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Insider Trading Synopsis The Code of Conduct to Regulate, Monitor and Report Trades in securities by Directors, Employees & Connected Persons ("the Code") is applicable to the (a) Employees of the Company, (b) Designated Persons and their Immediate Relatives and (c) Connected Persons. No Employee, Designated/Connected Persons and their Immediate Relatives shall trade, subscribe, buy, sell, pledge or deal in, or agree to trade, subscribe, buy, sell, pledge or deal in Securities that are listed or proposed to be listed on a stock exchange when in possession of Unpublished Price Sensitive Information ("UPSI"). Pledge should not be created or invoked while in possession of UPSI. Every person covered under the Code is required to adhere the following statutory requirements: 1. Contra Trade - No contra trade i.e. if you buy shares of a company you have to hold the shares for 6 months and vice-versa (a buy after a sell or a sell after a buy on the stock exchange should have a gap of at least six months) shall be executed in the following: a) securities of any listed company; b) sale of securities allotted in IPO; c) off-market transactions. 2. Trading window – Trading window is a period when trading is allowed in Company’s shares. When trading window is closed, no trading in shares (including creation/ invocation of pledge) of Company will be permitted. Trading window is defined by Compliance Officer. 3. Futures & Options - Designated Persons are prohibited from trading in Derivatives (Futures & Options) of any listed company. However, trading in index based Derivatives including index futures which are not specific to any listed company is allowed. 4. Filing of Form C with the Compliance Officer – Submission of Form C to the Compliance Officer within two trading days, if cumulative transactions of any Employee of the Company exceed ` 10,00,000 in value in any calendar quarter. 5. Preclearance of trades - i. For trading in Company's shares: Every Designated Person and their immediate relatives shall be required to seek pre-clearance from the Compliance Officer when proposed trades are in excess of 25,000 Shares per calendar month and comply subsequent reporting requirements prescribed under the Code; ii. For trading in shares of other listed companies a. Investment team i. Complete restriction from dealing insecurities of restricted list; ii. In case of shares of other listed companies, for all transactions except certain trades as prescribed in clause 7.3 of the Code.

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Insider Trading Synopsis

The Code of Conduct to Regulate, Monitor and Report Trades in securities by Directors, Employees &

Connected Persons ("the Code") is applicable to the (a) Employees of the Company, (b) Designated Persons

and their Immediate Relatives and (c) Connected Persons.

No Employee, Designated/Connected Persons and their Immediate Relatives shall trade,

subscribe, buy, sell, pledge or deal in, or agree to trade, subscribe, buy, sell, pledge or deal in

Securities that are listed or proposed to be listed on a stock exchange when in possession of

Unpublished Price Sensitive Information ("UPSI"). Pledge should not be created or invoked while

in possession of UPSI.

Every person covered under the Code is required to adhere the following statutory requirements:

1. Contra Trade - No contra trade i.e. if you buy shares of a company you have to hold the shares for 6

months and vice-versa (a buy after a sell or a sell after a buy on the stock exchange should have a gap of

at least six months) shall be executed in the following:

a) securities of any listed company;

b) sale of securities allotted in IPO;

c) off-market transactions.

2. Trading window – Trading window is a period when trading is allowed in Company’s shares. When

trading window is closed, no trading in shares (including creation/ invocation of pledge) of

Company will be permitted. Trading window is defined by Compliance Officer.

3. Futures & Options - Designated Persons are prohibited from trading in Derivatives (Futures & Options)

of any listed company. However, trading in index based Derivatives including index futures which are not

specific to any listed company is allowed.

4. Filing of Form C with the Compliance Officer – Submission of Form C to the Compliance Officer

within two trading days, if cumulative transactions of any Employee of the Company exceed ` 10,00,000 in value in any calendar quarter.

5. Preclearance of trades -

i. For trading in Company's shares:

Every Designated Person and their immediate relatives shall be required to seek pre-clearance from

the Compliance Officer when proposed trades are in excess of 25,000 Shares per calendar month

and comply subsequent reporting requirements prescribed under the Code;

ii. For trading in shares of other listed companies

a. Investment team

i. Complete restriction from dealing insecurities of restricted list;

ii. In case of shares of other listed companies, for all transactions except certain trades as

prescribed in clause 7.3 of the Code.

b. Designated Persons and their immediate relatives (other than investment team)

For dealings in securities in excess of Rs. 25 lakhs per scrip per month.

Please note that all Employees are individually responsible for complying with the provisions of the SEBI

Regulations and the Code to the extent applicable. Penal consequences apply for failure to comply

with the above. Other than for Contra trade where SEBI has already prescribed the penalty, in

other cases the penalty will be decided by the Insider Trading Committee based on the

seriousness of the non-compliance and the frequency of such non-compliance thereof.

Kindly go through the Code in detail given below. In case of any queries, please write to

[email protected].

1

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

Code of Conduct to Regulate, Monitor and Report Trades in securities by

Directors, Employees & Connected Persons.

1. BACKGROUND AND APPLICABILITY

This code of conduct is called ICICI Prudential Life Insurance Company Limited Code of

Conduct to Regulate, Monitor and Report Trades in Securities by Directors, Employees

& Connected Persons (as defined hereunder) (“Code”) and has been formulated in

conformity with the Securities and Exchange Board of India (Prohibition of Insider

Trading) Regulations, 2015. The Code is applicable to the Employees of the Company,

Designated Persons, and their Immediate Relatives and Connected Persons, to the

extent applicable.

