The Outcome of the Special Committee Meeting held on November 4, 2026, for allotment of NCDs is as enclosed.

NSE & BSE / 2026-27 / 172 November 4, 2026 The Manager The Manager Corporate Services Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, P J Towers, Dalal Street, Bandra (E), Mumbai 400 051 Mumbai 400 001 Ref: Symbol: PERSISTENT Ref: Scrip Code: 533179 Dear Sir/Madam, Sub: Outcome of the Special Committee Meeting held on November 4, 2026 in relation to the allotment of Non-Convertible Debentures Ref.: Our earlier letter bearing Ref. No. NSE & BSE / 2026-27 / 164 dated October 16, 2026 In continuation of the above referred intimation read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Special Committee of the Board of Directors at its meeting held on November 4, 2026, commenced at 1424 Hrs. (IST) and concluded at 1444 Hrs. (IST), has inter-alia considered and approved the allotment of 700,000 (Seven Lakh) INR denominated, senior, rated, listed and redeemable non-convertible debentures (“NCDs”) having a face value of INR 0.10 million each aggregating to INR 70 billion on a private placement basis by Persistent Systems Limited (“Issuer”). The details as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are as mentioned below: Sr. No. Particulars Details 1. Type of the securities Series 1 Debentures: 8.95% Persistent Systems Limited 2028 a. Size of the issue 150,000 NCDs of INR 100,000 each aggregating to INR 15,000 million b. Name of the stock exchange for listing National Stock Exchange of India Limited c. Tenure of the instrument (including date Tenor: 2 years from the date of allotment of allotment and date of maturity) Date of Allotment: 4 November 2026 Date of Maturity: 4 November 2028 d. Coupon/interest offered, schedule of Coupon/interest offered: 8.95% per annum payment of coupon/interest and Schedule of payment of coupon/interest and principal principal: Coupon payment date: 4 November 2027 Coupon and principal payment date: 4 November 2028 e. Charge/security, if any, created over the (i) Series 1 Debentures shall be secured by: assets (a) a first ranking exclusive fixed charge, by Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696 Tel: +91 (20) 670 35555 | Fax - +91 (20) 6703 6003 | E-mail - info@persistent.com | Website - www.persistent.com Page 1 of 17 Sr. No. Particulars Details way of hypothecation, by the Issuer over the designated proceeds account and all monies, deposits, investments and other assets standing to the credit of or arising from such account (other than the proceeds of Series 3 Debentures and Series 4 Debentures); (b) prior to the merger of Galaxy Germany Holding SE (Bidco) and Nagarro SE (Target), a pledge over the 100% shares of Bidco by the Issuer and the present and future intercompany receivables owed to the Issuer (as lender) by the Bidco; (c) prior to the merger of the Bidco and the Target, a pledge over all shares of the Target acquired and held by Bidco, the securities account held with the custodian bank of the Bidco in which such shares will be deposited and any present and future intercompany receivables owed to the Bidco (as lender) by the Target and/or its material subsidiaries; (d) following the merger of the Bidco and Target, to the extent not already covered above, a pledge over the shares of the surviving entity resulting from such merger (whether held directly or indirectly), any securities account in which such shares are held and all present and future intercompany receivables owed to or by such surviving entity; (e) a pledge over investments made from the debenture proceeds in AAA-rated debt securities, liquid funds or similar permitted investments; and (f) any other security that may be created in favour of the debenture trustee and/or the offshore security agent, in accordance with the definitive documents. (ii) Series 1 Debentures are not (a) ‘secured debt securities’ for the purposes of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021; or (b) ‘secured debentures’ for the purposes of Section 71 of the Companies Act, 2013 read with the Companies (Share Capital and Debentures) Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696 Tel: +91 (20) 670 35555 | Fax - +91 (20) 6703 6003 | E-mail - info@persistent.com | Website - www.persistent.com Page 2 of 17 Sr. No. Particulars Details Rules, 2014 but shall otherwise be secured by the security specified in (i) above and the Issuer shall, at no point in time, be required to maintain a minimum of 100% security cover for the Series 1 Debentures. f. Special right/interest/privileges attached There are no special rights, interests, or to the instrument and changes privileges attached to the Series 1 Debentures other than those ordinarily applicable to similar thereof listed non-convertible debentures issued in the normal course of business. g. Delay in payment of interest / principal (i) If an obligor (as defined in the definitive amount for a period of more than three documents) fails to pay any amount payable months from the due date or default in by it under a debenture document on its due payment of interest / principal; date, then interest shall accrue on the unpaid sum from the due date up to the date of actual payment at a rate of 2% per annum over and above the coupon rate; and/or (ii) If an event of default occurs (other than in case of non-payment), then the Issuer shall pay interest on the outstanding debt at a rate of 1% per annum over and above the coupon rate for the period until such event of default ceases to exist or is cured to the satisfaction of the debenture trustee. (iii) In case the Issuer has failed to execute the debenture trust deed within the time period specified by SEBI, the Issuer shall pay additional interest of at least 2% (two per cent) per annum (or such other rate as specified by SEBI) over and above the coupon on the nominal value of the Series 1 Debentures, from the date of such non- compliance till the date of execution of the debenture trust deed. (iv) In case of any delay in listing of the Series 1 Debentures beyond 3 (three) trading days from the closure of the issue or such other timelines as may be prescribed under applicable law, the Issuer will pay additional interest on the nominal value of the respective debentures to the debenture holders at the rate of 1% (one per cent) per annum from the deemed date of allotment till the actual listing of the respective debentures. Any interest accruing under this paragraph (iv) shall be in addition to the coupon and the default interest and will be Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696 Tel: +91 (20) 670 35555 | Fax - +91 (20) 6703 6003 | E-mail - info@persistent.com | Website - www.persistent.com Page 3 of 17 Sr. No. Particulars Details payable on demand by the debenture trustee. h. Details of any letter or comments Not applicable regarding payment/non-payment of interest, principal on due dates, or any other matter concerning the security and/or the assets along with its comments thereon, if any i. Details of redemption of preference Series 1 Debentures shall be redeemed on 4 shares indicating the manner of November 2028, unless redeemed earlier upon redemption (whether out of profits or out the occurrence of an early redemption event of fresh issue) and debentures more particularly set out under the definitive documents. j. Any cancellation or termination of Not applicable proposal for issuance of securities including reasons thereof Sr. No. Particulars Details 2. Type of the securities Series 2 Debentures: 8.95% Persistent Systems Limited 2029 a [Showing first 8,000 characters — download PDF for full document]