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C/1 G Block,BKC, Mumbai-400 051 Scrip Symbol: PANAMAPET Sub: Intimation of credit rating on the Bank Facilities Dear Sir/ Madam, Pursuant to Regulation 30(6) of the SEBI (Lis ting Obligations and Disclosure Requirements), Regulations, 2015 (the “Regulations”), this is to inform you that CARE Ratings Limited has revised the Outlook from Stable to Positive for Long-Term Bank Facilities while reaffirming the ratings, as under: Facilities Rating Rating Action Long-Term Bank Facilities CARE A+;

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Outl ook re vised from ‘Stable’ to Positive’ Short-Term Bank Facilities CARE A1+ Reaffirmed Press Release dated October 12, 2026, issued by the credit rating agency is enclosed herewith.

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1 CARE Ratings Ltd. Press Release Panama Petrochem Limited October 12, 2026 Facilities/Instruments Name of the Regulator1 Amount (₹ crore) Rating2 Rating Action Long-term bank facilities RBI 64.00 CARE A+;

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Rationale and key rating drivers Reaffirmation of ratings assigned to bank facilities of Panama Petrochem Limited (PPL) continue s to derive strengths from its established track record in the petroleum speciality oils business considering four decades of promoters’ experience in the industry and ability to manufacture numerous variants, which cater to diversified industries.

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Revision in outlook from ‘Stable’ to ‘Positive’ factors in operationalisation of new capacities, which is expected to support its growth in scale of operations in the medium term with improvement in profitability and cash accruals levels.

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