Solex Subsidiary Approves ₹150 Crore CCD Issuance

Date: October 19, 2026

The Board of Directors of Solex New Energy Private Limited (wholly owned subsidiary) met on October 19, 2026
Approved issuance of Compulsorily Convertible Debentures (CCDs) aggregating to ₹150 Crores
CCDs to be issued in one or more tranches
CCDs include option to convert into Equity Shares of Solex Energy Limited (Swap Shares)
Subject to terms and conditions specified in the agreement
Subject to completion of applicable statutory and regulatory formalities

Investor shall have option to convert CCDs into Equity Shares of Solex Energy Limited (Holding Company)
Conversion subject to requisite approval of the Board of Directors of the Holding Company
Conversion subject to compliance with applicable laws, rules and regulations