Credit Rating

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 4344 6700 Fax: +91 44 47406190 E-mail: investors@solara.co.in Website: www.solara.co.in Date: June 23, 2026 The BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Bandra-Kurla Dalal Street, Mumbai – 400 001 Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 541540, 890202 Symbol: SOLARA, SOLARAPP1 Dear Sir / Madam, Subject: Credit Rating Pursuant to Regulation 30(6) read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that based on rating assessment undertaken by Crisil Ratings Limited (“CRISIL”), following rating has been received by the Company. Please find below details of the same: Credit Rating Agency Crisil Ratings Limited Instrument Credit Rating for Rs.791.2 Crore Bank Loan Facilities (Long Term and Short Term) Long Term Rating Crisil BBB+/Stable (Upgraded from 'Crisil BBB / Stable') Short term Rating Crisil A2 (Upgraded from 'Crisil A3+ ') The rating letter of CRISIL is attached herewith. We request you to take the above information on your records and disseminate. Thanking You, Yours Faithfully, For Solara Active Pharma Sciences Limited Pooja Jaya Kumar Company Secretary and Compliance Officer Membership No: A57415 Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636 Registered Office: 9th Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703; Tel: +91-22-20870033 CONFIDENTIAL RL/SOAPSL/398425/BLR/0626/150832 June 22, 2026 Mr. Mr. Sarat Kumar Chief Financial Officer Solara Active Pharma Sciences Limited ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 Dear Mr. Mr. Sarat Kumar, Re: Review of Crisil Ratings on the bank facilities of Solara Active Pharma Sciences Limited All ratings assigned by Crisil Ratings are kept under continuous surveillance and review. Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by Crisil Ratings on the ratings as on date. Total Bank Loan Facilities Rated Rs.791.2 Crore Long Term Rating Crisil BBB+/Stable (Upgraded from 'Crisil BBB/Stable') Short Term Rating Crisil A2 (Upgraded from 'Crisil A3+') (Bank-wise details as per Annexure 1) As per our Rating Agreement, Crisil Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. Crisil Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which Crisil Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s. In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from Crisil Ratings will be necessary. Crisil Ratings products / activities or ratings of instruments other than securities that are listed or proposed to be listed may fall under the purview of financial sector regulators (FSRs) other than SEBI. In respect of such products / activities or ratings (under the purview of other FSRs such as Reserve Bank of India (RBI), Ministry of Corporate Affairs (MCA), Insurance Regulatory and Development Authority of India (IRDAI), among others), the grievance / dispute redressal and investor protection mechanisms available under SEBI regulations shall not be applicable. A list of products/activities or ratings of instruments falling under the purview of various FSRs along with the names of respective FSRs has been duly disclosed by Crisil Ratings on its website. A link to the same has been provided below for ready reference: https://www.crisilratings.com/en/home/our-business/ratings/regulatory-disclosures/list-of-activities-instruments-and-names-of- regulators.html This letter will remain valid till March 31, 2027. After this date, please insist for a new rating letter (dated later than March 31, 2027). Should you require any clarification, please feel free to get in touch with us. warm regards, Yours sincerely, Rishi Hari Nivedita Shibu Associate Director - Crisil Ratings Director - Crisil Ratings Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by Crisil Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at Crisilratingdesk@crisil.com or at 1800-267-3850 Annexure 1 - Bank-wise details of various facility classes (outstanding facilities) Amount (Rs. S.No. Bank Facility Bank Outstanding Rating in Crore) 1 Cash Credit YES Bank Limited 65 Crisil BBB+/Stable 2 Cash Credit RBL Bank Limited 50 Crisil BBB+/Stable 3 Cash Credit HDFC Bank Limited 170 Crisil BBB+/Stable 4 Cash Credit ICICI Bank Limited 43 Crisil BBB+/Stable 5 Cash Credit IDFC FIRST Bank Limited 146.5 Crisil BBB+/Stable 6 Letter of Credit HDFC Bank Limited 25 Crisil A2 7 Letter of Credit RBL Bank Limited 100 Crisil A2 8 Letter of Credit IDFC FIRST Bank Limited 3.5 Crisil A2 9 Letter of Credit ICICI Bank Limited 57 Crisil A2 10 Long Term Loan YES Bank Limited 31.2 Crisil BBB+/Stable 11 Long Term Loan HDFC Bank Limited 21.3 Crisil BBB+/Stable Aditya Birla Finance Limited- 12 Long Term Loan 78.7 Crisil BBB+/Stable (Amalgamated) Total 791.2 Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com. Crisil R [Showing first 8,000 characters — download PDF for full document]