Please refer the enclosed intimation w.r.t. the approval for proposed incorporation of Wholly-owned Subsidiary Company; Monitoring Agency Reports; and providing of Corporate Guarantee on behalf of Max Estates 128 Private Limited, Wholly-owned Subsidiary Company.

November 4, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544008 SYMBOL: MAXESTATES Sub.: Intimation under regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Ma’am, We wish to inform you that the Board of Directors of the Company at their meeting held today i.e. November 4, 2026, inter alia:  Approved the incorporation of a Wholly-owned Subsidiary. The particulars required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated as on January 30, 2026, are provided in Annexure A;  Reviewed, as recommended by the Audit Committee in its meeting held earlier during the day, the Reports for the quarter ended September 30, 2026, issued by CARE Ratings Limited for monitoring of the utilisation of proceeds of Qualified Institutional Placement and Preferential Issue of Convertible Warrants, pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulations 162A and 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The reports are enclosed as Annexure B and Annexure C, respectively; and  Approved to provide a Corporate Guarantee for the term loan facility of up to ₹350 crore proposed to be availed by Max Estates 128 Private Limited (“Max 128”), a Wholly-owned Subsidiary of the Company. The Corporate Guarantee shall be provided as a condition precedent to the facility and shall remain valid until the obligations of Max 128 under the facility documents are fully discharged. Neither the promoter nor the promoter group or other group companies have any interest in the transaction, except through Max 128 being a Wholly-owned Subsidiary of the Company. The Corporate Guarantee shall constitute a contingent liability of the Company, with no immediate financial outflow arising solely from its issuance. The Board meeting commenced at 1730 hours (IST) and concluded at 1938 hours (IST) today. Thanking you, For Max Estates Limited Abhishek Mishra Company Secretary & Compliance Officer Encl: a/a Max Estates Limited Corporate Office: Max Towers, L-20, C-001/A/1, Sector-16B, Noida-201301, Uttar Pradesh, India, | P: +91 120-4743222 Regd. Office: Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhla Industrial Estate, New Delhi -110020 Email : secretarial@maxestates.in | Website : www.maxestates.in | CIN: L70200DL2016PLC438718 Annexure -A Sr. No. Particulars Details 1. Name of the target entity, details in brief Name is being finalised subject to approval such as size, turnover etc. by the Ministry of Corporate Affairs. Proposed Authorised Share Capital: INR 10,00,000/- (Indian Rupees Ten Lakh Only) divided into 1,00,000 (One Lakh) Equity Shares of INR 10/- (Indian Rupees Ten Only) each; Proposed Paid-up Capital: INR 1,00,000/- (Indian Rupees One Lakh Only) divided into 10,000 (Ten Thousand) Equity Shares of INR 10/- (Indian Rupees Ten Only) each. 2. Whether the acquisition would fall The Wholly-owned Subsidiary company once within related party transaction(s) and incorporated will be a Related Party. whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length”. 3. Industry to which the entity being Real Estate Industry acquired belongs 4. Objects and impact of acquisition The proposed Wholly-owned Subsidiary shall (including but not limited to, disclosure carry out the same business activities i.e. real of reasons for acquisition of target estate activities. entity, if its business is outside the main line of business of the listed entity). 5. Brief details of any governmental or Not Applicable regulatory approvals required for the acquisition 6. Indicative time period for completion of Not Applicable the acquisition 7. Consideration - whether cash 100% subscription to the share capital will consideration or share swap or any be in cash other form and details of the same 8. Cost of acquisition and/or the price at 100% share capital in the proposed Wholly- which the shares are acquired owned Subsidiary shall be owned by the Max Estates Limited Corporate Office: Max Towers, L-20, C-001/A/1, Sector-16B, Noida-201301, Uttar Pradesh, India, | P: +91 120-4743222 Regd. Office: Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhla Industrial Estate, New Delhi -110020 Email : secretarial@maxestates.in | Website : www.maxestates.in | CIN: L70200DL2016PLC438718 Sr. No. Particulars Details Company. It is proposed to subscribe 10,000 (Ten Thousand) Equity Shares of INR 10/- 9. Percentage of shareholding/control (Indian Rupees Ten Only) each amounting to acquired and / or number of shares INR 1,00,000/- (Indian Rupees One Lakh acquired Only), which shall include the holding of 1 equity share each by 6 (Six) nominees on behalf of the Company. 10. Brief background about the entity Not Applicable acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) Max Estates Limited Corporate Office: Max Towers, L-20, C-001/A/1, Sector-16B, Noida-201301, Uttar Pradesh, India, | P: +91 120-4743222 Regd. Office: Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhla Industrial Estate, New Delhi -110020 Email : secretarial@maxestates.in | Website : www.maxestates.in | CIN: L70200DL2016PLC438718 Annexure - B Monitoring Agency Report No. CARE/PRO/GEN/2026-27/1066 The Board of Directors Max Estates Limited L-20, C-001/A1, Max Towers Gautam Buddha Nagar, Sector-16B Noida, 201301 Uttar Pradesh November 04, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Qualified Institutions Placement (QIP) of Max Estates Limited (“the Company”) We write in our capacity of Monitoring Agency for the QIP for the amount aggregating to Rs. 800.00 crore of the Company and refer to our duties cast under 173A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended September 30, 2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated August 29, 2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Sonal Bhageria Associate Director Sonal.bhageria@careedge.in Monitoring Agency Report Report of the Monitoring Agency Name of the issuer: Max Estates Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a)Deviation from the objects: Nil (b)Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as define [Showing first 8,000 characters — download PDF for full document]