MUTHOOT FINANCE LIMITED’S Shelf Prospectus Dated February 05, 2019 and Tranche II Prospectus Dated May 03, 2019 ( “Prospectus” )

APPLICANT’S UNDERTAKING ,:HKHUHE\DJUHHDQGFRQ¿UPWKDW 1. I/We have read, understood and agreed to the contents and terms and conditions of MUTHOOT FINANCE LIMITED’s Shelf Prospectus dated February 05, 2019 and Tranche II Prospectus dated May 03, 2019 ( “Prospectus” ). 2 I/We hereby apply for allotment of the NCDs to me/us and the amount payable on application is remitted herewith. 3. I/We hereby agree to accept the NCDs applied for or such lesser number as may be allotted to me/us in accordance with the contents of the Prospectus subject to applicable statutory and/or regulatory requirements. 4. I/We irrevocably give my/our authority and consent to IDBI TRUSTEESHIP SERVICES LIMITED, (the “Debenture Trustee” ) to act as my/our trustees and for doing such acts as are necessary to carry out their duties in such capacity. 5. I am/We are Indian National(s) resident in India and I am/ we are not applying for the said NCDs as nominee(s) of any person resident outside India and/or Foreign National(s). 6. The application made by me/us do not exceed the investment limit on the maximum number of NCDs which may be held by me/us under applicable statutory and/or regulatory requirements. 7. In making my/our investment decision I/We have relied on my/our own examination of Muthoot Finance Limited the Issuer and the terms of the Issue, including the merits and risks involved and my/our decision to make this application is solely based on disclosures contained in the Prospectus. 8. I/We have obtained the necessary statutory and/or regulatory permissions/approvals for applying for, subscribing to, and seeking allotment of the NCDs applied for. 9. Undertaking: 1) I/We hereby undertake that I/We am/are an ASBA Applicant(s) as per applicable provisions of the SEBI Regulations; 2) In accordance with ASBA process provided in the SEBI Regulations and disclosed in the Prospectus, I/We authorize D WKH/HDG0DQDJHUV/HDG%URNHUVDQG7UDGLQJ0HPEHUV LQ6SHFL¿HGFLWLHVRQO\ RUWKH6&6%VDVWKHFDVHPD\EHWRGRDOODFWVDVDUHQHFHVVDU\WRPDNHWKH$SSOLFDWLRQLQWKH,VVXHLQFOXGLQJXSORDGLQJP\RXUDSSOLFDWLRQEORFNLQJ RUXQEORFNLQJRIIXQGVLQWKHEDQNDFFRXQWPDLQWDLQHGZLWKWKH6&6%DVVSHFL¿HGLQWKH$SSOLFDWLRQ)RUPWUDQVIHURIIXQGVWRWKH3XEOLF,VVXH$FFRXQWRQUHFHLSWRILQVWUXFWLRQIURPWKH/HDG0DQDJHUDQG5HJLVWUDUWRWKH,VVXHDIWHU ¿QDOL]DWLRQRI%DVLVRI$OORWPHQWDQG E WKH5HJLVWUDUWRWKH,VVXHWRLVVXHLQVWUXFWLRQWRWKH6&6%VWRXQEORFNWKHIXQGVLQWKHVSHFL¿HGEDQNDFFRXQWXSRQ¿QDOL]DWLRQRIWKH%DVLVRI$OORWPHQW ,QFDVHWKHDPRXQWDYDLODEOHLQWKH VSHFL¿HG%DQN$FFRXQWLVLQVXI¿FLHQWDVSHUWKH$SSOLFDWLRQWKH6&6%VKDOOUHMHFWWKH$SSOLFDWLRQ ,:HFRQ¿UPWKDW,:HVKDOOEHDOORFDWHGDQGDOORWWHG2SWLRQ,91&'VZKHUHLQ,:HKDYHQRWLQGLFDWHGWKHFKRLFHRIUHOHYDQW2SWLRQV Impersonation $WWHQWLRQRIWKH$SSOLFDQWVLVVSHFL¿FDOO\GUDZQWRWKHSURYLVLRQVRIVXEVHFWLRQ RIVHFWLRQRIWKH&RPSDQLHV$FWZKLFKLVUHSURGXFHGEHORZ ³$Q\SHUVRQZKR D PDNHVRUDEHWVPDNLQJRIDQDSSOLFDWLRQLQD¿FWLWLRXVQDPHWRDFRPSDQ\IRUDFTXLULQJRUVXEVFULELQJIRULWVVHFXULWLHVRU E PDNHVRUDEHWVPDNLQJRIPXOWLSOHDSSOLFDWLRQVWRDFRPSDQ\LQGLIIHUHQWQDPHVRULQGLIIHUHQW FRPELQDWLRQVRIKLVQDPHRUVXUQDPHIRUDFTXLULQJRUVXEVFULELQJIRULWVVHFXULWLHVRU F RWKHUZLVHLQGXFHVGLUHFWO\RULQGLUHFWO\DFRPSDQ\WRDOORWRUUHJLVWHUDQ\WUDQVIHURIVHFXULWLHVWRKLPRUWRDQ\RWKHUSHUVRQLQD¿FWLWLRXVQDPHVKDOO be liable for action under section 447.” ISSUE RELATED INFORMATION FOR FILLING THE APPLICATION FORM INVESTOR CATEGORIES: Category I (Institutional Investors) Sub-category code Category II (Non Institutional Investors) 3XEOLF ¿QDQFLDO LQVWLWXWLRQV VWDWXWRU\ FRUSRUDWLRQV FRPPHUFLDO EDQNV FRRSHUDWLYH EDQNV DQG 55%V 10 Companies; bodies corporate and societies registered under the applicable laws in India and authorised to 21 DQG PXOWLODWHUDO DQG ELODWHUDO GHYHORSPHQW ¿QDQFLDO LQVWLWXWLRQV ZKLFK DUH DXWKRULVHG WR LQYHVW LQ WKH invest in the NCDs; NCDs; Public/private charitable/religious trusts which are authorised to invest in the NCDs; 22 Provident funds, pension funds, superannuation funds and gratuity funds, which are authorised to invest 11 6FLHQWL¿F DQGRU LQGXVWULDO UHVHDUFK RUJDQLVDWLRQV ZKLFK DUH DXWKRULVHG WR LQYHVW LQ WKH 1&'V 23 in the NCDs; 3DUWQHUVKLS ¿UPV LQ WKH QDPH RI WKH SDUWQHUV 24 Alternative Investment Funds, subject to investment conditions applicable to them under the 12 Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership 25 Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012; Act, 2008 (No. 6 of 2009) Resident Venture Capital Funds registered with SEBI; 13 Association of Persons; and 26 Insurance Companies registered with IRDA; 14 Any other incorporated and/ or unincorporated body of persons. 27 State industrial development corporations; 15 Category III (“High Networth Individuals”)/(“HNIs”) ,QVXUDQFH IXQGV VHW XS DQG PDQDJHG E\ WKH DUP\ QDY\ RU DLU IRUFH RI WKH 8QLRQ RI ,QGLD 16 Resident Indian individuals applying for an amount aggregating to above INR 1,000,000 across all options of NCDs in the Tranche II Issue ,QVXUDQFH IXQGV VHW XS DQG PDQDJHG E\ WKH 'HSDUWPHQW RI 3RVWV WKH 8QLRQ RI ,QGLD 17 31 +LQGX 8QGLYLGHG )DPLOLHV WKURXJK WKH .DUWD DSSO\LQJ IRU DQ DPRXQW DJJUHJDWLQJ WR DERYH ,15 6\VWHPLFDOO\,PSRUWDQW1RQ%DQNLQJ)LQDQFLDO&RPSDQ\DQRQEDQNLQJ¿QDQFLDOFRPSDQ\UHJLVWHUHG 18 across all options of NCDs in the Tranche II Issue ZLWK WKH 5HVHUYH %DQN RI ,QGLD DQG KDYLQJ D QHWZRUWK RI PRUH WKDQ ¿YH KXQGUHG FURUH UXSHHV DV Category IV (“Retail Individual Investors”) /(“RIIs”) SHU WKH ODVW DXGLWHG ¿QDQFLDO VWDWHPHQWV Resident Indian individuals applying for an amount aggregating up to and including INR 1,000,000 across all National Investment Fund set up by resolution no. F. No. 2/3/2005 –DDII dated November 23,2005 19 options of NCDs in the Tranche II Issue of the Government of India published in the Gazette of India 41 +LQGX 8QGLYLGHG )DPLOLHV WKURXJK WKH .DUWD DSSO\LQJ IRU DQ DPRXQW DJJUHJDWLQJ XS WR DQG LQFOXGLQJ ,15 Mutual Funds registered with SEBI 20 1,000,000 across all options of NCDs in the Tranche II Issue 7KHVSHFL¿FWHUPVRIHDFKLQVWUXPHQWDUHVHWRXWEHORZ Issue Structure Terms and conditions in connection with I II III IV V VI VII VIII IX X Secured NCDs Options Frequency of Interest Payment Monthly * Monthly * Monthly * Annually ** Annually ** Annually ** NA NA NA NA Who can apply All categories of investors (Category I, II ,III and IV) Minimum Application ` 10,000 (10 NCDs) In multiples of ` 1,000.00 (1 NCD) Face Value of NCDs ( ` / NCD) ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 Issue Price ( ` / NCD) ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 ` 1,000.00 Tenor from Deemed Date of Allotment 24 months 38 months 60 months 24 months 38months 60 months 24 months 38 months 60 months 90 months Coupon Rate 9.25% 9.50% 9.75% 9.50% 9.75% 10.00% NA NA NA NA Effective Yield (Per annum) ***** 9.25% 9.50% 9.75% 9.50% 9.75% 10.00% 9.25% 9.50% 9.75% 9.67% Mode of Payment Through various options available Amount ( ` / NCD) on Maturity *** ` 1,000 ` 1,000 ` 1,000 ` 1,000 ` 1,000 ` 1,000 ` 1,193.56 ` 1,333.72 ` 1,592.29 ` 2,000.00 Maturity Date (From Deemed Date of 24 months 38 months 60 months 24 months 38 months 60 months 24 months 38 months 60 months 90 months Allotment) Nature of indebtedness Secured redeemable non-convertible Put and Call Option NA * :LWKUHVSHFWWR2SWLRQVZKHUHLQWHUHVWLVWREHSDLGRQDPRQWKO\EDVLVUHOHYDQWLQWHUHVWZLOOEHFDOFXODWHGIURPWKH¿UVWGD\WLOOWKHODVWGDWHRIHYHU\PRQWKGXULQJWKHWHQRURIVXFK1&'VDQGSDLGRQWKH¿UVWGD\RIHYHU\VXEVHTXHQWPRQWK )RUWKH¿UVWLQWHUHVWSD\PHQWIRU1&'VXQGHUWKHPRQWKO\RSWLRQVLQWHUHVWIURPWKH'HHPHG'DWHRI$OORWPHQWWLOOWKHODVWGD\RIWKHVXEVHTXHQWPRQWKZLOOEHFOXEEHGDQGSDLGRQWKH¿UVWGD\RIWKHPRQWKQH[WWRWKDWVXEVHTXHQWPRQWK ** With respect to Options where interest is to be paid on an annual basis, relevant interest will be paid on each anniversary of the Deemed Date of Allotment on the face value of the NCDs. The last interest payment under annual Options will be made at the time of redemption of the NCDs. *** Subject to applicable tax deducted at source, if any **** 3OHDVHUHIHUWR6FKHGXOH$IRUGHWDLOVSHUWDLQLQJWRWKHFDVKÀRZVRIWKH&RPSDQ\LQDFFRUGDQFHZLWKWKH6(%,FLUFXODUEHDULQJQXPEHU&,5,0'')GDWHG2FWREHUDQG&,5,0'')GDWHG1RYHPEHU ***** On Options I, II and III, monthly interest payment is not assumed to be reinvested for the purpose of calculation of Effective Yield (per annum). 2XU &RPSDQ\ ZRXOG DOORW WKH 2SWLRQ ,9 1&'V DV VSHFL¿HG LQ WKLV7UDQFKH ,, 3URVSHFWXV WR DOO YDOLG$SSOLFDWLRQV ZKHUHLQ WKH$SSOLFDQWV KDYH QRW LQGLFDWHG WKHLU FKRLFH RI WKH UHOHYDQW RSWLRQ RI 1&'V

Note: a. Basis of Allotment : For details, please refer to Instruction No. 38 on page no. 16 of the Abridged Prospectus. b. For Grounds for Technical Rejection. Please refer to page no. 14 of the Abridged Prospectus. c. The Company shall allocate and allot Option IV NCDs wherein the Applicants have not indicated their choice of the relevant NCD option. G,IWKH'HHPHG'DWHRI$OORWPHQWXQGHUJRHVDFKDQJHWKHFRXSRQSD\PHQWGDWHVUHGHPSWLRQGDWHVUHGHPSWLRQDPRXQWVDQGRWKHUFDVKÀRZZRUNLQJVVKDOOEHFKDQJHGDFFRUGLQJO\)RUGHWDLOVRIWKH interest payment please refer to “Interest and Payment of Interest ” at page no 90 of the Tranche II Prospectus. For further information please refer to section titled “Issue Related Information” on page 79 of the Tranche II Prospectus. For further details please refer to the Shelf Prospectus dated February 05, 2019 and Tranche II Prospectus dated May 03, 2019. ------TEAR HERE ------z In case of queries related to allotment/ credit of Allotted NCD/Refund, the Applicants COMPANY CONTACT DETAILS REGISTRAR CONTACT DETAILS should contact Registrar to the Issue. z In case of ASBA Application submitted to the SCSBs, the Applicants should contact MUTHOOT FINANCE LIMITED, (CIN: L65910KL1997PLC011300) LINK INTIME INDIA PRIVATE LIMITED (CIN: 80+37& ) the relevant SCSB. 5HJLVWHUHG DQG &RUSRUDWH 2I¿FH : 2 nd Floor, Muthoot Chambers, C-101, 247 Park, L B S Marg, Vikhroli West, Mumbai 400 083, India z In case of queries related to upload of ASBA Applications submitted Opposite Saritha Theatre Complex, Banerji Road, Kochi 682 018, India. Tel: (+91 22) 4918 6200, Fax: (+91 22) 4918 6195 to the Lead Manager/Lead Brokers/Trading Members/ CRTA / CDP / SCSB Applicants should contact the relevant Lead Manager/Lead Brokers/ Tel : (+91 484) 239 4712; Fax : (+91 484) 239 6506; Email: PÀQFG#OLQNLQWLPHFRLQ Trading Members/ CRTA / CDP / SCSB. Website ZZZPXWKRRW¿QDQFHFRP Email : [email protected]. Investor Grievance Email: PÀQFG#OLQNLQWLPHFRLQ z The grievance arising out of Applications for NCDs made through Trading Members : Maxin James; Website: www.linkintime.co.in may be addressed directly to BSE. &RPSDQ\ 6HFUHWDU\ DQG &RPSOLDQFH 2I¿FHU z Acknowledgment is subject to realization of Funds in the ASBA account. Tel : (+91 484) 6690247; Fax : (+91 484) 239 6506; Contact Person: : Shanti Gopalakrishnan E-mail : [email protected] SEBI Registration No.: INR000004058 2 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

THIS ABRIDGED PROSPECTUS CONSISTS OF 48 PAGES, PLEASE ENSURE THAT YOU GET ALL PAGES Please ensure that you read the Shelf Prospectus and the Tranche II Prospectus (collectively termed as “Prospectus”) and the general instructions contained LQWKLV$EULGJHG3URVSHFWXVEHIRUHDSSO\LQJLQWKH7UDQFKH,,,VVXH8QOHVVRWKHUZLVHVSHFL¿HGDOOFDSLWDOLVHGWHUPVXVHGLQWKLVIRUPVKDOOKDYHWKHPHDQLQJ ascribed to such terms in the Abridged Prospectus. The investors are advised to retain a copy of Prospectus/Abridged Prospectus for their future reference. All UHIHUHQFHWRSDJHVXQOHVVVSHFL¿HGUHIHUWRWKH3URVSHFWXV

