The Board of Directors of South Indian Bank has inter alia considered and approved the right issues to raise ₹1,151.01 crores

Subject: Regulations 30, 42 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”) and outcome of the meeting of the Board of Directors of The South Indian Bank Limited (the “Bank”) held on February 21, 2024 

This is further to the meeting of the Board of Directors of the Bank (the “Board”) held on December 27, 2023 , approving the offer and issuance of fully paid-up equity shares of the Bank (the “Rights Equity Shares”) for an amount not exceeding ₹1,750 crore , by way of a rights issue (“Rights Issue”), in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, other applicable laws and our prior intimation dated February 15, 2024.

Pursuant to the above referred, we wish to inform you that the Board of Directors at their meeting held today, i.e. on February 21, 2024, has inter alia considered and approved the following terms of the Rights Issue:

1. Total number of Rights Equity Shares and Rights Issue size: 5,231,85,254 Rights Equity Shares each on fully–paid up basis for an amount aggregating upto ₹1,151.01 crores (assuming full subscription with respect to Rights Equity Shares).
2. Rights Issue Price: ₹ 22 per Rights Equity Share fully paid-up (including a premium of ₹ 21 per Rights Equity Share) on application.

3. Record date: Tuesday, February 27,2024
4. Rights Issue period:

5. 1. Rights Issue Opening Date: Wednesday, March 6, 2024; and
   2. Rights Issue Closing Date: Wednesday, March 20, 2024.

2. 1. prior to the Rights Issue: 209,27,41,018 equity shares of theBank;
   2. post Rights Issue^#: 261,59,26,272 equity shares of theBank.

^#Assuming full subscription with respect to Rights Equity Shares.

f.  Other terms of the Rights Issue (including fractional entitlements and zero entitlements): To be included in the letter of offer to be filed by the Bank with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited. g. Rights entitlement ratio: 1 Rights Equity Shares for every 4 fully paid-up equity share of the Bank held by the eligible equity shareholders of the Bank, as on the record date (“Eligible Equity Shareholders”) h. ISIN for Rights Entitlement: INE683A20015 Further, please find enclosed herewith, i) the Reformatted Consolidated Financial Statements of the Bank and its Subsidiary, as of and for the year ended March 31, 2023; ii) the Reformatted Standalone Financial Statements of the Bank as of and for the year ended March 31, 2023 (“Reformatted Financial Statements”); iii) the Unaudited Interim Condensed Consolidated Financial Statements (including cash flow) of the Bank and its Subsidiary as at and for the nine-month period ended December 31, 2023 and iv) the Unaudited Interim Condensed Standalone Financial Statements (including cash flow) of the Bank as at and for the nine-month period ended December 31, 2023 (“Condensed Financial Statements”) along with the review reports on the Reformatted Standalone and Consolidated Financial Statements and review reports on the Interim Condensed Standalone and Consolidated Financial Statements issued by the Joint Statutory Central Auditors of the Bank and approved by the Board in its meeting held today, on February 21, 2024. Additionally, the Board also approved the Letter of Offer to be filed with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited. The meeting of the Board commenced at 4:00 p.m. and concluded at 9:15 p.m. The above information is also available on the website of the Bank, i.e.www.southindianbank.com. We request you to take the aforesaid on records and to disseminate it to your members.

Thanking you,

Yours faithfully,

JIMMY MATHEW

(COMPANY SECRETARY)