General Updates

HEG/SECTT/2026 September 3, 2026 To To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block- G, Dalal Street, Mumbai - 400 001 Bandra Kurla Complex, Bandra (East), SCRIP CODE: 509631 Mumbai - 400 051 SYMBOL: HEG Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Assignment of ESG Score by NSE Sustainability Ratings & Analytics Limited (ISIN: INE545A01024) Dear Sir/Madam, This is to inform you that NSE Sustainability Ratings and Analytics Limited (NSE Sustainability), vide its report received by the Company on September 2, 2026 has assigned an Environmental, Social and Governance (ESG) score of “60” (Rating Category: Adequate) for FY 26 as against “63” for FY 25 and Core ESG Rating “55” to the Company, based on publicly available data. The reason for downward revision in ESG rating from “63” FY 2025 to “60” FY 2026 is as per the report. (Copy of report is enclosed). Please note that the rating pertains to the Financial Year ending 2026 i.e. for period prior to effectiveness of the Composite Scheme of Arrangements and as such pertains to the Graphite Business, which has already been now demerged into separate company w.e.f. September 1, 2026 (i.e upon effectiveness of the Scheme) It may please be noted that the Company has not engaged the NSE Sustainability Ratings and Analytics Limited for the said rating. The report has been independently prepared by NSE Sustainability Ratings and Analytics Limited using information available in the public domain. This disclosure is being made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Yours faithfully, For HEG Advanced Materials Limited (formerly HEG Limited) Ravi Gupta Company Secretary & Compliance Officer FCS No.: 5731 Encl.: A/A ESG RATINGS FY2026 HEG Limited HEG Limited Capital Goods | Electrodes And Refractories HEG Limited Last Review Date: 2nd September 2026 FY2026 FY2025 * ESG Rating ESG Rating 60 63 Environment Score Social Score Goverance Score 45 77 63 Rating Category : Adequate Vesuvius India Limited is part of the global Vesuvius Group and operates in the Industrial sector. The company provides advanced refractory products and engineering solutions, primarily serving the steel and foundry industries. We have assessed the company across the three pillars – Environment, Social and Governance: NSE Sustainability Ratings & Analytics ESG Ratings assess how a company manages its material ESG issues, such as climate change, employee and community welfare, diversity, anti-corruption, etc. and how it creates positive outcomes for its stakeholders and society at large. It also evaluates how the company manages and mitigates ESG-related risks through various initiatives and commitments, as well as how it identifies ESG-related opportunities. We define sector-wise ESG parameters and evaluate a company’s performance against those parameters, assigning a rating using a structured scoring framework: • Environmental assessment Environmental Stewardship assesses the company's impact on the natural environment and its efforts towards sustainability. It includes aspects like climate change mitigation, sustainable management of resources and so © Copyright 2026 - NSE Sustainability Ratings and Analytics Ltd. All Rights Reserved HEG Limited Capital Goods | Electrodes And Refractories • Social impact helps assess how well leadership manages relationships with stakeholders, ensures employee welfare, positively impacts communities, and holds supply chain partners accountable. Businesses are evaluated based on their policies and initiatives around diversity, inclusion, social equity, and ethical conduct. • Effective governance including transparency and disclosures is crucial for ensuring business continuity and minimizing risk. We assess factors such as the independence and diversity of the board, segregation of the roles of CEO and Chairperson, and the composition of auditors, including the balance between audit and non-audit/advisory services. NSE Sustainability Ratings & Analytics *There have been updates to the underlying data, resulting in a revision of the FY2025 ratings. © Copyright 2026 - NSE Sustainability Ratings and Analytics Ltd. All Rights Reserved HEG Limited Capital Goods | Electrodes And Refractories ESG Ratings - Key Drivers The score of 45 of Environment pillar of HEG Limited is driven by: • The organization's greenhouse gas emissions from direct operations and energy con- Environment sumption exceed industry averages. Decrease of 21% observed as compared to the Weightage previous year. • The company's carbon footprint from Scope 3 emissions is higher than the standard practices. Decrease of 25% observed as compared to the previous year. • Energy intensity is significantly higher than industry peers. Decrease of 17% observed as compared to the previous year. • The company's reliance on renewable energy is minimal. Decrease of 28% observed as compared to the previous year. Environment • Waste intensity is above the industry average. Decrease of 34% observed as compared Score to the previous year. • Waste recycling and recovery are high when compared with peers. Increase of 2% observed as compared to the previous year. The score of 77 of Social pillar of HEG Limited is driven by: • The Company reports an LTIR approaching zero/significantly lower than peers. • Lost time incident rate for workers is low as compared to the peers. NSE Sustainability Ratings & Analytics • The company has disclosed employee fatality data, reporting a total of 0 fatalities. Social • The company has disclosed worker fatality data, reporting a total of 0 fatalities. Weightage • 100% of permanent employees are covered under health insurance. • Almost all permanent workers are covered by accident insurance. • Women are underrepresented in the organization compared to industry standards. In- crease of 1% observed as compared to the previous year. • The organization is receiving a lower number of grievances from its employees and workers. • The company is experiencing average turnover among permanent employees. Increase of 75% observed as compared to the previous year. • The frequency of customer complaints is lower than the benchmarks. Decrease of 50% observed as compared to the previous year. Social • The Company has maintained zero product recalls, validating superior quality assur- Score ance systems. • A significant portion of facilities hold ISO 9001 Quality Management certification. • CSR spending significantly exceeds obligations. • A documented CSR policy exists, outlining social responsibility strategies. • The organization's domestic procurement rate is lower than industry standards. © Copyright 2026 - NSE Sustainability Ratings and Analytics Ltd. All Rights Reserved The score of 63 of Governance pillar of HEG Limited is driven by: • The board composition shows a stronger presence of independent directors than the minimum required by regulations. • The company has fulfilled the regulatory requirement for having a sufficient number of Goverance women on its board. Weightage • The Board Chairperson is a Promoter or Executive, indicating a lack of separation of power. • The company's leadership structure combines the Chairman and CEO roles, potentially undermining the independence of the board. • Percentage of independent directors in Nomination and Remuneration Committee is better than the compliance requirements. • The Audit Committee's independent director representation is better than the statutory guidelines. • The composition of the Risk Management Committee is better than the required thresh- old of independent directors, ensuring regulatory compliance. • The percentage of independent directors in the CSR Committee is compliant with reg- G [Showing first 8,000 characters — download PDF for full document]