General Updates

July 15, 2026 To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, P. J. Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai - 400051 Mumbai - 400001 Symbol: MOTILALOFS Security Code: 532892 Sub.: Intimation regarding approval of Members for Reclassification of certain members of the Promoter Group from ‘Promoter Group’ Category to ‘Public’ Category Ref.: Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, With reference to our earlier intimation dated June 12, 2026 regarding the receipt of No-objection letter from Stock Exchanges for reclassification of certain members of the Promoter Group from ‘Promoter Group’ Category to ‘Public’ Category and pursuant to the provisions of Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (as amended from time to time), we wish to inform the Stock Exchanges that the Members of the Company at their Twenty-First Annual General Meeting (“AGM”) held on Tuesday, July 14, 2026, have approved the reclassification of the following members of the Promoter Group (also referred to as “outgoing members of the Promoter Group” or “applicants”) from the ‘Promoter Group’ category to the ‘Public’ category: Sr. No. Name of Members seeking reclassification No. of shares held % of shareholding 1. Smt. Ansi Devi Oswal 0 0.00 2. Mr. Javerilal Oswal 0 0.00 3. Mr. Kamlesh Salecha 5,720 0.00 (Legal Heir of Late Smt. Vimala Devi Salecha) 4. Mr. Rajendra Oswal 2,19,984 0.04 5. Mr. Govind Deo Agarawal 2,23,080 0.04 6. Mr. Satish Agrawal 2,73,080 0.05 7. Mr. Karoon Agrawal 3,00,000 0.05 8. Mr. Sukhdeo Agarawal 3,03,548 0.05 9. Mrs. Anita Agrawal 3,20,000 0.05 10. Mr. Vinay Agrawal 4,00,000 0.07 11. Mrs. Suman Agrawal 4,00,000 0.07 Total 24,45,412 0.42 In this regard, we wish to inform the Stock Exchanges that the above-mentioned outgoing members of the Promoter Group stand reclassified as members of the ‘Public’ category with immediate effect. Accordingly, they ceased to be part of the Promoter Group and will not be included under the ‘Promoter Group’ category in the shareholding pattern to be filed by the Company with the Stock Exchanges under Regulation 31 of Listing Regulations going forward. Please find enclosed the Certified True Copy of the Resolution passed by the Members of the Company at the AGM held on July 14, 2026 along with the voting results and Scrutinizer’s Report. Kindly take the same on record. Thanking you, Yours faithfully, For Motilal Oswal Financial Services Limited Kailash Purohit Company Secretary & Compliance Officer Encl: As above CERTIFIED TRUE COPY OF THE ORDINARY RESOLUTION PASSED BY THE MEMBERS OF MOTILAL OSWAL FINANCIAL SERVICES LIMITED (“THE COMPANY”) AT THE TWENTY-FIRST ANNUAL GENERAL MEETING HELD ON TUESDAY, JULY 14, 2026 RECLASSIFICATION OF CERTAIN MEMBERS OF THE PROMOTER GROUP FROM ‘PROMOTER GROUP’ CATEGORY TO ‘PUBLIC’ CATEGORY. “RESOLVED THAT pursuant to the provisions of Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (including any statutory modification(s), re-enactment(s), amendment(s), clarification(s) or substitution(s) thereof for the time being in force) and other applicable laws, and based on the No Objection Letters dated June 12, 2026 received from BSE Limited and National Stock Exchange of India Limited, and subject to all other requisite approvals, permissions, sanctions and conditions as may be prescribed by any of the concerned authorities, if any, and in accordance with the approval of the Board of Directors of the Company, the consent of the Members of the Company be and is hereby accorded for reclassification of the following Members forming part of the Promoter Group (hereinafter referred to as the “Outgoing Members of the Promoter Group”) from ‘Promoter Group’ category to ‘Public’ category, based on the requests received from them: Sr. No. of Equity % of Name of