ESOP/ESOS/ESPS

ZUTL SOLAR October 15, 2026 The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Fort Bandra (E), Mumbai 400 051 Mumbai 400 001 Maharashtra, India Maharashtra, India Scrip Symbol : UTLSOLAR Scrip Code: 544613 Subject: Outcome of the Board Meeting held on October 15, 2026 Dear Madany/ Sir, Pursuant to Regulation 30 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that the Board of Directors of Fujiyama Power Systems Limited (“the Company”) at its meeting held on Thursday, October 15, 2026 has, inter alia, considered and approved: Raising of funds by way of issuance of equity shares of the Company through a Qualified Institutions Placement (“QIP”), in accordance with the applicable provisions of the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable acts, rules and regulations, subject to the approval of the shareholders, the stock exchanges and receipt of such regulatory, statutory and other approvals as may be applicable, with a view to achieving and maintaining the minimum public shareholding requirements of the Company. In order to give effect to the above, the Board has constituted and authorised the “QIP Committee” of the Board, comprising the Directors, to, inter alia, determine the size, timing, number and price of the issue, identify eligible Qualified Institutional Buyers (‘QIBs’), approve allocation and allotment, appoint necessary intermediaries and advisors, finalise the placement and other transaction documents, make requisite filings and applications with the concemed authorities, obtain listing and trading approvals, and undertake all other acts, deeds and matters necessary or incidental to the proposed fund raising. The Company will seek approval from the shareholders in relation to the matter mentioned above through postal ballot, subject to applicable provisions/ circulars issued by the Ministry of Corporate Affairs from time to time. The postal ballot notice will be circulated to the shareholders in due course, in accordance with applicable laws. The details regarding the issuance of securities as required pursuant to Regulation 30 of the SEBI Listing Regulations read with the SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/1/3762/2026 dated January 30, 2026 (“SEBI Master Circular”) are set out below at “Annexure-A”. FUJIYAMA POWER SYSTEMS LIMITED (Formerly Fujiyama Power Systems Private Limited) 53A/6, Near NDPL Grid Office, Near Metro Station, Industrial Area, Sat Guru Ram Singh Marg, Delhi - 110015, India CIN - L31909DL2017PLC326513, GST No - 07AADCF2634F1ZY www.utlsolarfujiyama.com _Ph : +91 9968309514, 996830951 E-mail: investor@utlsolarfujiyama.com cUTL SOLAR ii. On the recommendation of the Nomination and Remuneration Committee, the Board has approved the issue and allotment of 4,11,587 Equity Shares of Face Value of Re. 1/- each at an exercise price of Rs. 398.39/- each pursuant to the Employee Stock Option Plan 2023 of Fujiyama Power Systems Limited (“ESOP 2023”) to eligible employees upon exercise of Options. Consequently, the issued, subscribed and paid-up share capital of the Company stands increased from Rs. 30,69,01,762/- (divided into 30,69,01,762 equity shares of Re. 1/- each) to Rs. 30,73,13,349/- (divided into 30,73,13,349 equity shares of Re. 1/- each). The new Equity shares issued shall rank pari passu with the existing Equity shares. The Company is in the process of completing the other formalities relating to the issue and listing of the said shares and will file the necessary documents with the stock exchanges shortly for seeking the listing and trading approvals. The details pursuant to Regulation 30 of the SEBI Listing Regulations read with the SEBI Master Circular, and Regulation 10(c) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 as amended, read with SEBI Circulars are enclosed herewith as “Annexure-B” and “Annexure-C” respectively. The meeting commenced at 04:30 P.M. (IST) and concluded at 05:20 P.M. (IST). This intimation will also be available on the website of the Company at https://www.utlsolarfujiyama.com/ Kindly take the same on record. Thanking you, Yours sincerely, For Fujiyama Power Systems Limited (Formerly Fujiyama Power Systems Private Limited) MAYURIgzt e GUPTA B&iess Mayuri Gupta Company Secretary and Compliance Officer M. No.: A75210 FUJIYAMA POWER SYSTEMS LIMITED (Formerly Fujiyama Power Systems Private Limited) 53A/6. Near NDPL Grid Office, Near Metro Station, Industrial Area, Sat Guru Ram Singh Marg, Delhi - 110015, India CIN - L31909DL2017PLC326513, GST No - 07AADCF2634F1ZY www.utisolarfajtyama.com 91 9968309514, 9968309517, E-mail: investor@utlsolarfujiyama.com tUTL SOLAR Annexure-A Disclosure of information pursuant to Re:; lation 30 of the SEBI Listing Regulations read with the SEBI Master Circular S.No. Disclosures Particulars Type of securities proposed to be Equity Shares having a face value of Re. 1/- each issued (viz. equity shares, convertibles etc.); Type of Issue (further public Qualified institutional placement in accordance with offerings, right issue, depository the provisions of the Companies Act, 2013, Securities receipts (ADR/GDR), qualified and Exchange Board of India (Issue of Capital and institutions placement, Disclosure Requirements) Regulations, 2018, as preferential allotment etc.) amended, and such other acts, rules and regulations and subject to the shareholders’ approval, the stock exchanges, regulatory / statutory approvals and other approvals as may be applicable. Total number of securities For an aggregate amount of not exceeding Rs. 1,200/- proposed to be issued or the total Crore (Rupees One Thousand Two Hundred Crore amount for which the securities Only), inclusive of such premium, at such price or will be issued (approximately); prices as may be determined in accordance with applicable law. In case of preferential issue, the Not Applicable listed entity shall disclose the following additional details to the stock exchange(s): In case of bonus issue the listed Not Applicable entity shall disclose the following additional details to the stock exchange(s) In case ofi ssuance of depository Not Applicable receipts (ADR/GDR) or FCCB the listed entity shall disclose following additional details to the stock exchange(s) In case of issuance of debt Not Applicable securities or other non- convertible securities the listed entity shall disclose following additional details to the stock exchange(s) Any cancellation or termination Not Applicable of proposal for issuance of securities including reasons thereof MAYUR oigiaty signed oy MAYUR | cUpa Date 20261015 GUPTA 17224240530 FUJIYAMA POWER SYSTEMS LIMITED (Formerly Fujiyama Power Systems Private Limited) 53A/6, Near NDPL Grid Office, Near Metro Station, Industrial Area, Sat Guru Ram Singh Marg, Delhi - 110015, India CIN - L31909DL2017PLC326513, GST No - 07AADCF2634F1ZY www.utlsolarfujiyama.com Ph : +91 9968309514, 9968309517, E-mail: investor@utlsolarfujiyama.com UTL SOLAR Annexure-B Disclosure of information pursuant to Regulation 30 of the SEBI Listing Regulations read with the SEBI Master Circular S. No. Disclosures Particulars 1. Type of securities issued Equity Shares having a face value of Re. 1/- each 2. Type of Issue ESOP Allotment 3. Total number of securities proposed | 4,11,587 Equity Shares to be listed Digitally signed MAYURI by mavur GUPTA GUPTA oate20261015 17:4301 +05'30" FUJIYAMA POWER SYSTEMS LIMITED (Formerly Fujiyama Power Systems Private Limited) 53A/6, Near NDPL Grid Office, Near Metro Station, Industrial Area. Sat Guru Ram Singh Marg, Delhi [Showing first 8,000 characters — download PDF for full document]