Pursuant to the declaration of interim dividend by the Board of Directors of the Company at its Board meeting held on July 22nd, 2026, the Company has sent the enclosed email communication ....

July 27 2026 Listing Compliance Listing & Compliance Department Department National Stock Exchange of India BSE Limited Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor Dalal Street, Mumbai – 400001 Plot No. C/1, “G” Block BSE Scrip Code: 544029 Bandra-Kurla Complex Bandra (E), Mumbai – 400 051 Symbol: GANDHAR Subject: Communication to Shareholders - Intimation of Tax Deduction on Interim Dividend Dear Sir(s)/Madam(s), Pursuant to the declaration of interim dividend by the Board of Directors of the Company at its Board Meeting held on July 22nd, 2026, the Company has sent the enclosed email communication to its Shareholders, whose email addresses are registered with the Company /Depository Participants. The specimen of the communication is appended for your information and record. Thanking you. Yours faithfully, For Gandhar Oil Refinery (India) Ltd Binal Khosla Company Secretary & Compliance Officer Mem. No.: A29802 Encl: As above Gandhar Oil Refinery (India) Limited Registered office address: DLH PARK, 18TH FLOOR, S. V. ROAD, GOREGAON (WEST), Mumbai City, Maharashtra, India, 400062 CIN: L23200MH1992PLC068905, Tel No: 022 4063 5600, Fax: 022 4063 5601 COMMUNICATION TO THE SHAREHOLDERS Dated: 24/07/ 2026 Dear Shareholders, The Company is pleased to inform its shareholders that the Board of Directors of Gandhar Oil Refiner (India) Limited (“the Company”) at their meeting held on Wednesday, July 22, 2026 declared the payment of Interim Dividend of Rs. 2/- per Equity share i.e. 100% on face value of Rs. 2/- each for the Financial Year 2026-27. The said Interim Dividend will be payable to those members whose names appear in the Register of Members/ list of Beneficial Owners as provided by the Depositories i.e. National Securities Depository Limited (NSDL) and Central Depository Services (India) Ltd (CDSL) as on Friday, July 31, 2026 (Record date fixed for Interim dividend payment). As you may be aware that as per the Income-tax Act, 2025 (“the Act”), dividends paid or distributed by a Company shall be taxable in the hands of the shareholders. The Company shall therefore be required to deduct tax at source (“TDS”) at the time of making the payment of the said Interim Dividend. The TDS rate may vary depending on the residential status of the shareholder and the documents submitted to the Company in accordance with the provisions of the Act. The TDS for various categories of shareholders along with required documents are provided in Table 1 and 2 below: Table 1: Resident Shareholders Category of Shareholder Tax Exemption Applicability/ Documents required Deduction Rate Any resident shareholder 10% PAN as updated with depository participant (in with Permanent Account case of shares held in demat mode) and with Number (‘PAN’) the Company's Registrar and Transfer Agents – MUFG Intime India Private Limited (in case of shares held in physical mode). NIL If dividend distributed/ paid or likely to be distributed/ paid to a resident Individual shareholder during TY 2026-27 does not exceed INR 10,000/-. NIL If shareholder is exempted from TDS provisions through any circular or notification and provides an attested copy of the PAN card along with the documentary evidence in relation to the same. Submitting Form 121 NIL Eligible Shareholder providing Form 121(also applicable to Individuals above the age of 60 years) - on fulfilment of prescribed conditions. (Please refer attached formats) Order under section Rate Lower/NIL withholding tax certificate obtained 395(1) of the Act provided in from Income Tax authorities for TY 2026-27 the order and should include dividend income. Insurance Companies: NIL Self-declaration that it has full beneficial Public & Other Insurance interest with respect to shares owned, along Companies as specified with self-attested copy of PAN card and under 393(4) Table Sl. No. registration certificate issued by the IRDAI. 10 of the Act. Corporation established by NIL Documentary evidence that the person is or under a Central Act covered under section 393(9) of the Act. which is, under any law for the time being in force, exempt from income- tax on its income. Mutual Funds specified NIL If a self-declaration is provided along with the under schedule VII (Table: self-attested copy of PAN card and SEBI Sl. No. 20 or 21) read with registration (Format attached herewith). section 11 of the Act. Alternative Investment NIL If a self-declaration is provided, that the person Fund is covered by Notification No. 51/2015 dated 25 June 2015 and established as Category I or Category II AIF under SEBI regulations along with the self-attested copy of PAN card and registration certificate issued by SEBI (Format attached herewith). 10% This rate will be applicable for Category III AIF Resident Shareholders - Please Note that: 1. Recording of the valid PAN for the registered Folio/DP id-Client Id is mandatory. In absence of valid PAN, tax will be deducted at a higher rate of 20% as per Section397(2) of the Act. 2. Shareholders holding shares under multiple accounts under different status / category and single PAN, may note that, higher of the tax as applicable to the status in which shares held under a PAN will be considered on their entire holding in different accounts. If the provision of section 397(2) of the Act (deduction of tax at higher rate for non-furnishing of PAN by the deductee) is applicable to a specified person, in addition to the provision of this section, the tax shall be deducted at higher of the two rates provided in this section and in section 397(2) of the Act. Table 2: Non-resident Shareholders Category of Tax Exemption Applicability/ Documents required Shareholder Deduction Rate Any non-resident 20% (plus Non-resident shareholders may opt for tax rate under shareholder applicable Double Taxation Avoidance Agreement ("Tax Treaty"). surcharge The Tax Treaty rate shall be applied for tax deduction and cess) or at source on submission of following documents to the Tax Treaty company: rate whichever  Copy of the PAN Card, if any, allotted by the Indian is lower authorities.  Self-attested copy of Tax Residency Certificate (TRC) valid as on the Board Meeting/AGM date obtained from the tax authorities of the country of which the shareholder is resident. (In case, the TRC is in a language other than English, a duly notarized and apostilled copy thereof, translated in English language would have to be provided.)  Form No. 41 filed online on the income-tax portal.  Self-declaration confirming beneficial ownership, not having a Permanent Establishment in India, eligibility to Tax Treaty benefit and do not / will not have place of effective management in India. (Format attached herewith). Foreign 20% (plus  Self-attested copy of Tax Residency Certificate Institutional applicable (TRC) obtained from the tax authorities of the Investors, Foreign surcharge country of which the shareholder is resident. (In Portfolio Investors and cess) case, the TRC is in a language other than English, a (FII, FPI) or Tax duly notarized and apostilled copy thereof, Treaty rate translated in English language would have to be whichever provided.) is lower  Form No. 41 filed online on the income-tax portal.  Self-declaration confirming beneficial ownership, eligibility to claim Tax Treaty benefit and do not / will not have a Permanent Establishment or a place of effective management in India. (Format attached herewith). Submitting Order Rate Lower/NIL withholding tax certificate obtained from under section provided in Income Tax authorities for TY 2026-27 and should 395(1) of the Act the Order include dividend income. Non-resident Shareholders - Please Note that: 1. TDS shall be deducted at 20% (plus applicable surcharge and cess) if any of the above- mentioned documents are not provided. 2. The Company is not obligated to apply the Tax Treaty rates at the time of tax deduction/withholding on dividend amounts. Application of Tax Treaty rate shall depe [Showing first 8,000 characters — download PDF for full document]