General Updates

Date: 17th July, 2026 National Stock Exchange of India Limited (Scrip ID – VEEDOL) Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 Fax No. (022) 2659 8120 BSE Limited (Scrip Code – 590005) P. J. Towers, Dalal Street, Mumbai – 400 001 Fax No. (022) 2272 1919 Dear Sir(s), Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended - TDS communication to shareholders In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find enclosed herewith a copy of the communication as circulated to the shareholders of the Company on 15th July, 2026, in relation to withholding tax applicable on Final Dividend payable to the shareholders for the financial year 2025-26. This communication will be also available on the website of the Company at www.veedolindia.com. This is for your information and records. Thanking you, Yours faithfully, For VEEDOL CORPORATION LIMITED [formerly Tide Water Oil Company (India) Limited] Abhijit Tikekar Company Secretary and Head – Legal & CSR Membership No. A20213 Encl.: As above. VEEDOL CORPORATION LIMITED [formerly Tide Water Oil Company (India) Limited] CIN : L23209WB1921PLC004357 Regd. Office: Yule House I 8, Dr. Rajendra Prasad Sarani I Kolkata - 700 001 Tel no: 033 7125 7700 I E-mail: corporate@veedol.com Website: www.veedolindia.com; www.veedol.com An ISO 9001:2015 Company Date: 15th July, 2026 Subject: Communication in respect of Tax Deduction at Source on Dividend for the Financial Year 2025-26 Dear Shareholder(s), We wish to inform you that the Board of Directors of your Company (“Board”), at its meeting held on 20th May, 2026 (Wednesday), has recommended a dividend of Rs. 22.00 per equity share of face value of Rs. 2 each, for the financial year ended 31st March, 2026, subject to the approval of the shareholders of the Company at its ensuing Annual General Meeting. The dividend, as recommended by the Board and if approved at the ensuing Annual General Meeting to be held on 24th August, 2026 (Monday), will be paid in electronic form to the shareholders holding equity shares of the Company as on the record date, i.e. 17th July, 2026 (Friday). Pursuant to the General Circular No. 20/2020 dated 5th May 2020 issued by Ministry of Corporate Affairs, the dividend will be paid electronically in the Members bank accounts. The Members holding shares in demat form are advised to keep the bank details updated with their depository participants. SEBI vide its Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated 7th May, 2024 (subsequently amended by Circular Nos. SEBI/HO/MIRSD/POD-1/P/CIR/2023/181 17th November, 2023 and SEBI/HO/MIRSD/POD-1/P/CIR/2024/81 dated 10th June, 2024) has mandated that with effect from April 1, 2024, dividend to security holders (holding securities in physical form), shall be paid only through electronic mode. Such payment shall be made only after furnishing the PAN, choice of nomination, contact details including mobile number, bank account details and specimen signature. If the KYC details is not updated by the shareholder, then the dividend will be withheld by the Company. In terms of the provisions of the Income-tax Act, 2025, (“the Act”), dividend paid or distributed by a Company would be taxable in the hands of the shareholders. The Company shall therefore be required to deduct tax at source at the time of payment of dividend. The deduction of tax at source will be based on the category of shareholders and subject to fulfilment of conditions as provided herein below: For resident shareholders Tax will be deducted at source (“TDS”) under section 393(1) [Table: S.No.7] read with section 393(4) [Table Sr. no. 10] of the Act @ 10% on the amount of dividend payable unless exempt under any of the provisions of the Act, subject to furnishing of valid Permanent Account Number (PAN) by the Member. If shareholders do not have PAN/ have not registered their valid PAN details in their demat account / PAN is found to be inoperative on non-linking of PAN with Aadhaar/ is invalid before Record date, TDS would be deducted @ 20% under section 393(1) [Table: Sl. No. 7] read with section 397(2) of the IT Act. For this purpose, the Company will be using online functionality of the Income-tax department for determining status of PAN of the shareholder and no claim shall lie against the Company in case of higher tax deduction. However, in case of resident shareholders, TDS would not apply if the aggregate of total dividend distributed/paid to them by the Company during a financial year does not exceed Rs. 10,000/-. Tax will not be deducted at source in cases where a shareholder provides Form 121 (which replaces Form 15G/15H under the erstwhile Income tax Act, 1961), provided that the eligibility conditions are satisfied. Please note that the shareholders are required to fill Part A of Form 121 (in full; including the declaration thereto) and Part B (at Sr. No. 8 to 18 only). Blank Form 121 can be downloaded from the link given at the end of this communication. Also, FAQs related to Form 121 can also be downloaded from the below given link. No tax shall be deducted on the dividend payable to resident individuals if they furnish exemption certificate issued by the Income-tax Department, if any Please note that all fields mentioned in the Form are mandatory and the Company may reject the forms submitted, if they do not fulfil the requirement of the law. For Resident Non-Individuals In case of certain class of resident Members other than individuals who are covered under the provisions of Sections 393, 393(4) [Table: Sl. No. 10] and 393(6) of the IT Act, no tax shall be deducted at source ('Nil rate') where they provide self-declaration (refer format) as listed below: i. Insurance companies: Public & Other Insurance Companies, self-declaration that it has a full beneficial interest with respect to the shares owned by it and no tax is deductible as per provisions of 393(4) [Table: S.No.10] of the Act along with self-attested copy of registration certificate and PAN card; ii. Mutual Funds: Self-declaration that it is registered with SEBI and is notified under section 393(5) and specified at Schedule VII (Table: Sl. No. 20or 21) of section 11 of the Act, along with self-attested copy of registration documents with SEBI and PAN card; iii. Alternative Investment Fund (AIF) established in India: Declaration that the shareholder is eligible for exemption under Schedule V [Table: Sl. No. 1] of section 11 of the Act and they are established as Category I or Category II AIF under the SEBI regulations, along with copy of self-attested certificate of AIF registration with SEBI and PAN card; iv. New Pension System Trust: Self-declaration that it qualifies as NPS trust and income is eligible for exemption as per provisions of Schedule VII – Section 11 [Sl. No. 41] of the Act read with CBDT Circular No. 18/2017 and sections 393(9) and 536(2)(j) of the Act along with self-attested copy of documentary evidence supporting the exemption and self-attested copy of PAN card; v. Corporation established by or under a Central Act governed by section 196: Certificate of registration which indicates that it is a corporation established under central act and its income is exempt from income tax. vi. Entities exempt under Schedule V of the IT Act: In case of resident non-individual shareholder, if the income is exempt under the IT Act, the authorized signatory shall submit the declaration duly signed with stamp affixed for the purpose of claiming exemption from TDS (Format of the self-declaration form is annexed below). vii. Beneficial Ownership: In case of equity share(s) held in the Company as a beneficiary; and are not subject to TDS under Section 393(4) of the IT Act, the person shall submit self-attested copy of the documentary evidence supporting the exemption status along with sel [Showing first 8,000 characters — download PDF for full document]