General Updates

NWML/SEC/2027/46 September 1, 2026 The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Tower, Exchange Plaza, 5th Floor, Plot C/1, G Block, Dalal Street, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 001. Mumbai - 400 051. BSE Scrip Code: 543988 NSE Symbol: NUVAMA Subject: Grant of Employee Stock Appreciation Rights under the ‘Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026’ Dear Sir(s) / Madam(s), Pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we would like to inform you that the Nomination and Remuneration Committee (“NRC”) of the Company at its meeting held on September 1, 2026, approved the grant of 79,38,556 Employee Stock Appreciation Rights (ESARs) to the eligible employee(s) under the ‘Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026’ (“the Plan”). The details as required under the Listing Regulations read with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, with respect to above grant is given in Annexure A. Kindly take the same on record. Thanking you, Yours faithfully, For Nuvama Wealth Management Limited Sneha Patwardhan Company Secretary and Compliance Officer Encl: as above Nuvama Wealth Management Limited Corporate Identity Number: L67110MH1993PLC344634 Registered Office: 801- 804, Wing A, Building No. 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051 • Tel No. +91 22 6620 3030 • secretarial@nuvama.com • nuvama.com Annexure A Sr. Particulars Details 79,38,556 Employee Stock Appreciation Rights 1. Brief details of ESARs granted (ESARs) granted to the eligible employee(s). Whether the scheme is in terms of SEBI (Share Based Employee 2. Yes Benefits and Sweat Equity) Regulations, 2021, if applicable Not more than 79,38,556 equity shares. Explanation- It is hereby clarified that the number of ESARs granted under the Scheme may not necessarily correspond on a one-to-one basis with the Total number of shares covered by 3. number of Shares that may ultimately be issued upon these ESARs Exercise of such ESARs, since ESARs represent stock appreciation-linked rights and the Settlement thereof may result in issuance of Shares representing only the Appreciation component which is excess of Market Price of the Share over the ESAR Price. The ESAR Price for the grant is equal to the Market Price of the Shares, as determined by the Nomination and Remuneration Committee in accordance with the Plan. Market Price means the latest available closing price of Shares on the recognized Stock Exchange on which 4. Pricing Formula the Shares of the Company are listed on the date immediately prior to the applicable Relevant Date (Grant Date) Explanation- If such Shares are listed on more than one Stock Exchange, then the closing price on such Stock Exchange having higher trading volume shall be considered as the Market Price. Of the total 79,38,556 ESARs granted, 73,93,366 ESARs shall vest on a graded basis in annual tranches over a period of five years from the date of grant, while the 5. ESARs Vested / Vesting Schedule remaining 5,45,190 ESARs shall vest in equal annual tranches over a period of four years from the date of grant. Time within which ESAR may be 6. 2 Years from the date of vesting. exercised 7. ESARs exercised Not applicable, as this outcome pertains to grant of Nuvama Wealth Management Limited Corporate Identity Number: L67110MH1993PLC344634 Registered Office: 801- 804, Wing A, Building No. 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051 • Tel No. +91 22 6620 3030 • secretarial@nuvama.com • nuvama.com ESARs under the Plan. Money realized by exercise of Not applicable, as this outcome pertains to grant of ESARs ESARs under the Plan. The total number of shares arising Not applicable, as this outcome pertains to grant of as a result of exercise of ESAR ESARs under the Plan. Not applicable, as this outcome pertains to grant of 10. ESARs lapsed ESARs under the Plan. 11. Variation of terms of ESARs Not applicable. The Plan is administered by the Nomination and Remuneration Committee. The granted ESARs, once vested and exercised, shall entitle the ESARs holder the right to receive 12. Brief details of significant terms appreciation for a specified number of equity shares of the Company where the settlement of such appreciation shall be in the equity shares of the Company upon payment of exercise price and applicable taxes in accordance with terms and conditions of the Plan. Subsequent changes or Not applicable, as this outcome pertains to grant of 13. cancellation or exercise of such ESARs under the Plan. ESARs Diluted earnings per share Not applicable, as this outcome pertains to grant of 14. pursuant to the issue of equity ESARs under the Plan. shares on exercise of ESARs. Nuvama Wealth Management Limited Corporate Identity Number: L67110MH1993PLC344634 Registered Office: 801- 804, Wing A, Building No. 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051 • Tel No. +91 22 6620 3030 • secretarial@nuvama.com • nuvama.com