Proposed GST Demand on First Games reduced; Assessing Solutions under relevant provisions; No incremental impact on the Company.

October 13, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services The Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 543396 Symbol: PAYTM Sub.: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Proposed GST Demand on First Games Reduced; Assessing Solutions Under Relevant Provisions; No Incremental Impact on the Company Dear Sir / Ma’am, This is in furtherance to our earlier disclosure dated May 27, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), in relation to the notices and the decision of the Hon'ble Supreme Court of India upholding 28% GST on the online gaming companies. The said disclosure was made in reference to First Games Technology Private Limited (“FGTPL”), a subsidiary of One 97 Communications Limited (the “Company”). As previously disclosed, FGTPL had received a Show Cause Notice from the GST department on April 28, 2025 (“SCN”) with proposed GST liability of INR 5,712 crores with applicable interest and penalties payable separately, for the period from April 2018 to March 2023. FGTPL informed the Company on October 12, 2026 at 11:21pm (IST) that it has received a demand order against the said SCN whereby the Additional Commissioner of CGST Noida, Uttar Pradesh (‘the Authority’) has reduced the GST liability from INR 5,712 crore proposed in the SCN to INR 703.66 crore (Indian Rupees Seven Hundred Three Crore and Sixty Six Lakh) towards tax for the period from April 2018 to March 2023, with applicable penalty equivalent to the tax liability along with applicable interest. FGTPL is evaluating the appropriate course forward in accordance with relevant statutory provisions. As detailed below, there is no incremental financial impact on the Company arising from this order. For group consolidation purposes under applicable accounting standards, FGTPL is considered a joint venture. Accordingly, its revenues are not consolidated in the Company’s financial statements, and the Company’s share of profit or loss under the equity method is nil in its consolidated profit and loss account for the financial year ended March 31, 2026. FGTPL discontinued its real-money gaming operations pursuant to the Promotion and Regulation of Online Gaming Act, 2025, and its financial statements for the year ended March 31, 2026 were already prepared on liquidation basis. The carrying value of investment in FGTPL in the consolidated financial statements of Company as on March 31, 2026 is already nil. The details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are given in Form - A. One 97 Communications Limited Corporate Office - One Skymark, Tower-D, Plot No. H-10B, Sector-98, Noida-201304 compliance.officer@paytm.com T: +91120 4770770 F: +91120 4770771 CIN: L72200DL2000PLC108985 www.paytm.com Registered Office - 136, First Floor, Devika Tower, Nehru Place, New Delhi-110019 Also, in respect of the captioned matter, I, the undersigned, state and declare that the information and details provided in Form A, in compliance with Regulation 30(13) of the SEBI Listing Regulations, is true, correct and complete to the best of my knowledge and belief. This disclosure will also be hosted on the Company's website viz. https://ir.paytm.com/. Kindly take the same on record. Thanking you, Yours Sincerely, For One 97 Communications Limited Sunil Kumar Bansal Company Secretary and Compliance Officer FCS 4810 One 97 Communications Limited Corporate Office - One Skymark, Tower-D, Plot No. H-10B, Sector-98, Noida-201304 compliance.officer@paytm.com T: +91120 4770770 F: +91120 4770771 CIN: L72200DL2000PLC108985 www.paytm.com Registered Office - 136, First Floor, Devika Tower, Nehru Place, New Delhi-110019 Form A S. No. Particulars Details 1. Name of the Listed Company One 97 Communications Limited 2. Type of communication received Demand order for a GST liability received by First Games Technology Private Limited (“FGTPL”), a subsidiary of the Company. 3. Date of receipt of communication October 12, 2026, 7.37 p.m. (IST) 4. Authority from whom The Additional Commissioner of CGST Noida, Uttar Pradesh. communication received 5. Brief summary of the material Demand order under Section 74(9) of the Central Goods and contents of the communication Services Tax Act, 2017 and corresponding analogous received, including reasons for provisions under the Uttar Pradesh Goods and Services Tax receipt of the communication Act, 2017 read with Section 20 of the Integrated Goods and Services Tax Act, 2017 determining a GST liability of INR 703.66 crores (Indian Rupees Seven Hundred Three Crore and Sixty Six Lacs) towards tax liability for the period from April 2018 to March 2023, with additional penalty equivalent to the tax liability and applicable interest. 6. Period for which communication April 2018 to March 2023. would be applicable, if stated 7. Expected financial implications on Nil the listed company, if any 8. Details of any aberrations/non- As mentioned in point 5 above. compliances identified by the authority in the communication 9. Details of any penalty or As mentioned in point 5 above. restriction or sanction imposed pursuant to the communication 10. Action(s) taken by listed company FGTPL is evaluating the appropriate course forward in with respect to the accordance with relevant statutory provisions. communication 11. Any other relevant information Nil One 97 Communications Limited Corporate Office - One Skymark, Tower-D, Plot No. H-10B, Sector-98, Noida-201304 compliance.officer@paytm.com T: +91120 4770770 F: +91120 4770771 CIN: L72200DL2000PLC108985 www.paytm.com Registered Office - 136, First Floor, Devika Tower, Nehru Place, New Delhi-110019