PRESS RELEASE

IIHL acquires stake in Afrinex, a Pan-African stock exchange launched at the hands of Mauritius PM Pravind Kumar Jagnauth

On Monday 25 October 2021, AFRINEX Limited (“AFRINEX”), a Pan-African stock exchange with a state-of the-art clearing and settlement platform, held a lunch ceremony to mark the beginning of its operations in Mauritius in the presence of Hon. Prime Minister, Pravind Kumar Jugnauth, the Minister of Land Transport and Light Rail, Minister of Foreign Affairs, Regional Integration and International Trade, Mr Alan Ganoo, the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, the Minister of Financial Services and Good Governance, Mr Mahen Kumar Seeruttun, and the High Commissioner of India to Mauritius, Mrs Nandini Singla, were present on that occasion. Minister of State for Finance, Government of India, Mr. Pankaj Chaudhuri graced this auspicious event with a pre-recorded video that was shown during the launching ceremony.

As a further step in raising the country’s profile as an International Financial Centre, AFRINEX offers global trading services. The primary market services offered initially include the listing of a wide range of securities such as debt, equity, certificates of deposit, funds (open and closed) and other securities. AFRINEX offers secondary market trading in securities and derivatives in various asset classes with strong regulatory standards. BSE Technologies Ltd [a wholly owned subsidiary of BSE Ltd, formerly known as Bombay Stock Exchange] is AFRINEX’s partner, providing a state-of-the-art trading, settlement and clearing platform. Several representatives of the Mauritian and foreign financial services sector were present at the event. The launch of AFRINEX comes on the heels of Mauritius’ removal from the FATF grey list – and while removal from the EU black list is expected.

As part of its value-creation project, IIHL has invested $0.5mn and committed additional

$0.5mn investment in Afrinex Exchange. This makes IIHL a 10.65% shareholder in Afrinex exchange. IIHL was represented by Mr. Moses Harding, President & CEO of the Company at the launch.

AFRINEX marked its launch with the listing of $1 billion of EXIM Bank of India’s 144A bonds on its official listing platform. Harsha Bangari, Managing Director of the bank said: I would like to congratulate and thank AFRINEX for giving us this opportunity. EXIM Bank of India’s $ 1 billion 10-year bond was the fourth issue in 144A / Reg S format. The transaction, with a coupon of 2.25% per annum, was a record high for an Indian issuer in a 10-year USD issue. The issue was oversubscribed 3.5 times by several high quality investors.

For further information, please contact:

Ms. Faye Joomun, manager & Head Investor Relations

IndusInd International Holdings Limited

+230 245 8000 / Faye@indusindinternational.com