Axis Bank has announced an update to its Global Medium Term Notes Programme with the publication of a new Offering Circular dated December 26, 2025. The updated circular has been made available on three major exchanges: India International Exchange IFSC Limited, NSE IFSC Limited, and Singapore Exchange Limited.

Programme Background and Approvals

The Global Medium Term Notes Programme builds upon previous corporate approvals obtained by the bank during 2025. The Board of Directors had initially approved the fundraising initiative during their meeting held on April 24, 2025, authorizing the issuance of various debt instruments up to ₹35,000.00 crore.

The shareholders subsequently provided their approval for the fundraising plan during the Annual General Meeting held on July 25, 2025, where all related resolutions were passed with the required majority.

Debt Instrument Categories

The approved fundraising framework encompasses a comprehensive range of debt securities that the bank may issue in Indian or foreign currency. These instruments include:

• Long term bonds and masala bonds
• Sustainable and ESG bonds, including green bonds
• Optionally and compulsorily convertible debentures
• Non-convertible debentures
• Perpetual debt instruments
• Additional Tier 1 bonds and infrastructure bonds
• Tier II capital bonds

Exchange Listings and Documentation

The updated Offering Circular has been made available across three key exchanges, providing broad market access for potential issuances. The documentation is accessible through the official websites of each exchange platform.

Issuance Framework

Under the Global Medium Term Notes Programme, Axis Bank retains the flexibility to issue debt instruments from time to time, with particular emphasis on Additional Tier 1 Notes and other permissible securities. The bank may denominate these issuances in either foreign currency or Indian rupees, depending on market conditions and regulatory requirements.

The programme operates within the regulatory framework established by the Reserve Bank of India guidelines, the Companies Act 2013, and Securities and Exchange Board of India regulations covering non-convertible securities and listing obligations. All potential issuances will be subject to prevailing market conditions and applicable legal requirements at the time of issuance.

Axis Bank has completed the allotment of equity shares under its Employee Stock Option Plan (ESOP) and Restricted Stock Unit (RSU) scheme on December 23, 2025. The allotment represents the exercise of stock options by employees, resulting in an expansion of the bank's share capital base.

Share Allotment Details

The bank allotted 5,02,455 equity shares of ₹2.00 each following the exercise of stock options and units under its ESOP/RSU scheme. This allotment was completed on December 23, 2025, as part of the bank's ongoing employee stock compensation program.

Impact on Share Capital

The allotment has resulted in a corresponding increase in the bank's paid-up share capital structure. The share capital expansion reflects the conversion of employee stock options into actual equity holdings.

Regulatory Compliance

The bank has informed both the National Stock Exchange of India Limited (NSE) and BSE Limited about this share allotment in compliance with regulatory requirements under Regulation 30. The communication was sent to the respective listing compliance departments of both exchanges.

The allotment demonstrates the bank's continued implementation of its employee stock ownership programs, allowing eligible employees to convert their stock options and restricted stock units into equity shares. This corporate action maintains transparency with stakeholders while fulfilling the bank's obligations under its structured employee compensation schemes.