The Board of Directors of Azad Engineering Limited, at its meeting held on Tuesday, May 12, 2026, approved the re-appointment of three Whole-Time Directors for five-year terms commencing September 13, 2026. The re-appointments — covering Mr. Rakesh Chopdar, Mrs. Jyoti Chopdar, and Mr. Vishnu Malpani — are each subject to the approval of shareholders and will be tabled at the company's ensuing Annual General Meeting. The board meeting commenced at 4:37 P.M. (IST) and concluded at 4:47 P.M. (IST).

Re-appointment Details at a Glance

The following table summarises the key details of the three re-appointments approved by the board:

Mr. Rakesh Chopdar — Executive Chairman and CEO

Mr. Rakesh Chopdar is a first-generation entrepreneur and the founder of Azad Engineering. He established the company in 2008 in Hyderabad, India, starting as a CNC machine operator. Over the past 17 years, he has built Azad Engineering into a globally recognised manufacturer of highly engineered, critical components for the Aerospace, Defence, Energy, and Oil & Gas sectors. The company today serves major global OEMs including GE Vernova, Mitsubishi, Siemens, Toshiba, MAN, Doosan Skoda, GE Aviation, Boeing, Honeywell, Eaton, Rolls Royce, Pratt & Whitney, Rafael, BHEL, HAL, and Baker Hughes, among others. Mr. Rakesh Chopdar is the spouse of Mrs. Jyoti Chopdar, Whole-Time Director of the company, and is not related to any other director. He is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.

Mrs. Jyoti Chopdar — Whole-Time Director

Mrs. Jyoti Chopdar holds a Bachelor of Arts degree from Kurukshetra University. She has served the company for over eight years, providing strategic oversight of general administrative operations. Her leadership has been instrumental in streamlining the company's administrative functions and processes. Mrs. Jyoti Chopdar is the spouse of Mr. Rakesh Chopdar, Whole-Time Director designated as Executive Chairman, and is not related to any other director of the company. She is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.

Mr. Vishnu Malpani — Whole-Time Director

Mr. Vishnu Malpani serves as an Executive Director at Azad Engineering, where he drives enterprise strategy, capital formation, and organisational scale-up. His responsibilities encompass decisions related to customers, contracts, capital, capability, and capacity, ensuring strategic alignment across commercial, operational, and financial priorities. Mr. Malpani holds a Bachelor of Technology degree from the Indian Institute of Technology (IIT) Guwahati and has attended executive leadership programmes at ISB Hyderabad and IIM Ahmedabad. He is not related to any other director of the company and is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.

Regulatory Compliance

The re-appointments have been disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/1/3762/2026 dated January 30, 2026. Detailed annexures pertaining to each re-appointment have been filed with the stock exchanges as required under the applicable regulatory framework. The company will seek shareholders' formal approval for all three re-appointments at its ensuing Annual General Meeting.

Azad Engineering Limited's Nomination and Remuneration Committee (NRC) of the Board of Directors convened on May 12, 2026, and approved the grant of 80,000 (Eighty Thousand) employee stock options under the 'Azad ESOP Scheme 2024' (ESOP 2024). The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in accordance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The NRC meeting commenced at 3:36 P.M. (IST) and concluded at 4:02 P.M. (IST).

ESOP Grant Details

The grant was made within the shareholders' approved limit of 11,82,259 (Eleven Lakh Eighty-Two Thousand Two Hundred Fifty-Nine) options, as authorised at the Extra-Ordinary General Meeting held on January 28, 2025. The key parameters of the grant are presented below:

Vesting and Exercise Terms

The granted options are subject to a structured vesting and exercise schedule as determined by the NRC. Key terms include:

• Vesting Commencement: Options will start vesting after a period of one (1) year from the date of grant.
• Exercise Window: Vested options may be exercised in one or more tranches on April 1 or September 1 (or such other date as the NRC may permit), within a period of one year from the date of vesting or such extended period as the NRC may permit.
• Lock-in: Equity shares arising out of the exercise of vested options shall not be locked in.
• Eligibility: The grant of options is based upon the eligibility criteria mentioned in ESOP 2024.

Scheme Administration

The ESOP 2024 is administered and implemented by the NRC of the Board of Directors in accordance with the scheme's terms. Upon vesting, each option entitles the holder to acquire an equal number of equity shares, subject to payment of the exercise price and applicable taxes as per the terms and conditions of ESOP 2024. The vesting schedule and vesting conditions are determined by the NRC at the time of grant. The scheme is compliant with SEBI (Share Based Employee Benefits) Regulations, 2021.