Acquisition

Date: October 21, 2026 BSE Limited, National Stock Exchange of India Limited, 20th Floor, P.J. Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400 051 BSE Scrip Code: 544606 NSE Scrip Symbol: PINELABS Sub: Disclosure under Regulation 30(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/ Madam, Pursuant to Regulation 30 read with Schedule III Part A Para A (1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we would like to inform you that Pine Labs Limited (“the company”)) has invested INR 24,99,93,297 (Indian Rupees Twenty Four Crore Ninety Nine Lakh Ninety Three Thousand Two Hundred and Ninety Seven only) in 49,869 equity shares of Synergistic Financial Networks Private Limited (“SFNPL”), a wholly owned subsidiary of the Company by way of subscription to Rights Issue. Being a wholly owned subsidiary, there is no change in the shareholding percentage of the Company in SFNPL, pursuant to this investment. We have enclosed herewith the details required under Regulation 30 read with Para A(1) of Part A of Schedule III of the Listing Regulations and the SEBI circular SEBI/HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026, as Annexure -A. We request you to kindly take the above on record. Thanking you, For Pine Labs Limited Neerav Mehta Company Secretary and Compliance Officer Membership Number: A20949 Encl. a/a Annexure – A (Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 Sr. Particulars Details 1 Name of the target entity, details in brief such as size, Synergistic Financial Networks Private turnover etc. Limited (“SFNPL”) was incorporated under the Companies Act, 1956, on March 12, 2008, as a Private Limited Company. SFNPL is in the business of facilitating financial transactions through their systems infrastructure which includes payment processing, providing end-to-end technology integrated solutions and selling transaction related infrastructure. Paid-up capital: INR 3,23,14,480 - (post infusion from the Company) Turnover as on March 31, 2026 – INR 1,89,74,69,654 2 Whether the acquisition would fall within related party The transaction is not a related party transaction(s) and whether the promoter/ promoter group/ transaction. group companies have any interest in the entity being acquired? Whether the promoter/ promoter group/ group companies have any interest in the entity being If yes, nature of interest and details thereof and whether acquired- not applicable. the same is done at “arm’s length” Whether transaction is done at arm’s length- not applicable. 3 Industry to which the entity being acquired belongs SFNPL operates in the Financial Technology industry. 4 Objects and impact of acquisition (including but not The investment is intended to fund SFNPL’s limited to, disclosure of reasons for acquisition of target working capital requirements, support its entity, if its business is outside the main line of business growth opportunities, and enable further of the listed entity) investments in its step-down subsidiaries. Following the transaction, SFNPL will remain a wholly owned subsidiary of the Company. 5 Brief details of any governmental or regulatory approvals Not applicable required for the acquisition 6 Indicative time period for completion of the acquisition On October 21, 2026 7 Nature of consideration - whether cash consideration or Cash consideration share swap and details of the same 8 Cost of acquisition and/or the price at which the shares Acquisition of shares for a consideration of are acquired INR 24,99,93,297 (Indian Rupees Twenty Four Crore Ninety Nine Lakh Ninety Three Thousand Two Hundred and Ninety Seven only) 9 Percentage of shareholding / control acquired and / or There will be no change in the percentage of number of shares acquired shareholding of the Company in SFNPL. SFNPL will continue to remain a wholly owned subsidiary of the Company. 49,869 equity shares are acquired by the Company pursuant to this Rights issue. 10 Brief background about the entity acquired in terms of Background - SFNPL is in the business of products/line of business acquired, date of incorporation, facilitating financial transactions through their history of last 3 years turnover, country in which the systems infrastructure which includes payment acquired entity has presence and any other significant processing, providing end-to-end technology information (in brief) integrated solutions and selling transaction related infrastructure. Date of Incorporation – March 12, 2008 Turnover (Rs. in millions) for last 3 years: Mar 2024 Mar 2025 Mar 2026 1967.7 1983.9 1897.5 Country of presence – India