Outcome of Board Meeting

September 10, 2026 The Manager, Listing Compliance Department, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 NSE Symbol: ICEMAKE Dear Sir/Madam, Sub: Outcome of Board Meeting Ref.: NSE ‘In principle’ approval granted vide Ref: NSE/LIST/56521 dated August 27, 2026 under Regulation 28(1) of SEBI (ICDR) Regulations, 2018 Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 & in furtherance to earlier communications dated 24th July 2026 and 19th August 2026, we hereby inform you that the Meeting of Board of Directors of the Company (“Board”) was held today i.e. September 10, 2026, wherein, the Board, inter alia, approved the following: 1. Allotment of Equity Shares: Allotment of 23,67,573 Equity Shares of face value INR 10/- each at an issue price of INR 802.51 per Equity Share (including a premium of INR 792.51 per Equity Share), on a preferential basis by way of private placement, to the persons belonging to the Non-Promoter category as set out in Annexure A, in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”). The Company will make the necessary application to NSE for listing of the aforesaid Equity Shares in accordance with applicable law. The Board Meeting commenced on September 10, 2026 at 11:50 AM and concluded at 12:10 PM. Kindly take same on your record. Thanking you, Yours faithfully, FOR ICE MAKE REFRIGERATION LIMITED MANDAR DESAI COMPANY SECRETARY & COMPLIANCE OFFICER ICE MAKE REFRIGERATION LTD. AN ISO 9001 : 2015, ISO 14001 : 2004, BS OHSAS 18001 : 2007, CRISIL & CE CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer Office : B/1, Vasupujya Chambers, Income Tax Cross Road, Ashram Road, Ahmedabad – 380014. Phone: +91-79 - 2754 0630 Telefax : +91-79-2754 0620 Factory: 226, Dantali Industrial Estate, Gota-Vadsar Road, At: Dantali, Ta: Kalol, Dist: Gandhinagar - 382721 (Gujarat) Phone: +91 9879107881 / 84 Fax: +91-2764-248376 Email: info@icemakeindia.com, Website : www.icemakeindia.com C.I.NO: L29220GJ2009PLC056482 ANNEXURE A DETAILS OF PREFERENTIAL ISSUE / ALLOTMENT The details of the preferential allotment, as required under Regulation 30 and clauses (2) of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-PoD2/I/3762/2026 dated January 30, 2026 are as under: Sr. Particulars of Equity Shares No. disclosure 1. Types of securities Fully paid-up equity shares of the Company each having a face issued value of INR 10/- (Indian Rupees Ten only) (“Equity Shares”). 2. Type of issuance/ Preferential allotment on private placement basis in accordance allotment with the provisions of Chapter V of the SEBI ICDR Regulations, Section 23, 42 and 62 of the Companies Act, 2013 (as amended from time to time) and other applicable laws. 3. Total number of Allotment of 23,67,573 Equity Shares of the Company Securities issued (“Subscription Shares”), at a price of INR 802.51 (Indian Rupees Eight Hundred Two and Fifty One Paise only) per Subscription Share (including a premium of INR 792.51 (Indian Rupees Seven Hundred Ninety Two and Fifty One Paise only) per Subscription Share. 4. Additional Details to be furnished in case of preferential issue a. Name of the Non-Promoter(s) category: investors 1. Galilei Holdings Co. Ltd. (formerly known as Galilei Co. Ltd.) a Japanese company, incorporated under the laws of Japan, having its head office at 2-6-18 Takejima, Nishi-Yodogawa- ku, Osaka, Japan; 2. Ms. Bhumi Jayeshkumar Patel; and 3. Ms. Shweta Samir Patel b. Post allotment of Outcome of allotment: securities outcome of the Investors Pre- Post-allotment subscription, allotment equity shareholding issue price equity /allotted price (in shareholding case of No. % No. % convertibles), Galilei Holdings Co. Nil Nil 22,42,963 12.36 number of Ltd. (formerly