Piramal Finance ESOP Trust Trustee Change

Piramal Finance Limited

Key Changes to Trustee Composition

• Resignation: Shri Arvind Agarwal has stepped down as a Trustee of the PFL Employee ESOP Trust with effect from 19th October 2026.
• Appointment: Shri Kuttikrishnan Krishna Pisharody is appointed as a Trustee with effect from 19th October 2026.
• Current Trustees: Effective 19th October 2026, the Trustees of the Trust are Shri Suresh Tapuriah and Shri Kuttikrishnan Krishna Pisharody.

Background and Context

The Trust was originally constituted by an Indenture dated 19th November, 2009, under the name "Piramal Life Sciences Limited Senior Employees Option Trust."

• The Trust's name was subsequently changed to "Piramal Phytocare Limited Senior Employees Option Trust" and later to "PFL Employee ESOP Trust."
• The Trust was reconstituted under Piramal Finance Limited (PFL) pursuant to a composite Scheme of Arrangement approved by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT order was dated 10 September 2025 and made effective on 16 September 2025.
• The current governing document is the Amended and Restated Trust Deed dated 30th December 2025.

Financial and Operational Impact

The disclosure does not quantify any financial impact. The amendment is administrative, relating solely to a change in the composition of the Trust's trustees. All other terms of the Amended and Restated Trust Deed remain unchanged and in full force.