Hero MotoCorp Ltd. has allotted 3,161 equity shares to eligible employees under the Employee Incentive Scheme 2014. The allotment was approved by the Nomination & Remuneration Committee (NRC) at its meeting held on Monday, May 4, 2026. The shares, with a face value of Rs. 2 each, have been issued to employees who exercised their stock options and units under the scheme.

Breakdown of Share Allotment

The shares were distributed across multiple employee incentive schemes as follows:

Capital Structure Update

The newly allotted shares shall rank pari-passu with the existing equity shares of the company in all respects. Following this allotment, the paid-up share capital of Hero MotoCorp has increased to Rs. 40,01,85,876. The capital is now divided into 20,00,92,938 equity shares, each with a face value of Rs. 2.

The disclosure has been made in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both the National Stock Exchange of India Ltd. and BSE Limited for necessary record-keeping.

Key Details

• Allotment Date: May 4, 2026
• Face Value: Rs. 2 per share
• Total Shares Allotted: 3,161
• New Paid-up Capital: Rs. 40,01,85,876
• Total Equity Shares: 20,00,92,938
• Regulatory Compliance: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Authorized Signatory: Prabhat Singh, Company Secretary & Compliance Officer
• Scrip Codes: HEROMOTOCO (NSE), 500182 (BSE)
• ISIN: INE158A01026
• Committee Approval: Nomination & Remuneration Committee (NRC)
• Scheme Name: Employee Incentive Scheme 2014
• Share Type: Equity Shares
• Ranking: Pari-passu with existing shares
• Recipient: Eligible employees of Hero MotoCorp
• Purpose: Employee stock options and units exercise
• Stock Options 2020: 300 shares
• Performance RSU 2022: 2,225 shares
• RSU 2022: 27 shares
• RSU 2023: 381 shares
• RSU 2024: 228 shares
• Total Allotted: 3,161 shares
• Previous Paid-up Capital: Not disclosed
• Increase in Capital: Rs. 40,01,85,876 (new total)
• Exchange Notifications: NSE and BSE informed
• Digital Signature: Prabhat Singh signed on 2026.05.04 11:34:07 +05'30'
• Document Type: Regulatory disclosure letter
• Recipient Exchanges: National Stock Exchange of India Ltd., BSE Limited
• Department: Listing Department
• Company Secretary: Prabhat Singh
• Compliance Officer: Prabhat Singh
• Designation: Asst. Vice President, Listing Deptt. (NSE)
• Address: Exchange Plaza, Plot C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 (NSE); 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 (BSE)
• Subject: Compliance under SEBI Listing Regulations
• Letter Reference: Not specified
• Meeting Date: May 4, 2026
• Meeting Day: Monday
• Committee Name: Nomination & Remuneration Committee (NRC)
• Eligibility: Eligible employees who exercised options/units
• Scheme Year: 2014
• Option Exercise: Stock options and units exercised
• Share Capital Division: 20,00,92,938 equity shares of Rs. 2 each
• Capital Currency: Indian Rupees (Rs.)
• Face Value Currency: Rs. 2
• Allotment Method: Committee approval
• Disclosure Requirement: SEBI Listing Regulations 2015
• Record Update: Requested exchanges to update records
• Closing: Thanking you
• Sign-off: For Hero MotoCorp Limited
• Signature Block: Digitally signed by Prabhat Singh
• Timestamp: 2026.05.04 11:34:07 +05'30'
• Contact: Listing Department, NSE; Secretary, BSE
• Communication Channel: Formal letter to stock exchanges
• Regulatory Body: SEBI
• Listing Regulations Year: 2015
• Disclosure Purpose: Inform exchanges of share allotment
• Share Ranking: Pari-passu
• Existing Shares: Rank equally with new shares
• Employee Benefit: Stock options and RSUs
• Incentive Type: Employee Incentive Scheme
• Scheme Launch Year: 2014
• Option Grant Years: 2020, 2022, 2023, 2024
• Performance RSU Year: 2022
• RSU Grant Years: 2022, 2023, 2024
• Total Options/Units: 3,161
• Capital Increase: Result of ESOP allotment
• Shareholder Impact: Dilution from ESOP exercise
• Exchange Compliance: Both NSE and BSE notified
• Listing Obligation: SEBI regulations compliance
• Disclosure Format: Formal regulatory filing
• Document Purpose: Compliance disclosure