ICE MAKE REFRIGERATION LTD. AN ISO 9001 : 2015, ISO 14001 : 2004, BS OHSAS 18001 : 2007, CRISIL & CE CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer Office : B/1, Vasupujya Chambers, Income Tax Cross Road, Ashram Road, Ahmedabad – 380014. Phone: +91-79 - 2754 0630 Telefax : +91-79-2754 0620 Factory: 226, Dantali Industrial Estate, Gota-Vadsar Road, At: Dantali, Ta: Kalol, Dist: Gandhinagar - 382721 (Gujarat) Phone: +91 9879107881 / 84 Fax: +91-2764-248376 Email: info@icemakeindia.com, Website : www.icemakeindia.com C.I.NO: L29220GJ2009PLC056482 Sr. Particulars of Equity Shares No. disclosure investors known as Galilei Co. Ltd.) Bhumi Nil Nil 62,305 0.34 Jayeshkumar Patel Shweta Samir Patel Nil Nil 62,305 0.34 Issue Price: Subscription Shares allotted to the aforementioned allottees at a price of INR 802.51 each. Number of Investors: Allotment of the Subscription Shares are made to the aforementioned three allottees (Non-Promoters) as already disclosed. In case of Not Applicable convertibles - intimation on conversion of securities or on lapse of the tenure of the instrument Any cancellation or Not Applicable 5. termination of proposal for issuance of securities including reasons thereof 6. Lock in The Subscription Shares allotted pursuant to the preferential allotment shall be subject to lock-in in accordance with the applicable provisions of the SEBI ICDR Regulations. FOR ICE MAKE REFRIGERATION LIMITED MANDAR DESAI COMPANY SECRETARY & COMPLIANCE OFFICER ICE MAKE REFRIGERATION LTD. AN ISO 9001 : 2015, ISO 14001 : 2004, BS OHSAS 18001 : 2007, CRISIL & CE CERTIFIED COMPANY Commercial & Industrial Refrigeration Equipment Manufacturer Office : B/1, Vasupujya Chambers, Income Tax Cross Road, Ashram Road, Ahmedabad – 380014. Phone: +91-79 - 2754 0630 Telefax : +91-79-2754 0620 Factory: 226, Dantali Industrial Estate, Gota-Vadsar Road, At: Dantali, Ta: Kalol, Dist: Gandhinagar - 382721 (Gujarat) Phone: +91 9879107881 / 84 Fax: +91-2764-248376 Email: info@icemakeindia.com, Website : www.icemakeindia.com C.I.NO: L29220GJ2009PLC056482 September 10, 2026 The Manager, Listing Compliance Department, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 NSE Symbol: ICEMAKE Dear Sir/Madam, Sub: Outcome of Meeting of the Board of Directors of ICE MAKE REFRIGERATION LIMITED (“the Company”) in terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI LODR Regulations”) This is in continuation of our intimation dated 24th July 2026 and 10th August 2026, regarding joint venture agreement dated July 24, 2026 entered into between the Company and Galilei Holdings Co. Ltd. (formerly known as Galilei Co. Ltd.) (“Galilei”), to which Ice Make Horeca Private Limited (“JV Company”) subsequently acceded pursuant to a deed of adherence dated August 10, 2026 (“JV Agreement”) for the purpose of incorporation of a company in India, under the name of “Ice Make Horeca Private Limited” (“JV Company”). The JV Company was incorporated as a wholly owned subsidiary of the Company and subsequent to incorporation, the JV Company has proposed to raise fund in accordance with the terms of the JV Agreement, pursuant to which the Company shall hold 40% of the shareholding of the JV Company and Galilei shall hold 60% of the JV Company. We wish to inform you that the Board at its meeting held today has approved the subscription by the Company to subscribe to 3,52,70,000 Equity Shares of Ice Make Horeca Private Limited (CIN: U28191GJ2026PTC181848), for an aggregate subscription consideration of INR 35,27,00,000 (being 40% shareholding of JV Company). This disclosure is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular HO/49/14/14(7)2025- [Showing first 8,000 characters — download PDF for full document]