Members seeking reclassification No. Shares held Shareholding 1. Smt. Ansi Devi Oswal 0 0.00 2. Mr. Javerilal Oswal 0 0.00 3M. r Mr. Kamlesh Salecha 5,720 0.00 (Legal Heir of Late Smt. Vimala Devi Salecha) 4. Mr. Rajendra Oswal 2,19,984 0.04 5. Mr. Govind Deo Agarawal 2,23,080 0.04 6. Mr. Satish Agrawal 2,73,080 0.05 7. Mr. Karoon Agrawal 3,00,000 0.05 8. Mr. Sukhdeo Agarawal 3,03,548 0.05 9. Mrs. Anita Agrawal 3,20,000 0.05 10. Mr. Vinay Agrawal 4,00,000 0.07 11. Mrs. Suman Agrawal 4,00,000 0.07 Total 24,45,412 0.42 RESOLVED FURTHER THAT the aforesaid Outgoing Members of the Promoter Group have confirmed that they comply with all the conditions specified in sub-clause (i) to (vii) of clause (b) of sub-regulation (3) of Regulation 31A of the Listing Regulations and shall continue to comply with the conditions mentioned in Regulation 31A(4) of the Listing Regulations post their reclassification to ‘Public’ category. RESOLVED FURTHER THAT for the purpose of giving effect to this Resolution, the Board (including any Committee thereof) be and is hereby authorised to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary or desirable, including without limitation to settle any question, difficulty or doubt that may arise in this regard.” For Motilal Oswal Financial Services Limited Kailash Purohit Company Secretary & Compliance Officer ANNEXURE TO THE NOTICE (the Statement under Section 102 of the Companies Act, 2013) Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (as amended from time to time), has provided a regulatory mechanism for reclassification of Member(s) of Promoter and Promoter Group from ‘Promoter Group’ category to ‘Public’ category, subject to fulfilment of certain conditions as provided therein. In this regard, the Company has received request letters dated April 28, 2026 from the following Members of the Promoter Group (also referred to as “Outgoing Members of the Promoter Group”), seeking reclassification from ‘Promoter Group’ category to ‘Public’ category in accordance with Regulation 31A of the Listing Regulations: Sr. No. of Equity % of Name of Members seeking reclassification No. Shares held Shareholding 1. Smt. Ansi Devi Oswal 0 0.00 2. Mr. Javerilal Oswal 0 0.00 3M. r Mr. Kamlesh Salecha 5,720 0.00 (Legal Heir of Late Smt. Vimala Devi Salecha) 4. Mr. Rajendra Oswal 2,19,984 0.04 5. Mr. Govind Deo Agarawal 2,23,080 0.04 6. Mr. Satish Agrawal 2,73,080 0.05 7. Mr. Karoon Agrawal 3,00,000 0.05 8. Mr. Sukhdeo Agarawal 3,03,548 0.05 9. Mrs. Anita Agrawal 3,20,000 0.05 10. Mr. Vinay Agrawal 4,00,000 0.07 11. Mrs. Suman Agrawal 4,00,000 0.07 Total 24,45,412 0.42 Further, the Company has also received two Family Settlement Deeds (“Deeds”) dated April 27, 2026, executed among the Promoters and the Outgoing Members of the Promoter Group in connection with the proposed re-classification. Further, in accordance with the provisions of Regulation 31A(3)(b) of the Listing Regulations, the Outgoing Members of the Promoter Group have also confirmed that they: a) do not hold more than ten percent of the total voting rights in the Company; b) do not exercise control over the affairs of the Company, directly or indirectly; c) do not have any special rights with respect to the Company, through formal or informal arrangements including through any shareholder agreements; d) are not being represented on the Board of Directors (including not having a Nominee Director) of the Company; e) do not act as Key Managerial Personnel of the Company; f) are not a “wilful defaulter” as per the Reserve Bank of India Guidelines; and g) are not a fugitive economic offender. The Outgoing Members of the Promoter Group have further confirmed that they shall continue to comply with the conditions specified under [Showing first 8,000 characters — download PDF for full document]