Underlying principle of the Regulations and Code:

(i) No Employee, Designated/Connected Persons and their Immediate Relatives

shall trade, subscribe, buy, sell, pledge or deal in, or agree to trade, subscribe,

buy, sell, pledge or deal in Securities that are listed or proposed to be listed on

a stock exchange when in possession of Unpublished Price Sensitive

Information (“UPSI”). Pledge should not be created or invoked while in

possession of UPSI.

(ii) Employees, Designated/Connected Persons and their Immediate Relatives shall

be individually responsible for complying with the provisions of the Regulations

and the Code to the extent applicable.

(iii) When a person trades in Securities while in possession of UPSI, the trades

would be presumed to have been motivated by the person’s knowledge and

awareness of such information. The reasons for the trades or the purposes to

which the person applies the proceeds of the transactions are not intended to

be relevant for determining whether a person has violated the Regulations. What

needs to be demonstrated at the outset to bring a charge is that the person

traded when in possession of UPSI. Once this is established, it would be open

to the person to prove innocence by demonstrating the circumstances

mentioned in the proviso to regulation 4(1) of the Regulations, failing which the

person would have violated the prohibition.

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2. DEFINITIONS

In this Code, unless the context otherwise requires,

2.1. “Appellate Authority” shall have the meaning assigned to it in clause 13 of this Code.

2.2. “Audit Committee” refers to the committee constituted by the Board of Directors in

accordance with Section 177 of the Companies Act, 2013.

2.3. “Board of Directors” refers to the board of Directors of the Company.

2.4. “Company” means ICICI Prudential Life Insurance Company Limited.

2.5. “Code” means this ICICI Prudential Life Insurance Company Limited Code of Conduct

to regulate, monitor and report Trades in Securities by Directors, Employees and

Connected Persons, as approved and modified by the Board of Directors from time to

time and formulated under Regulation 9 of the Regulations.

2.6. “Compliance Officer” means the Officer appointed by the Company as compliance

officer pursuant to clause 3 of the Code and in line with the requirements of the

Regulations.

2.7. “Connected Person” shall have the meaning prescribed in regulation 2(1)(d) of the

Regulations.

2.8. “Dealing Room” means a place where deals are concluded by the dealers with the

counterparties or on stock exchange and entered in the investment systems. This will

also include a temporary place identified by the Company in case a disaster is declared

and the business continuity plan is invoked.

2.9. “Director” means a director of the Company.

2.10. “Designated Person”, unless stated otherwise in the Code, means

(i) Directors;

(ii) an Employee of the Company designated in the level 10 and above globally

across the Company and employees of an equivalent level 10 and above across

its subsidiary(ies);

(iii) all Employees of the Company of specified departments as per Appendix A,

including secretaries to whole time directors & employees designated in level

12;

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(iv) any other Employee to whom employee stock options of the Company have

been granted from time to time and employees of the holding and

subsidiary(ies) of the Company to whom employee stock options of the

Company have been granted from time to time;

(v) Whole time directors of subsidiary(ies) of the Company; and

any such Employee in any of the categories mentioned above on deputation

to/from the Company;

2.11. “Employee” shall mean employees of the Company, including employees of the

Company who are on probation or are on deputation to/from the Company, and

employees of overseas representative offices of the Company.

2.12. “Generally Available Information” means information that is accessible to the public on

a non-discriminatory basis, such as information published on websites of stock

exchanges.

2.13. “Immediate Relatives” i.e. a spouse of a person, and includes dependent parent(s),

sibling(s), and child of such person or of the spouse, any of whom is either dependent

financially on such person, or consults such person in taking decisions relating to

Trading in Securities.

2.14. “Infractions of the Code” means any non-adherence of the provisions of this Code other

than those defined as “Violations of the Code”.

2.15. “Insider” means an Employee of the Company and includes a Designated Person/

Connected Person or any other person who is in possession of or has access to UPSI.

2.16. “Insider Trading Committee” means an internal committee of the Company comprising

of officials of Human Resources, Legal and Compliance departments which will

stipulate sanctions and disciplinary actions against the Employees, Designated Persons

and their Immediate Relatives, in terms of clause 12 of this Code.

2.17. “Investment Team” means any Employee of the Company who forms a part of the

Investments department of the Company, and includes any dealers or other Employees

who have access to the Dealing Room.

2.18. “Other Listed Company” means any company incorporated in India (other than ICICI

Prudential Life Insurance Company Limited), which has Securities listed or proposed to

be listed on a recognised stock exchange in India.

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2.19. “Regulations” mean the Securities and Exchange Board of India (Prohibition of Insider

Trading) Regulations, 2015.

2.20. “Restricted List” shall have the meaning ascribed thereto in clause 6 of the Code.

2.21. “SEBI” means the Securities and Exchange Board of India.

2.22. “Securities” shall have the meaning assigned to it under the Securities Contracts

(Regulation) Act, 1956 or any modification thereof excluding the following:

(i) Units of any mutual fund scheme, whether open-ended, close-ended, listed or

unlisted;

(ii) Index based Derivatives including Index futures which are not specific to any

listed Company;

2.23. “Shares” means the equity shares of the Company.

