General Updates

No: 1:05:138:I:CS Dated: 23.10.2026 National Stock Exchange of India Limited BSE Limited, Listing Department, Exchange Plaza, Department of Corporate Services, Bandra – Kurla Complex, Bandra (E) Floor – 25, PJ Towers, Dalal Street, MUMBAI – 400 051. MUMBAI – 400 001. Sub: Incorporation of two wholly owned Subsidiaries of PFC Consulting Limited (a wholly owned Subsidiary of Power Finance Corporation Limited)- (i) SOLAPUR SEZ POWER TRANSMISSION LIMITED and (ii) KARUR REZ POWER TRANSMISSION LIMITED Madam/Sir, This is to inform that two Special Purpose Vehicle (SPV) Companies have been incorporated as wholly owned Subsidiaries of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC): Sr. Name of the SPV Purpose 1. Solapur SEZ Power Transmission Transmission System for Evacuation of Power from Limited RE Projects in Solapur SEZ (Phase-II: 2 GW) and Network Expansion Scheme to Enable Drawl of Power from Solapur PS 2. Karur REZ Power Transmission Transmission System Strengthening at Karur PS for Limited Integration of RE Generation Capacity PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited) has been nominated as the 'Bid Process Coordinator' (BPC) for selection of developer through tariff based competitive bidding for the Independent Transmission projects (ITPs) by Ministry of power, Gol. As per the provisions of tariff based competitive bidding Guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required. For these activities, Special Purpose Vehicle (SPV) is required to be incorporated which will take up various preparatory activities of the transmission project e.g. survey and preparation of report, initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required. The SPV has to be transferred to the Successful Bidder selected through International Competitive Bidding process under Tariff Based Competitive Bidding Guidelines. The Central Electricity Authority (CEA), Ministry of Power (Mop), vide File No. CEA-PS-12- 13/3/2019-PSPA- II Division part (1) 1/67445/2026 dated 20.07.2026 has intimated that the National Committee on Transmission (NCT), in its 42nd meeting held on 07.07.2026, has nominated PFC Consulting Limited (PFCCL) as the Bid Process Coordinator (BPC) for development of above mentioned Transmission schemes through the Tariff Based Competitive Bidding (TBCB) process. Accordingly, the SPVs have been incorporated as a wholly owned subsidiaries of PFCCL to develop the above mentioned transmission schemes. All these SPVs will be transferred to the successful bidder after the completion of the bidding process. The successful bidder selected through the bidding process would develop the project. This is submitted for your information and record. Thanking you, Yours faithfully, For Power Finance Corporation Ltd. (Manish Kumar Agarwal) Company Secretary & Compliance Officer mk_agarwal@pfcindia.com