CRISIL Ltd. — Investor Presentation 2021

Jul 23, 2021

July 23, 2021

Listing Department National Stock Exchange of India Ltd. Exchange Plaza, 5th floor Plot No. C/1, G Block Bandra-Kurla Complex Bandra (East) Mumbai 400 051

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

Dear Sirs,

Sub.: Corporate Presentation Q2 2021

We are enclosing herewith our corporate presentation updated with the Q2 FY 2021 Financial Results. This presentation will be published on the Company's website - www.crisil.com shortly.

Kindly take this communication on record.

Yours faithfully, For CRISIL Limited Minal Bhosale MINAL AMIT BHOSALE Digitally signed by MINAL AMIT BHOSALE Date: 2021.07.23 14:47:30 +05'30'

Company Secretary ACS 12999

Encl.: a/a

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

Q2 2021 Analyst Presentation

© 2021 CRISIL Ltd. All rights reserved.

July 2021

Disclaimer / Safe Harbor

This presentation has been prepared solely as a concise update of Company's quarterly and/or annual results. By reading the presentation slides, you agree to be bound by the following limitations: (a) CRISIL Ltd. ("CRISIL" or "Company") cannot give assurance to the correctness of forward looking statements. These forward-looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as "targets", "believes", "expects", "aims", "assumes", "intends", "plans", "seeks", "will", "may", "anticipates", "would", "could", "continues", "estimate", "milestone" or other words of similar meaning and similar expressions or the negatives thereof; (b) By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected; c) Given the aforementioned uncertainties, prospective or present investors are cautioned not to place undue reliance on any of these forward-looking statements; d) No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investments decision whatsoever. Investor/prospective advisors must be sought on specific situation from well-informed legal, investment, tax, financial, and management professionals; e) This presentation and its contents are confidential and must not be distributed, published or reproduced. This presentation does not constitute a recommendation regarding the securities of the Company.`

Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of information on which this Presentation is based and is not responsible for any errors or omissions or for the results obtained from the use of this Presentation. CRISIL, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this Presentation.

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CRISIL is a leading global analytics company driven by its mission of making markets function better

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Ratings Benchmarking Insights

Research Services

Risk Solutions

Market Insights & Analytics

Empowering decisionmaking with cutting-edge #Analytics

#Global footprint

#Innovation to drive growth

#Agile to market needs

• Segment Performance
• Thought Leadership
• Corporate Social Responsibility

Domestic macros impacted by second wave; Developed economies drive global growth

Iditncaor	2019FY	2020FY	2021FY	2022FYF
GDP(%)y-o-y	6.5	4.2	37.-	9.5
10Gield(%Mh)year-secyarc,	7.5	6.2	6.2	6.5
f(%fG)FiscldeicitDPao	3.4	4.6	@9.5	#6.8
$,(/)ExhateReMhcngeraarcavg.	69.5	74.4	72.8	75.0
CPIInflatio(%)n	3.4	4.8	6.2	5.3
GNPA(%)ross	9.1	8.2	*7.5~	~80-9.0*
ReRate(%Mh-d)poarcen,	6.25	4.40	4.00	4.25
GBakCditGth(%)rossnrerow	11.0	6.0	5.0~	9.0-10.0~

Iditncaor	CY2018	CY2019	CY2020	CY2021F
G(%)WldDPory-o-y	3.6	2.9	3.4-	5.9
UnidSfAica(%)tetatesomery-o-y	2.9	2.3	3.5-	6.7
Eu(EuA19)(%)rozonerorea-y-o-y	1.9	1.2	6.7-	4.4
ChinGDP(%)ao-y-y	6.6	6.1	2.3	8.3

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Note: F=forecast; # Budget estimate; @ Revised Estimate

Source: NSO, RBI, CRISIL, S&P Global Economics and Oxford Economics * Excluding restructured accounts

FY represents the financial year (Apr-Mar period) CY represents the calendar year (Jan-Dec period)

Key business trends

Q2 2021 income from operations at ₹528.5 cr.; PAT at ₹100.8 cr.

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Note:

1. Numbers rounded off

CRISIL's commitment to ESG

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Significant dip in bond market activity and bank credit growth remains muted impacted by the pandemic

Source: RBI, SEBI, Ministry of Finance, Prime Database, CRISIL CY represents the calendar year (Jan-Dec period);

Ratings: Q2 2021 highlights

Financials

Ptil(₹)arcuarscr	Q22020	Q22021
IfncomeromOtiperaons	144.1	136.6
SPfittegmenros	59.3	52.0
Miargn	41.2%	38.1%
Ptil(₹)arcuarscr	H12020	H12021
IfncomeromOtiperaons	277.3	285.5
SPfittegmenros	116.8	122.3

Note: Numbers rounded off

Business update

• Ratings business continued to hold its leading position in the corporate bond market and added new clients during the quarter despite the challenging credit landscape
• Further, on the new products front, the Ratings business saw traction across stressed assets and structured finance
• The Global Analytical Centre continued to scale up coverage in analytical and strategic support

Innovation and franchise

• Continued focus on franchise activities with over 30 press releases published and several webinars covering steel, power, stressed assets, dairy, sugar, real estate, renewable energy etc.
• • Continued publishing key opinion pieces. Some notable ones were 'Half of CRISIL-rated mid-sized cos eligible for restructuring 2.0', 'RBI liquidity window can augment healthcare infra,' 'Second wave and rural vulnerability high-base effect to slow domestic tractor volume growth to 3-5%'