2.24. “Trading” means and includes subscribing, buying, selling, pledging, dealing, or

agreeing to subscribe, buy, sell, pledge or otherwise deal in any Securities, and "trade"

shall be construed accordingly. Exercise of employee stock options and acquisition of

Securities pursuant to such exercise shall not be considered as Trading except for the

disclosure requirements under Chapter III of the Regulations.

2.25. “Trading Day” means a day on which the recognized stock exchanges are open for

Trading .

2.26. “Trading Window" shall for the purpose of this Code mean the period during which

Trading in Securities of ICICI Prudential Life Insurance Company Limited is permitted.

2.27. “Unpublished Price Sensitive Information” (“UPSI”) means any information relating to

the Company or any Other Listed Company or their Securities, directly or indirectly that

is not generally available, which upon becoming generally available, is likely to

materially affect the price of the Securities and shall, ordinarily include but not restricted

to information relating to:

financial results,

dividends

changes in capital structure

mergers, de-mergers, acquisitions, delistings, disposals and expansion

of business and such other transactions;

changes in key managerial personnel; and

material events in accordance with the listing agreement.

5

2.28. “Violations of the Code” means Trading in Securities when in possession of UPSI or an

act of insider trading and includes any situation where it is reasonable to believe that

insider trading could have taken place.

All references to designations of employees in this Code are as per the designations

assigned by the Human Resources department of the Company.

Words and expressions used and not defined in the Code but defined in the

Regulations, the Securities and Exchange Board of India Act, 1992, the Securities

Contracts (Regulation) Act, 1956, the Depositories Act, 1996 or the Companies Act,

2013, as amended and rules and regulations made thereunder shall have the meanings

respectively assigned therein.

3. COMPLIANCE OFFICER

3.1. The Company Secretary and in his/her absence any other person as may be designated

by the Board of Directors shall be the Compliance Officer for the purpose of

administering the Code and for this purpose shall report to the Board of Directors.

3.2. The Compliance Officer shall be responsible for ensuring compliance of policies,

procedures, maintenance of records, monitoring adherence to the rules for the

preservation of UPSI of the Company, maintaining the Restricted List, monitoring of

trades and the implementation of controls set out in the Regulations under the overall

supervision of the Board of Directors.

3.3. The Compliance Officer shall provide reports to the Chairman of the Audit Committee

or to the Chairman of the Board of Directors at such frequency as may be stipulated by

the Board of Directors.

4. PRESERVATION OF UPSI

4.1. Employees and Designated /Connected Persons who are in their possession of UPSI of

the Company shall not communicate, provide, or allow access or cause the

communication of any UPSI, relating to the Company, to any person including other

Employees and Designated Persons except where such communication is in

furtherance of legitimate purposes, performance of duties or discharge of legal

obligations.

4.2. UPSI of the Company shall be disclosed on a need to know basis only to those within

the Company who require such information for furtherance of legitimate purpose,

performance of duties or discharge of legal obligations.

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4.3. All Employees or Designated Persons as a part of their functional role may on a need

to know basis share information between different departments within the Company

for preparation and finalization of accounting statements for evaluating and analyzing

the risk, compliance, legal, administrative and other aspects thereof, to prepare various

statements, documents, reports etc.

4.4. The Company shall ensure appropriate segregation (Chinese Walls) between

investment function and other functions of the Company. Access to Dealing Room is

restricted to authorized staff members only. The process for permitting any Employee

or Designated Person to “cross the wall” shall be as prescribed in the investment

Standard operating procedure shall ensure Trading in securities only when it is in

possession of Generally Available Information. In case of any conflicting situations the

investment can be made only post approval from Executive Director – Corporate

Center.

4.5. In case of doubt whether certain information falls within the scope of UPSI or not, the

same may be brought to the attention of the Compliance Officer for clarity.

5. TRADING BY EMPLOYEES AND DESIGNATED/CONNECTED PERSONS IN

SECURITIES OF THE COMPANY

5.1 Prohibition on Trading

(i) Employees, Designated/Connected Persons and their Immediate Relatives may

Trade in Shares of the Company, directly or through its advisors including

investment managers, discretionary/ non-discretionary portfolio managers,

brokers or other persons trading on behalf of their account, only when they are

not in possession of any UPSI of the Company.

(ii) Employees, Designated/Connected Persons and their Immediate Relatives shall

not trade in derivatives (“Futures & Options”) of the Company’s Shares.

5.2 Prohibition on Contra Trades

(i) Designated/Connected Persons and their Immediate Relatives who buy or sell

Shares of the Company (any quantity) shall not do a contra Trade, i.e., sell or

buy Shares of the Company (any quantity), directly or indirectly, during the next

six months following the prior transaction.

(ii) In case Trading in Shares of the Company is necessitated by certain

circumstances (i.e., without adhering to the prohibition on contra trades), the

Compliance Officer is empowered to grant relaxation from strict application of

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such restriction for reasons to be recorded in writing provided that such

relaxation does not violate the Regulations.

