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& Mahindra Financial Services 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1: Pursuant to Section 2(pp) of the SEBI (ICDR) Regulations, 2018, Mahindra & Mahindra Financial Services Limited ( "MMFSL") and its subsidiaries forms part of the Promoter Group. However, on the account of section 19 of the Companies Act, 2013 which prohibits subsidiaries from holding shares in its holding company they are excluded from the list of Promoter Group for the purpose of disclosure in shareholding patter. Note 2: The Companys currently active ESOP schemes ( ESOP 2010 and RSU Plan 2023) are administered through Mahindra & Mahindra Financial Services Ltd. Employees Stock Option Trust (Trust) via Trust Route, wherein shares are issued to Trust via primary issuance by the Company. On exercise of vested options, the Trust transfers the shares to the eligible employees. The total number of outstanding options granted as on 30th September 2025 are 11,30,935. Currently the Trust holds 5,79,006equity shares in the Company . The trust shall first utilise its existing shareholding for transfer of shares to employees and hence the dilution will be only to the extent of 5,51,929 ( i.e. 11,30,935 less 5,79,006 = 5,51,929) equity shares. There are 11,30,935 outstanding stock options as on 30th September 2025 . From the outstanding options, 1,78,189 options are outstanding against director, 11,529 options are outstanding against KMP, and the 9,41,217 remaining options are outstanding against resident individuals and others category. Note No.3:Promoter Group list: - Sr.151 - On 30th September 2025, Mahindra & Mahindra Limited (promoter company) sold its entire stake in Sampo Rosenlew Oy (Sampo). As a result, Sampo Rosenlew ceased to be a wholly-owned subsidiary of the promoter company and, therefore, is no longer a promoter group company of Mahindra & Mahindra Financial Services Limited under Regulation 2(1)(pp)(iii) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. - Sr.152 - On 14th August 2025, Mahindra & Mahindra Limited (promoter company) had sold its entire stake in Mahindra Ideal Lanka (Private) Limited (MILPL). 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