REC LIMITED — Share Issue/Capital Change 2025

May 20, 2025

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----- Start of picture text ----- Jyoti Shubhra Amitabh Digitally signed by Jyoti Shubhra Amitabh DN: c=IN, o=Personal,CID - 6992566, pseudonym=20240829162233235, 2.5.4.20=96ed5c3c20972a0f47df962fdc4a780c9e9024cf91b3ff6f7d5f85abae7d8510, postalCode=201301, st=Uttar Pradesh, title=0573, serialNumber=159303584c6c1556d495ded817d8acafb7052d4bc2ffef2356115a0e92ae00ac, cn=Jyoti Shubhra Amitabh Date: 2025.05.20 17:58:35 +05'30'----- End of picture text -----

IncorporationofWhollyOwnedLimited"	IncorporationofWhollyOwnedLimited"	Subsidiary named"MekhaliPowerTransmission
SI.ParticularsNo.		Details
I.	Nameofthe target entity,details in brief suchassize,turnover etc.	Name: MekhaliPowerTransmission LimitedAuthorized Capital:~5 ,00 ,000/-Paid up Capital:~5 ,00 ,000/ -Turnover:NotApplicable (Itisa newly incorporatedCompanyandisyet to commence its business).Energy departmentofGovernmentofKamataka videorder dated March 4, 2025hadallocated oneintra-state transmission project, whereinRECPowerDevelopment and Consultancy Limited (RECPDCL)has been appointed to act as Bid Process Coordinator(EPC)forthe purposeofselectionofBidder forEstablishing 400KVSubstation at Mekhali alongwith associated transmission lines (Eelagavi District,Karnataka).In viewofthe above, Mekhali Power TransmissionLimited has been incorporatedonMay20, 2025.After selectionofthe successful bidder in accordancewith the Tariff Based Competitive Bidding (TBCB)guidelines, said company wouldbetransferred to thesuccessful bidder along with all assets&liabilities.
2.	Whethertheacquisitionwould fall within relatedpartytransaction(s)andwhetherthepromoter/promotergroup/groupcompanies have any interestin the entity being acquired?Ifyes, natureofinterest anddetails thereof and whetherthe sameisdone at "arm'slength"	Mekhali Power Transmission Limitedisa WhollyOwned SubsidiaryofRECPDCL, therefore itisarelated partyoftheREC Limited.The Promoter, promoter group/ group companies donot have any interest in Mekhali Power TransmissionLimited except to the extentofits shareholding.
3.	Industry to which the entitybeing acquired belongs	Power Sector.
4.	Objectsandeffectsofacquisition (including butnot limited to, disclosureof	The Company has been incorporated for Establishing400KVSubstation at Mekhali along with associatedtransmission lines~~(Belagavi District,~~Kamataka).

	for. ..ofreasonsacqUlSitJ.ontarget entity,ifits businessisoutside themamlineofbusiness ofthelisted entity)
5.	Briefdetailsofanygovernmental or regulatoryapprovals required for theacquisition	Incorporated pursuant to orderofEnergy departmentofGovernmentofKarnataka dated March 4, 2025,whereinRECPDCLhas been nominated as BPC.
6.	Indicative time period forcompletionofthe acquisition	NotApplicable.
7.	Natureofconsideration-whether cash considerationorshare swap and detailsofthe same	100% subscription to the equity share capital in cash.
8.	Costofacquisitionorthepriceatwhich the shares areacquired	100% subscription to the equity share at face value.
9.	Percentageofshareholding /control acquiredand/ ornumberofshares acquired	100%
10.	Brief background about theentity acquired in termsofproducts/ lineofbusinessacquired,dateofincorporation, historyoflast3 years turnover, country inwhich the acquired entity haspresenceandanyothersignificant information (inbrief)	RECPDCL_inter-alia_acts as the "BPC" for selectionofTransmission Service Provider through TBCBprocess, for independent inter-stateandintra-statetransmission project assigned by the MinistryofPowerandState Governments from time to time.