Outcome of Board Meeting

Ref. No: PEL 49/2026-27 Date: September 01, 2026 To To The Secretary The Manager, BSE Limited Listing Department Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited Dalal Street, Exchange Plaza, C-1, G Block, Bandra-Kurla Mumbai – 400001 Complex, Bandra (East), Mumbai – 400 051 Scrip Code: 544238 Trading Symbol: PREMIERENE Dear Sir/Madam, Sub: - Outcome of the Board Meeting Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we inform that the Board of Directors of the Company, at its meeting held today i.e. September 01, 2026, has inter alia, approved: 1. Incorporation of a wholly-owned subsidiary in Singapore under the name ‘PE Horizon Pte. Ltd.’, or such other name as may be approved by the competent authority in Singapore, for the purpose of carrying on the business of, inter alia, trading, management consulting and ancillary activities in the clean energy industry, including related capital goods. The Board has also approved an Overseas Direct Investment up to SGD 1,00,000 (Singapore Dollars One Lakh only), in one or more tranches, with an initial investment of SGD 10,000 (Singapore Dollars Ten Thousand only), comprising 10,000 Ordinary Shares of SGD 1 each and representing 100% of the share capital of the proposed wholly-owned subsidiary, in accordance with the applicable laws. Additional information as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with the SEBI Master Circular No. HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated January 30, 2026, will be disclosed in due course. 2. Intra-group shareholding reorganization, pursuant to which the Company’s entire shareholding in its wholly owned subsidiary, Premier Energies Storage Solutions Private Limited (PESSPL), shall be transferred to Premier Battery Technologies Private Limited (PBTPL), another wholly owned subsidiary of the Company, by way of a share swap, for consideration payable entirely through the issue of equity shares by PBTPL to the Company. Pursuant to the above transaction, PESSPL shall become a wholly owned subsidiary of PBTPL and a step- down subsidiary of the Company. There will be no change in the Company’s ultimate beneficial ownership or control over PESSPL and PBTPL. The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with the SEBI Master Circular No. HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated January 30, 2026, are enclosed as Annexure A. This is for your information and records. The meeting commenced at 04:52 P.M. and concluded at 05:16 P.M. Thanking you, Yours truly, For Premier Energies Limited Hitesh Kumar Jain Company Secretary & Compliance Officer Annexure A Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with the SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 Particulars Details a) Name of the target entity, details in brief such Premier Battery Technologies Private Limited as size, turnover etc. (“PBTPL”) was incorporated on July 15, 2026 and is a wholly owned subsidiary of the Company. PBTPL is yet to commence commercial operations and has no turnover as of the date of this disclosure; its paid-up equity share capital as of the date of this disclosure comprised solely the share capital subscribed by the Company. b) Whether the acquisition would fall within Yes, PBTPL is a wholly owned subsidiary of the related party transaction(s) and whether the Company and is therefore a related party of the promoter/promoter group/group companies Company under Regulation 2(1)(zb) of the SEBI have any interest in the entity being acquired; if LODR Regulations. yes, nature of interest and details thereof, and whether the same is done at “arm's length” No promoter/promoter group/group companies, other than the Company itself (which already holds 100% shares of PBTPL), has any interest in PBTPL. The transaction has been approved by the Audit Committee of the Company as a Related Party Transaction under Regulation 23 of the SEBI LODR Regulations, on the basis of the fair value of the equity shares of PBTPL and PESSPL, as independently determined by a Registered Valuer, and is on an arm's length basis. c) Industry to which the entity being acquired Battery and Battery Energy Storage Systems Sector. belongs d) Objects and impact of acquisition (including The proposed transaction is an intra-group but not limited to, disclosure of reasons for shareholding reorganization undertaken to acquisition of target entity, if its business is consolidate the Company's battery and energy outside the main line of business of the listed storage-related businesses under a single sub- entity) holding structure (PBTPL) and to simplify the Company's corporate holding structure. As consideration for transferring its entire shareholding in PESSPL to PBTPL, the Company will be allotted further equity shares of PBTPL, which will thereby become the intermediate holding company of PESSPL. PBTPL's business (battery and energy storage) is aligned with the Company's diversification into battery and energy storage solutions and is not outside the Company's line of business. The Company will continue to hold 100% of PBTPL before and after the proposed transaction, with no change in its ultimate beneficial ownership or economic interest. e) Brief details of any governmental or Not applicable regulatory approvals required for the acquisition f) Indicative time period for completion of the Approximately 60 days from the date of this acquisition disclosure. g) Consideration – whether cash consideration The consideration is entirely non-cash and shall be or share swap or any other form and details of discharged by way of a share swap. the same h) Cost of acquisition and/or the price at which The aggregate cost of acquisition of the 8,50,579 the shares are acquired Equity Shares of Face Value of ₹ 10/- each works out to ₹ 85,05,790 (Rupees Eighty-Five Lakh Five Thousand Seven Hundred and Ninety only), discharged entirely in kind by the Company through transfer of its shareholding in PESSPL (of equivalent fair value, being the Net Asset Value of PESSPL as at August 31, 2026) – no cash was paid by the Company. i) Percentage of shareholding/control acquired The Company will be allotted 8,50,579 equity shares and/or number of shares acquired of PBTPL of ₹10 each. The Company holds 100% of PBTPL's paid-up equity share capital prior to the proposed transaction and will continue to hold 100% of PBTPL's (enlarged) paid-up equity share capital upon completion – there is no change in the percentage shareholding or control of the Company in PBTPL, which remains a wholly owned subsidiary throughout. j) Brief background about the entity acquired in PBTPL was incorporated on July 15, 2026 with the terms of products/line of business acquired, object of carrying on business activities into the date of incorporation, history of last 3 years Battery Energy Storage System, Battery Cell, Battery turnover, country in which the acquired entity Material, and related electronics, hardware, and has presence and any other significant software business segments. information (in brief) PBTPL is yet to commence commercial operations and has no turnover as of the date of this disclosure. PBTPL presently has its operations and presence in India.