We report the observation of exciton formation from the cooled band-edge carriers in mixed two-dimensional hybrid organic-inorganic perovskites using femtosecond transient absorption spectroscopy. By monitoring the changes of bleach signal upon excitations with various photon energy, we are able to extract the values of exciton binding energy and the occupancies of carriers of free and bound states for each two-dimensional phase. We also confirm the existence of Mahan exciton when injected carrier density is above the Mott criterion.