MUTHOOT FINANCE LIMITED Our Company was originally incorporated at Kochi, Kerala as a private limited company on March 14, 1997 under the provisions of the Companies Act, 1956, with the name “The Muthoot Finance 3ULYDWH /LPLWHG´ 6XEVHTXHQWO\ E\ D IUHVK FHUWL¿FDWH RI LQFRUSRUDWLRQ GDWHG 0D\ RXU QDPH ZDV FKDQJHG WR ³0XWKRRW )LQDQFH 3ULYDWH /LPLWHG´ 2XU &RPSDQ\ ZDV FRQYHUWHG LQWR D SXEOLF OLPLWHG FRPSDQ\ RQ 1RYHPEHU ZLWK WKH QDPH ³0XWKRRW )LQDQFH /LPLWHG´ DQG UHFHLYHG D IUHVK FHUWL¿FDWH RI LQFRUSRUDWLRQ FRQVHTXHQW WR FKDQJH LQ VWDWXV RQ 'HFHPEHU IURPWKH5HJLVWUDURI&RPSDQLHV.HUDODDQG/DNVKDGZHHS)RUIXUWKHUGHWDLOVUHJDUGLQJFKDQJHVWRWKHQDPHDQGUHJLVWHUHGRI¿FHRIRXU&RPSDQ\VHHVHFWLRQWLWOHG³+LVWRU\DQG0DLQ2EMHFWV´ RQSDJHRIWKH6KHOI3URVSHFWXV7KHFRUSRUDWHLGHQWLW\QXPEHURIRXU&RPSDQ\LV/./3/& 5HJLVWHUHGDQG&RUSRUDWH2I¿FH QG)ORRU0XWKRRW&KDPEHUV2SSRVLWH6DULWKD7KHDWUH&RPSOH[%DQHUML5RDG.RFKL,QGLD 7HO )D[ :HEVLWH ZZZPXWKRRW¿QDQFHFRP (PDLO [email protected]. &RPSDQ\6HFUHWDU\DQG&RPSOLDQFH2I¿FHU 0D[LQ-DPHV 7HO )D[ (PDLO [email protected] PUBLIC ISSUE BY MUTHOOT FINANCE LIMITED (“COMPANY” OR THE “ISSUER”) OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF ` 1,000 EACH (“NCDs”) FOR AN AMOUNT OF ` 1,000 MILLION (“BASE ISSUE SIZE”) WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO ` 9,000 MILLION AGGREGATING UP TO 10,000,000 NCDs AMOUNTING TO ` 10,000 MILLION (“TRANCHE II ISSUE LIMIT”) (“TRANCHE II ISSUE”) WHICH IS WITHIN THE SHELF LIMIT OF ` 40,000 MILLION AND IS BEING OFFERED BY WAY OF THE TRANCHE II PROSPECTUS DATED MAY 03, 2019 CONTAINING, INTER ALIA, THE TERMS AND CONDITIONS OF THE TRANCHE II ISSUE (“TRANCHE II PROSPECTUS”), WHICH SHOULD BE READ TOGETHER WITH THE SHELF PROSPECTUS DATED FEBRUARY 05, 2019 (“SHELF PROSPECTUS”) FILED WITH THE REGISTRAR OF COMPANIES, KERALA AND LAKSHADWEEP (“ROC”), STOCK EXCHANGES AND SECURITIES AND EXCHANGE BOARD OF INDIA. 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MUTHOOT FINANCE LIMITED 7 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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MUTHOOT FINANCE LIMITED 11 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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MUTHOOT FINANCE LIMITED 13 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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14 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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MUTHOOT FINANCE LIMITED 15 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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16 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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Allotment would be on proportionate EDVLV ZKHUH 6HFXUHG 1&'V XSORDGHG LQWR WKH SODWIRUP RI WKH 2XU &RPSDQ\ ZRXOG DOORW 2SWLRQ ,9 6HFXUHG 1&'V WR DOO YDOLG 6WRFN ([FKDQJH RQ D SDUWLFXODU GDWH H[FHHGV 6HFXUHG 1&'V WR DSSOLFDWLRQVZKHUHLQWKHDSSOLFDQWVKDYHVHOHFWHGRQO\6HFXUHG1&'V be Allotted for each portion respectively. but have not indicated their choice of the relevant options of the 6HFXUHG1&'V 2SWLRQ,2SWLRQ,,2SWLRQ,,,2SWLRQ,92SWLRQ9 (d) 0LQLPXP$OORWPHQWV RI 6HFXUHG 1&' DQG LQ PXOWLSOHV RI 2SWLRQ9,2SWLRQ9,,2SWLRQ9,,,2SWLRQ,;RU2SWLRQ; 6HFXUHG 1&' WKHUHDIWHU ZRXOG EH PDGH LQ FDVH RI HDFK YDOLG Application to all Applicants. 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Investor Withdrawals and Pre-closure WKH$SSOLFDQWVRQD¿UVWFRPH¿UVWEDVLVXSWRWKHGDWHIDOOLQJ (one) day prior to the date of oversubscription and proportionate Investor Withdrawal: Applicants are allowed to withdraw their DOORWPHQW RI 6HFXUHG 1&'V WR WKH DSSOLFDQWV RQ WKH GDWH RI $SSOLFDWLRQVDWDQ\WLPHSULRUWRWKH7UDQFKH,,,VVXH&ORVLQJ'DWH oversubscription (based on the date of upload of each Application Pre-closure: Our Company, in consultation with the Lead Managers RQWKHHOHFWURQLFSODWIRUPRIWKH6WRFN([FKDQJHLQHDFK3RUWLRQ UHVHUYHV WKH ULJKW WR FORVH WKH 7UDQFKH ,, ,VVXH DW DQ\ WLPH SULRU WR (f) Proportionate Allotments: For each Portion, on the date of WKH 7UDQFKH ,, ,VVXH &ORVLQJ 'DWH VXEMHFW WR UHFHLSW RI PLQLPXP ` RYHUVXEVFULSWLRQ VXEVFULSWLRQ ZKLFK LV RI WKH %DVH 7UDQFKH ,, ,VVXH LH PLOOLRQ EHIRUH WKH 7UDQFKH ,, ,VVXH &ORVLQJ 'DWH 2XU &RPSDQ\ (i) Allotments to the Applicants shall be made in proportion to their VKDOO DOORW 1&'V ZLWK UHVSHFW WR WKH $SSOLFDWLRQV UHFHLYHG DW WKH respective Application size, rounded off to the nearest integer. 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RIWKH7UDQFKH,,,VVXHDVDSSOLFDEOHWKURXJKDGYHUWLVHPHQW V LQDOO (g) Applicant applying for more than one Options of Secured NCDs those newspapers in which pre-issue advertisement and advertisement ,IDQ$SSOLFDQWKDVDSSOLHGIRUPRUHWKDQRQH2SWLRQRI6HFXUHG IRURSHQLQJRUFORVXUHRIWKH7UDQFKH,,,VVXHKDYHEHHQJLYHQ 1&'VDQGLQFDVHVXFK$SSOLFDQWLVHQWLWOHGWRDOORFDWLRQRIRQO\ 41. Undertaking by the Tranche II Issuer DSDUWRIWKHDJJUHJDWHQXPEHURI6HFXUHG1&'VDSSOLHGIRUWKH Statement by the Board: 2SWLRQZLVHDOORFDWLRQRI6HFXUHG1&'VWRVXFK$SSOLFDQWVVKDOO EHLQSURSRUWLRQWRWKHQXPEHURI6HFXUHG1&'VZLWKUHVSHFWWR D $OOPRQLHVUHFHLYHGSXUVXDQWWRWKH7UDQFKH,,,VVXHRI6HFXUHG HDFK2SWLRQVDSSOLHGIRUE\VXFK$SSOLFDQWVXEMHFWWRURXQGLQJ 1&'V WR SXEOLF VKDOO EH WUDQVIHUUHG WR D VHSDUDWH EDQN DFFRXQW off to the nearest integer, as appropriate in consultation with the as referred to in s XEVHFWLRQ RIVHFWLRQRIWKH&RPSDQLHV $FW

MUTHOOT FINANCE LIMITED 17 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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(b) makes or abets making of multiple applications to a company (d) the details of all utilized and unutilised monies out of the monies in different names or in different combinations of his name or collected in the previous issue made by way of public offer shall surname for acquiring or subscribing for its securities; or be disclosed and continued to be disclosed in the balance sheet (c) otherwise induces directly or indirectly a company to allot, or till the time any part of the proceeds of such previous issue register any transfer of, securities to him, or to any other person remains unutilized indicating the purpose for which such monies LQD¿FWLWLRXVQDPHVKDOOEHOLDEOHIRUDFWLRQXQGHUVHFWLRQ´ KDYHEHHQXWLOL]HGDQGWKHVHFXULWLHVRURWKHUIRUPVRI¿QDQFLDO 44. 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Our Company shall ensure that all inter alia by way of a lease, of any immovable property. steps for the completion of the necessary formalities for listing and (g) The allotment letter shall be issued, or Application Amount shall FRPPHQFHPHQW RI WUDGLQJ DW WKH 6WRFN ([FKDQJH DUH WDNHQ ZLWKLQ be unblocked within 15 days from the closure of the Tranche VL[ :RUNLQJ'D\VIURPWKHGDWHRI$OORWPHQW ,, ,VVXH RU VXFK OHVVHU WLPH DV PD\ EH VSHFL¿HG E\ 6(%, RU )RUWKHDYRLGDQFHRIGRXEWLWLVKHUHE\FODUL¿HGWKDWLQWKHHYHQWRI else the Application Amount shall be refunded to the applicants QRQVXEVFULSWLRQWRDQ\RQHRUPRUHRIWKH2SWLRQVVXFK1&'VZLWK forthwith, failing which interest shall be due to be paid to the Option(s) shall not be listed. DSSOLFDQWVDWWKHUDWHRISHUDQQXPIRUWKHGHOD\HGSHULRG TERMS OF THE ISSUE Other Undertakings by our Company 45. Authority for the Tranche II Issue 2XU&RPSDQ\XQGHUWDNHVWKDW $W WKH PHHWLQJ RI WKH %RDUG RI 'LUHFWRUV RI RXU &RPSDQ\ KHOG RQ D &RPSODLQWV UHFHLYHG LQ UHVSHFW RI WKH 7UDQFKH ,, ,VVXH ZLOO EH 0D\ WKH 'LUHFWRUV DSSURYHG WKH LVVXDQFH WR WKH SXEOLF RI DWWHQGHGWRE\RXU&RPSDQ\H[SHGLWLRXVO\DQGVDWLVIDFWRULO\ secured redeemable non-convertible debentures of face value of ` (b) Necessary cooperation to the relevant credit rating agency(ies) and unsecured redeemable non-convertible debentures of face value ZLOOEHH[WHQGHGLQSURYLGLQJWUXHDQGDGHTXDWHLQIRUPDWLRQXQWLO of `HDFKDJJUHJDWLQJXSWR `PLOOLRQ WKHREOLJDWLRQVLQUHVSHFWRIWKH6HFXUHG1&'VDUHRXWVWDQGLQJ 7KHSUHVHQW7UDQFKH,,,VVXHWKURXJKWKH6KHOI3URVSHFWXVRI6HFXUHG (c) Our Company will take necessary steps for the purpose of getting 1&'VRIIDFHYDOXHRI `IRUDQDPRXQWXSWR `PLOOLRQ WKH6HFXUHG1&'VOLVWHGZLWKLQWKHVSHFL¿HGWLPHLHZLWKLQ (“ Shelf Limit ”), hereinafter called the “ Tranche II Issue ” was approved :RUNLQJ'D\VRIWKH7UDQFKH,,,VVXH&ORVLQJ'DWH E\1&'&RPPLWWHHPHHWLQJGDWHG-DQXDU\ (d) Funds required for dispatch of Allotment Advice will be made 7KH SUHVHQW 7UDQFKH ,, ,VVXH WKURXJK WKH 7UDQFKH ,, 3URVSHFWXV RI ` DYDLODEOH E\ RXU &RPSDQ\ WR WKH 5HJLVWUDU WR WKH 7UDQFKH ,, 6HFXUHG 1&'V ZLWK D EDVH LVVXH VL]H RI PLOOLRQ ZLWK DQ option to retain oversubscription up to an amount of ` ,VVXH PLOOLRQ aggregating up to ` PLOOLRQ ZDV DSSURYHG E\ WKH 1&' (e) Our Company will forward details of utilisation of the proceeds &RPPLWWHHDWLWVPHHWLQJGDWHG0D\ RI WKH7UDQFKH ,, ,VVXH GXO\ FHUWL¿HG E\ WKH 6WDWXWRU\$XGLWRU Further, the present borrowing is within the borrowing limits under WRWKH'HEHQWXUH7UXVWHH 6HFWLRQ F RIWKH&RPSDQLHV$FWGXO\DSSURYHGE\WKH (f) Our Company will provide a compliance certificate to the VKDUHKROGHUV¶YLGHWKHLUUHVROXWLRQGDWHG6HSWHPEHU 'HEHQWXUH7UXVWHH RQ DQ DQQXDO EDVLV LQ UHVSHFW RI FRPSOLDQFH 46. 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18 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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Direct Credit (DFKDSSOLFDWLRQVKRXOGEHIRUDPLQLPXPRI1&'VDQGPXOWLSOHV ,QYHVWRUVKDYLQJWKHLUEDQNDFFRXQWZLWKWKH5HIXQG%DQNVKDOO RI1&'WKHUHDIWHU IRUDOORSWLRQVRI1&'VQDPHO\2SWLRQ,2SWLRQ be eligible to receive refunds, if any, through direct credit. The ,, 2SWLRQ ,,, 2SWLRQ ,92SWLRQ 92SWLRQ 9, 2SWLRQ 9,, 2SWLRQ refund amount, if any, would be credited directly to their bank 9,,,2SWLRQ,;DQG2SWLRQ;HLWKHUWDNHQLQGLYLGXDOO\RUFROOHFWLYHO\ 7KHPLQLPXPDSSOLFDWLRQVL]HIRUHDFKDSSOLFDWLRQIRU6HFXUHG1&'V DFFRXQW ZLWK WKH 5HIXQG %DQNHU ,QWHUHVW UHGHPSWLRQ DPRXQW would be `DQGLQPXOWLSOHVRI `WKHUHDIWHU ZRXOGEHFUHGLWHGGLUHFWO\WRWKHEDQNDFFRXQWVRIWKH,QYHVWRUV if held with the same bank as the Company. Applicants are advised to ensure that applications made by them do not exceed the investment limits or maximum number of Secured 2. NACH NCDs that can be held by them under applicable statutory and 1DWLRQDO$XWRPDWHG&OHDULQJ+RXVHZKLFKLVDFRQVROLGDWHGV\VWHPRI or regulatory provisions. 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RTGS WRH[WHQGORDQVDJDLQVWWKHVHFXULW\RILWVGHEHQWXUHVLVVXHGE\ZD\RISULYDWH Applicants having a bank account with a participating bank and whose SODFHPHQWRUSXEOLFLVVXHV+RZHYHULIWKH5%,VXEVHTXHQWO\SHUPLWVWKH LQWHUHVWSD\PHQWUHIXQGUHGHPSWLRQDPRXQWVH[FHHG `RU H[WHQVLRQRIORDQVE\1%)&VDJDLQVWWKHVHFXULW\RILWVGHEHQWXUHVLVVXHG VXFKDPRXQWDVPD\EH¿[HGE\5%,IURPWLPHWRWLPHKDYHWKH by way of private placement or public issues, the Company may consider RSWLRQ WR UHFHLYH UHIXQG WKURXJK 57*6 6XFK HOLJLEOH $SSOLFDQWV JUDQWLQJORDQVDJDLQVWWKHVHFXULW\RIVXFK6HFXUHG1&'VVXEMHFWWRWHUPV ZKR LQGLFDWH WKHLU SUHIHUHQFH WR UHFHLYH LQWHUHVW SD\PHQW UHIXQG and conditions as may be decided by the Company at the relevant time, UHGHPSWLRQ WKURXJK 57*6 DUH UHTXLUHG WR SURYLGH WKH ,)6& FRGH in compliance with applicable law. in the Application Form or intimate our Company and the Registrar 68. 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LQWR VPDOOHU GHQRPLQDWLRQV VXEMHFW WR WKH PLQLPXP RI 0DUNHW /RW 1R 5. Registered Post/Speed Post IHHVZRXOGEHFKDUJHGIRUVSOLWWLQJRI6HFXUHG1&'FHUWL¿FDWHVLQ0DUNHW /RWVEXWVWDPSGXW\SD\DEOHLIDQ\ZRXOGEHERUQHE\WKH6HFXUHG1&' For all other applicants, including those who have not updated +ROGHU7KHUHTXHVWIRUVSOLWWLQJVKRXOGEHDFFRPSDQLHGE\WKHRULJLQDO WKHLUEDQNSDUWLFXODUVZLWKWKH0,&5FRGHWKHLQWHUHVWSD\PHQW 1&'FHUWL¿FDWHZKLFKZRXOGWKHQEHWUHDWHGDVFDQFHOOHGE\XV UHIXQG UHGHPSWLRQ RUGHUV VKDOO EH GLVSDWFKHG WKURXJK VSHHG SRVWUHJLVWHUHGSRVW 70. Procedure for Redemption by Secured NCD holders Please note that applicants are eligible to receive payments 7KHSURFHGXUHIRUUHGHPSWLRQLVVHWRXWEHORZ WKURXJKWKHPRGHVGHWDLOHGLQ DQG KHUHLQDERYH 6HFXUHG1&'VKHOGLQSK\VLFDOIRUP provided they provide necessary information for the above modes 1RDFWLRQZRXOGRUGLQDULO\EHUHTXLUHGRQWKHSDUWRIWKH6HFXUHG1&' DQGZKHUHVXFKSD\PHQWIDFLOLWLHVDUHDOORZHGDYDLODEOH +ROGHUDWWKHWLPHRIUHGHPSWLRQDQGWKHUHGHPSWLRQSURFHHGVZRXOGEH Please note that our Company shall not be responsible to the holder SDLG WR WKRVH 6HFXUHG 1&' +ROGHUV ZKRVH QDPHV VWDQG LQ WKH UHJLVWHU RI 6HFXUHG 1&' IRU DQ\ GHOD\ LQ UHFHLYLQJ FUHGLW RI LQWHUHVW RIGHEHQWXUHKROGHUVPDLQWDLQHGE\XVRQWKH5HFRUG'DWH¿[HGIRUWKH UHIXQG UHGHPSWLRQ VR ORQJ DV RXU &RPSDQ\ KDV LQLWLDWHG WKH SXUSRVH RI 5HGHPSWLRQ +RZHYHU RXU &RPSDQ\ PD\ UHTXLUH WKDW WKH process of such request in time. 6HFXUHG 1&' FHUWL¿FDWH V GXO\ GLVFKDUJHG E\ WKH VROH KROGHUDOO WKH 66. Printing of Bank Particulars on Interest Warrants MRLQWKROGHUV VLJQHGRQWKHUHYHUVHRIWKH6HFXUHG1&'FHUWL¿FDWHV EH surrendered for redemption on maturity and should be sent by the Secured As a matter of precaution against possible fraudulent encashment of refund 1&'+ROGHUVE\5HJLVWHUHG3RVWZLWKDFNQRZOHGJPHQWGXHRUE\KDQG RUGHUVDQGLQWHUHVWUHGHPSWLRQZDUUDQWVGXHWRORVVRUPLVSODFHPHQWWKH GHOLYHU\ WR RXU RI¿FH RU WR VXFK SHUVRQV DW VXFK DGGUHVVHV DV PD\ EH SDUWLFXODUVRIWKH$SSOLFDQW¶VEDQNDFFRXQWDUHPDQGDWRULO\UHTXLUHGWREH QRWL¿HGE\XVIURPWLPHWRWLPH6HFXUHG1&'+ROGHUVPD\EHUHTXHVWHG JLYHQ IRU SULQWLQJ RQ WKH RUGHUV ZDUUDQWV ,Q UHODWLRQ WR 6HFXUHG 1&'V WRVXUUHQGHUWKH6HFXUHG1&'FHUWL¿FDWHVLQWKHPDQQHUDVVWDWHGDERYH applied and held in dematerialized form, these particulars would be taken not more than three months and not less than one month prior to the GLUHFWO\IURPWKHGHSRVLWRULHV,QFDVHRI6HFXUHG1&'VKHOGLQSK\VLFDO redemption date so as to facilitate timely payment. 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MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

