ICRA Modifies Employee Welfare Trust Deed

ICRA Limited

Key Changes to Trust Composition

• Mr. PR Khanna has resigned as trustee of the ICRA Employees Welfare Trust
• Mr. Harinderjit Singh has been appointed as the new Trustee
• The Board of Directors of ICRA Limited approved both the resignation and appointment

Updated Trustee Composition

The new composition of the Trustees of the ICRA Employees Welfare Trust is as follows:

• Mr. M.S. Verma (Continuing Trustee)
• Mr. Subhash Chander Vasudeva (Continuing Trustee)
• Mr. Harinderjit Singh (New Trustee)

Effective Date and Legal Framework

The Deed of Modification becomes effective on the date of execution (July 2026). This represents the seventh modification to the original ICRA Employees Welfare Trust Deed dated July 11, 2006, following previous modifications in:

• October 3, 2006 (First Modification Deed)
• July 29, 2014 (Second Modification Deed)
• March 19, 2015 (Third Modification Deed)
• September 25, 2015 (Fourth Modification Deed)
• June 4, 2018 (Fifth Modification Deed)
• March 18, 2019 (Sixth Modification Deed)

The modification was executed under Clauses 8.15, 11 and 12 A of the Trust Deed. All other provisions of the Trust Deed remain in full force and effect.

Financial Impact

Financial impact not quantified in the disclosure.