Please find attached herewith Update on Acquisition approved in the Board meeting held on 26th January 2026

Waaree Renewable Technologies Limited (WRTL) has executed definitive agreements to acquire 55% stake in Associated Power Structures Private Limited (APSPL) for Rs. 1,225 crores. The agreements include a Share Purchase and Subscription Agreement (SPSA) and a Shareholders Agreement (SHA). WRTL will purchase existing shares and subscribe to fresh equity shares of APSPL. Post-acquisition, APSPL will become a subsidiary of WRTL. The deal was originally targeted for completion by April 30, 2026, but has been delayed due to procedural requirements and is now expected to close by June 15, 2026. The transaction is not a related party transaction and is not at arm's length pricing as it involves non-related parties.