REC-PFC Merger Receives RBI No Objection Certificate

Date: October 15, 2026

Board Meeting Outcomes

• The Company has received No Objection Certificate from Reserve Bank of India on October 15, 2026 for the proposed merger scheme
• The NOC is subject to instructions/conditions specified by RBI
• The Scheme involves merger of REC Limited (Transferor Company) with and into Power Finance Corporation Limited (Transferee Company)

Other Operational / Legal / Strategic Disclosures

• The merger scheme is being undertaken under sections 230-232 and other applicable provisions of the Companies Act, 2013
• The Scheme remains subject to other statutory and regulatory approvals
• The Scheme requires approval of respective shareholders and creditors of both companies involved
• This disclosure is made under Regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• The respective Boards of Directors of both companies had approved the Scheme on June 28, 2026, subject to receipt of applicable regulatory approvals