Change in Management

Essar Shipping Limited Essar House 11, K. K. Marg Mahalaxmi Mumbai - 400 034 Maharashtra, India Corporate Identification Number L61200GJ2010PLC060285 T + 91 22 6660 1100 F + 91 22 2354 4312 www.essar.com 03.10.2026 To To The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers 5th Floor, Exchange Plaza BSE Limited Plot No. C/1, G - Block Dalal Street, Fort Bandra-Kurla Complex Mumbai – 400 001 Bandra East Maharashtra, India Mumbai – 400 051 BSE Scrip Code: 533704 Maharashtra, India NSE Code: ESSARSHPNG Dear Sir/Madam, Subject: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to the mandatory provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (LODR/ the Listing Regulations) and the Companies Act, 2013, We, Essar Shipping Limited (the Company), inform that, in the 16th Annual General Meeting held on 30.09.2026 (AGM), the Members inter-alia considered and approved the following: 1. Appointment of a Director in place of Mr. Rajesh Dhirubhai Desai (DIN: 08848625), who retires by rotation in terms of Section 152 of the Companies Act, 2013 and being eligible, offers himself for re-appointment; 2. Disinvestment in Essar Shipping DMCC, U.A.E., overseas Whollyowned Subsidiary, Under Section 180(1)(a) of the Companies Act, 2013; 3. Disinvestment in OGD Services Holdings Limited, Mauritius, overseas Whollyowned Subsidiary Under Section 180(1)(a) of the Companies Act, 2013; 4. Appointment of Mr. Subramanian Raman (DIN: 11920269) as an Independent Director of the Company; 5. Re-appointment of Mr. Suresh Ramamirtham (DIN: 09299459) as an Independent Director of the Company; 6. Sale of Asset - Semisubmersible Rig – Essar Wildcat – owned by Essar Shipping DMCC, U.A.E., (Whollyowned Subsidiary); Essar Shippi ng Limited: STEEL | ENERGY | INFRASTRUCTURE | SERVICES 7. Sale of Asset - Tug III, owned by Essar Shipping Limited; 8. General Related Party Transactions; Further, the detailed disclosure as required under Regulation 30 of the Listing Regulations readwith SEBI Circular No. CIR/ CFD / CMD/ 4/ 2015 dated September 9, 2015 and SEBI Circular No. SEBI/ HO/ CFD/ PoD2/ CIR/ P/ 0155 dated November 11, 2024 are enclosed as Annexure-I, II & III, to this Letter. This is for your information and records. Thanking You ! Yours Sincerely For Essar Shipping Limited Habib Jan Company Secretary & Compliance Officer | A22801 Essar Shippi ng Limited: STEEL | ENERGY | INFRASTRUCTURE | SERVICES Annexure – I Disclosure as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/ CFD / CMD/ 4/ 2015 dated September 9, 2015 and SEBI Circular No. SEBI/ HO/ CFD/ PoD2/ CIR/ P/ 0155 dated November 11, 2024: # Details Required Essar Shipping DMCC, OGD Services Holdings U.A.E., (ESDMCC) Limited, Mauritius 1. The amount and percentage of the Amount of Total Income = Amount of Total Income = turnover or revenue or income and Rs. Nil (0%) Rs. Nil (0%) net worth contributed by such unit or division or undertaking or ESDMCC - Networth= OGDSHL - Networth = subsidiary or associate company of Rs.705.48 Crore Rs. 459.72 Crore the listed entity during the last (Negative) (Negative) financial Year ESDMCC - Networth OGDSHL - Networth contribution (%) = 34.03% contribution (%) = 22.17% 2. Date on which the agreement for Within 1 Year from the Within 1 Year from the sale has been entered into 16th AGM 16th AGM 3. The expected date of completion Within 1 Year from the Within 1 Year from the of sale/disposal 16th AGM 16th AGM 4. Consideration received from such At Fair Market Value At Fair Market Value sale/disposal (FMP), subject to (FMP), subject to valuation valuation report report 5. Brief details of buyers and whether Yes, Group Company Yes, Group Company any of the buyers belong to the (Fellow Subsidiary): (Fellow Subsidiary): promoter/ promoter group/group Essar Investment Holdings Essar Investment Holdings companies. If yes, details thereof Mauritius Limited or any Mauritius Limited or any other Essar group entity other Essar group entity 6. Whether the transaction would fall Yes, at arm’s length price Yes, at arm’s length price within related party transactions? subject to valuation report subject to valuation report If yes, whether the same is done at arm’s length 7. Whether the sale, lease or disposal No No of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations 8. Additionally, in case of a slump NA NA sale, indicative disclosures provided for amalgamation/ merger, shall be disclosed by the listed entity with respect to such slump sale Essar Shippi ng Limited: STEEL | ENERGY | INFRASTRUCTURE | SERVICES Annexure – II Disclosure as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/ CFD /CMD/4/2015 dated September 9, 2015 and SEBI Circular No. SEBI/ HO/ CFD/ PoD2/ CIR/ P/ 0155 dated November 11, 2024: # Particulars Mr. Rajesh Mr. Subramanian Mr. Suresh Dhirubhai Desai Raman Ramamirtham 1. Reason for change viz., Appointment Appointment Appointment appointment; 2. Date of Appointment 30.09.2026 01.09.2026 01.09.2026 3. Brief Profile Mr. Rajesh Desai is Mr. Subramanian Mr. Suresh Ramamirtham (in case of appointment) a commerce Raman holds a Degree worked with Essar Group in Bachelor of Arts, Graduate from of companies for 40 Years from Madras University. Mumbai University in: Oil, Ports, and He has extensive holding 38 Years of experience spanning Shipping, Constructions diverse experience over 40 Years in dealing and Solar business. His in accounts and with secretarial matters, areas of expertise finance of which 34 compliances, merger & included: Marketing, amalgamation and Years is with Essar Operations, HR, and handing investor Group. He has also Finance. Mr. Suresh relationships. He has worked with Bharat Ramamirtham is an MBA handled many overseas Surgicals Company and domestic merger & and has various and Essar Bulk acquisitions and certification in oil and Carriers Ltd. demerger activities Shipping fields including while in service. He is from Essar Oil as a an avid performer of Petroleum Trader and Classical Carnatic IOC trained LPG courses. Music and devoting his time in contributing to society at large. He retired as Joint-General Manager, from Essar, in 2018. 4. Disclosure of Not Applicable Not Applicable Not Applicable relationship between Directors (in case of appointment) Essar Shippi ng Limited: STEEL | ENERGY | INFRASTRUCTURE | SERVICES Annexure-III # Details Required Essar Wildcat Tug- III 1. The amount and percentage of the turnover or NA NA revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial Year 2. Date on which the agreement for sale has been Within 1 Year from Within 1 Year from the entered into the 16th AGM 16th AGM 3. Expected date of completion of sale/disposal Within 1 Year from Within 1 Year from the the 16th AGM 16th AGM 4. Consideration received from such sale/disposal At Fair Market Value At Fair Market Value (FMP), subject to (FMP), subject to valuation report valuation report 5. Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/ To be decided To be decided group companies. If yes, details thereof 6. Whether the transaction would fall within related Not a related party Not a related party party transactions? If yes, whether the same is done at arm’s length 7. Whether the sale, lease or disposal of the No No undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations 8. Additionally, in case of a slump sale, indicative NA NA disclosures [Showing first 8,000 characters — download PDF for full document]