Thermax Limited has submitted the summary of AGM Proceedings held on July 30, 2026.

July 30, 2026 The Secretary National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, PJ Towers, Dalal Street Bandra Kurla Complex, Mumbai: 400 001 Bandra (E) Company Scrip Code: 500411 Mumbai – 400 051 Company Scrip Code: THERMAX EQ Sub: 45th Annual General Meeting Dear Sir / Madam, This is to inform you that the 45th Annual General Meeting (AGM) of Members of the Company was held on Thursday, July 30, 2026 and the business as per notice dated May 7, 2026 were transacted. The presentation made by the Chairperson is enclosed for reference and will be made available on website of the Company at www.thermaxglobal.com In terms of Regulation 30 of SEBI (LODR), Regulations, 2015, a summary of proceedings of the Company’s 45th AGM is also appended. You are requested to kindly take note of the above. Thanking you, Yours faithfully, For THERMAX LIMITED Sangeet Hunjan Company Secretary & Compliance Officer Membership No: A23218 Encl: As above Summary of proceedings of the 45th Annual General Meeting The 45th Annual General Meeting (AGM) of the Members of THERMAX LIMITED ('the Company') was held on Thursday, July 30, 2026 at 4.30 p.m. (1ST) through Video Conferencing (VC). The meeting was held in compliance with the General Circulars issued by the Ministry of Corporate Affairs (MCA) and circulars issued by the Securities and Exchange Board of India (SEBI) and as per the applicable provisions of the Companies Act, 2013 and the Rules made thereunder. Mrs. Meher Pudumjee, Chairperson conducted the meeting. The Chairperson informed that this Annual General Meeting is being held through video conference in accordance with the circulars issued by the Ministry of Corporate Affairs and the SEBI. She introduced all the Directors and the Key Managerial Personnel of the Company. The requisite quorum being present, the Chairperson called the meeting to order. All the directors of the Company attended the meeting. The Chairperson informed that the Chairman of the Audit Committee, Chairman of the Stakeholders' Relationship Committee, Chairman of the Nomination and Remuneration Committee and representatives of the Statutory Auditors, Cost Auditors and Secretarial Auditors were present at the meeting. The Chairperson welcomed all shareholders, auditors and other invitees joining through VC and delivered her speech followed by a presentation on the Company's business performance during the financial year 2025-26 and highlights of the financial results for the quarter ended June 30, 2026. Thereafter, the Chairperson gave an opportunity to the Members to ask questions or seek clarifications on the businesses as contained in the Notice of the 45th AGM dated May 7, 2026. The Chairperson then responded to the queries raised/clarifications sought by the Members. The Chairperson informed that as per Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company had provided e-voting facility to the shareholders to cast their votes electronically in respect of all resolutions mentioned in the 45th AGM notice. The Chairperson also informed that the Company had also arranged for e-voting during the meeting to vote on all the resolutions for those Members who had not availed remote e-voting facility. The meeting commenced at 4:30 p.m. (IST) and concluded at 5.55 p.m. (IST) (including time allowed for e- voting at AGM). The following items of business, as per the Notice of 45th AGM of the Company were transacted: Item Particulars Type of No. Resolution Ordinary Business 1 To receive, consider, approve and adopt the Audited Standalone and Consolidated Ordinary Financial Statements of the Company for the financial year ended March 31, 2026 together with the reports of the Board of Directors and Auditors thereon. 2 To declare dividend of Rs. 14/- and a special dividend of Rs. 6/- aggregating to Rs. Ordinary 20/- (1000%) per equity share of face value of Rs. 2/- each for the financial year ended March 31, 2026. 