Raymond Limited — Capital/Financing Update 2024

May 3, 2024

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RL/SE/24-25/019 May 3, 2024

To

The Department of Corporate Services - CRD National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5[th] Floor P.J. Towers, Dalal Street Bandra-Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 500330 Symbol: RAYMOND

Dear Sir/ Madam,

Sub: Intimation for Grant of Options under Raymond Employees Stock Option Plan 2023 (‘Raymond ESOP 2023’)

Further to our letter no. RL/SE/23-24/50 dated May 13, 2023 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR') and subject to the provisions of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 , we wish to inform you that the Nomination and Remuneration Committee (‘NRC’) of the Company at its meeting held today, has approved grant of 22,443 Stock Options to an eligible employee of the Company under the Raymond ESOP 2023.

The relevant disclosure as required under Regulation 30 of the SEBI LODR read with Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is enclosed as Annexure I.

The NRC meeting commenced at 10:30 a.m. (IST) and concluded at 11:30 a.m. (IST).

The intimation is also being uploaded on the Company's website at www.raymond.in.

Kindly take the above-mentioned information on record.

Thanking You,

Yours faithfully,

For Raymond Limited

Rakesh Digitally signed by Rakesh Muljibhai Muljibhai Darji Date: 2024.05.03 Darji 11:35:00 +05'30'

Rakesh Darji Company Secretary

Encl: As above

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Annexure I

Disclosure under Regulation 30 of the SEBI LODR read with SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023:

Sr. No.	Particulars	Details
1.	Brief details of options granted	22,443 Options are granted by the Nomination andRemuneration Committee to an eligible employee underthe Raymond ESOP 2023.
2.	Whether the scheme is in termsof SEBI (Share Based EmployeeBenefitsandSweatEquity)Regulations,2021[SEBI(SBEBSE) Regulations]	Yes.
3.	Total number of shares coveredby these options	22,443 equity shares of face value of Rs.10/- each of theCompany.
4.	Pricing formula	The Options are being granted at Rs. 2,294.55/- (TwoThousand Two Hundred Ninety Four Rupees and FiftyFive Paise) per Option which is not less than the MarketPrice i.e. closing price on May 2, 2024 on National StockExchange of India Limited (having highest tradingvolume) being the grant date of options.
5.	Time within which option maybe exercised	The exercise period shall be a maximum of five (5) yearsfrom the date of respective vesting of Options.
6.	Brief details of significant terms	The Raymond ESOP 2023 is being administered throughthe Trust. Each Option when exercised would beconverted into One (1) Equity Share of face value of Rs.10 each/-.The Options granted to any Employee shall vest withinthe Vesting Period in the manner as set forth in the Grantletter subject to maximum period of 5 years from thedate of grant. There shall be a minimum period of oneyear between the Grant of Options and Vesting ofOptions. Subject to the terms of the ESOP Scheme Plan,the Vesting of Options shall be Time based and / orPerformance based (market capitalization, revenue,EBITDA, Return on Capital Employed and such otherparameters as may be determined by NRC) as mentionedin the Grant Letter.The Equity Shares to be allotted pursuant to the exerciseof the stock options, would be_pari-passu_with theexisting Equity shares in all respects and would not besubject to lock-in.

Note: Details such as options vested, options exercised, options lapsed, money realized by exercise of options, total number of shares arising as a result of exercise of options, variation of terms of options, subsequent changes/cancellation/exercise of such options, diluted earnings per share pursuant to issue of equity shares on exercise of options, etc. specified by SEBI Listing Regulations/ Circular are not applicable as of now.

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