Mahindra & Mahindra Transfers 68,019 Equity Shares to 88 Employees Under ESOP Scheme

Mahindra & Mahindra transferred a total of 68,019 equity shares to 88 stock option grantees on May 14, 2026, through its Employees' Stock Option Trust. The transfer was executed pursuant to the exercise of stock options granted under the company's Employees' Stock Option Scheme, in compliance with undertakings given to the stock exchanges at the time of listing of the shares allotted to the Trust. The disclosure was communicated to the National Stock Exchange of India, BSE Limited, Luxembourg Stock Exchange, and London Stock Exchange Plc by Company Secretary Sailesh Kumar Daga.

ESOP Share Transfer Overview

The Mahindra & Mahindra Employees' Stock Option Trust transferred equity shares to eligible grantees as part of the company's ongoing employee stock ownership programme. A total of 88 individuals received shares, with individual allotments varying significantly across grantees. The following table provides a summary of key parameters of the transaction.

Parameter:	Details
Date of Transfer:	May 14, 2026
Total Equity Shares Transferred:	68,019
Total Number of Grantees:	88
Scheme:	Employees' Stock Option Scheme
Transferring Entity:	Mahindra & Mahindra Employees' Stock Option Trust

Complete List of Stock Option Grantees

The following table details all 88 grantees and the number of equity shares transferred to each individual, as disclosed in Annexure I of the company's regulatory filing.

Sr No:	Name	Total No. of Equity Shares
1	Nozar Bharucha	4500
2	Vivekanand Nimbalkar	574
3	Ganesh Shenoy Konchady	1344
4	Sanjay Kshirsagar	249
5	Yogesh Shrikhande	50
6	Rahul Chemburkar	100
7	Rajesh Jejurikar	3427
8	Balaji Iyer	440
9	Ashish Lath	350
10	Chandrakant Dhande	827
11	Mukund Paranjape	1300
12	Rajamohan Krishnamoorthy	400
13	Samir Rawte	282
14	Sai Ganesh Iyer	412
15	Basant Bhansali	250
16	Dileep Singh	100
17	Rehan Shaik	450
18	Rajinder Singh	1128
19	Yogesh Gandhi	500
20	Nitin Kulkarni	12
21	R Suresh Kumar	75
22	Rakesh Sharma	130
23	Thirunavukkarasu A	50
24	Vineet Arora	450
25	Mahendra Bhalerao	319
26	Sanjay Mate	48
27	Lakshmanan Ramesh	941
28	Deepak Jadhav	58
29	Amol Jadhav	60
30	Girish Bhangale	60
31	Kesavan G.	297
32	Ritesh Agrawal	1185
33	Kannan S	875
34	CP Bharath	270
35	Yogesh Shah	312
36	Swaroop Keskar	400
37	Ashish Saboo	953
38	Dattatray Thorat	106
39	Sanjiv Khetmar	155
40	Srikanth Chandram	89
41	Senthil Kumar T	305
42	Munish Punj	84
43	Viren Popli	4284
44	Dhananjaya Rao Boita	352
45	Yogaraja Venkatraman	800
46	Riyazuddin Mohammed	70
47	Uday Kulkarni	156
48	Sareen Kumar Ganja	56
49	Swaminathan Shankar	108
50	Sridhar Lingan	450
51	Abhay Goyal	14
52	Paresh Vanmali	102
53	Nipun Kashyap	32
54	Niteen Karve	60
55	K N Vaidyanathan	5768
56	Kishor Sankhe	400
57	Venkata Ramana Rao B.	82
58	Amit Agarwal	154
59	Roose Kuriakose	66
60	Shilpa Joshi	83
61	Sarveshwar Mulamalla	214
62	Ramesh P.V	21
63	Sangeetha R T	404
64	Vinod Sahay	1000
65	Suman Mishra	1927
66	Shivadas Nair	152
67	Vivekanand V	50
68	Abhishek Agarwal	200
69	Arthur Serrao	150
70	Manoj Chugh	6365
71	Deepan Sivraj	678
72	Vineet Joshi	500
73	Prateek Deo	1200
74	Sandip Bhangale	270
75	Lokraj B	27
76	Gautam Hardikar	250
77	Binoy Paul	1000
78	Mohit Kapoor	6564
79	Anusha Kothandaraman	2337
80	Reena Fernando	500
81	Shekhar Raghav	100
82	Ekta Roongta	650
83	Ankit Toddi	1500
84	Abanti Sankaranarayanan	2235
85	Nalinikanth Gollagunta	1801
86	Subhrangsu Mitra	406
87	Manoj Harlalka	128
88	Arup Halder	436
Total		68,019

Regulatory Compliance and Disclosure

The transfer was disclosed by Mahindra & Mahindra in accordance with its listing obligations. The communication, bearing reference number M&M/SEC/2026-27/030 and dated May 14, 2026, was addressed to the National Stock Exchange of India and BSE Limited, with copies marked to the Luxembourg Stock Exchange and London Stock Exchange Plc. The filing was signed by Sailesh Kumar Daga, Company Secretary (FCS: 4164), on behalf of Mahindra & Mahindra Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.60%	-7.35%	-3.02%	-15.56%	+0.69%	+321.19%

Mahindra & Mahindra has disclosed that its wholly owned subsidiary, Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), has completed the sale of its remaining stake in CIE Automotive S.A., a Spain-based automotive company. The transaction was intimated to stock exchanges on 14th May 2026 under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Stake Sale Details

The divestment marks the conclusion of MOICML's shareholding in CIE Automotive S.A. The key parameters of the transaction are outlined below:

Parameter	Details
Subsidiary Involved	Mahindra Overseas Investment Company (Mauritius) Limited (MOICML)
Target Company	CIE Automotive S.A. (CIE Spain)
Stake Divested	3.58% of outstanding shares
Total Consideration	Approximately EUR 126 million
Post-Transaction Holding	Nil
Disclosure Date	14th May 2026
Regulatory Reference	Regulation 30, SEBI LODR Regulations

Impact on Associate Status

Following the completion of this transaction, MOICML's holding in CIE Automotive S.A. will become nil. Consequently, CIE Automotive S.A. will cease to be an associate of MOICML. This divestment is in furtherance of a prior communication dated 4th December 2025, indicating that the exit from CIE Automotive S.A. has been executed in a phased manner.

Regulatory Compliance

The disclosure was made in compliance with the applicable provisions of the SEBI LODR Regulations. The intimation has also been uploaded on Mahindra & Mahindra's official website. The communication was signed by Sailesh Kumar Daga, Company Secretary (FCS: 4164), on behalf of Mahindra & Mahindra Limited.