SOLARA ACTIVE PHARMA SCIENCES LIMITED — Board/Management Information 2025

Feb 21, 2025

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

February 21, 2025

Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051

The BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra-Kurla Complex

Scrip Code: 541540, 890202 Scrip Code: SOLARA, SOLARAPP

Dear Sir/Madam,

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Outcome of Board Meeting dated February 21, 2025

Pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015('SEBI Listing Regulations'), this is to inform you that the Board of Directors of the Company based on the recommendation of the Nomination and Remuneration Committee and Audit Committee, at its meeting held today i.e. February 21, 2025, inter- alia, transacted and approved the following businesses:

• a) The proposal for closure of Solara Active Pharma Sciences LTDA, Brazil, Wholly Owned Subsidiary ("WoS") of the Company as there were no operations.
• b) The Nomination and Remuneration Committee had approved the grant of 3,50,000 ESOP options to the eligible employees under Solara Employee Stock Option Plan, 2024 at Rs. 375/- per option (exercise price). The shares covered by such options are 3,50,000 equity shares.
• c) Based on the recommendation of the Nomination and Remuneration Committee and Audit Committee, the Board of Directors have approved the following changes of Board and Management as stated hereunder:

Sl. No.	Name of the Official	Resignation / Appointment
1	Mr. Sandeep Rao	Appointment as an Additional Director - Managing Director
	(DIN: 10838251)	("MD") and Chief Executive Officer ("CEO") on the Board
		of Directors of the Company with effect from February 21,
		2025 for a term of 3 (three) years subject to approval of the
		Shareholders of the Company.
2	Mr. Poorvank Purohit	He tendered his resignation as the MD & CEO of the
	(DIN: 10158900)	Company, with effect from February 21, 2025, citing personal
		reasons. Consequently, he shall also cease to be the Director
		and Member of the Committees of the Company. We further
		confirmed that there are no material reasons other than the
		reasons specified in the resignation letter received from Mr.
		Poorvank Purohit.
3	Mr. Sarat Kumar	Appointment as a Chief Financial Officer ("CFO") of the
		Company and designated him as Key Managerial Personnel
		("KMP") with effect from February 21, 2025
4	Mr. Arun Kumar	He tendered his resignation as a Chief Financial Officer &
	Baskaran	KMP with effect from February 21, 2025 citing personal
		reasons.

Communication Address: Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

5	Mr. Vishal Mathur	Appointment of Mr. Vishal Mathur as a Chief Business
		Officer (CBO) in the capacity of Senior Management
		Personnel

Further, in terms of BSE Circular bearing Reference No. LIST/COMP/14/2018-19 and NSE Circular bearing Reference No. NSE/CML/2018/24 dated June 20, 2018, we wish to confirm that Mr. Sandeep Rao is not debarred from accessing capital markets and /or restrained from holding the office of Director by virtue of any order of the Securities and Exchange Board of India ("SEBI") or any other such authority. Brief Profile of Mr. Sandeep Rao, Mr. Sarat Kumar and Mr. Vishal Mathur is enclosed herewith in Annexure – I. The resignation letter as received from Mr. Poorvank Purohit and Mr. Arun Kumar Baskaran are enclosed as Annexure – II, pursuant to Clause 7C of Para A of Part A of the Listing Regulations.

In terms of Regulation 30(5) of the SEBI Listing Regulations, Mr. Sandeep Rao and Mr. Sarat Kumar is also authorized to determine materiality of an event or information for the purpose of making disclosures relating to the Company to the Stock Exchanges.

#	Particulars	#	#
1	Name	Mr. Sandeep Rao	Mr. Sarat Kumar
2	Designation	Managing Director & Chief	Chief Financial Officer
		Executive Officer
3	Effective Date of Appointment	February 21, 2025	February 21, 2025
4	E-mail Id	Investors@solara.co.in	Investors@solara.co.in
5	Contact No.	+91 44 4740 6200	+91 44 4740 6200

Accordingly, the contact details of Mr. Sandeep Rao and Mr. Sarat Kumar is provided below:

The information in regard to the abovementioned on proposal for Closure of the WoS, Change in Directors/ Key Managerial Personnel and Grant of ESOP options to the eligible employees under Solara ESOP 2024 and the in terms of Regulation 30 read with Schedule III - Para A (1) and (7C) and Para B (10) respectively of Part A and of the SEBI Listing Regulations (as applicable) and SEBI Circular bearing Ref. No. CIR/CFD/CMD/4/2015 dated September 09, 2015 read with Circular Ref. No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is enclosed herewith as Annexure – I (A, B and C respectively).