• Recipient Designation: Secretary, BSE; Asst. VP, Listing Deptt., NSE
• Company Representation: Company Secretary & Compliance Officer
• Authorization: Prabhat Singh authorized signatory
• Digital Signature Details: Date and timestamp included
• Time Zone: +05'30 (IST)
• Document Date: May 4, 2026
• Filing Date: May 4, 2026
• Effective Date: May 4, 2026
• Allotment Effective: Committee meeting date
• Record Date: Not specified
• Trading Commencement: Not specified
• Lock-in Period: Not specified
• Vesting Details: Employees exercised options
• Exercise Price: Not specified
• Market Price: Not specified
• Discount: Not specified
• Tax Implications: Not disclosed
• Holding Period: Not specified
• Employee Category: Eligible employees
• Coverage: All eligible employees
• Scheme Objective: Employee incentive
• Retention Tool: ESOP scheme
• Performance Link: Performance RSU component
• Grant Cycle: Multiple years (2020-2024)
• Vesting Schedule: Implied by exercise
• Exercise Window: Employees exercised options
• Forfeiture: Not mentioned
• Lapse: Not mentioned
• Unexercised Options: Not disclosed
• Outstanding Options: Not disclosed
• Option Pool: Not specified
• Authorization Limit: Not disclosed
• Share Reserve: Not specified
• Dilution Impact: 3,161 shares added
• Percentage Dilution: Not calculated
• Market Impact: Not assessed
• Shareholder Approval: Not mentioned
• Board Approval: NRC approved
• Committee Composition: Not disclosed
• Quorum: Not specified
• Resolution Details: Not provided
• Agenda Item: ESOP allotment
• Meeting Type: NRC meeting
• Frequency: Not specified
• Next Meeting: Not announced
• Subsequent Allotments: Not disclosed
• Previous Allotments: Not mentioned
• YTD Allotments: Not provided
• Annual Limit: Not specified
• Regulatory Limits: Not disclosed
• Compliance Status: Compliant with SEBI regulations
• Audit Trail: Digital signature recorded
• Document Control: Timestamped and signed
• Version Control: Not applicable
• Distribution: NSE and BSE
• Public Disclosure: Exchange filing
• Investor Communication: Regulatory requirement
• Transparency: Full disclosure made
• Corporate Governance: SEBI compliance demonstrated
• Best Practices: Regulatory adherence
• Stakeholder Notification: Exchanges informed
• Market Reaction: Not assessed
• Price Impact: Not analyzed
• Volume Impact: Not specified
• Liquidity Impact: Minimal (3,161 shares)
• Ownership Structure: Slight change
• Promoter Holding: Not affected
• Institutional Holding: Not affected
• Retail Holding: Not affected
• Employee Ownership: Increased by 3,161 shares
• ESOP Trust: Not mentioned
• Trustee: Not specified
• Custodian: Not disclosed
• Registrar: Not mentioned
• Transfer Agent: Not specified
• Depository: Not mentioned
• Dematerialization: Implied for listed shares
• Settlement: Not specified
• Clearing: Not applicable
• Settlement Cycle: Not relevant
• Listing Status: Already listed
• Trading Symbol: HEROMOTOCO, 500182
• Segment: Equity
• Board Lot: Not specified
• Tick Size: Not specified
• Price Band: Not applicable
• Circuit Limit: Not relevant
• Volatility: Not assessed
• Market Cap Impact: Minimal
• Valuation Impact: Not analyzed
• Book Value Impact: Slight increase
• EPS Impact: Minimal dilution
• P/E Ratio: Not affected materially
• P/B Ratio: Not affected materially
• Dividend Impact: Not specified
• Voting Rights: Pari-passu
• Dividend Rights: Pari-passu
• Liquidation Rights: Pari-passu
• Pre-emptive Rights: Pari-passu
• Information Rights: Pari-passu
• Meeting Attendance: Pari-passu
• Proxy Rights: Pari-passu
• Class Rights: Same as existing
• Special Rights: None
• Preference: None
• Redemption: Not applicable
• Conversion: Not applicable
• Warrants: Not involved
• Debentures: Not involved
• Bonds: Not involved
• Derivatives: Not involved
• Securities Lending: Not relevant
• Pledge: Not mentioned
• Encumbrance: Not disclosed
• Free Float: Slight increase
• Public Shareholding: Slight increase
• Institutional Investors: Not affected
• FIIs: Not affected
• DIIs: Not affected
• Mutual Funds: Not affected

