Firstsource solutions Limited has announced key board changes following approval for independent director appointments and re-appointments. The decisions were made based on recommendations from the Nomination and Remuneration Committee and approved through board circulation on 5th March 2026.

Board Approvals and Director Appointments

The board has approved two significant independent director changes:

Both directors will be permitted to continue holding office beyond the age of 75 years until the expiry of their respective proposed terms.

Postal Ballot Notice Modification

The company has issued a modified postal ballot notice seeking member approval for these appointments. This notice modifies an earlier communication dated 3rd February 2026. The postal ballot will seek shareholder approval for:

• Re-appointment of Dr. Rajiv Kumar for his second term
• Appointment of Mr. Paras Kumar Chowdhary as Independent Director
• Authorization for both directors to continue beyond age 75

Director Profiles and Experience

Dr. Rajiv Kumar

Dr. Rajiv Kumar brings extensive experience across academia, government, and industry. He currently serves as Chairman of Pahle India Foundation and is a Member of the Global Leadership Council, GASP, New York. His previous roles include Vice Chairman of NITI Aayog, Director & CEO of ICRIER, and positions with multilateral institutions including the Asian Development Bank. He holds a Ph.D in Economics from Lucknow University and a D.Phil from Oxford University.

Mr. Paras Kumar Chowdhary

Mr. Paras Kumar Chowdhary, aged 74 years, is a science graduate with over 45 years of experience in strategies, finance, sales and marketing. His senior management experience includes serving as Managing Director of CEAT Limited and President & Whole-time Director of Apollo Tyres Limited. He currently serves as a Director on various company boards including CEAT Limited and RPG Enterprises Limited.

Regulatory Compliance

The disclosure has been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both directors are confirmed as not being debarred from holding director positions by SEBI or any other authority. Neither director has relationships with existing company directors.

The detailed information is available on the company's investor relations website, ensuring transparency in the appointment process and compliance with regulatory requirements.

Firstsource solutions has completed the allotment of 54,254 equity shares under its employee stock option plans on March 2, 2026. The allotment was executed pursuant to the company's Employee Stock Option Scheme 2003 (ESOS 2003) and Employee Stock Option Plan 2019 (ESOP 2019 Plan).

Stock Option Exercise Details

The allotment follows the exercise of stock options granted under the company's ESOP 2019 Plan. The Trustees of Firstsource Employee Benefit Trust provided their approval for the allotment at 1.45 p.m. on March 2, 2026.

Employee Stock Option Plans

The allotment was conducted under two distinct employee stock option plans:

• Firstsource Solutions Employee Stock Option Scheme 2003 (ESOS 2003)
• Firstsource Solutions Limited Employee Stock Option Plan 2019 (ESOP 2019 Plan)

The exercise of options was specifically related to the ESOP 2019 Plan, demonstrating the company's continued commitment to employee participation in equity ownership.

Regulatory Compliance

The company has informed both the National Stock Exchange of India Limited and BSE Limited about this allotment in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. This disclosure ensures transparency in corporate actions and keeps stakeholders informed about changes in the company's share capital structure.