Consequent to the resignation of Mr. Poorvank Purohit and Appointment of Mr. Sandeep Rao, the Risk Management Committee, Corporate Social Responsibility Committee and Stakeholder Relationship Committee have been reconstituted, which is enclosed as Annexure – III.

We request you to take the same on record and the same be treated as compliance under the applicable provisions of the SEBI Listing Regulations, as amended.

The Board Meeting commenced at 15:45 P.M and concluded at 16:50 P.M.

Thanking you, Yours faithfully, For Solara Active Pharma Sciences Limited

Encl.: As above SUDDAPALLI MURALIKRISHNA Digitally signed by SUDDAPALLI MURALIKRISHNA Date: 2025.02.21 17:10:12 +05'30'

S. Murali Krishna Company Secretary & Compliance Officer

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636 REGD. OFF: 201, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 / Fax: 91-22-2789 2942

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Annexure – I (A)

Details under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 read along with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 read with Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/ 2023/123 dated July 13, 2023

Sr.	Particulars	Resignation of Mr. Poorvank	Appointment of Mr. Sandeep Rao
No.		Purohit
1.	Reason for Change	Resignation of Mr. Poorvank	Appointment of Mr. Sandeep Rao, as
		Purohit (DIN: 10158900) as the	an Additional Director – Managing
		Chief Executive Officer &	Director and Chief Executive Officer
		Managing Director of the Company.	of the Company, subject to the
			approval of shareholders at the
			ensuing General Meeting / Postal
			Ballot pursuant to the resignation of
			the current MD & CEO
2.	Date of	Close of business hours on February	Close of business hours on February
	appointment/cessati	21, 2025	21, 2025 for a period of three (3) years
	on (as applicable) &
	term of
	appointment
3.	Brief Profile	Not Applicable	Enclosed herewith
4.	Disclosure of	Not applicable	Not applicable
	relationships
	between directors

For Solara Active Pharma Sciences Limited

SUDDAPALLI MURALIKRISHNA Digitally signed by SUDDAPALLI MURALIKRISHNA Date: 2025.02.21 17:10:43 +05'30'

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Annexure – I (A) (Contd.)

Details under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 read along with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 read with Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/ 2023/123 dated July 13, 2023

Sr.	Particulars	Resignation of Mr.	Appointment of Mr.	Appointment of Mr.
No.		Arun Kumar	Sarat Kumar	Vishal Mathur
		Baskaran
1.	Reason for Change	Resignation of Mr.	Appointment of Mr.	Appointment of Mr.
		Arun Kumar Baskaran	Sarat Kumar, as the	Vishal Mathur, as the
		as the Chief Financial	Chief Financial	Chief Business
		Officer & KMP of the	Officer and the Key	Officer (CBO) in the
		Company.	Managerial Personnel	capacity of Senior
			of the Company	Managerial
			pursuant to the	Personnel of the
			resignation of the	Company.
			current CFO.
2.	Date of	Close of business hours	Close of business	Close of business
	appointment/cessation	on February 21, 2025	hours on February 21,	hours on February 21,
	(as applicable) & term		2025	2025
	of appointment
3.	Brief Profile	Not Applicable	Enclosed herewith	Enclosed herewith
4.	Disclosure of	Not applicable	Not applicable	Not applicable
	relationships between
	directors

For Solara Active Pharma Sciences Limited

SUDDAPALLI MURALIKRISHNA

Digitally signed by SUDDAPALLI MURALIKRISHNA Date: 2025.02.21 17:11:09 +05'30'

