Blue Star Oman Arbitration Award Appealed in Dubai

Date: September 15, 2026

Other Operational / Legal / Strategic Disclosures

This disclosure provides an update on international arbitration proceedings between Blue Star Limited and W.J. Towell & Co LLC ('WJT'), an entity based in Oman.

Background:

• The dispute relates to a Shareholders' Agreement dated October 1, 2015, for managing the affairs of Blue Star Oman Electro Mechanical Company.
• The arbitration was filed with the International Chamber of Commerce (ICC).
• The initial claim filed on April 3, 2024, was for OMR 103,18,000 (approximately ₹223.60 crores) plus 7% interest on the total claim amount.
• On October 2, 2024, WJT revised its claim to OMR 2,11,80,748 (approximately ₹461.74 crores) plus 7% interest.
• Blue Star consistently maintained that all claims by WJT were "frivolous, unsubstantiated, premised on fundamental factual misstatements and contrary to the overwhelming facts and evidence."

Recent Development (July 23, 2026 Award):

• The Arbitrator issued an Award in favor of Blue Star Limited, dismissing all claims made by WJT.
• Accordingly, the entire claim of OMR 2,11,80,748 against the Company was dismissed.
• The Arbitrator reserved the Award on interest and costs, which will be dealt with in a further Award.
• The Company assessed that the outcome would have no material financial impact.

Current Status (September 15, 2026 Update):

• WJT has approached the Dubai Court of Appeal seeking annulment of the favorable Award.
• The Company notes that annulment proceedings "do not constitute an appeal or reconsideration of the merits of the Award and are confined to limited grounds."
• Blue Star will make appropriate submissions before the Dubai Court of Appeal and believes "the grounds of annulment raised by WJT are baseless."
• The Company explicitly states this appeal "does not constitute a material update" and is for record-keeping purposes under SEBI Listing Regulations.
• The information about the appeal was received on September 14, 2026, at 5:30 PM.

Regulatory Context:

• This is a series of disclosures made under Regulation 30 of the SEBI LODR Regulations, 2015.
• Specific reference is made to Para B of Part A of Schedule III of the Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
• All information is being placed on the company website at www.bluestarindia.com.

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results (Standalone & Consolidated)

Not Specified

Auditor’s Report

Not Specified

Disinvestment / Strategic Actions

Not Specified