Action(s) taken or orders passed

November 2, 2026 To To The Manager, The Manager, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Bandra - Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 544277 Trading Symbol: WAAREEENER Dear Sir/Madam, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Update on the determination of U.S. Customs and Border Protection in EAPA Consolidated Case No. 8163 Ref: Our letter dated June 28, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”) and in continuation to our letter dated June 28, 2026, in which we had informed about the determination dated June 23, 2026 (the “June 23 Determination”) of the Trade Remedy Law Enforcement Directorate (“TRLED”) of U.S. Customs and Border Protection (“CBP”) in Enforce and Protect Act (“EAPA”) Consolidated Case No. 8163, we wish to further inform you as under: 1. The Company exercised its statutory right of de novo administrative review under 19 U.S.C. § 1517(f) by filing a request with CBP’s Office of Trade, Regulations and Rulings (“RR”) on August 5, 2026. The request was confined to one issue: that a subset of the entries covered by the June 23 Determination, originally imported into the United States during 2024, had been entered before the U.S. Department of Commerce’s preliminary affirmative determinations in the antidumping and countervailing duty (“AD/CVD”) investigations on solar cells from Vietnam (October 4, 2024 for CVD and December 4, 2024 for AD) and were therefore not subject to AD/CVD cash deposits at the time of entry. 2. RR has now issued its Final Administrative Decision dated October 29, 2026 (the “Decision”). On de novo review of the administrative record, RR has affirmed the determination of evasion under 19 U.S.C. § 1517(c) as to the subset of entries challenged by the Company. While RR confirmed that its review was confined to the single issue raised by the Company, RR ultimately concluded that its decision was limited to an overall decision of the issue of evasion – i.e., whether evasion occurred or it did not. RR’s decision does not expand the scope of the June 23 Determination, which remains limited to a small subset of historical entries, and it does not disturb the findings summarised in our earlier intimation, including that the Company did not export to the United States any solar modules manufactured using Chinese-origin solar cells. 3. The Decision is an administrative determination and is subject to judicial review before the U.S. Court of International Trade. The Company, in consultation with its U.S. trade counsel, is evaluating judicial review and the other remedies available to it and will take all appropriate steps to protect its interests. The Company’s U.S. operations continue in the ordinary course and remain fully compliant, and there is no impact on manufacturing, customer deliveries or commercial operations. The details required under Regulation 30 read with Part A of Schedule III to the Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026 (“SEBI Master Circular”) are enclosed as Annexure. WAAREE Energies Ltd. Registered Office: 602, Western Edge – 1, Western Express Highway, Borivali (E), Mumbai – 400 066, INDIA. Tel: +91-22-6644 4444. Fax: +91-22-6644 4400. Email: waaree@waaree.com.Website:www.waaree.com Corporate Identity Number:L29248MH1990PLC059463 The Final Administrative Determination was received by the Company Secretary on November 02, 2026 at 21:35 (IST). The Company will continue to keep the stock exchanges informed of material developments in the matter in terms of Regulation 30(7) of the Listing Regulations. Kindly take the same on record. Thanking you, Yours faithfully, For Waaree Energies Limited Rajesh Ghanshyam Gaur Company Secretary & Compliance Officer M.No. A34629 Encl.: As above WAAREE Energies Ltd. Registered Office: 602, Western Edge – 1, Western Express Highway, Borivali (E), Mumbai – 400 066, INDIA. Tel: +91-22-6644 4444. Fax: +91-22-6644 4400. Email: waaree@waaree.com.Website:www.waaree.com Corporate Identity Number:L29248MH1990PLC059463 ANNEXURE Particulars Details 1. Name of the authority U.S. Customs and Border Protection, Office of Trade – Regulations and Rulings (Border Security and Trade Compliance Division), Washington, D.C., United States of America, acting on administrative review under 19 U.S.C. § 1517(f) of the June 23 Determination of CBP’s Trade Remedy Law Enforcement Directorate. 2. Nature and details of the Final Administrative Decision dated October 29, 2026 (Ref. action(s) taken, initiated or OT:RR:BSTC:CVB H363200) in EAPA Consolidated Case No. order(s) passed 8163, issued under 19 U.S.C. § 1517(f) and 19 C.F.R. § 165.45 on the Company’s request for de novo administrative review of the June 23 Determination. The review was limited to the one issue raised by the Company: whether a subset of entries originally imported into the United States during 2024 were “covered merchandise” subject to the AD/CVD orders on solar cells from Vietnam, having regard to their time of entry. While RR noted in dicta that the Company had not substantiated that the time of entry of these entries, as determined under 19 C.F.R. § 141.68, preceded the effective dates of the preliminary determinations, it ultimately concluded an entry-by-entry determination of duty liability is not the subject of an EAPA administrative review. On this basis, it affirmed TRLED’s affirmative determination regarding evasion and stated that the appropriate recourse to challenge the assessment of duties on an entry-specific basis is a protest under 19 U.S.C. § 1514 once the evasion determination is complete. The Decision does not expand the scope of the June 23 Determination, which remains limited to a small subset of historical entries. The Decision records that it does not constitute a ruling under 19 C.F.R. Part 177, that it does not preclude CBP or other agencies from pursuing additional enforcement actions or penalties, and that it is subject to judicial review under Section 421 of the Trade Facilitation and Trade Enforcement Act of 2015. 3. Date of receipt of the order November 02, 2026 at 21:35 (IST) 4. Details of the violation(s) / RR confirmed TRLED’s affirmative evasion finding, noting that contravention(s) committed a limited subset of historical entries contained merchandise or alleged covered by the Vietnam circumvention determination and the AD/CVD orders on solar cells from Vietnam; that these entries were filed as consumption entries not subject to AD/CVD (entry type “01”) without the applicable AD/CVD case numbers, which RR treated as material false statements or omissions for the purposes of the EAPA statute; and that the applicable AD/CVD cash deposits and duties were consequently not paid at the time of entry. The Company WAAREE Energies Ltd. Registered Office: 602, Western Edge – 1, Western Express Highway, Borivali (E), Mumbai – 400 066, INDIA. Tel: +91-22-6644 4444. Fax: +91-22-6644 4400. Email: waaree@waaree.com.Website:www.waaree.com Corporate Identity Number:L29248MH1990PLC059463 Particulars Details maintains that these entries were originally entered before AD/CVD liability attached under the relevant orders and will continue to pursue this position through the remedies available to it. 5. Impact on financial, It has no impact on the Company’s manufacturing operations, operational or other business continuity or its ability to serve its customers in the activities, quantified in United States or elsewhere. monetary terms to the extent If sustained following the Company’s remaining remedies, the possible Decision may result in the assessment by CBP of AD/CVD duties, together with interest, at the applica [Showing first 8,000 characters — download PDF for full document]