UPL Limited has announced a significant change in its senior management structure with the superannuation of a key executive who has been instrumental in the company's commercial growth over more than three decades.

Senior Management Transition

The company informed stock exchanges on April 1, 2026, that Mr. Farokh Hilloo, Chief Commercial Officer for the Crop Protection business, superannuated from his position effective March 31, 2026. This announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Career Contributions and Legacy

Mr. Hilloo's career with UPL spans an extraordinary period of more than thirty-five years, during which he established himself as a defining force behind the company's commercial success. His contributions have been particularly significant in several key areas:

• Geographical Expansion: Led initiatives to expand UPL's footprint across multiple geographies
• Strategic Acquisitions: Played a crucial role in multiple acquisitions that strengthened the company's market position
• Value Creation: Consistently drove value creation for both customers and the UPL Group
• Commercial Leadership: Provided strategic direction for the Crop Protection business segment

Continued Association

Despite his superannuation from the executive role, Mr. Hilloo will maintain his connection with UPL in a strategic advisory capacity. This arrangement ensures that the company continues to benefit from his extensive experience and industry knowledge accumulated over his distinguished career.

Regulatory Compliance

The announcement was formally communicated to both BSE Limited and the National Stock Exchange of India Ltd through a regulatory filing signed by Sandeep Deshmukh, Company Secretary and Compliance Officer. This disclosure fulfills the company's obligations under SEBI's listing regulations regarding changes in senior management personnel.

The transition represents the end of an era for UPL's commercial operations while ensuring continuity through Mr. Hilloo's ongoing advisory role.

UPL Limited successfully conducted its Extraordinary General Meeting on March 31, 2026, securing shareholder approval for all 11 proposed resolutions related to material related party transactions. The meeting was held through video conferencing in compliance with regulatory requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating strong shareholder support for the company's strategic inter-subsidiary arrangements.

Meeting Overview and Participation

The EGM commenced at 3:30 p.m. (IST) and concluded at 4:13 p.m., with Mr. Vikram Shroff, Vice-Chairman & Co-CEO, chairing the meeting in the absence of Mr. Jaidev R. Shroff, Chairman and Group CEO. The meeting saw participation from 77 shareholders through video conferencing, comprising 12 promoter group members and 65 public shareholders.

Comprehensive Approval of Related Party Transactions

All 11 ordinary resolutions received overwhelming shareholder support, with approval rates exceeding 99.99% from voting shareholders. The resolutions encompassed various aspects of inter-subsidiary operations, including material sales, functional support services, corporate guarantees, and investment proposals.

Key Resolution Categories Approved:

• Sale of materials and functional support services by UPL Limited to subsidiaries
• Inter-subsidiary material transactions across European operations
• Corporate guarantee arrangements between UPL Corporation entities
• Centralized treasury operations for financial support among subsidiaries
• Investment approvals for subsidiary funding initiatives

Detailed Voting Results and Shareholder Response

The voting process combined remote e-voting (March 27-30, 2026) and electronic voting during the meeting. Public institutional investors showed particularly strong participation, with 95.24% of their shareholding participating in the voting process.

Regulatory Compliance and Documentation

The company maintained full regulatory compliance throughout the process, with Mr. Bhaskar Upadhyay of N L Bhatia & Associates serving as the appointed scrutinizer. The scrutinizer's report confirmed that all resolutions were passed with requisite majority, ensuring transparency in the voting process. Company Secretary Sandeep Deshmukh coordinated the proceedings and filed the necessary documentation.

Filing and Disclosure Requirements

Pursuant to Regulations 30 and 44(3) of SEBI regulations, the company submitted comprehensive documentation including:

• Summary of proceedings of the EGM
• Detailed voting results for all resolutions
• Consolidated scrutinizer's report on e-voting
• Publication in Financial Express and Western Times newspapers

The meeting proceedings, voting results, and scrutinizer's report were made available on the company's website at www.upl-ltd.com/investors/shareholder-center/shareholder-meeting and filed with BSE Limited, National Stock Exchange of India Limited, London Stock Exchange, Singapore Stock Exchange, and NSE IX, maintaining full disclosure standards for shareholders and regulatory authorities.