3 To appoint a Director in place of Mr. Ashish Bhandari (DIN: 05291138), who Ordinary retires by rotation in terms of Section 152 of the Companies Act, 2013 and being eligible, offers himself for re-appointment. Special Business 4 To ratify the remuneration payable to M/s. Dhananjay V. Joshi & Associates, Cost Ordinary Accountants for the financial year ending on March 31, 2027 5 To consider and approve re-appointment of Dr. Ravi Shankar Gopinath (DIN: Special 00803847) as the Non-Executive, Independent Director of the Company The Board of Directors had appointed Mr. Sridhar Mudaliar, Partner of M/s. SVD & Associates, Practicing Company Secretaries, as the Scrutinizer to supervise the e-voting process. The Chairperson authorized the Company Secretary to declare the voting results, intimate to the Stock Exchanges and place the same on the website of the Company within statutory timelines. The Chairperson thereafter concluded the meeting For Thermax Limited, Sangeet Hunjan Company Secretary & Compliance Officer M. No: A23218 Place: Pune Date: July 30, 2026 CCClallaassssssifiiiffciiccaaatittoiioonnn:::InPPtuuebbrnlliiccal 45 Annual General Meeting Meher Pudumjee July 30, 2026 22 CCoonnsseerrvviinngg RReessoouurrcceess,, PPrreesseerrvviinngg tthhee FFuuttuurree.. Remembering Six Decades of Thermax Conserving Resources, Preserving the Future 3 Confidential and Internal Purpose only CCoonnsseerrvviinngg RReessoouurrcceess,, PPrreesseerrvviinngg tthhee FFuuttuurree. 5791–6691 Foundation 9891–6791 Diversify & Deepen 9991–0991 Going Public 9002–0002 Strengthen ourselves 9102–0102 Grow globally 6202–0202 “A Journey of Purpose, Resilience and Reinvention” Thermax Today Manufacturing Facilities 1,00,000 Assets delivered Energy Transition Countries Served 29,352 Total headcount* *This includes Permanent Employees and Contractual Workforce Reflecting back on FY26 E X TE RNAL I N TE R N AL Conserving Resources, Preserving the Future 4 Confidential and Internal Purpose only CCoonnsseerrvviinngg RReessoouurrcceess,, PPrreesseerrvviinngg tthhee FFuuttuurree. SEVITISOP SEGNELLAHC • India resilient — GDP ~7.6%; sustained government push • Strong order backlog at 13,604 Cr with improved quality of on infrastructure & clean energy orders , International business at 29% of sales • Policy tailwinds — bioenergy, green hydrogen, emission • Strong profits, PAT at 720 Cr. norms, energy-efficient manufacturing • Strategic wins - supercritical boiler; first large data centre • AI-driven explosion in data-centre demand opening new orders (India & US); Nigeria refinery & Middle East O&G cooling & power-recovery markets • New growth engines — Bio-CNG plant availability stabilising, • Energy security now a strategic imperative Total 14 Bio-CNG plants commissioned and operational • Geopolitical conflict (Middle East) — disrupted trade flows, • FEPL - project delays & operational challenges persist; commodity prices & supply chains • Legacy NRL EPC project — Execution challenges • Rising commodity & raw-material prices; sustained input-cost pressure • Chemicals below plan — Vebro & OCQ partnerships lagging; new-plant utilisation & input costs weighing on • Impact on businesses dependent on international sourcing & PBIT Middle East exports • Safety concerns : Four fatalities , Governance under review • Heavy monsoons impeded site execution & project progress CCClallaassssssifiiiffciiccaaatittoiioonnn:::InPPtuuebbrnlliiccal Agenda Our Stakeholders • Shareholders • Customers and Planet • Employees • Vendor partners • Community  Q1 FY'26 results 55 CCoonnsseerrvviinngg RReessoouurrcceess,, PPrreesseerrvviinngg tthhee FFuuttuurree.. Thermax FY26 Performance ₹10,694 Cr ₹721 Cr ₹13,871 Cr ₹13,604 Cr ₹3,084 Cr REVENUE PAT INTERNATIONAL ORDER BOOKING ORDER BALANCE (Consolidated) (Consolidated) REVENUE ▲ 3.1% ▲ 13.7% ▲ 34.2% ▲ 27.2% ▲ 32.7% ₹10,694 Cr ₹721 Cr ₹13,871 Cr ₹13,604 Cr ₹3,084 Cr ₹10,369 Cr ₹634 Cr ₹ [Showing first 8,000 characters — download PDF for full document]