Rating Action by ICRA Ratings Limited

AXIS/CO/CS/436/2022-23

December 7, 2022

Dear Sir(s),

SUB: Rating Action by ICRA Limited

REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("LISTING REGULATIONS").

This is to inform you that credit rating agency ICRA Limited has assigned [ICRA]AAA (Stable) rating to infrastructure bonds/debentures and Basel III Tier II Bonds, and reaffirmed ratings of other debt instruments of the Bank.

The rating rationale letter of ICRA Limited received by the Bank on December 7, 2022 is attached herewith.

You are requested to take the above on record and bring this to the notice of all concerned.

Thanking you.

Yours sincerely,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

Encl.: As above

http://www.rns-pdf.londonstockexchange.com/rns/9557I_1-2022-12-7.pdf