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Sl. No.	Name	Profile
1	Mr. Sandeep	Mr. Sandeep Rao holds a Masters degree in Business Administration from the
	Rao –	Indian Institute of Management at Lucknow and Masters degree in Chemistry
	Managing	from the Indian Institute of Technology @ Mumbai.
	Director and	Mr. Sandeep has a rich career experience of 25+ years characterized by
	Chief	strategic growth - oriented thinking, focus on finding value creating
	Executive	opportunities, managing talented and high-performance teams, relentless
	Officer (MD	execution and partnership management.
	& CEO)	In his recent role as CEO of Tenshi Pharma since July 2024, Mr. Sandeep
		drives the governance of business operations across the API platform and other
		pharma assets within the Family office.
		Prior to this, Mr. Sandeep was Vice President and Head of Business
		Development for Emerging Markets with Viatris. In this role, he was
		responsible for leading Business Development activities in Latin America,
		Africa, India, Southeast Asia, Middle East, South Korea, Russia, CIS and
		Turkey for a business estimated at USD 3 bn. Over the 9-year tenure at Viatris (formerly "Mylan"), he was responsible for product licensing and distribution
		transactions, product and facility acquisitions and divestitures in the above
		markets.
		Prior to Viatris, he was with the Biocon group for 16 years, the last position
		held being Senior Vice President and Head of the Insulins business. In this role,
		he was responsible for the commercial P&L, Manufacturing operations in
		Malaysia and India, Device development activities and Global Product
		Development efforts. During this tenure, he has also led Global API exports
		business and led the Global Business Development and alliance management
		teams.
2	Mr. Sarat	Mr. Sarat Kumar holds a Sloan Fellowship in Leadership & Strategy from the
	Kumar –	London Business School, London, UK and Post Graduate Diploma in Business
	Chief	Administration from Institute of Management Technology, Ghaziabad, India
	Financial	and is a Member of the Institute of Cost Accountants of India.
	Officer (CFO)	Mr. Sarat has more than 18+ years of experience in leading Finance function
		for different Business Units/ Geographies across diverse sectors –
		Pharmaceuticals (Strides Pharma Science Limited), Biologics CDMO
		(BioCina), Power (Torrent Power), Oil & Gas (Shell Plc.) and has considerable
		experience in P&L performance tracking, Strategy formulation &
		implementation, and change management projects. In his past roles, Sarat has
		also led Global cross functional teams and delivered bottom line impacts
		through cost leadership and optimization projects.
		He has taken up additional cross-functional responsibilities in the Organization along with his Finance partnering role in the functions of Sales and Operations
		Planning, Manufacturing Planning, and Supply Chain management.
		In his recent role as CFO of Tenshi Pharma since June 2024, Mr. Sarat supports
		the Finance and Operations across the API platform and other pharma assets
		within the Family office. Prior to joining Tenshi Pharma, Mr. Sarat was leading

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

		the Finance and Strategy function as a CFO of Adelaide-based PE backed
		Biologics CDMO company – BioCina.
3	Mr. Vishal	Mr. Vishal Mathur holds a Master of Business Administration from Chetana
	Mathur –	Institute of Management. Mr. Vishal has around 25 years of experience and
	Chief	has expertise in API business expansion along with profitability improvement.
	Business	In his recent role as Chief Commercial Officer and MC Member with Cohance
	Officer (CBO)	Lifesciences between 2023 – 2024, Mr. Vishal had P&L ownership of \$160M
		business and delivered 14% growth across APIs, Intermediates and PFIs.
		Prior to this, Mr. Vishal was Executive VP and Chief Marketing Officer with
		the API division of Emcure during 2021 - 2023. In this role, he doubled the
		revenue of the API business, leading API sales, marketing, portfolio
		development and established the API Plus vertical with INR 700M revenue
		with 70%+ Gross margins.
		Prior to Emcure, he was with the Glenmark Lifesciences for 16 years, the last
		position held being VP – Sales & Marketing. In this role, he delivered \$160M
		revenue through API and co-marketing initiatives and led quick turnaround of
		Favipiravir commercialization, a key molecule of COVID-19 treatment.

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Annexure – I (B)

Details under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 read along with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 read with Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/ 2023/123 dated July 13, 2023

Sr.	Particulars	Remarks
No. 1.	The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during	Solara Active Pharma Sciences LTDA, Brazil Turnover for FY ended March 31, 2024 – NIL Net worth for FY ended March 31, 2024 – Nil
2	the last financial year; Date on which the agreement for sale has been entered into;	Not Applicable - this was a voluntary closure of the entity
3	The expected date of completion of sale/disposal;	Not applicable. The entity is proposed to be closed as per the statutory requirement of Brazil.
4	Consideration received from such sale/disposal;	Not Applicable
5	Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof;	Not Applicable
6	Whether the transaction would fall within related party transactions? If yes, whether the same is done at "arm's length"	Not Applicable
7	Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale.	Not Applicable

Proposal to close the WoS – "Solara Active Pharma Sciences LTDA, Brazil"

For Solara Active Pharma Sciences Limited

SUDDAPALLI MURALIKRISHNA

Digitally signed by SUDDAPALLI MURALIKRISHNA Date: 2025.02.21 17:11:39 +05'30'

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Annexure – I (C)

Details under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 read along with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 read with Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/ 2023/123 dated July 13, 2023