VKDOOEHWUHDWHGIRUDOOSXUSRVHVE\RXU&RPSDQ\WKH'HEHQWXUH7UXVWHH 80. Security WKH'HSRVLWRULHVDQGDOORWKHUSHUVRQVGHDOLQJZLWKVXFKSHUVRQDVWKH 7KHSULQFLSDODPRXQWRIWKH6HFXUHG1&'VWREHLVVXHGLQWHUPVRIWKH holder thereof and its absolute owner for all purposes whether or not 7UDQFKH,,3URVSHFWXVWRJHWKHUZLWKDOOLQWHUHVWGXHRQWKH6HFXUHG1&'V it is overdue and regardless of any notice of ownership, trust or any DVZHOODVDOOFRVWVFKDUJHVDOOIHHVUHPXQHUDWLRQRI'HEHQWXUH7UXVWHHDQG LQWHUHVWLQLWRUDQ\ZULWLQJRQWKHIWRUORVVRIWKH&RQVROLGDWHG1&' H[SHQVHVSD\DEOHLQUHVSHFWWKHUHRIVKDOOEHVHFXUHGE\ZD\RI¿UVW pari &HUWL¿FDWHVLVVXHGLQUHVSHFWRIWKH6HFXUHG1&'VDQGQRSHUVRQZLOO passu FKDUJHRQWKHLGHQWL¿HGLPPRYDEOHSURSHUW\DQGD¿UVW pari passu EHOLDEOHIRUVRWUHDWLQJWKH6HFXUHG1&'KROGHU charge on current assets, book debts, loans and advances, and receivables 1R WUDQVIHU RI WLWOH RI D 1&' ZLOO EH YDOLG XQOHVV DQG XQWLO HQWHUHG including gold loan receivables, both present and future, of our Company. RQ WKH UHJLVWHU RI 1&' KROGHUV RU WKH UHJLVWHU RI EHQH¿FLDO RZQHUV 2XU &RPSDQ\ ZLOO FUHDWH WKH VHFXULW\ IRU WKH 6HFXUHG 1&'V LQ IDYRXU PDLQWDLQHGE\WKH'HSRVLWRU\SULRUWRWKH5HFRUG'DWH,QWKHDEVHQFH RIWKH'HEHQWXUH7UXVWHHIRUWKH6HFXUHG1&'+ROGHUVRQWKHDVVHWVWR RI WUDQVIHU EHLQJ UHJLVWHUHG LQWHUHVW DQGRU PDWXULW\ DPRXQW DV WKH HQVXUH VHFXULW\ FRYHU RI WKH DPRXQW RXWVWDQGLQJ LQ UHVSHFW RI FDVHPD\EHZLOOEHSDLGWRWKHSHUVRQZKRVHQDPHDSSHDUV¿UVWLQ 6HFXUHG1&'VLQFOXGLQJLQWHUHVWWKHUHRQDWDQ\WLPH WKHUHJLVWHURIWKH1&'+ROGHUVPDLQWDLQHGE\WKH'HSRVLWRULHVDQG 2XU&RPSDQ\KDVHQWHUHGLQWRDQDJUHHPHQWZLWKWKH'HEHQWXUH7UXVWHH RU RXU &RPSDQ\ DQGRU WKH 5HJLVWUDU DV WKH FDVH PD\ EH ,Q VXFK (‘ Debenture Trust Deed’ ), the terms of which governs the appointment of FDVHV FODLPV LI DQ\ E\ WKH SXUFKDVHUV RI WKH 6HFXUHG 1&'V ZLOO WKH'HEHQWXUH7UXVWHHDQGWKHLVVXHRIWKH6HFXUHG1&'V2XU&RPSDQ\ QHHGWREHVHWWOHGZLWKWKHVHOOHURIWKH6HFXUHG1&'VDQGQRWZLWK SURSRVHVWRFRPSOHWHWKHH[HFXWLRQRIWKH'HEHQWXUH7UXVW'HHGEHIRUH our Company or the Registrar. The provisions relating to transfer and ¿QDOLVDWLRQRIWKH%DVLVRI$OORWPHQWLQFRQVXOWDWLRQZLWKWKH'HVLJQDWHG WUDQVPLVVLRQ DQG RWKHU UHODWHG PDWWHUV LQ UHVSHFW RI RXU &RPSDQ\¶V 6WRFN ([FKDQJH DQG XWLOL]H WKH IXQGV RQO\ DIWHU WKH VWLSXODWHG VHFXULW\ shares contained in the Articles of Association of our Company and has been created and upon receipt of listing and trading approval from WKH&RPSDQLHV$FWWKHUHOHYDQWSURYLVLRQVRIWKH&RPSDQLHV$FW WKH'HVLJQDWHG6WRFN([FKDQJH DSSOLFDEOHDVRQWKHGDWHRIWKH7UDQFKH,,3URVSHFWXVVKDOODSSO\PXWDWLV 8QGHUWKHWHUPVRIWKH'HEHQWXUH7UXVW'HHGRXU&RPSDQ\ZLOOFRYHQDQW PXWDQGLV WRWKHH[WHQWDSSOLFDEOH WRWKH6HFXUHG1&' V DVZHOO ZLWKWKH'HEHQWXUH7UXVWHHWKDWLWZLOOSD\WKH6HFXUHG1&'+ROGHUVWKH 75. Common form of transfer SULQFLSDODPRXQWRQWKH6HFXUHG1&'VRQWKHUHOHYDQWUHGHPSWLRQGDWH 7KH 7UDQFKH ,, ,VVXHU XQGHUWDNHV WKDW WKHUH VKDOO EH D FRPPRQ IRUP DQG DOVR WKDW LW ZLOO SD\ WKH LQWHUHVW GXH RQ 6HFXUHG 1&'V RQ WKH UDWH RI WUDQVIHU IRU WKH 6HFXUHG 1&'V DQG WKH SURYLVLRQV RI WKH &RPSDQLHV VSHFL¿HGLQWKH7UDQFKH,,3URVSHFWXVDQGLQWKH'HEHQWXUH7UXVW'HHG $FWDQGDOODSSOLFDEOHODZVLQFOXGLQJWKH)(0$DQGWKHUXOHVDQG 7KH 'HEHQWXUH 7UXVW 'HHG ZLOO DOVR SURYLGH WKDW RXU &RPSDQ\ PD\ regulations thereunder shall be duly complied with in respect of all transfer withdraw any portion of the security and replace with another asset of of debentures and registration thereof. the same or a higher value. -RLQWKROGHUV 81. Trustees for the Secured NCD holders :KHUHWZRRUPRUHSHUVRQVDUHKROGHUVRIDQ\6HFXUHG1&' V WKH\VKDOO :H KDYH DSSRLQWHG ,'%, 7UXVWHHVKLS 6HUYLFHV /LPLWHG WR DFW DV WKH EHGHHPHGWRKROGWKHVDPHDVMRLQWKROGHUVZLWKEHQH¿WVRIVXUYLYRUVKLS 'HEHQWXUH7UXVWHHVIRUWKH6HFXUHG1&'+ROGHUV7KH'HEHQWXUH7UXVWHH VXEMHFWWRRWKHUSURYLVLRQVFRQWDLQHGLQWKH$UWLFOHV DQG XV ZLOO H[HFXWH D 'HEHQWXUH 7UXVW 'HHG inter alia , specifying the 77. Sharing of information SRZHUVDXWKRULWLHVDQGREOLJDWLRQVRIWKH'HEHQWXUH7UXVWHHDQGXV7KH 6HFXUHG 1&' +ROGHUV VKDOO ZLWKRXW IXUWKHU DFW RU GHHG EH GHHPHG WR :HPD\DWRXURSWLRQXVHRQRXURZQDVZHOODVH[FKDQJHVKDUHRUSDUW KDYHLUUHYRFDEO\JLYHQWKHLUFRQVHQWWRWKH'HEHQWXUH7UXVWHHRUDQ\RI ZLWKDQ\¿QDQFLDORURWKHULQIRUPDWLRQDERXWWKH6HFXUHG1&'+ROGHUV LWV DJHQWV RU DXWKRULVHG RI¿FLDOV WR GR DOO VXFK DFWV GHHGV PDWWHUV DQG DYDLODEOH ZLWK XV ZLWK RXU VXEVLGLDULHV LI DQ\ DQG DI¿OLDWHV DQG RWKHU WKLQJV LQ UHVSHFW RI RU UHODWLQJ WR WKH 6HFXUHG 1&'V DV WKH 'HEHQWXUH EDQNV¿QDQFLDOLQVWLWXWLRQVFUHGLWEXUHDXVDJHQFLHVVWDWXWRU\ERGLHVDV Trustee may in its absolute discretion deem necessary or require to be PD\EHUHTXLUHGDQGQHLWKHUZHRURXUDI¿OLDWHVQRUWKHLUDJHQWVVKDOOEH liable for use of the aforesaid information. GRQHLQWKHLQWHUHVWRIWKH6HFXUHG1&'+ROGHUV$Q\SD\PHQWPDGHE\ XVWRWKH'HEHQWXUH7UXVWHHRQEHKDOIRIWKH6HFXUHG1&'+ROGHUVVKDOO 78. Notices GLVFKDUJHXVSURWDQWRWRWKH6HFXUHG1&'+ROGHUV $OO QRWLFHV WR WKH 6HFXUHG 1&' +ROGHUV UHTXLUHG WR EH JLYHQ E\ XV RU 7KH'HEHQWXUH7UXVWHHZLOOSURWHFWWKHLQWHUHVWRIWKH6HFXUHG1&'+ROGHUV WKH 'HEHQWXUH 7UXVWHH ZLOO EH VHQW E\ VSHHG SRVW RU UHJLVWHUHG SRVW RU in the event of default by us in regard to timely payment of interest and WKURXJK HPDLO RU RWKHU HOHFWURQLF PHGLD WR WKH UHJLVWHUHG 6HFXUHG 1&' repayment of principal and they will take necessary action at our cost. +ROGHUVIURPWLPHWRWLPH (YHQWVRI'HIDXOW 7UDQFKH ,, ,VVXH RI 'XSOLFDWH 1&' &HUWL¿FDWH V LVVXHG LQ 6XEMHFW WR WKH WHUPV RI WKH 'HEHQWXUH 7UXVW 'HHG WKH 'HEHQWXUH physical form Trustee at its discretion may, or if so requested in writing by the ,I1&'FHUWL¿FDWH V LVDUHPXWLODWHGRUGHIDFHGRUWKHFDJHVIRUUHFRUGLQJ holders of at least three-fourths of the outstanding amount of the WUDQVIHUVRI6HFXUHG1&'VDUHIXOO\XWLOLVHGWKHVDPHPD\EHUHSODFHGE\ 6HFXUHG1&'VRUZLWKWKHVDQFWLRQRIDVSHFLDOUHVROXWLRQSDVVHGDW XVDJDLQVWWKHVXUUHQGHURIVXFKFHUWL¿FDWH V 3URYLGHGZKHUHWKH1&' DPHHWLQJRIWKH1&'+ROGHUV VXEMHFWWREHLQJLQGHPQL¿HGDQGRU FHUWL¿FDWH V DUHPXWLODWHGRUGHIDFHGWKHVDPHZLOOEHUHSODFHGDVDIRUHVDLG VHFXUHG E\ WKH 1&' +ROGHUV WR LWV VDWLVIDFWLRQ JLYH QRWLFH WR RXU RQO\LIWKHFHUWL¿FDWHQXPEHUVDQGWKHGLVWLQFWLYHQXPEHUVDUHOHJLEOH &RPSDQ\ VSHFLI\LQJ WKDW WKH 1&'V DQGRU DQ\ SDUWLFXODU VHULHV RI ,IDQ\1&'FHUWL¿FDWHLVGHVWUR\HGVWROHQRUORVWWKHQXSRQSURGXFWLRQ 6HFXUHG 1&'V LQ ZKROH EXW QRW LQ SDUW DUH DQG KDYH EHFRPH GXH RISURRIWKHUHRIWRRXUVDWLVIDFWLRQDQGXSRQIXUQLVKLQJVXFKLQGHPQLW\ DQG UHSD\DEOH RQ VXFK GDWH DV PD\ EH VSHFL¿HG LQ VXFK QRWLFH LQWHU VHFXULW\DQGRUGRFXPHQWVDVZHPD\GHHPDGHTXDWHGXSOLFDWH6HFXUHG alia if any of the events listed below occurs. The description below is 1&' FHUWL¿FDWHV VKDOO EH LVVXHG 8SRQ LVVXDQFH RI D GXSOLFDWH 1&' indicative and a complete list of events of default and its consequences FHUWL¿FDWHWKHRULJLQDO1&'FHUWL¿FDWHVKDOOVWDQGFDQFHOOHG ZLOOEHVSHFL¿HGLQWKH'HEHQWXUH7UXVW'HHG

MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

(i) default is committed in payment of the principal amount of the Corpora WHDQG5HJLVWHUHG2I¿FH 6HFXUHG1&'VRQWKHGXHGDWH V DQG Muthoot Finance Limited (ii) two consecutive defaults are committed in payment of any interest nd Floor, Muthoot Chambers RQWKH1&'VRQWKHGXHGDWH V 2SSRVLWH6DULWKD7KHDWUH&RPSOH[ %DQHUML5RDG.RFKL 83. Lien .HUDOD,QGLD $V SHU WKH 5%, FLUFXODU GDWHG -XQH WKH &RPSDQ\ LV QRW 7HO SHUPLWWHGWRH[WHQGORDQVDJDLQVWWKHVHFXULW\RILWVGHEHQWXUHVLVVXHG )D[ by way of private placement or public issues. The Company shall :HEVLWHZZZPXWKRRW¿QDQFHFRP have the right of set-off and lien, present as well as future on the (PDLOQFG#PXWKRRWJURXSFRP PRQH\VGXHDQGSD\DEOHWRWKH6HFXUHG1&'KROGHUVRUGHSRVLWVKHOG )RU GHWDLOV RI FKDQJH LQ UHJLVWHUHG RI¿FH UHIHU WR WKH VHFWLRQ WLWOHG LQWKHDFFRXQWRIWKH6HFXUHG1&'KROGHUVZKHWKHULQVLQJOHQDPH “History and Main Objects ´RQSDJHRIWKH6KHOI3URVSHFWXV RU MRLQW QDPH WR WKH H[WHQW RI DOO RXWVWDQGLQJ GXHV E\ WKH 6HFXUHG Registration 1&'KROGHUVWRWKH&RPSDQ\VXEMHFWWRDSSOLFDEOHODZ 5HJLVWUDWLRQ1XPEHU 84. Lien on pledge of Secured NCDs &RUSRUDWH,GHQWLW\1XPEHU/./3/&LVVXHGE\WKH The Company may, at its discretion note a lien on pledge of Secured Registrar of Companies, Kerala and Lakshadweep. 1&'VLIVXFKSOHGJHRI6HFXUHG1&'LVDFFHSWHGE\DQ\WKLUW\SDUW\ &HUWL¿FDWHRIUHJLVWUDWLRQEHDULQJQXPEHU1XQGHU6HFWLRQ,$ EDQNLQVWLWXWLRQ RU DQ\ RWKHU SHUVRQ IRU DQ\ ORDQ SURYLGHG WR WKH RI WKH 5%,$FW IURP WKH 5%, GDWHG 'HFHPEHU IURP 6HFXUHG1&'KROGHUDJDLQVWSOHGJHRIVXFK6HFXUHG1&'VDVSDUWRI WKH5%,WRFDUU\RQWKHEXVLQHVVRIDQRQEDQNLQJ¿QDQFLDOLQVWLWXWLRQ WKHIXQGLQJVXEMHFWWRDSSOLFDEOHODZ without accepting public deposits. &KLHI)LQDQFLDO2I¿FHU 85. Future Borrowings Oommen K. Mammen :H VKDOO EH HQWLWOHG WR PDNH IXUWKHU LVVXH RI VHFXUHG GHEHQWXUHV DQGRU nd Floor, Muthoot Chambers raise term loans or raise further funds from time to time from any persons, 2SSRVLWH6DULWKD7KHDWUH&RPSOH[ EDQNV ¿QDQFLDO LQVWLWXWLRQV RU ERGLHV FRUSRUDWH RU DQ\ RWKHU DJHQF\ %DQHUML5RDG.RFKL ZLWKRXWWKHFRQVHQWRIRUQRWL¿FDWLRQWRRUFRQVXOWDWLRQZLWKWKHKROGHU .HUDOD,QGLD RI6HFXUHG1&'VRUWKH'HEHQWXUH7UXVWHHE\FUHDWLQJDFKDUJHRQDQ\ 7HO assets, provided the stipulated security cover is maintained. )D[ (PDLORRPPHQ#PXWKRRWJURXSFRP :HVKDOOEHHQWLWOHGWRPDNHIXUWKHULVVXHRIXQVHFXUHGGHEHQWXUHVDQGRU raise unsecured term loans or raise further unsecured funds from time to &RPSDQ\6HFUHWDU\DQG&RPSOLDQFH2I¿FHU WLPHIURPDQ\SHUVRQVEDQNV¿QDQFLDOLQVWLWXWLRQVRUERGLHVFRUSRUDWHRU 0D[LQ-DPHV nd DQ\RWKHUDJHQF\ZLWKRXWWKHFRQVHQWRIRUQRWL¿FDWLRQWRRULQFRQVXOWDWLRQ Floor, Muthoot Chambers ZLWKWKHKROGHURI6HFXUHG1&'VRUWKH'HEHQWXUH7UXVWHH 2SSRVLWH6DULWKD7KHDWUH&RPSOH[ %DQHUML5RDG.RFKL.HUDOD,QGLD Illustration for guidance in respect of the day count convention 7HO and effect of holidays on payments. )D[ The illustration for guidance in respect of the day count convention (PDLOFV#PXWKRRWJURXSFRPQFG#PXWKRRWJURXSFRP DQG HIIHFW RI KROLGD\V RQ SD\PHQWV DV UHTXLUHG E\ 6(%, &LUFXODU ,QYHVWRUV PD\ FRQWDFW WKH 5HJLVWUDU WR WKH 7UDQFKH ,, ,VVXH RU WKH 1R&,5,0'')2FWREHUDQG6(%,&LUFXODU1R &RPSDQ\6HFUHWDU\DQG&RPSOLDQFH2I¿FHULQFDVHRIDQ\SUHLVVXHRU &,5,0'') GDWHG 1RYHPEHU LV GLVFORVHG LQ post-issue related issues such as non-receipt of intimation of allotment, Schedule A. GHPDWFUHGLWRIDOORWWHG1&'VRUUHIXQGVDVWKHFDVHPD\EH GENERAL INFORMATION $OO JULHYDQFHV UHODWLQJ WR WKH 7UDQFKH ,, ,VVXH PD\ EH DGGUHVVHG WR WKH 5HJLVWUDU WR WKH 7UDQFKH ,, ,VVXH JLYLQJ IXOO GHWDLOV VXFK DV Our Company was originally incorporated as a private limited company name, Application Form number, address of the Applicant, number of on March 14, 1997 under the provisions of the Companies Act, 1956, 1&'VDSSOLHGIRUDPRXQWSDLGRQDSSOLFDWLRQ'HSRVLWRU\3DUWLFLSDQW with the name “The Muthoot Finance Private Limited”. Subsequently, DQG WKH FROOHFWLRQ FHQWUH RI WKH 'HVLJQDWHG ,QWHUPHGLDU\ ZKHUH WKH E\DIUHVKFHUWL¿FDWHRILQFRUSRUDWLRQGDWHG0D\RXUQDPH Application was submitted. was changed to “Muthoot Finance Private Limited”. Our Company was $OOJULHYDQFHVUHODWLQJWRWKH$6%$SURFHVVPD\EHDGGUHVVHGWRWKH FRQYHUWHGLQWRDSXEOLFOLPLWHGFRPSDQ\RQ1RYHPEHUZLWK 5HJLVWUDU WR WKH7UDQFKH ,, ,VVXH ZLWK D FRS\ WR WKH UHOHYDQW 6&6% WKHQDPH³0XWKRRW)LQDQFH/LPLWHG´DQGUHFHLYHGDIUHVKFHUWL¿FDWH giving full details such as name, address of Applicant, Application RILQFRUSRUDWLRQFRQVHTXHQWWRFKDQJHLQVWDWXVRQ'HFHPEHU )RUP QXPEHU QXPEHU RI 1&'V DSSOLHG IRU DPRXQW EORFNHG RQ from the Registrar of Companies, Kerala and Lakshadweep. Muthoot $SSOLFDWLRQDQGWKH'HVLJQDWHG%UDQFKRUWKHFROOHFWLRQFHQWUHRIWKH Fin Corp Limited is neither a related company nor is a company 6&6%ZKHUHWKH$SSOLFDWLRQ)RUPZDVVXEPLWWHGE\WKH$SSOLFDQW under the same management within the meaning of the Companies $OOJULHYDQFHVDULVLQJRXWRI$SSOLFDWLRQVIRUWKH1&'VPDGHWKURXJK Act, 1956*. For further details regarding the Promoters and the group WKH 2QOLQH 6WRFN ([FKDQJHV 0HFKDQLVP PD\ EH DGGUHVVHG GLUHFWO\ companies please refer to “ Our Promoters ” at page 133 of the Shelf WRWKHUHVSHFWLYH6WRFN([FKDQJHV 3URVSHFWXVDQG3DJHRIWKH7UDQFKH,,3URVSHFWXV )RUIXUWKHUGHWDLOVSOHDVHUHIHUWRFKDSWHUWLWOHG³*HQHUDO,QIRUPDWLRQ´ 'LVFORVXUH PDGH LQ DFFRUGDQFH ZLWK OHWWHU IURP 6(%, EHDULQJ QR on page 11 of the Tranche II Prospectus. ,0''2)%09$2:GDWHG2FWREHU

MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

CAPITAL STRUCTURE Enterprises Private Limited with our Company. For further details regarding the scheme of arrangement and amalgamation, see “History Details of share capital DQG0DLQ2EMHFWV´RQSDJH of the Shelf Prospectus. 7KHVKDUHFDSLWDORIRXU&RPSDQ\DVRI0DUFK is set forth Notes to capital structure below: 1. Share capital history of the Company Amount in ` D (TXLW\6KDUHFDSLWDOKLVWRU\RIWKH&RPSDQ\DVRI0DUFK A Authorised share capital Date of allotment No. of Equity Face Tranche Nature of Reasons for allotment Cumulative Cumulative (TXLW\6KDUHVRI ` HDFK Shares value ( `) II Issue consideration no. of Equity paid-up share Cumulative share 5HGHHPDEOH 3UHIHUHQFH 6KDUHV RI price ( `) Shares capital ( `) premium ( `) March 14, 1997 Cash Subscription to the - `HDFK Memorandum(1) TOTAL 0DUFK Cash 3UHIHUHQWLDO$OORWPHQW - B Tranche II Issued, subscribed and paid-up 0DUFK Cash Preferential Allotment(3) 0DUFK - Consideration Allotment pursuant share capital other than to scheme of ` cash, pursuant amalgamation.(4) (TXLW\6KDUHVRI HDFK to scheme of C Securities Premium Account amalgamation 7KLV 7UDQFKH ,, ,VVXH ZLOO QRW UHVXOW LQ DQ\ FKDQJH RI WKH SDLG XS 2FWREHU Cash Preferential Allotment(5) )HEUXDU\ Cash Preferential Allotment(6) capital and securities premium account of the Company. -XO\ Cash Preferential Allotment(7) Changes in the authorised capital of our Company as of 2FWREHU - N.A. %RQXVLVVXHLQWKH UDWLR March 31, 2019 'HFHPEHU Cash Preferential Allotment(9) Details of increase in authorised share capital since incorporation $XJXVW - N.A. %RQXVLVVXHLQWKHUDWLR S.No. Particulars of increase Date of Shareholders’ AGM/EGM -XO\ Cash Preferential allotment WR0DWUL[3DUWQHUV meeting ,QGLD,QYHVWPHQWV//& SXUVXDQWWRWKH0DWUL[ 1. ,QFUHDVHLQDXWKRULVHGVKDUHFDSLWDOIURP 1RYHPEHU (*0 ,QYHVWPHQW$JUHHPHQW -XO\ Cash Preferential allotment ` GLYLGHG LQWR WR%DULQJ,QGLD3ULYDWH equity shares of ` (TXLW\)XQG,,,/LPLWHG HDFK WR SXUVXDQWWRWKH%DULQJ ` GLYLGHGLQWR ,QYHVWPHQW$JUHHPHQW equity shares of ` HDFK 6HSWHPEHU Cash Preferential allotment WR.RWDN,QGLD3ULYDWH ,QFUHDVHLQDXWKRULVHGVKDUHFDSLWDOIURP $XJXVW C o u r t (TXLW\)XQGSXUVXDQW `GLYLGHGLQWR c o n v e n e d WRWKH.RWDN,QYHVWPHQW Agreement. ` equity shares of HDFK WR general 6HSWHPEHU Cash Preferential allotment `GLYLGHGLQWR meeting WR.RWDN,QYHVWPHQW Advisors Limited equity shares of `HDFK pursuant to the Kotak 3. ,QFUHDVH LQ DXWKRULVHG VKDUH FDSLWDO 6HSWHPEHU $*0 ,QYHVWPHQW$JUHHPHQW from ` GLYLGHG LQWR 6HSWHPEHU Cash Preferential allotment WR0DWUL[3DUWQHUV HTXLW\ VKDUHV RI ` ,QGLD,QYHVWPHQWV//& each to ` SXUVXDQWWRWKH0DWUL[ GLYLGHG LQWR ,QYHVWPHQW$JUHHPHQW HTXLW\ VKDUHV RI ` 6HSWHPEHU Cash Preferential allotment each. to The Wellcome Trust Limited (as trustee of 4. ,QFUHDVH LQ DXWKRULVHG VKDUH FDSLWDO $XJXVW (*0 The Wellcome Trust, from ` GLYLGHG LQWR 8QLWHG.LQJGRP pursuant to the Wellcome HTXLW\ VKDUHV RI ` ,QYHVWPHQW$JUHHPHQW each to ` GLYLGHG 0D\ Cash Allotment pursuant to initial public offering LQWR HTXLW\ VKDUHV RI $SULO Cash Allotment pursuant to `HDFK ,QVWLWXWLRQDO3ODFHPHQW 5. ,QFUHDVH LQ DXWKRULVHG VKDUH FDSLWDO 6HSWHPEHU (*0 Programme -DQXDU\ Cash Allotment pursuant to 14,471,966,693.96 from ` GLYLGHG LQWR (6236FKHPH HTXLW\ VKDUHV RI ` -DQXDU\ 4,85,181 Cash Allotment pursuant to each to ` GLYLGHG (6236FKHPH 0DUFK Cash Allotment pursuant to 397,881,371 LQWR HTXLW\ VKDUHV RI (6236FKHPH `HDFK 0DUFK Cash Allotment pursuant to 397,966,419 6. ,QFUHDVH LQ DXWKRULVHG VKDUH FDSLWDO 0DUFK (*0 (6236FKHPH -XQH Cash Allotment pursuant to from ` GLYLGHG LQWR (6236FKHPH HTXLW\ VKDUHV RI ` -XQH Cash Allotment pursuant to each to ` GLYLGHG (6236FKHPH September 15, 9,394 Cash Allotment pursuant to LQWR HTXLW\ VKDUHV RI (6236FKHPH `HDFKDQGUHGHHPDEOH September 15, Cash Allotment pursuant to preference shares of ` (6236FKHPH HDFK 0DUFK Cash Allotment pursuant to *This increase in authorised share capital was pursuant to the order (6236FKHPH 0DUFK Cash Allotment pursuant to RI WKH +LJK &RXUW RI .HUDOD (UQDNXODP GDWHG -DQXDU\ (6236FKHPH approving the scheme of arrangement and amalgamation of Muthoot

MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

Date of allotment No. of Equity Face Tranche Nature of Reasons for allotment Cumulative Cumulative (22 *HRUJH -DFRE 0XWKRRW $QQD $OH[DQGHU Shares value ( `) II Issue consideration no. of Equity paid-up share Cumulative share price ( `) Shares capital ( `) premium ( `) *HRUJLH .XULHQ 6DUD *HRUJH 6XVDQ -XQH Cash Allotment pursuant to 7KRPDV (OL]DEHWK -DFRE *HRUJH 0 *HRUJH (6236FKHPH 3DXO 0 *HRUJH $OH[DQGHU 0 *HRUJH -XQH Cash Allotment pursuant to (6236FKHPH *HRUJH0-DFRE DQG*HRUJH0$OH[DQGHU 'HFHPEHU Cash Allotment pursuant to 6. Allotment of Equity Shares to George Alexander Muthoot. (6236FKHPH 'HFHPEHU Cash Allotment pursuant to 39,94,55,739 14,717,877,388.66 7. $OORWPHQWRI(TXLW\6KDUHVWR0**HRUJH0XWKRRW (6236FKHPH *HRUJH$OH[DQGHU0XWKRRW *HRUJH7KRPDV0XWKRRW 0DUFK Cash Allotment pursuant to 399,475,549 (6236FKHPH *HRUJH -DFRE 0XWKRRW $QQD $OH[DQGHU 0D\ Cash Allotment pursuant to 6DUD*HRUJH 6XVDQ7KRPDV (OL]DEHWK (6236FKHPH -DFRE *HRUJH 0 *HRUJH 3DXO 0 *HRUJH Cash Allotment pursuant to 0D\ $OH[DQGHU 0 *HRUJH *HRUJH 0 -DFRE (6236FKHPH 4,113 Cash Allotment pursuant to *HRUJH 0 $OH[DQGHU DQG (DSHQ $OH[DQGHU $XJXVW (6236FKHPH $XJXVW Cash Allotment pursuant to 399,566,689 (6236FKHPH 8. $OORWPHQWRI(TXLW\6KDUHVWR0**HRUJH0XWKRRW 'HFHPEHU Cash Allotment pursuant to *HRUJH$OH[DQGHU0XWKRRW *HRUJH7KRPDV0XWKRRW (6236FKHPH *HRUJH-DFRE0XWKRRW $QQD$OH[DQGHU Cash Allotment pursuant to 399,913,914 'HFHPEHU (6236FKHPH 6DUD*HRUJH 6XVDQ7KRPDV Cash Allotment pursuant to 399917139 (OL]DEHWK-DFRE *HRUJH0*HRUJH 3DXO 0DUFK (6236FKHPH 0 *HRUJH $OH[DQGHU 0 *HRUJH *HRUJH 0DUFK Cash Allotment pursuant to (6236FKHPH 0 -DFRE *HRUJH 0 $OH[DQGHU (DSHQ Cash Allotment pursuant to $OH[DQGHU 6XVDQ.XULHQ 5HVKPD6XVDQ-DFRE 0D\ (6236FKHPH $QQD7KRPDV 9DOVD.XULHQ DQG*HRUJLH Cash Allotment pursuant to 0D\ (6236FKHPH .XULHQ September 19, Cash Allotment pursuant to 9. $OORWPHQWRI(TXLW\6KDUHVWR0**HRUJH0XWKRRW (6236FKHPH *HRUJH$OH[DQGHU0XWKRRW *HRUJH7KRPDV0XWKRRW September 19, Cash Allotment pursuant to (6236FKHPH *HRUJH -DFRE 0XWKRRW $QQD $OH[DQGHU Cash Allotment pursuant to 'HFHPEHU 6DUD*HRUJH 6XVDQ7KRPDV (OL]DEHWK (6236FKHPH -DFRE *HRUJH 0 *HRUJH 3DXO 0 *HRUJH 'HFHPEHU 369,385 Cash Allotment pursuant to (6236FKHPH $OH[DQGHU 0 *HRUJH *HRUJH 0 -DFRE )HEUXDU\ Cash Allotment pursuant to *HRUJH 0 $OH[DQGHU DQG (DSHQ $OH[DQGHU (6236FKHPH 0DUFK Cash Allotment pursuant to (6236FKHPH $OORWPHQWRI(TXLW\6KDUHVWR0**HRUJH0XWKRRW 1. At the time of incorporation, upon subscription to the *HRUJH $OH[DQGHU 0XWKRRW *HRUJH 7KRPDV 0HPRUDQGXPDOORWPHQWRI(TXLW\6KDUHVWRHDFKRI0* 0XWKRRW *HRUJH -DFRE 0XWKRRW George Muthoot, George Thomas Muthoot, George Jacob Muthoot $QQD$OH[DQGHU 6DUD*HRUJH 6XVDQ and George Alexander Muthoot. 7KRPDV (OL]DEHWK-DFRE *HRUJH0 *HRUJH 3DXO0*HRUJH $OH[DQGHU0 $OORWPHQW RI (TXLW\ 6KDUHV WR HDFK RI 0* *HRUJH *HRUJH *HRUJH0-DFRE *HRUJH0 Muthoot, George Thomas Muthoot, George Jacob Muthoot and $OH[DQGHU (DSHQ$OH[DQGHU George Alexander Muthoot. 11. Equity Shares issued for consideration other than cash 3. $OORWPHQWRI(TXLW\6KDUHVWR0**HRUJH0XWKRRW *HRUJH 7KRPDV 0XWKRRW *HRUJH -DFRE 0XWKRRW Date of No. of Tranche Reasons for %HQH¿WV *HRUJH$OH[DQGHU0XWKRRW *HRUJLH.XULHQ allotment Equity II Issue allotment accruing to 9DOVD.XULHQ 6DUD*HRUJH 6XVDQ Shares price ( `) the Company 7KRPDV (OL]DEHWK-DFRE DQG$QQD$OH[DQGHU March - Pursuant to Allotment scheme of pursuant to 4. $OORWPHQW RI (TXLW\ 6KDUHV WR 0* *HRUJH 0XWKRRW amalgamation scheme of *HRUJH7KRPDV0XWKRRW *HRUJH$OH[DQGHU0XWKRRW amalgamation. 6XVDQ 7KRPDV *HRUJH -DFRE 0XWKRRW TOTAL (OL]DEHWK -DFRE $QQD $OH[DQGHU $OORWPHQW RI (TXLW\ 6KDUHV WR 0* *HRUJH 0XWKRRW Paul M. George (33), George M. George (33) and George M. *HRUJH7KRPDV0XWKRRW *HRUJH$OH[DQGHU0XWKRRW Alexander (33) pursuant to order of the High Court of Kerala, 6XVDQ 7KRPDV *HRUJH -DFRE 0XWKRRW (UQDNXODP GDWHG -DQXDU\ DSSURYLQJ WKH VFKHPH RI (OL]DEHWK -DFRE $QQD $OH[DQGHU arrangement and amalgamation of Muthoot Enterprises Private Paul M. George (33), George M. George (33) and George M. Limited with the Company whereby every shareholder of Muthoot Alexander (33) pursuant to order of the High Court of Kerala, Enterprises Private Limited is entitled to shares of the Company (UQDNXODP GDWHG -DQXDU\ DSSURYLQJ WKH VFKHPH RI in the ratio of 3:1. For further details regarding the scheme of arrangement and amalgamation of Muthoot Enterprises Private DUUDQJHPHQWDQGDPDOJDPDWLRQVHH³+LVWRU\DQG0DLQ2EMHFWV´ Limited with the Company whereby every shareholder of Muthoot RQSDJH of the Shelf Prospectus. Enterprises Private Limited is entitled to shares of the Company in the ratio of 3:1. For further details regarding the scheme of 5. $OORWPHQWRI(TXLW\6KDUHVWR0**HRUJH0XWKRRW DUUDQJHPHQWDQGDPDOJDPDWLRQVHH³+LVWRU\DQG0DLQ2EMHFWV´ *HRUJH$OH[DQGHU0XWKRRW *HRUJH7KRPDV0XWKRRW RQSDJH of the Shelf Prospectus.

MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

13. Cumulative share premium have been adjusted for impact of The debt-equ LW\ UDWLR SRVW WKH 7UDQFKH ,, ,VVXH LV LQGLFDWLYH DQG LV ,1'$6LPSOHPHQWDWLRQIRUDOORWPHQWVIURP$SULO on account of total outstanding debt and shareholders funds as on The Company has not issued any equity shares for consideration 'HFHPEHU DQG DQ DVVXPHG LQÀRZ RI ` PLOOLRQ RWKHUWKDQFDVKLQWKHWZR¿QDQFLDO\HDUVLPPHGLDWHO\SUHFHGLQJ from the issue as mentioned in the Shelf prospectus and does not WKHGDWHRIWKH7UDQFKH,,3URVSHFWXV include contingent and off-balance sheet liabilities. The Company had For details of the Shareholding Pattern of our Company as on March recently raised `PLOOLRQYLDWKH7UDQFKH3URVSHFWXV'DWHG 31, 2019, kindly refer page 29 of the Tranche II Prospectus. )HEUXDU\ DQG WKH &RPSDQ\ LQWHQGV WR UDLVH ` 2XU WRS WHQ HTXLW\ VKDUHKROGHUV DQG WKH QXPEHU RI (TXLW\ PLOOLRQ YLD 7UDQFKH 3URVSHFWXV 7KH DFWXDO GHEWHTXLW\ UDWLR SRVW 6KDUHVKHOGE\WKHPDVRQ0DUFKLVDVIROORZV WKH 7UDQFKH ,, ,VVXH ZRXOG GHSHQG XSRQ WKH DFWXDO SRVLWLRQ RI GHEW S. No. Name No. of Equity No. of Equity As % of total and equity on the date of allotment. Shares (face value Shares in demat number of of ` 10 each) form shares 7UDQFKH,,,VVXHDPRXQWRI `PLOOLRQLVFODVVL¿HGXQGHU 1. 0**HRUJH0XWKRRW 11.6187% 'HEW6HFXULWLHV *HRUJH$OH[DQGHU0XWKRRW 3. *HRUJH-DFRE0XWKRRW 5. The aggregate number of securities of the Company that have 4. *HRUJH7KRPDV0XWKRRW EHHQ SXUFKDVHG RU VROG E\ WKH 3URPRWHU *URXS 'LUHFWRUV RI 5. Susan Thomas 7.4839% the Company and their relatives within 6 months immediately 6. *HRUJH0-DFRE 3.7563% 7. (OL]DEHWK-DFRE SUHFHGLQJWKHGDWHRIWKH7UDQFKH,,3URVSHFWXVLVDVEHORZ 8. $QQD$OH[DQGHU 9. 6DUD*HRUJH 13,519,336 13,519,336 3.3743% Particulars No of Amount (DSHQ$OH[DQGHU 1.8781% securities (in ` million) TOTAL 273,393,872 273,393,872 68.2356% %\ 3URPRWHU1XPEHU RI QRQFRQYHUWLEOH 3. 7KH OLVW RI WRS WHQ GHEHQWXUH KROGHUV DV RQ 0DUFK debentures sold LVDVIROORZV %\ 3URPRWHU1XPEHU RI QRQFRQYHUWLEOH Aggregate amount S. No. Name of holder debentures purchased (in ` million) 1 Reliance Capital Trustee Co Ltd ,WLVFODUL¿HGWKDWQRRWKHUVHFXULWLHVLQFOXGLQJVKDUHVRIWKH&RPSDQ\ 6%,0XWXDO)XQG 8714.73 ZHUHHLWKHUSXUFKDVHGRUVROGE\WKH3URPRWHU*URXS'LUHFWRUVRIWKH 3 ,&,&,SUXGHQWLDOPXWXDOIXQG Company and their relatives within 6 months immediately preceding 4 +')&7UXVWHH&RPSDQ\/WG WKHGDWHRIWKH7UDQFKH,,3URVSHFWXV 5 Kotak Mahindra Trustee Co. Ltd. 6 '63&UHGLW5LVN)XQG :H FRQ¿UP WKDW QR VHFXULWLHV RI RXU 6XEVLGLDU\ KDYH EHHQ 7 $UP\*URXS,QVXUDQFH)XQG SXUFKDVHG RU VROG E\ WKH 3URPRWHU *URXS 'LUHFWRUV RI WKH 8 $[LV0XWXDO)XQG7UXVWHH/LPLWHG Company and their relatives within 6 months immediately ,QGLDQ 2LO &RUSRUDWLRQ /WG 5H¿QHULHV 'LYLVLRQ (PSOR\HHV 9 Provident Fund SUHFHGLQJWKHGDWHRIWKH7UDQFKH,,3URVSHFWXV ,QGLDQ%DQN 7. (6236FKHPH *on cumulative basis 7KH VKDUHKROGHUV¶ RI WKH &RPSDQ\ LQ WKHLU PHHWLQJ GDWHG 4. Debt to equity ratio 6HSWHPEHU KDYH JLYHQ WKHLU DSSURYDO IRU LVVXDQFH RI 7KHGHEWWRHTXLW\UDWLRSULRUWRWKLV7UDQFKH,,,VVXHLVEDVHGRQ employee stock options. Pursuant to the aforesaid approval, the a total outstanding debt of ` PLOOLRQDQGVKDUHKROGHU %RDUG ZKLFKLQFOXGHVGXO\DXWKRULVHGFRPPLWWHHE\WKH%RDUG funds amounting to `PLOOLRQDVRQ'HFHPEHU 7KH GHEW HTXLW\ UDWLR SRVW WKH 7UDQFKH ,, ,VVXH DVVXPLQJ KDVDSSURYHGWKHµ0XWKRRW(623¶VFKHPH7KH&RPSDQ\ VXEVFULSWLRQ RI 1&'V DJJUHJDWLQJ WR ` PLOOLRQ ZRXOG KDVREWDLQHGLQSULQFLSDODSSURYDORIWKHVWRFNH[FKDQJHVZKHUH be 3.14 times, based on a total outstanding debt of ` WKHVKDUHFDSLWDORIWKH&RPSDQ\LVOLVWHGLH%6(DQG16(IRU million and shareholders funds of ` PLOOLRQ DV RQ OLVWLQJ XSWR HTXLW\ VKDUHV RI IDFH YDOXH RI 5V 'HFHPEHU HDFK RQ H[HUFLVH RI WKH HPSOR\HH VWRFN RSWLRQV E\ WKH HOLJLEOH (in `PLOOLRQ employees from time to time who are in receipt of grants made Particulars Prior to the Post the E\WKH%RDUG Tranche II Issue Tranche II For further details please refer to chapter titled “Capital (as of December 31, Issue# 6WUXFWXUH´RQSDJHRIWKH7UDQFKH,,3URVSHFWXV 2018) 'HEW6HFXULWLHV %RUURZLQJV RWKHUWKDQGHEWVHFXULWLHV 167,364.74 167,364.74 Subordinated Liabilities Total Debt 251,095.35 291,095.35 Equity (TXLW\6KDUH&DSLWDO 2WKHU(TXLW\ 88,776.45 88,776.45 Total Shareholders’ Funds 92,782.28 92,782.28 Debt Equity Ratio (No. of Times)# 3.14

MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

OUR MANAGEMENT Board of Directors 7KHJHQHUDOVXSHULQWHQGHQFHGLUHFWLRQDQGPDQDJHPHQWRIRXUDIIDLUVDQGEXVLQHVVDUHYHVWHGLQRXU%RDUGRI'LUHFWRUV:HKDYHQRWDSSRLQWHGDQ\µPDQDJHU¶ ZLWKLQWKHPHDQLQJWKHUHRIXQGHUWKHSURYLVLRQVRIWKH$FWDQGWKHUHOHYDQWSURYLVLRQVRIWKH&RPSDQLHV$FW 8QGHU WKH$UWLFOHV RI$VVRFLDWLRQ ZH DUH UHTXLUHG WR KDYH QRW OHVV WKDQ WKUHH 'LUHFWRUV DQG QRW PRUH WKDQ 'LUHFWRUV:H FXUUHQWO\ KDYH 'LUHFWRUV RQ WKH%RDUGRXWRIZKLFK'LUHFWRUVLHPRUHWKDQRIWKHWRWDOVWUHQJWKRI'LUHFWRUVDUHLQGHSHQGHQWGLUHFWRUV Details relating to Directors Name, Designation, Age Nationality Date of Address Other Directorships and DIN Appointment 0**HRUJH0XWKRRW ,QGLDQ $SULO 0XWKRRW+RXVH 0*00XWKRRW0HGLFDO&HQWUH3ULYDWH/LPLWHG $JH\HDUV *(DVWRI.DLODVK 0XWKRRW)DUPV,QGLD3ULYDWH/LPLWHG :KROH7LPH 'LUHFWRU DQG 1HZ'HOKL 0XWKRRW%URDGFDVWLQJ3ULYDWH/LPLWHG Chairman (PJHH%RDUGDQG3DSHU0LOOV3ULYDWH/LPLWHG 'LUHFWRU ,GHQWLILFDWLRQ 0XWKRRW0*HRUJH&KLWV,QGLD/LPLWHG 1XPEHU 0DUDUL%HDFK5HVRUWV3ULYDWH/LPLWHG 7. Muthoot Securities Limited 8. Muthoot Commodities Limited 0XWKRRW0*HRUJH,QVWLWXWHRI7HFKQRORJ\ 0XWKRRW+RPH¿Q ,QGLD /LPLWHG 0XWKRRW+HDOWK&DUH3ULYDWH/LPLWHG 0XWKRRW6\QHUJ\)XQG/LPLWHG 0XWKRRW$QFKRU+RXVH+RWHOV3ULYDWH/LPLWHG *HREURV3URSHUWLHVDQG5HDOWRUV3ULYDWH/LPLWHG 15. Adams Properties Private Limited 0XWKRRW,QIRSDUN3ULYDWH/LPLWHG 0XWKRRW0*HRUJH5HDO(VWDWH3ULYDWH/LPLWHG *HRUJH7KRPDV0XWKRRW ,QGLDQ $SULO 0XWKRRW+RXVH 0XWKRRW/HLVXUHDQG+RVSLWDOLW\6HUYLFHV3ULYDWH/LPLWHG $JH\HDUV +RXVH 1R $ 0LVV (DVW 0*00XWKRRW0HGLFDO&HQWUH3ULYDWH/LPLWHG :KROH7LPH'LUHFWRU /DQH%DNHU-XQFWLRQ.RWWD\DP 0XWKRRW+ROLGD\+RPHVDQG5HVRUWV3ULYDWH/LPLWHG 'LUHFWRU ,GHQWLILFDWLRQ .HUDOD 0XWKRRW9HKLFOH $VVHW)LQDQFH/LPLWHG 1XPEHU 0XWKRRW%URDGFDVWLQJ3ULYDWH/LPLWHG 0XWKRRW0*HRUJH&KLWV,QGLD/LPLWHG 0DUDUL%HDFK5HVRUWV3ULYDWH/LPLWHG 8. Adams Properties Private Limited 0XWKRRW0*HRUJH,QVWLWXWHRI7HFKQRORJ\ 0XWKRRW+RPH¿Q ,QGLD /LPLWHG 0XWKRRW$QFKRU+RXVH+RWHOV3ULYDWH/LPLWHG *HREURV3URSHUWLHVDQG5HDOWRUV3ULYDWH/LPLWHG 13. Muthoot Synergy Fund Limited 0XWKRRW+HDOWK&DUH3ULYDWH/LPLWHG 0XWKRRW,QIRSDUN3ULYDWH/LPLWHG 0XWKRRW0*HRUJH5HDO(VWDWH3ULYDWH/LPLWHG *HRUJH-DFRE0XWKRRW ,QGLDQ $SULO 0XWKRRW+RXVH 0XWKRRW/HLVXUHDQG+RVSLWDOLW\6HUYLFHV3ULYDWH/LPLWHG $JH\HDUV +RXVH1R7& 0XWKRRW,QIRSDUN3ULYDWH/LPLWHG :KROH7LPH'LUHFWRU Marappalam, Pattom P. O. 0XWKRRW,QVXUDQFH%URNHUV3ULYDWH/LPLWHG 'LUHFWRU¶V ,GHQWLILFDWLRQ Thiruvananthapuram 0XWKRRW)RUH[/LPLWHG 1XPEHU .HUDOD 0*00XWKRRW0HGLFDO&HQWUH3ULYDWH/LPLWHG 6. Muthoot Marketing Services Private Limited 0XWKRRW%URDGFDVWLQJ3ULYDWH/LPLWHG 0DUDUL%HDFK5HVRUWV3ULYDWH/LPLWHG 0XWKRRW'HYHORSHUV3ULYDWH/LPLWHG 0XWKRRW6HFXULWLHV/LPLWHG 11. Muthoot Commodities Limited $GDPV3URSHUWLHV3ULYDWH/LPLWHG 2[ERZ3URSHUWLHV3ULYDWH/LPLWHG 0XWKRRW0*HRUJH,QVWLWXWHRI7HFKQRORJ\ 0XWKRRW$QFKRU+RXVH+RWHOV3ULYDWH/LPLWHG *HREURV3URSHUWLHVDQG5HDOWRUV3ULYDWH/LPLWHG 0XWKRRW+HDOWK&DUH3ULYDWH/LPLWHG 0XWKRRW*OREDO0RQH\7UDQVIHUV3ULYDWH/LPLWHG 0XWKRRW0*HRUJH5HDO(VWDWH3ULYDWH/LPLWHG 0XWKRRW0RQH\3ULYDWH/LPLWHG

