Lupin Ltd — Capital/Financing Update 2023

May 5, 2023

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May 5, 2023

National Stock Exchange of India Ltd.

Exchange Plaza, 5[th] Floor Plot no. C1/G Block, Bandra Kurla Complex Bandra (E), Mumbai – 400 051

NSE - LUPIN

Dear Sir/Madam,

Sub: Disclosure pursuant to Regulation 30 of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015.

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This is to inform you that as approved by the Nomination and Remuneration Committee, on May 4, 2023, the Company granted stock options aggregating 13953 to employees of an overseas subsidiary of the Company, at the exercise price of 2.00 each, under Lupin Subsidiary Companies Employees Stock Option Plan 2014.

Please note that upon vesting, one stock option entitles the grantee to subscribe to one equity share of the Company of ₹ 2.00 each. The vesting schedule of the options will be 25%:25%:25%:25% over four years upon completion of one year from the date of grant, which is May 4, 2023.

Kindly take the above on your records.

Thanking you,

For LUPIN LIMITED

Rajvardhan

Vishnu Satam

Digitally signed by Rajvardhan Vishnu Satam DN: c=IN, st=Maharashtra, 2.5.4.20=c19d8ef961d9fa59e973a093a4d3924b2532eb2f496ea7e2abcf7 4700f5375b7, postalCode=400104, street=2404,SEJAL TOWER,SEJAL PARK,LINK ROAD,GOREGAON WEST,Mumbai,Motilal Nagar,Borivali,Mumbai Suburban, pseudonym=9a4b7cd219ea516ad56e6d651dcbbe5b, title=0191, serialNumber=df8ebe60a88c796663c738ea25bfa0b475d195f726cdb67 a2ff09c4242771b2a, o=Personal, cn=Rajvardhan Vishnu Satam Date: 2023.05.05 11:41:20 +05'30'

R. V. SATAM COMPANY SECRETARY (ACS-11973)

Registered Office: 3[rd] Floor, Kalpataru Inspire, Off W. E. Highway, Santacruz (East), Mumbai - 400 055 India. Tel: (91-22) 6640 2323. Corporate Identity Number: L24100MH1983PLC029442 www.lupin.com