UTI Asset Management Company Limited announced that Mr. Surojit Saha will retire from the service of the Company with effect from close of business hours on 30 September, 2023 on attaining the retirement age as per the Company's policy and consequently, he would cease to be the Chief Financial Officer and Key Managerial Personnel of the Company. Based on the recommendation of the Nomination and Remuneration Committee and approval of the Audit Committee, the Board of Directors have, in its meeting held on 25 July, 2023 approved the appointment of Mr. Vinay Lakhotia as Chief Financial Officer and Key Managerial Personnel of the Company with effect from 1st October, 2023 in line with the Company's succession planning and in compliance with Section 203 and other applicable provisions of the Companies Act, 2013 read with rules made thereunder and Regulation 26A and other applicable provisions of the SEBI Listing Regulations read with circular issued thereon. The Board also placed on record their sincere appreciation for the invaluable contribution made by Mr. Saha as Chief Financial Officer of the Company.

Mr. Lakhotia is not related to any Director on the Board of the Company. Mr. Vinay Lakhotia is the Head of Operations of UTI Asset Management Company Limited (UTI AMC /the Company). He is presently heading the function of Fund Accounts & Investor Service Management in the Company.

His area of expertize includes financial reporting & analysis, financial & management accounting, budgeting & MIS, operations management, automation to streamline processes, strategic planning, stakeholder engagements, system and process developments, due diligence strengthen internal control, innovation in services and processes, digital transformations, audit /compliance & taxations, risk management and operational efficiency. He has played a key role in automation of system and process both at UTI Mutual fund as well as the UTI unit of Kfintech. He has also represented UTI Mutual Fund in the AMFI Valuation committee Board and Ops Committee.

He has also been instrumental in successfully migrating ILFS schemes to UTI Mutual fund upon acquisition of ILFS schemes by the Company and has worked with renewed consultant for business transformation projects of the Company. Mr. Lakhotia was also one of the key members in the IPO and listing of UTI Asset Management Company Limited by working with investment bankers, lawyers, broker and handling numerous sales meeting with prospective investors and research analyst. He holds a B.Com (Honours) degree from St.

Xavier's College, Kolkata. He is an all India rank holder Chartered Accountant and an associate of the Institute of Chartered Accountants of India. He was also awarded the Chartered Financial Analyst designation from the CFA institute in August 2008.

He joined Erstwhile UTI on 15th July, 1999 and was subsequently transferred to the Company with effect from 15 January, 2003.