Change in Statutory Auditors – Northern Arc Capital Limited

Outgoing Auditor

Name of the Resigning Firm: Not applicable. This is an appointment of a joint auditor; no resignation occurred.

Reason for Resignation: Not applicable. The existing statutory auditor, M/s. Walker Chandiok & Co LLP (ICAI Firm Registration No. 001076N/N500013), will continue to hold office until the conclusion of the 19th Annual General Meeting of the Company.

Replacement Appointed

Name of the New Audit Firm: M/s. R. Subramaniyan and Company LLP

Firm Registration Number (FRN): 004137S / S200041

Term of Appointment and Validity: The appointment is for a period of three consecutive years, from the conclusion of the ensuing 18th Annual General Meeting until the conclusion of the 21st Annual General Meeting of the Company.

Interim Appointment or Subject to Shareholder Approval: The appointment is subject to the approval of the members at the ensuing Annual General Meeting.

Reason for Change: The appointment is mandated by the Reserve Bank of India (RBI) Guidelines for Appointment of Statutory Central Auditors (SCAs) / Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), Urban Co-operative Banks and Non-Banking Financial Companies (including Housing Finance Companies) dated April 27, 2021. As the company's audited financial statements as of March 31, 2026, reflect an asset size exceeding ₹15,000 crore, it is required to appoint joint statutory auditors.

Board / Committee Meeting Details

Date and Name of the Meeting: A meeting of the Board of Directors was held on Friday, July 10, 2026.

Resolutions or Approvals: Based on the recommendations of the Audit Committee, the Board of Directors approved:

1. The appointment of M/s. R. Subramaniyan and Company LLP as Joint Statutory Auditors.

2. The allotment of 39,000 equity shares under the Northern Arc Employee Stock Option Plan, 2016.

The meeting commenced at 05:45 P.M. and concluded at 07:15 P.M.

Annexures / Firm Profiles

Summary of Incoming Audit Firm’s Experience: M/s. R. Subramaniyan and Company LLP is a firm of Chartered Accountants. It was founded by Mr. R Subramanian in 1974 and operates from its registered office in Chennai with a presence in Bangalore and Delhi. It has associations with established CA firms in Mumbai and Hyderabad.

Any Declarations or Eligibility Confirmations: The details are provided as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Other Corporate Information

ESOP Allotment: The Board of Directors approved the allotment of 39,000 equity shares of face value of Rs. 10/- each to an option grantee who exercised options under the ESOP Plan.

The allotted shares are fully paid up and rank pari-passu with existing equity shares. An application for listing and trading approval will be submitted to BSE Limited and the National Stock Exchange of India Limited.

This allotment increases the company's paid-up equity share capital from Rs. 1,61,61,23,750 (16,16,12,375 shares) to Rs. 1,61,65,13,750 (16,16,51,375 shares).

Regulatory Compliance Statement: This disclosure is made pursuant to Regulation 30 and 51 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation is also being uploaded on the company's website at www.northernarc.com.