Credit Rating- New

July 15, 2026 Ref: NIVABUPA/EQ/2026-27/20 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block-G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai-400 051 Mumbai-400 001 Symbol: NIVABUPA Scrip Code: 544286 Sub: Issuer rating assigned by ICRA Limited Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Dear Sir/Madam, Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI Listing Regulations, we hereby inform you that ICRA Limited vide its letter dated July 15, 2026, has assigned the Issuer Rating of “[ICRA]AAA(Stable)” to the Company. The said letter as received by the Company on July 15, 2026 at 02:24 P.M. (IST), is enclosed herewith. The above information will be made available on website of the Company at www.nivabupa.com . Kindly take the same on record. Thanking you, Yours’ Faithfully, For Niva Bupa Health Insurance Company Limited Aparna Sharma Company Secretary and Compliance Officer Niva Bupa Health Insurance Company Limited IRDAI Registration No. 145 | CIN: L66000DL2008PLC182918 Registered Office: C-98, First Floor, Lajpat Nagar, Part 1, Delhi-110024 Corporate Office: 3rd Floor, Capital Cyber scape, Golf Course Extension Road, Sector-59, Gurugram-122101, Haryana. Website: www.nivabupa.com | Email id: investor@nivabupa.com I Tel: +91-124-6354900 ICRA Limited ICRA/Niva Bupa Health Insurance CompanyLimited/15072026/1 Date:July 15, 2026 Mr. Vishwanath Mahendra Chief Financial Officer, 3F, Capital Cyberscape, Golf Course Extension Road, Sector 59, Gurugram, Haryana-122102 DearSir, Re: ICRA'sCreditRatingforbelowmentionedInstrumentsofNiva Bupa Health Insurance CompanyLimited As per the Rating Agreement/Statement of Work executed with ICRA Limited, Rating Committee has taken the following rating actions for the mentioned instruments of your company. Instrument RatedAmount(Rs.Crore) RatingAction[1] FinancialSectorRegulator#(FSR) Issuer Rating - [ICRA]AAA(Stable);assigned - Total - # grievanceredressal/disputeresolutionandSEBIinvestorprotectionmechanismssuchasSCORESandODRshallnotbeavailableforactivitiesand instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI. The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter. 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 ICRA website at www.icra.in for latest rating(s) of the company. The rating(s) are specific 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 instrument availed/issued by your company. 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- schedulement or 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. [1]Completedefinitionsoftheratingsassignedareavailableatwww.icra.in. Sensitivity Label : Restricted 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. We look forward to your communication and assure you of our best services. Withkindregards Yours sincerely, For ICRA Limited ANIL GUPTA Senior Vice President anilg@icraindia.com Sensitivity Label : Restricted Annexure: Instrument details Instrument Coupon Amount rated Current rating and ISIN Date of issuance Maturity FSR name rate (Rs. crore) outlook NA Issuer Rating NA NA NA - [ICRA] AAA (Stable) - Sensitivity Label : Restricted