Credit Rating- Revision

Mirza International Limited Registered & Head Office: A-71, Sector-136, Noida Utt r Pradesh, lndia-·201301 Ph. +91 0120 71 58766 Cl : L 19129UP1979PLC00482 l Email : marketing@mirzaindia.com Website : www.mirza.co.in July 15, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towe rs, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Mumbai 400 001 Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Dear Sir, Sub.: Credit Rating Updates This is to inform you that ICRA Limited ('ICRA') has revised the Outlook for long term and Short-Term facilities as per the detail given below: ! Long Term Rating i ICRA BBB+(Stable) A copy of Credit Rating Letter issued by ICRA on July 15, 2026 is enclosed herewith. This is for your kind information and record please. For Mirza International Limited Harshita Nagar Company Secretary & Compliance Officer Encl.: As above. Thomas Crick Eat.1830 ICRA Limited ICRA/Mirza International Limited/15072026/1 Date: July 15,2026 Mr. Anil Mahipal Chief Financial Officer Mirza International Limited A-71,Sector-136,Noida Uttar Pradesh -201301 Dear Sir, Re: ICRA’s Credit Rating for below mentioned Instruments of Mirza International Limited As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the following rating actions for the mentioned instruments of your company. Rated Amount Instrument Rating Action1 (Rs. crore) Long Term-Fund Based 23.00 [ICRA]BBB+(Stable); downgraded Short Term-Fund Based-Others 160.00 [ICRA]A2; downgraded Short Term-Non Fund Based-Others 10.00 [ICRA]A2; downgraded [ICRA]BBB+(Stable)/[ICRA]A2; Long term/Short term Unallocated 12.00 downgraded Total 205.00 The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in for latest rating(s) of the company. The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would constitute an enhancement that would not be covered by or under the said Rating Agreement. 1 Complete definitions of the ratings assigned are available at www.icra.in. Building No. 8, 2nd Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN: L749999DL1991PLC042749 Email: info@icraindia.com Gurugram – 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.: +91.11.23357940-41 RATING ● RESEARCH ● INFORMATION The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated instrument availed/issued by your company. You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded. We look forward to your communication and assure you of our best services. With kind regards, Yours sincerely, For ICRA Limited Srikumar Krishnamurthy Senior Vice President and Co-Group Head ksrikumar@icraindia.com Annexure Details of Bank Limits Rated by Amount (Rs. crore) Rating Rating Assigned on ICRA (Rated on Long-Term Scale) Cash Credit Limits Punjab National Bank 2.00 [ICRA]BBB+ July 07,2026 (Stable) HDFC bank limited 21.00 [ICRA]BBB+ July 07,2026 (Stable) Total 23.00 Details of Bank Limits Rated by Amount (Rs. crore) Rating Rating Assigned on ICRA (Rated on Short-Term Scale) Letter of Credit Punjab National Bank 10.00 [ICRA]A2 July 07,2026 Packing Credit Punjab National Bank 30.00 [ICRA]A2 July 07,2026 State Bank of India 25.00 [ICRA]A2 July 07,2026 Bill Discounting Punjab National Bank 85.00 [ICRA]A2 July 07,2026 HDFC Bank Limited 20.00 [ICRA]A2 July 07,2026 Total 170.00 Details of Bank Limits Rated by Amount (Rs. crore) Rating Rating Assigned on ICRA (Rated on Long term/Short- Term Scale) Unallocated Not applicable 12.00 [ICRA]BBB+(Sta July 07,2026 ble)/[ICRA]A2 Total 12.00