CRISIL

Crisil acomp~nyof S&PGtobat July 21, 2026 Listing Department Listing Department National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5th 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.: Corporate Presentation Q2 2026 We are enclosing herewith our corporate presentation updated with Q2 FY2026 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 Company Secretary & Head - Legal ACS 12999 Cttsil Limited Corporate identity Number: l67120MH 1987PLC042363 Registered Office: Ughtbr'ldge IT Park, Saki Vlhar Road, Af'ldh8ri East, Mumbai-400 072, India. PhOM: +91 22 6137 3000 I Emall; lnfo@crisll.c.otn I www.cr-lsll.com 1 noitubirtsid rof toN .laitnedifnoc yltcirtS No content below the line No content below the line noitubirtsid rof toN .laitnedifnoc yltcirtS Analyst presentation July 21, 2026 2 .devreser sthgir llA .dtL lisirC 6202 © Disclaimer / Safe harbour This presentation has been prepared solely as a concise update of Crisil Limited’s (“Crisil” or “Company”) quarterly and/or annual results. By reading the presentation slides, you agree to be bound by the following limitations: (a) Crisil 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. No content below the line No content below the line Crisil a company of S&P Global 3 .devreser sthgir llA .dtL lisirC 6202 © Agenda 1. 2. 3. 4. 5. Crisil Overview Business Performance Financials Segment environment Update Performance 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global 4 .devreser sthgir llA .dtL lisirC 6202 © Crisil overview We are a global, insights-driven analytics organisation whose extraordinary rigour and domain expertise give clients the confidence to make mission-critical decisions Crisil Crisil Crisil Crisil Coalition Ratings Intelligence Integral IQ Greenwich Offers independent Offers insights, consulting, Offers strategic Offers solutions and credit ratings in India technology-driven risk benchmarking, analytics and actionable intelligence that empower solutions and advanced insights to the financial to financial institutions informed decisions data analytics, serving services industry and around the globe to and objective clients across government, specialises in providing deliver strategic benchmarking by private and public unique, high-value and transformation, lenders, investors and enterprises, empowering actionable information to help optimise risk and drive issuers them to make informed clients measure and drive operational excellence decisions their business performance No content below the line No content below the line Crisil a company of S&P Global 5 .devreser sthgir llA .dtL lisirC 6202 © Agenda 1. 2. 3. 4. 5. Crisil Overview Business Performance Financials Segment environment Update Performance 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global No content below the line No content below the line 6 .devreser sthgir llA .dtL lisirC 6202 © Key trends in macro and business environment India India’s GDP is expected to grow at 6.6% in the current fiscal, Growth in the current fiscal will be supported by robust compared with 7.6% last fiscal, amid multiple headwinds, including government capex, resilient services exports, and private higher prices of crude oil and other commodities, softer global consumption, though input cost pressures will impact growth, and a below-normal monsoon forecast manufacturing and construction Inflation is projected to rise to 5.1% in fiscal 2027 (from 2.0% last The rupee continues to remain under pressure driven by a fiscal), driven by higher global energy/input costs, food price widening current account deficit and volatile capital flows amid pressures, and a low-base effect the West Asia conflict Global Global gross domestic product (GDP) growth is forecast at 3.1% The energy supply shock is driving up global inflation, leading in 2026 (a 10 bps markdown from previous forecasts), as the to a renewed bias toward raising policy rates across several negative impact of