KPI Green Energy Limited's Board of Directors, at its meeting held on May 15, 2026, approved two key directorial changes pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The board meeting commenced at 11:13 A.M. and concluded at 11:40 A.M. Both appointments were made based on the recommendation of the Nomination and Remuneration Committee and remain subject to the approval of the shareholders of the company.

Key Board Changes at a Glance

The following directorial appointments were approved at the May 15, 2026 board meeting:

Appointment of Mr. Rajesh Shrivastava as Whole Time Director

Mr. Rajesh Shrivastava joins KPI Green Energy as Additional Director and Whole Time Director with nearly 37 years of distinguished experience across the power, infrastructure, and renewable energy sectors. He has been associated with more than 30 GW of power projects across fossil fuel and renewable energy domains, including over 10 GW of renewable energy projects under development and execution.

His prior leadership roles span some of India's most prominent energy organisations:

• Reliance New Energy – President & Business Head, Renewable Energy Development, where he was involved in planning a renewable energy ecosystem in Kutch involving 150 GWp of solar capacity and large-scale BESS infrastructure across nearly 60,000 acres
• Aditya Birla Renewables – CEO, where he led scale-up of the renewable business portfolio from 600+ MW to over 3.0 GW within two and a half years
• Adani Green Energy – COO, where he led execution of three of India's largest hybrid renewable projects and contributed to the strategic vision of scaling the business toward 25 GW capacity
• Earlier roles at Toshiba JSW Power Systems, Toshiba India, LANCO Solar, TPSCI, and NTPC, covering large EPC projects in India and abroad

Mr. Shrivastava is a Gold Medalist in Civil Engineering and holds an M.Tech in Structures from IIT Mumbai. He has also completed executive management studies at INSEAD Singapore and was recognised among the Top 15 Global Leaders by Toshiba Corporation, Japan.

Re-appointment of Mrs. Venu Birappa as Independent Director

Mrs. Venu Birappa, who is being re-appointed for a second term of five consecutive years effective August 3, 2026, brings nearly four decades of experience in the power sector to the board. She holds a Bachelor's Degree in Electrical Engineering from Maharaja Sayajirao University Baroda, a Diploma in Management from Indira Gandhi National Open University, and a Bachelor of Laws (General) from Saurashtra University. She has also completed the Quality Management Systems Auditor/Lead Auditor Training based on ISO 9001:2005.

Mrs. Venu Birappa began her career in 1984 with the erstwhile Gujarat Electricity Board (GEB) and later served as Executive Engineer (Regulatory & Commerce) at Gujarat Energy Transmission Corporation Limited (GETCO) until July 2021. Her areas of expertise include:

• Regulatory, legal, financial, commercial, and technical aspects of transmission, system operation, and distribution
• Formulation of regulations under the Electricity Act, 2003
• Matters related to transmission agreements, capital cost approvals, tariff regulations, open access, intra-state ABT, and renewable energy
• Representation of GETCO before the Gujarat Electricity Regulatory Commission (GERC), the Appellate Tribunal for Electricity (APTTEL), the High Court, and the Supreme Court of India

Compliance and Disclosure

The disclosures pertaining to both appointments have been made in accordance with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, dated January 30, 2026. The communication was signed by Krunal Bhatt, Company Secretary & Compliance Officer of KPI Green Energy, on May 15, 2026.

KPI Green Energy Limited's Nomination and Remuneration Committee (Compensation Committee) of the Board of Directors approved the grant of 26,261 (Twenty Six Thousand Two Hundred Sixty One) stock options to an eligible employee of the company at its meeting held on May 15, 2026. The grant has been made under the KPI Green Energy Limited Employee Stock Option Plan 2023 ("KPI Green – ESOP 2023") and is in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The intimation was filed with stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Stock Option Grant

The following table summarises the key parameters of the stock option grant as disclosed by the company:

Vesting and Exercise Terms

All 26,261 stock options granted are subject to a minimum vesting period of one year and are scheduled to vest entirely at the end of the first year from the date of grant. Upon vesting, the eligible employee may exercise the options in whole or in part within a period of three months from the date of vesting. Any options not exercised within the exercise period shall lapse, and the employee shall have no right over such lapsed or cancelled options.

Significant Terms and Conditions

The key terms governing the stock options are as follows:

• Each stock option, upon exercise, converts into 1 (One) equity share of the company with a face value of Rs. 5/-.
• Shares issued upon exercise of options shall be freely transferable and shall not be subject to any lock-in period after exercise.
• Vesting of options may occur in one or more tranches, with a minimum vesting period of one year and a maximum vesting period not exceeding five years from the date of grant.
• Options not exercised within the exercise period shall lapse, with no residual rights for the employee over such options.

Regulatory Compliance

The grant has been made in adherence to the SEBI Master Circular dated January 30, 2026, bearing reference no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, issued by the Securities and Exchange Board of India. The detailed disclosure (Annexure – A) was submitted to BSE Limited and the National Stock Exchange of India Limited as required under applicable regulations. The intimation was signed by Krunal Bhatt, Company Secretary and Compliance Officer of KPI Green Energy Limited.