Essar Shipping Ltd — Major Shareholding Notification 2025

Dec 9, 2025

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ESSAR SHIPPING MAURITIUS HOLDINGS LIMITED Essar House 10, Frere Felix de Valois Street Port Louis, Mauritius T +230 405 1400 F +230 213 9179 www.essar.com

December 9, 2025

To The Manager Listing Department BSE Limited Phiroze Jeejeebhoy Towers BSE Limited Dalal Street, Fort Mumbai – 400 001 Maharashtra, India BSE Scrip Code: 533704

To The Manager Listing Department National Stock Exchange of India Limited 5[th] Floor, Exchange Plaza Plot No. C/1, G - Block Bandra-Kurla Complex Bandra East Mumbai – 400 051 Maharashtra, India NSE Code: ESSARSHPNG

Dear Sir/s,

Subject: Intimation Under Regulation 10(5) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the Takeover Regulations)

Target Company: Essar Shipping Limited

We, Essar Shipping Mauritius Holdings Limited, a Company Incorporated under the Laws of the Republic of Mauritius, are holding Equity Shares of Essar Shipping Limited (the Target Company), as a part of the Promoters Group, of the Target Company.

We intend to acquire from IDH International Drilling Holdco Limited, who are a part of Promoters Group, of the Target Company, by way of, ‘ inter-se’, transfer, 10.34% Equity Shares of the Target Company.

The proposed acquisition is pursuant to, ‘ inter-se ’, transfer of Equity Shares, amongst qualifying persons, as specified in Regulations 10(1)(a)(iii) of the Takeover Regulations.

The Form as prescribed under Regulation 10(5) of the Takeover Regulations, as amended, from time-to-time, setting-out the details of the proposed acquisition of Equity Shares of the Target Company, by way of, ‘ inter-se’, transfer is enclosed alongwith this Letter of Intimation.

We request you to kindly take this intimation on records.

Thanking You!

Yours Sincerely

For Essar Shipping Mauritius Holdings Limited

Jayram Mangesh Director

Enclosure: Disclosures under Regulation 10(5) – Intimation to Stock Exchanges in respect of acquisition under Regulation 10(1) (a) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Registered Office: Essar House, 10, Frere Felix, de Valois Street, Port Louis, Mauritius ENERGY | INFRASTRUCTURE | METALS & MINING | TECHNOLOGY & RETAIL

Format for Disclosures under Regulation 10(5) – Intimation to Stock Exchanges in respect of acquisition under Regulation 10(1) (a) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Sr.	Particulars	Particulars	Details
No
1.	Name of the Target Company (TC)		Essar ShippingLimited
2.	Name of the acquirer(s)		Essar Shipping Mauritius Holdings Limited
3.	Whether the acquirer(s) is/ are promoters of the TC prior to the transaction. If not, nature of relationship or association with the TC or its promoters		Yes
4.	Details of theproposed acquisition
	a.	Name of the person(s) from whom shares are to be acquired	IDH International Drilling Holdco Limited
	b.	Proposed date of acquisition	Anytime after 4 working days from the date of this intimation
	c.	Number of shares to be acquired from eachperson mentioned in 4(a)above	2,14,06,365 Equity Shares
	d.	Total shares to be acquired as % of share capital of TC	10.34%
	e.	Price at which shares are proposed to be Acquired	Rs. 35.25
	f.	Rationale, if any, for the proposed transfer	_inter-se_transfer of shares amongst Promoter Group
5.	Relevant sub-clause of regulation 10(1)(a) under which the acquirer is exempted from making open Offer		Regulation 10(1)(a)(ii) of the SEBI (SAST) Regulations, 2011
6.	If, frequently traded, volume weighted average market price for a period of 60 trading days preceding the date of issuance of this notice as traded on the stock exchange where the maximum volume of trading in the shares of the TC are recorded duringsuchperiod.		Rs. 35.25
7.	If in-frequently traded, the price as determined in terms of clause (e) of sub-regulation (2) of Regulation 8.		NA
8.	Declaration by the acquirer, that the acquisition price would not be higher by more than 25% of the price computed in point 6 or point 7 as applicable		The Acquirer do hereby declare that the acquisition price would not be higher by more than 25% of the price computed inpoint 6
9.	Declaration by the acquirer, that the transferor and transferee have complied / will comply with applicable disclosure requirements in Chapter V of the Takeover Regulations, 2011 (corresponding provisions of the repealed Takeover Regulations 1997)		With respect to inter-se transfer of shares in terms of regulation 10(1)(a)(ii) of SEBI (SAST) Regulation, 2011 and amendments thereto, it is hereby declared and confirmed that the Transferor and Transferee have complied / will comply with applicable disclosure requirements in chapter V of the Takeover Regulations,2011

Sr.	Particulars	Particulars	Particulars	Details	Details	Details	Details	Details
No
10.	Declaration by the acquirer that all the conditions			The acquirer hereby confirm and
	specified under regulation 10(1)(a) with respect t exemptions has been duly complied with.		o	declare that all the conditions specified under regulation 10(1)(a)(ii) with respect to exemptions has been duly complied with.
11.	Shareholding details			Before the		After the
				proposed		proposed
				Transaction		Transaction
				No. of	% w.r.t	No. of	% w.r.t
				shares	total	shares	total
				/voting	share	/voting	share
				rights	capital of	rights	capital
					TC		of TC
	a	Acquirer(s)and PACs(other than sellers)(*)
		Essar ShippingMauritius Holdings Limited		12,43,62,408	60.09	145,768,773	70.43
		Imperial Consultants and Securities Private Limited		68,78,409	3.32	68,78,409	3.32
		Essar Investment Holdings Mauritius Limited		33	0	33	0
	b	Seller(s)
		IDH International DrillingHoldco Limited		2,14,06,365	10.34	0	0

For Essar Shipping Mauritius Holdings Limited

Jayram Mangesh Director