Ref: Sec/SE/272/2021-22 26.10.2021

Singapore Exchange

Securities Market Control

Securities & Market Data, Operations

11 North Buona Vista Drive,

#06-07 The Metropolis Tower 2,

Singapore 138589

Dear Madam/Sir

Sub: Change in Credit Rating

We wish to inform you that International Credit Rating Agency S&P Global Ratings has upgraded the outlook of Manappuram Finance Ltd to Stable and affirmed the 'BB-/B' ratings.

Ratings Affirmed; Outlook Action

To

FROM

Issuer Credit Rating

BB-/Stable/B

B+/Stable/B

Senior Secured

BB-

B+

Request you to kindly take the same on your record.

For Manappuram Finance Limited

MANOJKU MAR V R

Digitally signed by MANOJKUMAR V R DN: c=IN, o=Personal, title=3934, pseudonym=3f7d8785d77fb57dd41384a01ace59 99cb26a0cd22b7f334f205d40dbfb622b7, postalCode=680581, st=Kerala, serialNumber=ec0b07b2d06a85987aa84d48d237 61b1c13f03d66989437cb6348bc1a592cc87, cn=MANOJKUMAR V R

Date: 2021.10.26 17:39:12 +05'30'

Manojkumar V.R Company Secretary

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Manappuram Finance Limited published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2021 21:17:08 UTC.