GULFPETRO : ACQUIRES STAKE IN INCUBIT PIPAVAV TERMINAL FOR RS 44.27 CR

• Board approved acquisition of equity shares (Sale Shares) of Incubit Pipavav Terminal Private Limited from existing shareholders (Selling Shareholders) • Aggregate consideration at ₹44.27 Cr, subject to change in valuation of IPTPL shares, payable in multiple tranches over one year • Acquisition to be funded from internal reserves as a strategic investment in terminal and related infrastructure • Board approved execution of transaction documents and SHA governing rights of the company and other shareholders vis-à-vis IPTPL • Arjun Verma resigns as CFO w.e.f. October 15, 2026; continues as Executive Director and Key Managerial Personnel • Shirish Suvagia appointed CFO and KMP w.e.f. October 15, 2026

GP Petroleums Ltd

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