CRISIL Ltd. — M&A Activity 2022

Oct 21, 2022

October 21, 2022

Listing Department National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5[th] floor P J Towers Plot No. C/1, G Block Dalal Street Bandra-Kurla Complex Mumbai 400 001 Bandra (East) Mumbai 400 051 Dear Sirs

Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

CRISIL Irevna US LLC (“Irevna LLC”) and Greenwich Associates LLC (‘”GA LLC”) are wholly owned subsidiaries of CRISIL Limited. Irevna LLC is engaged in the business of high-end risk, analytics and bespoke research services and GA LLC is engaged in the business of providing strategic benchmarking, analytics and insights to the global financial services industry. Both companies are US based. In order to generate operational & administrative efficiencies, the Board of Directors of these subsidiaries have approved a merger of GA LLC with Irevna LLC.

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/ CFD / CMD / 4/2015 dated 9th September, 2015 are given in Annexure A to this letter.

Kindly take this communication on record and inform your members accordingly.

Yours sincerely,

For CRISIL Limited

MINAL Digitally signed by AMIT MINAL AMIT BHOSALE Date: 2022.10.21 BHOSALE 19:11:35 +05'30'

Minal Bhosale Company Secretary ACS 12999

Encl.: a/a

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisil.com

Annexure A

Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

Merger of Greenwich Associates LLC (GA LLC) with CRISIL Irevna US LLC (Irevna LLC)

Sr. No.	Item for disclosure		Description	Description	Description	Description	Description	Description
1	Name of the entity(ies) forming part of the amalgamation/merger, details in brief such as, size, turnover etc		CRISIL Irevna US LLC and Greenwich Associates LLC, both wholly-owned subsidiaries of CRISIL Limited Particulars (FY 2021) CRISIL Irevna US LLC Greenwich Associates LLC Standalone Turnover 15.78 Mn USD 41.29 Mn USD Standalone Fixed Assets 1.78 Mn USD 2.27 Mn USD
				Particulars (FY 2021)		CRISIL Irevna US LLC		Greenwich Associates LLC
				Standalone Turnover		15.78 Mn USD		41.29 Mn USD
				Standalone Fixed Assets		1.78 Mn USD		2.27 Mn USD
2.	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length”		Since it is a merger between two wholly owned subsidiaries, it is an exempted transaction.
3	Area of business of the entity(ies)		Irevna LLC is primarily engaged in providing support on the business of high-end risk, analytics, benchmarking and bespoke research services and GA LLC is engaged in the business of providing strategic benchmarking, analytics and insights to the global financial services industry.
4	Rationale for amalgamation/ merger;		To rationalise CRISIL Limited’s subsidiary structure and to generate operational & administrative efficiencies
5	In case of cash consideration – amount or otherwise share exchange ratio		Not Applicable
6	Brief details of change in shareholding pattern (if any)of listed entity.		No change in shareholding of CRISIL Limited

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisil.com