Credit Rating

Dated: July 1, 2026 Listing Department Listing Department BSE Ltd., National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai- 400001 Bandra (E) Mumbai – 400051 Scrip Code: 532349 Scrip Symbol: TCI Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Credit Rating Dear Sir/Madam, Pursuant to Regulation 30 read with read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations"), as amended, this is to inform you that Care Ratings Limited (“CareEdge Ratings”) has assigned the credit rating for Commercial Paper to the Company as under: Instrument Amount (₹ Crore) Rating Rating Action Commercial Paper 50.00 CARE A1+ Assigned (Carved out)* * Carved out of the sanctioned working capital limits of the company. A copy of letter dated July 1, 2026, issued by CareEdge is enclosed herewith. The above information is also available on the Company’s website at www.tcil.com. You are requested to take the above information on your records. For Transport Corporation of India Limited Hansa Sharma Company Secretary & Compliance Officer (A42616) Encl: a/a No. CARE/NRO/RL/2026-27/1575 Shri Ashish Tiwari Chief Finance Officer Transport Corporation Of India limited Flat no. 69, TCI House Institutional Area, Sector- 32 Gurugram Haryana 122002 July 01, 2026 Confidential Dear Sir, Credit rating for proposed Commercial Paper (CP) issue of Rs.50.00 crore Please refer to your request for rating of proposed CP issue of your company, for a limit of Rs.50.00 crore with a maturity not exceeding one year . 2. The following rating(s) has been assigned by our Rating Committee: Amount Instrument Rating1 Rating Action (₹ crore) Commercial Paper 50.00 CARE A1+ Assigned (Carved out)* Carved out of the sanctioned working capital limits of the company. 3. Please arrange to get the rating revalidated in case the proposed CP issue is not made within two months from the date of our initial communication of rating to you i.e. by August 31, 2026. Once the CP is placed, the rating is valid for the tenure of such instrument till redemption. 4. In case there is any change in the size or terms of the proposed issue, please get the rating revalidated. 5. Please inform us the below-mentioned details of issue immediately, but not later than 7 days from the date of placing the instrument: Issue Name and Coupon Details Instrument Size Coupon Terms of Redemption contact ISIN Payment of top 10 type (Rs Rate Redemption date details of Dates investors cr.) Trustee/IPA 1 This represents the aggregate of all CP issuances of the company outstanding at any point in time. CARE Ratings Limited Plot no. C-001 A/2 Sector 16B, Berger Tower, Gautam Corporate Office :4th Floor, Godrej Coliseum, Budh Nagar, Noida, (UP) - 201301 Somaiya Hospital Road, Off Eastern Express Phone: +91-120-4452000 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 1 of 3 6. The rating report for the rating will be communicated to you separately. A write-up (press release) on the above rating is proposed to be issued to the press by the end of the day, a draft of which is enclosed for your perusal as Annexure. We request you to peruse the annexed document and offer your comments if any. We are doing this as a matter of courtesy to our clients and with a view to ensure that no factual inaccuracies have inadvertently crept in. Kindly revert as early as possible. In any case, if we do not hear from you by the end of the day, we will proceed on the basis that you have no any comments to offer. 7. CARE Ratings Ltd. reserves the right to undertake a surveillance/review of the rating from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year. 8. CARE Ratings Ltd. reserves the right to revise/reaffirm/withdraw the rating assigned as a result of periodic review/surveillance, based on any event or information which in the opinion of CARE Ratings Ltd. warrants such an action. In the event of failure on the part of the entity to furnish such information, material or clarifications as may be required by CARE Ratings Ltd. so as to enable it to carry out continuous monitoring of the rating of the debt instruments, CARE Ratings Ltd. shall carry out the review on the basis of best available information throughout the life time of such instruments. In such cases the credit rating symbol shall be accompanied by “ISSUER NOT COOPERATING”. CARE Ratings Ltd. shall also be entitled to publicize/disseminate all the afore-mentioned rating actions in any manner considered appropriate by it, without reference to you. 9. Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades. 10. Users of this rating may kindly refer our website www.careratings.com for latest update on the outstanding rating. 11. CARE Ratings Ltd. ratings are not recommendations to buy, sell, or hold any securities. If you need any clarification, you are welcome to approach us in this regard. We are indeed, grateful to you for entrusting this assignment to CARE Ratings Ltd. Thanking you, Yours faithfully, CARE Ratings Limited Plot no. C-001 A/2 Sector 16B, Berger Tower, Gautam Corporate Office :4th Floor, Godrej Coliseum, Budh Nagar, Noida, (UP) - 201301 Somaiya Hospital Road, Off Eastern Express Phone: +91-120-4452000 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 2 of 3 Utkarsh Sogani Sahil Goyal Lead Analyst Associate Director utkarsh.sogani@careedge.in sahil.goyal@careedge.in Encl.: As above Disclaimer This disclaimer pertains to the ratings issued and content published by CARE Ratings Limited (“CareEdge Ratings”). Ratings are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse, or recall the concerned bank facilities or to buy, sell, or hold any security. Any opinions expressed herein are in good faith and are subject to change without notice. The rating reflects the opinions as on the date of the rating. A rating does not convey suitability or price for the investor. The rating agency does not conduct an audit on the rated entity or an independent verification of any information it receives and/or relies on for the rating exercise. CareEdge Ratings has based its ratings/outlook on the information obtained from reliable and credible sources. CareEdge Ratings does not, however, guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. The users of the rating should rely on their own judgment and may take professional advice while using the rating in any way. CareEdge Ratings shall not be liable for any losses that user may incur or any financial liability whatsoever to the user of the rating. The use or access of the rating does not create a client relationship between CareEdge Ratings and the user. CAREEDGE RATINGS DISCLAIMS WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR OTHER WARRANTIES OR CONDITIONS, TO THE EXTENT PERMITTED BY APPLICABLE LAWS, INCLUDING WARRANTIES OF MERCHANTABILITY, ACCURACY, COMPLETENESS, ERROR-FREE, NON- INFRINGEMENT, NON-INTERRUPTION, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE OR INTENDED USAGE. Most entities whose bank facilities/instruments are rated by CareEdge Ratings have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CareEdge Ratings or its subsidiaries/associat [Showing first 8,000 characters — download PDF for full document]