General Updates

Date: July 14, 2026 To To BSE Limited National Stock Exchange of India Ltd Corporate Relationship Dept., Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai 400001. Bandra (East), Mumbai 400 051. Scrip Code: 544280 Symbol: AFCONS Subject: Communication to Shareholders - Intimation regarding deduction of tax at source on Dividend. Pursuant to the provisions of the Income Tax Act, 2025, dividend paid or distributed by a company shall be taxable in the hands of the shareholders. In this regard, please find enclosed an email communication which has been sent to all the Shareholders whose email addresses are registered with the Company/ Company's Registrar and Share Transfer Agent /Depositories inter alia indicating the process and documentation required for claiming tax exemption on dividend. This is for your information and records Yours faithfully, For Afcons Infrastructure Limited Gaurang Parekh Company Secretary and Compliance Officer Membership No.: F8764 Encl.: As above Afcons Infrastructure Limited Regd. Office: Afcons House, 16, Shah Industrial Estate, Veera Desai Road, Azad Nagar, Andheri(W), Mumbai - 400 053, India, Tel.: +91-22-6719 1000, Email: secretarial@afcons.com www.afcons.com | CIN No.: L45200MH1976PLC019335 AFCONS INFRASTRUCTURE LIMITED CIN-L45200MH1976PLC019335 Registered Office: Afcons House 16, Shah Industrial Estate, Veera Desai Road, Azadnagar, Andheri (West), Mumbai-400053. Web Site: www.afcons.com; E-mail ID: secretarial@afcons.com Tel: (+9122) 6719 1000. URGENT & IMPORTANT Dear Shareholder, We are pleased to inform you that the Board of Directors at their Meeting held on May 18, 2026, have recommended a Dividend of Rs. 2.00 per Equity Share of Rs.10/- each (20%) for the Financial Year ended March 31, 2026 and the said Dividend will be payable on and after July 30, 2026, post approval of the Shareholders at the ensuing Annual General Meeting (“AGM”) of the Company to be held on July 30, 2026 at 3:00 p.m. (IST) vide VC/OAVM. The Notice AGM and Annual Report has been circulated on July 08, 2026, to all the shareholders of the Company. As you are aware, the Company is required to withhold taxes at the prescribed rates on the dividend paid to its shareholders in accordance with Income-tax Act, 2025 (‘the Act’) effective from 01 April 2026. The withholding tax rate varies depending on the residential status of the shareholder and the documents submitted by them and accepted by the Company. The Company shall, therefore, be required to deduct tax at source at the time of making the payment of the dividend, if approved by the Shareholders at the forthcoming AGM. Shareholders holding physical securities are requested to note that SEBI, vide its circular dated November 03, 2021 (subsequently amended by circulars dated December 14, 2021, March 16, 2023 and November 17, 2023) mandated that the security holders, holding securities in physical form, whose folio(s) do not have PAN, Choice of Nomination, Contact Details, Mobile Number, Bank Account Details, Specimen Signature updated, shall be eligible for any payment including dividend, interest or redemption in respect of such folios, only through electronic mode with effect from April 01, 2024, upon their furnishing all the aforesaid details in entirety to Registrar and transfer Agent. No tax will be deducted on payment of dividend to the resident individual shareholder if the total dividend, paid during Tax year (‘TY’) 2026-27, does not exceed INR 10,000/- The withholding tax rate would vary depending on the residential status, category of the shareholder and is subject to provision of requisite declarations / documents to the Company. A. RESIDENT SHAREHOLDERS: A.1 Tax deductible at source for Resident Shareholders (other than resident individual shareholders receiving dividend not exceeding INR 10,000 during the TY 2026-27) S No. Particular Withholding Declaration / documents tax rate required 1 Valid PAN updated with the 10% N.A. Depository Participant in case shares are held in dematerialized form; or Registrar and Transfer Agent (‘RTA’) in case shares are held in physical form and no exemption sought by Shareholder 2 No / Invalid PAN with the 20% N.A. Depository Participant in case shares are held in dematerialized form; or RTA in case shares are held in physical form and no exemption sought by Shareholder 3 Availability of lower/nil tax Rate specified • Copy of PAN card deduction certificate issued by in Lower tax Income Tax Department u/s 395(1) withholding • Copy of lower tax of the Act certificate withholding certificate obtained from obtained from Income Income Tax Tax Department Department A.2 Nil Tax Deductible at Source on dividend payment to Resident Shareholders if the Shareholders submit documents mentioned in table below with the Company/ RTA S No. Particular Declaration / documents required 1 An Individual having dividend • Copy of PAN card (refer point iii to the Notes income more than Rs 10,000 below) and furnishing Form 121 • Declaration in Form No. 121, fulfilling prescribed conditions. (Format of Form No. 121 is enclosed as Annexure -1). 2 Shareholders to whom • Copy of PAN card section 393(4)[Table Sr. No. • Self-declaration (Please download the Link given 10] of the Act apply, such as as Annexure-2, at the end of this LIC, GIC, Business Trust (REIT, communication), along with adequate InVIT) etc. documentary evidence (e.g., registration certificate), to the effect that the no tax withholding is required as per provisions of section 393(1) of the Act. 3 Shareholder covered u/s • Copy of PAN card 393(5) of the Act such as Government, RBI, Mutual • Self-declaration (Please download the Link given Funds specified under as Annexure-2, at the end of this Schedule VII to Section 11 of communication), along with adequate the Act, corporations documentary evidence, substantiating established by Central Act applicability of 393(5) of the Act. and exempt from Income Tax. 4 Category I and II Alternative • Copy of PAN card Investment Fund (AIF) • Self-declaration (Please download the Link given as Annexure-2, at the end of this communication) that AIF’s income is exempt under Schedule V to Section 11 of the Act and they are governed by SEBI regulations as applicable to Category I or Category II AIFs, along with copy of registration certificate. 5 Any other entity exempt from • Copy of PAN card withholding tax under the • Self-declaration (Please download the Link given provisions of the Act as Annexure-2 & 3, at the end of this communication) along with adequate documentary evidence, substantiating the nature of the entity 6 Availability of lower/nil tax • Copy of the lower tax withholding certificate deduction certificate issued obtained from Income Tax Department by Income Tax Department u/s 395(1) of the Act B. NON-RESIDENT SHAREHOLDERS: Tax deductible at source for non-resident shareholders. S No. Category Withholding tax Declaration / documents required rate 1 Foreign Institutional 20% (plus • Copy of PAN card (if available) Investors (FIIs) / applicable Foreign Portfolio surcharge and cess) • Self-declaration (Please download Investors (FPIs) or tax treaty rate the Link given as Annexure-4, at whichever is the end of this communication). beneficial • Copy of Tax Residency certificate issued by revenue authority of country of residence of shareholder for the Tax Year 2026- 27 (covering the period from April 1, 2026 to March 31, 2027) • Shareholders needs to mandatorily provide digital Form 41 covering the period from April 1, 2026 to March 31, 2027 (Note: Application of beneficial Tax Treaty Rate shall depend upon the completeness and satisfactory review by the Company of the documents submitted by the non- resident shareholders. In case the documents are found to be incomplete, the Company reserves the right to not consider the tax rate prescribed under the tax treaty). 2 Alternative 10% (plus • Copy of PAN card [Showing first 8,000 characters — download PDF for full document]