Press Release

Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 Date: 30 June 2026 Corporate Relationship Department, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No.C/1, G Block Dalal Street, Fort, Bandra Kurla Complex, Bandra (E) Mumbai-400 001 Mumbai-400 051 Stock Code: NSE: SHILPAMED/BSE-530549 Dear Sir/Madam, Sub: Shilpa Biologicals Pvt Ltd, a wholly owned subsidiary of Shilpa Medicare enters into a Co-development and supply agreement with Orion Corporation (“Orion”), Finland Ref: Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 ("SEBI Listing Regulations") Pursuant to Regulation 30 read with other applicable provisions of the SEBI Listing Regulations, we wish to inform that Shilpa Biologicals Private Limited (SBPL), a wholly owned subsidiary of Shilpa Medicare Limited ('Company'), has entered into Co-development and supply agreement with Orion Corporation (“Orion”) a globally recognized pharmaceutical company headquartered in Finland. Details with respect to the above-mentioned event as required under Regulation 30 of Schedule Ill of the SEBI Listing Regulations and SEBI Circular dated 30th January 2026 are provided in Annexure I to this letter. A press release to be issued in relation to the above matter is enclosed for reference. This is for your information and records. For SHILPA MEDICARE LIMITED Ritu Tiwary Company Secretary & Compliance Officer Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 Annexure I Sl. Particulars Remarks 1. Name of the entity Orion Corporation, a Finland Company 2. Area of agreement To co-develop and supply with Orion Corporation for intravenous(IV) Nivolumab biosimilar, one of the world’s most widely used cancer immunotherapies. 3. Whether the Order/Contract has been awarded by International entity domestic/international entity 4. Share exchange ratio/ JV ratio Not Applicable 5. agreement Shilpa will co-develop, manufacture and exclusively supply the intravenous Nivolumab biosimilar for the Scope of business operation of European market. Orion Corporation will have exclusive rights to register, market, distribute and sell the product across Europe. The agreement combines Shilpa's manufacturing capabilities with Orion's commercial and regulatory expertise. 6 in agreement Confidential Details of consideration paid/ received 7. Significant terms and conditions of the Under this agreement, Orion will hold the exclusive right Order/Contract awarded in brief to register, market, distribute and sell the nivolumab biosimilar across Europe, and will act as the Marketing Authorization holder in the territory. Shilpa Biologicals will lead product development and serve as the exclusive long-term commercial manufacturer and supplier for the European market from its advanced biologics facility in Dharwad, India. Shilpa is entitled to receive from Orion certain development and regulatory milestone payments, in addition to supply revenue over the life of the partnership. 8. Whether the acquisition would fall within related party Orion Corporation is not a related party to the transactions and whether the promoter/ promoter Company or SBPL or promoter/ promoter group/ group/ group companies have any interest in the entity group companies. being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length 9. Size of the Entity Not Applicable 10. Rationale and benefit expected This partnership aims to leverage the loss of exclusivity of the originator nivolumab to increase patient access to a high-quality, EU-GMP-manufactured biosimilar across Europe. Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 Press Release Orion and Shilpa Medicare Expand Partnership to Develop and Supply Nivolumab Biosimilar for Europe Building on their successful partnership, the companies turn to one of immuno-oncology’s most important medicines. AT A GLANCE ▪ Nivolumab targets a blockbuster PD-1 immunotherapy market of ~USD4.1 billion. ▪ Shilpa Biologicals to lead development and long-term commercial supply from its biologic’s facility in Dharwad, India; Orion to drive exclusive commercialisation across Europe. ▪ Aims to widen patient access to advanced immuno-oncology therapy while easing pressure on healthcare budgets. Dharwad, India –30th June 2026 — Shilpa Medicare Limited (BSE: 530549 | NSE: SHILPAMED) today announced that its wholly owned subsidiary, Shilpa Biologicals Private Limited (“Shilpa Biologicals”), has entered into a co- development and supply agreement with Orion Corporation for intravenous(IV) nivolumab biosimilar referencing one of the world’s most widely used cancer immunotherapies — bringing two companies together to widen patient access across Europe. Nivolumab helped usher in the era of immuno-oncology, transforming the outlook for patients across cancers such as melanoma and lung cancer. As the originator approaches loss of exclusivity in Europe, this partnership aims to put a high-quality, EU-GMP-manufactured nivolumab biosimilar within reach of more patients — and to help health systems stretch every euro of their oncology budgets further. In 2025, Nivolumab recorded sales of approximately USD4.1 billion (Source: IQVIA/IMS) Europe — underscoring the scale of the opportunity that high-quality biosimilars can unlock for patients and healthcare systems across the region. Under the agreement, Orion will hold the exclusive right to register, market, distribute and sell the nivolumab biosimilar across Europe, and will act as the Marketing Authorisation holder in the territory. Shilpa Biologicals will lead product development and serve as the exclusive long-term commercial manufacturer and supplier for the European market from its advanced biologics facility in Dharwad, India. Shilpa is entitled to receive from Orion certain development and regulatory milestone payments, in addition to supply revenue over the life of the partnership. Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 The deal marks another chapter in a fast-growing relationship. It follows the partners’ earlier collaboration to bring Shilpa’s Recombinant Human Albumin to Europe — and pairs Shilpa’s end-to-end biologics development and manufacturing engine with Orion’s deep European commercial reach, regulatory expertise and well- established distribution network. “Extending our partnership with Orion into immuno-oncology is a defining moment for Shilpa Biologicals,” added Vishnukant Bhutada, Managing Director, Shilpa Medicare. “It reflects the trust our partners place in our quality, our science and our ability to deliver complex biologics at scale — and it moves us closer to our mission of making advanced medicines affordable and accessible worldwide.” “We are pleased to add yet another product to our strategic partnership with Shilpa,” said Satu Ahomäki, EVP Generics and Consumer Health, Orion Pharma. “This agreement is a step forward in our efforts to expand and strengthen our operations in hospital segment in Continental Europe, and an indication of the progress of the implementation of our division’s strategy which aims to create everybody an access to afford [Showing first 8,000 characters — download PDF for full document]