MUTHOOT FINANCE LIMITED 31 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

Name, Designation, Age Nationality Date of Address Other Directorships and DIN Appointment *HRUJH$OH[DQGHU ,QGLDQ $SULO 0XWKRRW+RXVH 0XWKRRW,QIRSDUN3ULYDWH/LPLWHG Muthoot * 3DQDPSLOO\ 1DJDU 0XWKRRW)RUH[/LPLWHG $JH\HDUV (UQDNXODP 0*00XWKRRW0HGLFDO&HQWUH3ULYDWH/LPLWHG 0DQDJLQJ'LUHFWRU .HUDOD 0XWKRRW,QVXUDQFH%URNHUV3ULYDWH/LPLWHG 'LUHFWRU ,GHQWLILFDWLRQ 0XWKRRW9HKLFOH $VVHW)LQDQFH/LPLWHG 1XPEHU 0XWKRRW%URDGFDVWLQJ3ULYDWH/LPLWHG 0DUDUL%HDFK5HVRUWV3ULYDWH/LPLWHG 8. Adams Properties Private Limited 9. Muthoot Securities Limited 0XWKRRW&RPPRGLWLHV/LPLWHG 11. Muthoot Marketing Services Private Limited 0XWKRRW0*HRUJH,QVWLWXWHRI7HFKQRORJ\ 0XWKRRW+RPH¿Q ,QGLD /LPLWHG 0XWKRRW$QFKRU+RXVH+RWHOV3ULYDWH/LPLWHG 0XWKRRW+HDOWK&DUH3ULYDWH/LPLWHG *HREURV3URSHUWLHVDQG5HDOWRUV3ULYDWH/LPLWHG 0XWKRRW0*HRUJH5HDO(VWDWH3ULYDWH/LPLWHG .*HRUJH-RKQ ,QGLDQ 6HSWHPEHU +RXVH 1R & .DULDWK 1. Munnar Ridgetree Residencies Private Limited $JH\HDUV 9DOLDNXODP 5RDG (GDNRFKL 0XWKRRW+RPH¿Q ,QGLD /LPLWHG ,QGHSHQGHQW'LUHFWRU (UQDNXODP± 'LUHFWRU¶V ,GHQWLILFDWLRQ 1XPEHU -RVH0DWKHZ ,QGLDQ 6HSWHPEHU 9DGDNNHNDODP *UHHQ 9LOOD *UHHQ6KRUH+ROLGD\VDQG5HVRUWV3ULYDWH/LPLWHG $JH\HDUV &KDPEHU 5RDG %D]DU 3 2 0XWKRRW9HKLFOH $VVHW)LQDQFH/LPLWHG ,QGHSHQGHQW'LUHFWRU $ODSSX]KD 'LUHFWRU¶V ,GHQWLILFDWLRQ 1XPEHU -RKQ.3DXO ,QGLDQ -XO\ .XWWXNDUDQ+RXVH 3RSXODU9HKLFOHVDQG6HUYLFHV/LPLWHG $JH\HDUV 6W%HQHGLFW5RDG(UQDNXODP .XWWXNDUDQ&DUV3ULYDWH/LPLWHG ,QGHSHQGHQW'LUHFWRU .HUDOD 3RSXODU$XWR'HDOHUV3ULYDWH/LPLWHG 'LUHFWRU ,GHQWLILFDWLRQ 4. Popular Auto Spares Private Limited 1XPEHU 5. Popular Autoworks Private Limited )HGHUDWLRQRI$XWRPRELOH'HDOHUV$VVRFLDWLRQV7IU)URP0XPEDLWR 'HOKL .HUDFRQ(TXLSPHQWV3ULYDWH/LPLWHG 8. Prabal Motors Private Limited )RXQGDWLRQIRU(QWUHSUHQHXULDO'HYHORSPHQW .HUDOD .XWWXNDUDQ3UH2ZQHG&DUV3ULYDWH/LPLWHG *HRUJH-RVHSK ,QGLDQ -XO\ 0HOD]KDNDWK $UDNNXODP ,GXNNL :RQGHUOD+ROLGD\V/LPLWHG $JH\HDUV district &UHGLW$FFHVV*UDPHHQ/LPLWHG ,QGHSHQGHQW'LUHFWRU Kerala 685 591 (6$)6PDOO)LQDQFH%DQN/LPLWHG 'LUHFWRU ,GHQWLILFDWLRQ 4. Muthoot Asset Management Private Limited 1XPEHU $OH[DQGHU*HRUJH ,QGLDQ 1RYHPEHU 0XWKRRW+RXVH 1HUXU5XEEHU 3ODQWDWLRQV3ULYDWH/LPLWHG $JH\HDUV *(DVWRI.DLODVK 7DUNDOL5XEEHU 3ODQWDWLRQV3ULYDWH/LPLWHG :KROHWLPH'LUHFWRU 1HZ'HOKL 3. Patgaon Plantations Private Limited 'LUHFWRU ,GHQWLILFDWLRQ 4. Muthoot Systems and Technologies Private Limited 1XPEHU 8QLVRP5XEEHUDQG3ODQWDWLRQV3ULYDWH/LPLWHG 0XWKRRW0*HRUJH3HUPDQHQW)XQG/WG *HR%URV0XWKRRW)XQGV,QGLD/LPLWHG 0XWKRRW,QVXUDQFH%URNHUV3ULYDWH/LPLWHG 0XWKRRW+ROLGD\V3ULYDWH/LPLWHG 0XWKRRW+RPH¿Q ,QGLD /LPLWHG 11. Muthoot Securities Limited 0XWKRRW$VVHW0DQDJHPHQW3ULYDWH/LPLWHG 3DPHOD$QQD0DWKHZ ,QGLDQ 1RYHPEHU 2(1 +RXVH 7ULSXQLWXUD 5RDG 2(1,QGLD/WG $JH\HDUV 9\WLOOD *717H[WLOHV/LPLWHG ,QGHSHQGHQW'LUHFWRU 3DWVSLQ,QGLD/WG 'LUHFWRU ,GHQWLILFDWLRQ *HRPDWKV6WRFNVDQG6KDUHV7UDGLQJ3ULYDWH/LPLWHG 1XPEHU -DFRE%HQMDPLQ.RVK\ ,QGLDQ 6HSWHPEHU $7KULSWKL/DQH6$5RDG Nil $JH\HDUV .RFKL 0* 5RDG (UQDNXODP ,QGHSHQGHQW'LUHFWRU 'LUHFWRU ,GHQWLILFDWLRQ 1XPEHU )RUIXUWKHUGHWDLOVSOHDVHUHIHUWRFKDSWHUWLWOHG³2XU0DQDJHPHQW´RQSDJHRIWKH6KHOI3URVSHFWXVDQG3DJHRIWKH7UDQFKH,,3URVSHFWXV

MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

FINANCIAL INFORMATION 1HW)L[HG$VVHWV $VXPPDU\RIRXUNH\RSHUDWLRQDODQG¿QDQFLDOSDUDPHWHUVDVDWDQGIRU Non-Current Assets 5,966.94 WKHQLQHPRQWKVHQGHG'HFHPEHUDUHDVIROORZV &DVKDQG%DQN%DODQFHV 4,867.93 6,789.43 (Rs in millions) &XUUHQW,QYHVWPHQWV Nine months ended Particulars 'HFHPEHU Current Assets (TXLW\ Current Liabilities 1,88,141.84 7RWDO%RUURZLQJVRIZKLFK /RDQ $VVHWV 8QGHU 0DQDJHPHQW 'HEWVHFXULWLHV *URVV/RDQ$VVHWV %RUURZLQJV RWKHUWKDQGHEWVHFXULWLHV 167,364.74 2II%DODQFH6KHHW$VVHWV Subordinated Liabilities 3URSHUW\3ODQWDQG(TXLSPHQW 1,868.44 ,QWHUHVW,QFRPH 56,538.87 2WKHU,QWDQJLEOHDVVHWV 63.31 ,QWHUHVW([SHQVH 19,399.33 Financial Assets Provisioning and Write offs Non- Financial Assets &DVKDQG&DVK(TXLYDOHQWV 11,331.66 PAT 6.98 %DQN%DODQFHVRWKHUWKDQFDVKDQGFDVK 331.49 *URVV13$ equivalents Net NPA (%)* 6.16 1.69 Financial Liabilities Non- Financial Liabilities 7LHU,&DSLWDO$GHTXDF\5DWLR Loan Assets 7LHU,,&DSLWDO$GHTXDF\5DWLR 1.84% 3.56% Loan Assets(Principal Amount) *URVV'HEW(TXLW\5DWLR ,QWHUHVW,QFRPH %HIRUHWKH,VVXH Finance Costs ,PSDLUPHQWRQ)LQDQFLDO,QVWUXPHQWV $IWHUWKH,VVXH 3UR¿W$IWHU7D[ RQ*URVV/RDQ$VVHWV % Stage 3 Loan Assets on Loan Assets(Principal 1.96% 7KHGHEWHTXLW\UDWLRSRVWWKH,VVXHLVLQGLFDWLYHDQGLVRQDFFRXQWRIDVVXPHG Amount) LQÀRZRI `PLOOLRQIURPWKH,VVXHDQGGRHVQRWLQFOXGHFRQWLQJHQW % Net Stage 3 Loan Assets on Loan 1.65% DQGRIIEDODQFHVKHHWOLDELOLWLHV7KHDFWXDOGHEWHTXLW\UDWLRSRVWWKH,VVXHZRXOG Assets(Principal Amount) depend upon the actual position of debt and equity on the date of allotment. &5$57LHU,&DSLWDO5DWLR $VXPPDU\RIWKHNH\RSHUDWLRQDODQG¿QDQFLDOSDUDPHWHUVIRUWKHODVWWKUHH &5$57LHU,,&DSLWDO5DWLR ¿QDQFLDO\HDUVRQDFRQVROLGDWHGEDVLVDUHDVXQGHU 'HEW(TXLW\5DWLRRIWKHFRPSDQ\ (Rs in million) %HIRUHWKHLVVXHRIGHEWVHFXULWLHVDVDW'HFHPEHU As at and for As at and for As at and for Particulars WKH¿QDQFLDO\HDU WKH¿QDQFLDO\HDU WKH¿QDQFLDO\HDU After the issue of debt securities* 3.14 ended March ended March ended March 7KHGHEWHTXLW\UDWLRSRVWWKH7UDQFKH,,,VVXHLVLQGLFDWLYHDQGLVRQDFFRXQW 31,2018 31,2017 31,2016 RI WRWDO RXWVWDQGLQJ GHEW DQG VKDUHKROGHUV IXQGV DV RQ 'HFHPEHU Networth DQG DQ DVVXPHG LQÀRZ RI ` PLOOLRQ IURP WKH LVVXH DV PHQWLRQHG 7RWDO'HEWRIZKLFK in the Shelf prospectus and does not include contingent and off-balance Non Current Maturities of Long Term sheet liabilities. The Company had recently raised ` 58,134.57 48,451.33 PLOOLRQYLDWKH %RUURZLQJV 7UDQFKH 3URVSHFWXV 'DWHG )HEUXDU\ DQG WKH &RPSDQ\ LQWHQGV WR raise ` PLOOLRQ YLD 7UDQFKH 3URVSHFWXV 7KH DFWXDO GHEWHTXLW\ 6KRUW7HUP%RUURZLQJV Current Maturities of Long Term UDWLRSRVWWKH7UDQFKH,,,VVXHZRXOGGHSHQGXSRQWKHDFWXDOSRVLWLRQRIGHEW 34,354.96 45,656.76 and equity on the date of allotment. %RUURZLQJV $VXPPDU\RIWKHNH\RSHUDWLRQDODQG¿QDQFLDOSDUDPHWHUVIRUWKHODVWWKUHH 1HW)L[HG$VVHW FRPSOHWHG¿QDQFLDO\HDUVRIWKH&RPSDQ\RQDVWDQGDORQHEDVLVDUHDVXQGHU Non Current Asset (Rs in million) &DVKDQG%DQN%DODQFHV 16,446.68 7,138.39 &XUUHQW,QYHVWPHQWV 343.87 Particulars Year Ended March 31 Current assets 2018 2017 2016 Current Liabilities Networth 65,164.41 Loan Assets under Management 7RWDO'HEWRI:KLFK 2II%DODQFH6KHHW$VVHWV Non-Current Maturities of Long 45,115.96 ,QWHUHVW,QFRPH 64,513.91 7HUP%RUURZLQJ ,QWHUHVW([SHQVH 6KRUW7HUP%RUURZLQJ 1,41,877.83 83,635.16 3URYLVLRQLQJ :ULWHRIIV PAT 11,997.85 Current Maturities of Long Term 39,993.67 %RUURZLQJ )RU IXUWKHU GHWDLOV ZLWK UHVSHFW WR WKH ¿QDQFLDO LQIRUPDWLRQ NLQGO\ UHIHU 8QSDLG0DWXUHG'HEHQWXUHV 739.4 ³$QQH[XUH $´ RI WKH 6KHOI 3URVSHFWXV DQG FKDSWHU WLWOHG ³ 2XU %XVLQHVV´ on Page 32 of the Tranche II Prospectus.

