REC : RECPDCL SELLS TWO PROJECT SPVS FOR RS 16.83 CR

• RECPDCL, wholly owned subsidiary of REC, transferred entire 50,000 equity shares each in two project SPVs along with assets and liabilities • Jam Khambhaliya Jamnagar Power Transmission Limited sold to Ceigall India Limited for ₹8.40 Cr including taxes • Lakadia II Power Transmission Limited sold to Power Grid Corporation of India Limited for ₹8.43 Cr including taxes • Buyers selected through tariff-based competitive bidding; share purchase agreements executed on October 12, 2026 • Turnover, revenue and net worth contribution from both SPVs was negligible in the last financial year • Buyers do not belong to promoter/promoter group; transaction is not a related party transaction

REC Ltd

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