Outcome of Board Meeting

August 18, 2026 To, To, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th floor, Plot no. C/1, Dalal Street, Mumbai - 400001. G Block, Bandra Kurla Complex, Mumbai – 400051. Scrip Code: 512008 NSE Symbol: EFCIL Sub.: Outcome of Board Meeting. Dear Sir/ Ma’am, In continuation with our intimation dated August 13, 2026 and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform that the Board of Directors (“Board”) of EFC (I) Limited (“Company”) at its meeting held on Tuesday, August 18, 2026, have inter-alia, considered and approved the: 1. The acquisition of 10,44,783 equity shares constituting 100% of the issued and paid-up capital of Ultrafresh Modular Solutions Limited (“Ultrafresh”) on a fully-diluted basis from its existing shareholders (“Sellers”), under share acquisition agreement. The details required to be disclosed under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are provided in Annexure-1. 2. Issuance of up to 19,99,996 equity shares of the Company of face value of Rs. 2 each, to the Sellers, at a price of Rs. 270 per equity share, which is determined in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder and Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations”), for consideration other than cash (being utilized towards discharge of Consideration for acquisition of 100 % stake in Ultrafresh on a fully diluted basis from the Sellers), on a preferential issue basis, subject to shareholder and regulatory approval and such other permissions, sanctions and statutory approvals, as may be required. The Board considered the valuation report and share swap valuation report determining the swap ratio for the proposed acquisition of Ultrafresh, issued by Mr. Mukesh Kumar Jain, IBBI Registered Valuer, which were further supported by the fairness opinion provided by Rarever Financial Advisors, a SEBI registered Category-I Merchant Banker. The fair valuation of the Company is also independently carried out by Deloitte Touche Tohmatsu India LLP (“Deloitte”). The details required to be disclosed under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are provided in Annexure-2. 3. Conducting a Postal Ballot for seeking the approval of the shareholders of the Company for the proposed preferential issue of equity shares to the sellers. EFC (I) Limited Regd. Office: 6th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra I CIN: L74110PN1984PLC216407 Tel.: 020 2952 0138 I Email Id: compliance@efclimited.in I Website: www.efclimited.in The meeting of Board of Directors commenced at 04:15 P.M. (IST) and concluded at 04:35 P.M. (IST). Kindly take the same on records. Yours faithfully, For EFC (I) Limited Aman Gupta Company Secretary Encl.: As above EFC (I) Limited Regd. Office: 6th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra I CIN: L74110PN1984PLC216407 Tel.: 020 2952 0138 I Email Id: compliance@efclimited.in I Website: www.efclimited.in Annexure-1 Particulars Details of Acquisition 1 Name of the target entity, details in brief Name: Ultrafresh Modular Solutions Limited such as size, turnover etc.; ("Ultrafresh") About: Ultrafresh is a 51% subsidiary of TTK Prestige Limited. It is an established player in India’s modular home solutions segment, offering modular kitchens, wardrobes and other customized modular furniture. The brand follows an integrated approach encompassing design, manufacturing, supply and installation, with a focus on quality, functionality, customization and contemporary design. With its expanding presence and technology- enabled approach to modular solutions, Ultrafresh is positioned to cater to the growing demand for organised, factory- manufactured and professionally installed home interior products in India. It also owns a manufacturing plant at Nalagarh, Himachal Pradesh. Turnover (in crores): given in point 10 below 2 Whether the acquisition would fall within The Proposed acquisition does not fall under related party transaction(s) and whether the related party transaction. promoter/ promoter group/ group companies have any interest in the entity None of promoter/ promoter group/ group being acquired? If yes, nature of interest and companies have any interest in Ultrafresh details thereof and whether the same is Modular Solutions Limited. done at “arm’s length”; The transaction has been done at arm’s length. 3 industry to which the entity being acquired Modular Furniture Solutions. belongs; 4 objects and impact of acquisition (including The acquisition is intended to strengthen and but not limited to, disclosure of reasons for further scale the Company’s existing furniture acquisition of target entity, if its business is manufacturing and Design & Built solutions outside the main line of business of the business. Ultrafresh is engaged in the listed entity); business of modular furnitures including kitchens, wardrobes and customised home interior solutions, which are complementary to the Company’s existing furniture EFC (I) Limited Regd. Office: 6th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra I CIN: L74110PN1984PLC216407 Tel.: 020 2952 0138 I Email Id: compliance@efclimited.in I Website: www.efclimited.in manufacturing and Design & Build operations. The acquisition will enable the Company to leverage its existing manufacturing capabilities, supply-chain infrastructure and design expertise, while integrating Ultrafresh’s product portfolio, brand, design capabilities, market presence, factory strategic presence in North India. It is expected to create operational and business synergies, broaden the Company’s product offerings, enhance manufacturing and distribution capabilities and provide greater access to the organised modular solutions market. Accordingly, the acquisition is within the broader line of the Company’s existing business activities and represents a strategic extension of its furniture manufacturing and interior solutions vertical, with the objective of achieving greater scale, integration and long-term value creation. 5 brief details of any governmental or The proposed acquisition does not require regulatory approvals required for the any specific governmental or regulatory acquisition; approvals. However, since the acquisition is proposed to be undertaken through a share swap mechanism, the issuance of fresh equity shares by the Company as consideration will be subject to the requisite approval of the shareholders of the Company and the applicable stock exchange(s), in accordance with the applicable laws and regulations. 6 indicative time period for completion of the The Company will complete the acquisition acquisition; by allotting equity shares through a preferential issue within 15 days from the date of passing of the shareholders' resolution. Provided that, if the allotment is pending due to any approval(s) or permission(s) from any regulatory authority or body or stock exchange, the Company shall complete the allotment within 15 days from the date of receipt of last such approval(s) or permission(s). The acquisition is expected to be completed on or before October 31, 2026. 7 consideration - whether cash consideration The consideration for the proposed or share swap or any other form and details acquisition will be discharged by way of a of the same; share swap. The Company will issue upto 19,99,996 (Nineteen Lakh Ninety [Showing first 8,000 characters — download PDF for full document]