the Middle East energy supply shock is partially central banks, including a recent 25 bps hike by the ECB offset by the AI investment boom In Q2 2026, Investment Banking and Markets revenues are The U.S. economy is expected to grow at 2.1% in 2026, supported projected to grow by 45% and 28% respectively, driven by by resilient consumption from higher-income households and strong upticks in ECM and DCM strong AI-driven private investment Crisil ECM – Equity Capital Markets; DCM – Debt Capital Markets a company of S&P Global No content below the line No content below the line 7 .devreser sthgir llA .dtL lisirC 6202 © Agenda 1. 2. 3. 4. 5. Crisil Overview Business Performance Financials Segment environment Update Performance 6. 7. Thought Corporate Social Leadership Responsibility Crisil a company of S&P Global 8 .devreser sthgir llA .dtL lisirC 6202 © Resilient performance amidst macro-economic uncertainty • Crisil Ratings continued to grow revenues and maintain its leadership position backed by investor preference for best-in- class assessments, despite a steep decline in bond issuances 28.8% • Crisil Global Analytics Center (GAC) saw growth in delegation of surveillance support to S&P Global Ratings and expanded analytical and operational support to S&P in new areas H1 2026 • Crisil Coalition Greenwich saw momentum in Corporate and Investment Banking and continued traction in Commercial 27.6% Banking. The accelerated pipeline conversion in Q1’26 and the PriceMetrix acquisition are reflected in the Q2 2026 and H1 2026 results Q2 2026 • Crisil Integral IQ saw demand for Credit Lending Solutions and Fundamental Research Income from operations • Crisil Intelligence saw continued demand for data analytics, consulting, and credit and risk solutions • Continued strengthening competitiveness by building domain-led products and implementing AI upgrades. These initiatives enhance client experience, sharpen insights, and improve efficiency • Interim dividend of Rs 10 per share declared in Q2 2026 30.1% • Key franchise activities during the quarter: H1 2026 – Crisil Ratings hosted the 4th edition of the Annual Infrastructure Summit 2026, themed 'Anchoring India's growth ambition' and Ratings Round-up H2FY26 media webinar 24.4% – Crisil Integral IQ hosted the Private Markets Forum 2026 in New York, and participated in TSAM London, CFO/COO North America, 14th Private Equity New York Forum and the S&P Community Bankers Conference 2026 Q2 2026 – Crisil Coalition Greenwich participated in the LinkedIn Industry Summit in New York, the Bond Dealers of America Profit before tax (PBT) event, the 18th Annual Japan ETF Conference in Tokyo, and the Fixed Income Leaders Summit 2026 in Boston • Crisil Foundation expanded community impact through Mein Pragati and Crisil RE, reaching an additional 2.65 lakh people through the Sakhi cadre, while 1.4 lakh linkages were facilitated No content below the line No content below the line Crisil a company of s&P G\.;t;i 9 .devreser sthgir llA .dtL lisirC 6202 © Agenda 1. 2. 3. 4. 5. Crisil Overview Business Performance Financials Segment environment Update Performance 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global 10 .devreser sthgir llA .dtL lisirC 6202 © Financial performance for H1 and Q2 2026 Income from operations Profit before tax (PBT) Profit after tax (PAT) ₹ crore ₹ crore ₹ crore +28.8% +30.1% +35.7% 450 2,133 588 1,656 452 331 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 +27.6% +24.4% +26.2% 1,075 280 216 843 225 172 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Numbers rounded off • Interim dividend of Rs 10 per share declared in Q2 FY26 vs. Rs 9 per share in the same quarter last year • The net impact of foreign exchange movement was a loss of ₹8.2 crore in Q2 2026 as against a gain of ₹14.4 crore in Q1 2026; Q2 2025 was a loss No content below the line of ₹6.6 crore No content below the line Crisil a company of S&P Global 11 .devreser sthgir llA .dtL lisirC 6202 © Agenda 5. 