Credit Rating- Revision

Date: September 22, 2026 To, To, BSE Limited National Stock Exchange of India Limited Listing Dept. / Dept. of Corporate Services, Listing Dept., Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No. C/1, G. Block, Bandra-Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Security Code: 544176 Symbol: AADHARHFC Security ID: AADHARHFC Sub: - Intimation of credit rating assigned by ICRA Limited. Dear Sir/Madam, Pursuant to Regulation 30(6) and 51(2) read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, we wish to inform you that ICRA Limited (“ICRA”) has communicated revision in rating and outlook as shown below for various instruments of the Company. Details of credit rating by ICRA Limited Current rating details Sr. ISIN Amount Credit Outlook Rating Specify Date of Verificatio Date of No rated rating (Stable/ Action other Credit n status of verification (Rs. in assigned Positive/ (New/ rating rating Credit Cr.) Negative/ Upgrade/ action Rating No Downgrade/ Agencies Outlook) Re-Affirm/ Other) 1 2 3 4 5 6 7 8 9 10 1 Non- 2,231.63 ICRA AA+ Stable Upgraded to NA 22.09.2026 Yes 22.09.2026 Convertible ICRA AA+ Debentures# and outlook revised to Stable from Positive 2 Long term 1,350.00 ICRA AA+ Stable Upgraded to NA 22.09.2026 Yes 22.09.2026 bank ICRA AA+ facilities and outlook revised to Stable from Positive 3 Subordinated 60.00 ICRA AA+ Stable Upgraded to NA 22.09.2026 Yes 22.09.2026 debt# ICRA AA+ and outlook revised to Stable from Positive 4 Commercial 600.00 ICRA A1+ No Reaffirmed NA 22.09.2026 Yes 22.09.2026 Paper# Outlook Total 4,241.63 #Under various series Further, we wish to inform you that ICRA has withdrawn the ratings assigned to the Non-Convertible Debentures amounting to Rs. 504.40 crores pursuant to the redemption of the Non-Convertible Debentures. The copies of the rating letters received from ICRA are attached herewith. Date and time of occurrence of event/information: September 22, 2026 and 12:30 P.M Kindly note the same and take the above information on your record. Thanking you. For Aadhar Housing Finance Limited Harshada Pathak Company Secretary and Compliance Officer CC: Debenture Trustees- a) Beacon Trusteeship Limited b) IDBI Trusteeship Services Limited ICRA/Aadhar Housing Finance Limited/22092026/1 September 22, 2026 Mr. Rishi Anand Managing Director & Chief Executive Officer Aadhar Housing Finance Limited 501 & 503, Lightbridge, Saki Vihar Road, Tunga Village, Chandivali, Powai, Mumbai-400072 Dear Sir, Re: instruments(details in Annexure) of Aadhar Housing Finance Limited following rating actions for the mentioned instruments of your company. Rated Financial Instrument Amount Rating Action1 sector (Rs. crore) regulator# Non-convertible debentures [ICRA]AA+ (Stable); upgraded and outlook revised to 2,131.63 SEBI (NCDs) Stable [ICRA]AA+ (Stable); upgraded and outlook revised to NCDs 100.00 MCA Stable [ICRA]AA+ (Stable); upgraded and outlook revised to Subordinated debt 60.00 SEBI Stable Total 2,291.63 vailable for activities and instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI Once the instrument is issued, the rating is valid throughout the life of the captioned programme until withdrawn. However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRAwebsiteatwww.icra.infor latest rating(s) of the company. The rating(s) arespecific to the terms and conditions of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review,following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would constitute an enhancement that would not be covered by or under the said Rating Agreement. The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated instrumentsavailed/issued by your company. 1Complete definitions of the ratings assigned are available at www.icra.in. ICRA Limited Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. +91-11-23357940-41 Building No. 8, 2nd floor, Tower A, DLF Cyber City, Phase II, Gurugram-122002 www.icra.in info@icraindia.com +91-93547-38909 Sensitivity Label : Confidential +0124-4545300 CIN: L74999DL1991PLC042749 You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulementor postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded. In line with SEBI Circular No. SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2024/160 dated November 18, 2024, issuers are encouraged to utilize the penny-drop verification service as provided by banks. This measure is intended to prevent payment failures when disbursing principal and/or interest to respective investors or debenture holders. Penny-drop verification serves as an efficient method for confirming the bank account details of persons designated to receive payments. Once an account has been verified through this facility, it can be used for subsequent transactions related to interestand principal payments, thereby ensuring successful remittance and avoiding failure. We look forward to your communication and assure you of our best services. With kind regards, Yours sincerely, For ICRA Limited Deep Inder Singh Vice President Co-Group Head Financial Sector Ratings deep.singh@icraindia.com Sensitivity Label : Confidential Annexure List of all instruments rated Rated instrument ISIN Rated amount Rating NCD programme INE538L07379 5.00 [ICRA]AA+ (Stable) NCD programme INE538L07528* 9.55 [ICRA]AA+ (Stable) NCD programme INE538L07536* 11.68 [ICRA]AA+ (Stable) NCD programme INE883F07322 100.00 [ICRA]AA+ (Stable) NCD programme INE883F07330 300.00 [ICRA]AA+ (Stable) NCD programme INE883F07348 145.00 [ICRA]AA+ (Stable) NCD programme INE883F07363 350.00 [ICRA]AA+ (Stable) NCD programme INE883F07389 200.00 [ICRA]AA+ (Stable) NCD programme INE883F07405 200.00 [ICRA]AA+ (Stable) NCD programme INE883F07413 250.00 [ICRA]AA+ (Stable) NCD programme INE883F07421 350.00 [ICRA]AA+ (Stable) NCD programme Not Placed 10.40 [ICRA]AA+ (Stable) NCD programme Not Placed 50.00 [ICRA]AA+ (Stable) NCD programme Not Placed 250.00 [ICRA]AA+ (Stable) Subordinated debt INE538L08054 10.00 [ICRA]AA+ (Stable) Subordinated debt INE538L08062 3.00 [ICRA]AA+ (Stable) Subordinated debt INE538L08070 15.00 [ICRA]AA+ (Stable) Subordinated d [Showing first 8,000 characters — download PDF for full document]