Outcome of the Board Meeting held on October 13, 2026

October 13, 2026 To To Corporate Relationship Department Listing Department BSE Limited National Stock Exchange of India Ltd. Department of Corporate Services, Exchange Plaza, 5th Floor, G-Block, P. J. Towers, Dalal Street, Fort, Bandra Kurla Complex, Bandra East, Mumbai – 400 001 Mumbai - 400 051 Scrip Code: 532543 Scrip Symbol: GULFPETRO Dear Sir/ Madam, Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015 - Outcome of the Board Meeting Time of Commencement of the Board Meeting : 12:45 P.M. Time of Conclusion of the Board Meeting : 01:40 P.M. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), we wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e. October 13, 2026, inter alia, has considered and approved the following: - 1. Acquisition of equity shares (“Sale Shares”) of Incubit Pipavav Terminal Private Limited (formerly known as Gulf Petrochem (India) Private Limited) (“IPTPL” / “Target Company”) from some of its existing shareholders (“Selling Shareholders”), for an aggregate consideration of INR 44,26,97,141 (Indian Rupees Forty-Four Crores Twenty Six Lakhs Ninety-Seven Thousand One Hundred and Forty One only), subject to any change in valuation of the shares of IPTPL, which may be acquired in multiple tranches over a period of one year from internal reserves of the Company. The proposed acquisition is being undertaken as a strategic investment to strengthen the Company’s strategic and operational presence at Pipavav and to leverage potential synergies through access to IPTPL’s tank storage/rental space, terminal facilities and related infrastructure. The details for the same is enumerated as Annexure – A. 2. Authority to execute the Share Purchase Agreement (“SPA”) with the Selling Shareholders and IPTPL, and the Shareholders’ Agreement (“SHA”) with IPTPL and its shareholders, on the terms and conditions agreed between the parties and in compliance with applicable laws and regulations, with the SHA governing the rights of the Company and the other shareholders vis- à-vis IPTPL. 3. Resignation of Mr. Arjun Verma from the position of Chief Financial Officer (CFO) of the Company w.e.f. October 15, 2026, while continuing to serve as the Whole Time Director (Designated as Executive Director (ED)) and Key Managerial Personnel of the Company. The details for the same is enumerated in Annexure – B and a copy of the resignation letter submitted by Mr. Arjun Verma is enclosed as Annexure - B1; and 4. Appointment of Mr. Shirish Suvagia as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company with effect from October 15, 2026, as recommended by the Audit Committee and the Nomination and Remuneration Committee. The details for the same is enumerated in Annexure – C. 5. In terms of Regulation 30(5) of the SEBI LODR Regulations, please find below the updated list of Key Managerial Personnels authorised to determine the materiality of events/information and to make necessary disclosures to the Stock Exchanges: Sr. No. Name and Designation Contact details 1 Mr. Ayush Goel Address: 804, 8th Floor, Chairman & Managing Director Ackruti Star, MIDC Central 2 Mr. Arjun Verma Road, MIDC, Andheri (East), Executive Director Mumbai – 400093 3 Mr. Shirish Suvagia (w.e.f. October 15, 2026) Email: cs.gppl@gpglobal.com Chief Financial Officer Tel: 022-61482500 4 Mrs. Kanika Sehgal Sadana Company Secretary & Compliance Officer The detailed disclosures relating to the proposed items as required under Regulation 30 of the SEBI LODR Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, as amended and consolidated in the SEBI Master Circular for compliance with the provisions of the SEBI LODR Regulations dated January 30, 2026, are provided herein. We request you to kindly take the same on your record. Thanking You, Yours faithfully, For GP PETROLEUMS LIMITED KANIKA SEHGAL SADANA COMPANY SECRETARY AND COMPLIANCE OFFICER ACS:31466 Annexure – A STRATEGIC INVESTMENT IN INCUBIT PIPAVAV TERMINAL PRIVATE LIMITED UPTO RS. 50 CR. Sr. Particulars Details 1 Name of the target entity, details in Incubit Pipavav Terminal Private Limited (formerly brief such as size, turnover etc.; known as Gulf Petrochem (India) Private Limited) (“IPTPL” / “Target Company”). CIN: U11200GJ2011PTC108639. IPTPL is engaged in the business of storing and handling bulk petroleum and other liquid products and operating a bulk liquid storage terminal at Pipavav Port, Gujarat. Turnover: FY 2025-26 – INR 38.48 Crore; FY 2024-25 – INR 25.32 Crore; FY 2023-24 – INR 37.20 Crore. 2 Whether the acquisition would fall No acquisition of Sale Shares constitutes within related party transaction(s) a related party transaction under the Companies Act, and whether the promoter/ promoter 2013. does not group/ group companies have any interest in the entity being acquired? If The proposed acquisition of Sale Shares yes, nature of interest and details from Mrs. Anita Goyal constitutes a Related thereof and whether the same is done Party Transaction under the applicable provisions at “arm’s length”; of the SEBI LODR Regulations, as Mrs. Anita Goyal is a part of the promoter group of the Company and is accordingly a related party. The transaction is proposed to be undertaken on an arm’s length basis and is supported by an 3 Industry to which the entity being iPnodret pLeongdiesntitc sv a/lu Batuiolkn Lreiqpuoirdt . Storage Infrastructure acquired belongs: and Terminal Operations. 4 objects and impact of acquisition The proposed acquisition is being undertaken as a (including but not limited to, strategic investment to strengthen the Company’s disclosure of reasons for acquisition strategic and operational presence at Pipavav and to of target entity, if its business is leverage potential synergies through access to IPTPL’s outside the main line of business of tank storage/rental space, terminal facilities and the listed entity); related infrastructure. 5 Brief details of any governmental or The proposed acquisition is subject to fulfilment or regulatory approvals required for the waiver, as applicable, of the conditions precedent acquisition; under the SPA and receipt of such statutory, regulatory, corporate and third-party approvals / consents as may be applicable, including applicable filings and compliances under the Foreign Exchange Management Act, 1999 and rules and regulations made thereunder, where applicable. 6 Indicative time period for completion The acquisition is expected to be completed over time of the acquisition; from the date of execution of the SPA, in multiple tranches, subject to fulfilment or waiver, as applicable, of the conditions precedent under the SPA and completion of other applicable closing requirements. 7 Consideration -whether cash Cash consideration, the sale shares may be acquired in consideration or share swap or any multiple tranches for an aggregate consideration of other form and details of the same; approximately INR 44,26,97,141 (Indian Rupees Forty-Four Crores Twenty Six Lakhs Ninety-Seven Thousand One Hundred and Forty One only), subject to any change in valuation of the shares of IPTPL, over time, from internal reserves. 8 Cost of acquisition and/or the price at Aggregate consideration of approximately INR which the shares are acquired; 44,26,97,141 (Indian Rupees Forty-Four Crores Twenty Six Lakhs Ninety-Seven Thousand One Hundred and Forty One only), payable to the respective Selling Shareholders in accordance with the terms of the SPA at a price per sale share of INR 10.80 (Indian Rupees Ten point Eighty Paise), subject to any change in valuation of the shares of IPTPL. 9 percentage of shareholding / control The Company proposes to acquire equity shares of acquired and / or number of shares IPTPL, repres [Showing first 8,000 characters — download PDF for full document]