Sr. No	Particulars	Remarks
1	Brief details of options granted	3,50,000 (Three Lakhs Fifty Thousand Only) Options
		granted under Solara ESOP 2024 out of the total pool
		of 9,60,000 (Nine Lakhs Sixty Thousand Only) Options.
2	Whether the scheme is in	Yes
	terms of SEBI (SBEB)
	Regulations, 2021 (if
	applicable)
3	Total number of shares	3,50,000 (Three Lakhs Fifty Thousand Only) Equity
	covered by these options	Shares of face value of 10/- each to be issued against
		3,50,000 (Three Lakhs Fifty Thousand Only) Options
		under Solara ESOP 2024 upon exercise
4	Pricing formula	As decided by the Nomination and Remuneration
		Committee
5	Options vested	Nil
6	Time within which option may	120 days from the date of Vesting of the Options,
	be exercised	subject to the other terms and conditions as stated in the ESOP Plan
7	Options exercised	To be determined post the exercise period is over
8	Money realized by exercise of options	To be determined post the exercise period is over
9	The total number of shares	To be determined post the exercise period is over
	arising as a result of exercise
	of option
10	Options lapsed	To be determined post the exercise period is over
11	Variation of terms of options	Not Applicable
12	Brief details of significant terms	As per Solara ESOP 2024
13	Subsequent changes or	To be determined post the exercise period is over
	cancellation or exercise of
	such options
14	Diluted earnings per share	To be determined post the exercise period is over
	pursuant to issue of equity
	shares on exercise of options.

Grant of Options to Eligible Employees

February 21,2025

The Board of Directors

Solara Active Pharma Sciences Limited, 201, Devavrata, Sector 17, Vashi, Thane, Navi Mumbai, Maharashtra - 400 703

Dear Sir/Madam,

Subject: Resignation as the Managing Director & Chief Executive Officer of the Company - Solara Active Pharma Sciences Limited

This is to inform the Board that I hereby tender my resignation as the Managing Director and Chief Executive Officer of the Company, owing to my personal reasons with effect from February 21, 2025. Consequently, I will also be stepping down from the Board and Committees I was associated with.

I hereby confirm that there are no other material reasons other than those provided here.

I take this opportunity to thank the Board members for the support and trust extended to me during my tenure as the Managing Director & Chief Executive Officer of the Company. It was a pleasure to have been associated with Company and my colleagues on the Board.

I wish the Company success in all its endeavours and I am confident that Solara Active Pharma Sciences Limited will continue to thrive and reach new heights and success.

Thank you once again for the opportunity to contribute to the Company's growth and development.

With best Best Regards,

Poorvanh PuroLit

Poorvank Purohit DIN: 10158900

February 21,2025

The Board of Directors Solara Active Pharma Sciences Limited, 201, Devavrata, Sector 17, Vashi, Thane, Navi Mumbai, Maharashtra - 400 703

Dear Sir/Madam,

Subject: Resignation as Chief Financial Officer and Key Managerial Personnel of Solara Active Pharma Sciences Limited

This is to inform that I hereby tender my resignation from the position of Chief Financial Officer and Key Managerial Personnel of the Company with effect from February 21, 2025, due to personal reasons.

I take this opportunity to convey my sincere thanks to the leadership team, the Board Members for their support, trust and assistance extended to me during my association with the Company.

I look forward to seeing the ongoing growth and success of the Company.

Thanking you, Yours' faithfully

$3.28$

Arun Kumar Baskaran Chief Financial Officer Solara Active Pharma Sciences Limited

Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Annexure – III

Re - constitution of the Following Committees:

Risk Management Committee:

Name of Committee members	Category of Directors
Mr. Rajiv Vijay Nabar	Independent Director -
	Chairperson
Dr. Kausalya Santhanam	Independent Director - Member
Mr. R Ramakrishnan	Independent Director - Member
Mr. Rajendra Kumar Srivastava	Independent Director - Member
Mr. Sandeep Rao	Executive Director - Member

Stakeholder Relationship Committee:

Name of Committee members	Category of Directors
Dr. Kausalya Santhanam	Independent Director -
	Chairperson
Mr. Kartheek Raju	Non - Executive Director -
	Member
Mr. Sandeep Rao	Executive Director - Member

Corporate Social Responsibility Committee:

Name of Committee members	Category of Directors
Dr. Kausalya Santhanam	Independent Director -
	Chairperson
Mr. R Ramakrishnan	Independent Director - Member
Mr. Sandeep Rao	Executive Director - Member

For Solara Active Pharma Sciences Limited

SUDDAPALLI MURALIKRISHNA Digitally signed by SUDDAPALLI MURALIKRISHNA Date: 2025.02.21 17:12:14 +05'30'