ICRA LTD. - Disclosure Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015

Please refer to our disclosure dated September 2, 2022, informing that ICRA Limited's (the 'Company') wholly owned subsidiary, ICRA Lanka Limited ('ICRA Lanka') has submitted a request to surrender its credit rating agency license to the Securities and Exchange Commission of Sri Lanka. In this regard we wish to update that the Securities and Exchange Commission of Sri Lanka has accepted ICRA Lanka's application for surrendering of licence, in terms of applicable rules to credit rating agencies in Sri Lanka. It may be noted that ICRA Lanka is not a material subsidiary of the Company. In FY2022, ICRA Lanka's contribution to Group ICRA's revenue and profit after tax was less than 0.5%.