Updater Services Appoints Jigyasa Sharma CEO-Designate

Date: October 30, 2026

Appointment Details:

Name: Mrs. Jigyasa Sharma (DIN: 10474292)
Current Position: Whole-time Director of Updater Services Limited
New Designation: Chief Executive Officer-Designate of Matrix Business Services India Private Limited
Effective Dates: CEO-Designate from December 1, 2026 to March 31, 2027; CEO from April 1, 2027
Approval: Board of Matrix Business Services India Private Limited approved on October 23, 2026; Board of Updater Services Limited approved on October 30, 2026

Succession Context:

Planned succession as Mr. Ravi Shankar is due to retire
Mr. Ravi Shankar will continue as CEO of Matrix till March 31, 2027
Post-transition, Mr. Shankar will continue associated with the Company in a new capacity

Professional Profile:

Current Role: Executive Director at UDS Group, leading group-level initiatives across strategy, technology and people
Previous Experience: Smart Communities Program Manager at US Ignite, working with NSF, Purdue Research Foundation, and Toyota Mobility Foundation
Background: Worked with governments and non-profits across India, U.S., Singapore, China, and Indonesia
Research and advisory roles at Lee Kuan Yew School of Public Policy
Education: Economics from University of Delhi, Applied Economics from NUS, Public Policy from UC Berkeley

Regulatory Compliance:

Disclosure made under Regulation 30(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Reference: SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Relationships between directors: Not applicable

Dividend Declaration or Non-Declaration: Not Specified

Board Meeting Outcomes: Not Specified (only appointment approval mentioned)

Financial Results: Not Specified

Auditor's Report: Not Specified

Disinvestment / Strategic Actions: Not Specified

Media Release / Investor Communication: Not Specified

Other Operational / Legal / Strategic Disclosures: Not Specified