(iii) The acquisition of Shares by Designated Persons and their Immediate Relatives

or by Connected Persons through the initial public offer of the Company shall

constitute buy Trades and such persons are prohibited from undertaking a sell

trade within six months of the date of allotment of such Shares.

(iv) Acquisition of Shares through further public offers, rights issues and bonus

issues, and sale of Shares through buy back offers, open offers and exit offers,

shall not constitute a Trade for the purposes of clause 5.2 of this Code.

(v) In the event, a contra trade is executed, inadvertently or otherwise, in infraction

of such a restriction, the profits from such trade shall be liable to be disgorged

for remittance to SEBI for credit to the Investor Protection and Education Fund

administered by SEBI.

5.3 Trading Window

(i) All Trading by Designated Persons and their Immediate Relatives and by

Connected Persons shall be subject to a Trading Window.

(ii) Designated Persons and their Immediate Relatives and Connected Persons may

Trade in Shares of the Company only when the Trading Window is open. Such

trade shall be subject to pre-clearance requirements, if applicable. They shall

not, either directly or through their advisors including investment managers,

discretionary/ non-discretionary portfolio managers, brokers, or other persons

Trade for or on behalf of their account in Shares of the Company when the

Trading Window is closed.

(iii) The Trading Window shall be closed when the Compliance Officer determines

that a Designated Person or a class of Designated Persons can reasonably be

expected to have possession of UPSI relating to the Company. However, the

Trading Window shall be closed from the 7th

day of the month following the end

of a calendar quarter for declaration of financial results (quarterly, half-yearly

and annual) and declaration of dividends (interim and final) and at any other time

as may be decided by the Compliance Officer if any event which could give rise

to UPSI for the Company is under active consideration of the Company.

(iv) The Trading Window shall be re-opened not earlier than forty eight (48) hours

after the UPSI in question or the information relating to items specified above

become generally available.

8

(v) The Trading Window shall also be made applicable to any person having

contractual or fiduciary relation with the Company, such as auditors,

accountancy firms, law firms, analysts, consultants, etc., assisting or advising

the Company

5.4 Pre-clearance of Trades

(i) Every Designated Person and their Immediate Relatives shall be required to seek

pre-clearance from the Compliance Officer for their Trading in the Shares of the

Company in the following cases:

a. When the trading window is open; and

b. Proposed Trades in the Shares of the Company are in excess of 25,000

Shares per calendar month.

(ii) Application for pre-clearance shall be made in Form I to the Compliance Officer.

The Compliance Officer may grant approval or reject the request for pre-

clearance without assigning any reasons.

(iii) No application for pre-clearance of any Trade proposed to be undertaken by a

Designated Person or their Immediate Relative, directly or through its advisors

including investment managers, discretionary/ non-discretionary portfolio

managers, brokers or other persons trading on behalf of their account, shall be

made if such Designated Person or their Immediate Relative is in possession of

UPSI related to the Company, even if the trading window is not closed.

(iv) Upon pre-clearance being granted, the concerned Designated Person shall

purchase/sell the Shares of the Company within seven (7) Trading Days

including date of approval and submit a report of the trades executed within two

(2) working days of execution of the trade in the format as prescribed in Form II.

(v) If for any reason whatsoever, the purchase/sale of Shares of the Company is not

completed within the said period of 7 Trading Days, the concerned Designated

Person must report the same along with the reasons for not completing the

purchase/sale of shares same in the said format as prescribed in Form II within

the next seven (7) working days. Penalties will lie for failure to file the report of

the trades within the stipulated time-lines. The responsibility to file the report

with the Compliance Officer shall lie with the Designated Persons.

(vi) Fresh application in Form I to the Compliance Officer would be required to be

made for any purchase / sale of Shares after the expiry of 7 trading days.

9

(vii) In respect of Trades in Shares of the Company by the Compliance Officer himself

the application for pre-clearance to trade in Form I shall be submitted to the

Whole-time Director – Corporate Centre.

5.5 Designated Persons who intend to Trade in any Securities listed on the stock exchanges

shall be required to establish broking account with ICICI Securities Limited and/or such

other entity as the Compliance Officer may notify or permit, and shall conduct all Trades

only through such broking accounts.

5.6 Designated Person shall have the option to adopt a Trading Plan for purchase/sale of

Shares of the Company. Such person shall submit the Trading Plan to the Compliance

Officer for approval and public disclosure in such form as may be provided by the

Compliance Officer. Once approved, the Trading Plan shall be irrevocable and

implemented mandatorily. The Trading Plan will be required to follow the timelines as

stipulated in the Regulations. The Compliance Officer shall clarify doubts if any on the

execution and implementation of the Trading Plan.

6. RESTRICTED LIST

6.1 The Compliance Officer shall maintain a list of Other Listed Companies as a “restricted

list” in a confidential manner, which shall be used as the basis for approving or rejecting

applications for pre-clearance of trades. This list may also be used by the Compliance

Officer in order to monitor Trading in Securities of Other Listed Companies.

6.2 The determination of which Other Listed Companies are to be placed on the Restricted

List shall be based on the availability of UPSI pertaining to such companies and/ or to

avoid front running associated with their Securities.