1. 2. 3. 4. Segment Crisil Overview Business Performance Financials Performance - environment Update Ratings Services 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global 12 .devreser sthgir llA .dtL lisirC 6202 © Bond issuance quantum (Rs. billion) Bank Credit growth (%) 6,672 -18% 20.0% 19.2% 5,456 17.7% 15.4% 15.0% 3,622 -26% 10.0% 2,693 5.0% H1 2025 H1 2026 Q2 2025 Q2 2026 No of ~800 ~840 ~510 ~430 issuers Source: Prime Database, RBI Data from December 2025 onwards is not comparable on a like-for-like basis with prior periods due to change in Data may be revised by Prime Database reporting end date/period by RBI No content below the line No content below the line 42-naJ 42-beF 42-raM 42-rpA 42-yaM 42-nuJ 42-luJ 42-guA 42-peS 42-tcO 42-voN 42-ceD 52-naJ 52-beF 52-raM 52-rpA 52-yaM 52-nuJ 52-luJ 52-guA 52-peS 52-tcO 52-voN 52-ceD 62-naJ 62-beF 62-raM 62-rpA 62-yaM Corporate bond issuances continued to decline in Q2, while bank credit growth remained robust - ....... ....... Credit Growth Wholesale Credit Growth Retail Credit Growth Crisil a company of S&P Global 13 .devreser sthgir llA .dtL lisirC 6202 © Ratings Services performance highlights Financials I_ - - - Particulars Particulars H1 2025 H1 2026 Growth Q2 2025 Q2 2026 Growth (Rs crore) (Rs crore) _ _ _ _ _I Income from Income from 519.7 627.8 20.8% 251.3 305.1 21.4% operations operations Segment profit 236.5 298.1 26.0% Segment profit 103.1 135.2 31.1% Margin 45.5% 47.5% Margin 41.0% 44.3% Note: Numbers rounded off to the first decimal Business update • Crisil Ratings continued to grow revenues and maintain its leadership position backed by investor preference for best-in-class assessments, despite a steep decline in bond issuances • Crisil Global Analytics Center (GAC) saw growth in delegation of surveillance support to S&P Global Ratings and expanded analytical and operational support to S&P in new areas No content below the line No content below the line Crisil a company of S&P Global 14 .devreser sthgir llA .dtL lisirC 6202 © Agenda 5. 1. 2. 3. 4. Segment Crisil Overview Business Performance Financials Performance - environment Update Research, Analytics and Solutions 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global 15 .devreser sthgir llA .dtL lisirC 6202 © Domestic asset flows, low NPAs augur well for Indian financials Indian banking sector gross NPAs (%) India mutual funds AUM* 7.50% 8,527 8,267 8,252 Rs ‘000 crore 7,827 7,315 5.90% 6,869 6,831 6,644 5,975 3.90% 2.80% 2.30% 1.80% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY21 FY22 FY23 FY24 FY25 FY26 2024 2025 2026 Source: Crisil Intelligence *Average AUM for the quarter; Source: AMFI No content below the line No content below the line Crisil a company of S&P Global 16 .devreser sthgir llA .dtL lisirC 6202 © Revenue growth, cost optimisation, and diligent use of capital have led to improving Return on Equity in recent years CIB Revenue Pools(1) ($ Billion) CIB Return on Equity(2) (%) 750 20% 600 15% 450 10% 300 5% 150 0 0% FY20 FY21 FY22 FY23 FY24 FY25 FY26F FY20 FY21 FY22 FY23 FY24 FY25 FY26F No content below the line • (1) Revenue pools analysis includes revenues from all Institutional Clients and Corporates with annual sales turnover > $1.5bn No content below the line • (2) RoE calculated as operating profit post-tax (tax rate = 30%) divided by capital (Capital is calculated asaverage of RWA*CET1 and LE*SLR) and based on Coalition Index Crisil Universe; RoE Index numbers include Credit Suisse until 2020 and have been replaced with Wells Fargo from 2021 onwards • Source: Coalition Greenwich Competitor Analytics and Cost & Capital Analytics a company of S&P Global 17 .devreser sthgir llA .dtL lisirC 6202 © Research, Analytics & Solutions performance highlights Financials Particulars Particulars H1 2025 H1 2026 Growth Q2 2025 Q2 2026 Growth (Rs crore) (Rs crore) _ _ _ _ _I I_ _ _ _ _ Income from Income from 1,137.6 1,506.5 32.4% 592.3 770.9 