Acquisition

B H A R A T F O R G E October 16, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relations Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G Block Dalal Street, Fort, Bandra Kurla Complex, Bandra (East) Mumbai 400 001, Maharashtra, India Mumbai 400 051, Maharashtra, India Scrip Code: 500493 Symbol: BHARATFORG Dear Sir/Madam, Sub.: Intimation of further investment Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) This is to inform you that pursuant to the approval of the Board of Directors at its meeting held on August 10, 2026, the Company has invested Rs. 2,400 million, in equity shares of Kalyani Strategic Systems Limited (“KSSL”), wholly owned subsidiary of the Company, at fair value, by way of rights issue. The said investment has been funded out of proceeds of the Qualified Institutional Placement undertaken by the Company and through internal accruals. The allotment of equity shares by KSSL to the Company against aforesaid investment will be completed on or before October 31, 2026. Further, pursuant to approval(s) accorded by the Board of Directors of KSSL, an amount of Rs. 1,630 million from the above, will be further invested by KSSL in equity shares of Agneyastra Energetics Limited (“AEL”), KSSL’s wholly owned subsidiary, in one or more tranches, at fair value, by way of rights issue. The details under Regulation 30 of the Listing Regulations read along with SEBI Master Circular no. SEBI/HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30 January 2026 in relation to infusion by the Company in KSSL has been disclosed in our earlier intimation dated August 10, 2026 while the information in relation to infusion by KSSL in AEL is annexed herewith as Annexure A. Kindly take the same on record. Thanking you, Yours faithfully, For Bharat Forge Limited Tejaswini Chaudhari Company Secretary & Compliance Officer Membership No.: A18907 Encl.: as above BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: + 91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163 Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com CIN L25209PN1961PLC012046 B H A R A T F O R G E Annexure A Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30 January 2026 Particulars Details Name of the target entity, details in brief such as Agneyastra Energetics Limited (“AEL”). size, turnover etc. AEL is a public limited company and wholly-owned subsidiary of Kalyani Strategic Systems Limited (“KSSL”) and a step-down wholly owned subsidiary of the Company. AEL is a specialised energetics manufacturing company engaged in delivering safe, reliable and high-performance solutions for defence and space applications in India and globally, with a product portfolio spanning explosives, propellants, pyrotechnics and integrated energetic systems. Turnover of AEL for year ended March 31, 2026 - NIL Whether the acquisition would fall within related AEL is a Related Party of the Company. party transaction(s) and whether the promoter/ promoter group/ group companies have any The proposed investment by KSSL in AEL is in the interest in the entity being acquired? If yes, nature of Related Party Transactions and will be on an nature of interest and details thereof and arm’s length basis. whether the same is done at “arm’s length” None of the Company’s promoter/ promoter group /group companies have any interest in the proposed investments. Industry to which the entity being acquired Defense Industry belongs Objects and impact of acquisition (including but AEL has been incorporated for the purpose of not limited to, disclosure of reasons for undertaking manufacturing of High Energy Explosives, acquisition of target entity, if its business is Ammunition High Explosive Filling (Heavy & Medium outside the main line of business of the listed Caliber), Manufacturing of Gun Propellants and Rocket entity) Propellants, creating end-to-end Defence Energetics Capability. The proposed investment by KSSL in AEL is to operationalize AEL and enable AEL to set up a state-of- the-art facility for pour filling of ammunition shells. Brief details of any governmental or regulatory No governmental or regulatory approvals are required for approvals required for the acquisition these transactions. Indicative time period for completion of the The investment will be undertaken in tranches and will acquisition be completed on or before September 30, 2027 Consideration - whether cash consideration or Cash share swap or any other form and details of the same BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: + 91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163 Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com CIN L25209PN1961PLC012046 B H A R A T F O R G E Particulars Details Cost of acquisition and/or the price at which the Proposed Investment not exceeding Rs. 1,630 million. shares are acquired Percentage of shareholding / control acquired KSSL will continue to hold 100% of shareholding in AEL. and / or number of shares acquired Brief background about the entity acquired in AEL is an Indian public limited company incorporated on terms of products/line of business acquired, July 2, 2025 to undertake manufacturing of High Energy date of incorporation, history of last 3 years Explosives, Ammunition High Explosive Filling (Heavy & turnover, country in which the acquired entity Medium Caliber), Manufacturing of Gun Propellants and has presence and any other significant Rocket Propellants, creating end-to-end Defence information (in brief) Energetics Capability. AEL has presence in India. AEL’s turnover for the last 3 years is as follows: FY 2025-26: Nil FY 2024-25: NA FY 2023-24: NA BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: + 91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163 Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com CIN L25209PN1961PLC012046