Credit Rating

TVS Holdings Limited Registered Office: “Chaitanya”, No. 12, Khader Nawaz Khan Road, [Formerly known as Sundaram-Clayton Limited] Nungambakkam, Chennai – 600006 PH: 044 28332115 5th September 2026 BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Bandra-Kurla Complex, Mumbai 400 001. Bandra (E), Mumbai 400 051. Scrip code: 520056 Scrip code: TVSHLTD Dear Sir/Madam, Reg. : Intimation of Credit Rating under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that CARE Ratings Limited have, vide its letter dated 4th September 2026, has assigned / reaffirmed the ratings in respect of the Company’s instruments as per details below: Amount S. No Facilities Rating Ration Action (in Cr) Non-Convertible 1. Redeemable Preference 930.68 CARE AA+; Stable Assigned Shares Non-Convertible 2. 750 CARE AA+; Stable Reaffirmed Debentures – I Non-Convertible 3. 200 CARE AA+; Stable Reaffirmed Debentures – II The communications received from the rating agency are enclosed herewith. Thanking you, Yours faithfully, For TVS Holdings Limited R Raja Prakash Company Secretary Encl: a/a Website: www.tvsholdings.com Email: corpsec@tvsholdings.com CIN: L64200TN1962PLC004792 No. CARE/HO/RL/2026-27/2625 Shri K Gopala Desikan Director & Group CFO TVS Holdings Limited No 12, Chaitanya, Khader Nawaz Khan Road Nungambakkam Chennai Tamil Nadu 600006 September 04, 2026 Confidential Dear Sir, Credit rating for proposed Cumulative Non-Convertible Redeemable Preference Share issue Please refer to your request for rating of proposed long-term Cumulative Non-convertible Redeemable Preference Shares (NCRPs) issue aggregating to Rs.930.68 crore of your Company. 2. The following ratings have been assigned by our Rating Committee: Amount Sr. No. Instrument Rating1 Rating Action (₹ crore) Non Convertible 1. Redeemable Preference 930.68 CARE AA+; Stable Assigned Share 3. Please arrange to get the rating revalidated, in case the proposed issue is not made within a period of six months from the date of our initial communication of rating to you (that is Sep 04, 2026) 4. In case there is any change in the size or terms of the proposed issue, please get the rating revalidated. 5. Please inform us the below-mentioned details of issue immediately, but not later than 7 days from the date of placing the instrument: Name and Issue Coupon contact Details Instrument Size Coupon Terms of Redemption ISIN Payment details of of top 10 type (Rs Rate Redemption date Dates Debenture investors Trustee 1Complete definitions of the ratings assigned are available at www.careratings.com and in other CARE Ratings Ltd.’s publications. CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 1 of 3 6. Kindly arrange to submit to us a copy of each of the documents pertaining to the issue, including the offer document and the trust deed. 7. The rating report for the rating will be communicated to you separately. 8. CARE Ratings Ltd. reserves the right to undertake a surveillance/review of the rating from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year. 9. CARE Ratings Ltd. reserves the right to revise/reaffirm/withdraw the rating assigned as also revise the outlook, as a result of periodic review/surveillance, based on any event or information which in the opinion of CARE Ratings Ltd. warrants such an action. In the event of failure on the part of the entity to furnish such information, material or clarifications as may be required by CARE Ratings Ltd. so as to enable it to carry out continuous monitoring of the rating of the bank facilities, CARE Ratings Ltd. shall carry out the review on the basis of best available information throughout the life time of such bank facilities. In such cases the credit rating symbol shall be accompanied by “ISSUER NOT COOPERATING”. CARE Ratings Ltd. shall also be entitled to publicize/disseminate all the afore-mentioned rating actions in any manner considered appropriate by it, without reference to you. 10. Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades. 11. Users of this rating may kindly refer our website www.careratings.com for latest update on the outstanding rating. 12. Our ratings are not recommendations to buy, sell or hold any securities. 13. If you need any clarification, you are welcome to approach us in this regard. We are indeed, grateful to you for entrusting this assignment to CARE Ratings Ltd. Thanking you, Yours faithfully, Pulkit Jain Akansha Akshay Jain Rating Analyst Associate Director CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 2 of 3 Pulkit Jain Akansha Akshay Jain pulkit.jain@careedge.in akansha.jain@careedge.in Encl.: As above Disclaimer This disclaimer pertains to the ratings issued and content published by CARE Ratings Limited (“CareEdge Ratings”). Ratings are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse, or recall the concerned bank facilities or to buy, sell, or hold any security. Any opinions expressed herein are in good faith and are subject to change without notice. The rating reflects the opinions as on the date of the rating. A rating does not convey suitability or price for the investor. The rating agency does not conduct an audit on the rated entity or an independent verification of any information it receives and/or relies on for the rating exercise. CareEdge Ratings has based its ratings/outlook on the information obtained from reliable and credible sources. CareEdge Ratings does not, however, guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. The users of the rating should rely on their own judgment and may take professional advice while using the rating in any way. CareEdge Ratings shall not be liable for any losses that user may incur or any financial liability whatsoever to the user of the rating. The use or access of the rating does not create a client relationship between CareEdge Ratings and the user. CAREEDGE RATINGS DISCLAIMS WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR OTHER WARRANTIES OR CONDITIONS, TO THE EXTENT PERMITTED BY APPLICABLE LAWS, INCLUDING WARRANTIES OF MERCHANTABILITY, ACCURACY, COMPLETENESS, ERROR-FREE, NON- INFRINGEMENT, NON-INTERRUPTION, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE OR INTENDED USAGE. Most entities whose bank facilities/instruments are rated by CareEdge Ratings have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CareEdge Ratings or its subsidiaries/associates may also be involved with other commercial transactions with the entity. CareEdge Ratings does not act as a fiduciary by providing the rating. The ratings are intended for use only within the jurisdiction of India. The ratings of CareEdge Ratings do not factor in any rating-related trigger clauses as per the terms of the facilities/instruments, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and triggered, the ratings may see volatility and sharp downg [Showing first 8,000 characters — download PDF for full document]