Aavas Board Resignations and Appointments

Mrs. Soumya Rajan (DIN: 03579199) resigned as Non-Executive Independent Director effective close of business hours on October 26, 2026.
Reason for resignation: Increasing professional commitments to her company, Waterfield Advisors.
Mrs. Rajan confirmed there are no other material reasons for resignation beyond those stated in her resignation letter.
The resignation letter (Annexure 3) cited that Aavas is at an "inflexion point" with successful promoter and senior leadership transition over past two years, and a new director would bring fresh perspectives.
Mrs. Rajan ceased to be Member and Chairperson of all Board Committees she served on.
She currently holds directorship at Vishal Mega Mart Limited as Independent Director, serving as Chairperson of Audit Committee and Nomination & Remuneration Committee, and Member of Risk Management Committee and Corporate Social Responsibility & Sustainability Committee.

Ms. Anjali Karamnarayan Seth (DIN: 05234352) appointed as Additional Director in capacity of Non-Executive Independent Director.
Appointment effective from October 27, 2026 for term of five consecutive years up to October 26, 2031.
Not liable to retire by rotation, subject to approval of shareholders.
Background: Lawyer with over 40 years experience advising top banks, financial institutions and large corporates on M&As, PE investments, corporate governance, and real estate negotiations.
Previously worked with International Finance Corporation, Standard Chartered Bank, Swaadhar Finserve, Emmar Properties (UAE), and ANZ Grindlays Bank.
Currently serves as Independent Director on boards of Kalpataru Limited, Centrum Capital Limited, Nirlon Limited, and Assets Care & Reconstruction Enterprise LTD.
Not related to any current director of Aavas Financiers Limited.
Not debarred from holding director office by SEBI or any other authority.

Mr. Ramachandran Venkatesh resigned as Head of Internal Audit (Senior Managerial Personnel) effective closure of business hours on October 26, 2026.
Reason for resignation: Personal commitments, medical issues, and other imminent exigencies in family.
Resignation letter (Annexure 4 dated August 17, 2026) cited recent bereavements and need to focus on personal life.

Mr. Bharat Chamanlal Thakkar appointed as Head of Internal Audit, designated as Senior Managerial Personnel.
Appointment effective from October 27, 2026 for term of three years.
Background: Chartered Accountant and Certified Information Systems Auditor (CISA) with over 34 years experience in banking, financial services, risk management, governance, compliance, finance, and audit.
Previously held key leadership roles at Kotak Mahindra Group including Chief Financial Officer, Chief Compliance Officer, Head - Operational Risk, and Head/Co-head of Internal Audit.
Expertise in internal audit, corporate governance, financial reporting, regulatory compliance, operational risk management, and control frameworks.

Board approved Postal Ballot Notice to seek shareholder approval for appointment of Ms. Anjali Karamnarayan Seth as Independent Director.

Board meeting commenced at 04:25 PM (IST) and concluded at 05:41 PM (IST) on October 26, 2026.
Composition of Board of Directors and Committees confirmed to be in compliance with Companies Act, 2013 and SEBI LODR Regulations.

No direct financial impact quantified in the disclosure. The changes represent governance and management structure updates.