Please refer to the enclosed file.

Mahindra & Mahindra Ltd. Mahindra Towers, Dr. G. M. Bhosale Marg, Worli, Mumbai 400 018 India Tel: +91 22 2490 1441 Fax: +91 22 2490 0833 www.mahindra.com M&M/SEC/2026-27/085 30th July 2026 National Stock Exchange of India Limited BSE Limited Scrip Symbol: M&M Scrip Code: 500520 Sub: Incorporation of a step-down subsidiary company Re: Intimation under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/ Madam, This is to inform you that the Company has received an intimation today, i.e., 30th July 2026, regarding the incorporation of a step-down subsidiary, Novavayu Aerospace Limited ("NAL") on 29th July 2026. The Certificate of Incorporation issued by the Ministry of Corporate Affairs was received on 30th July 2026 at 12:42 a.m., confirming the incorporation of NAL. The details as required under Regulation 30 of SEBI LODR Regulations read with SEBI Master Circular No. HO/49/14/14(7)/2025-CFDPOD2/I/3762/2026 dated 30th January 2026 are provided in Annexure-A. Yours sincerely, For Mahindra & Mahindra Limited Sailesh Kumar Daga Company Secretary FCS: 4164 CC: Luxembourg Stock Exchange London Stock Exchange Plc ISIN: USY541641194 Regd. Office: Gateway Building, Apollo Bunder, Mumbai 400 001, India | Tel: +91 22 6897 5500 | Fax: +91 22 22875485 | Email: group.communication@mahindramail.com | mahindra.com | CIN No. L65990MH1945PLC004558 Mahindra & Mahindra Ltd. Mahindra Towers, Dr. G. M. Bhosale Marg, Worli, Mumbai 400 018 India Tel: +91 22 2490 1441 Fax: +91 22 2490 0833 www.mahindra.com Annexure A Incorporation of a Step-down Subsidiary Sl. Details of Events that need Information of such events(s) to be provided a) name of the entity, date & Novavayu Aerospace Limited ("NAL") was incorporated in India country of incorporation, etc.; on 29th July 2026 and has its registered office in Mumbai, Maharashtra. The Certificate of Incorporation issued by the Ministry of Corporate Affairs was received on 30th July 2026 at 12:42 a.m. b) name of holding company of NAL is incorporated as a wholly owned subsidiary of Mahindra the incorporated company and Defence Systems Limited ("MDSL"). relation with the listed entity; MDSL is a wholly owned subsidiary of Mahindra Advanced Technologies Limited ("MATL"), which in turn is a wholly owned subsidiary of the Company. Accordingly, NAL is a step-down subsidiary of the Company. c) industry to which the entity Defence Industry being incorporated belongs; d) brief background about the Manufacture of aircrafts, aerospace products and undertaking entity incorporated in terms of services and activities related thereto. products / line of business; e) Brief details of any Not Applicable governmental or regulatory approvals required for the incorporation; f) nature of consideration - Cash Consideration whether cash consideration or share swap and details of the same; g) cost of subscription / price at NAL has been incorporated with an authorised capital of Rs. 1 which the shares are crore divided into 10,00,000 equity shares of Rs. 10 each. The MDSL along with its nominee has subscribed to 1,00,000 subscribed; equity shares of Rs. 10 each aggregating to Rs. 10 lakh. h) percentage of shareholding / NAL is incorporated as a wholly owned subsidiary of Mahindra control by the listed entity and Defence Systems Limited ("MDSL"). / or number of shares allotted. MDSL is a wholly owned subsidiary of Mahindra Advanced Technologies Limited ("MATL"), which in turn is a wholly owned subsidiary of the Company. Accordingly, NAL is a step-down subsidiary of the Company. Regd. Office: Gateway Building, Apollo Bunder, Mumbai 400 001, India | Tel: +91 22 6897 5500 | Fax: +91 22 22875485 | Email: group.communication@mahindramail.com | mahindra.com | CIN No. L65990MH1945PLC004558