MUTHOOT FINANCE LIMITED 33 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

+,6725<$1'0$,12%-(&76 6XQLO .XPDU$QLO .XPDU DQG$MLW .XPDU WKH SHWLWLRQHUV KDYH ¿OHG D SHWLWLRQ 5&23 1R RI EHIRUH WKH .ROODP 5HQW &RQWUROOHU Brief background of our Company FXP'LVWULFW0XQVLIIXQGHUVHFWLRQ RIWKH.HUDOD%XLOGLQJV /HDVH Our Company was originally incorporated as a private limited company on and Rent Control) Act, 1965. The Company had entered into a lease March 14, 1997 with the name “The Muthoot Finance Private Limited” under DJUHHPHQWGDWHG-DQXDU\ZLWKWKHSHWLWLRQHUVWRUHQWWKHSURSHUW\ WKH&RPSDQLHV$FW6XEVHTXHQWO\E\IUHVKFHUWL¿FDWHRILQFRUSRUDWLRQ EHLQJURRP1R:DUG.ROODPIRUDSHULRGRI\HDUV7KH GDWHG 0D\ RXU QDPH ZDV FKDQJHG WR ³0XWKRRW )LQDQFH 3ULYDWH petitioners have instituted this petition for evicting the Company from Limited”. The Company was converted into a public limited company on WKHOHDVHGSUHPLVHV7KHPDWWHUZDVSRVWHGIRUKHDULQJRQ'HFHPEHU 1RYHPEHUZLWKWKHQDPH³0XWKRRW)LQDQFH/LPLWHG´DQGUHFHLYHG DQGWKHFRXUWKDGWUDQVIHUUHGWKHPDWWHUWRWKHPHGLDWLRQFHQWUHIRU D IUHVK FHUWL¿FDWH RI LQFRUSRUDWLRQ FRQVHTXHQW XSRQ FKDQJH LQ VWDWXV RQ VHWWOHPHQW DQG LW ZDV SRVWHG RQ$SULO IRU KHDULQJ 6LQFH WKH 'HFHPEHUIURPWKH52& mediation did not result in a settlement, the matter was sent back to the 2XU&RPSDQ\KDVREWDLQHGDFHUWL¿FDWHRIUHJLVWUDWLRQGDWHG'HFHPEHU court and an order was passed against the Company to evict the premises. EHDULQJUHJLVWUDWLRQQR1LVVXHGE\WKH5%,WRFDUU\RQWKHDFWLYLWLHV 7KH&RPSDQ\KDV¿OHGDQDSSHDODJDLQVWWKHRUGHUDORQJZLWKDQLQWHULP RI D QRQEDQNLQJ ¿QDQFLDO FRPSDQ\ ZLWKRXW DFFHSWLQJ SXEOLF GHSRVLWV XQGHU DSSOLFDWLRQ WR VWD\ WKH RUGHU RI WKH ORZHU FRXUW LQ 5&23 12 6HFWLRQ,$RIWKH5%,$FW until the disposal of the appeal, which has been admitted by the court and the court has issued a notice to the opposite party. The Company 5HJLVWHUHGRI¿FH nd KDVREWDLQHGDVWD\RUGHUIURPWKH+LJK&RXUWDJDLQVWWKHMXGJHPHQWRI 7KH UHJLVWHUHG RI¿FH RI RXU &RPSDQ\ LV ORFDWHG DW 0XWKRRW &KDPEHUV UHQWFRQWURODSSHOODWHFRXUW.ROODP5&$KDVEHHQ¿OHGEHIRUH )ORRU2SSRVLWH6DULWKD7KHDWUH&RPSOH[%DQHUML5RDG.RFKL,QGLD +LJK&RXUWDORQJZLWKDQ,$IRULQWHULPVWD\,$KDVEHHQDOORZHGDQG &KDQJHLQUHJLVWHUHGRI¿FHRIRXU&RPSDQ\ LQWHULPVWD\VKDOOVWDQGH[WHQGHGXQWLOIXUWKHURUGHUV $WWKHWLPHRILQFRUSRUDWLRQWKHUHJLVWHUHGRI¿FHRIWKHFRPSDQ\ZDVVLWXDWHG 9 .DUWKLN WKH SODLQWLII KDV ¿OHG D VXLW 26 1R RI EHIRUH DW6XSUHPR&RPSOH[7ROO-XQFWLRQ(GDSDOO\.RFKL:LWKHIIHFWIURP WKH'LVWULFW&RXUW7ULFK\DJDLQVW*9LMD\DNXPDU6*DQHVKDQDQG 1RYHPEHU WKH UHJLVWHUHG RI¿FH RI WKH &RPSDQ\ ZDV VKLIWHG WR LWV others, including the Company. The suit relates to the schedule property SUHVHQW UHJLVWHUHG RI¿FH DW 0XWKRRW &KDPEHUV nd Floor, Opposite Saritha in which the Company is a tenant. The plaintiff has alleged that he is 7KHDWUH &RPSOH[ %DQHUML 5RDG .RFKL ,QGLD IRU DGPLQLVWUDWLYH entitled to half of the schedule property and has sought a decree of convenience. SDUWLWLRQ DJDLQVW * 9LMD\DNXPDU DQG 6 *DQHVKDQ DQG D PDQGDWRU\ Promoters and group companies LQMXQFWLRQDJDLQVWWKHRWKHUGHIHQGDQWVGLUHFWLQJWKHPWRSD\UHQWWRWKH plaintiff in respect of his share of the schedule property. The Company Muthoot Fin Corp Limited is neither a related company nor is it a company under the same management within the meaning of the Companies Act, 1956 *. KDV ¿OHG DQ ,$ WR VHW DVLGH WKH ([ SDUWH RUGHU DQG WKH VDPH KDV EHHQ For further details regarding the Promoters and the group companies please DOORZHGDQGWKHFDVHKDVEHHQOLVWHGIRUHYLGHQFHRQ-XQH UHIHU WR ³2XU 3URPRWHUV´ DW SDJH RI WKH 6KHOI 3URVSHFWXV DQG SDJH 6 .DODYDWKL WKH SODLQWLII KDV ¿OHG D VXLW 26 1R RI GDWHG of the Tranche II Prospectus. 2FWREHU EHIRUH WKH &RXUW RI WKH 6XERUGLQDWH -XGJH 'LQGLJXO DJDLQVW %DODPPDO 6XMDWKD DQG RWKHUV LQFOXGLQJ WKH &RPSDQ\ 7KH 'LVFORVXUHPDGHLQDFFRUGDQFHZLWKOHWWHUIURP6(%,EHDULQJQR,0''2) suit relates to the schedule property in which the Company is a tenant. %09$2:GDWHG2FWREHU 7KHSODLQWLIIKDVDOOHJHGWKDWVKHLVHQWLWOHGWRRQH¿IWKRIWKHVFKHGXOH )RUIXUWKHUGHWDLOVSOHDVHUHIHUWRFKDSWHUWLWOHG³+LVWRU\DQG0DLQ2EMHFWV´ SURSHUW\ DQG KDV VRXJKW D GHFUHH GLUHFWLQJ %DODPPDO DQG 6XMDWKD WR RQSDJHRIWKH6KHOI3U ospectus. partition the property, failing which a commissioner should be appointed LEGAL AND OTHER INFORMATION to partition the schedule property. The plaintiff has also sought a decree directing the other defendants to deposit the rent amounts payable by PENDING PROCEEDINGS AND STATUTORY DEFAULTS WKHPLQWKHFRXUW$Q,$IRUDPHQGLQJWKHSODLQWKDVEHHQ¿OHGDQGLV As on the date of the Shelf Prospectus, there are no defaults in meeting statutory QXPEHUHGDVDQGVDPHLVSRVWHGWR GXHVLQVWLWXWLRQDOGXHVDQGWRZDUGVKROGHUVRILQVWUXPHQWOLNHGHEHQWXUHV¿[HG .DPDOMHHW6LQJK.XPDUWKHSODLQWLIIKDV¿OHGDVXLW QRRI deposits and arrears on cumulative preference shares, etc., by our Company or GDWHG$SULOEHIRUHWKH$GGLWLRQDO'LVWULFW-XGJH'HOKLDJDLQVW E\SXEOLFFRPSDQLHVSURPRWHGE\WKH3URPRWHUVDQGOLVWHGRQWKH%6(RU16( WKH &RPSDQ\ VHHNLQJ WKH DUUHDUV RI UHQW PHVQH SUR¿WV DQG FRVWV IRU alleged damage caused to the property by the Company amounting to 6DYHDVGLVFORVHGEHORZWKHUHDUHQRSHQGLQJSURFHHGLQJVSHUWDLQLQJWR ,15 7KH SODLQWLII LV WKH RZQHU RI SURSHUW\ WKDW ZDV OHDVHG WR D PDWWHUVOLNHO\WRDIIHFWRSHUDWLRQDQG¿QDQFHVRIRXU&RPSDQ\SURPRWHU the Company. The plaintiff claims that the lease was terminated as the director, subsidiaries, group companies, or any other person, whose Company stopped making rent payments, but the Company is still in outcome could have a material adverse effect on the Company, including possession of the property and substantial damage has been caused to the GLVSXWHGWD[OLDELOLWLHVDQGFRQWLQJHQWOLDELOLWLHVRIDQ\QDWXUHDQG property by the plaintiff. The Company in its reply, has contended that it E FULPLQDO SURVHFXWLRQ ODXQFKHG DJDLQVW RXU &RPSDQ\ DQG WKH 'LUHFWRUV terminated the tenancy vide a communication to the plaintiff dated May IRU DOOHJHG RIIHQFHV XQGHU WKH HQDFWPHQWV VSHFL¿HG LQ 3DUDJUDSK RI DQGFDOOHGXSRQWKHSODLQWLIIWRWDNHSRVVHVVLRQRIWKHSURSHUW\ 3DUW,RI6FKHGXOH9WRWKH&RPSDQLHV$FW ,W KDV VWDWHG WKDW WKH SURSHUW\ KDV EHHQ O\LQJ YDFDQW DQG ORFNHG VLQFH 0D\DVWKHSODLQWLIILVUHIXVLQJWRWDNHSRVVHVVLRQRIWKHVDPH Litigations against our Company ,WKDVDOVRVWDWHGWKDWWKHUHQWDPRXQWVWLOO0D\KDYHEHHQSDLG Civil cases in full and denied that any damage has been caused by the Company 6HOYLQ -D\DNXPDU WKH RZQHU RI WKH EUDQFK ORFDWHG DW 0XQQDU .HUDOD to the property. This matter was posted for hearing on November 15, KDG ¿OHG 5&23 VHHNLQJ HYLFWLRQ RI WKH &RPSDQ\ IURP KLV SUHPLVHV 7KH VXLW QR RI ZDV GHFUHHG DJDLQVW WKH &RPSDQ\7KH recovery of amounts towards damages and for use and occupation of the &RPSDQ\ KDV WKHUHIRUH ¿OHG DQ DSSHDO EHIRUH +LJK &RXUW EHLQJ 5)$ premises. The Company vacated the premises. Subsequently, the Company 5)$ DQG LW KDV EHHQ SRVWHG WR IRU production of documents. ¿OHGDVXLWIRUUHFRYHU\RIWKHUHQWDGYDQFHDQGWKHODQGORUGLH6HOYLQ -D\DNXPDUVHWH[SDUW\7KHFDVHKDVEHHQSRVWSRQHGWRIRU 6 'HYHQGUDQ WKH DSSOLFDQW KDV ¿OHG DQ DSSOLFDWLRQ ,' RI trial proceedings.” DJDLQVWWKH&RPSDQ\EHIRUHWKH/DERXU&RXUWDW.ROODPRQ$SULO

34 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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The Prohibition by SEBI Company also raised certain legal grounds of challenge which were not 2XU&RPSDQ\SHUVRQVLQFRQWURORIRXU&RPSDQ\DQGRURXU3URPRWHUVDQG XSKHOGE\WKH'LUHFWRU)LQDQFLDO,QWHOOLJHQFH8QLWZKLOHSDVVLQJWKH¿QDO RU RXU 'LUHFWRUV KDYH QRW EHHQ UHVWUDLQHG SURKLELWHG RU GHEDUUHG E\ 6(%, order. Pursuant to this, the Company appealed the said order before the from accessing the securities market or dealing in securities and no such +RQ¶EOH$SSHOODWH7ULEXQDO3UHYHQWLRQRI0RQH\/DXQGHULQJ$FWDW1HZ order or direction is in force. Further, no member of our promoter group has 'HOKLLQ)3$30/$'/,DQG0330/$'/,7KH EHHQSURKLELWHGRUGHEDUUHGE\6(%,IURPDFFHVVLQJWKHVHFXULWLHVPDUNHWRU 7ULEXQDOE\ZD\RIDQRUGHUGDWHG-XO\GLUHFWHGWKH&RPSDQ\ dealing in securities due to fraud. WRSD\DQDPRXQWRI5V ZLWKLQIRXUZHHNV7KH&RPSDQ\ Disclaimer Clause of SEBI KDV KRZHYHU REWDLQHG D VWD\ RUGHU IURP WKH 'HOKL +LJK &RXUW WKURXJK IT IS TO BE DISTINCTLY UNDERSTOOD THAT SUBMISSION DQRUGHUGDWHG$XJXVWDIWHUDJUHHLQJWRGHSRVLW5V OF OFFER DOCUMENT TO THE SECURITIES AND EXCHANGE The matter has been posted for hearing. BOARD OF INDIA (SEBI) SHOULD NOT IN ANY WAY BE DEEMED .9'8PDPDKHVZDUD5DR¿OHGDSHWLWLRQXQGHU2UGHU;;,5XOHDQG OR CONSTRUED THAT THE SAME HAS BEEN CLEARED OR 6HFWLRQRI&3&DJDLQVWWKH&RPSDQ\DQG.DQFKDUOD9HQNDWD0XUDOL APPROVED BY SEBI. SEBI DOES NOT TAKE ANY RESPONSIBILITY .ULVKQD EHIRUH WKH &RXUW RI WKH +RQ¶EOH ,, $GGLWLRQDO 'LVWULFW -XGJH EITHER FOR THE FINANCIAL SOUNDNESS OF ANY SCHEME OR DW *XQWXU LQ 26 1R RI VHHNLQJ WR VHW DVLGH WKH DWWDFKPHQW 7+( 352-(&7 )25 :+,&+ 7+( ,668( ,6 352326(' 72 %( RUGHUV SDVVHG E\ WKH 'LVWULFW -XGJH *XQWXU RQ$SULO DJDLQVW MADE OR FOR THE CORRECTNESS OF THE STATEMENTS MADE certain schedule property. The suit has been decreed in the favour of the OR OPINIONS EXPRESSED IN THE OFFER DOCUMENT. THE &RPSDQ\RQ-XO\(3SURFHHGLQJVDUHSHQGLQJDVRIGDWH LEAD MERCHANT BANKERS, EDELWEISS FINANCIAL SERVICES LIMITED AND A. K. CAPITAL SERVICES LIMITED, HAVE CERTIFIED Criminal cases THAT DISCLOSURES MADE IN THE OFFER DOCUMENT ARE 9LSLQ%KRODWKHFRPSODLQDQWLQWKHSUHVHQWPDWWHUKDV¿OHGDFULPLQDO GENERALLY ADEQUATE AND ARE IN CONFORMITY WITH THE FRPSODLQW && 1R RI XQGHU VHFWLRQV DQG SEBI (ISSUE AND LISTING OF DEBT SECURITIES) REGULATIONS, RI WKH ,3& DJDLQVW WKH &RPSDQ\ DQG FHUWDLQ HPSOR\HHV EHIRUH WKH 2008 IN FORCE FOR THE TIME BEING. THIS REQUIREMENT IS TO -XGLFLDO 0DJLVWUDWH *XUJDRQ7KH FRPSODLQDQW KDV DOOHJHG WKDW KH ZDV FACILITATE INVESTORS TO TAKE AN INFORMED DECISION FOR an agent of the Company and that he has deposited gold ornaments with MAKING INVESTMENT IN THE PROPOSED TRANCHE II ISSUE. the Company. The complainant has also alleged that the Company has IT SHOULD ALSO BE CLEARLY UNDERSTOOD THAT WHILE refused to redeem the ornaments pledged with it against part re-payment THE ISSUE IS PRIMARILY RESPONSIBLE FOR CORRECTNESS, of the amount of loan taken by the complainant. This matter has been ADEQUACY AND DISCLSOURE OF ALL RELEVANT INFORMATION GLVPLVVHG +RZHYHU WKH FRPSODLQDQW KDV ¿OHG D UHYLVLRQ SHWLWLRQ DQG IN THE OFFER DOCUMENT, THE LEAD MERCHANT BANKERS ARE same is pending for preliminary hearing. EXPECTED TO EXERCISE DUE DILIGENCE TO ENSURE THAT THE 7KH$VVLVWDQW5HJLVWUDU&RRSHUDWLYH6RFLHW\WKHFRPSODLQDQWKDG¿OHG ISSUER DISCHARGES ITS RESPONSIBILITY ADEQUATELY IN THIS DQ),5DJDLQVWWKH&RPSDQ\XQGHUVHFWLRQVDQGRI.DUQDWDND0RQH\ BEHALF AND TOWARDS THIS PURPOSE, THE LEAD MERCHANT Lenders Act, 1961 and sections 4 and 15 of the Karnataka Prohibition BANKERS, EDELWEISS FINANCIAL SERVICES LIMITED AND A. K. RI &KDUJLQJ ([RUELWDQW ,QWHUHVW $FW 7KH &RPSDQ\ KDV ¿OHG D CAPITAL SERVICES LIMITED, HAVE FURNISHED TO SEBI A DUE SHWLWLRQ &ULPLQDO 3HWLWLRQ 1R RI EHIRUH WKH +LJK &RXUW DILIGENCE CERTIFICATE DATED MAY 03, 2019 WHICH READS RI .DUQDWDND %DQJDORUH WR TXDVK WKH ),5 7KH FRXUW YLGH RUGHU GDWHG $6)2//2:6 -XO\KDVJUDQWHGDQLQWHULPVWD\WLOOWKHGLVSRVDORIWKHPDWWHU ³:HFRQ¿UPWKDWQHLWKHUWKHLVVXHUQRULWVSURPRWHUVRUGLUHFWRUVKDYHEHHQ 7KHPDWWHUZDVODVWSRVWHGRQ1RYHPEHUZKHUHWKH&RPSDQ\¶V prohibited from accessing the capital market under any order or direction DGYRFDWH VXEPLWWHG DQ DSSOLFDWLRQ IRU H[WHQVLRQ RI WKH VWD\ RUGHU 7KH SDVVHG E\ WKH %RDUG :H DOVR FRQ¿UP WKDW QRQH RI WKH LQWHUPHGLDULHV DSSOLFDWLRQ ZDV DOORZHG E\ WKH FRXUW DQG WKH VWD\ RUGHU ZDV H[WHQGHG named in the offer document have been debarred from functioning by WLOO WKH ¿QDO KHDULQJ RI WKH FDVH &DVH LV SHQGLQJ EHIRUH +LJK &RXUW RI any regulatory authority. .DUQDWDNDIRU¿QDOGLVSRVDO :HFRQ¿UPWKDWDOOWKHPDWHULDOGLVFORVXUHVLQUHVSHFWRIWKHLVVXHUKDYH )RUIXUWKHUGHWDLOVSOHDVHUHIHUWRFKDSWHUWLWOHG³/HJDODQG2WKHU,QIRUPDWLRQ´ been made in the offer document and certify that any material development RQ SDJH RI WKH 6KHOI 3URVSHFWXV DQG ³0DWHULDO 'HYHORSPHQWV3HQGLQJ in the issue or relating to the issue up to the commencement of listing 3URFHHGLQJVDQG6WDWXWRU\'HIDXOWV´RQSDJHRIWKH7UDQFKH,,3URVSHFWXV and trading of the NCDs offered through this issue shall be informed

