Giving guarantees/indemnity/ becoming a surety for third party

The Manager, The Department of Corporate Relations Department of Corporate Services- Compliances, BSE Limited National Stock Exchange of India Limited Phiroze Jeejebhoy Towers, Dalal Street, Fort, Exchange Plaza, Bandra Kurla Complex, Mumbai - 400001 Bandra (East), Mumbai- 400 051 Scrip Symbol: SKYWAYS Scrip ID: 544890 Subject: Outcome of Board Meeting under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that the Board of Directors of Skyways Air Services Limited (“the Company”), at its meeting held on Thursday, 15th October 2026, today, has considered and approved the following agenda items: 1. Approval of Proposal for disinvestment of 40% of the Company’s existing shareholding in its wholly owned subsidiary, Avito Global Freight Private Limited, by transferring the equity shares to Core Operating Team of Avito Global Freight Private Limited, for a total consideration of Rs. 92.12 Lakhs. The aforesaid dilution in its wholly owned subsidiary is a part of strategic expansion of the Company by way of transferring the shares to the Core Operating Team. Upon completion of the proposed transaction, Avito Global Freight Private Limited will cease to be a wholly owned subsidiary of the Company but will continue to remain a subsidiary, with the Company retaining 60% of its paid-up equity share capital. The Board of Directors further discussed and approved that Skyways Air Services Limited (the “Company”) and the Core Operating Team of Avito Global Freight Private Limited, whose details are set out in Annexure I, shall invest in Avito Global Freight Private Limited an aggregate amount not exceeding Rs. 2,00,00,000 (Rupees Two Crore only), in one or more tranches. 2. Approval of Proposal for incorporation of Wholly Owned Subsidiary of Avito Global Freight Private Limited in Masdar City Free Zone, Abu Dhabi, United Arab Emirates, thereby becoming the step- down subsidiary of Skyways Air Services Limited. The proposed incorporation is intended to expand the business operations of Avito Global Freight Private Limited, facilitate its presence in international markets and enable it to explore additional business opportunities. The Board has taken note of the proposal, including the proposed subscription to the initial share capital of the proposed entity. Avito Global Freight Private Limited shall undertake the necessary steps and complete the requisite documentation and formalities in accordance with applicable laws and regulatory requirements. The proposed incorporation and investment shall be subject to obtaining the necessary approvals and complying with the applicable Indian and overseas statutory and regulatory requirements, including the applicable foreign exchange and overseas investment framework. 3. Approval for providing Corporate Guarantee to Techombank on behalf of Skyways SLS Logistik Company Limited (Vietnam), Subsidiary of the Company for an amount not exceeding VND 30,000,000,000 (Thirty Billion Vietnamese dong) equivalent to INR 11.00 Crore approx. for issuance of bank guarantee to International Air Transport Association (IATA). Further, detailed information as required under the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular SEBI/HO/CFD/CFD-PoD- 1/P/CIR/2023/123 dated July 13, 2023 and SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is attached herewith as Annexure-1, Annexure-2 and Annexure-3 respectively. The meeting commenced at 01:00 PM and concluded at 07:10 PM. You are requested to take the same on your record and oblige us. For Skyways Air Services Limited (Formerly Skyways Air Services Private Limited) Hitesh Kumar Company Secretary cum Compliance Officer M. No. A33286 Place: New Delhi Date: 15.10.2026 Annexure-1 S.NO. PARTICULARS DETAILS 1. The amount and percentage of Name of the subsidiary: Avito Global Freight Private Limited the turnover or revenue or As on March 31, 2026 income and net worth Particulars Rs. in Lakhs Percentage (%) contributed by such unit or Turnover 56.52 0.02 division or undertaking or subsidiary or associate Net worth 97.68 0.29 company of the listed entity during the last financial year; 2. Date on which the agreement for 15.10.2026 sale has been entered into 3. The expected date of Within 30 days completion of sale/disposal 4. Consideration received from Rs. 92,12,000 such sale/disposal 5. Brief details of buyers and whether any of the buyers Designation belong to the promoter/ (in Avito % of No. of promoter group/group Value of Global Shareholding Shares Name Shareholding companies. If yes, details Freight to be to be (in Rs.) thereof Private received received Limited) Mr. Sushil Managing 10.65% 106500 24,52,695 Kumar Rathi Director Whole Time Director Mr. Saurav and Chief 10.66% 106600 24,54,998 Chakraborty Executive Officer Whole Time Director Mr. Amit and Chief 10.65% 106500 24,52,695 Bohra Financial Officer Vice Mr. John President- 2.01% 20100 4,62,903 Soloman Operations Vice Mr. Ravi President- 2.01% 20100 4,62,903 Narayan Iyer Sales and Marketing Vice Ms. MV President- 2.01% 20100 4,62,903 Sachitha Air Freight Vice Mr. N President- 2.01% 20100 4,62,903 Krishnan Ocean Freight Total 40.00% 400000 92,12,000 Above investors do not belong to the promoter/ promoter group/group companies. 6. Whether the transaction would No fall within related party transactions? If yes, whether the same is done at “arm’s length” 7. Whether the sale, lease or Not Applicable disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations 8. Additionally, in case of a slump Not Applicable sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale Annexure-2 PARTICULARS DETAILS S.NO. 1. Name of the entity, date & country of incorporation, etc.; Name of Entity and Date of Incorporation: N.A. Country of Incorporation: United Arab Emirates 2. Name of Holding Company of the incorporated company and Avito Global Freight Private Limited (Subsidiary of relation with the listed entity; Skyways Air Services Limited) 3 Industry to which the entity being incorporated belongs; Logistics 4 Brief Background about the entity incorporated in terms of Logistics products / line of business; 5 Brief details of any governmental or regulatory approvals The proposed incorporation and investment required for the incorporation; shall be subject to obtaining the necessary approvals and complying with the applicable Indian and overseas statutory and regulatory requirements, including the applicable foreign exchange and overseas investment framework. 6 Nature of consideration - cash or share swap and details of the Cash same; 7 Cost of subscription / price at which the shares are Upto Rs. 7.00 Crores in one or more tranches subscribed; 8 Percentage of shareholding / control by the listed entity and / Avito Global Freight Private Limited will hold 100% or number of shares allotted. shareholding. Annexure-3 S.NO. PARTICULARS DETAILS 1 Name of party for which such guarantees or indemnity or surety Skyways SLS Logistik Company Limited was given; (Vietnam) 2 Whether the promoter/ promoter group/ group companies have Yes, the promoters have interest in the entity being any interest in this transaction? If yes, nature of interest and acquired. details thereof and whether the same is done at “arm’s length”; Nature of Interest: Due to Subsidiary, promoters have beneficiary interest. Yes, Transaction is being done at arm’s length. 3 Brief details of such guarantee or indemnity or becoming a Provide Corporate Guarantee to Techombank surety viz. brief details of agreement entered (if any) includi [Showing first 8,000 characters — download PDF for full document]