ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730) and BSE Ltd (Member Code :103) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The information mentioned herein above is only for consumption by the client and such material should not be redistributed. The Company has received investment banking related mandate from Reliance Industries Ltd. The mailer has been prepared basis on public available information.

The information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. The contents of this mail are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. While due care has been taken in preparing this mail, I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. This mail is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or licensing requirement within such jurisdiction.

This is not an offer for sale in the United States. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “US Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The securities are being offered and sold (i) in offshore transactions outside the United States in compliance with Regulation S to existing shareholders located in jurisdictions where such offer and sale of the rights equity shares is permitted under laws of such jurisdictions and (ii) in the United States to U.S. QIBs pursuant to Section 4(a)(2) of the US Securities Act and other exemptions from the registration requirements of the US Securities Act. The Global Co-ordinators and Lead Managers and the Lead Managers (as defined in the Letter of Offer) will not participate or otherwise be involved with any offers or sales of securities with respect to the Issue within the United States. Reliance Industries Limited (the "Company") is proposing, subject to market conditions and other considerations, a rights issue of its equity shares, and has filed a letter of offer dated May 15, 2020 ("Letter of Offer") with the Securities and Exchange Board of India, BSE Limited ("BSE") and National Stock Exchange of India Limited (“NSE” together with BSE, "Stock Exchanges"). The Letter of Offer is available on the website of SEBI at www.sebi.gov.in, on the websites of the Global Co-ordinators and Lead Managers, JM Financial Limited and Kotak Mahindra Capital Company Limited at www.jmfl.com and www.investmentbank.kotak.com, respectively, and on the websites of Lead Managers, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, DSP Merrill Lynch Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IDFC Securities Limited, J.P. Morgan India Private Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited at www.axiscapital.co.in, www.bnpparibas.co.in, www.ml-india.com, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, www.goldmansachs.com, www.hdfcbank.com, https://www.business.hsbc.co.in/en-gb/in/generic/ipo-open-offer-and-buyback, www.icicisecurities.com, www.idfc.com/capital/index.htm, www.jpmipl.com, www.morganstanley.com/about-us/global-offices/asia-pacific/india and www.sbicaps.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to the section titled "Risk Factors" of the Letter of Offer for details of the same.