FSN E-Commerce Ventures Limited — Capital/Financing Update 2025

Apr 5, 2025

FSN E - Commerce Ventures Limited

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April 5, 2025

National Stock Exchange of India Limited

Symbol: NYKAA

BSE Limited Scrip Code: 543384

Dear Sir/ Madam,

Subject: Upgrade of the Credit Rating by CRISIL to “Crisil A/Stable” from “Crisil A- /Positive” for the Bank Loan Facilities of the Company

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), please note that CRISIL Ratings (“CRISIL”) has upgraded the credit rating for Bank Loan Facilities of the Company.

In this regard, please find below the ratings for the Bank Loan facilities of the Company:

Total Bank Loan Facilities Rated	Rs 135 crore
Long-Term Rating	Crisil A/Stable	Upgraded from “Crisil A-/Positive”

The email received from CRISIL informing the Credit Rating is enclosed. The detailed rating rational can be accessed from the website of CRISIL at the link: https://www.crisilratings.com/mnt/winshare/Ratings/RatingList/RatingDocs/FSNE_CommerceVentur esLimited_February%2006_%202025_RR_359449.html

The upgrade reflects improvement in Company’s business risk profile with sustained increase in revenues and steadily improving operating profitability.

The above information will also be available on the website of the Company at www.nykaa.com.

We request you to take the same on records.

Thanking You,

Yours faithfully,

For FSN E-Commerce Ventures Limited

NEELABJA Digitally signed by NEELABJA CHAKRABARTY CHAKRABARTY Date: 2025.04.05 18:35:17 +05'30'

Neelabja Chakrabarty

Company Secretary & Compliance Officer

Encl: a/a

Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6638 9616 | Email – companysecretary@nykaa.com CIN: L52600MH2012PLC230136

From: Akhilesh Rathi To: FSN Neelabja Chakrabarty; Arun Sharma Cc: P Ganesh Subject: Fwd: Crisil Ratings-FSN E-Commerce Ventures Limited- Rating letter Date: 04 April 2025 19:57:40 Attachments: image001.png image002.png Rating Rationale Nykaa.pdf

Hi,

As discussed, please find enclosed rating letter for FSN E-Commerce

---------- Forwarded message --------From: BOTLA LAKSHMAN KUMAR BOTLA.KUMAR@crisil.com Date: Fri, 4 Apr, 2025, 7:25 pm Subject: Crisil Ratings-FSN E-Commerce Ventures Limited- Rating letter To: Akhilesh Rathi akhilesh.rathi@nykaa.com, p.ganesh@nykaa.com p.ganesh@nykaa.com, Archana Mhapankar archana.mhapankar@nykaa.com Cc: Ankita Gupta ankita.gupta@crisil.com

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Dear Sir,

Kindly find the final rating rationale of FSN E-Commerce Ventures Limited (Upgradation of ratings)

Thank you for your continued support.

Kindly note that the rating assigned and being communicated herewith constitutes Unpublished Price Sensitive Information (UPSI) as per SEBI (Prohibition of Insider Trading) Regulations, 2015 till the time ratings are disclosed / published on our website. CRISIL Ratings shall record the same in its Structured Digital Database (SDD) in line with regulatory requirements. You are requested to update the same in your records accordingly.

Thanks & Regards:

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Botla Lakshman Kumar Manager M +91 8500308307 CrisilRatings.com | LinkedIn

Crisil LTD Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai 400 072

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