Scrutinizer"s Report of Hon"ble NCLT Convened Meeting

1715, Saiprasad Industrial Park-II, Besides Ramol Police Station, CTM-Ramol Road, Ramol Ahmedabad- 382 449. Mob.: 9067295280 y‘% E-mail: csl@palcorecycle.com Website: www.palcometals.com CIN: L27310GJ1960PLC000998 Palco Metals Limited 28 July 2026 The General Manager BSE Limited Corporate Relationship Department 1* Floor, Rotunda Building, P J Towers, Dalal Street, Fort, Mumbai — 400 001 Dear Sir, Scrip Code: 539121 Sub: Outcome of remote e-voting and ballot voting at the Meeting of the Equity Shareholders of Palco Metals Limited (“the Company”) Ref: Meeting called pursuant to the Order passed by the Hon’ble National Company Law Tribunal, Ahmedabad Bench (“Hon’ble NCLT”) in respect of Scheme of Amalgamation among Palco Metals Limited and Palco Recycle Industries Limited their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Scheme"). As directed by the Hon’ble NCLT pursuant to the order dated June 16, 2026, a meeting of the Equity Shareholders of the Company was held on Monday, July 27, 2026 at 11:30 a.m. IST through physical mode to consider and if thought fit, approve the Scheme. The Hon’ble NCLT, vide its order dated June 16, 2026, had appointed Advocate Vedant Dave, as the Scrutinizer for remote e-voting and ballot voting at the NCLT Convened Meeting. As per the Scrutinizer’s Report, the resolution as set out in the Notice of Meeting dated June 25, 2026 has been duly approved by the Equity Shareholders with requisite majority. The Scrutinizer’s Report is enclosed as Annexure 1. Pursuant to Regulation 44(3) of SEBI Listing Regulations, please find attached the outcome of voting held through remote e-voting and ballot voting during the NCLT Convened Meeting of Basis the Scrutinizer’s Report July 27, 2025, the resolution as set out in the Notice of the Meeting dated June 25, 2026 was passed by the Equity Shareholders: « With requisite statutory majority under Section 230 of the Companies Act, 2013; « With requisite statutory majority of Public Shareholders under SEBI Master Circular dated June 20, 2023. You are requested to kindly take the above information on your records. For and on behalf of Board of Directors of PALCO METALS LIMITED Tiwari Mukesh Mukesh Tiwari Company Secretary & Compliance Officer M. No 45237 Adv. Vedant Dave B.A.(Hons.), LLB, 1-601, Carmel, Godrej Garden City Chandkheda Ahmedabad 380009 E:vedantdaven22@gmail.com M: 491 9408740227 Report of Scrutinizer [Pursuant to Section 109 of the Companies Act, 2013 and Rule21(2) of Companies (Management and Administration) Rules, 2014] Mr. Laxman Madnani Advocate & Ex Presiding Officer DRT, Member (Judicial) RCT The Chairman of NCLT convened meeting of the Equity Shareholders of N PALCO METALS LIMITED having its Registered OfTice at 1715, Saiprasad Industrial Park-1I, Besides Ramol Police Station, CTM-Ramol Road, Ramol, Ahmedabad, Gujarat — 382449 Sub: Combined Scrutinizers’ Report on the resolution passed through remote e-voting and ballot voting at Meeting of the Equity Shareholders of PALCO METALS LIMITED convened as per dircctions of Hon’ble¢ National Company Law Tribunal (“NCLT”), Ahmedabad Bench. Dear Sir, 1, Vedant dave, Advocate, have been appointed by the Hon’ble National Company Law Tribunal, Ahmedabad Bench (“NCLT”) vide its order dated 16th June, 2026 as “the Scrutinizer” for the purpose ofs crutinizing remote e-voting process and by poll/ballot at the NCLT Convened Meeting (“meeting”) of the Equity Shareholders of PALCO METALS LIMITED (hereinafter referred to as “the Company”) convened by order of NCLT and held through Physical Mode with Ballot Voting at venue on Monday, 27th July, 2026 at 11:30 a.m. (IST), pursuant to Section 108 of the Companies Act, 2013 (“Act”) read with Rule 20 of the Companics (Management and Administration) Rules, 2014, as amended and read with the General Circulars No. 14/2020 dated April 8, 2020; No. 17/2020 dated April 13, 2020; No. 20/2020 dated May 5, 2020; No. 22/2020 dated June 15, 2020; No. 33/2020 dated September 28,2020; No. 39/2020 dated December 31,2020; No. 10/2021 dated June 23, 2021; No. 20/2021 dated December 8, 2021; No. 21/2021 dated December 14, 2021; No. 2/2022 dated May 5, 2022; No. 10/2022 dated December 28, 2022; No. 9/2023 dated September 25, 2023; No. 9/2024 dated September 19,2024; and No. 03/2025 dated September 22, 2025 issued by the Ministry of Corporate Affairs (hereinafter referred to as the “MCA Circulars”) and Circular Adv. Vedant Dave ' B.A.