Outcome of Board Meeting

Essar Shipping Limited Essar House 11, K. K. Marg Mahalaxmi Mumbai - 400 034 Maharashtra, India Corporate Identification Number L61200GJ2010PLC060285 T + 91 22 6660 1100 F + 91 22 2354 4312 www.essar.com 04.11.2026 To To The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers 5th Floor, Exchange Plaza BSE Limited Plot No. C/1, G - Block Dalal Street, Fort Bandra-Kurla Complex Mumbai – 400 001 Bandra East Maharashtra, India Mumbai – 400 051 BSE Scrip Code: 533704 Maharashtra, India NSE Code: ESSARSHPNG Dear Sir/Madam, Subject: Outcome of Board Meeting held on 04.11.2026 Pursuant to Regulation 30, 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations), we, Essar Shipping Limited (the Company), inform you that the Board of Directors, at their Meeting held today i.e., on 04.11.2026, approved inter-alia following: 1. Based on the recommendation of the Audit Committee, the Board has approved the Un-Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Half-Year Ended 30.09.2026, alongwith Limited Review Reports (the Results); A copy of the said Results is enclosed herewith alongwith the Limited Review Reports submitted by Statutory Auditors viz., Manohar Chowdhry & Associates, Chartered Accountants 2. Further to the approval granted by the Board of Directors at its Meeting held on 12.08.2026, and the approval of the shareholders at the 16th Annual General Meeting held on 30.09.2026, and the Board has approved the Sale of Asset: Essar Tug III, owned by Essar Shipping Limited to M/s. Antellia Seamarg Transports Private Limited; Further, the detailed disclosure as required under Regulation 30 of the Listing Regulations readwith SEBI Circular No. SEBI/ HO/ HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are enclosed as Annexure-I, to this Letter. The Meeting of Board of Directors of Essar Shipping Limited, commenced at 3:15 p.m., and concluded at 4:30 p.m., This is for your information and records. Yours Sincerely For Essar Shipping Limited Habib Jan Company Secretary & Compliance Officer | A22801 Essar Shipping Limited: Registered Office: EBTSL Premises, ER-2 Building (Admn. Building), Salaya 44 KM, P.B. No 7, Taluka Khambhalia, Devbhumi Dwarka, Jamnagar, Khambhalia – 361 305, Gujarat, India T +91 2833 661444 F +91 2833 661366 Email Id: esl.secretarial@essarshipping.co.in STEEL | ENERGY | INFRASTRUCTURE | SERVICES Annexure - I The details as required under Regulation 30 of the Listing Regulations read with, SEBI Circular No. SEBI/ HO/ HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026: # Details Required Essar Tug III 1. The amount and percentage of the 100% turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year 2. Date on which the agreement for sale proposed has been entered into 3. Expected date of completion of on or before 31.03.2027 sale/disposal 4. Consideration received from such Nil sale/disposal 5. Brief details of buyers and whether any NA of the buyers belong to the promoter/ promoter group/ group companies. If yes, details thereof 6. Whether the transaction would fall No within related party transactions? If yes, whether the same is done at arm’s length 7. Whether the sale, lease or disposal of NA the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations 8. Additionally, in case of a slump sale, NA indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale Essar Shipping Limited: Registered Office: EBTSL Premises, ER-2 Building (Admn. Building), Salaya 44 KM, P.B. No 7, Taluka Khambhalia, Devbhumi Dwarka, Jamnagar, Khambhalia – 361 305, Gujarat, India T +91 2833 661444 F +91 2833 661366 Email Id: esl.secretarial@essarshipping.co.in STEEL | ENERGY | INFRASTRUCTURE | SERVICES Manohar Chowdhry & Associates CHARTERED ACCOUNTANTS Independent Auditor's Limited Review Report on the statement of Standalone Unaudited Financial Results of Essar Shipping Limited for the quarter and half year ended 30th September, 2026 pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors of Essar Shipping Limited CIN: L61200GJ2010PLC060285 Essar House, 11, Keshavrao Khadye Marg, Mahalaxmi, Mumbai - 400034 Introduction We have reviewed the accompanying statement of Standalone Unaudited Financial Results of Essar Shipping Limited ("the Company") for the quarter and half year ended 301 h September, 2026 together with notes thereon ("the Statement") being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (lnd AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to issue a report on the Statement based on our review. Scope of review We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 - "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for the financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain an assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Standalone Unaudited Financial Results, prepared in accordance with the recognition and measurement principles laid down in the aforesaid lnd AS 34 603, Bhavya Plaza,61 h Floor, 51 h Road, Chennai • Bengaluru • Mu Khar West, Mumbai-400052, Maharashtra, India. Visakhapatnam • Coimbatore • ~~~!ll.Wil'l:IY' I Tiruchirapalli • Vijayawada Tel: +91 22 35312820 Web: www.mca.co.in Manohar Chowdhry & Associates Continuation Sheet... specified under Section 133 of the Companies Act 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement. Material Uncertainty Related to Going Concern We draw attention to Note No. 4 to the Standalone Financial Results, which indicates that as on 30th September, 2026, the net worth of the Company is eroded as it is incurring operating losses since last several years. The Company has accumulated losses of ~5.979.78 crore as against share capital and reser [Showing first 8,000 characters — download PDF for full document]