Disclosure - Update regarding judgement of the Hon''ble Supreme Court of India in relation to Additional Tier-1 Bonds

✓vESBANK YBL/CS/2026-27/128 October 30, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relations Department Exchange Plaza, Plot no. C/1, G Block, P.J. Towers, Dalal Street Bandra - Kurla Complex, Bandra (E) Mumbai – 400 001 Mumbai - 400 051 BSE Scrip Code: 532648 NSE Symbol: YESBANK Dear Sir/Madam, Sub: Disclosure – Update regarding judgment of the Hon’ble Supreme Court of India in relation to Additional Tier-1 Bonds Ref: Regulation 30, Regulation 51 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”). We refer to the prior disclosures made by YES Bank Limited (the “Bank”) including on October 15, 2026, October 16, 2026, October 18, 2026 and October 24, 2026 regarding the judgment delivered by the Hon’ble Supreme Court regarding the Tier 1 (AT-1) Bonds issued by the Bank (the “SC Judgement”). As previously disclosed, the Bank is examining the judgment in detail, including evaluating all legal options and suitable actions / steps going forward. We wish to disclose that the Bank has also communicated with Axis Trustee Services Limited (in its capacity as the trustee for the AT-1 Bonds issued by the Bank) (the “Trustee”) as regards the SC Judgement on October 18, 2026 and October 24, 2026. The Trustee has subsequently on October 28, 2026 issued a letter to the Bank (the “Letter”), in terms of which, the Trustee has called upon the Bank to re-instate the AT-1 Bonds and take all necessary corporate actions within 3 (three) days. The Trustee has also stated in its Letter that unless such steps are taken within the timelines specified in the Letter, the Trustee will be constrained to initiate contempt proceedings before the Hon’ble Supreme Court of India against the Bank and its directors and officers without further notice on the grounds of wilful disobedience by the Bank of the SC Judgement. The Bank has responded to the Letter on October 30, 2026 (“Reply”) informing the Trustee that the Bank acknowledges the SC Judgment and reiterated that the Bank is fully committed to act in accordance with the SC Judgment and applicable law. The Bank has informed the Trustee that the Bank is cognizant of the matters and is examining the SC Judgment and its implications in detail. The Bank will take all such steps and measures as are necessary and permissible under applicable law. A copy of the Trustee’s Letter and the Bank’s Reply are enclosed herewith and the Bank will continue making the requisite disclosures as may be required under the Listing Regulations. www.11es.bank.in I shareholders@yes.bank.in I Tel: +91 (22) 5091 9800/6507 9800 YES BANK Limited, YES BArJK House, Off western Express Highway, Santacruz (E), Mumbai -400055 ON: L65190MH2003PLC143249 ✓vESBANK The weblink of BSE Limited and National Stock Exchange of India Limited providing the above information is being hosted on the Bank’s website www.yes.bank.in pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Kindly take note of the above. Thanking you, Yours faithfully, For YES BANK LIMITED Sanjay Abhyankar Company Secretary Encl.: 1. Annexure A – Letter issued by Axis Trustee Services Limited on October 28, 2026 2. Annexure B – Bank’s reply to the aforesaid letter dated October 30, 2026 www.11es.bank.in I shareholders@yes.bank.in I Tel: +91 (22) 5091 9800/6507 9800 YES BANK Limited, YES BArJK House, Off western Express Highway, Santacruz (E), Mumbai -400055 ON: L65190MH2003PLC143249 Annexure A ATSUCO/2026-2027/ 8356 October 28 2026 YES Bank Limited YES BANK House, Off Western Express Highway, Santacruz (East), Mumbai 400 055. Kind Attn.: (i) The Managing Director & Chief Executive Officer (ii) The Company Secretary & Compliance Officer (iii) The Board of Directors Dear Sir/Madam, Sub: Non-compliance with the judgment dated 15th October 2026 delivered by the Hon'ble Supreme Court of India. confirming the restoration of the Basel Ill Compliant Additional Tier I Bonds (Perpetual Non Convertible Debentures) issued by YES Bank Limited aggregating to Rs. 8415 crores and stating that payment of annual coupon rate shall remain unaffected. Ref: 1. ISIN INE528G08352 and ISIN INE528G08394. 