Strategic Investment in Lunar Holdco, Inc.

17th August 2026 BSE Limited National Stock Exchange of India Limited Corporate Relationship Dept 5th floor, Exchange Plaza, Plot No.C-1 1st Floor, New Trading Ring, Block “G” Bandra Kurla Complex Rotunda Building, Bandra (East) P.J. Towers, Fort, Mumbai – 400 051 Mumbai – 400 001 BSE Code : 504112 NSE Code : Nelco EQ Sub: Investment in Compulsorily Convertible Debentures (CCDs) of Lunar Holdco, Inc. – Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 This disclosure is further to our letters dated April 28, 2026, and May 1, 2026, and the approval of the shareholders of the Company obtained on June 13, 2026. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), read with the SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as amended from time to time, we wish to inform that, pursuant to the approvals of the Board of Directors and the shareholders of the Company, the Company has entered into agreement(s) with Lunar Holdco, Inc. ("Lunar"), a company incorporated under the laws of Delaware, United States of America, today i.e. August 17, 2026, for an investment of USD 20,000,000 (United States Dollar Twenty Million) by way of subscription to Compulsorily Convertible Debentures (CCDs) of Lunar. The details required under Regulation 30 of the SEBI Listing Regulations read with Para A of Part A of Schedule III thereto and the aforesaid SEBI Master Circular are enclosed herewith as Annexure A. This disclosure is also being made available on the website of the Company at www.nelco.in. You are requested to take the above information on record. Yours faithfully, NELCO Limited Ritesh Kamdar Company Secretary & Head – Legal ACS 20154 Encl: as stated above. Annexure A Details under amended Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Acquisition (including agreement to acquire): Sr. Particulars Remarks (a) Name of the target entity, details in Lunar Holdco, Inc. (“Lunar”), doing business as Elveo brief such as size, turnover etc. Mobile, is a Delaware, USA-incorporated satellite communications company focused on developing a next-generation global NGSO satellite network designed to support Direct-to-Device (D2D), IoT, and mobile satellite, connectivity services. Lunar is backed by strategic investors, including SES, one of the world's leading satellite communications operators. Turnover: Lunar Holdco was formed as part of the merger of legacy companies Lynk Global and Omnispace and is a pre-revenue company until full deployment of its satellite constellation. (b) Whether the acquisition would fall No within related party transaction(s) and whether the promoter / promoter group / group companies have any inter est in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” (c) Industry to which the entity being Satellite communications, Non-Geostationary Satellite acquired belongs Orbit (NGSO) services, Direct-to-Device (D2D) connectivity, Internet of Things (IoT), and Mobile Satellite Services. (d) Objects and impact of acquisition The investment is strategic in nature and is intended (including but not limited to, to establish a long-term partnership with Lunar for the disclosure of reasons for acquisition provision, distribution and commercialization of of target entity, if its business is satellite-based Direct-to-Device (D2D), IoT and outside the main line of business of related communication services in India and other the listed entity) countries. The investment is expected to provide Nelco strategic access to emerging satellite connectivity solutions and support growth opportunities in the satellite ecosystem. (e) Brief details of any governmental Lunar has not yet commenced commercial operations or regulatory approvals require in India. Commencement of services in India will be d for the acquisition subject to obtaining applicable approvals, licences and authorisations under telecommunications, satellite communications and other applicable laws. The investment by the Company through subscription to Compulsorily Convertible Debentures (CCDs) falls under the automatic route and is subject to applicable regulatory filings and compliances. (f) Indicative time period for completion The transaction stands completed pursuant to the of the acquisition execution of the transaction documents and subscription by the Company to Compulsorily Convertible Debentures (CCDs) aggregating USD 20 million. (g) Consideration - whether cash Consideration paid in cash/wire transfer by consideration or share swap or any subscribing to Compulsorily Convertible Debentures other form and details of the same (CCDs). (h) Cost of acquisition and/or the price at USD 20 million through subscription to Compulsorily which the shares are acquired; Convertible Debentures (CCDs) carrying a 7% annual compounded return, convertible into equity shares of Lunar in accordance with the terms of the CCDs. (i) Percentage of shareholding / control Not presently determinable. Upon conversion of acquired and / or number of shares Compulsorily Convertible Debentures (CCDs) into acquired equity securities of Lunar, the shareholding percentage will depend upon the occurrence of conversion events and other terms specified in the CCD documentation. The investment does not confer control over Lunar. (j) Brief background about the entity Lunar Holdco, Inc. (“Lunar”), doing business as Elveo acquired in terms of products/line Mobile, is a Delaware, USA-incorporated satellite of business acquired, date of communications company focused on developing a incorporation, history of last 3 years next-generation global NGSO satellite network turnover, country in which the designed to support Direct-to-Device (D2D), IoT, and acquired entity has presence and mobile satellite, connectivity services. Lunar is backed any other significant information (in by strategic investors, including SES, one of the brief) world's leading satellite communications operators. Date of Incorporation: Lunar Holdco was formed on January 27, 2026 as part of the merger of legacy companies Lynk Global and Omnispace. History of last 3 years turnover: Lunar Holdco is pre-revenue company until full deployment of its satellite constellation. Countries in which the acquired entity has presence: Lunar Holdco through its subsidiaries has market access in countries across Latin America, Africa, and Asia and has presence in United States and Europe.