Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (''SEBI Listing Regulations'') - Revision in Credit Rating/ Outlook.

Credit rating upgraded to BBB+ with stable outlook by S&P Global Ratings. - Upgrade driven by high growth in India and Africa, and disciplined balance sheet. - India subscriber base expected to grow 3%-4%, ARPU by 5%-7% over next year. - Africa customer base projected to grow 9%-11% annually, ARPU 5%-7% through FY28. - Consolidated EBITDA forecast to grow 8%-10% annually over next two years. - Capex to rise to about INR565 billion by FY28, supporting data centers and cloud. - Dividends expected to increase to INR230 billion in FY27 and INR350 billion in FY28. - FFO-to-debt ratio forecast to improve to 50%-52% in FY27 and about 60% in FY28. - Liquidity assessed as adequate with strong cash flow and access to capital markets.