(Hons.), LLB, 1-601, Carmel, Godrej Garden City Chandkheda Ahmedabad 380009 E:vedantdaven22@gmail.com M: 491 9408740227 Exchange Board of India, on the resolution seeking approval of the Equity Shareholders .'".“'L; Scheme of Amalgamation between Palco Recycle Industries Limited nlnd Palco Metals le)lt;(z and their respective sharcholders (“the Scheme”), in terms of the Notice dated June 24, 2026, convening the said meeting. As mentioned in the Notice, the proceedings of the meeting were cup(luc(cd at the 4ch‘islc_rcd Office of the Company located at 1715, Saiprasad Industrial Park-11, Dcsu]cs~ anu'l !’ohcc Station, CTM-Ramol Road, Ramol, Ahmedabad, Gujarat - 382449 with Ballot Voting facility at venue. I do hereby submit my report as under: (i) The Company had appointed National Sccurities Depository Limited (NSDL) as the Agency for providing remote e-voting. (i) The Management of the Company is responsible for ensuring compliance with the requirements of the Act and the Rules thereunder, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, relating to voting done through the remote e-voting and by poll/ballot at the meeting on the resolution contained in the Notice of the Meeting. . (iii) The Sharcholders holding shares as on the cut-ofT date i.e. 20" July, 2026 were authorized to vote thorugh remote e-voting facility or voting through poll/ballot during the Meeting. (iv) My responsibility as a Scrutinizer for the voting process (through remoté e-voting and e-voting at the meeting) was restricted to scrutinize the e-voting process, in a fair and transparent manner and to prepare a consolidated Scrutinizer’s Report of the votes. (v) The Company had published Newspaper Advertisements in Business Staridard (English) and Jai Hind (Gujarati) on Friday, June 26, 2026 (regarding holding of meeting containing all the matters required under the Companies Act, 2013 and relevant rules made thercunder). (vi) The remote e-voting period had commenced on 24™ July, 2026 at 9:00 a.m. IST and has been closed on 26" July, 2026 at 5:00 p.m. IST. (vii) At the Tribunal convened Mecting, the Chairman, after discussion on resolution mentioned in the said Notice was over, announced that the Members present at the Meeting and who have not casted their vote by Remote E-voting and Postal Ballot, can exercise their voting rights by Poll which was made available at the Venue of the Tribunal convened Meeting. ’ Ady. Vedant Daye B.A.(Hons.), LLI, 1-6d 01, Carmel, Godrej Garden City Ahmedabad 1 380009 y 'mI"lkI‘I:-‘rlxrll(Invt,n22(uu,nmt| N M: +91 9408740227 tw( hv e ei r i ei e) m uT pnh le l or o ye ca mkf eei nde t r, i n o o ftn h t ec h eo p m Crp e ol s me e pt ni aco nen y o ,o ff ' 2t h we i tv no et si sn eg s a ,t Jt hh ae l T ar ki b Bu an ng g| a c ro an nv de n Se ad v aM ne e Pt ri an jg a, p at th ie wBa hl ol o at r el l n( o: tx( u in) tT oh te h ec o Sn cso hl ei md ea t ie sd r se s uu nl dt ro :f' the voting secking approval of the Equity Shurcholdcr§ of the Company Resolution; Approval of Scheme of Amalgamation, tC ho rn os uo gl hi d Pa ht ye sd i caR le p Mo ort d eo n ( wr ie ts hu l Rt e o mf o tv eo t Ei -n - g V ott ih nr go u Fg ah c ilR ie tm y)o t oe f tE h- e v mo et ei tn ig n ga n od f Epo ql ul i/ tb yal Slo ht a ra ct h oM le de et ri sn g i. Valid Votes DcVsoticngn ptlon vNu umb we hr to o f M eembe drs V Nos.o of vailid fl PVotoing at Tr”lbunal Total ii. Voted in favour of [Showing first 8,000 characters — download PDF for full document]