Updates

REC Limited I ~1,~~1 fFlfll-2-s REC (1ffi(\ 'II'/<I>R <I>T ~ lfiIT'(R \3""U't)/ (A Government of India Enterprise) Regd. Office: CorH, SCOPE Complex, 7, Lodhi Road, New Delhi -110003 Corporate Office: Plot No. 1-4, Near IFFCO Chowk Metro Station, .~ ~, ;;r-Rl .",~ Sector-29 , Gurugram - 122001 (Haryana) Endless energy_ Infinite possibilities Tel: +91 124 444 1300 I Website: www.recindia.nic.in A MAHARATNA COMPANY CIN : L40101DL 1969GOI005095 I GST No.: 06AAACR4512R3Z3 14 2026 Listing Department Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, 1st Floor, Phiroze Jeejeebhoy Towers Bandra (East), Mumbai - 400 051. Dalal Street, Fort, Mumbai - 400001. Scri Code-RECLTD Scri Code-532955 Sub: Board comments on f"me levied by the Exchanges -Reg. ~ t5'1 C(Ll /~ t5'1 C(LlI, This is with reference to NSE Letter and BSE Email dated May 27, 2026, regarding non-compliance by REC Limited ("REC" / "the Company") with the requirements pertaining to the composition of Board of Directors during the quarter ended March 31, 2026, as stipulated in the SEBI (Listing Obligations and Reguirements) Disclosur~ Regulations, 2015 ("Listing Regulations"). As advised by the Stock Exchanges, the aforesaid matter of non-compliance was placed before the Board of Directors of the Company in their meeting held on June 28, 2026, wherein the Board noted the position of non-compliance with respect to the composition of the Board of Directors and the fines imposed by the Stock Exchanges related therewith. In this regard, the Board desired that regUlar follow-up be made with the appointing authority i.e. Ministry of Power, Government of India, to expedite the process of appointment of requisite number of Independent Directors on the Board of REC. Further, we would like to submit that, being a Government Company and as per Articles of Association of the Company, inter-alia the power to appoint Independent Directors on the Board of the Company is vested with President of India acting through administrative Ministry i.e. Ministry of Power, Government of India and the Company has no -role in the appointment of Directors. Accordingly, the fines so imposed on the Company by the stock exchanges may be waived off. Thanking you, Yours faithfully, For REC Limited (Dinesh Garg) Company Secretary & End: NSE Letter and BSE Email dated May 27,2026. Compliance Officer Regional Offices: Bengaluru, Bhopal, Bhubaneswar, Chennai, Dehradun, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata Lucknow, Mumbai, Panchkula, Patna, Raipur, Ranchi, Shillong, Shimla, Thiruvananthapuram & Vijaywada State Offices : Vadodara, Varanasi Training Centre : REC Institute of Power Management & Training (RECIPMT), Hyderabad NiftySO National Stock Exchange of India NSE/LIST -SOP/COMB/FINES/0611 May 27, 2026 The Company Secretary REC Limited Dear Sir/Madam, Subject: Notice for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") Your attention is drawn towards SEBI Circular No. HO/49/l4/14(7)2025-CFD-POD2/I/3762/2026 ("Master Circular") issued on July 11, 2023 and last updated on January 30, 2026 (hereinafter referred to as "Master Circular"), specifying Standard Operating Procedure for imposing fines and suspension of trading in case of non-compliance with the Listing Regulations. On verification of the Exchange records, it has been observed that your Company has not complied/delayed complied with certain Listing Regulation(s). The details of non-compliance(s)/delayed compliance(s), total fine payable by your Company and the particulars about manner in which fine should be remitted to the Exchange is enclosed as Annexure. You are requested to ensure compliance with respective regulation(s) and make the payment of fines within 15 days from the date of this notice. The Company upon receipt of this review notice, may file the waiver request. Below are the parameters for filing the application for waiver: a) Waiver applications sent via mail is not considered. The