Tech Mahindra — Capital/Financing Update 2022

Oct 21, 2022

21st October, 2022

Tech Mahindra Limited

Sharda Centre, Off Karve Road Pune 411004, Maharashtra, India

Tel: +91 20 6601 8100 Fax: +91 20 2542 4466

techmahindra.com connect@techmahindra.com

Registered Office: Gateway Building, Apollo Bunder Mumbai 400 001, India

CIN: L64200MH1986PLC041370

To BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI – 400 001 Scrip Code : 532755

National Stock Exchange of India Limited Exchange Plaza, 5th floor, Plot No. – C/1, G Block, Bandra-Kurla Complex, Bandra (E) MUMBAI – 400 051 NSE Symbol : TECHM

Sub: Approval of proposal for acquisition of 26% stake in Upendra Singh Multi Transmission Private Limited

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Company has entered into share subscription agreement to acquire 26% equity shares in Upendra Singh Multi Transmission Private Limited.

Tech Mahindra is signatory to Business Ambition for 1.5°C that commits to contain the rise in global in temperature by 1.5°C. Tech Mahindra has adopted a climate action plan that provides a roadmap for the organization to become Net Zero before 2040. While we have installed rooftop Solar plants at all our owned campuses, we also plan to procure Renewable Energy (RE) through captive projects at all our owned campuses. Captive or Group captive projects are projects set up by a developer with a minimum equity contribution of 26% from interested consumers (viz. Tech Mahindra) and the RE generated from such projects is consumed by Tech Mahindra as per government norms.

In this regard, please find enclosed herewith, Disclosure containing the details pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 as Annexure I.

This is for your information and record.

Please acknowledge receipt of the same.

Thanking you,

For Tech Mahindra Limited Digitally signed by

Anil Mohanlal Khatri Anil Mohanlal Khatri Date: 2022.10.21 23:06:02 +05'30'

Anil Khatri Company Secretary

Encl.: As stated above

Annexure I

Sr.	Items for Disclosure	Description
No.1	Name of the target entity, details in briefsuch as size, turnover etc.;	UpendraSinghMultiTransmissionPrivateincorporated on 23rd June,Limited was2020 asa non-govtcompany. The paid-upcapital of thecompany is Rs. 500,000.
2	Whethertheacquisitionwouldfallwithin related party transaction(s) andwhether the promoter/ promoter group/group companies have any interest inthe entity being acquired? If yes, natureofinterestanddetailsthereofandwhether the same is done at "arm'slength";	The transaction does not fall within the ambit ofRelated Party Transaction.
3	Industry to which the entity beingacquired belongs.	Renewable Energy Generation.
4	Objectsandeffectsofacquisition(including but not limited to, disclosureof reasons for acquisition of targetentity, if its business is outside the mainline of business of the listed entity)	The acquisition would enable the Company toprocure 1.5 MW of Solar Energy for its captiveconsumption at its facilities located in Noida,UP.
5	Brief details of any governmental orregulatory approvals required for theacquisition;	N.A.
6	Indicative time period for completion ofthe acquisition;	4 Months from Issuance of the Offer Letter.
7	Nature of consideration -whether cashconsideration or share swap and detailsof the same;	Cash
8	Cost of acquisition or the price at whichthe shares are acquired;	The total consideration would be Rs. 48 lakhs.
9	Percentage of shareholding / controlacquired and / or number of sharesacquired;	Tech Mahindra will acquire a total of 26% of theShare capital of the company.
10	Briefbackgroundabouttheentityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, countryinwhichtheacquiredentityhaspresenceandanyothersignificantinformation (in brief);	The company is newly incorporated Indiancompany,engagedintorenewalenergygeneration.The Company is incorporated on23rd June, 2020.

For Tech Mahindra Limited

Anil Mohanlal Khatri Digitally signed by Anil Mohanlal Khatri Date: 2022.10.21 23:06:46 +05'30'

Anil Khatri Company Secretary