Subex Ltd — Capital/Financing Update 2021

Oct 19, 2021

==> picture [536 x 110] intentionally omitted <==

October 19, 2021

The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai- 400 001 Fax: 022-2272 2037/2039/2041/3121 BSE Scrip Code: 532348

The Secretary National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot no. C/l G Block, Bandra-Kurla Complex Bandra (E), Mumbai - 400 051 Fax: 022-2659 8237/38; 2659 8347/48 NSE Symbol: SUBEXLTD

Dear Sir/Madam,

Sub: Credit Rating

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, India Ratings and Research (Ind-Ra) has affirmed the Long-Term Issuer Rating of Subex Limited (the ‘Company’) and Subex Assurance LLP, material wholly owned subsidiary of the Company at ‘IND A-’ with a Positive Outlook and simultaneously withdrawn it.

Further, CRISIL has assigned CCR A-/Stable Corporate Credit Rating to the Company as well as to its material wholly owned subsidiary, Subex Assurance LLP.

This is for your information and record.

Thanking you.

==> picture [240 x 123] intentionally omitted <==

==> picture [595 x 69] intentionally omitted <==