ESOP/ESOS/ESPS

PHYSICSWALLAH LIMITED Date: September 10, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 051 India Mumbai – 400 001 India Symbol: PWL Scrip Code: 544609 Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) - Allotment of 41,22,180 Equity Shares pursuant to Exercise of Stock Options. Dear Sir/Madam, Pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations, this is to inform you that the Board of Directors of Physicswallah Limited (“Company”) by the way of circular resolution on September 10, 2026, has approved the allotment of 41,22,180 (Forty-One Lakh Twenty-Two Thousand One Hundred Eighty) fully paid-up equity shares of face value INR 1 (Indian Rupee One) each upon exercise of vested stock options by eligible employees under the Physicswallah Limited Employees' Stock Option Plan, 2022 (“ESOP Plan 2022”). The said equity shares shall rank pari passu with the existing equity shares of the Company in all respects. Consequent to the aforementioned allotment, the paid-up share capital of the Company shall increase from INR 2,90,08,86,652 to INR 2,90,50,08,832. The details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are enclosed herewith as Annexure-A. This disclosure will also be hosted on the Company's website viz https://www.pw.live/investor-relations Request your good office to take this information on record. Yours sincerely, For Physicswallah Limited Ajinkya Jain Group General Counsel, Company Secretary & Compliance Officer Membership No.: A33261 Physicswallah Limited (Formerly known as ‘Physicswallah Private Limited’) Plot No. B-8, Tower A 101-119, Noida One, Noida, Sector 62, Dadri, Gautam Buddha Nagar, Uttar Pradesh - 201309; CIN: L80900UP2020PLC129223; Contact: 0120-6618164; Website: www.pw.live; Email Id: compliance@pw.live PHYSICSWALLAH LIMITED Annexure-A Sl. Particulars Details 1 Brief details of options granted The present event pertains to the allotment of 41,22,180 (Forty-One Lakh Twenty-Two Thousand One Hundred Eighty) fully paid-up equity shares of the Company, each having a face value of INR 1 (Indian Rupee One), pursuant to the exercise of vested stock options under the ESOP Plan 2022. 2 Whether the scheme is in terms of SEBI Yes (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 3 Total number of shares covered by these 41,22,180 equity shares, each having a face value of options INR 1 (Indian Rupee One), are covered by stock options granted, including requisite adjustments pursuant to corporate actions, as provided under the ESOP Plan 2022. 4 Pricing formula / Exercise Price The exercise price shall be INR 1 (Indian Rupee One) per stock option. 5 Options vested Not Applicable 6 Time within which option may be exercised The vested options can be exercised at any time from the respective date(s) of vesting, as per the terms of ESOP Plan 2022. 7 Options exercised In the present event, 11,45,050 options are exercised under the ESOP Plan 2022. 8 Money realized by exercise of options INR 11,45,050 9 The total number of shares arising as a result Pursuant to the exercise of 11,45,050 stock options, of exercise of option the total number of equity shares underlying the stock options granted, including adjustments on account of corporate actions in accordance with the ESOP Plan 2022, aggregates to 41,22,180 equity shares. 10 Options lapsed Not Applicable 11 Variation of terms of options Not Applicable 12 Brief details of significant terms • ESOP Plan 2022 provides for the manner in which options would be dealt with, in case of death, permanent incapacity, resignation, termination, retirement, abandonment etc. • In case of any corporate action(s) such as rights issue, bonus issue, split or consolidation of equity shares, merger/ amalgamation or sale of division/ undertaking or other reorganization etc., requisite adjustments (which may include adjustments to the number of options in ESOP Plan 2022) shall be appropriately made, in a fair and reasonable manner in accordance with ESOP Plan 2022. • Pursuant to the bonus issue of 35 equity shares for every 1 equity share approved by the Board on Physicswallah Limited (Formerly known as ‘Physicswallah Private Limited’) Plot No. B-8, Tower A 101-119, Noida One, Noida, Sector 62, Dadri, Gautam Buddha Nagar, Uttar Pradesh - 201309; CIN: L80900UP2020PLC129223; Contact: 0120-6618164; Website: www.pw.live; Email Id: compliance@pw.live PHYSICSWALLAH LIMITED March 4, 2025, and by the shareholders on March 5, 2025, appropriate adjustments were made to the options exercised under ESOP Plan 2022, in accordance with the terms of the said plan. • Equity Shares arising on the conversion of the Options shall rank pari passu with all the other equity shares of the Company for the time being in issue, from the date of allotment. 13 Subsequent changes or cancellation or 11,45,050 Exercise of Options exercise of such options 14 Diluted earnings per share pursuant to issue INR (0.09) of equity shares on exercise of options The diluted earnings per share (DEPS) presented above is calculated based on the financial results for the quarter ended June 30, 2026, and reflects the full dilutive effect of the shares issued upon the exercise of the options. Physicswallah Limited (Formerly known as ‘Physicswallah Private Limited’) Plot No. B-8, Tower A 101-119, Noida One, Noida, Sector 62, Dadri, Gautam Buddha Nagar, Uttar Pradesh - 201309; CIN: L80900UP2020PLC129223; Contact: 0120-6618164; Website: www.pw.live; Email Id: compliance@pw.live