REC : TRANSFERS TWO PROJECT SPVS FOR RS 16.82 CR

• RECPDCL, a wholly owned subsidiary of REC, transferred entire shareholding in two project-specific SPVs to successful bidders on October 12, 2026 • Jam Khambhaliya Jamnagar Power Transmission Ltd sold to Ceigall India Ltd for ~₹8.40 Cr, including taxes, professional fee and reimbursement • Lakadia II Power Transmission Ltd sold to Power Grid Corporation of India Ltd for ~₹8.43 Cr, including taxes, professional fee and reimbursement • Each SPV had 50,000 equity shares; SPAs were executed on October 12, 2026 and consideration was per Ministry of Power guidelines • Post transfer, the SPVs are no longer subsidiaries of RECPDCL and REC

REC Ltd

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