Bharat Heavy Electricals Ltd. — Capital/Financing Update 2026

Feb 4, 2026

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Ref: CC/MISC/2025-26/56 Date: 04.02.2026

To

1. BSE Limited, Mumbai

2. National Stock Exchange of India Ltd., Mumbai

Subject: Receipt of LOI

Sir/Madam,

Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) from HINDALCO Industries Limited. Details are enclosed at Annexure I.

Digitally signed by SAYED SAYED SALAHUDDIN SALAHUDDIN Date: 2026.02.04 12:49:03 +05'30'

(Sayed Salahuddin) Manager, Corporate Communication, BHEL

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Annexure I

a) Name of the entity awarding the order(s)/contract(s);

Reply: HINDALCO Industries Limited (HIL).

b) Significant terms and conditions of order(s)/contract(s) awarded in brief;

Reply: Letter of Intent (LOI) received on 3[rd] February 2026 for Design, Engineering, Supply of equipment, Installation, Commissioning and Performance Acceptance Test (PAT) for 2 x 150 MW BTG Package for Aditya Expansion Project Phase II at Aditya Aluminium, Hindalco Industries Limited at Lapanga, Sambalpur in the state of Odisha, India.

c) Whether order(s) / contract(s) have been awarded by domestic/ international entity;

Reply: Domestic Entity

d) Nature of order(s) / contract(s);

Reply: Design, Engineering, manufacture, supply up to site, unloading & Storage, Erection, Commissioning and performance guarantee test for 2 x 150 MW BTG Package excluding civil work.

e) Whether domestic or international;

Reply: Domestic Tender

f) Time period by which the order(s)/contract(s) is to be executed;

Reply: Commissioning of BTG Package within 35 Months for Unit 1 & 37 Months for Unit 2 from the effective date of contract (Effective date of contract shall be the date of Letter of Intent)

g) Broad consideration or size of the order(s)/contract(s);

Reply: Approx. INR 1200-1500 Crores excluding GST

h) Whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof;

Reply: No.

i) Whether the order(s)/contract(s) would fall within related party transactions? If yes, whether the same is done at “arms length”.

Reply: No.

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