6.3 The Investments Team of the Company shall be responsible for determining which

Other Listed Companies are to be placed on the Restricted List and which Other Listed

Companies on the Restricted List are to be taken off the Restricted List. This will be

conveyed by the Investments Team to the Compliance Officer as and when the

Investments Team deems necessary. The Investments department shall make this

determination based on availability or likelihood of access to UPSI of Other Listed

Companies with Employees and/ or to avoid front running.

6.4 Designated persons are prohibited from dealing in the Securities of the Other Listed

Companies forming part of restricted list except as given below

(a) The designated persons in Investment team (front and Back office, including

members of EIC) will be completely prohibited from dealing in such securities

10

(b) For all other designated persons the trades shall be allowed subject to the pre

clearance from the Compliance Officer for dealings in securities in excess of ` 25 lakhs

per scrip per month.

6.5 All Designated Persons are prohibited from Trading in derivatives of such companies

which form part of the Restricted List.

7. TRADING IN SECURITIES OF OTHER LISTED COMPANIES (OTHER THAN

SHARES OF COMPANY AND RESTRICTED LIST).

7.1 No Employee shall Trade in Securities of Other Listed Companies and are not a part of

Restricted List, when in possession of UPSI. Pledge should not be created or invoked

while in possession of UPSI.

7.2 Designated Persons shall not Trade or deal in Futures & Options of any Other

Companies not forming a part of Restricted List, provided however, such prohibition

shall not apply to Index based Derivatives including Index Futures which are not specific

to any listed company.

7.3 The Designated Persons shall, subject to the limits prescribed below, seek prior

approval from the Compliance Officer (in the prescribed Form 1) for all Trading being

undertaken either directly or indirectly through their advisors including investment

managers, discretionary/ non-discretionary portfolio managers, brokers or other

persons Trading on their behalf:

(i) In case of the Investment Team, pre-clearance from the Compliance Officer is

required for all transactions entered into by them except:

a. For sale of Securities allotted during subscription under an IPO/ FPO up to

Rs. 2 lakhs per scrip per calendar month.

b. For Trading in government securities and corporate bonds, pre-clearance is

not required up to Rs. 10 lacs per scrip per calendar month.

(ii) For all other Designated Persons and their Immediate Relatives, the pre

clearance from the Compliance Officer shall be applicable only for Trading in

Securities of Other Listed Securities in excess of Rs. 25 lakhs per scrip per

calendar month.

7.4 All Designated Persons are individually responsible for complying with the provisions

of the Regulations and the Code to the extent applicable.

7.5 For the purpose of Clause 6 and 7, Clause 2.10(ii) and (iii) (i.e. definition of ‘Designated

Person’) shall read as follows:

11

“(i) Whole-time Directors and Directors forming members of the Investment

Committees or having access to investments of the Company.

(ii) an Employee of the Company designated in the level 10 and above globally across

the Company and employees of an equivalent level 10 and above across its

subsidiary(ies) of the following departments:

(a) All departments mentioned in Annexure A and

(b) Sales Account Relationship Management Team;

(c) Sales Alliance Team;

(d) Group Sales and Group Operation Team

(iii) all Employees of the Company of specified departments as per Appendix A,

including secretaries to whole time directors & employees designated in level 12, where

Appendix A shall include following departments:

(a) Sales Relationship Management Team;

(b) Sales Alliance Team;

(c) Group Sales and Group Operations Team”

8. POWERS OF THE COMPLIANCE OFFICER

8.1 In case any suspicious trades comes to the knowledge of the Company, the Compliance

Officer shall have the right to reach out to the relevant Employee or Designated Person/

Connected person in order to obtain necessary information in relation to the transaction

who shall then provide such information to the Compliance Officer. The Compliance

Officer shall be entitled to review the information to ensure compliance of the

Regulations/Code.

8.2 The Compliance Officer shall be entitled to access and review relevant information from

the Company’s concerned business groups or ICICI Securities Limited, including

access to the demat and trading accounts of the Employees and Designated Persons

as the case may be, in order to ensure compliance with the Code and the Regulations.

The Compliance Officer shall have the right to institute a block or freeze on the

Securities held in the demat account(s) in order to prevent trading in them for the

purposes of ensuring compliance with this Code.

9. DISCLOSURE REQUIREMENTS PRESCRIBED UNDER THE REGULATIONS

9.1 Initial disclosures

(a) Every promoter, Director and key managerial personnel will have to disclose

their holding of Securities in the Company, within 30 days of the listing of the

12

Company’s Securities on any recognized stock exchange in the format

prescribed in Form A in this Code.

(b) Every person on appointment as a Director or key managerial personnel or upon

becoming a promoter shall disclose his/her holding of the Securities of the

Company as on the date of appointment as a Director / Key Managerial

Personnel or becoming a promoter, to the Company within seven (7) days of

the occurrence of such event in the format prescribed in Form B in this Code.

9.2 Continual disclosures

(a) Every Promoter, Employee of the Company and Designated Persons shall

disclose to the Compliance Officer the number of Shares of the Company

acquired or disposed off within two (2) Trading Days of such transaction if the

value of the Shares traded whether in one transaction or a series of transactions

over any calendar quarter aggregates to a traded value in excess of INR 1

million. The disclosure will be in the format prescribed in Form C in this Code.

