Submission of Board Meeting Outcome for Board Meeting held today i.e., on Tuesday, October 13, 2026.

Madhav Infra Projects Limited CIN: L45200GJ1992PLC018392 Madhav House, Plot No. 4 Near Panchratna Building Subhanpura, Vadodara-390 023, Telefax : 0265-2290722 www.madhavcorp.com To Date: October 13, 2026 BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001. Dear Sir/ Ma’am, Sub: Outcome of Board Meeting held today, i.e., on Tuesday, October 13, 2026, in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ref: M/s Madhav Infra Projects Limited (Security Id: MADHAVIPL, Scrip Code: 539894) Pursuant to Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III of the said Regulations, we inform you that the Board of Directors of the Company at its meeting held on today, i.e. Tuesday, October 13, 2026, inter alia, has approved the following items: 1. Considered and approved Variation of rights/terms of existing 3,79,00,000, 1% Non-Cumulative Non- Convertible Redeemable Preference Shares of Rs. 10/- each into 4,65,03,067, 1% Non – Cumulative Compulsorily Convertible Preference Shares of Rs.1/- each, convertible into 4,65,03,067 Equity shares of the face value of Rs. 1/- each at a price of Rs. 8.15/- per Equity Share (including premium of ₹ 7.15/- per share), determined as per Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to approval of the shareholders. The information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD- PoD-1/P/CIR/2023/123 dated July 13, 2023, is enclosed herewith as Annexure – A. a. Considered and approved issue of upto 4,19,01,840 (Four Crores Nineteen Lakh One Thousand Eight Hundred Forty only) Equity Shares of Rs. 1/- each at an Issue price of ₹ 8.15/- per equity share upon conversion of outstanding unsecured loan to promoter group subject to the approval of Shareholders and such other regulatory authority as may be required, on preferential allotment basis in compliance with Chapter V of the SEBI (ICDR) Regulations, 2018 and subsequent amendments thereto & on such terms and conditions and in such manner as the Board may in its absolute discretion deem fit, to the following persons/entities as mentioned below: Sr. Name of Proposed Allottee Maximum No. of Equity Category No. Shares proposed to be allotted Promoter/ Promoter Group 1. Madhav (Phoolsagar Niwas Shahpura 1,71,77,914 Promoter Group Corridor) Highways Private Limited 2. Madhav (Sehora Silodi Corridor) 1,71,77,914 Promoter Group Highways Private Limited 3. Madhav Power Private Limited 50,23,558 Promoter Group 4. Infinity Infrabuild Limited 25,22,454 Promoter Group Total 4,19,01,840 The information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is enclosed herewith as Annexure – B 2. Approval of Notice of Postal Ballot Considered and approved the draft Notice of Postal Ballot of the Company, together with the explanatory statement annexed thereto, for seeking the approval of the shareholders of the Company for the matters specified therein, and authorized the appropriate officials of the Company to finalize and dispatch the said Notice of Postal Ballot to the members of the Company in accordance with the applicable provisions of the Companies Act, 2013 and rules made thereunder, and other applicable laws and regulations. Madhav Infra Projects Limited CIN: L45200GJ1992PLC018392 Madhav House, Plot No. 4 Near Panchratna Building Subhanpura, Vadodara-390 023, Telefax : 0265-2290722 www.madhavcorp.com 3. Considered and approved appointment of Mr. Haresh Kapuriya, Partner of M/s. K H & Associates, Company Secretaries, the Scrutinizer to scrutinize the e-voting process in a fair and transparent manner. The meeting of the Board of Directors of the Company commenced at 05:30 P.M. and concluded at 07:30 P.M. The above intimation is given to you for your record, kindly take the note of the same. Thanking You, Yours faithfully, FOR, MADHAV INFRA PROJECTS LTD. AMIT KHURANA MANAGING DIRECTOR DIN: 00003626 Madhav Infra Projects Limited CIN: L45200GJ1992PLC018392 Madhav House, Plot No. 4 Near Panchratna Building Subhanpura, Vadodara-390 023, Telefax : 0265-2290722 www.madhavcorp.com Annexure-A The details as required to be disclosed under Regulation 30 read with the SEBI Circular dated September 09, 2015 are as under: Sr.No. Particulars Details 1. Type of securities proposed to be issued 1% Non – Cumulative Compulsorily Convertible Preference Shares of Rs.1/- each subsequently convertible into Equity Shares of the face value of Rs. 1/- each. 2. Type of issuance Preferential Issue of 1% Non – Cumulative Compulsorily Convertible Preference Shares in accordance with the SEBI (ICDR) Regulations, 2018 read with the Companies Act, 2013 and rules made there under. 3. Total number of securities proposed to be To issue, offer and allot, from time to time in one or issued or the total amount for which the more tranches up to 4,65,03,067 1% Non – securities will be issued (approximately) Cumulative Compulsorily Convertible Preference Shares, convertible into 4,65,03,067 Equity Shares of face value of Rs.1/- each, to promoter group persons (mentioned below) at a price of ₹ 8.15/- each (including premium of Rs. 7.15/-) each Equity Shares. 4. Issue price Rs. 8.15/- only (including premium of Rs. 7.15/-) 5. List of Proposed Investors to whom shares shall NA be allotted for Cash 6. List of Proposed Investors to whom shares WAA SOLAR LIMITED (Promoter Group) shall be allotted for consideration other than Cash 7. Post allotment of securities – outcome of Attached in Annexure-IA the subscription, issue price / allotted price (in case of convertibles), number of investors. 8. In case of convertibles - intimation on the Each 1% Non – Cumulative Compulsorily Convertible conversion of securities or on lapse of the Preference Shares, shall be compulsorily convertible tenure of the instrument into Equity Shares of the face value Rs. 1/- each at a price of Rs. 8.15/- determined as per Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 at any time after the date of allotment of 1% Non – Cumulative Compulsorily Convertible Preference Shares but on or before the expiry of 18 months from the date of allotment. The requisite intimation will be given at the time of conversion of 1% Non – Cumulative Compulsorily Convertible Preference Shares. Madhav Infra Projects Limited CIN: L45200GJ1992PLC018392 Madhav House, Plot No. 4 Near Panchratna Building Subhanpura, Vadodara-390 023, Telefax : 0265-2290722 www.madhavcorp.com Annexure-B The details as required to be disclosed under Regulation 30 read with the SEBI Circular dated September 09, 2015 are as under: Sr.No. Particulars Details Type of securities proposed to be issued Equity Shares 1. Type of issuance Preferential Issue of Equity Shares in accordance with the SEBI (ICDR) Regulations, 2018 read with the Companies Act, 2013 and rules made there under. 2. Total number of securities proposed to be 4,19,01,840 Equity Shares of Face Value Rs. 1/- each at a issued or the total amount for which the price of Rs. 8.15/- per equity share upon conversion of securities will be issued outstanding unsecured loan to promoter group. 3. Issue price Rs. 8.15/- only (including premium of Rs. 7.15/- each.) 4. List of Proposed Investors to whom Equity N.A. Shares shall be allotted for Cash 5. List of Proposed Investors to whom Equity 1. Madhav (Phoolsagar Niwas Shahpura Corridor) shares shall be allotted for consideration Highways Private Limited other than Cash 2. Madhav (Sehora Silodi Corridor) Highways Private Limited 3. Madhav Power Private Limited 4. Infinity Infrabuild Limited 6. Post allotment of securities – outcome of the Attached in Annexure-IA su [Showing first 8,000 characters — download PDF for full document]