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IRUP DQG FRQWH[W LQ ZKLFK WKH\ DSSHDU LQ WKH7UDQFKH ,, 3URVSHFWXV F WKH :H DOVR FRQ¿UP WKDW DOO UHOHYDQW SURYLVLRQV RI WKH &RPSDQLHV$FW VWDWHPHQW RI WD[ EHQH¿WV DYDLODEOH WR WKH GHEHQWXUH KROGHUV LQ WKH IRUP DQG WR WKH H[WHQW QRWL¿HG DV RQ WKH GDWH RI WKH 6KHOI 3URVSHFWXV 6HFXULWLHV FRQWH[W LQ ZKLFK WKH\ DSSHDU LQ WKH 7UDQFKH ,, 3URVSHFWXV G UHSRUW RQ Contracts, (Regulation) Act, 1956, Securities and Exchange Board of OLPLWHG UHYLHZ RI XQDXGLWHG VWDQGDORQH ¿QDQFLDOV IRU WKH TXDUWHU DQG QLQH India Act, 1992 and the Rules, Regulations, Guidelines, Circulars issued PRQWKVHQGHG'HFHPEHU H UHSRUWRQOLPLWHGUHYLHZRIXQDXGLWHG thereunder are complied with. VWDQGDORQH¿QDQFLDOVIRUWKHTXDUWHUDQGVL[PRQWKVHQGHG6HSWHPEHU Disclaimer Clause of the BSE DQG I UHSRUW RQ OLPLWHG UHYLHZ RI XQDXGLWHG VWDQGDORQH ¿QDQFLDOV IRU WKH %6(/LPLWHG ³WKH([FKDQJH´ KDVJLYHQYLGHLWVOHWWHUGDWHG)HEUXDU\ TXDUWHU DQG WKUHH PRQWKV HQGHG -XQH KDYH EHHQ REWDLQHG DQG KDV SHUPLVVLRQWRWKLV&RPSDQ\WRXVHWKH([FKDQJH¶VQDPHLQWKLVRIIHUGRFXPHQW QRWZLWKGUDZQVXFKFRQVHQWDQGWKHVDPHZLOOEH¿OHGDORQJZLWKDFRS\RI DVRQHRIWKHVWRFNH[FKDQJHVRQZKLFKWKLVFRPSDQ\¶VVHFXULWLHVDUHSURSRVHG WKH7UDQFKH,,3URVSHFWXVZLWKWKH52&VWRFNH[FKDQJHDQG6(%, WREHOLVWHG7KH([FKDQJHKDVVFUXWLQL]HGWKLVRIIHUGRFXPHQWIRULWVOLPLWHG Expert Opinion internal purpose of deciding on the matter of granting the aforesaid permission ([FHSW WKH L H[DPLQDWLRQ UHSRUWV RQ 5HIRUPDWWHG )LQDQFLDO 6WDWHPHQWV LQ WRWKLV&RPSDQ\7KH([FKDQJHGRHVQRWLQDQ\PDQQHU WKH IRUP DQG FRQWH[W LQ ZKLFK WKH\ DSSHDU LQ WKH 7UDQFKH ,, 3URVSHFWXV a) warrant, certify or endorse the correctness or completeness of any UHSRUWRQOLPLWHGUHYLHZRIWKHXQDXGLWHG¿QDQFLDOVWDWHPHQWVIRUWKHTXDUWHU RIWKHFRQWHQWVRIWKLVRIIHUGRFXPHQWRU DQG QLQH PRQWKV HQGHG 'HFHPEHU TXDUWHU DQG VL[ PRQWKV HQGHG b) ZDUUDQWWKDWWKLV&RPSDQ\¶VVHFXULWLHVZLOOEHOLVWHGRUZLOOFRQWLQXH 6HSWHPEHU DQG TXDUWHU DQG WKUHH PRQWKV HQGHG -XQH DQG WREHOLVWHGRQWKH([FKDQJHRU 6WDWHPHQWRI7D[%HQH¿WVLVVXHGE\9DUPD 9DUPD&KDUWHUHG$FFRXQWDQWV c) WDNHDQ\UHVSRQVLELOLW\IRUWKH¿QDQFLDORURWKHUVRXQGQHVVRIWKLV GDWHG -DQXDU\ DQG LL ,0D&6 ,QGXVWU\ 5HSRUW*ROG /RDQ 0DUNHW &RPSDQ\LWVSURPRWHUVLWVPDQDJHPHQWRUDQ\VFKHPHRUSURMHFW LQ ,QGLD DQG ,0D&6 ,QGXVWU\ 5HSRUW*ROG /RDQ 0DUNHW LQ ,QGLD RIWKLV&RPSDQ\ WKH&RPSDQ\KDVQRWREWDLQHGDQ\H[SHUWRSLQLRQV And it should not for any reason be deemed or construed that this offer Common form of Transfer GRFXPHQWKDVEHHQFOHDUHGRUDSSURYHGE\WKH([FKDQJH(YHU\SHUVRQZKR $OO WUDGLQJ WUDQVIHUV RI 1&'V ZLOO RQO\ EH LQ GHPDW IRUP DQG DV SHU WKH desires to apply for or otherwise acquires any securities of this Company may SURYLVLRQVRIWKH&RPSDQLHV$FWDSSOLFDEOHDVRQWKHGDWHRIWKH7UDQFKH GRVRSXUVXDQWWR,QGHSHQGHQWLQTXLU\LQYHVWLJDWLRQDQGDQDO\VLVDQGVKDOOQRW ,, 3URVSHFWXV DQG DOO DSSOLFDEOH ODZV VKDOO EH GXO\ FRPSOLHG ZLWK LQ UHVSHFW KDYH DQ\ FODLP DJDLQVW WKH ([FKDQJH ZKDWVRHYHU E\ DQ\ UHDVRQ RI DQ\ ORVV of all transfer of debentures and registration thereof. which may be suffered by such person consequent to or in connection with Minimum Subscription VXFKVXEVFULSWLRQDFTXLVLWLRQZKHWKHUE\UHDVRQRIDQ\WKLQJVWDWHGRURPLWWHG ,QWHUPVRIWKH6(%,'HEW5HJXODWLRQVIRUDQLVVXHUXQGHUWDNLQJDSXEOLFLVVXH to be stated herein or for any other reason whatsoever. of debt securities the minimum subscription for public issue of debt securities Disclaimer Clause of the RBI VKDOOEHRIWKH%DVH7UDQFKH,,,VVXHLHCPLOOLRQ,IRXU&RPSDQ\ 7+(&203$1<,6+$9,1*$9$/,'&(57,),&$7(2)5(*,675$7,21 GRHV QRW UHFHLYH WKH PLQLPXP VXEVFULSWLRQ RI RI WKH %DVH 7UDQFKH ,, '$7(''(&(0%(5,668('%<7+(5(6(59(%$1.2),1',$ ,VVXHLHCPLOOLRQZLWKLQWKHSUHVFULEHGWLPHOLQHVXQGHU&RPSDQLHV$FW 81'(56(&7,21,$2)7+(5(6(59(%$1.2),1',$$&7 and any rules thereto, the entire subscription amount shall be refunded to the +2:(9(5 7+( 5%, '2(6 127$&&(37$1< 5(63216,%,/,7< 25 $SSOLFDQWVZLWKLQWKHWLPHOLQHVSUHVFULEHGXQGHU$SSOLFDEOH/DZ,QWKHHYHQW *8$5$17(($%2877+(35(6(17326,7,21$6727+(),1$1&,$/ there is a delay, by our Company in making the aforesaid refund within the 6281'1(662)7+(&203$1<25)257+(&255(&71(662)$1< prescribed time limit, our Company will pay interest at the rate of 15% per 2) 7+( 67$7(0(176 25 5(35(6(17$7,216 0$'( 25 23,1,216 annum for the delayed period. (;35(66('%<7+(&203$1<$1')255(3$<0(172)'(326,76 8QGHU6HFWLRQ RIWKH&RPSDQLHV$FWUHDGZLWK5XOH RIWKH ',6&+$5*(2)/,$%,/,7<%<7+(&203$1< &RPSDQLHV 3URVSHFWXVDQG$OORWPHQWRI6HFXULWLHV 5XOHVLIWKHVWDWHG Listing PLQLPXPVXEVFULSWLRQDPRXQWLVQRWUHFHLYHGZLWKLQWKHVSHFL¿HGSHULRGWKH $SSOLFDWLRQ ZLOO EH EHHQ PDGH WR WKH %6( VLPXOWDQHRXVO\ ZLWK WKH ¿OLQJ RI application money received is to be credited only to the bank account from WKH6KHOI3URVSHFWXVDQGWKH7UDQFKH,,3URVSHFWXVIRUSHUPLVVLRQWRGHDOLQ ZKLFKWKHVXEVFULSWLRQZDVUHPLWWHG7RWKHH[WHQWSRVVLEOHZKHUHWKHUHTXLUHG DQGIRURI¿FLDOTXRWDWLRQLQ1&'V,ISHUPLVVLRQWRGHDOLQDQGIRUDQRI¿FLDO LQIRUPDWLRQ IRU PDNLQJ VXFK UHIXQGV LV DYDLODEOH ZLWK RXU &RPSDQ\ DQGRU TXRWDWLRQRIRXU1&'VLVQRWJUDQWHGE\WKH%6(RXU&RPSDQ\ZLOOIRUWKZLWK 5HJLVWUDU UHIXQGV ZLOO EH PDGH WR WKH DFFRXQW SUHVFULEHG +RZHYHU ZKHUH repay, without interest, all monies received from the applications in pursuance RXU &RPSDQ\ DQGRU 5HJLVWUDU GRHV QRW KDYH WKH QHFHVVDU\ LQIRUPDWLRQ IRU RIWKH7UDQFKH,,3URVSHFWXV PDNLQJVXFKUHIXQGVRXU&RPSDQ\DQGRU5HJLVWUDUZLOOIROORZWKHJXLGHOLQHV Our Company shall ensure that all steps for the completion of the necessary SUHVFULEHG E\ 6(%, LQ WKLV UHJDUG LQFOXGLQJ LWV FLUFXODU EHDULQJ &,5,0' IRUPDOLWLHV IRU OLVWLQJ DQG FRPPHQFHPHQW RI WUDGLQJ DW WKH VWRFN H[FKDQJH ') GDWHG-XO\ PHQWLRQHG DERYH DUH WDNHQ ZLWKLQ :RUNLQJ 'D\V IURP WKH GDWH RI FORVXUH Filing of the Draft Shelf Prospectus RIWKH7UDQFKH,,,VVXH $ FRS\ RI WKH 'UDIW 6KHOI 3URVSHFWXV KDV EHHQ ¿OHG ZLWK WKH 'HVLJQDWHG Consents 6WRFN ([FKDQJH LQ WHUPV RI 5HJXODWLRQ RI WKH 6(%, 'HEW 5HJXODWLRQ IRU &RQVHQWV LQ ZULWLQJ RI D WKH 'LUHFWRUV E RXU &RPSDQ\ 6HFUHWDU\ DQG GLVVHPLQDWLRQRQWKHLUZHEVLWHDQGWKH6(%, &RPSOLDQFH 2I¿FHU F &KLHI )LQDQFLDO 2I¿FHU G /HDG 0DQDJHUV H WKH Filing of the Shelf Prospectus and Tranche II Prospectus with the RoC 5HJLVWUDU WR WKH 7UDQFKH ,, ,VVXH I /HJDO$GYLVRU WR WKH 7UDQFKH ,, ,VVXH $ FRS\ RI WKH 6KHOI 3URVSHFWXV GDWHG )HEUXDU\ KDV EHHQ ¿OHG ZLWK J &UHGLW 5DWLQJ $JHQFLHV K WKH 'HEHQWXUH 7UXVWHH L ,0$&6 IRU WKH the Registrar of Companie VLQDFFRUGDQFHZLWK6HFWLRQDQG6HFWLRQRI LQFOXVLRQ RI WKH LQGXVWU\ UHSRUW M 6WDWXWRU\ $XGLWRU N OHQGHUV RI WKH WKH &RPSDQLHV$FW $ FRS\ RI WKH7UDQFKH ,, 3URVSHFWXV ZLOO EH ¿OHG &RPSDQ\ O /HDG %URNHUV DQG P %DQNHU WR WKH 7UDQFKH ,, ,VVXH WR DFW ZLWK WKH 5HJLVWUDU RI &RPSDQLHV LQ DFFRUGDQFH ZLWK 6HFWLRQ DQG 6HFWLRQ LQ WKHLU UHVSHFWLYH FDSDFLWLHV KDYH EHHQ REWDLQHG DQG WKH VDPH ZLOO EH ¿OHG RIWKH&RPSDQLHV$FW

36 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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If GHEHQWXUHVUDLVHGWKURXJKWKHSXEOLFLVVXHLQDFFRUGDQFHZLWKWKH6(%,'HEW any of the following risks or other risks that are not currently known or are 5HJXODWLRQV LQ FDVH RI 1%)&V UHJLVWHUHG ZLWK WKH 5%, $FFRUGLQJO\ RXU QRZGHHPHGLPPDWHULDODFWXDOO\RFFXURXUEXVLQHVV¿QDQFLDOFRQGLWLRQDQG &RPSDQ\LVUHTXLUHGWRFUHDWHD'55RIRIWKHYDOXHRIWKHRXWVWDQGLQJ result of operation could suffer, the trading price of the NCDs could decline 1&'V LVVXHG WKURXJK WKH 7UDQFKH ,, ,VVXH ,Q DGGLWLRQ DV SHU 5XOH and you may lose all or part of your interest and/or redemption amounts. The H XQGHU &KDSWHU ,9 RI WKH &RPSDQLHV $FW WKH DPRXQWV FUHGLWHG WR risks and uncertainties described in this section are not the only risks that we '55 VKDOOQRWEH XWLOLVHGE\ RXU &RPSDQ\ H[FHSWIRU WKHUHGHPSWLRQRI WKH currently face. 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Our Company’s actual results could differ materially from FODXVH I RIVHFWLRQRIWKH,QGLDQ7UXVWV$FW7KHDPRXQWGHSRVLWHG those anticipated in these forward looking statements as a result of several or invested, as the case may be, shall not be utilised for any purpose other factors, including the considerations described below and elsewhere in the than for the repayment of debentures maturing during the year referred to Shelf Prospectus. above, provided that the amount remaining deposited or invested, as the case 8QOHVV RWKHUZLVH VWDWHG ¿QDQFLDO LQIRUPDWLRQ XVHG LQ WKLV VHFWLRQ LV GHULYHG may be, shall not at any time fall below 15% of the amount of debentures from the Reformatted Financial Statements as of and for the years ended maturing during the 31st day of March of that year. 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Failure to recover the value of the collateral Underwriting FRXOGH[SRVHXVWRDSRWHQWLDOORVVWKHUHE\DGYHUVHO\DIIHFWRXU¿QDQFLDO condition and results of operations. 7KLV7UDQFKH,,,VVXHKDVQRWEHHQXQGHUZULWWHQ 6. :H IDFH LQFUHDVLQJ FRPSHWLWLRQ LQ RXU EXVLQHVV ZKLFK PD\ UHVXOW LQ ,GHQWL¿FDWLRQDVZLOIXOGHIDXOWHU GHFOLQLQJ PDUJLQV LI ZH DUH XQDEOH WR FRPSHWH HIIHFWLYHO\ ,QFUHDVLQJ 1HLWKHURXU&RPSDQ\QRUDQ\3URPRWHURU'LUHFWRULVDZLOIXOGHIDXOWHULGHQWL¿HG FRPSHWLWLRQ PD\ KDYH DQ DGYHUVH HIIHFW RQ RXU QHW LQWHUHVW PDUJLQ E\WKH5%,RUDQ\RWKHUJRYHUQPHQWDODXWKRULW\QRULQGHIDXOWRISD\PHQWRI DQG LI ZH DUH XQDEOH WR FRPSHWH VXFFHVVIXOO\ RXU PDUNHW VKDUH PD\ interest or repayment of principal amount in respect of debt securities issued decline. 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MUTHOOT FINANCE LIMITED 37 IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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38 MUTHOOT FINANCE LIMITED IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS

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