Pine Labs Limited — Major Shareholding Notification 2026

May 30, 2026

SBI MUTUAL FUND
A PARTNER FOR LIFE
SBI Funds Management Limited
A joint venture between SBI & AMUNDI (CIN - U65990MH1992PLC065289)

FM/CS/2026/243

May 29, 2026

Mr. Neerav Mehta
Company Secretary and Compliance Officer
Pine Labs Limited
Unit No. 408, Time Tower, 4th Floor, MG Road,
DLF QE, Gurgaon, Haryana, 122002

Dear Sir/Madam,

Sub: Reporting under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011

We wish to inform you that there has been a change in the shareholding of SBI Mutual Fund under its various schemes, in your company increasing by 2% from the previous disclosure made by us under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, vide letter no. FM/CS/2026/94 dated February 24, 2026 wherein the reported holding was 5.0147% of the paid up share capital of your company.

SBI Mutual Fund, under its various schemes has made purchase of 1,50,55,164 shares representing 1.3111% of the paid-up share capital of your Company. The final holding of SBI Mutual Fund, under its various schemes, as at the close of business hours on May 27, 2026, was 8,50,85,818 shares which is 7.4099% of the paid-up share capital of your Company.

Pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, please find enclosed the required disclosure, as prescribed in the said regulations.

Thanking you,

Yours faithfully,

For SBI Funds Management Limited

V. Patar

Vinaya Datar
Chief Compliance Officer, Company Secretary & Head Legal

Encl: As Above

c.c. 1. National Stock Exchange of India Limited
Listing Department
Exchange Plaza
Plot no. C/1, G Block
Bandra-Kurla Complex
Bandra (East)
Mumbai - 400051

1. General Manager
   Department of Corporate Services
   BSE Limited
   Phiroze Jeejeebhoy Towers
   Dalal Street
   Mumbai - 400001

Trustee : SBI Mutual Fund Trustee Company Private Limited (CIN : U65991MH2003PTC138496)
Regd. Office : 9th Floor, Crescenzo, C-38 & 39, 'G' Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051
Tel. : +91 22 61793000 | Fax : 67425687-91 | E-mail : partnerforlife@sbimf.com | Website : www.sbimf.com
Branch Office : Unit No. 31 | CR2 Mall | Plot No. 240 & 240A | Backbay Reclamation | Block No. III | Nariman Point | Mumbai-400 021
Tel. : +91 22 66532800 | Fax : +91 22 66532801/02 | Website : www.sbimf.com
MUTUAL FUNDS | OFFSHORE FUNDS | PORTFOLIO MANAGEMENT SERVICES | ALTERNATIVE INVESTMENT FUNDS

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SBI MUTUAL FUND
A PARTNER FOR LIFE
SBI Funds Management Limited
A joint venture between SBI & AMUNDI (CIN - U65990MH1992PLC065289)

Format for disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

1. Name of the Target Company (TC)	PINE LABS LIMITED
2. Name(s) of the acquirer and Persons Acting in Concert (PAC) with the acquirer	SBI Mutual Fund under its various schemes
3. Whether the acquirer belongs to Promoter/Promoter group	N.A.
4. Name(s) of the Stock Exchange(s) where the shares of TC are Listed	BSE Ltd / National Stock Exchange of India Ltd
5. Details of the acquisition / disposal as follows	Number	% w.r.t. total share/voting capital wherever applicable (*)	% w.r.t. total diluted share/voting capital of the TC(**)
Before the acquisition/disposal under consideration, holding of:
a) Shares carrying voting rights	7,00,30,654	6.0988%	N.A.
b) Share in the nature of encumbrance (pledge/ lien/ non-disposal undertaking/ others)	N.A.	N.A.	N.A.
c) Voting rights (VR) otherwise than by shares	N.A.	N.A.	N.A.
d) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category)	N.A.	N.A.	N.A.
Total (a+b+c+d)	7,00,30,654	6.0988%	N.A.
Details of acquisition/sale
a) Shares carrying voting rights acquired/sold	1,50,55,164	1.3111%	N.A.
b) VRs acquired /sold otherwise than by shares	N.A.	N.A.	N.A.
c) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) acquired/sold	N.A.	N.A.	N.A.
d) Shares encumbered/ invoked/ released by the acquirer	N.A.	N.A.	N.A.
Total (a+b+c+d)	1,50,55,164	1.3111%	N.A.
After the acquisition/sale, holding of:
a) Shares carrying voting rights	8,50,85,818	7.4099%	N.A.
b) Shares encumbered with the acquirer	N.A.	N.A.	N.A.
c) VRs otherwise than by shares	N.A.	N.A.	N.A.
d) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition.	N.A.	N.A.	N.A.
Total (a+b+c+d)	8,50,85,818	7.4099%	N.A.
6. Mode of acquisition / sale (e.g. open market / off-market / public issue / rights issue / preferential allotment / inter-se transfer etc).	Market Purchase
7. Date of acquisition / sale of shares / VR or date of receipt of intimation of allotment of shares, whichever is applicable	Acquired 15,055,164 shares on 27-May-2026
8. Equity share capital / total voting capital of the TC before the said acquisition / sale	Rs 1,14,82,76,377 consisting of 1,14,82,76,377 equity shares having a face value of Re. 1/- each.
9. Equity share capital/ total voting capital of the TC after the said acquisition / sale	Rs 1,14,82,76,377 consisting of 1,14,82,76,377 equity shares having a face value of Re. 1/- each.
10. Total diluted share/voting capital of the TC after the said acquisition/sale.	N.A.

() Total share capital/ voting capital to be taken as per the latest filing done by the company to the Stock Exchange under Clause 35 of the listing Agreement.
(*) Diluted share/voting capital means the total number of shares in the TC assuming full conversion of the outstanding convertible securities/warrants into equity shares of the TC.

RAVIPrakash Sharma
Chief Dealer

Aparna Nirgude
Chief Risk Officer

Place: Mumbai
Date: 29-May-2026