Nuvama Wealth Management has commenced the remote e-voting process to seek shareholder approval for special resolutions via postal ballot. The voting facility is available from July 3, 2026, at 9:00 a.m. until August 1, 2026, at 5:00 p.m. Members recorded in the Register of Members or the list of Beneficial Owners as of the cut-off date, June 25, 2026, are eligible to vote on the specified business.

The company dispatched the notice of postal ballot on July 1, 2026, through electronic mode to members with registered email addresses. Physical copies of the notice and postal ballot forms have not been dispatched; communication of assent or dissent will occur exclusively through the remote e-voting system. The results of the postal ballot will be declared by the Chairperson or an authorized person and displayed on the company's website and the stock exchanges.

Key Voting Details

The Board of Directors has appointed CS Nilesh Shah, or alternatively CS Mahesh Darji or CS Hetal Shah of M/s. Nilesh Shah and Associates, as the Scrutinizer to oversee the postal ballot remote e-voting process. Once a vote is cast, members cannot change their vote or cast it again. The proposed special resolutions, if approved, will be considered passed on the last date of remote e-voting by the requisite majority.

Nuvama Wealth Management has intimated the stock exchanges regarding the publication of advertisements in newspapers intimating the dispatch of its Postal Ballot Notice. The advertisements were published on July 2, 2026, in The Financial Express (all India editions) and Navshakti (all editions). The notice seeks shareholder approval for the Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026 (ESAR 2026) and special resolutions to revise the remuneration of Mr. Ashish Kehair, Managing Director and Chief Executive Officer, and Mr. Shiv Sehgal, Executive Director.

The ESAR 2026 aims to incentivize eligible employees across the company, its subsidiaries, and associate companies by granting up to 1,37,00,000 ESARs, representing approximately 7.5% of the current outstanding paid-up share capital. The settlement is linked to the appreciation component rather than the full value of the underlying equity shares, with an estimated dilution of approximately 3.0% to 3.5% based on an assumed annual share price appreciation of 25%. The grant horizon is approximately 4 to 5 years, with vesting periods ranging from 1 to 6 years and an exercise period of 1 to 5 years.

The pricing formula for the ESARs will be equal to the market price of the equity shares, subject to a discount of up to 10% as determined by the Nomination and Remuneration Committee. The scheme is compliant with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Key Details of ESAR 2026

For Mr. Kehair, the revised remuneration includes a salary not exceeding ₹5.50 crores per annum and a performance bonus of up to 3 times the salary. For Mr. Sehgal, the revised remuneration includes a salary not exceeding ₹4 crores per annum and a performance bonus of up to 3 times the salary. The Board has authorized annual increments not exceeding 12% of the salary for both executives during their tenure.

MUFG Intime India Private Limited has been engaged as the Registrar and Share Transfer Agent to facilitate the remote e-voting process. The scrutinizer for the postal ballot process is CS Nilesh Shah or CS Mahesh Darji or CS Hetal Shah of M/s. Nilesh Shah and Associates. The notice was dispatched electronically on July 1, 2026, to members whose email addresses were registered as on the cut-off date of June 25, 2026.