2. Information Memorandum dated 22nd December 2016, and Debenture Trust Deed dated 15th March 2017 in respect of ISIN INE528G08352. 3. Information Memorandum dated 17th October 2017, and Debenture Trust Deed dated 28th December 2017 in respect of ISIN INE528G08394. 4. In the Supreme Court of India Civil Appeal No. 3182 of 2025 Yes Bank Limited & Anr. ... Appellants Axis Trustee Services Limited & Ors. . .. Respondents 5. In the Supreme Court of India Civil Appeal Nos. 3183-3192 of 2025 Reserve Bank of India ... Appellant Axis Trustee Services Limited & Ors. . .. Respondents 6. In the Supreme Court of India Civil Appeal Nos. 3193-3202 of 2025 Yes Bank Limited & Anr. . .. Appellants lndiabulls Housing Finance Limited & Ors. . .. Respondents Registered Office: Axis House, PB Marg, Worli, Mumbai, Maharashtra, India, 400025 Corporate Office: Delhi Office, 2nd Floor, Plot No. 25, Pusa Road, Karol Bagh, New Delhi -110005 Tel No: 011 43556440 I Email Id -debenturetrustee@axistrustee.in I Website -www.axistrustee.in Corporate Identify Number: U74999MH2008PLC182264 I MSME Registered UAN: MH190046029 7. In the Supreme Court of India Civil Appeal Nos. 3203-3212 of 2025 Union of India ...A ppellant Axis Trustee Services Limited & Ors. . .. Respondents 8. Judgment dated 15th October 2026 delivered by the Hon'ble Supreme Court of India in the above appeals. 9. Judgment dated 20th January 2023 delivered by the Hon'ble Bombay High Court in Writ Petition No. 785 of 2021 and connected matters. 10. Your disclosures to BSE Limited and National Stock Exchange of India Limited dated 16th October 2026 and 24th October 2026 (Ref. No. YBUCS/2026-27 /124 ). ------------------------------ --- - --------------------------- 1. We, Axis Trustee Services Limited, are the Debenture Trustee under the Debenture Trust Deeds dated 15th March 2017 (for 30,000 debentures) and 28th December 2017 (for 54,150 debentures) in respect of the Basel Ill Compliant Additional Tier I Bonds (Perpetual Non-Convertible Debentures) bearing ISIN INE528G08352 and ISIN INE528G08394, aggregating to Rs. 8,415 crores ("the said Bonds"), issued by you, YES Bank Limited ("the Bank"), under the Information Memoranda dated 22nd December 2016 and 17th October 2017 respectively ("the Information Memoranda"). We were the Respondent in the above referenced appeals. We address this notice to you in our capacity as Debenture Trustee, for and on behalf of the bondholders. 2. As you are aware, we had challenged the decision of the Administrator of the Bank, communicated by letter dated 14th March 2020, to write down the said Bonds ("the impugned decision") before the Hon'ble Bombay High Court in Writ Petition No. 785 of 2021. By its judgment dated 20th January 2023, the Hon'ble Bombay High Court quashed and set aside the impugned decision. The relevant extract of the judgment is reproduced herein for ready reference: "101.ln light of the above discussion, the impugned letter dated March 14, 2020 and decision to write off Additional Tier 1 (A T-1) bonds deserve to be set aside and is hereby quashed and set aside. Necessary consequences shall follow." 3. The Bank, RBI and the Union of India challenged the said judgment dated 20th January 2023 of the Hon'ble Bombay High Court before the Hon'ble Supreme Court of India in the above referenced appeals. By its judgment dated 15th October 2026 ("the said judgment"), the Hon'ble Supreme Court of India has dismissed all the appeals and upheld the judgment of the Hon'ble B " igh Court. Paragraph 80 and 81 of the said judgment reads thus: f....._ ~~ .- er, Registered Office: Axis House, P B Marg, Worii, Mumbai, Maharashtra, India, 400025 Corporate Office: Delhi Office, 2nd F [Showing first 8,000 characters — download PDF for full document]