Press Release

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: Press Release Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Press Release titled “GP Petroleums Board approves ₹44.27 Crores minority Investment with Management Control in Incubit Pipavav Terminal Private Limited”. The proposed transaction marks entry into logistics infrastructure, strengthening supply-chain resilience and creating a platform for growth. You are requested to kindly take the above information on record. Thanking you, Yours’ Sincerely, For GP Petroleums Limited Kanika Sehgal Sadana Company Secretary and Compliance Officer ACS:31466 GP Petroleums’ Board approves ₹44.27 Crores minority Investment with Management Control in Incubit Pipavav Terminal Private Limited Proposed transaction marks entry into logistics infrastructure, strengthening supply-chain resilience and creating a platform for growth Mumbai, 13 October 2026: GP Petroleums Limited (GPPL) today announced that its Board has approved a proposed investment of approximately ₹44.27 Crores in Incubit Pipavav Terminal Private Limited (IPTPL). The transaction combines a minority equity stake with management control, effective in accordance with the definitive agreements and applicable closing conditions. The investment marks GPPL’s foray into India’s liquid-storage and terminal logistics sector, broadening its business beyond lubricants into strategic infrastructure. IPTPL’s terminal at Pipavav Port, Gujarat, provides a platform to strengthen supply-chain security and develop storage and handling revenues alongside GPPL’s existing operations. GPPL intends to explore stronger connectivity between the terminal and hinterland markets, evaluate expansion opportunities at Pipavav and consider further opportunities in the logistics infrastructure sector. Mr. Ayush Goel, Chairman & Managing Director, GP Petroleums Limited, said: “We see Pipavav as the first step towards building a broader logistics infrastructure business alongside our core lubricants operations. Securing management control through a minority investment gives us a platform to connect port infrastructure with hinterland demand and participate in India’s growth. Our aim is to develop recurring storage and terminal income that strengthens the resilience of our cash flows over time. We will evaluate expansion and other opportunities with a focus on disciplined investment and long-term value creation.” The shares will be acquired from existing IPTPL shareholders, potentially in multiple tranches over one year, funded through GPPL’s internal reserves. Final consideration remains subject to changes in IPTPL’s share valuation. Completion is subject to the fulfilment or waiver, as applicable, of conditions precedent and relevant statutory and regulatory requirements. About GP Petroleums Limited GP Petroleums Limited is a publicly listed manufacturer and marketer of industrial and automotive lubricants, process oils, greases and specialty products under the IPOL brand, with over five decades of industry presence. Media contact Varsha Arolla Sudhir Shetty 9833001220 9820140097 varsha.arolla@gpglobal.com sudhir@resolvocom.in