Mahindra & Mahindra Financial Services Limited announced that Reserve Bank of India's Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices dated 7th November 2023, inter alia, stipulates that Company is required to appoint "Head of Information Technology" (by whatever name called Chief Technology Officer or Chief Information Officer). Pursuant to the above, the Chief Information Officer ("CIO") position in the Company will be subsumed under Head of IT Function by Ms. Deepa Ranjeet, Chief Digital Officer ­ Financial Services Sector, Senior Management Personnel ("SMP") and Head of IT Function of the Company directly taking over the responsibilities of CIO with effect from 5th June 2024. Consequently, Mr. Dinesh Gangwani, CIO of the Company who is reporting to Ms. Deepa Ranjeet has ceased to be CIO and SMP of the Company from the said date.

He would continue to assist Ms. Deepa Ranjeet in overseeing the Information Technology matters coming under his purview. Date of change is June 5, 2024.