SJVN Limited has announced significant changes in its senior management structure due to the superannuation of two key executives. The company has informed stock exchanges about these leadership transitions as part of its regulatory compliance obligations under SEBI guidelines.

Management Transition Details

The power generation company disclosed that two senior executives will be stepping down from their positions due to superannuation. Both departures are scheduled for the same date, marking a notable transition in the company's leadership structure.

*with effect from close of business hours

Regulatory Compliance

The announcement was made in strict compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references the SEBI Master Circular titled "Master circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by listed entities" dated November 11, 2024.

Corporate Communication

The formal communication was signed by Soumendra Das, Company Secretary, and submitted to both the National Stock Exchange of India Limited and BSE Limited. The document was digitally signed on February 27, 2026, at 11:31:11 +05'30', ensuring proper authentication and timestamp verification.

Market Disclosure

As a listed entity, SJVN Limited is required to promptly disclose material changes in senior management to ensure transparency for investors and stakeholders. The company has fulfilled this obligation by providing clear details about the nature and timing of these management changes to both major stock exchanges where its shares are traded.

SJVN Limited has announced the extension of additional charge of Director (Finance) to Shri Sipan Kumar Garg, effective March 01, 2026. The appointment, approved by the Ministry of Power through an order dated February 26, 2026, extends his tenure for three months or until a full-time incumbent is appointed, whichever is earliest.

Leadership Appointment Details

The extension was communicated to stock exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table summarizes the key appointment details:

Professional Background and Qualifications

Shri Sipan Kumar Garg brings over 24 years of distinguished experience in the Indian power sector to his extended role. He currently serves as Director (Finance) at THDC India Limited since August 17, 2024, and assumed additional charge as Chairman & Managing Director of THDC India Limited on November 25, 2025.

His academic and professional qualifications include:

• B.Com (Hons.) degree
• Member of Institute of Chartered Accountants of India (CA)
• Member of Institute of Cost Accountants of India (CMA)
• Member of Institute of Company Secretaries of India (CS) - rank holder
• LL.B. (Law) degree

Career Experience and Expertise

Prior to his current role, Shri Garg held key leadership positions within the NTPC Group, including Chief Financial Officer at Aravali Power Company Private Limited and Patratu Vidyut Utpadan Nigam Limited. He also contributed significantly to NTPC's Corporate Accounts Group and the Koldam Hydro Power Project.

Under his financial leadership, organizations achieved the highest ever credit rating and significant savings in interest costs on long-term debt, demonstrating his strategic ability in financial restructuring.

Professional Contributions and Recognition

Shri Garg has enhanced his professional skills through advanced programs, seminars, and workshops at national and international institutions. He has gained recognition as an experienced speaker on accounting standards, Ind AS, and financial best practices.

He has contributed to the professional community through active participation in important committees of the Institute of Chartered Accountants of India:

• Public Finance and Government Accounting Committee
• Accounting Standards Study Group
• Member (Industry) Group (PSU)

Current Leadership Roles

In addition to his role at SJVN Limited, Shri Garg serves as Chairman of THDC India Limited's subsidiaries, including Tusco Limited, Tradeco Rajasthan Limited, and THDCIL-UJVNL Energy Company Limited.

The company confirmed that Shri Garg is not related to any director on the Board and is not debarred from holding the office of Director by any regulatory authority. His appointment reflects SJVN's commitment to maintaining strong financial leadership and operational excellence in line with India's evolving energy sector requirements.