premium (GWP) 4. Commission ratio = Commission (including rewards) / Gross Written Premium (GWP) 5. Total cost ratio = (Operating expenses + Commission + Provision for doubtful debt and bad debt written off) /GWP 6. The persistency ratios are calculated as per IRDAI circular IRDAI/NL/MSTCIR/RT/93/6/2024 dated June 14, 2024. Persistency Ratios for the period ended September 30, 2026 and September 30, 2025 are 'Upto the Quarter' Persistency calculated using policies issued in September to August of the relevant years. 7. Figures of the previous period have been regrouped/ reclassified/ restated wherever necessary, in order to make them comparable. N.B: Refer the section on definitions, abbreviations and explanatory notes. The Board of Directors of SBI Life Insurance Company Limited approved and adopted the reviewed financial results for the quarter and half year ended September 30, 2026, following its meeting on Tuesday, October 27, 2026 in Mumbai. The disclosure of financial results submitted to exchanges is annexed to this release. Managing Director & CEO’s Statement: Amit Jhingran, MD & CEO of SBI Life stated: During H1 FY27, SBI Life remained focused on delivering sustainable business growth, strengthening its distribution network and expanding insurance penetration. Our focus on customer-centric solutions, protection led offerings and a diversified product portfolio continues to support growth while maintaining profitability and long-term value creation. On the regulatory front, we remain committed to adapting to the evolving regulatory framework, with policyholder interest, transparency and sustainable industry development at the centre of our approach. On the macroeconomic front, India’s resilient economy, underpinned by strong fundamentals, rising household aspirations and evolving customer needs, provides a solid foundation for the life insurance sector’s sustained long-term growth. Business growth and market share • The Company has maintained its leadership position in Individual Rated Premium of ₹ 97.2 billion with 22.6% private market share in H1 FY 27. • Growth in Individual New Business Premium by 13% to ₹ 137.3 billion in H1 FY 27. • Protection New Business Premium stands at ₹ 32.4 billion in H1 FY 27. • Gross Written Premium (GWP) has grew by 13% to ₹ 484.0 billion in H1 FY 27 mainly due to 10% growth in New Business Premium and 15% growth in Renewal Premium (RP) in H1 FY 27. Distribution network • The Company has strong distribution network of 394,574 trained insurance professionals consisting of Agents, CIFs and SPs along with widespread operations with 1,244 offices across country. • The Company has diversified distribution network comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, micro agents, common service centers, insurance marketing firms, web aggregators and direct business. • APE channel mix for H1 FY 27 is bancassurance channel 53%, agency channel 28% & other channels 19%. • Individual NBP of Agency channel has increased by 11% to ₹ 37.7 billion in H1 FY 27 and Individual NBP of Other channel has increased by 28% to ₹ 27.1 billion in H1 FY 27 as compared to same period last year. Cost Efficiency • Total Cost ratio for H1 FY 27 is 11.7% vis-à-vis 10.9% for H1 FY 26 ▪ Commission ratio for H1 FY 27 is 4.8% vis-à-vis H1 FY 26 is 4.7%. ▪ Operating Expense ratio for H1 FY 27 is 6.9% vis-à-vis 6.2% in H1 FY 26. Profitability • Profit after Tax (PAT) grew by 17% to ₹12.7 billion for H1 FY 27. • VoNB increased by 19% to ₹ 32.7 billion for H1 FY 27. • VoNB margin stands at 27.9% in H1 FY 27. Persistency • Strong growth in 13th month and 49th month persistency (based on premium considering Regular Premium/ Limited Premium payment under individual category) in H1 FY 27 by 44 bps and 40 bps respectively due to our focus on improving the quality of business and customer retention. Assets under Management • AuM grew by 9% from ₹ 4,814.6 billion as on September 30, 2025 to ₹ 5,271.2 billion as on September 30, 2026 with debt-equity mix of 60:40. Approx. 94% of t [Showing first 8,000 characters — download PDF for full document]