General Updates

MITCON/Secretarial/2026-27/30 October 07, 2026 Listing Department, National Stock Exchange India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai-400051 NSE SYMBOL: MITCON Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Schedule III to the said Regulations, we wish to inform you that MITCON Sun Power Limited, a wholly owned material subsidiary of the Company has today i.e. on October 07, 2026 executed Share Purchase Agreement for purchase of 12,04,999 Equity Shares of Rs. 10 each of MITCON Solar Alliance Limited from its existing Shareholders at an aggregate consideration of Rs. 2,40,49,990/- (Rupees Two Crores Forty Lakhs Forty-Nine Thousand Nine Hundred and Ninety only). The proposed acquisition will result in increase in the shareholding of MITCON Sun Power Limited from 47.28% to 74% in MITCON Solar Alliance Limited. Accordingly post aforesaid acquisition, MITCON Solar Alliance Limited will become subsidiary of MITCON Sun Power Limited and Step-down Subsidiary of the Company. The disclosures pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Para A of Part A of Schedule III of the aforesaid regulations are mentioned in below table: 1. Name of the target entity, details in Name: MITCON Solar Alliance Limited brief such as size, turnover etc.; Authorized Share Capital – Rs. 10,00,00,000 Paid-up Share Capital – Rs. 9,51,00,000 Turnover for the year ended March 31, 2026 – Rs. 6,70,39,000 2. a) Whether the acquisition would fall No within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” 3. Industry to which the entity being Solar Power Generation acquired belongs 4. a) Objects and impact of acquisition The proposed acquisition will result in increase in Shareholding of MITCON Sun Power Limited (including but not limited to, in the target entity from 47.28% to 74% making the target entity a subsidiary of MITCON Sun disclosure of reasons for acquisition Power Limited and Step down subsidiary of the Company. of target entity, if its business is outside the main line of business of the listed entity) 5. b ) Brief details of any governmental or None regulatory approvals required for the acquisition 6. c ) Indicative time period for completion Within 60 days, subject to compliance of Conditions Precedent by the Parties to Share Purchase of the acquisition Agreement dated October 07, 2026. 7. d ) Consideration - whether cash Cash consideration or share swap or any other form and details of the same 8. e ) Cost of acquisition and/or the price at 12,04,999 Equity shares of the Target entity will be acquired at an aggregate consideration of Rs. which the shares are acquired 2,40,49,990 (Rupees Two Crores Forty Lakhs Forty Nine Thousand Nine Hundred Ninety only) 9. f) Percentage of shareholding / control Present transaction involves acquisition of 26.72% stake. Pursuant to acquisition the holding acquired and / or number of shares of MITCON Sun Power Limited in MITCON Solar Alliance Limited will increase to 74% acquired 10. g ) Brief background about the entity The Target Company was established on 15th May, 2018. acquired in terms of products/line of business acquired, date of The Target company focuses on generating, transmitting, dealing, trading, and distributing energy incorporation, history of last 3 years from various sources including solar energy, wind energy, hydro power and biomass and to turnover, country in which the manufacture, process, buy, sell, exchange, alter, improve, import or export or otherwise deal in all acquired entity has presence and any types of renewable energy generation equipments, energy saving devices, solar energy products, other significant information (in brief) gadgets and components and to sell, trade or otherwise deal in energy, carbon credits and other energy and recyclable products including energy storage and distribution of products and services. The turnover of the Target Company for last 3 years is as follows: 1. Year ended March 31, 2026 – Rs. 6,70,39,000 2. Year ended March 31, 2025 – Rs. 3,31,80,000 3. Year ended March 31, 2024 – Rs. 3,66,56,000 The Target Company has presence in India only. This is for your information. Kindly take the same on record. Thanking You. Yours faithfully, For MITCON Consultancy & Engineering Services Limited Ms. Ankita Agarwal Company Secretary and Head of Compliance & Legal