Outcome of Board Meeting

KPEL/BM/JUL/2026/O-652 July 3, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400051 Scrip Code: 539686 Symbol: KPEL Sub.: Outcome of Board Meeting Ref.: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (SEBI Listing Regulations), we wish to inform you that the Board of Directors at its meeting held today i.e., July 3, 2026, has inter alia transacted following business: 1. Appointment of Vice Chairman: Based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Prof. Sunil Kumar Maheshwari (DIN: 02317160) as an Additional Director/Whole Time Director, designated as Vice Chairman, with effect from July 3, 2026, for the term of five (5) years, subject to the approval of the shareholders of the Company, as per the regulatory requirements. 2. Resignation of Director: Mr. Amit Khandelwal (DIN: 09287996) has tendered his resignation as Whole-time Director of the Company with effect from July 3, 2026, for reason as mentioned in the resignation letter. He shall, however, continue to be associated with the Company in another role. The Board took note of the Resignation. The details required under the SEBI Listing Regulations, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026, are provided in Annexure I to this letter. A copy of the resignation letter received from Mr. Amit Khandelwal is enclosed herewith. Board meeting commenced at 11:50 AM and concluded at 12:15 PM Kindly take the same on your records. Thanking You, Yours faithfully, For K.P. Energy Limited Karmit Sheth Company Secretary and Compliance Officer Annexure-I Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Change in Composition of Board of Directors: Sr. Particulars Prof. Sunil Kumar Maheshwari Mr. Amit Khandelwal 1. Reason for change viz. Appointment as an Additional Resignation as Whole Time appointment, resignation, Director/Whole Time Director Director of the Company. removal, death or otherwise; designated as Vice Chairman. 2. Date of With effect from July 3, 2026 With effect form July 3, appointment/cessation (as 2026 applicable) & term of For the period of five (5) years, appointment; with effect from July 3, 2026, subject to the approval of Shareholders of the Company. 3. Brief profile (in case of As per Annexure A Not Applicable appointment); 4. Disclosure of relationships Prof. Sunil Kumar Maheshwari is Not Applicable between directors (in case of not related to any Director(s) of appointment of a director). the Company. 5. Information required Prof. Sunil Kumar Maheshwari is Not Applicable pursuant to BSE Circular No. not debarred from holding the LIST/ COMP/14/2018-19 and office of Director by virtue of any NSE Circular No. SEBI Order or any other such NSE/CML/2018/24 both Authority. dated June 20, 2018 6. Letter of Resignation along Not Applicable Enclosed herewith with detailed reasons for resignation Annexure A Brief Profile of Prof. Sunil Kumar Maheshwari: Prof. Sunil Kumar Maheshwari is a distinguished management scholar, former civil servant, policy advisor, and corporate board member with extensive experience in leadership, strategy, organizational transformation, and human resource management. He was Professor of Human Resource Management and Strategy at the Indian Institute of Management Ahmedabad (IIMA) and has previously served as Dean (Alumni and External Relations) at the Institute. An alumnus of the Indian Institute of Technology (IIT) Delhi, Prof. Maheshwari completed his doctoral programme in Management at IIM Ahmedabad. After beginning his career with Bharat Heavy Electricals Limited (BHEL), he was selected to the prestigious Indian Railway Personnel Service (IRPS) through the Civil Services Examination in 1988. In the Indian Railways, he held senior human resource leadership responsibilities, managing large workforces and complex industrial relations environments across major railway divisions. Over the past nearly four decades, Prof. Maheshwari has built a unique blend of academic excellence, public-sector leadership, and industry engagement. Before joining IIM Ahmedabad, he served on the faculty of the National Academy of Indian Railways and the Indian Institute of Management Lucknow. At IIMA, he has taught and researched strategic management, organizational transformation, leadership, international human resource management, and business renewal. He has also held several leadership positions at the Institute, including Dean (Alumni and External Relations) and Chairman of the Post Graduate Programme for Executives (PGPX). Prof. Maheshwari has advised a wide range of organizations across power, energy, infrastructure, banking, healthcare, logistics, manufacturing, telecommunications, education, and public sectors. His consulting and advisory work has focused on strategic transformation, leadership development, organizational restructuring, human capital management, governance, and business turnaround. He has worked with public sector enterprises, multinational corporations, large business groups, government organizations, and international institutions. The power and energy sector has been a significant area of his professional engagement. His research, consulting assignments, board-level contributions, executive education programmes, and case studies have addressed leadership, organizational effectiveness, performance management, and transformation challenges in major power-sector organizations. His published work includes studies on leadership, organizational engagement, shared services transformation, and performance improvement in India’s power sector, contributing to both management practice and policy discussions. From 2009 to 2013, Prof. Maheshwari served as Advisor to the Minister of Human Resource Development, Government of India, where he contributed to national initiatives related to faculty development, higher education reforms, and e-learning. He has also served on the boards and governing bodies of several leading institutions, including UCO Bank, Andhra Bank, NTPC School of Business, the National Health Systems Resource Centre, and the Indian Institute of Public Health. A prolific author, researcher, and case writer, Prof. Maheshwari has published extensively in leading academic journals and authored numerous teaching cases on strategic renewal, organizational turnaround, leadership, industrial relations, and corporate transformation. His books include Turnaround Excellence: Six Studies of Corporate Renewal and HR Analytics: Connecting Data and Theory. Prof. Maheshwari’s contributions have been recognized through several honours, including the Gold Medal for Excellence in Service from the National Academy of Indian Railways. Through his work as an educator, advisor, researcher, and board member, he continues to support organizations in building leadership capability, strengthening governance, and navigating strategic change in an increasingly dynamic business environment. J u ly 2 , 20 2 6 T o , Boa r d o f Di r e c t o r s . P . E n e r g y Limi t e d ' K P Ho u s e ' , Ne a r K P Ci r c el , O p p . sl h w ar Fa r m J unction B R T S , Can a l R oad, B h a t ar, S u r a t 3 9 50 1 7 , G u aj r at , I n d ai . S u b .: R e s i g n a t ion f r o m t h e p o s t o f W h ole Ti m e D i r ect o r a n d K e y M a n a ge r i a l P e r s o n n el o f th e m p a n y ea r Sir / M adam, I he r e by t e n de r my re sig n a t io n fr o m t h e offic e o f W h o le T i me Di r e c [Showing first 8,000 characters — download PDF for full document]