IRB Infrastructure Fitch BB+ Rating Affirmed Stable

Date: October 5, 2026

Credit Rating Update

Fitch Ratings has affirmed IRB Infrastructure Developers Limited's Long-Term Issuer Default Rating at 'BB+' with a Stable Outlook.

The rating on the company's US-dollar senior secured notes has also been affirmed at 'BB+'.

Both ratings maintain their previous levels with no change from earlier ratings.

Rating Details

| Type of Rating | Earlier Rating | Revised Rating | Status |

| Long-Term Issuer Default Rating | BB+ | BB+ | Affirmed |

| US-Dollar Senior Secured Notes | BB+ | BB+ | Affirmed |

Not Specified Sections

No material disclosures under the following sections: Financial Results, Dividend Declaration, KMP/Board Changes, Board Meeting Outcomes, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication, Other Operational/Legal/Strategic Disclosures.