Company Update

__________________________________________________________________________________________________________________________________ Corporate Office: Phone : + 91 265 2317777 Reg.Office & Works: CIN : L27104GJ1972PLC002153 Landmark, 7th Floor, Fax : + 91 265 2317705 GIDC Industrial Estate, Phone : + 91 2676 230777 Race Course Circle, Kalol – 389 330, Fax : + 91 2676 230889 Vadodara – 390 007 Dist : Panchmahals, E-mail : panchmahal@panchmahalsteel.co.in Gujarat, India.

Gujarat, India.

Web : www.panchmahalsteel.co.in PSL/CS/BSE/REG-30/24-25 30th May, 2025 Corporate Relationship Department BSE Limited 1st Floor, P. J. Towers Dalal Street, Mumbai - 400 001. COMPANY CODE NO:- 4166 (SCRIP CODE : 513511) Dear Sir, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”), this is to inform you that BSE Limited has vide e-mail dtd.

May 29, 2025, again imposed a fine of Rs.132,160/- (inclusive of GST) for non-compliance with the constitution of nomination and remuneration committee under Regulation 19(1)/19(2) of the SEBI Listing Regulations, during the part period of quarter ended 31st March, 2025. The details as required under SEBI Listing Regulations read with Circular no. SEBI/HO/CFD/CFD-PoD- 2/CIR/P/2024/185 dated December 31, 2024 are as under : Name(s) of the Authority BSE Limited Nature and details of the action(s) taken or order(s) passed Fine of Rs.1,32,160/- (inclusive of GST) payable within 15 days from the date of letter/email.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority Through e-mail on 29th May, 2025 at 6.08 p.m.

Details of the violation(s) /contravention(s) committed or alleged to be committed Regulation 19(1)/ 19(2) Non-compliance with the constitution of nomination and remuneration committee for part period of quarter ended March 31, 2025. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible Nil, except to the extent of penalty amount imposed by BSE Limited.

Contd... ----------------Page (0) Break---------------- __________________________________________________________________________________________________________________________________ Corporate Office: Phone : + 91 265 2317777 Reg.Office & Works: CIN : L27104GJ1972PLC002153 Landmark, 7th Floor, Fax : + 91 265 2317705 GIDC Industrial Estate, Phone : + 91 2676 230777 Race Course Circle, Kalol – 389 330, Fax : + 91 2676 230889 Vadodara – 390 007 Dist : Panchmahals, E-mail : panchmahal@panchmahalsteel.co.in Gujarat, India.

Gujarat, India.

Web : www.panchmahalsteel.co.in We reiterate that the omission had occurred inadvertently by oversighting the amended Listing Regulations and upon receiving the first discrepancy notice dtd.

25.02.2025 from BSE Limited, the Board had taken cognizance of the non-compliance, and immediately re-constituted the Nomination & Remuneration Committee to align with the requirements of Regulation 19(1)(c) by removing one Non- Executive Non-Independent Director from the Committee with effect from 26th February, 2025. Consequently, the Company complied with Regulation 19(1)(c) of SEBI (LODR) Regulations, 2015. Thereafter, BSE Limited had imposed a fine of Rs.11,800/- (inclusive of GST) for the aforesaid non- compliance for the entire quarter ended 31st December, 2024 and the same was duly paid by the Company.

Now, in their latest email dated 29th May 2025, BSE Limited has once again levied an additional fine of Rs.1,32,160/- (inclusive of GST) for a part period of non-compliance during the quarter ended 31st March, 2025. The Company is in the process of filing an application for waiver of this additional fine imposed by the Stock Exchanges.

It is respectfully submitted that the Company remains committed to maintain the highest standard of compliance and to strengthen the corporate governance framework.

Kindly note of the above information on record.

Thanking You, Yours faithfully For PANCHMAHAL STEEL LIMITED Deepak Nagar GM (Legal) & Company Secretary E-mail : shares@panchmahalsteel.co.in ----------------Page (1) Break----------------