Outcome of Board Meeting held on October 12, 2026

mal,indra SML Mahindra Limited Trucks & Buses Regd. Office & Works: Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr) Punjab – 144533 Tel +91 1881 270155 SML/SEC/2026-27- 060 12th October, 2026 Dy. General Manager- The Secretary, Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, PJ Towers, Plot no. C/1, G Block, Dalal Street, Fort, Bandra Kurla Complex, Mumbai- 400001 Bandra (E), Mumbai-400051 Scrip Code: 505192 Scrip Code: SMLMAH Dear Sirs, Sub: Outcome of the Board Meeting held on 12th October, 2026 : Intimation under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) - Change in Key Managerial Personnel & Senior Management Personnel of the Company Pursuant to Regulation 30 read with Para A(7) of Part A of Schedule III and other applicable provisions of the SEBI Listing Regulations, we hereby inform you that the Board of Directors of the Company has at its meeting held today i.e. on Monday, the 12th October, 2026, basis the recommendation of the Nomination and Remuneration Committee and the Audit Committee, noted / approved the following changes in the Key Managerial Personnel of the Company viz. the Chief Financial Officer of the Company:- 1. Took note of the cessation of Mr. Pushkar Patwardhan as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from close of 19th October, 2026, who has decided to pursue his professional interests outside the Mahindra group. 2. Appointment of Ms. Manaswini Goel as the Chief Financial Officer and Key Managerial Personnel of the Company, designated as Interim Chief Financial Officer, for a period from 20th October, 2026 to 31st December, 2026. 3. Appointment of Mr. Surender Kalra as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from 1st January, 2027; Further, the Board of Directors of the Company, basis the recommendation of the Nomination and Remuneration Committee, also considered and approved the appointment of Mr. Ashudeep Saddi as Chief Human Resources Officer (CHRO) and Senior Management Personnel of the Company effective 19th October, 2026. SML Mahindra Limited (Formerly SML Isuzu Limited) Corporate Office: 1st Floor, T-7 Tech Park, C-119, Industrial Area Phase-7, SAS Nagar (Mohali) – 160055 (Punjab), Telephone 0172 - 2647700-02 CIN No. L50101PB1983PLC005516 Website: www.smlmahindra.com mal,indra SML Mahindra Limited Trucks & Buses Regd. Office & Works: Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr) Punjab – 144533 Tel +91 1881 270155 Details with respect to the above changes as required under Regulation 30(6) read with Para A(7) of Part A of Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026 are provided in Annexure I. The letter received from Mr. Pushkar Patwardhan in this regard is enclosed as Annexure II. The Meeting of the Board of Directors of the Company commenced at 04:25 P.M. and concluded at 04:36 P.M. This intimation is also being uploaded on the website of the Company and can be accessed at the weblink http:// smlmahindra.com Yours faithfully, For SML Mahindra Limited (Formerly SML Isuzu Limited) (PARVESH MADAN) Company Secretary & Compliance Officer madan.parvesh@smlmahindra.com ACS-31266 Enclosures: As above SML Mahindra Limited (Formerly SML Isuzu Limited) Corporate Office: 1st Floor, T-7 Tech Park, C-119, Industrial Area Phase-7, SAS Nagar (Mohali) – 160055 (Punjab), Telephone 0172 - 2647700-02 CIN No. L50101PB1983PLC005516 Website: www.smlmahindra.com mal,indra SML Mahindra Limited Trucks & Buses Regd. Office & Works: Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr) Punjab – 144533 Tel +91 1881 270155 Annexure I 1. Cessation of Mr. Pushkar Patwardhan S.No. Details of events that needs to be Information of such events(s) provided 1. Reason for change viz. Pursuant to the recommendation of the appointment, resignation, Nomination and Remuneration Committee and removal, death or Audit Committee, the Board of Directors of the otherwise Company has at its Meeting held today viz. 12th October, 2026, noted and accepted the resignation of Mr. Pushkar Patwardhan as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from the close of 19th October, 2026. Mr. Pushkar Patwardhan has decided to pursue a career opportunity outside the Mahindra Group. 2. Date of appointment/cessation Effective date of cessation: (as applicable) and term of With effect from the close of 19th October, 2026. appointment 3. Brief Profile (in case of appointment) Not Applicable 4. Disclosure of relationships between Not Applicable directors (in case of appointment of a director) 5. Information as required pursuant to Not Applicable BSE Circular with ref. no. LIST/COMP/14/2018-19 and the National Stock Exchange of India Limited Circular with ref. no. NSE/CML/2018/ 24, both dated 20th June 2018. SML Mahindra Limited (Formerly SML Isuzu Limited) Corporate Office: 1st Floor, T-7 Tech Park, C-119, Industrial Area Phase-7, SAS Nagar (Mohali) – 160055 (Punjab), Telephone 0172 - 2647700-02 CIN No. L50101PB1983PLC005516 Website: www.smlmahindra.com mal,indra SML Mahindra Limited Trucks & Buses Regd. Office & Works: Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr) Punjab – 144533 Tel +91 1881 270155 2. Appointment of Ms. Manaswini Goel and Mr. Surender Kalra S.No. Details of events that Appointment of Interim CFO Appointment of CFO needs to be provided 1. Reason for change viz. Pursuant to the Pursuant to the appointment, recommendation of the recommendation of the resignation, Nomination and Nomination and removal, death or Remuneration Committee Remuneration Committee otherwise and Audit Committee, the and Audit Committee, the Board of Directors of the Board of Directors of the Company has at its Meeting Company has at its Meeting held today viz. Monday, the held today viz. Monday, the 12th October, 2026, 12th October, 2026, considered and approved the considered and approved the appointment of appointment of Mr. Surender Ms. Manaswini Goel as the Kalra as the Chief Financial Chief Financial Officer and Officer and Key Managerial Key Managerial Personnel of Personnel of the Company the Company, designated as with effect from Interim Chief Financial Officer, 1st January, 2027. for the period from 20th October, 2026 to 31st December, 2026. 2. Date of Date of appointment: Date of appointment: appointment/cessation with effect from with effect from (as applicable) and 20th October, 2026 1st January, 2027. term of appointment Term : for the period from 20th October, 2026 to Term : Full time 31st December, 2026. 3. Brief Profile (in case of Ms. Manaswini Goel is the Mr. Surender Kalra is a appointment) Chief Financial Officer for the Chartered Accountant and Aerospace, Advanced brings over three decades of Technologies, and Trucks & experience across finance, Buses businesses at governance, business Mahindra Group. In this role, planning, and transformation. she drives capital efficiency, He has been associated with strategic financial planning, the Swaraj business for nearly business performance, and 30 years, having joined SML Mahindra Limited (Formerly SML Isuzu Limited) Corporate Office: 1st Floor, T-7 Tech Park, C-119, Industrial Area Phase-7, SAS Nagar (Mohali) – 160055 (Punjab), Telephone 0172 - 2647700-02 CIN No. L50101PB1983PLC005516 Website: www.smlmahindra.com mal,indra SML Mahindra Limited Trucks & Buses Regd. Office & Works: Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr) Punjab – 144533 Tel +91 1881 270155 S.No. Details of events that Appointment of Interim CFO Appointment of CFO needs to be provided value creation. She also erstwhile Punjab Tractors Ltd. played a key role in Mahindra in 1996 and continuing with & Ma [Showing first 8,000 characters — download PDF for full document]