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Mahindra & Mahindra Ltd. Mahindra Towers, Dr. G. M. Bhosale Marg, Worli, Mumbai 400 018 India Tel: +91 22 2490 1441 Fax: +91 22 2490 0833 www.mahindra.com M&M/SEC/2026-27/133 30th September 2026 National Stock Exchange of India Ltd BSE Limited Scrip Code: M&M Scrip Code: 500520 Sub: Transfer Of Equity Shares by Mahindra & Mahindra Employees’ Stock Option Trust to the Stock Option Grantees Dear Sir/Ma’am, In compliance with the undertaking given to the Exchanges at the time of listing of shares that were allotted to Mahindra & Mahindra Employees’ Stock Option Trust (“the Trust”), we are enclosing the details of the Stock Option Grantees to whom the shares have been transferred by the Trust on 30th September 2026, pursuant to the exercise of the Stock Options granted under the Company’s Employees’ Stock Option Scheme. The same is marked as Annexure I. Kindly acknowledge receipt. Yours sincerely, For Mahindra & Mahindra Limited Sailesh Kumar Daga Company Secretary Fcs: 4164 Encl.: As above Cc: Luxembourg Stock Exchange London Stock Exchange Plc ISIN: USY541641194 Regd. Office: Gateway Building, Apollo Bunder, Mumbai 400 001, India | Tel: +91 22 6897 5500 | Fax: +91 22 22875485 | Email: group.communication@mahindramail.com | mahindra.com | CIN No. L65990MH1945PLC004558 ANNEXURE – I MAHINDRA & MAHINDRA EMPLOYEES STOCK OPTION TRUST LIST OF STOCK OPTION GRANTEES TO WHOM THE SHARES HAVE BEEN TRANSFERRED Sr No Name Total No. of Equity Shares 1 Manoj Chinchalkar 7 2 Santosh Kadam 9 3 Devendra Pawar 9 4 Kishor Kukwas 9 5 Jayesh Aware 9 6 Subhash Rahate 9 7 Dilip Surve 9 8 Amol Naik 9 9 Ninad Sakre 9 10 Prakash Chavan 9 11 Vasant Baraskar 9 12 Paresh Lopes 9 13 Dilip Parab 9 14 Rajesh Rai 9 15 Arun Gawad 9 16 Shridhar Choughule 9 17 Manoj Berde 9 18 Vijay Padiyar 9 19 Baliram Bhosale 9 20 Ashok Naik 9 21 Arvind Mhatre 8 22 Romalin Pinto 11 23 Sanjay Band 9 24 Dilip Lagad 9 25 Rajesh Rane 9 26 Anil Manjrekar 10 27 Prakash Mistry 10 28 Harish Babaria 10 29 Kiran Chavan 10 30 Vishwanath Raut 9 31 Manoj Rane 9 32 Budhaji Gawde 9 33 Sameer Sarang 9 34 Dhanaji Chavan 9 35 Dilip Dherange 10 36 Rampravesh Bhagat 10 37 Sharad Pawde 10 38 Sunil Gawde 10 39 Ramchandra Belekar 9 40 Bandu Chalke 9 41 Bharat Vaity 9 42 Prafull More 9 43 Dattatray Dhumal 9 44 Subhash Powale 9 45 Ganesh Pawaskar 9 46 Prashant Shelar 10 47 Rajesh Pereira 9 48 Ashokan Nair 10 49 Santosh Bhalerao 10 50 Dineshkumar Solanki 10 51 Ramesh Bothe 10 52 Dharamveer Singh 5 53 Surendra Yadav 5 54 Ramesh Ottali 10 55 Sudhir Gopale 9 56 Vinod Sutar 9 57 Santosh Chavan 9 58 Sainath Tayshete 9 59 Sunil Kotkar 9 60 Mukesh Palande 9 61 Ravindra Bandbe 9 62 Ashish