SOLARA ACTIVE PHARMA SCIENCES LIMITED — Capital/Financing Update 2024

Jul 22, 2024

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

July 22, 2024

The BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra-Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 541540 Scrip Code: SOLARA Dear Sir / Madam,

Subject: Outcome of the Board Meeting dated July 22, 2024

Pursuant to Regulation 30 (read with Part A of Schedule III) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Nomination & Remuneration Committee and the Board of Directors of the Company at its meeting held today, inter-alia, has approved the Introduction of new Employee Stock Option Plan Scheme titled ‘‘ SOLARA EMPLOYEE STOCK OPTION PLAN 2024 ”, to create and grant stock options not exceeding 9,60,000 (Nine lakh Sixty Thousand only) stock options, each convertible into one (1) equity share of the Company having face value of Rs. 10/- (Rupee Ten only) per equity share, in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting of the Company.

Please find enclosed herewith the information in terms of SEBI Master Circular bearing Ref. No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July 2023 and SEBI Circular bearing Ref. No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 .

This is for your information and records.

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

SUDDAPALLI Digitally signed by SUDDAPALLI MURALIKRISHNA MURALIKRISHNA Date: 2024.07.22 13:49:58 +05'30'

S. Murali Krishna Company Secretary

Encl.: As above

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

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

S. No.	Particulars	Description
1.	Brief details of options granted	GrantofOptionsnot exceeding9,60,000(Nine Lakh Sixty Thousand) to theeligible Employeesof the Company.
2.	Whether the scheme is in terms of SEBI (SBEB) Regulations, 2021 (if applicable)	The ‘‘SOLARA EMPLOYEE STOCK OPTION PLAN 2024”,shallbe incompliancewith SEBI (Share BasedEmployeeBenefitsand Sweat Equity) Regulations, 2021.
3.	Total number of shares covered by theseoptions	9,60,000 (Nine Lakh Sixty Thousand)Options exercisable into9,60,000(Nine Lakh Sixty Thousand) equitysharesof face value Re.10/-each.
4.	PricingFormula	Exercise Price perOptionshallbe determined by the Nomination and Remuneration Committee as onGrant Date.
5.	OptionsVested	Notapplicableat this stage
6.	Time withinwhich optionmaybe exercised	Period of 3years fromthe date of vesting or such lesser period as may be decided bytheNomination and Remuneration Committee atitssole discretion from time to time andmentionedin theGrantLetterof the Grantee.
7.	Optionsexercised	Notapplicableat this stage
8.	Moneyrealized by exercise of options
9.	Total number of sharesarising as a result of exercise of option
10.	OptionsLapsed
11.	Variationof terms of options
12.	Brief details of significant terms	Eligibilityforparticipationin the Scheme: Following classesofemployeesareentitled to participate in the Scheme: (i) anemployeeas designated by the Company, who is exclusivelyworking in IndiaoroutsideIndia;or (ii) aDirectorof theCompany,whether a whole-time Director ornot,includinga Non-Executive Directorwho is not apromoterormember of the promoter grouporChairperson of the Company, butexcludingan independentdirector;

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

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

		TheEmployeesto whom the StockOptions wouldbe granted andtheir eligibilitycriteria(includingbut not limitedto performance, merit, grade, conduct and length of service of theEmployee)would be determined by the Nomination and Remuneration Committee, in its absolutediscretion from time totime. Requirementsofvesting and periodof vesting: The StockOptionsgranted to anyEmployee shallvest within theVestingPeriod in the mannerassetforth in the GrantLetter subject tomaximumperiod of 3years from the date of grant. Thereshallbe a minimum period of oneyearbetween theGrantof StockOptions andVestingof StockOptions. Mode of Implementation: The Scheme is proposed to be implemented directly by the Company through the Board / Nomination and Remuneration Committee. Detailed terms will be disclosed as Explanatory Statement forming part of the Notice for seeking Shareholder’s Approval.
13.	Subsequent changes or cancellation or exercise ofsuch options	Notapplicableat this stage
14.	Diluted earnings per share pursuant to issue of equity shares on exerciseof options

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