General Updates

BCC:ISD:118:16:429 17.08.2026 The Vice-President, The Vice-President, B S E Ltd. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street Bandra Kurla Complex, Bandra (E) Mumbai – 400 001 Mumbai – 400 051 BSE CODE-532134 CODE-BANKBARODA Madam/Dear Sir, Re: Bank of Baroda – Rating We advise Ratings from various Rating Agency in connection with the issuances of US$ notes under MTN programme as under: SR No. ISIN No. Rating Agency Ratings 1 XS3424472010 Fitch Ratings BBB- 2 XS3424472101 Fitch Ratings BBB- 3 XS3424472010 S&P Global Rating BBB 4 XS3424472101 S&P Global Rating BBB 5 XS3424472010 CareEdge Global BBB+/Stable 6 XS3424472101 CareEdge Global BBB+/Stable The detailed report is enclosed. We request you to take note of the above pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 and disseminate the information on your website. Yours faithfully, S Balakumar Company Secretary बडौदा कॉप(cid:574)रेट स(cid:581)टर, सी-26, जी-(cid:222) लॉक, बा(cid:219)(cid:289)ा कुला(cid:91) कॉ(cid:224) (cid:220) ल(cid:200)े स, मुंबई 400 051, भारत. Baroda Corporate Centre, Bandra Kurla Complex, Mumbai 400 051, India फोन / Ph : 91 22 6698 5812 ई मेल / E Mail : companysecretary.bcc@bankofbaroda.bank.in वेब / Web : www.bankofbaroda.bank.in FitchRatin August 17, 2026 Mr. Nishant Ranjan Chief General Manager & Head, International Banking Division Bank of Baroda Baroda Corporate Center C 26 G Block Sandra Kurla Complex Mumbai, 400051 lndja Dear Mr. Ranjan: Re: Fitch rating assignment regarding Bank of Baroda Fitch (see definition below) assigns the following ratings. Bank of Baroda Debt Issue Rating Rating Previous Rating Action · Identifiers ~ Rating senior unsecured USD 300 min LT B~B- 5.318% bond/note New Rating XS3424472010 20-Aug-2031 I (ISIN) senior unsecured ,USD300 min LT (xgs) BB(xgs) 5.318% bond/note New Rating XS3424472010 20-Aug-2031 I (ISIN) senior unsecured 5U .S 1D 144 %0 0 b om ni dn / note LT BBB- BBB-(EXP) New Rating XS3424472101 20-Aug-2029 (ISIN) senior unsecured 5U .S 1O 14 4 %0 0 b om ni dn / note LT (xgs) BB(xgs) BB(xgs)(EXP) New Rating XS3424472101 20-Aug-2029 (ISIN) RATINGS KEY OUTLOOK WATCH Positive Negative Page 1 of 4 Fitch F'.s:inp Ltd, 3D North '+""''""""" CID1&1:y"\Vhar.i. Lor1<CLn1El-+ 5G:,J T +44 2-0 3:3-0 !vOD I?itchRatings Evolving Stable 0 The final rating will be published on Fitch's public website under https://www.fitchratings.com/entity/bank-of-baroda-80360486 Fitch Ratings has assigned Bank of Baroda's (BOB, BBB-/Stabie) USD400 million 5.114% senior unsecured notes due August 2029 and USD300 million 5.318% senior unsecured notes due August 2031 final ratings of 'BBB-'. This follows the completion of the securities issue and the receipt of final documents conforming to information previously received. The final ratings are the same as the expected rating assigned on 21 June 2026. The securities constitute BOB's direct, unconditional, unsubordinated and unsecured obligations and will at all times rank pari passu among themselves and with all of BOB's other unsubordinated and unsecured obligations. The notes were issued by BOB's Gujarat International Finance Tee-City Branch. Key Rating Drivers The senior unsecured instruments are rated at the same level as the bank's Long-Term Issuer Default Rating (IDR), in line with Fitch's criteria. BO B's IDR is driven by its Government Support Rating (GSR) of 'bbb-', which reflects our view of a high probability of extraordinary state support for the bank, if required. This takes into consideration the state's 64% ownership, BOB's position as India's second-largest state bank and our assessment that the state has a strong propensity to support the banking system in general. The Stable Outlook on the IDR mirrors that on the sovereign IDR (BBB-/Stable). For mere details on BOB's ratings and credit profile, see Fitch Affirms Bank of Baroda and Bank of Baroda New Zealand at 'BBB-; Upgrades VR to 'bb', published 25 February 2026. Rating Sensitivities Factors that could, individually or collectively, lead to positive rating action/upgrade The ratings of BOB's senior unsecured notes are broadly sensitive to the same considerations that affect its IDR and Long-Term IDR (xgs). A positive rating action on the IDR or Long-Term IDR (xgs) would result in a similar change in the ratings of the notes. Factors that could, individually or collectively, lead to negative rating action/downgradP. A negative change in the !DR or Long-Term !DR (xgs) would result in a similar change in the ratings of BOB's senior unsecured notes. Disclaimer and Limitations In issuing and maintaining its ratings, Fitch relies on factual information it receives from issuers and underwriters and from other sources Fitch believes to be credible. Fitch conducts a reasonable investigation of the factual information relied· upon by it in accordance with its ratings methodology·, and obtains reasonable verification of that information from independent sources, to the extent such sources are available for a given security or issuer or obligor in a given jurisdiction. Page 2 of 4 Fitch F~i;.tings Ltd, 3{i Nor'"J1Cr.."l.cinnaci~-: ·Ca..'"1.:1• • ryVVhar.( London El4 SGN 1...-44 2:(i J530 !-000 F_--4410 35l-{i 1000 -vr,,,-,;·.:fl.tcht"a.tin.E:LCO.n1 R2·gist;re6. !1".: EriiLmd ·s:r11.:. \Vai.zs No. 111623D FitchRatings The manner of Fitch's factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public information, access to the management of the issuer and its advisers, the availability of pre-existing third-party verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and other reports provided by third parties, the availability of independent and competent third-party verification sources with respect to the particular security or in the particular jurisdiction of the issuer, and a variety of other factors. Users of Fitch's ratings should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information Fitch relies on in connection with a rating will be accurate and complete. Ultimately, the issuer and its advisers are responsible for the accuracy of the information they providJ to Fitch and to the market in offering documents and other reports. In issuing its ratings Fitch must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ra~ings are inherently forward-looking and embody assumptions and predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings can be affected by future events or conditions that were not anticipated at the time a rating was issued or affirmed. Fitch seeks to continuously improve its ratings criteria and methodologies, and periodically updates the descriptions on its website of its criteria and methodologies for securities of a given type. The criteria and methodology used to determine a rating action are those in effect at the time the rating action is taken, which for publiq ratings is the date of the related rating action commentary. Each rating action commentary provides information about the criteria and methodology used to arrive at the stated rating, which may differ from the general criteria and methodology for the applicable security type posted on the website at a given time. For this reason, you should always consult the applicable rating action commentary for the most accurate information on the basis of any given public rating. Ratings are based on established criteria and m [Showing first 8,000 characters — download PDF for full document]