Updates

September 1, 2026 To To National Stock Exchange of India Limited, BSE Limited, The Manager, Listing Department, The Corporate Relationship Department “Exchange Plaza”, C-1, Block G, 1st Floor, New Trading Wing, Rotunda Building, Bandra-Kurla Complex, Bandra (E), Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Symbol: WHEELS Scrip code: 590073 Dear Sir / Madam, Subject: Corrigendum to the Notice of the Extra Ordinary General Meeting of Wheels India Limited (“Company”) scheduled to be held on September 17, 2026 Ref.: (a) Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”); (b) Our intimations dated August 24, 2026 and August 31, 2026. This is further to the above intimations and captioned subject. The Company has intimated that the Extraordinary General Meeting of the Company (“EGM ”) is to be held on Thursday, the September 17, 2026 through Video Conferencing/Other Audio-Visual Means. The Company had filed application with the National Stock Exchange of India Limited (“NSE”) for seeking in-principle approval in relation to the proposed preferential issue of equity shares for which the approval of the shareholders is being sought. Thereafter, the Company has received certain observations from NSE vide its letter dated August 27, 2026 (Ref: NSE/LIST/57076). This corrigendum to the notice convening the EGM (“Corrigendum”) is being issued pursuant to the observations from NSE. The Corrigendum (as enclosed) forms an integral part of the EGM Notice and:: (a) is being sent electronically to all the Members; and (b) is available at the Company’s website at https://wheelsindia.com and can be accessed at https://wheelsindia.com/wp-content/uploads/2026/09/Corrigendum-to-the-EGM-notice.pdf, and on the website of the Central Depository Services Limited (CDSL) at www.evotingindia.com. The revised extract of the notice and the explanatory statement in respect of item no. 1 of the EGM notice can be accessed at https://wheelsindia.com/wp-content/uploads/2026/09/Revised-notice-and- explanatory-statement-for-item-1-of-EGM-notice.pdf Kindly take the same on record. Thanking you. Yours faithfully, For Wheels India Limited K V Lakshmi Company Secretary & Compliance Officer CORRIGENDUM TO THE NOTICE OF EXTRAORDINARY GENERAL MEETING OF THE MEMBERS OF WHEELS INDIA LIMITED Date: 31.08.2026 This Corrigendum is being issued in continuation of and in respect of the Notice dated 19.8.2026 (“Notice”) convening the Extraordinary General Meeting (“EGM”) of the Members of Wheels India Limited (“Company”) to be held on 17.09.2026 by way of Video Conferencing (VC)/Other Audio Visual Means (OAVM), together with the Explanatory Statement annexed thereto, in connection with the proposed issue and allotment of Equity Shares on a preferential basis. The Notice of the EGM was dispatched to the shareholders of the Company in due compliance with the provisions of the Companies Act, 2013, and rules made thereunder, read with circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India. In this regard we would like to mention that with regard to Item No. 1 of the same, the Company had filed application with the National Stock Exchange of India Limited (“NSE”), for seeking in-principle approval in relation to the proposed preferential issue of equity shares for which the approval of the shareholders is being sought. Thereafter, the Company has received certain observations from NSE vide letter no. NSE/LIST/57076 dated 27.08.2026. Pursuant to the correspondence with NSE, a valuation report dated 31.08.2026. was issued by Mr. Tharuvai Ramachandran Ravichandran to revise the valuation report dated 19.08.2026 obtained on a voluntary basis, and align the calculation of price of the equity shares to be issued by the Company in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”), as detailed below. Accordingly, the said revised valuation report was taken on record by the Board at its meeting held on 31.08.2026. The Board also took note of the revised issue price for the proposed preferential issue of equity shares, as per the pricing formula prescribed under the ICDR Regulations. The Board has approved modification to the issue price of the equity shares proposed to be issued by the Company from Rs. 1418/- to Rs. 1461/- per equity share in accordance with ICDR Regulations with other changes to the Notice, along with a subsequent amendment to the number of shares being issued to each of the proposed allottees (as detailed below). The total consideration for the preferential issue remains unchanged at Rs. 180 Crore. Accordingly, this corrigendum (“Corrigendum”) is being issued in continuation of and to be read in conjunction with the Notice together with the explanatory statement thereof. This Corrigendum shall be deemed to be an integral part of the Notice. Pursuant to this Corrigendum, the members of the Company are hereby informed and requested to take note of the following modifications at the respective Resolution and Explanatory Statement in the Notice. All other particulars and details as mentioned in the Notice shall remain unchanged. This Corrigendum is also available on the Company’s website viz. https://wheelsindia.com and can be accessed at https://wheelsindia.com/wp- content/uploads/2026/09/Corrigendum-to-the-EGM-notice.pdf, on the website of NSE at www.nseindia.com and on the website of Central Depository Services Limited (CDSL) at www.evotingindia.com. Modifications in Resolution at Item No. 1 and Explanatory Statement thereof: 1. Revision in Issue Price For the purpose of determining and satisfying itself regarding the reasonableness of the issue price, the Company had voluntarily obtained a valuation report dated 19.08.2026 from Mr. Tharuvai Ramachandran Ravichandran, an independent registered valuer (having registration number IBBI/RV/03/2018/10399), wherein the value/issue price was determined at Rs. 1418/- per Equity Share. The said valuation report was obtained by the Company voluntarily and as a matter of good corporate governance and due diligence, and was not obtained pursuant to any statutory requirement applicable to the Company for the proposed preferential issue. Upon receipt of comments from National Stock Exchange of India Limited (“NSE”) and at the request of the Company, the valuer considered the methodology/formula applicable for determination of the minimum issue price under the requirements communicated by NSE and issued a revised valuation report dated 31.08.2026. The revised valuation report can be accessed at https://wheelsindia.com/wp-content/uploads/2026/09/WILRevised- Valuation-Report-31.08.2026-1.pdf and will be available for inspection, by the Members without any fee, through electronic mode during working hours on any working day, except Saturdays, Sundays and public holidays, between 10.00 a.m. and 4.00 p.m. till the date of the EGM. The aforesaid document will also be accessible for inspection during the EGM through electronic mode The revised issue price for the proposed preferential issue of equity shares, as per the pricing formula prescribed under the ICDR Regulations, shall not be less than higher of the following: (a) 90 (ninety) trading days’ volume weighted average price (“VWAP”) of the equity shares of the Company, quoted on NSE, preceding the ‘Relevant Date’ i.e. Rs. 1,460.29 per equity share (revised from Rs. 1,417.64) or (b) 10 (ten) trading days’ VWAP of the equity shares of the Company, quoted on NSE, preceding the ‘Relevant Date’ i.e. Rs. 1,406.93 per equity share (revised from Rs. 1403.77. Based on such methodology/formula, the Board has approved modifications to the issue price of equity shares proposed to be issued by the Company, from Rs. 1418/- to Rs.1461/- (Rupees One thousand Four Hundred Sixty-one only) per Equity Sha [Showing first 8,000 characters — download PDF for full document]