Outcome of Board Meeting

PHONES: 91-129-4296500 E mail : sales@studds.com, info@studds.com, secretarial@studds.com CIN No.: L25208HR1983PLC015135 Date: October 31, 2026 To, To, National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street B andra (E), Mumbai – 400051 M umbai- 400001 NSE Scrip Symbol: STUDDS BSE Scrip Code: 544599 Subject: Outcome of the Board Meeting held on Saturday, October 31, 2026 Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "SEBI Listing Regulations"), as applicable, read with Schedule III of the SEBI Listing Regulations, as amended from time to time, we wish to inform that the Board of Directors of the Company, at its meeting held today i.e. Saturday, October 31, 2026, has, inter-alia, considered and approved the • Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended on September 30, 2026. A copy of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended on September 30, 2026; and Limited Review Reports for the Unaudited Standalone and Consolidated Financial Results, as received from the Statutory Auditors of the Company, Rajan Chhabra & Co., Chartered Accountants, are enclosed herewith in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. In addition to above, we wish to inform that the Board of Directors (‘Board’) of the Company and Nomination and Remuneration Committee of the Company (referred to as ‘Compensation Committee’ for the purpose of the ESOP Scheme) in their respective meeting(s) held on October 31, 2026, has approved the grant of 1,30,000 Employee Stock Options (‘Options’) under Studds Accessories Limited Employee Stock Option Scheme, 2026 (‘Studds ESOP Scheme 2026’ or ‘ESOP Scheme’ or ‘Scheme’) to the identified Eligible Employees. The requisite disclosures under Regulation 30 read with Para B of Part A of Schedule III of SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is enclosed herewith as ANNEXURE – I. Capitalised terms used but not defined in this Annexure shall have the meanings assigned to them in the ESOP Scheme. The Board Meeting commenced at 17:45 P.M. (IST) and concluded at 18:25 P.M. (IST). This will also be available on the website of the Company at www.studds.com under Investor Relations’ Section. This is submitted for your information & records. Thanking You, FOR STUDDS ACCESSORIES LIMITED ASHA MITTAL Company Secretary and Compliance Officer Encl: As above ANNEXURE - I S. No. Particulars Disclosure 1. Brief details of the Options 1,30,000 (One Lakh and Thirty Thousand) Employee Stock Options granted (‘Options’) granted by Compensation Committee to Eligible Employees of the Company under Studds Accessories Limited Employee Stock Option Scheme 2026 (‘Studds ESOP Scheme 2026’ or ‘ESOP Scheme’ or ‘Scheme’) as ‘ESOP Grant I’. Effective date of Grant: October 31, 2026. 2. Whether the Scheme is in Yes, the ESOP Scheme has been prepared in compliance with the terms of SEBI (Share Based provisions of Securities and Exchange Board of India (Share Based Employee Benefits and Employee Benefits and Sweat Equity) Regulations, 2021 (as amended from Sweat Equity) Regulations, time to time). 2021? 3. Total number of shares 1,30,000 (One Lakh and Thirty Thousand) Equity Shares of the Company covered by these Options having face value of INR 5/- each (Rupees Five each) (each Option is convertible into 1 (One) Equity Share of the Company having face value of INR 5/- each subject to the adjustments, if any, due to any corporate actions in the Company as mentioned in the ESOP Scheme) 4. Pricing Formula / Exercise Exercise Price is INR 334.90 per option, representing a 15% discount to Price the closing Market Price of INR 394.00 (as defined in the ESOP Scheme) of the Equity Shares of the Company on NSE on October 30, 2026, being the trading day immediately preceding the Grant Date, i.e. the date of the meeting of Board of Directors / Compensation Committee in which options has been granted, being the relevant date for determination of the Market Price. 5. Options vested Not Applicable at this stage (as this outcome is pertaining to grant of Options under the Scheme). 6. Time within which Option The Exercise Period for the Vested Options shall be as follows (subject may be exercised always to the SEBI PIT Regulations, the Company's code of conduct and applicable trading window / pre-clearance requirements): a) Any time after the Vesting Date and within 5 (five) years from the date of vesting of such Options, subject to the Exercise Windows specified in the Grant Letter; and b) In the event of resignation (Good leaver), the maximum Exercise Period available with respect to Vested Options shall be 60 days from the last working day of the Option Grantee 7. Options exercised Not Applicable 8. Money realized by exercise Not Applicable of Options 9. The total number of shares Not Applicable arising as a result of exercise of Options 10. Options lapsed Not Applicable 11. Variation of terms of Not Applicable Options 12. Brief details of significant  The ESOP Scheme shall be implemented through the direct route, terms pursuant to which the Company shall issue and allot the requisite number of Equity Shares to the Eligible Employees upon exercise of the Options, by way of primary issuance and allotment of Shares. The Plan is administered by the Nomination and Remuneration Committee (‘NRC’ or ‘Compensation Committee’). The aforesaid Options shall vest as per the vesting schedule and vesting conditions, as determined by the Compensation Committee at the time of the grant.  ESOP Scheme contemplates the grant of Options to the Eligible Employees, as may be determined by the Compensation Committee, in due compliance with the SEBI SBEB Regulations. After vesting, the Eligible Employees earn a right (but not an obligation) to exercise the vested options within a predefined exercise period and obtain equity shares of the Company, subject to payment of the Exercise Price and satisfaction of tax obligations arising thereon.  The maximum number of Options that may be granted under the ESOP Scheme shall not exceed 2,97,381 Options (representing 0.75% of the paid-up equity share capital of the Company on a post- ESOP (fully diluted)) basis (including such other adjusted figure for any bonus, stock splits or consolidations or other reorganization of the capital structure of the Company as may be applicable from time to time), in aggregate. The number of Options to be granted or maximum options can be granted to an Eligible Employee shall be determined by the Compensation Committee on a case-to-case basis, based on criteria such as designation; Longevity of Service; performance of Employee; performance of Company; or any other criteria as decided by the Compensation Committee time to time, provided that the grant to any Eligible Employee, shall at all times be within the aforesaid aggregate limit.  The minimum vesting period in respect of the Options shall not be less than 1 (one) year and not later than 5 (five) years from the date of grant of Options under the ESOP Scheme subject to the fulfillment of vesting conditions / other conditions as prescribed in the ESOP Scheme and the Grant Letter.  After the Options are converted into equity shares, the Shares shall be freely transferable and will not be subject to any lock in period restriction, except as required under the Applicable Laws including but not limited to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, or the Company's code of conduct / policies framed under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, [Showing first 8,000 characters — download PDF for full document]