Acquisition

17th September 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, "Exchange Plaza", 5th Floor, Dalal Street, Fort, Plot No. C/1, G Block Bandra-Kurla Complex Mumbai 400 001 Bandra (East), Mumbai 400 051 Scrip code: 504058 NSE SYMBOL: NIPPOBATRY Dear Sir/Madam, Sub: Intimation under Regulation 30 and other applicable regulations of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”), as amended read with the Securities and Exchange Board of India (“SEBI”) master circular dated November 11, 2024, bearing reference no. SEBI/HO/CFD/PoD2/CIR/P/0155 (“Disclosure Circular”) Ref: Investment in Axial Aero Private Limited Pursuant to the provisions of Regulation 30 of the SEBI LODR, Indo National Limited (“INL”) would like to hereby inform you that the Board of Directors of INL has, at its meeting held on 17 September 2026, approved the execution of: (i) a Share Subscription Agreement; and (ii) a Shareholders’ Agreement, with Axial Aero Private Limited (“AAPL”) and its promoters (“Transaction Documents”). Pursuant to the Transaction Documents, INL proposes to invest a further amount of INR 3,90,94,666 (Indian Rupees Three Crore Ninety Lakh Ninety-Four Thousand Six Hundred Sixty-Six Only) in AAPL by way of subscription to 35,249 Class C Compulsorily Convertible Preference Shares (“Class C CCPS”), which, taken together within INL’s existing shareholding in AAPL, would represent 7.97% of the share capital of AAPL on a fully diluted basis, subject to the fulfilment of certain identified conditions precedent and closing of the Transaction Documents and completion of investments by other investors in the same round (“Proposed Transaction”). The disclosure required under Regulation 30(4) of the SEBI LODR read with the Disclosure Circular, is enclosed herewith as Annexure-A. The Board meeting commenced at 3.15 PM and concluded at 04.30 PM Kindly take the above on your record. For Indo National Limited J. Srinivasan Company Secretary lndo National Limited I Corporate office address: Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai – 600034. Registered office address: No. 609, Mount Road, Lakshmi Bhawan IVth FLOOR, Chennai- 600006. CIN No: L31909TN1972PLC006196 I feedback@nippo.in I 044-2827 2711, 044-2824 2700 I www.nippo.in ANNEXURE – A Disclosure of information under Regulation 30(4) of the SEBI LODR read with paragraph B(5) of Part A of Schedule III of the SEBI LODR and the Disclosure Circular:- Particulars Details 1. Name(s) of parties with whom The Share Subscription Agreement is proposed to be the agreement in entered entered by and between Indo National Limited (“INL”), Axial Aero Private Limited (“AAPL”), Mr. Bala Praveen Kumar, Mr. A Ramesh Krishnan and Mr. Srikanth Reddy Tiyyagura. The Shareholders’ Agreement is proposed to be entered by and between AAPL, INL and other shareholders of AAPL. AAPL is engaged in the business of development of flight simulation technologies and digital terrain technologies in both military and commercial domain. 2. Purpose of entering into the Financial investment agreement 3. Size of agreement INR 3,90,94,666 (Indian Rupees Three Crore Ninety Lakh Ninety-Four Thousand Six Hundred Sixty-Six Only) by way of a primary investment in AAPL. 4. Shareholding, if any, in the INL currently holds Class B non-cumulative compulsorily entity with whom the convertible preference shares of the Company of face agreement is executed value of INR 10 (Indian Rupees Ten) each. Upon completion of the Proposed Transaction, INL is expected to hold 7.97% shareholding in AAPL on a fully diluted basis, subject to, among others, the completion of investments by other investors in the same round. 5. Significant terms of the Subject to the closing of the Transaction Documents, INL agreement (in brief) special continues to have the right to nominate 1 (one) member rights like right to appoint to the board of directors of AAPL, and other governance directors, first right to share and management rights, as set out in the Transaction subscription in case of issuance Documents. INL had already exercised the director of shares, right to restrict any nomination right and appointed a member to the board change in capital structure etc. of directors of AAPL pursuant to its previous round of lndo National Limited I Corporate office address: Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai – 600034. Registered office address: No. 609, Mount Road, Lakshmi Bhawan IVth FLOOR, Chennai- 600006. CIN No: L31909TN1972PLC006196 I feedback@nippo.in I 044-2827 2711, 044-2824 2700 I www.nippo.in Particulars Details investment in AAPL. 6. Whether the said parties are AAPL, Mr. Bala Praveen Kumar, Mr. A Ramesh Krishnan related to promoter/promoter and Mr. Srikanth Reddy Tiyyagura are not related parties group/ group companies in any of INL, or any of its promoter / promoter group / group manner. If yes, nature of companies. relationship 7. Whether the transaction would Not a related party transaction. fall within related party transactions? If yes, whether the same is done at “arm’s length” 8. In case of issuance of shares to AAPL proposes to issue 35,249 Class C CCPS to INL at a the parties, details of issue price per share of INR 1,109.10 (Indian Rupees One price, class of shares issued Thousand One Hundred Nine and Ten Paise) as part of its Pre-Series A-1 investment round, pursuant to INL’s exercise of its pre-emptive rights as per the charter documents of AAPL, on the closing of the Proposed Transaction, as per the terms and conditions set out in the Share Subscription Agreement. lndo National Limited I Corporate office address: Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai – 600034. Registered office address: No. 609, Mount Road, Lakshmi Bhawan IVth FLOOR, Chennai- 600006. CIN No: L31909TN1972PLC006196 I feedback@nippo.in I 044-2827 2711, 044-2824 2700 I www.nippo.in