Second grant of ESOP

22nd October 2026 To, To, BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 513519 Scrip Code: PITTIENG Dear Sirs, Sub: Second grant of ESOP We wish to inform you that the Board of Directors of the Company at its meeting held today i.e. 22nd October 2026 has noted the second grant of 5,77,500 employee stock options under the ‘Pitti Engineering Limited Employees Stock Option Scheme 2024 (“Pitti ESOP Scheme 2024” or “Scheme”) at the exercise price of ₹ 736.72 to the eligible employees of the Company made by the Nomination and Remuneration Committee at its meeting held on 22nd October 2026. The relevant details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 as updated on 30th January 2026 is attached as Annexure. Kindly take the same on record. Thanking you, Yours faithfully, For Pitti Engineering Limited Mary Monica Braganza Company Secretary & Chief Compliance Officer FCS: 5532 Annexure Second grant of 5,77,500 employee stock options S.No Particulars Disclosure Details a) Brief details of options granted The Nomination and Remuneration Committee has approved the grant of 5,77,500 employee stock options to the eligible employees under the Pitti ESOP 2024 – Grant 2 at the exercise price of ₹ 736.72 to the eligible employees of the Company out of the shareholder approved limit of 13,00,000 options. b) Whether the scheme is in terms of SEBI (Share Yes Based Employee Benefits and Sweat Equity) R egulations, 2021 c) Total number of shares covered by these options 5,77,500 equity shares of ₹ 5/- each of the Company. Each option carries the right to apply for and be allotted one equity share of face value of ₹ 5/- each of the Company. d) Pricing formula The Exercise Price shall be decided by the Board or Nomination and Remuneration Committee as is allowed under the Companies Act and SEBI Regulations. The Nomination and Remuneration Committee has approved an Exercise Price of ₹ 736.72 per Option for the second grant under the ESOP Scheme, being the same Exercise Price approved for the first grant. The Committee considered it appropriate to maintain consistency and equitable treatment across grants, particularly in view of the fact that the prevailing market price of the Company's equity shares remains broadly comparable to that at the time of the first grant. Accordingly, the approved Exercise Price represents a discount of 23.03% to the closing market price of ₹ 957.20 per equity share on the National Stock Exchange of India Limited which recorded the highest trading volumes in the equity shares of the Company on Wednesday 21st October 2026, i.e., being the previous trading day immediately preceding the date on which the grant of options has been approved. e) Options vested Not Applicable, as this outcome is pertaining to grant of Options f) Options exercised under the Scheme. g) Money realized by exercise of options h) Total number of shares arising as a result of exercise of option i) Options lapsed j) Variation of terms of options S.No Particulars Disclosure Details k) Brief details of significant terms The Scheme will be implemented and administered through trust route wherein a trust can either acquire the equity shares of the Company by way of secondary acquisition or the Company will issue shares to the Trust in accordance with the Scheme. Upon a valid exercise of a vested option by a participant, each vested option will entitle the participant to one equity share of the Company. There shall be a minimum period of one year between grant of options and vesting of options. Every grant of options shall be governed by a vesting schedule and such other terms, as determined by the Nomination and Remuneration Committee and detailed in the letter of grant issued to the eligible employees at the time of each grant. l) Vesting Schedule In terms of Pitti ESOP 2024 – Grant 2 and subject to the achievement of performance conditions as specified in the grant letter, options s hall vest as under: Time Based Options (TBO) Performance Based Options (PBO) 75% of Total Grants 25% of Total Grants Vesting Period % of Vesting Period % of options options Vested Vested End of Year 1 Nil End of Year 1 Nil End of Year 2 Nil End of Year 2 25% End of Year 3 15% End of Year 3 25% End of Year 4 15% End of Year 4 10% End of Year 5 15% End of Year 5 10% End of Year 6 15% End of Year 6 10% End of Year 7 20% End of Year 7 10% End of Year 8 20% End of Year 8 10% Time within which option may be exercised The Option Grantee is entitled to Exercise the Options from the first date of Vesting till the expiry of 5 years from the vesting of final tranche of the granted options. m) Subsequent changes or cancellation or exercise of 80,000 Stock Options under the first grant approved by the such options Nomination and Remuneration Committee at its Meeting held on 13th March 2026, stand cancelled as on date owing to the exit of the respective employees prior to completion of the vesting period. n) Diluted earnings per share pursuant to issue of Not Applicable, as this outcome is pertaining to grant of Options equity shares on exercise of options under the Scheme.