Scheme of Arrangement

Date: September 30, 2026 To, To, BSE Limited, NSE Limited, Corporate Relationship Department Manager- Listing Compliance Floor 25, P. J. Towers, Exchange Plaza, Plot No. C/1, G Block, Bandra Dalal Street, Mumbai 400 001 Kurla Complex, Bandra (East), Mumbai 400 051 BSE Scrip Code: 530355 Trading Symbol: ASIANENE Dear Sir/Madam, Sub: Disclosure of Material event/ Information under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Pronouncement of order by the Hon’ble National Company Law Tribunal, Mumbai Bench (‘NCLT’ or ‘Hon’ble Tribunal’) in the matter of Scheme of Merger by Absorption of Oilmax Energy Private Limited (‘OEPL’ or Transferor Company’) with Asian Energy Services Limited (‘AESL’ or ‘Transferee Company’ or ‘the Company’) and their respective shareholders (‘Scheme’). This is with reference to our earlier communication dated Saturday, July 18, 2026, wherein we informed you regarding the newspaper advertisement intimating the date of the final hearing for the company scheme petition filed for seeking approval of the Scheme under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act 2013 (‘Act’) and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (‘the Rules’) made thereunder. In this regard, we wish to inform you that the Hon’ble Tribunal has pronounced the order sanctioning the aforesaid Scheme on Tuesday, September 29, 2026. A copy of the order approving the Scheme as available on the website of the NCLT, is enclosed herewith as Annexure A for your information and records. The certified copy of the order is awaited and upon receipt of the same the Company shall take all necessary and consequential steps to give effect to the Scheme. This is for your information and dissemination on your website. Thanking you, Yours sincerely, For Asian Energy Services Limited Shweta Jain Company Secretary & Compliance Officer Membership No.: 23368 Enclosure: as above Asian Energy Services Limited CIN: L23200MH1992PLC318353 3B, 3rd Floor, Omkar Esquare, Chunabhatti Signal, Eastern Express Highway, Sion (East), Mumbai - 400022 Phone +91 (22) 42441100 E-mail:secretarial@asianenergy.com Web:https://www.asianenergy.com Source to Solutions Annexure A IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-I CP (CAA) NO. 95/MB/2026 CA (CAA) NO. 49/MB/2026 In the matter of The Companies Act, 2013 (18 of 2013) In the matter of Sections 230 to 232 read with Section 234 and other applicable provisions of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016; In the matter of Scheme of Merger by Absorption of Oilmax Energy Private Limited ("Transferor Company" or "First Petitioner Company") having CIN U40101MH2008PTC185357 with Asian Energy Services Limited ("Transferee Company" or “Second Petitioner Company") having CIN L23200MHI992PLC318353 and their respective shareholders ("Scheme") OILMAX ENERGY PRIVATE LIMITED CIN: U4010 I MH2008PTC185357 …First Petitioner Company / Transferor Company ASIAN ENERGY SERVICES LIMITED CIN: L23200MH1992PLC3 I 8353 … Second Petitioner Company/Transferee Company [collectively referred to as the “Applicant Companies”] IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-I CP (CAA) NO. 95/MB/2026 IN CA (CAA) NO. 49/MB/2026 ORDER PRONOUNCED ON 29.09.2026 Coram: Sh. Prabhat Kumar Sh. Sushil Mahadeorao Kochey Hon’ble Member (Technical) Hon’ble Member (Judicial) Appearances: For the Applicant Companies : Adv. Rohit Gupta a/w CA Harsh Ruparelia i/b M/s. A R C H and Associates ORDER 1. Heard the learned Counsel for the Petitioner Companies. 2. The present Company Scheme Petition has been filed in the matter of the Scheme of Merger by Absorption of Oilmax Energy Private Limited (‘The First Petitioner Company/ Transferor Company’) with Asian Energy Services Limited (‘The Second Applicant Company/ The Transferee Company) and their respective shareholders and creditors under sections 230 to 232 of the Companies Act, 2013. The First Petitioner Company and The Second Petitioner Company are collectively referred to as ‘The Applicant Companies’. 3. Petitioner Company No. 1/Transferor Company bearing CIN U40lOlMH2008PTC185357 was incorporated on 02.08.2008 under the Companies Act, 1956, as a Private Limited Company presently having registered office at G-101, Ground Floor, Runwal & Omkar Esquare, Off. Eastern Express Highway, Chunabhatti Signal, Sion East, Mumbai - 400 022. 4. It is submitted that the First Petitioner Company is engaged in the business of exploration, development, and production of oil and gas assets. The First Petitioner Company focuses on the development of oil and gas blocks in India having discovered and proven oil and gas reserves. It has established a diversified portfolio of onshore oil and gas assets, with varying participating 2 | Page IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-I CP (CAA) NO. 95/MB/2026 IN CA (CAA) NO. 49/MB/2026 interests in five (5) oil and gas blocks, including one Coal Bed Methane (CBM) block. The First Petitioner Company has further expanded its business into the mineral sector and has acquired a quartzite block in India. In addition, through its subsidiary, the First Petitioner Company has also ventured into the business of advanced agriculture. 5. Petitioner Company No. 2/ Transferee Company bearing CIN L232OOMH1992PLC318353 was incorporated on 09.03.1992 as a Private Limited Company, under provisions of Companies Act, 1956. The Registered Office of the Transferee Company is presently situated at 3B, 3rd Floor, Runwal & Omkar Esquare, Off. Eastern Express Highway, Chunabhatti Signal, Sion East, Mumbai - 400 022. 6. It is submitted that the Second Petitioner Company is an oil and gas industry service provider, offering end-to-end services across the entire upstream value chain. Its services include geophysical data acquisition, production facility engineering, procurement and construction under the Build-Own-Operate- Transfer (BOOT) model, integrated oil and gas field development, operation and maintenance of enhanced oil recovery facilities, material handling, exploration, marine diesel oil, and other allied services. The Second Petitioner Company is a listed company, and its equity shares are listed on both BSE Limited and the National Stock Exchange of India Limited. 7. The Petitioner Companies have approved the Scheme of Merger by Absorption by passing board resolution in their respective board meetings conducted on 06.09.2025 have approved the Scheme. 8. The Appointed Date for the Scheme means 1st day of the month in which the Effective Date occurs or such other date as the Adjudicating Body(ies) may direct or fix. 9. The rationale for the scheme is as follows: “The Transferor Company is the holding company of the Transferee Company. Both the Transferor Company and the Transferee Company are engaged in the business related to energy and minerals sector specially oil 3 | Page IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-I CP (CAA) NO. 95/MB/2026 IN CA (CAA) NO. 49/MB/2026 & gas. The consolidation of both entities will have a diversified portfolio of assets and businesses in the merged entity, which would not only be engaged in business of production and development of oil & gas blocks with proven resources and minerals resources but also provide end to end strategic solutions to oil & gas and minerals industry with offering extending across the entire upstream value chain including but not limited to geophysical data acquisition, integrated oil & gas field development, operations and maintenance, production facility construction on EPC and/or build-own-operate-transfer model, enhanced oil recovery services, material handling and rapid loading systems, exploration services, manpower services and other customized solutions to energy and minerals sector. The proposed integration of the respective business activities of both entities in [Showing first 8,000 characters — download PDF for full document]