30.1% operations operations Segment profit 218.3 324.1 48.5% Segment profit 118.3 157.1 32.9% Margin 19.2% 21.5% Margin 20.0% 20.4% Note: Numbers rounded off to the first decimal Business update • Crisil Coalition Greenwich saw momentum in Corporate and Investment Banking and continued traction in Commercial Banking. The accelerated pipeline conversion in Q1’26 and the PriceMetrix acquisition are reflected in the Q2 2026 and H1 2026 results • Crisil Integral IQ saw demand for Credit Lending Solutions and Fundamental Research • Crisil Intelligence saw continued demand for data analytics, consulting, and credit and risk solutions No content below the line No content below the line Crisil a company of S&P Global 18 .devreser sthgir llA .dtL lisirC 6202 © Agenda 5. 1. 2. 3. 4. Segment Crisil Overview Business Performance Financials Performance - environment Update Research, Analytics and Solutions 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global 19 .devreser sthgir llA .dtL lisirC 6202 © Thought leadership Flagship Events Selected external speakership In the press Select blogs/reports published In a byline for Moneycontrol, ET Edge Insights _ Re _ v i, . s . i_tin_g le .. v _er_ag_ed_-l, e_nd ing risk F..,r _om_ gr_ow_th _ca_pita. .l _to. l_iQ . u .. 1d ,ty engine Subodh Rai, Crisil Ratings MD, highlights that insurers and Tmsl l~v Design: 'l'lw H\'IJ/i·in.CJ retirement funds have been overly \rchiteclun•< !/'lh!_i_iC( • fmnwny Understanding the ETF• In Institutional portfolios: cautious, missing Rs. 1.64 lakh healthcare sector Th• new normal crore in returns (2018–2024). He Our quote in the above article: V11uwooorlltl1t11crtcoolJIM'lW',~• ,{~ i,. funct1011ofi.ubs«101·complnmcs..100 adds that limited exposure to high- India’s GCC ecosystem is now ..~ ij yield corporate bonds persists further accelerated by the rapid rise 0 ~ } despite large assets. Further, the of artificial intelligence. We will now ~~- Crisil Panelist at CNBC-TV18 India Fixed article mentions that a potential have to see how effectively global Income Summit by IndiaBonds, Rs. 1 lakh crore investment companies change how decisions are Mumbai. opportunity exists between fiscals made to entrust India-based teams 4th edition of Crisil Ratings Infrastructure Summit 2026 2026 and 2030. with greater ownership. Select case studies published Getting retail investors to 'samba' with bonds Crisil lnt-.,alto India can emulate Brazil in offering tax sops to bond investors to boost investments into infrastru,.ct,u,"'''°------ Case study d m c\ a < r e k \ c o t p a m n c d n . l t . l wffby.fudlnfruuucturc Subodh Rai, Crisil Implementing I :::.~=~.i1=~= l K l k n A zi 7 l . l h l. u '8 f 8 tK 0 C C I C L F 'N .8 l'u 8 l 8 ly 'T dv O n k ne V L lcd m.il Ratings MD, shares his r s i t s a k n a d s a s r e d s iz s e m d e c n re t dit tuni. " n 1 , d q o u f l t m .l' • u l n 'C dl 'h "' a ( l lt a h n a d lb ng .li o ld l out.ln . t . u - c . , l , n :r p m ln p t O o o tl . w .. b o o n o ' d ln .. , . ; . r ,. n k t o h , u tb , y id o l'r,rrl"ft views in The Hindu for bank exposures tn-mi:ntflowato....ttin'r• drt,omt1,UN'tha1fundlnfnfou<;wrr under Basel Ill • - s 1 y 1 m -r b o k u , n tk d n e :. d . l l ' o iM nr. n hi d p a be l~ tw c e m ffl , 1 w h i e t h ~J,R,-illn1rod..ced1 Business Line on the M @ o 2 d 0 e 4 r 7 a t S or u m at m C it o , n M s u tr m uc b ti a o i n Times MMR n ::;!: ~ :1t \ : t r ' ' : ~ = • J ~ : ~ .° a ' l : o .! n ; g 1 w 1n h d h ia . 