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/225/2026-27

July 7, 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 ("AT 1 Notes") issued by Axis Bank, Gift City Branch under the Bank's GMTN programme. The said AT 1 Notes will be consolidated and form a single series with the U.S.$500,000,000 6.875 per cent. Additional Tier 1 Notes issued on June 30, 2026.

The rating rationale letter is attached herewith.

http://www.rns-pdf.londonstockexchange.com/rns/3609L_1-2026-7-7.pdf

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

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