Company is requested to submit waiver application on the below mentioned path: NEAPS»Compliance»Fine Waiver»Waiver Request. b) Detailed submission indicating reasons for waiver, mentioning whether it intends to seek personal hearing before the concerned Committee. c) Further, compliance is a pre-requisite for applying for waiver. Thus, waiver application of the non-complied Companies will not be processed without achieving the compliance. d) In case the Company is non-complaint under multiple regulations, the Company is advised to file a single application mentioning the details of all the respective regulations and quarters for which the Company intends to apply for waiver. e) Non-refundable Processing fees for an amount of Rs.lO,OOO plus 18% GST to be paid to the designated Exchange, (as segregated between the Exchanges as per the policy for waiver of fines) only if the fine amount is more than Rs. 5,000/- exclusive of GST. This Document is Digitally Signed by Regd.OtfJce National Stock EtchJnge of Ind,a l1mll",d E'<cnange Plaza. C·l. Block G hdla ,9122 26598100 ...... ww.n5"ncJ'~.com (IN l.;67120MH1992PLC069769 National Stock Exchange Of India Limited However, before filing an application for waiver of fines, you are requested to refer to the below policy available on the Exchange's website. For ready reference you may refer below link: Policy on processing of waiver application: https:llnsearchives.nseindia.coml/web/circular/2026- 01/PolicyjocwaivecoCfines_FinalL20260113193131.pdf Further, as per Master Circular, your Company is also required to ensure that the said non-compliance which has been identified by the Exchange and subsequent action taken by the Exchange in this regard shall be placed before the Board in the next Board Meeting and comments made by the Board shall be duly informed to the Exchange at the below mentioned path in NEAPS portal along with this letter for dissemination having the announcement text as 'Board comments on fine levied by the Exchange'. Path: NEAPS > COMPLIANCE> Announcements> Announcements/ CA (Subject: Updates) In case of any clarification, you may send an email onlistingsop@nse.co.in or contact any of the below mentioned Exchange Officers from Listing Compliance Department: Ms. Madhu Kadam Ms. Harshita Chaubal Ms. Duhita Dhure Ms. Suman Lahoti Ms. Chanchal Daga (Waiver request) Ms. Sweety Mamodia (Waiver request) Yours faithfully, For National Stock Exchange of India Limited Sonam Yadav Manager This Document is Digitally Signed by n~ ct, Of nee . National SDC_ hchangc"f I~d) l,mn"d h-hJnge PLlza. C 1. B.o,> G In,"-, ·91 22 2b~98100 ,'W.\ ~'Plndla.com elN Lo7120~lH:992PlCOoC)'1o'/ National Stock Exchange Of India limited Annexure Fine amount per day No. of days of non- Fine Regulation Quarter (Rs.) / Fine amount per compliance / No. of amount instance (Rs.) instance(s) (Rs.) REGULATION 31-Mar- 5000 90 450000 17(1) 2026 Total Fine 450000 GST@18% 81000 Total Fine Payable (Inclusive of GST) 531000* * In case the Company is non-compliant as on the date of this letter then fine amount will keep on increasing every day till the date compliance is achieved. Notes: • If the fine amount is paid before receipt of this letter then inform the Exchange accordingly. • Please update the payment details on below mentioned path: NEAPS > Payment> SOP Fine Payment. • The above payment may be made vide RTGS / NEFT / Net Banking favouring 'National Stock Exchange of India Limited'. The bank details towards the payment of fine are as follows: BENEFICIARY NATIONAL STOCK EXCHANGE OF INDIA LIMITED NAME BANK NAME lOBI BANK LTD Please refer Unique Account Code used for making Annual Listing AlCNO fees to the Exchange BRANCH BANDRA KURLA COMPLEX, MUMBAI RTGSIIFSC CODE IBKLOOO 10 00 • The fine paid as mentioned above will be credited to IPFT as envisaged in the circular. This Document is Digitally Signed by liegd Olllce' Nat,ona [Showing first 8,000 characters — download PDF for full document]