Indian Capital market remains buoyant; Globally, performance of CIB industry is normalising

Evolving regulations present opportunities

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CCAR: Comprehensive Capital Analysis and Review DFAST: Dodd-Frank Act Stress TestsCECL: Current Expect Credit Loss EBA: European Banking Authority MiFID: Markets in Financial Instruments DirectiveUMR: Uncleared Margin Rules

PRA: Prudential Regulation Authority TRIM: Targeted Review of Internal Models IFRS: International Financial Reporting Standards IBOR: Interbank Lending Rate FRTB: Fundamental Review of Trade Book

Research: Q2 2021 highlights

Financials

Ptil(₹)arcuarscr	Q22020	Q22021
fIncomeromOitperaons	295.7	355.4
SPfittegmenros	46.7	79.9
Miargn	15.8%	22.5%

()Ptil₹arcuarscr	H12020	H12021
IfncomeromOtiperaons	560.1	667.7
StPfitegmenros	102.4	133.1
Miargn	18.3%	19.9%

Note:

1. Numbers roundedoff

Business update

• The Research segment had a strong quarter, growing its revenue by 20.2%, with all businesses in the segment delivering growth for the quarter. The segment during the quarter also witnessed margin expansion of over 670 bps
• Global Research & Risk Solutions (GR&RS) saw good growth across risk analytics and buy-side research
• • Growth in Coalition-Greenwich was aided by client adds in CIB space and increased traction for commercial banking analytics
• India Research grew on account of continued demand for data, capital marketrelated insights and new products launched in funds and fixed-income. The business also launched Environmental, Social, Governance (ESG) scores for 225 Indian corporates across 18 sectors, which was well received by the market.

Innovation and franchise

• • Hosted inaugural CRISIL India ESG Leadership Summit engaging with 900+ clients from 600+ organizations
• Launched joint wealth management programme in association with National Institute of Securities Markets (NISM), SEBI
• Released white papers on topical areas such as Sustainable Finance Disclosure Regulation (SFDR), ESG Reporting Standards, climate risk and stress testing
• Coalition Greenwich hosted multiple webinars on market structure trends, transaction banking and released several opinion pieces on VOC and market structures
  • VOC – Voice of Customer

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Advisory: Q2 2021 highlights

Financials

Pil(₹)tarcarscru	Q22020	Q22021
fIncomeromOitperaons	32.0	36.5
StPfitegmenros	0.3	4.4
Miargn	%0.9	%12.1
Pil(₹)tarcarscru	H12020	H12021
fIncomeromOitperaons	62.2	70.5
SftPitegmenros	1.0	07.

Business update

• The advisory segment witnessed robust revenue growth of 14.0% during the quarter from new wins and pipeline conversion
• • Our proprietary technology platforms in the Business Intelligence and Risk Solutions business continued to garner interest from clients

Innovation and franchise

• Participated in the S&P Global Ratings' panel discussion on the topic 'India and South East Asia: New Funding Structures and Credit Risks – The Growing Role of Project Finance and Project Bonds'
• Participated in a roundtable discussion on 'Accelerating a Sustainable and Inclusive COVID-19 recovery' covering trends in Infrastructure financing in emerging markets, success factors and role of Infra Funds, and PPP project bankability

Risks

Prolonged impact of Covid-19 pandemic and delay in economic revival

Evolving regulatory environment

Information security and cyber-related risks

Adverse currency movement

Intense competition

Reputation risk

• CRISIL Overview
• Business Environment
• Financial Performance
• Segment Performance
• Franchise and thought Leadership
  • Corporate Social Responsibility

A 'TRUSTED' voice in Media

Creating sustained social impact through CSR initiatives

Furthering CRISIL's ESG agenda by driving inclusive growth and conserving the environment

Financial capability building of rural women in Assam, Rajasthan, Haryana and Maharashtra

• • Mein Pragati expanded its outreach through 1,036 trained Sakhis in 1,789 villages of Assam and Rajasthan
  • •Over 56,000 linkages facilitated to formal banking & social welfare schemes
• • Through RBI-CFL pilot, over 15,000 beneficiaries provided handholding support through the GramSahay helpline
• • Under GramShakti Certification, 720+ new users on-boarded – taking cumulative user base to 2,700+

Promoting environment conservation, disaster relief and larger social consciousness among employees

• • Over 500 CRISILites engaged through virtual volunteering initiatives which covered mentoring the field teams and teaching children from rural communities
• • Undertook Project 'Oxygen For All' – to enable purchase and deployment of oxygen concentrators and cylinders

About CRISIL

CRISIL is a leading, agile and innovative global analytics company driven by its mission of making markets function better.

It is India's foremost provider of ratings, data, research, analytics and solutions with a strong track record of growth, culture of innovation, and global footprint.

It has delivered independent opinions, actionable insights, and efficient solutions to over 100,000 customers through businesses that operate from India, the US, the UK, Argentina, Poland, China, Hong Kong and Singapore.

It is majority owned by S&P Global Inc, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.

For more information, visit www.crisil.com

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Last updated: May 2018

For further information contact: investors@crisil.com