Credit Rating- New

SDHIL/SE/43/2026-27 22nd July, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, Fort, G Block, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 BSE Scrip Code : 533107 NSE Symbol : SWANDEF Dear Sir / Madam, Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”) - Intimation of Credit Rating Pursuant to Regulation 30(6), read with Part A of Schedule III of the SEBI LODR Regulations, we wish to inform you that ICRA Limited has assigned credit rating for the credit facilities of the Company. Details of the same are as under: Facilities/Instruments Amount Rating Rating (₹ Crore) Action Long term-Fund-based-Term loan 1,150.00 [ICRA]BBB (Stable) Assigned Long term/Short term-Unallocated 1,500.00 [ICRA]BBB (Stable) / Assigned Total 2,650.00 We are enclosing herewith a copy of the press release dated 22nd July, 2026, published by ICRA Limited for your reference. The said intimation shall also be available on website of the company at www.sdhi.co.in. You are requested to take the same on record. Yours faithfully, For Swan Defence and Heavy Industries Limited [formerly known as Reliance Naval and Engineering Limited] Priti P. Dave Company Secretary & Compliance Officer ACS:- 19469 Enclosed as above SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED (Formerly known as Reliance Naval and Engineering Limited) Registered Office: Pipavav Port, Post Ucchaiya, Via-Rajula, Dist. Amreli - 365 560, Gujarat Corporate Office: Uttam House, 3rd Floor, Plot No. 69, P D’Mello Road, Carnac Bunder, Mumbai – 400 009 +91 22 4058 7300 | info@swan.co.in | www.sdhi.co.in | CIN - L35110GJ1997PLC033193 ICRA ICRA Limited ICRA/Swan Defence and Heavy IndustriesLimited/22072026/1 Date: July 22,2026 Mr. Jignesh Shah Swan Defence and Heavy Industries Limited UttamHouse, 3rd Floor, Plot No. 69, P D' MelloRoad Carnac Bunder, Mumbai-400009 Dear Sir, Re: ICRA's Credit Rating for below mentioned Instruments of Swan Defence and Heavy IndustriesLimited As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA's Rating Committee has taken the following rat ing actions for the mentioned instruments of your company. Financial sector Instrument Rated Amount Rating Action regulator# (in Rs. Crore) Long term-Fund-based-Term loan 1,150.00 [ICRA]BBB (Stable); assigned RBI Long term/Short term-Unallocated 1,500.00 [ICRA]BBB (Stable)/[ICRA]A3+; RBI assigned Total 2,650.00 #SEBI's grievance redressal/dispute resolution and SEBI investor protection mechanisms such as SCORES and ODR sha/1 not be ava ilable for activities and instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI. 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, orthe 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 ICRAwebsiteatwww.icra.infor latest rating(s) of the company. The rating(s) arespecific 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. 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-schedulementor 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. BBuuiillSddeiinnnggs NNitooiv.. i88t,,y 22 LnadbFelolo :r ,R Teoswterirc Ated Tel.: +91.124 .4545300 Website: www.icra.in DDLLFF CCyybbeerr CCiittyy,, PPhhaassee IIII CIN: L749999DL1991PLC042749 Email: info@icraindia.com GGuurruuggrraamm 112222000022,, HHaarryyaannaa Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, BarakhambaRoad, New Delhi 110001. Tel.: +91.11.23357940-41 RATING RESEARCH INFORMATION With kind regards, Yours sincerely, For ICRA Limited P RASH AN Digitally signed by PRASHANT VASISHT T VAS IS HT Date: 2026.07.22 13:01 :22 +05'30' Prashant Vasisht Senior VP and Co-Group Head prashant.vasisht@icraindia.com Sensitivity Label : Restricted Annexure DetailsofBankLimitsRatedbyICRA InstrumentName Amount(Rs.Crore) Rating RatingAssignedOn National Bank for Financing Term Loans 1,150.00 [ICRA]BBB(Stable) July 21, 2026 Infrastructure and Development NotApplicable UnallocatedLimits 1,500.00 [ICRA]BBB(Stable)/[ICRA]A3+ July21,2026 Total 2,650.00 Sensitivity Label : Restricted