CRISIL Ltd. — M&A Activity 2022

Oct 21, 2022

October 21, 2022

Listing Department BSE Limited P J Towers Dalal Street Mumbai 400 001

National Stock Exchange of India Ltd. Exchange Plaza, 5th floor Plot No. C/1, G Block Bandra-Kurla Complex 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 AMIT BHOSALE Digitally signed by MINAL AMIT BHOSALE Date: 2022.10.21 19:11:35 +05'30'

Minal Bhosale Company Secretary

ACS 12999

Encl.: a/a

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

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
1	Nameoftheentity(ies)	CRISIL Irevna US LLC and Greenwich Associates LLC, both wholly-owned
	formingpartoftheamalgamation/merger,	subsidiaries of CRISIL Limited
	details in brief such as, size,	Particulars	CRISIL Irevna	Greenwich
	turnover etc	(FY 2021)	US LLC	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	Since it is a merger between two wholly owned subsidiaries, it is an exempted
	would fall within related	transaction.
	party transactions? If yes,whether the same is done at
	"arms length"
3	Area of business of the	Irevna LLC is primarily engaged in providing support on the business of
	entity(ies)	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	To rationalise CRISIL Limited's subsidiary structure and to generate operational
	& administrative efficienciesamalgamation/ merger;
5	In case of cash	Not Applicable
	consideration – amount or
	otherwise share exchangeratio
6	Brief details of change in	No change in shareholding of CRISIL Limited
	shareholding pattern (if
	any)of listed entity.

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363