Max Estates Limited — Share Issue/Capital Change 2026

May 22, 2026

MAX

ESTATES

May 22, 2026

BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai – 400 001

Scrip Code: 544008

The National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex
Bandra (East)
Mumbai – 400 051

SYMBOL: MAXESTATES

Sub: Intimation for Grant of Stock Options under the Max Estates Employee Stock Option Plan 2023 (“ESOP Plan”)

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that the Nomination and Remuneration Committee in its meeting held today, i.e. May 22, 2026, has, inter-alia, considered and approved the Grant of stock options under the ESOP Plan as detailed below:

Particulars	Details for Grant
Brief details of options granted	Grant of 2,71,666 stock options
Whether the scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021	Yes
Total number of shares covered by these options	2,71,666 stock options (each stock option is convertible into one equity share of face value INR 10/- each)
Pricing formula	As per the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (“SEBI ESOP Regulations 2021”)
Exercise Price	INR 203/- per option
Vesting Schedule	Vesting Schedule:
4 years vesting:
25% in Year 1 – May 22, 2027
25% in Year 2 – May 22, 2028
25% in Year 3 – May 22, 2029
25% in Year 4 – May 22, 2030

Max Estates Limited

Corporate Office: Max Towers, L-20, C-001/A/1, Sector-16B, Noida-201301, Uttar Pradesh, India, | P: +91 120-4743222
Regd. Office: Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhla Industrial Estate, New Delhi -110020

Email: secretarial@maxestates.in | Website: www.maxestates.in | CIN: L70200DL2016PLC438718

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MAX

ESTATES

Particulars	Details for Grant
Exercise Period	2 years from the date of vesting of each tranche.
Brief details of significant terms	Stock options granted are governed as per the Company's ‘ESOP Plan’, which is administered and implemented by the Nomination and Remuneration Committee of the Company in terms of the SEBI ESOP Regulations 2021.

Note: The requirements prescribed under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated as on January 30, 2026, are not applicable.

The date and time of occurrence of the event is May 22, 2026, at 17:15 hrs. (IST).

You are requested to take the aforesaid on record.

Yours faithfully,

For Max Estates Limited

ABHISHEK
MISHRA
Digitally signed by ABHISHEK
MISHRA
Date: 2026.05.22 23:39:16
+05'30"

Abhishek Mishra
Company Secretary & Compliance Officer

Max Estates Limited

Corporate Office: Max Towers, L-20, C-001/A/1, Sector-16B, Noida-201301, Uttar Pradesh, India, | P: +91 120-4743222
Regd. Office: Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhla Industrial Estate, New Delhi -110020
Email: secretarial@maxestates.in | Website: www.maxestates.in | CIN: L70200DL2016PLC438718