(b) The Compliance Officer shall ensure that the particulars of such Trades are

notified to the stock exchange on which the Shares of the Company are listed

within two Trading Days of receipt of the disclosure or from becoming aware of

such information.

(c) The disclosure of the incremental transactions after any disclosure made under

clause 9.2 shall be made when the transactions effected on the stock exchanges

after the prior disclosure crosses a further INR 1 million each time.

10. REPORTING REQUIREMENTS FOR DESIGNATED PERSONS

10.1 The Compliance Officer may at any time during the year, to ensure compliance with the

Code request for physical or online disclosures from the Designated/Connected

Persons which shall be complied with by the Designated/Connected Persons within

seven (7) working days.

10.2 The Compliance Officer shall maintain records of all the declarations/undertakings/

forms as mentioned in this Code, and received from time to time, for a period of five

(5) Years.

10.3 The Compliance Officer shall take steps for disclosures required under this Code to also

be made through electronic filing in accordance with the system devised by the stock

exchange.

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11. REPORTING REQUIREMENTS OF COMPLIANCE OFFICER TO AUDIT

COMMITTEE/ BOARD

The Compliance Officer shall place before the Audit Committee of the Board of

Directors, all details/instances of violations of this Code that may come to the notice of

the Compliance Officer once in every calendar quarter or on a frequency as may be

determined by the Audit Committee. The Compliance Officer shall report to the Board

of Directors on the matters briefed to the Audit Committee and take any further steps

as may be advised by the Board in this regard and shall also take necessary steps on

any actionables or reports advised or required by the Audit Committee.

12. PENALTY FOR CONTRAVENTIONS

12.1 All Employees and Designated/Connected Persons shall be individually responsible for

complying with the provisions of the Regulations and the Code to the extent applicable.

12.2 In the event of any alleged Violation/Infraction of the Code by any Employee,

Designated/Connected Person or their Immediate Relatives, the Insider Trading

Committee would review the same in light of the facts and circumstances and

determine the next steps in terms of recommendation for action to be initiated,

including the requirement for making an onward reporting to the Audit

Committee/Board. The report setting out such recommendation will be submitted to

the Chief Human Resources. The Chief Human Resources would provide the necessary

report as well as the decisions, actions or measures taken to the Compliance Officer for

being placed before the Audit Committee/Board. The actions or measures can include

a requirement to surrender profits, if any, from the Trading in Securities, or such other

fit and appropriate disciplinary action or measure (including, having regard to the facts

and circumstances or past conduct, if any, imposition of monetary penalties,

withholding of employee benefits and remuneration, suspension or termination of

employment or service such person). Provided however, in the case of a contra trade

i.e entering into opposite transactions within a period of six (6) months the profits from

such Trade shall be liable to be disgorged for remittance to the Board of Directors for

credit to the Investor Protection & Education fund. In addition to the above, any person

violating the provisions of this Code and the Regulations shall be penalized as

prescribed under the Securities and Exchange Board of India Act, 1992 and the

Companies Act, 2013, as amended.

12.3 In respect of any adverse findings regarding a Director, the same would be submitted

to the Audit Committee for its review and decision and would require being reported

to the Board of Directors. Where the action or the measure requires the approval of the

Board of Directors, its approval shall be taken prior to making the action or measure

operational.

14

12.4 Any action by the Company in terms above shall not preclude SEBI from taking any

action for violation of the Regulations.

13. APPELLATE AUTHORITY

Any person aggrieved on account of action initiated by an appropriate authority may

make a representation for final determination to the Appellate Authority. For Designated

Persons below Executive Directors, the Executive Director – Corporate Centre would

be the Appellate Authority; for Directors, Audit Committee would be the Appellate

Authority; and for employees of subsidiary companies, their respective Human

Resources department would be the Appellate Authority. After a review of such

application and decision thereof by the Appellate Authority the same shall be final and

binding.

14. INFORMATION TO SEBI

SEBI shall be informed of the instances of violations of the Regulations including

Schedule II of the Regulations if any, after the same is informed to the Audit Committee

of the Board of Directors.

15

Appendix A

Designated Persons to include all the Employees of the following departments of ICICI

Prudential Life Insurance Company Limited

Sr No. Group/Department

1 Office of MD & CEO, ED’s and Chief Human resources

2 Compliance

3 Finance & Taxation

4 Actuarial

5 Secretarial

7 Investments

8 Internal Audit

9 Corporate Communication

10 Information Technology

16

FORM NO I

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

APPLICATION FOR PRE-CLEARANCE OF TRADING

IN SECURITIES OF ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

(Under ICICI Prudential Life Insurance Company Limited Code of Conduct to regulate, monitor

and report trades in securities by Directors/Employees and Designated persons)

Date : ________________

To : The Compliance Officer

ICICI Prudential Life Insurance Company

Limited

From : __________________________(Name)

__________________________(Emp. No.)

__________________________(PAN)

__________________________(Designation)

__________________________(Department)

Pursuant to clause 5.4 and clause 7.3 of the Code, I hereby seek your approval to purchase/sell

Securities of ICICI Prudential Life Insurance Company Limited or of Other Listed Companies

as per the details given below:

Sr.

No.

