Credit Rating

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL

AXIS/CO/CS/187/2026-27

June 24, 2026

Dear Sir/Madam,

SUB.: RATING ACTION BY S&P GOLBAL RATINGS

REF: REGULATION 30 READ WITH SCHEDULE III OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

In furtherance to our letter bearing reference number AXIS/CO/CS/493/2025-26 dated December 26, 2025, we wish to inform you that in relation to the existing Global Medium Term Notes ("GMTN") of Axis Bank Limited (the "Bank"), S&P Global Ratings ("S&P") has assigned "BB-" to the Additional Tier 1 Notes (AT1 Notes) and "BBB" rating to the Senior Notes issued by Axis Bank, Gift City Branch under the Bank's GMTN programme.

The rating rationale letters are attached herewith.

This is for your information and records.

Thanking You.

Yours faithfully,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

CC: London Stock Exchange

Singapore Stock Exchange

DISCLAIMER:

A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction, or withdrawal at any time by the assigning rating organization. Similar ratings on different types of securities do not necessarily mean the same thing. The significance of each rating should be analysed independently from any other rating.http://www.rns-pdf.londonstockexchange.com/rns/5450J_1-2026-6-24.pdf