Elgi Equipments Ltd. — Capital/Financing Update 2025

May 28, 2025

May 28, 2025

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Na�onal Stock Exchange of India Limited (NSE) Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai - 400 051

NSE Symbol: ELGIEQUIP

BSE Limited (BSE) Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001

BSE Scrip Code: 522074

Dear Madam/ Sir,

Subject: Grant of stock op�ons under ELGi Equipments Limited Employees Stock Op�on Plan, 2019

Pursuant to Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 (“Lis�ng Regula�ons”) and SEBI Master Circular No. SEBI/HO/CFD/PoD2/ CIR/P/0155 dated November 11, 2024, as amended from �me to �me (“SEBI Master Circular”), we hereby inform you that the Nomina�on and Remunera�on Commi�ee of the Company at its mee�ng held today, has approved the grant of 6,09,400 stock op�ons to the eligible employees of the Company and its subsidiaries under the ELGi Equipments Limited Employees Stock Op�on Plan, 2019.

Details as required in accordance with Regula�on 30 of Lis�ng Regula�ons read with SEBI Master Circular are given in the enclosed Annexure.

The Nomina�on and Remunera�on Commi�ee mee�ng was commenced at 12:15 PM and concluded at 13:18 PM.

The above is for your informa�on and record. This informa�on is also being hosted on the website of the Company.

Thanking you,

Yours faithfully

FOR ELGI EQUIPMENTS LIMITED

DEVIKA Digitally signed by DEVIKA SATHYANA SATHYANARAYANA Date: 2025.05.28 RAYANA 13:23:49 +05'30'

DEVIKA SATHYANARAYANA

COMPANY SECRETARY AND COMPLIANCE OFFICER

Encl.: as above

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Details as required in accordance with the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11[th] November 2024, as amended:

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----- Start of picture text ----- Sr. No. Par�culars Detailsa) Brief details of op�ons granted 6,09,400 stock op�ons granted to the eligibleemployees of the Company and its subsidiaries.Each op�on upon exercise would be en�tled theop�on holder for one equity share of Re. 1/- each ofthe Companyb) Whether the scheme is in terms of SEBI Yes(SBEB) Regula�ons, 2021 (if applicable)c) Total number of shares covered by these 6,09,400 equity shares of Re.1/- each (each stockop�ons op�on is conver�ble into 1 equity share of facevalue of Re.1/- each)d) Pricing formula As per Ar�cle 10.4 of ELGi Equipments LimitedEmployees Stock Op�on Plan, 2019 (“Scheme”)Grant price or exercise price of op�ons would bemarket price as on date of grant or such other priceas the Nomina�on and Remunera�on Commi�eemay decide, but not less than the face value of theshare.Further, as per Ar�cle 4.25 of the Scheme, “MarketPrice” means the latest available closing price on arecognized stock exchange on which the shares ofthe Company are listed on the date immediatelyprior to the Relevant Date.Explana�on - If such shares are listed on more thanone stock exchange, then the closing price on thestock exchange having higher trading volume shallbe considered as the Market Price.Further, as per Ar�cle 4.35(i) of the Scheme,“Relevant Date” means, in the case of Grant, thedate of the mee�ng of the Nomina�on andRemunera�on Commi�ee on which the Grant ismade.Basis the above formula, the exercise price wasdetermined to be Rs. 478.25/- per Stock Op�on.e) Op�ons vested Not Applicable, since the said disclosure is beingmade for grant of Op�ons.Further, for the stated grant, the Op�ons shall havea ves�ng period of not more than three years fromthe date of Grant and all Op�ons granted shall vestas per the ves�ng schedule specified in the GrantLe�er.----- End of picture text -----

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----- Start of picture text ----- f) Time within which op�on may be exercised Op�ons shall be exercised within three months fromthe date of ves�ng.g) Op�ons exercisedh) Money realized by exercise of op�onsi) The total number of shares arising as a resultNot Applicable, since the said disclosure is beingof exercise of op�onmade for grant of Op�ons.j) Op�ons lapsedk) Varia�on of terms of op�onsl) Brief details of significant terms The significant terms of the Op�ons granted are asfollow:1. Total number of Stock Op�ons granted are6,09,400.2. Each Stock Op�on is conver�ble into 1 equityshare of face value of Re.1/- each.3. The Exercise Price of each Op�ons is Rs.478.25/-.4. The ves�ng of Stock Op�ons shall be specificfor each Grantee as men�oned in his/hergrant le�er. However, the Maximum Ves�ngPeriod shall be 3 years from the date of grant.5. The ves�ng shall further be subject to specificves�ng condi�ons as men�oned in grant le�erof each Grantee.6. The Exercise Period shall be 3 months from thedate of ves�ng.7. In case of cessa�on of employment, theop�ons shall be treated in the manner asprescribed in the Scheme.m) Subsequent changes or cancella�on or Not Applicable, since the said disclosure is beingexercise of such op�ons made for grant of Op�ons.n) Diluted earnings per share pursuant to issue Not Applicable, since the said disclosure is beingof equity shares on exercise of op�ons made for grant of Op�ons.----- End of picture text -----

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