| THE COMPANY IS COMMITTED TO CREATE LONG TERM VALUE FOR ITS STAKEHOLDERS THROUGH ROBUST CORPORATE GOVERNANCE PRACTICES. PURSUANT TO THE PROVISIONS OF SECTION 134(3)(P) OF THE ACT READ WITH RULE 8(4) OF THE COMPANIES (ACCOUNTS) RULES, 2014, AND REGULATION 17(10) OF THE LISTING REGULATIONS, AN ANNUAL PERFORMANCE EVALUATION OF THE BOARD OF DIRECTORS, THAT OF ITS COMMITTEES AND THE INDIVIDUAL DIRECTORS INCLUDING THE CHAIRPERSON WAS UNDERTAKEN DURING THE YEAR UNDER REVIEW. THE PERFORMANCE EVALUATION OF INDEPENDENT DIRECTORS WAS CARRIED OUT BY THE BOARD, EXCLUDING THE PARTICIPATION OF THE DIRECTOR BEING EVALUATED. THE BOARD EVALUATION WAS CONDUCTED USING A STRUCTURED QUESTIONNAIRE DEVELOPED IN ACCORDANCE WITH THE EVALUATION CRITERIA PRESCRIBED BY THE NRC. TO ENSURE FAIRNESS, OBJECTIVITY, AND AN UNBIASED ASSESSMENT OF ALL DIRECTORS, THE COMPANY HAD ENGAGED AN INDEPENDENT EXTERNAL AGENCY TO FACILITATE THE EVALUATION PROCESS. THE PERFORMANCE EVALUATION OF THE BOARD WAS CONDUCTED ON A COMPREHENSIVE FRAMEWORK EMBRACING, INTER ALIA, ITS COMPOSITION AND DIVERSITY, FREQUENCY AND CONDUCT OF MEETINGS, QUALITY AND TIMELINESS OF INFORMATION, RELATIONAL DYNAMICS, AND EFFECTIVENESS IN OVERSEEING STRATEGIC, GOVERNANCE, AND OPERATIONAL MATTERS. THE COMMITTEES WERE EVALUATED WITH REFERENCE TO THEIR STRUCTURE AND DIVERSITY EFFECTIVENESS OF MEETINGS, INDEPENDENCE, CO-ORDINATION WITH THE BOARD, FULFILLMENT OF ASSIGNED RESPONSIBILITIES, AND ADEQUACY OF INFORMATION FLOW. INDIVIDUAL DIRECTORS WERE ASSESSED ON PARAMETERS INCLUDING QUALIFICATIONS, ATTENDANCE AND PREPAREDNESS, QUALITY OF PARTICIPATION, INDEPENDENCE OF JUDGMENT, DOMAIN EXPERTISE, INTEGRITY, TEAMWORK, STRATEGIC INPUT, COMMUNICATION, LEADERSHIP, AND ANALYTICAL ABILITIES. THE ACTION POINTS IDENTIFIED PURSUANT TO THE EVALUATION PROCESS ARE CURRENTLY BEING IMPLEMENTED. IN TERMS OF SCHEDULE IV OF THE ACT AND THE LISTING REGULATIONS, A SEPARATE MEETING OF THE INDEPENDENT DIRECTORS WAS CONVENED ON MARCH 19, 2026, CHAIRED BY MR. MARK D. MCDADE, LEAD INDEPENDENT DIRECTOR. THE MEETING, INTER-ALIA, REVIEWED AND EVALUATED THE PERFORMANCE OF THE CHAIRPERSON, THE NON- INDEPENDENT DIRECTORS AND THE BOARD AS A WHOLE. THE INDEPENDENT DIRECTORS ALSO DISCUSSED THE QUALITY, QUANTITY AND TIMELINESS OF FLOW OF INFORMATION BETWEEN THE COMPANY MANAGEMENT AND THE BOARD, SO AS TO ENABLE THE BOARD TO EFFECTIVELY AND REASONABLY PERFORM THEIR DUTIES. THE INDEPENDENT DIRECTORS ALSO INTERACTED WITH THE STATUTORY AUDITORS AT THE SAID MEETING. THE SUGGESTIONS AND FEEDBACK EMERGING FROM THE DISCUSSIONS OF THE SAID MEETING WERE PLACED BEFORE THE BOARD, AND THE RESULTANT ACTION POINTS HAVE BEEN REVIEWED AND ARE BEING IMPLEMENTED. |