Salunke 9 63 Atul Modak 9 64 Gajanan Bhalekar 9 65 Pramod Jadhav 9 66 Rajesh Pimple 9 67 Anand Naik 9 68 Anil Borkar 9 69 Ajay Dhage 9 70 Amit Raote 10 71 Sathiapalan Nair 10 72 Manohar Brid 10 73 Amresh Dubey 10 74 Ivan Sequeira 10 75 Anuradha Sawant 10 76 Nevil Andrades 10 77 Arti Padate 10 78 Keshav Dambale 9 79 Anil Gojare 9 80 B Kharat 9 81 Dipak Randhe 9 82 Rameshkumar Jaiswar 9 83 Sudhakar Patil 9 84 Hiraman Chhaparwal 9 85 Prakash Nikhade 9 86 Rajendra Chavan 9 87 Ajay Chavan 9 88 Satish Baviskar 9 89 Shrinivas Borkar 9 90 M Desai 9 91 Chhagan Shelar 9 92 Gopal Sathe 9 93 Sanjay Pathak 9 94 Sandeep Katkamwar 9 95 Chandrashekhar Adke 9 96 Ayaz Siddique Ansari 9 97 Bharatkumar Sarode 9 98 Vasant Ahire 9 99 Rashidahamad Ali 9 100 Milind Rane 9 101 Uday Fadte 9 102 V Shashidharan 9 103 Sunilkumar Nair 9 104 Deepak Mahapadi 9 105 Lawrence Bhandare 9 106 Dnyaneshwar Salunke 9 107 Balasaheb Walunj 9 108 Bishow Adhikari 9 109 Dattu Phad 8 110 Dnyaneshwar Chaudhari 9 111 Surendraprasad Raul 9 112 Dattatray Kanse 9 113 Balu Jadhav 9 114 Siraj Patel 9 115 Sunil Parmatkar 9 116 Ravindra Bagul 9 117 Sanjay Pawar 9 118 Keda Pawar 9 119 Sanjay Tidke 9 120 Mohan Magar 9 121 Mundakkal L Babu 9 122 Madhukar Shinde 9 123 Madhavrao Mohan 9 124 Sudhir Putran 9 125 Sudhakar Wani 9 126 Dinkar Sonawane 9 127 Sanjay Gangurde 9 128 Sunil Ahire 9 129 Vishwas Bansode 9 130 Dinkar Borse 9 131 Chandrabhan Bhagwat 9 132 Ashok Kajale 9 133 Subhash Shardul 9 134 Ramdas Patil 9 135 Milind Pande 9 136 Sanjay Pawar 9 137 Ajit Acharya 9 138 Varadraj Kundar 9 139 Sanjeev Pangarkar 9 140 Ramnath Waje 9 141 Shrikrishna Kargutkar 9 142 Balchand Hase 9 143 Somnath Aswale 9 144 Ashok Wagh 9 145 Upendra Wani 9 146 Uttam Wakchaure 9 147 Dnyandeo Pawar 9 148 Narendra Panshikar 9 149 Laxman Khairnar 9 150 Balasaheb Kamankar 9 151 Anil Salve 9 152 Mahindra Aher 8 153 Ravindra Bachhav 9 154 Digambar More 9 155 Gorakhnath Gund 9 156 Kantilal Sapkal 9 157 Shrikant Deshmukh 9 158 Tanaji Mali 9 159 Ashok Falane 9 160 Prakash Mankape 9 161 Shantaram Kale 9 162 Krishna Vanja 9 163 Girish Bachhav 9 164 Jibhau Wagh 9 165 Pankaj Jadhav 9 166 Rajendra Shelar 9 167 Gorakh Bachhav 9 168 Hemdatta Kirtane 9 169 Sanjay Pawar 9 170 Pramod Karle 9 171 Shrikant Gaikwad 9 172 Shyam Jadhav 9 173 Prakash Jadhav 9 174 Shahaji Karande 9 175 Santosh Pawar 9 176 Babaji Said 9 177 Suhas Fegade 9 178 Rajendra Suryawanshi 9 179 Udhav Bhadane 9 180 Pravin Vidhate 9 181 Raghunath Kedare 9 182 Sachin Waghmare 9 183 Sanjay Gavali 9 184 Kishor Baviskar 9 185 Ravindra Shirsath 9 186 Sanjay Deokar 9 187 Vishnu Godse 9 188 Jaydeep Kharade 9 189 Nana Pagar 9 190 Trivikram Karambalekar 9 191 Anil Kadam 9 192 Dilipkumar Pillai 9 193 