MAHINDRA & MAHINDRA LTD : UPDATE ON DIVESTMENT OF ENTIRE STAKE IN ERKUNT SANAYI

• Amended and Restated Stock Purchase Agreement executed by Mahindra Overseas Investment Company (Mauritius) Limited (MOICML) and its subsidiary Erkunt Traktör Sanayii Anonim Şirketi with Hisarlar Makina Sanayi ve Ticaret A.Ş., Mr. Oguzhan Sahinkaya and Mr. Bunyamin Sarioglu. • Consideration remains unchanged at Turkish Lira 1,00,000 (~₹2,13,000). • Infusion amount revised to Turkish Lira 2.26 billion (~₹471 crore) by MOICML for extinguishment of external debt and business funding. • Buyer is infusing USD 10 million (~₹95 crore) as part of revised terms. • Transaction closing expected by 15th August 2026. Impact: Neutral (Update on divestment transaction with revised infusion terms, consideration unchanged)

Mahindra & Mahindra Ltd

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