General Updates

Ref No.: Minechem/Stock Exch/Letter/ 8460 September 19, 2026 The Dy. General Manager, The Dy. General Manager, BSE Limited National Stock Exchange of India Ltd., Corporate Relations & Services Dept., Corporate Relations Dept., Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G Dalal Street, Mumbai - 400 001 Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 527001 Scrip Code: ASHAPURMIN Dear Sir/Madam, Sub: Communication to Shareholders – Intimation on Tax Deduction on Dividend Pursuant to the provisions of the Income Tax Act, 2025 and the Rules framed thereunder, as amended by the Finance Act, 2026, dividend paid or distributed, shall be taxable at the hands of the Shareholders. In this regard, please find enclosed an e‐mail communication sent to all shareholders of the Company whose e‐mail IDs are registered with the Company/Depositories. The communication explains the process of withholding tax from dividends payable to shareholders at the prescribed rates. The same is also available on the Company website at www.ashapura.com. Kindly take the above information on records. Thanking you, Yours faithfully, For Ashapura Minechem Ltd., For Sachin Polke Company Secretary & President (Corporate Affairs) Encl. as above ASHAPURA MINECHEM LIMITED CIN No. : L14108MH1982PLC026396 Regd. Office: Jeevan Udyog Building, 3rd Floor, 278, D.N Road, Fort, Mumbai – 400001 Tel. No.: +91-22 66651700 Fax: +91-22 22074452 Website: www.ashapura.com Investors Relations E-mail ID : cosec@ashapura.com September 19, 2026 Dear Shareholder, We are pleased to inform you that the Board of Directors of the Company, at their Meeting held on 28th May, 2026 have recommended a Final Dividend of Rs. 2.00/- per Equity Share of Rs. 2/- each for the Financial Year ended 31st March, 2026. This dividend will be paid, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting. The Company has fixed Tuesday, 22nd September, 2026 as the record date for determining entitlement of shareholders to receive Final dividend. All Shareholders are requested to kindly ensure that details such as Permanent Account Number ("PAN"), residential status for FY 2026-27, category of shareholder, e-mail ID, full bank account details (IFSC, MICR etc.), postal address are updated, in their respective demat account(s) maintained with the Depository Participant(s) ("DP"), before Tuesday, 22nd September, 2026 for seamless electronic payout and receipt of subsequent communications on credit of dividend. In terms of the provisions of the Income Tax Act, 2025 ("the IT Act"), dividends paid or distributed by a company are taxable in the hands of the Shareholders. Accordingly, the Company shall deduct tax at source ("TDS") at rates (plus surcharge and cess), as applicable, at the time of making the payment of the Final Dividend, if approved and declared at the ensuing AGM. This communication provides a brief of the applicable TDS provisions under the IT Act for Resident and Non-Resident Shareholder categories: RESIDENT INDIVIDUAL SHAREHOLDERS: Category TDS rate Shareholders who have registered their 10%* valid PAN details with the DP/RTA Shareholders who do not hold a valid PAN; or Shareholders who have not registered their valid PAN with the DP/RTA; or 20%* Shareholders whose PAN is not linked with Aadhar *Notes • No TDS will be deducted in case the total dividend paid (PAN clubbed) during FY 2026-27 does not exceed Rs. 10,000/-. • No TDS will be deducted for shareholder who provides Form 121 duly filled up in all respects (through registered e-mail ID) along with self-attested copy of the PAN. Please note all fields are mandatory to be filled up and the Company may at its sole discretion reject the form if it does not fulfil the requirements of the law. • TDS is required to be deducted at the rate prescribed in the lower tax withholding certificate issued under Section 395(1) of the IT Act, if such valid certificate is RESIDENT NON-INDIVIDUAL SHAREHOLDERS: Category of Shareholder Exemption provided Documentation under Mutual Funds Section 393(5) of the IT Self-declaration that they are Mutual Act Funds as specified in Schedule VII (Table: Sr. No. 20 or 21) to Section 11 of the IT Act and have full beneficial interest with respect to shares and self-attested copy of PAN and SEBI Registration Certificate. Insurance Companies Section 393(4) of the IT Self-declaration that it qualifies as an Act “Insurer” as per Section 2(7A) of the Insurance Act, 1938 and has full beneficial interest with respect to shares owned and self-attested copy of PAN and Insurance Regulatory and Development Authority (IRDAI)/LIC/GIC registration certificate. Alternate Investment Section 393(4) (Table: Self-declaration that income is exempt Fund (“AIF”) Sr. No. 10) of the IT Act under Section 11 and are covered under read with Notification Schedule V (Table Sr. No. 1) of the IT Act No. 51/2015 dated 25 and self-attested copy of PAN and SEBI June 2015 issued under Registration AIF certificate. Income Tax Act, 1961 Recognised Provident Circular 18/2017 dated Self-attested copy of PAN and valid Fund / Approved 29 May 2017 issued order/approval of commissioner as per Superannuation Fund / under Income Tax Act, Circular No. 18/2017 issued by Central Approved Gratuity Fund 1961 Board of Direct Taxes (“CBDT”). New Pension System Section 393(9) of the IT Self-declaration that it qualifies as NPS (“NPS”) Trust or any Act Trust and income is eligible for other authorities as exemption under Section 11 and is mentioned under Section covered under Schedule VII (Table: Sr. 11 of the IT Act No. 41) of the IT Act and being regulated by the provisions of the Indian Trusts Act, 1882 along with self-attested copy of PAN. Government Section 393(5) of the IT No TDS required to be deducted. (Central/State) Act IFSC Units of a Finance Section 393(4) (Table: Self-attested copy of PAN and Self- Company, Finance unit Sr. No. 10) of the IT Act declaration in Form 1 in accordance with and Broker Dealer opting read with Notification the notification no. 28/2024 dated 7 to claim deduction u/s No. 28/2024 dated 7 March 2024 issued by CBDT. 147(1)/(3) of the IT Act March 2024 issued under Income Tax Act, 1961 Any other Resident Non- — Valid self-attested documentary Individual Shareholder evidence substantiating exemption from deduction of TDS needs to be submitted along with self-attested copy of the PAN. NON-RESIDENT SHAREHOLDERS: Taxes are required to be withheld in accordance with the provisions of Section 393(2) of the IT Act as per the rates as applicable. As per the relevant provisions of the IT Act, the withholding tax shall be at the rate of 20% (plus surcharge and cess, as applicable) on the amount of dividend payable to Non-Resident Shareholders. However, Non-Resident Shareholders have an option to claim and be governed by the provisions of the Double Tax Avoidance Agreement (“DTAA”) between India and the country of tax residence of the Shareholder, if they are more beneficial to them. In order to avail tax treaty benefits, Non-Resident Shareholders are required to submit ALL of the below documents: • Self-attested true copy of Tax Residency Certificate (“TRC”) for the period 1 April 2026 to 31 March 2027, obtained from the tax authorities of the country of which the Shareholder is resident; • Self-declaration in Form 41 - (It is mandatory to file Form 41 electronically on the Indian Income Tax web portal for non-resident shareholders having PAN in India or required to obtain PAN in India); • Self-attested true copy of the PAN, if allotted by the Indian Income Tax authorities; • Self-declaration (on letterhead) of meeting DTAA eligibility requirement and satisfying beneficial ownership requirement in the format prescribed by the Company. • In case of Foreign Institutional Investors and Foreign Portfolio Investors, copy of SEBI registration certificate. It is recommended that Shareholders should independently satis [Showing first 8,000 characters — download PDF for full document]