PERMISSION TO INSURERS TO INVEST IN CATEGORY I ALTERNATIVE INVESTMENT FUNDS

The Insurance Regulatory Development Authority (IRDA) has permitted the Insurers to invest in
Alternative Investment Funds (AIFs) subject to the following:

Investment in the Alternative Investment Fund (AIF) along with the existing investments in Venture Funds shall be subject to the following exposure norms:

• Type of Insurer- Life Insurance Company, Genaeral Insurance Company
•  Exposure Limits- 3 % of respective Fund  (or) 10% of AIF's size, whichever is lower.,  5% of Investment Assets (or) 10% of AIF's size, whichever is lower.