Name of the

Director/

Designated

Person/Immediate

Relative proposing

to deal in Securities

Relationship

with

Direct

or/

Designated

Person/ PAN of

Immediate Relative

No. of shares/ Value (in `) of

Bonds

17

I declare that the Securities in respect of which the approval is sought, will be held/have been

held by the above named for a minimum period of six months.

I hereby undertake that:

I do not have any access to nor have received any Unpublished Price Sensitive Information

up to the time of giving this undertaking.

In case I have access to or receive any Unpublished Price Sensitive Information after this

undertaking, but before the execution of the transaction, I shall inform the Compliance

Officer of the change in my position and that I and/or the persons named above would

completely refrain from trading in the Securities till the time such information becomes

public.

I have not contravened the Regulations and the Code. I have made a full and true disclosure

in the matter.

Signature: __________________

---------------------------------------------------------------------------------------------

For Office Use

With reference to the above application, I hereby approve/ reject the application for

____________ number of shares of ICICI Prudential Life Insurance Company Limited/ Bonds of

ICICI Prudential Life Insurance Company Limited for ` _________

Further, the approval is valid only for a period of seven trading days from the date of approval.

Date: Signature of Compliance Officer:

18

FORM NO II

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

REPORTING OF TRADES DONE PURSUANT TO PRE CLEARANCE APPROVAL

(Under ICICI Prudential Life Insurance Company Limited Code of Conduct to regulate, monitor

and report trades in securities by Directors/Employees & Designated persons)

Date : ________________

To : The Compliance Officer

ICICI Prudential Life Insurance Company

Limited

From : __________________________(Name)

__________________________(Emp. No.)

__________________________ (PAN)

__________________________(Designation)

__________________________(Department)

I hereby report that pursuant to the approval of the pre clearance granted to me, the following

trades have been executed:

Name of the Applicant/Immediate Relative in

case the trade is done by the Immediate

Relative of the applicant

PAN of Applicant/immediate relative

Approval date of Pre-Clearance

Approval taken for no.of securities

No. of securities traded (Buy/ Sell)

Market Value of securities traded (Buy/ Sell)

Date of sale/purchase

No of securities not traded( if any) for which

approval has been taken

Reasons for not trading

I hereby state that the above details are correct, true and complete in all respects.

Signature : __________________

_________________________________________________________________________________

19

Reporting of non-execution of pre-cleared Trade

Date : ________________

To : The Compliance Officer

ICICI Prudential Life Insurance Company Limited

From : __________________________(Name)

__________________________(Emp. No.)

__________________________(PAN)

__________________________(Designation)

__________________________(Department)

I, ____________, wish to inform you that the Trade for which approval was granted by you on

_____________,has not been undertaken by me / Immediate Relative due to reasons given

below:

________________

Signature

20

FORM A

SEBI (Prohibition of Insider Trading) Regulations, 2015

[Regulation 7 (1) (a) read with Regulation 6 (2) – Initial disclosure to the

company]

Name of the company:

ISIN of the company:

Details of Securities held by Promoter, Key Managerial Personnel (KMP), Director and other

such persons as mentioned in Regulation 6(2)

Name, PAN, Category of Person Securities held as on the date of % of

CIN/DIN & (Promoters/ KMP/ regulation coming into force Shareholding

address with

Directors/immediat

e Type of security (For eg. No.

contact nos. relative to/others – Shares, Warrants,

etc) Convertible Debentures

etc.)

1 2 3 4 5

Note: “ Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI

(Prohibition of Insider Trading) Regulations, 2015.

Details of Open Interest (OI) in derivatives of the company held by Promoter, Key

Managerial Personnel (KMP), Director and other such persons as mentioned in Regulation

6(2)

Open Interest of the Future contracts held as Open Interest of the Option Contracts held

on the date of regulation coming into force as on the date of regulation coming into

force

Contract Number of Notional value Contract Number of Notional

Specifications units in Rupee terms Specifications units value in

(contracts (contracts Rupee terms

* lot size) * lot size)

6 7 8 9 10 11

Note: In case of Options, notional value shall be calculated based on premium plus strike

price of options

Name:

Signature:

Designation:

Date:

Place:

21

FORM B

SEBI (Prohibition of Insider Trading) Regulations, 2015 [Regulation 7 (1) (b) read with

Regulation 6(2) – Disclosure on becoming a director/KMP/Promoter]

Name of the company:

ISIN of the company:

Details of Securities held on appointment of Key Managerial Personnel (KMP) or Director

or upon becoming a Promoter of a listed company and other such persons as mentioned

in Regulation 6(2).

Name, Category of Person Date of Securities held at the time % of

PAN, (Promoters/ KMP / appointment of becoming Shareholding

CIN/DIN Directors/immediate of Director/ Promoter/appointment of

& relative to/others KMP OR Director/KMP

Address etc.) Date of Type of No.

with becoming security (For

contact Promoter eg. – Shares,

nos. Warrants,

Convertible

Debentures

etc.)

1 2 3 4 5 6

Note: “ Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI

(Prohibition of Insider Trading) Regulations, 2015.

Details of Open Interest (OI) in derivatives of the company held on appointment of Key

Managerial Personnel (KMP) or Director or upon becoming a Promoter of a listed company

and other such persons as mentioned in Regulation 6(2).

