Credit Rating- New

October 01, 2026 BSE Limited (“BSE”) National Stock Exchange of India Limited (“NSE”) Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Scrip Code: 544936 Symbol: HEROMOTORS ISIN: INE012G01022 ISIN: INE012G01022 Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015- Credit Rating Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that CRISIL Ratings Limited (“CRISIL”), a credit rating agency vide its letter having Ref No. RL/HEROML/405311/BLR/0926/160323 dated September 30, 2026, has assigned/reaffirmed the Credit ratings outstanding for the debt instruments/ Bank loan facilities of Hero Motors Limited, as per the details given below: Total Bank Loan Facilities Rated Rs. 400 Crores Long Term Rating Crisil A+/Stable (Reaffirmed) Short Term Rating Crisil A1 (Reaffirmed) Kindly take the same on your record. Thanking You. Your faithfully For and on behalf of Hero Motors Limited Sakshi Dureja Company Secretary & Compliance officer Encl: Credit Rating Letter from CRISIL dated September 30, 2026 Hero Motors Limited Registered Office: Hero Nagar, G.T. Road, Ludhiana-141003 GBN Plant: 10th K.M. Stone, G.T. Road, P.O. Dujana-203207, Tehsil Dadri, Distt. Gautam Budh Nagar, Uttar Pradesh; Ph: +0120 2674207, +0120 2674208 Corporate Office: C3-C, 7th Floor, Max Square Building, Sector 129, Noida-201304 CIN: U29299PB1998PLC039602 | Website: www.heromotors.com | Email: info@heromotors.com | Tel.: 0161-5026969 CONFIDENTIAL RL/HEROML/405311/BLR/0926/160323 September 30, 2026 Mr. Utkarsh Sanghi Chief Financial Officer Hero Motors Limited 10th KM Stone, GT Road, P.O Dujana, Dadri Gautam Buddha Nagar - 203207 9811479802 Dear Mr. Utkarsh Sanghi, Re: Review of Crisil Ratings on the bank facilities of Hero Motors Limited All ratings assigned by Crisil Ratings are kept under continuous surveillance and review. Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by Crisil Ratings on the ratings as on date. Total Bank Loan Facilities Rated Rs.400 Crore Long Term Rating Crisil A+/Stable (Reaffirmed) Short Term Rating Crisil A1 (Reaffirmed) (Bank-wise details as per Annexure 1) As per our Rating Agreement, Crisil Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. Crisil Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which Crisil Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s. In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from Crisil Ratings will be necessary. Crisil Ratings products / activities or ratings of instruments other than securities that are listed or proposed to be listed may fall under the purview of financial sector regulators (FSRs) other than SEBI. In respect of such products / activities or ratings (under the purview of other FSRs such as Reserve Bank of India (RBI), Ministry of Corporate Affairs (MCA), Insurance Regulatory and Development Authority of India (IRDAI), among others), the grievance / dispute redressal and investor protection mechanisms available under SEBI regulations shall not be applicable. A list of products/activities or ratings of instruments falling under the purview of various FSRs along with the names of respective FSRs has been duly disclosed by Crisil Ratings on its website. A link to the same has been provided below for ready reference: https://www.crisilratings.com/en/home/our-business/ratings/regulatory-disclosures/list-of-activities-instruments-and- names-of-regulators.html Should you require any clarification, please feel free to get in touch with us. With warm regards, Yours sincerely, Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by Crisil Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at Crisilratingdesk@crisil.com or at 1800-267-3850 Anil More Nivedita Shibu Associate Director - Crisil Ratings Director - Crisil Ratings Annexure 1 - Bank-wise details of various facility classes (outstanding facilities) Amount (Rs. S.No. Bank Facility Bank Outstanding Rating in Crore) External Commercial 1 Axis Bank Limited 20.85 Crisil A+/Stable Borrowings Kotak Mahindra Bank 2 Foreign Exchange Forward 3 Crisil A1 Limited 3 Foreign Exchange Forward Axis Bank Limited 12.04 Crisil A1 Kotak Mahindra Bank 4 Overdraft Facility 20 Crisil A+/Stable Limited 5 Term Loan Standard Chartered Bank 37.66 Crisil A+/Stable 6 Term Loan Axis Bank Limited 43.15 Crisil A+/Stable 7 Term Loan ICICI Bank Limited 37.73 Crisil A+/Stable Kotak Mahindra Bank 8 Term Loan 23 Crisil A+/Stable Limited Kotak Mahindra Bank 9 Working Capital Facility 30 Crisil A+/Stable Limited 10 Working Capital Facility Axis Bank Limited 162.96 Crisil A+/Stable 11 Working Capital Facility Standard Chartered Bank 9.61 Crisil A+/Stable Total 400 Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by Crisil Ratings, please visit www.crisilratings.com or contact Custom [Showing first 8,000 characters — download PDF for full document]