SWELECT Energy Systems Limited has informed the Exchange about Acquisition of 100% (one hundred percent) equity shares of SUSHMA SOLAR ENERGY PRIVATE LIMITED, a Company based in Rajasthan.

October 22, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services Listing Department Floor 25, P. J. Towers, “Exchange Plaza”, Dalal Street, C-1, Block G, Bandra – Kurla Complex, Mumbai-400 001. Bandra (E), Mumbai – 400 051. Scrip Code: 532051 Scrip Symbol: SWELECTES Dear Sir / Madam, Sub: Acquisition of Sushma Solar Energy Private Limited We would like to inform you that pursuant to the powers conferred by the Board of Directors of the Company, the Investment Committee at their meeting held today (October 22, 2026) had approved the acquisition of 100% (one hundred percent) equity shares of SUSHMA SOLAR ENERGY PRIVATE LIMITED (‘Sushma Solar’/ ‘target entity’), a Company based in Rajasthan. Subsequent to this acquisition, Sushma Solar would become a Wholly Owned Subsidiary of the Company and in future, it would set up a solar power plant under Group Captive Scheme. The details as required under Regulation 30 of 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 dated January 30, 2026 are as follows: a. name of the target entity, details in brief SUSHMA SOLAR ENERGY PRIVATE such as size, turnover etc. LIMITED The Company was incorporated on 18th May 2025 with a paid-up equity share capital of Rs.1,00,000/- and is yet to commence its commercial production / operation. Latest financial parameter of target entity: Turnover (Rs. in Crore) - Nil PAT (Rs. in Crore) - Nil Net worth (Rs. in Crore) - 0.01 b. whether the acquisition would fall within No. related party transaction(s) and whether The Company would become a related party the promoter/ promoter group/ group subsequent to the completion of the proposed companies have any interest in the entity acquisition. being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”; c. industry to which the entity being Solar power generation, transmission and acquired belongs; distribution d. objects and impact of acquisition Sushma Solar proposes to set up a Solar Power (including but not limited to, disclosure of Plant under group captive scheme, which reasons for acquisition of target entity, if would result in increase of consolidated its business is outside the main line of turnover of the Company, strengthen our business of the listed entity); market presence in the western part of India, enhance operational efficiencies and expand renewable energy capabilities. e. brief details of any governmental or Not Applicable regulatory approvals required for the acquisition f. indicative time period for completion of The acquisition will be made as per the Share the acquisition Purchase Agreement or such other definitive agreement to be entered with the selling shareholders of Sushma Solar. g. consideration - whether cash Cash consideration or share swap or any other form and details of the same h. cost of acquisition and/or the price at Acquisition cost not exceeding Rs. which the shares are acquired 2,27,24,000/- (Rupees Two Crore Twenty Seven Lakhs Twenty Four Thousand only) i. percentage of shareholding / control The Company proposes to acquire 10,000 acquired and / or number of shares equity shares having face value of Rs.10/- acquired each (100% of total shares of the target entity) j. brief background about the entity Sushma Solar Energy Private Limited was acquired in terms of products / line of incorporated in Rajasthan. business acquired, date of incorporation, history of last 3 years turnover, country in Line of business acquired: The Company was which the acquired entity has presence incorporated with the main objects of and any other significant information (in generating, accumulating, distributing and brief) supplying Solar Energy for its own use or for sale to Governments, State Electricity Boards, Intermediaries in Power Transmission / Distribution, Companies, Industrial Units, or to other types of users / consumers of Energy. Date of incorporation: 18th May 2025 History of last 3 years’ turnover: FY 2025-26 – Nil FY 2024-25 and FY 2023-24 - Not Applicable. Sushma Solar will set-up a Solar Power Plant with an initial capacity of 50 MW under group captive scheme. We request you to kindly take on record the above compliances. Thanking you, Yours faithfully, For SWELECT ENERGY SYSTEMS LIMITED Arulkumar Pudur Shanmugasundaram CEO & Managing Director DIN: 08371976