1 ~ f a n h n m l ~ t = p c l r w o < o n W l r fi k l o d ~ t e r o d l r t - in N li tn ! l t l c t w t l & r a f n l t~ l N l l n ! v o ■=n N ld d t r c o ~ b s n n p w , n t i w l1 l w h critical need for roq,omcanployttl,1n1ignificamly infrastructure mon,iff\uwd inequifymwlocu a;pcnditun. = C'<> : mf ~ "'rcd = '";1h ! bon ~ dma : r11 i 1, ; u. ' 'J1 w ,e N 0. l U d -l o n o n 1 p i a l2 l m \ 1 k 0 f l l f ) 6 l w . t . , 1 l e l l l w n ln v 8 k o , , . M z 8 i N I l I i D . I o C l' n 5 f U (1 o 1 anm investments in India Live prime time debates ~~kalllAdlntWrdaN p ~ r r i n rn k a o r , y :, - S rw o o c f l M &l l ) d , i u n t , c g . f ' o d r io br~ and the pivotal role that Tbmrtipl:cO.i1rbk,mwlln-on inl'n.tnottun,~ ~ohoT,,ldibelm=rou.t :.:t: o~d~fy~lnto ,.!;~~~~~~~.::•. . bond markets can play hlvegllned 1..aruon with retail ~andotft-rbmcl'uofflxcd lll'lfflon,mdmorcproi«urull'IN through increased retail IOWll'lbthcm 1onlwfuftdt.O\'ft'IM inf ' t T w b l ~ n a K u W R n ', : r M cl \ W iO T b l c l' e .O nf O 'C in li v lM au '.' n ll1 c t n o1 u in Sp;i11~7,8y=nn.1"hf/l'ME'dcb~cn1I~.IR'1~""""-" participation, which will 1a..,c:uen1d..-it,gpmod1o( 1 ln 1 v - n .u un in m l' u f 1 In 1 1 c i . s g .. , .u e . u e d ll t b K on t d o m nm ark c f h t u dl5burwmmuby15NDl!S. ultimately support the lnfnilttvnun,apromblnftlVCTIIX'for ~llrr.~Thcapt'ricnce~Brail - KD ' 'Kl'ITS t • "O M: I 1 N l l) '« IA t ubcndiuan Viksit Bharat goals. CCG receives ‘Market Structure Advisory of the The Hindu Business Line 1 w nd ic ia h nl o ll l > d n - lo in t. p . l l l h Year’ at The DESK's Bond Market Awards ET Now Select webinars hosted Cr1s1l Navigating the Al - ~· ~?~"0~ M ro i u lk g y h w p a a y s t t u h r r e o s u gh ;\ ,_ Private Markets Forum 2026 hosted by Crisil Integral IQ in New York CNBC Awaaz No content below the line No content below the line Crisil a company of S&P Global 20 .devreser sthgir llA .dtL lisirC 6202 © Agenda 5. 1. 2. 3. 4. Segment Crisil Overview Business Performance Financials Performance - environment Update Research, Analytics and Solutions 6. 7. Thought Corporate Social Leadership Responsibility No content below the line No content below the line Crisil a company of S&P Global 21 .devreser sthgir llA .dtL lisirC 6202 © Creating sustainable impact across communities and the environment Financial awareness and inclusion to the ‘last-mile’ communities Enhancing the collective social consciousness through volunteering campaigns Through Mein Pragati, approx. 2.65 lakh rural community Various volunteering drives organised across India individuals supported through trained Sakhi cadre in locations – to build a collective social, environmental and Assam and Rajasthan for building financial resilience. sustainability consciousness among Crisilites. As part of RBI’s scale-up of the CFL project, 707 centres are operational, reaching out to over 22 lakh community individuals across 13 states and 4 UTs for building financial awareness Expanding the green footprint and enabling water conservation in drought-prone Maharashtra and Rajasthan As part of Crisil RE – four water conservation structures completed in Udaipur and Raigad – both drought prone locations in Loose boulder dam construction through Crisil Rajasthan and Maharashtra. volunteers at Karjat, Maharashtra – volunteers and the completed dam No content below the line No content below the line Crisil a company of S&P Global About Crisil Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence. Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success. Headquartered in India, Crisil is majority owned by S&P Global. Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ. Crisil’s global workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured. .d e Crisil.com v For more information, visit Crisil.com re s e LinkedIn Twitter r s Connect with us: LinkedIn | Twitter th g ir llA .d tL Crisil Privacy lis irC 6 2 Crisil respects your privacy. We may use your personal information, such as your name, location, contact number and email id to fulfil your request, service your account and to provide you with additional information from Crisil. 0 2 For further information on Crisil’s privacy policy please visit hhttps://wwtw.critsil.comp/content/scrisilcom/:en/h/ome//crisil-wprivacy-noticew.html w.crisil.com/content/crisilcom/en/home/crisil-privacy-notice.html. © No content below the line No content below the line 22