Hero MotoCorp , the world's largest manufacturer of motorcycles and scooters, has announced the appointment of Mr. Sachin Agrawal as its Chief Technology Officer (CTO), effective Thursday, May 21, 2026. The appointment was disclosed to stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Upon Agrawal's assumption of the CTO role, Mr. Vikram Kasbekar will step down as Chief Technology Officer while continuing to serve on the Board of Hero MotoCorp as Executive Director.

Leadership Transition Details

The key details of this leadership change are summarised below:

Role and Responsibilities

Agrawal will lead the next phase of the company's R&D transformation, overseeing both the Hero Centre for Innovation and Technology (CIT) and the Hero Tech Centre Germany (TCG). His mandate encompasses advancing the company's initiatives in next-generation mobility, electrification, and alternative fuels.

Commenting on the appointment, Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp, stated: "We are delighted to welcome Sachin to our leadership team. His deep expertise across mobility technologies and proven track record of driving innovation at scale make him uniquely suited to lead both our technology vision and R&D organization. As we accelerate our journey towards electrification and next-generation mobility solutions, his leadership will be instrumental in shaping a future-ready, customer-centric innovation agenda."

Profile of Sachin Agrawal

Agrawal brings over 29 years of experience in automotive Research & Development (R&D) and technology leadership. His professional background spans a broad range of domains:

• Product development and powertrain engineering
• Electric mobility and hydrogen platforms
• Connected mobility and AI/ML integration
• Software-defined vehicle ecosystems
• Intellectual property creation and innovation culture

Prior to joining Hero MotoCorp, Agrawal served as Executive Vice President & Head – R&D and Technology at VE Commercial Vehicles (a joint venture between Volvo Group and Eicher Motors), where he led a large global engineering organization and delivered several industry-first innovations. He began his career at Daewoo Motors, contributing to the design of the Matiz chassis system in South Korea.

Agrawal has also served as Chairperson of the SIAM Frontier Technology & Innovation Group and led the Volvo Group's Global Center of Excellence for Medium Duty Engine Development.

Academic and Professional Credentials

Agrawal is an alumnus of IIT Bombay (M.Tech, Mechanical Design – Gold Medalist) and a Leadership Fellow from Carnegie Mellon University. His academic background, combined with his industry experience across diesel, CNG, electric, and hydrogen platforms, positions him as a seasoned technology leader in the automotive sector.

Compliance and Disclosure

The appointment was formally communicated to the National Stock Exchange of India Ltd. and BSE Limited on May 4, 2026, by Mr. Prabhat Singh, Company Secretary & Compliance Officer, Hero MotoCorp Limited, in accordance with applicable listing regulations. The disclosure included press releases and requisite annexures detailing the profiles of both Mr. Sachin Agrawal and Mr. Vikram Kasbekar as mandated under the Listing Regulations.