Persistent Systems Limited — Regulatory Filings 2021

Nov 23, 2021

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NSE & BSE / 2021-22 / 103

November 23, 2021

The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Ref: Symbol: PERSISTENT

The Manager, Corporate Services, BSE Limited 14[th] Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Scrip Code: 533179

Dear Sir/Madam,

• Sub.: Intimation of continuation of proposed Secondary Market Purchase of Persistent Shares by ESOP Trust in a scheduled manner

• Ref.: Our Letter bearing Ref. No.

1. NSE&BSE/2014-15/32 dated July 26, 2014 for approval of PESOS 2014 Scheme and permitted Secondary Market Purchase for creation of pool of shares for the same

2. NSE&BSE/2016-17/55 dated July 21, 2017 for shareholders' approval of ESOP 2017 Scheme and permitted secondary market purchase for creation of pool of shares for the same

3. NSE&BSE/2021-22/58 dated July 22, 2021 for shareholders' approval of amendments to PESOS 2014 and ESOP 2017 Schemes and permitted additional secondary market purchase for creation of pool of shares for the same

4. NSE & BSE / 2021-22 / 67 dated July 29, 2021 regarding proposed Secondary Market Purchase of Persistent Shares by ESOP Trust in a scheduled manner

We refer to our above-mentioned letters dated July 26, 2014, July 21, 2017 and July 22, 2021 intimating the shareholders' approval for Persistent Employees Stock Option Scheme 2014 ('PESOS 2014') and Employee Stock Option Plan 2017 ('ESOP 2017') of the Company and permitted additional secondary market purchase for addition to the pool of shares for the same. We also refer to our above-mentioned letter dated July 29, 2021 intimating proposed Secondary Market Purchase of Persistent Shares by ESOP Trust in a scheduled manner.

The above schemes are being managed and administered by PSPL ESOP Management Trust (ESOP Trust) in terms of the shareholders' approval.

In terms of the above schemes, read with the amendments approved by the shareholders at the Annual General Meeting held on July 21, 2021, the pool of shares to be transferred by the ESOP Trust to the eligible employees upon their RSU/ ESOP exercise would be created by a mix of purchasing Company shares by the ESOP Trust from the secondary market and fresh issue of shares by the Company to the ESOP Trust.

As regards purchase of shares by the ESOP Trust from the secondary market, based on the grants made by the Company, the current requirement for creation of sufficient pool of Company shares for honoring exercise of RSUs/ ESOPs being vested under the PESOS 2014 and ESOP 2017 Scheme is 1,552,500 Company shares.

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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Also, further to the above referred earlier intimation dated July 29, 2021, ESOP Trust has acquired 800,000 Equity Shares from the open market as the secondary purchase.

Accordingly, in continuation to the requirements of secondary purchase, it has been decided to additionally acquire 300,000 Company Shares from Secondary Market through ESOP Trust in the following manner:

• a. Purchase of shares up to 75,000 (Seventy Five Thousand only) shares per week in multiple tranches over the next 2 months, except Trading Window closure periods.

• b. Necessary disclosures will be made by the Trust after every trade as per the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company Code of Conduct for this purpose.

• c. Above Purchase Plan will continue till additional 300,000 shares are purchased after adhering to the restrictions on the ESOP Trust as per the SEBI (Share Based Employee Benefits) Regulations, 2014.

The above plan of purchase will be executed from Thursday, November 25, 2021.

This is for your information and record.

Please acknowledge the receipt.

Thanking you, Yours Sincerely, For Persistent Systems Limited

Digitally signed by AMIT MURARI AMIT MURARI ATRE ATRE Date: 2021.11.23 14:53:45 +05'30' Amit Atre Company Secretary ICSI Membership No.: A20507

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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