Outcome of Board Meeting

September 25, 2026 To To National Stock Exchange of India Limited, BSE Limited, The Manager, Listing Department, The Corporate Relationship Department “Exchange Plaza”, C-1, Block G, 1st Floor, New Trading Wing, Rotunda Building, Bandra-Kurla Complex, Bandra (E), Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Symbol: WHEELS Scrip code: 590073 Dear Sir / Madam, Subject: Qualified institutions placement of equity shares of face value of ₹ 10 each (the “Equity Shares”) Wheels India Limited (the “Company”) under the provisions of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”), and Sections 42 and 62 of the Companies Act, 2013 (including the rules made thereunder), as amended (the “Issue”). Please refer to our letter dated September 24,2026 intimating you about the meeting of the Fundraise Committee (hereinafter referred to as “Committee”) to be held on September 25,2026 in respect of the Issue. The Issue was opened on September 24,2026 and the same was intimated to you vide our letter dated September 24,2026. We wish to inform you that the Committee at its meeting held today i.e. September 25, 2026 has, inter alia, passed the following resolutions: a. Approving the closure of the Issue today (i.e. September 25, 2026) pursuant to the receipt of application forms and the funds in the escrow account(s) from the eligible qualified institutional buyers in accordance with the terms of the Issue; b. Determining and approving the allocation of 11,97,318 Equity Shares at an Issue price of Rs. 2088/- per Equity Share (including a premium of Rs. 2078/- per equity share) which is at a discount of Rs.109.10 per Equity Share i.e. [4.97% to the floor price of Rs.2197.10 per Equity Share), in accordance with the SEBI ICDR Regulations upon the closure of the Issue, determined in accordance with the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue; PLEASE ADDRESS ALL COMMUNICATIONS TO THE FACTORY c. Approving and adopting the Placement Document dated September 25, 2026, copy of the same is being made available on the website of the Company at September 25, 2026 d. Approving and finalizing the confirmation of allocation note to be sent to eligible qualified institutional buyers, intimating them of the allocation of Equity Shares pursuant to the Issue; and e. Approving issuance of refund intimation letter to the bidders who are entitled to receive the refund amount, if any. The meeting of the Committee commenced at 7.45 P.M and concluded at 8.00 P.M In relation to this, we are filing the Placement Document dated September 25, 2026 with your office. We request you to kindly take this on records.. Further, as per Company’s Code of Conduct for Prevention of Insider Trading to regulate, monitor and report trading by Designated Persons (“Code”), the trading window for dealing in the securities of the Company had already been closed from September 24, 2026 till 48 hours for the purpose of this QIP issue. Thanking you. Yours faithfully, For Wheels India Limited K V Lakshmi Company Secretary & Compliance Officer