Avenue Supermarts Limited's Nomination and Remuneration Committee has approved the grant of 50,000 stock options to an employee under the company's Employee Stock Option Scheme 2023. The approval was granted during the committee's meeting held on 2nd May, 2026, as disclosed to the stock exchanges under Regulation 30 of SEBI regulations.

Stock Option Grant Details

The granted options are structured under two distinct categories with different vesting timelines and conditions:

Vesting Schedule and Categories

The options are divided into two classes with separate vesting dates:

The vesting of these options will be subject to the option grantee meeting various performance parameters as determined by the Nomination and Remuneration Committee under the ESOP Scheme 2023.

Scheme Framework and Compliance

The Employee Stock Option Scheme 2023 operates in accordance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Each option granted can be converted into one fully paid-up equity share of the company.

The shareholders had previously approved the grant of up to 1,500,000 options to eligible employees of the company and subsidiary companies during the Annual General Meeting held on 10th August, 2023. Prior to this current grant, the company had already issued:

• 1,237,250 options on 1st September, 2023
• 125,000 options on 13th January, 2024

Exercise Terms and Conditions

Once vested, the option holder will have a three-month window to exercise the options by paying Rs. 4,080 per option. The exercise is contingent upon meeting the performance parameters established by the committee at the time of vesting.

The disclosure was made pursuant to SEBI regulations and the master circular dated 30th January, 2026, ensuring transparency in the company's employee benefit programs and stock option activities.

Avenue Supermarts Limited has announced significant leadership changes, including the cessation of an Independent Director and multiple senior management role transitions effective May 2026. The company communicated these changes to stock exchanges on 2nd May 2026, outlining both board-level and operational management restructuring.

Director Cessation

The Board of Directors took on record the conclusion of the second term of Mr. Chandrashekhar Bhave (DIN: 00059856) as an Independent Director on 16th May 2026. He will cease to hold office as an Independent Director with effect from the close of business hours on 16th May 2026. The Board placed on record their deep appreciation for the valuable contribution, guidance, and support rendered by Mr. Bhave during his tenure with the Company.

Senior Management Changes

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved several changes in Senior Management Personnel effective 2nd May 2026. These changes involve role transitions, additional responsibilities, and reporting structure modifications across key operational areas.

Key Personnel Transitions

Mr. Rohit Mundhra will transition from Internal Auditor to Regional Head - Operations (Rajasthan). Due to this change in role and reporting structure, he will cease to be Senior Management Personnel effective 2nd May 2026.

Mr. Ravi Sharma, currently Head - Risk and Compliance (Partner Ecosystem), will take on the additional role of Internal Auditor for financial year 2026-27. He will continue to be categorized as Senior Managerial Personnel. Mr. Sharma brings 35 years of leadership experience across automobile and retail sectors and has been associated with Avenue Supermarts for 17 years, having previously led finance and human resources functions.

Mr. Hitesh Shah, presently Head - Pharma Business, will assume oversight of Food Business in addition to Pharmacy Business. He will be re-designated as Chief Business Officer - Pharmacy and Food Services while continuing as Senior Managerial Personnel. Mr. Shah joined the company in March 2007 and has 36 years of experience across multiple industries.

Mr. Stephen Thomas, Head - Food Services, will report to Mr. Hitesh Shah and will cease to be Senior Managerial Personnel due to the change in his reporting structure.

Management Restructuring Overview

These organizational changes reflect the company's strategic approach to operational efficiency and management structure optimization. The transitions maintain continuity while redistributing responsibilities across key business functions including operations, audit, compliance, and business development.