Open Interest of the Future contracts held Open Interest of the Option Contracts held at the

at the time of becoming time of becoming Promoter/appointment of

Promoter/appointment of Director/KMP Director/KMP

Contract Number of Notional Contract Number of Notional value in

specifications units value in specifications units Rupee terms

(contracts Rupee (contracts

* lot size) Terms * lot size)

7 8 9 10 11 12

Note: In case of Options, notional value shall be calculated based on premium plus strike

price of options

Name:

Signature:

Designation:

Date:

Place:

22

FORM C

SEBI (Prohibition of Insider Trading) Regulations, 2015 [Regulation 7 (2) read with Regulation 6(2) Continual

disclosure]]]

Name of the company:

ISIN of the company:

Details of change in holding of Securities of Promoter, Employee or Director of a listed company and other such persons as mentioned

in Regulation 6(2).

Name, PAN,

CIN/DIN,

Categor y

of

Securities held

prior

Securities

acquired/Disposed

Securities held

post

Date of

allotment Date of Mode of

&

addresswithcontact Person to acquisition/

acquisition/dispo

sal

advice/

acquisition

intimatio

n

acquisitio

n /

nos.

(Promot

ers/

dispo

sal

of

shares/ to

disposal

(on

KMP / sale of shares

compan

y

market/pu

bli

Directors

/ specify c/ rights/

immed

iate

preferenti

al

relative

offer / off Type of

No.

and Type of

No

.

Valu

e

Transact

ion Type of No. From To

to/other s

securit

y % of

securi

ty

Type

(Buy/

security

(For

and

% market/

etc.) (For eg. share-

(For

eg.

Sale/Pled

ge eg. of Inter-se

Shares,

holdin

g – / Revoke/

Shares,

share

- transfer,

Warran

ts

Share

s, Invoke)

Warran

ts

holdi

ng

ESOPs

etc.)

Conver

-

Warrant

s, ,

ti ble

Conv

ert

Converti

ble

Debent

ur ible

Debentur

es

es etc.)

Debe

nt etc.)

ures

etc.)

23

1 2 3 4 5 6 7 8 9 10 11 12 13 14

Note: “Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI (Prohibition of Insider Trading)

Regulations, 2015.

24

Details of trading in derivatives of the company by Promoter, Employee or Director of a listed company and other such persons as

mentioned in Regulation 6(2).

Trading in derivatives (Specify type of contract,

Futures or Options etc)

Exchange on which the

trade

was executed

Type of Contract Buy Sell

contract

specification

s

Notional

Value

Number of

units

Notional

Value

Number of units (contracts *

lot size)

(contracts *

lot

size)

15 16 17 18 19 20 21

Note: In case of Options, notional value shall be calculated based on

Premium plus strike price of options.

Name:

Signature:

Designation:

Employee Id:

Date:

Place:

25

FORM D (Indicative format)

SEBI (Prohibition of Insider Trading) Regulations, 2015

Regulation 7(3) – Transactions by Other connected persons as identified by the company Details of trading in securities by other connected

persons as identified by the company

Name, PAN,

CIN/DIN,

Connecti

on

Securities held

prior Securities acquired/Disposed Securities held

Date

of Date of Mode of

& address with with

to acquisition/

post allotment

intimatio

n

acquisition/dis

pos

contact nos. of

other company

dispo sal

acquisition/dispos

advic

e/ to al (on

connected al acquisition of company market/public/

persons as

identified

share

s/

rights/Preferen

tial

by the company

sale

of offer /off

share

s

market/Inter-

se

speci

fy

transfer,

ESOPs

Type of

No.

and Type of No.

Valu

e

Transactio

n Type of No. and % From To etc.)

security % of security Type (Buy/

security

(For of

(For eg. share- (For eg. Sale/

eg. –

Shares, share-

– Shares,

holdin

g

Shares,

Pledge/ Warrants,

holding

Revoke/In

vo

Convertibl

e

Warrants

Warrant

s

ke

Debentur

es

Conver-

Conver-

etc.)

tible

tible

Debentu

re

Debent

ur

26

etc.).)

es

etc.).).)

1 2 3 4 5 6 7 8 9 10 11 12 13 14

Note: “Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI (Prohibition of Insider Trading) Regulations, 2015.

27

Details of trading in derivatives by other connected persons as identified by the company

Trading in derivatives (Specify type of contract, Futures or

Options etc)

Exchange on which

the

trade was executed

Type of Contract Buy Sell

Contract

specificatio

ns

Notional

Value

Number of

units(contracts *

Notional

Value Number of units

lot size) (contracts * lot size)

15 16 17 18 19 20 21

Note: In case of Options, notional value shall be calculated based on premium plus strike price of options.

Name:

Signature:

Date:

Place:

CLARIFICATION TO THE CODE OF CONDUCT TO REGULATE, MONITOR AND

REPORT TRADES IN SECURITIES BY DIRECTORS, EMPLOYEES & CONNECTED

PERSONS

Restrictions on contra trade shall also be applicable for securities of other

listed companies (in addition to the Company’s shares)

Restrictions on contra trade shall also be applicable for trading of securities of other

listed companies (other than shares of company and restricted list). In the event, a

contra trade is executed, inadvertently or otherwise, the profits from such trade shall

be liable to be disgorged for remittance to SEBI.