Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Date: October 1, 2026 BSE Limited, National Stock Exchange of India Limited, NSE BSE Scrip Code: 544608 Scrip Symbol: EMMVEE Dear Sir/ Ma’am, Subject: Disclosure under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Receipt of Show Cause Notice from Karnataka State GST Department Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the material subsidiary Company (Emmvee Energy Private Limited) (“the Company”) has received a Show Cause Notice dated September 30, 2026 from the Karnataka State GST Department alleging excess availment of Input Tax Credit for the FY 2022-23. The Show Cause Notice proposes a tax demand of ₹20,39,04,267 along with applicable interest and penalty aggregating to ₹38,44,79,651. The Company is of the view that the allegations are not sustainable, as it has availed only the eligible Input Tax Credit of ₹11,51,16,900 as per applicable GST provisions. The Company is in the process of filing an appropriate response before the concerned authority within the prescribed timeline. Based on its preliminary ass essment, the Company is of the view that no interest or penalty is payable under the applicable GST provisions and does not expect any material financial impact arising from the said Show Cause Notice. The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed herewith as Annexure-A. This intimation shall also be available on the website of the Company at https://www.emmveepv.com/investors. This is for your kind information and dissemination. For and on behalf of Emmvee Photovoltaic Power Limited (Formerly known as Emmvee Photovoltaic Power Private Limited) Murugesh C. Company Secretary and Compliance Officer Place: Bengaluru Annexure-A Sl. No. Particulars Information/Remarks 1. Name of the authority Karnataka State GST Department Nature and details of the The material subsidiary Company has received 2. action(s) taken or order(s) passed, a Show Cause Notice from the Karnataka State including penalty imposed GST Department alleging excess availment of Input Tax Credit ("ITC"). The Show Cause Notice proposes recovery of GST amounting to ₹20,39,04,267 together with interest of ₹16,01,84,958 and penalty of ₹2,03,90,427, aggregating to ₹38,44,79,651. 3. Date of receipt of direction or order from Show Cause Notice received on September 30, the authority 2026 4. Details of the violation(s)/ The Show Cause Notice alleges excess claim contravention(s) committed or alleged to of Input Tax Credit in respect of Financial Year be committed and period for which it is 2022-23. applicable 5. Impact on financial, operation or other The Company is of the view that the activities of the listed entity, quantifiable allegations are not sustainable, as it has availed in monetary terms to the extent possible only the eligible Input Tax Credit of ₹11,51,16,900 as per applicable GST provisions. The Company is also of the view that no interest or penalty is payable under the applicable GST provisions. The Company will file its response within the prescribed timeline and pursue appropriate legal remedies. Based on its preliminary assessment, no material financial impact is expected from the Show Cause Notice.