Outcome of Board Meeting

October 01, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, 5th floor 25th floor, Dalal Street Plot no. C-1, Block G, Bandra Kurla Complex Bandra Mumbai - 400 001 (East), Mumbai - 400 051 Scrip Code: 543245 Symbol: GLAND (ISIN: INE068V01023) Dear Sir/Madam, Sub: Outcome of Board Meeting Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Board of Directors (the “Board”) of Gland Pharma Limited (the “Company”), at its meeting held today, i.e., Thursday, October 01, 2026, has, inter-alia, considered and approved: I. Investment of USD 21 million by the Company in Gland Pharma USA Inc. (“Gland USA”), proposed to be a wholly-owned subsidiary of the Company (as informed to the Stock Exchanges on 13th September, 2026). Gland USA proposes to utilize the funds to subscribe to 60% of the equity share capital of Novelstar Pharma Inc. (“Novelstar” and such investment “Novelstar Investment”). The proposed investment is intended to facilitate expansion of the Company’s business in the United States of America. Upon completion of the Novelstar Investment by Gland USA, Novelstar will become a subsidiary of Gland USA and a step-down subsidiary of the Company. The details relating to the investment in Gland USA and Novelstar Investment, as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026, are set out in Annexure A and Annexure B, respectively. II. Mr. Wenjie Zhang (DIN: 10727581), Non-Executive & Non-Independent Director, has tendered resignation to his office as a Director due to his pre-occupations. The resignation was accepted with immediate effect. The details relating to Mr. Wenjie Zhang, as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, along with a copy of his resignation letter with detailed reasons thereof are set out in Annexure C and Annexure D respectively. III. Appointment of Mr. Xingli Wang (DIN: 11899926), as an Additional Director (Non-Executive & Non-Independent Director) of the Company with effect from October 01, 2026. The approval of the members as required under Regulation 17(1C) of Listing Regulations for the aforesaid appointment will be obtained within the stipulated timelines, through a postal ballot and e- voting. Continuation Sheet The details relating to Mr. Xingli Wang, as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are set out in Annexure E enclosed herewith. IV. With reference to the aforesaid changes among the Board of Directors of the Company, the Committees of the Board have been realigned with effect from October 01, 2026 in compliance with the Listing Regulations. The details of all the Committees of the Board as of October 01, 2026 along with changes made are given in Annexure F enclosed herewith. The Board meeting commenced at 15:00 Hrs. IST and was concluded at 15:30 Hrs. IST This is for your information and records. Yours truly, For Gland Pharma Limited Sampath Kumar Pallerlamudi Company Secretary & Compliance Officer Encl: Annexure A to F Continuation Sheet Annexure A Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 SI. No Particulars Remarks 1 Name of the target entity, details in brief Name of the Target: Gland Pharma USA Inc. such as size, turnover etc. (“Gland USA”) Share Capital of the Target before the proposed investment: USD 500,000 Share Capital of the Target after the proposed investment: USD 21,500,000 Turnover of the Target during FY 2025-26: NIL 2 Whether the acquisition would fall within Gland USA, currently a wholly-owned step- related party transaction(s) and whether the down subsidiary of the Company and proposed promoter/ promoter group/ group companies to be a wholly owned subsidiary, is a related have any interest in the entity being party of the Company and accordingly, the acquired? If yes, nature of interest and transaction is a related party transaction and is details thereof and whether the same is done being undertaken at arm’s length. That said, it is at “arm’s length exempt from the approval requirements prescribed under the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 given Regulation 23(5)(b) thereto as the transaction is being undertaken between the Company and its wholly owned subsidiary, whose accounts are consolidated and placed before the shareholders of the Company. Notwithstanding the above, the transaction has received the prior approval of the Audit Committee and the approval of the Board of Directors of the Company. Other than stated above, the promoter/ promoter group/ group companies of the Company do not have any interest in the said transaction. 3 Industry to which the entity being acquired Pharmaceutical Industry belongs Continuation Sheet 4 Objects and impact of acquisition (including The investment of USD 21,000,000 by the but not limited to, disclosure of reasons for Company in Gland USA is being undertaken to acquisition of target entity, if its business is facilitate expansion of the Company’s business outside the main line of business of the listed in the United States of America. Gland USA entity); proposes to utilize the funds to subscribe to 60% of the equity share capital of Novelstar Pharma Inc., a newly incorporated Company in the United States of America, pursuant to which Novelstar Pharma Inc. will become a subsidiary of Gland USA and a step-down subsidiary of the Company. 5 Brief details of any governmental or Not Applicable regulatory approvals required for the acquisition; 6 Indicative time period for completion of the By October 31, 2026 acquisition; 7 Consideration - whether cash consideration Cash Consideration or share swap or any other form and details of the same; 8 Cost of acquisition and/or the price at which Amount of investment: USD 21,000,000 the shares are acquired 9 Percentage of shareholding / control There will be no change in the proposed acquired and / or number of shares acquired percentage of shareholding of the Company in Gland USA, which will continue to be a wholly- owned subsidiary of the Company. 10 Brief background about the entity acquired Background: Gland USA is currently a wholly- in terms of products/line of business owned step-down subsidiary of the Company acquired, date of incorporation, history of and proposed to be subsidiary of the Company last 3 years turnover, country in which the and is in a similar line of business as the acquired entity has presence and any other Company. significant information (in brief); Date of Incorporation: March 07, 2022 Last 3 years’ Turnover: FY26 – NIL FY25 – USD 87,342 FY24 – USD 483,808 Country in which the acquired entity has presence: United States of America Continuation Sheet Annexure B Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 SI. No Particulars Remarks 1 Name of the target entity, details in brief Name of the Target: Novelstar Pharma Inc. such as size, turnover etc. (“Novelstar”) Share Capital of the Target (at incorporation): Share Capital of the Target (post-acquisition): USD 35,000,000 Turnover of the Target: NIL 2 Whether the acquisition would fall within No, the transaction is not a related party related party [Showing first 8,000 characters — download PDF for full document]