Credit Rating

Mahindra & Mahindra Financial Services Ltd. Mahindra Towers, 3rd Floor, Dr. G. M. Bhosale Marg, Worli, Mumbai 400 018 India Tel: +91 22 66526000/3500 08th October 2026 BSE Limited National Stock Exchange of India Ltd. (Scrip Code: 532720) (Symbol: M&MFIN) Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, "G" Block, Dalal Street, Fort, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Dear Sir/Madam, Sub: Intimation under Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) – Reaffirmation of Credit Ratings. In compliance with the provisions of Regulation 30(6) read with Schedule III and other applicable provisions of the SEBI Listing Regulations, as amended from time to time, please take note of the following ratings received by the Company on 07th October 2026 from CRISIL Ratings Limited at 11:40 a.m. (IST), India Ratings & Research Private Limited at 03:47 p.m. (IST) and CARE Ratings Limited at 01:16 p.m. (IST) respectively , at the request made by the company: CRISIL Ratings Limited: S.N. Instrument Rated Amount Rating Outstanding 1) C ommercial Paper INR 20,000 Crore CRISIL A1+ 2) N on- Convertible Debentures INR 30,980 Crore CRISIL AAA/ Stable 3) S ubordinated Debt INR 6,000.50 Crore CRISIL AAA/ Stable India Ratings & Research Private Limited: S.N. Instrument Rated Amount Rating Outstanding 1) B ank Loans INR 800,000 mn IND AAA/Stable/IND A1+ 2) F ixed Deposits INR 200,000 mn IND AAA/Stable 3) N on-convertible Debentures INR 490 bn IND AAA/ Outlook Stable 4) R etail Non-convertible INR 80 bn IND AAA/ Outlook Stable Debentures 5) P rivate Sub Debt INR 104.5 bn IND AAA/ Outlook Stable 6) P rincipal protected Market INR 15 bn IND PP-MLD AAA/Stable Linked Debentures 7) R etail Subordinate Debt INR 30 bn IND AAA/ Outlook Stable 8) C ommercial Paper INR 200,000 mn IND A1+ Page 2 CARE Rating Limited: S.N. Instrument Rated Amount Rating Outstanding 1) L ong Term / Short Term Bank INR 50,000 Crore CARE AAA; Stable / CARE A1+ facilities 2) S ecured non-convertible INR 11,686.50 Crore CARE AAA; Stable debenture (NCD Privately Placed) 3) U nsecured non-convertible INR 1,000 Crore CARE AAA; Stable debenture (NCD privately placed) 4) S ubordinated debt (privately INR 2,385 Crore CARE AAA; Stable placed) 5) L ong-term debt programme INR 4,059.03 Crore CARE AAA; Stable (public issue non-convertible debentures/subordinated debt) This information is also being uploaded on the website of the Company at URL: https://www.mahindrafinance.com/investor-relations/debt-information#credit-ratings You are requested to take the same on record. Thanking you, For Mahindra & Mahindra Financial Services Limited Brijbala Batwal Company Secretary FCS: 5220