Arrangements for strategic, technical, manufacturing, or marketing tie up

भारत हेवी इले(cid:304)(cid:387)(cid:332)क(cid:676) िलिमटेड Bharat Heavy Electricals Limited (भारत सरकार का उप(cid:354)म / A Government of India Undertaking) CIN: L74899DL1964GOI004281 From: Miriam Vandana, Sr. Manager (CS), BHEL, BHEL House, Siri Fort, New Delhi – 110049 To: 1. BSE Limited, Mumbai 2. Na(cid:415)onal Stock Exchange of India Ltd., Mumbai Sub: Signing of Joint Venture Agreement with Titagarh Rail Systems Limited Further to our earlier communica(cid:415)on dated 19.03.2026 and pursuant to Regula(cid:415)on 30 of the SEBI (Lis(cid:415)ng Obliga(cid:415)ons & Disclosure Requirements) Regula(cid:415)ons, 2015, it is informed that BHEL has signed Joint Venture Agreement with Titagarh Rail Systems Limited today (i.e. 15.09.2026). The requisite details in respect of the aforesaid Joint Venture Agreement as prescribed under Regula(cid:415)on 30 are enclosed herewith as Annexure-A. No. AA/SCY/SEs Date: 15.09.2026 (Miriam Vandana) Sr. Manager (CS) shareholderquery@bhel.in पंजीकृत काया(cid:330)लय : बीएचईएल हाउस, िसरी फोट(cid:330), नई िद(cid:671)ी - 110049 | फोन : 011-66337598 | ईमेल : contactus@bhel.in Registered Office: BHEL HOUSE, Siri Fort, New Delhi - 110049 | Phone: 011-66337598 | E-mail: contactus@bhel.in भारत हेवी इले(cid:304)(cid:387)(cid:332)क(cid:676) िलिमटेड Bharat Heavy Electricals Limited (भारत सरकार का उप(cid:354)म / A Government of India Undertaking) CIN: L74899DL1964GOI004281 Annexure-A Disclosure regarding signing of JV Agreement between BHEL and Titagarh Rail Systems Limited (TRSL) i) Name of the en(cid:415)ty(ies) with whom Titagarh Rail Systems Limited (TRSL) agreement/ JV is signed ii) Area of agreement/ JV To form a Joint Venture Company (JVC) for comprehensive maintenance of supplied Vande Bharat Sleeper Trainsets for 35 years. iii) Domes(cid:415)c/ Interna(cid:415)onal Domes(cid:415)c iv) Share exchange ra(cid:415)o/ JV ra(cid:415)o BHEL – 50%; TRSL – 50% v) Scope of business opera(cid:415)on of Comprehensive maintenance of supplied Vande agreement/ JV Bharat Sleeper Trainsets vi) Details of considera(cid:415)on paid/ The JVC is yet to be incorporated. The received in agreement/ JV shareholding in the JVC shall be equal (50:50) between BHEL and TRSL. vii) Significant terms and condi(cid:415)ons  Equity shareholding shall be 50% with BHEL and of agreement/ JV in brief 50% with TRSL  The JVC shall be incorporated as a “Private Limited” Company with an Initial paid-up share capital of INR 50,00,000 (INR Fifty Lakh only)  The registered office of the JVC shall be situated in the state of Delhi  BHEL and TRSL shall nominate Two (2) Directors each on the Board of the JVC viii) Whether the acquisi(cid:415)on would Not a related party fall within related party transac(cid:415)ons and whether the promoter/ promoter group/ group companies have any interest in the en(cid:415)ty being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” ix) Size of the en(cid:415)ty(ies) The JVC is yet to be incorporated. The shareholding in the JVC shall be equal (50:50) between BHEL and TRSL. x) Ra(cid:415)onale and benefit expected The JVC shall leverage the joint technical strength of both promoter companies for ensuring the opera(cid:415)onal readiness, safety and reliability of the trainsets for their en(cid:415)re 35-year service life. पंजीकृत काया(cid:330)लय : बीएचईएल हाउस, िसरी फोट(cid:330), नई िद(cid:671)ी - 110049 | फोन : 011-66337598 | ईमेल : contactus@bhel.in Registered Office: BHEL HOUSE, Siri Fort, New Delhi - 110049 | Phone: 011-66337598 | E-mail: contactus@bhel.in