Memorandum of Understanding/Agreements

Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO Ref No: PVSL/SEC/57/2026-27 Date: 05th October, 2026 To, To, BSE Limited (“BSE”), National Stock Exchange of India Limited Corporate Relationship Department, (“NSE”), 2nd Floor, New Trading Ring, Exchange Plaza, Plot No. C-1, P.J. Towers, Dalal Street, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 544144 NSE Code: PVSL ISIN: INE772T01024 ISIN: INE772T01024 Sub: Intimation under Regulation 30 and Regulation 30A read with Clauses 5 and 5A of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Intimation of Execution of Family Arrangement / Settlement Agreement amongst Promoters and Promoter Group Dear Sir / Madam, Pursuant to Regulation 30 and Regulation 30A read with Clauses 5 and 5A of Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI LODR Regulations"), read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, this is to inform you that the Company has received a communication/letter dated October 05, 2026, from the Promoters and members of the Promoter Group of the Company, namely Mr. John K. Paul, Mr. Francis K. Paul, Mr. Naveen Philip, Mrs. Susan Francis (Spouse of Mr. Francis K. Paul) and Mrs. Shalet John (Spouse of Mr. John K. Paul) (acting for themselves and on behalf of their respective family branches/entities), informing the Company about the execution of a Memorandum Recording Family Arrangement ("Family Settlement Agreement" / "Agreement") dated October 01, 2026. The Company is not a party to the said Family Settlement Agreement. The agreement has been entered into inter-se amongst the members of the Promoter and Promoter Group to realign/settle the ownership, management, and voting rights in various group entities and properties, including the shareholding held in Popular Vehicles and Services Limited ("PVSL" / "Company"), and its subsidiaries. Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO The requisite details as required under Regulation 30 and Regulation 30A read with Schedule III of the SEBI LODR Regulations and the aforementioned SEBI Circulars are enclosed herewith as Annexure - A. Kindly take the above information on record. Thanking you, Yours faithfully, For Popular Vehicles and Services Limited Varun T.V. Company Secretary and Compliance Officer Mem. No.: A22044 Encl.: 1. Annexure – A 2. Copy of intimation received from the promoters. Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO ANNEXURE - A Disclosures required under Regulation 30 and Regulation 30A read with Clauses 5 and 5A of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. a) If the listed entity is a party Not Applicable to the agreement, details of counterparties Listed Entity Popular Vehicles and Services Limited (including name and (PVSL) is not a party to this agreement. relationship with the listed entity): b) If the listed entity is not a party to the agreement: i. Name of the parties Holding entering into such in the Relationship with the agreement and their Name Listed Listed entity relationship with the Entity listed entity: (%) Promoter and Whole Mr. John K. Paul 20.39 Time Director Mr. Francis K. Promoter 20.39 Paul Mr. Naveen Promoter and 20.41 Philip Managing Director Relative of Promoter ( Mrs. Susan Spouse of Mr. Francis 0 Francis K. Paul) Relative of Promoter ( Mrs. Shalet John Spouse of Mr. John K. 0 Paul) Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO ii. Details of None other than mentioned in (i) above counterparties to the agreement (including name and relationship with the listed entity): iii. Date of entering into the agreement: October 01, 2026 c) Purpose of entering into Over time, the family members have developed the agreement: distinct visions and strategic aspirations for the growth and governance of the family businesses and properties. To preserve family unity, mutual respect, and long-term goodwill, and to give each members the freedom to pursue their own goals, the family has amicably agreed upon this settlement arrangement. Outgoing Promoter is Mr. John K. Paul and continuing Promoters are Mr. Francis K. Paul and Mr. Naveen Philip. d) Shareholding, if any, in the The Company is not a party to this agreement entity with whom the agreement is executed: e) Significant terms of the agreement (in brief): 1. Realignment of The outgoing promoter shall transfer his holding in the Shareholding: listed entity to both the continuing promoters in multiple tranches on or before 31st December, 2029 as per the family agreement. 2. Management & Operational Control: The continuing promoters shall be entitled to ownership and control of the listed Entity including all its subsidiaries apart from LLPs and trusts. The continuing promoters will resign from their respective directorships in the remaining companies and transfer shares as per the family arrangement. Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO The outgoing promoter shall be entitled to specific partnerships, educational trusts, and companies forming part of the family business. 3. Board Representation: The outgoing promoter will resign from the listed entity and its subsidiaries and other companies taken over by the continuing promoters as per the family arrangement. 4. Brand Usage: The trade name “Kuttukaran” and “Popular” shall be continued to be used by family members. The present logo of Listed entity shall not be transferred even in the event the family transfers this business to any other person. 5. Non-Compete & Outgoing promoter shall not enter into any competing Standstill: business of the same franchise which is operated by the existing entities in the same place of business. f) Extent and nature of Management and control of the listed entity shall impact on management or continue to vest in the Promoters Mr. Francis K. Paul control of the listed entity: and Mr. Naveen Philip who together will continue as the family. Mr. John K. Paul will relinquish the Directorship in the entity and in subsidiaries. He will transfer his shareholding in a phased manner to the remaining promoters. However, the outgoing promoter shall cast his vote in favour of the family decision. g) Details and quantification PVSL and its subsidiaries are not party to the family of the restriction or liability [Showing first 8,000 characters — download PDF for full document]