Digambar Thakare 9 194 Sunil Dhande 9 195 Chandrakant Bhamre 9 196 Dilip Nikam 9 197 Madhukar Kedare 9 198 Shatrughna Thorat 9 199 Ravindra Kollur 9 200 Kailas Gawali 9 201 Kailash Thorat 9 202 Nandkishor Sonawane 9 203 Sanjay Jadhav 9 204 Jagannath Shewale 9 205 Dnyaneshwar Badgujar 9 206 E Dickson 9 207 Ashok Labhade 9 208 Dattu Shinde 9 209 Anant Ghag 9 210 Ganesh Jadhav 9 211 Manoj Badgujar 9 212 Surendra Gosavi 9 213 Ashok Nikam 9 214 Ravi Sansare 9 215 Sunil Mogale 9 216 Dinesh Borse 9 217 Bajirao Lone 9 218 Husen Dange 9 219 Paraji Jagzap 9 220 Deorao Darade 9 221 Ranganath Sonawane 9 222 Dharambeer Keer 9 223 Narendra Deore 9 224 Mahesh Shinde 9 225 Shravan Khairnar 9 226 Raosaheb Mandale 9 227 Ravindra Wankhede 9 228 Lalit Bhangale 9 229 Sanjay Nikam 9 230 Ashok Gulve 9 231 Laxman Mahajan 9 232 Sanjay Lokhande 9 233 Satish Joshi 9 234 Balkrishna Patil 8 235 Suhas More 9 236 Digamber Bodkhe 9 237 Amarsingh Patil 9 238 Narayan Misal 9 239 Kailas Lonare 9 240 Ravindra Jain 9 241 Rajendra Agale 9 242 Sanjay Mahatme 9 243 Prasad Shukla 9 244 Jitendra Patil 9 245 Sunil Dhumane 9 246 Sanjay More 9 247 Subhash Diwan 9 248 Balasaheb Dighe 9 249 Satish Khachane 9 250 Raju Gaikwad 9 251 Ashok Vikhankar 9 252 Khemchand Patil 9 253 Sambhaji Patil 9 254 Nandu Bhamre 9 255 Dinkar Attarde 9 256 Sunil Kale 9 257 Karbhari Shelar 9 258 Vasant Kauthale 9 259 Bhanudas Bhise 9 260 Umakant Shukla 9 261 Gulab Bagul 9 262 Navnath Gite 9 263 Mangaldas Bodke 9 264 Jaywant Pandit 9 265 Ignatius D'souza 9 266 Ramnath Chaudhari 9 267 Pandit Gite 9 268 Sunil Tathe 9 269 Dattatray Aher 9 270 Ganesh Sonar 9 271 Vijay Wagh 9 272 Ganpat Bhagwat 9 273 Anand Tambe 9 274 Dattu Jadhav 9 275 Hiraman Ahire 9 276 Namdeo Rathod 9 277 Shubhakar Poojari 9 278 Madhukar Waghulde 9 279 Jagdish Talekar 9 280 Namdeo Ghuge 9 281 Prashant Pawar 9 282 Ramchandra Gosavi 9 283 Bharat Ghodake 9 284 Vijay Kulkarni 9 285 Ramling Kumbhar 9 286 Balasaheb Targe 9 287 Tarachand Bante 9 288 Navnath Shinde 9 289 Sanjivan Netke 9 290 Raju Aher 9 291 Laxmikant Dubey 9 292 Shrikant Dhatrak 9 293 Radhakishan Kalaskar 9 294 Ajay Parkhe 9 295 Vijay Jadhav 9 296 Dilip Morane 9 297 Anil More 9 298 Devidas Ahire 9 299 P Mansinghe 9 300 Ganesh Lokhande 9 301 Suresh Nagare 9 302 Harichandra Girase 9 303 Vijay Chakor 9 304 Sanjay Ghate 9 305 Chandu Jadhav 9 306 Prakash Dhangarmali 9 307 Ashok Raundal 9 308 Chetan Dani 9 309 Jibhau Wagh 9 310 Raju Abdule 9 311 Pradeep Mukunde 9 312 Mangesh Kamble 9 313 Vasant Bagul 9 314 Suresh Autade 9 315 Yogeshwar Thakare 9 316 Sanjay Patil 9 317 Shivaji Pathade 9 318 Rajendra Pawar 9 319 Govind Rajput 9 320 Mangalsingh Jag [Showing first 8,000 characters — download PDF for full document]