Clean Max Enviro Energy Solutions Amends Investment Agreement with Apple India and Clean Max Taurus Private Limited

Clean Max Enviro Energy Solutions Limited disclosed on 7 May 2026 that it has executed an amended and restated investment agreement dated 6 May 2026 with Apple India Private Limited and Clean Max Taurus Private Limited (Taurus), modifying the original Investment Agreement dated 19 December 2025. The amendment revises the commercial understanding between the parties, particularly with respect to the sequencing of investments and share transfers, without impacting the management or control of the Company.

Amended Investment Agreement: Key Terms and Structure

The amended and restated investment agreement restructures the order of transactions originally envisaged. Under the revised arrangement, the Company will first invest in Taurus, following which Taurus will use the received funds to acquire equity shares of three identified subsidiary SPVs from the Company. Apple India will thereafter complete its investment into Taurus. The key terms of the investment arrangement are summarised below.

Parameter: Details Agreement Date (Original): 19 December 2025 Amendment Date: 6 May 2026 Parties: Clean Max Enviro Energy Solutions Limited, Apple India Private Limited, Clean Max Taurus Private Limited Post-Investment Shareholding in Taurus (Company): Approximately 51% Post-Investment Shareholding in Taurus (Apple India): Approximately 49% Shares Issued to Company (Taurus): 2,38,732 equity shares at INR 4,377 per share Shares Issued to Apple India (Taurus): 2,38,976 equity shares at INR 4,377 per share Consideration Type: Cash Acquisition Completion (Company's investment in Taurus): Proposed by 11 May 2026 Nature of Transaction: Related party transaction, at arm's length

Shareholders of Taurus will have proportionate board representation rights, customary reserved matter rights, and pre-emptive rights in case of share issuance by Taurus. Transfer restrictions, including a time-bound lock-in on shares, apply to both the Company and Apple India. After the lock-in period expires, the Company holds a right to purchase, and Apple India holds a right to require the Company to purchase, all securities and debt of Apple India in Taurus, per the terms of the Investment Agreement.

Three Amended Share Purchase Agreements for Identified SPVs

In addition to the amended investment agreement, the Company also entered into three separate amended and restated Share Purchase Agreements (SPAs) on 6 May 2026, amending the original SPAs dated 7 January 2026. These SPAs govern the sale by the Company of its entire shareholding in three subsidiary SPVs to Taurus. The details of the Company's current shareholding in each SPV and the consideration for the transfers are as follows.

SPV: Shares Held by Company Stake (%) Consideration (INR) Clean Max Ganga Private Limited: 1,15,911 shares 51% 19,32,64,205.85 Clean Max Kruger Private Limited: 91,307 shares 51% 7,15,60,035.11 Clean Max Sapphire Private Limited: 6,85,57,368 shares 74% 1,22,03,21,150.40

The sale transactions under each SPA are expected to be completed by 12 May 2026. Upon completion, each of the Identified SPVs will continue to be held by the Company, but indirectly through Taurus. The Company's indemnity obligation under the SPAs is capped at 100% of the total consideration received, and is also subject to customary time caps.

About Clean Max Taurus Private Limited

Clean Max Taurus Private Limited (CIN: U35105MH2024PTC434094) was incorporated by the Company on 24 October 2024 in India as a wholly owned subsidiary. It was established for the development, generation, and supply of renewable energy from solar, wind, hybrid, and other renewable sources, along with related activities such as power trading, EPC services, and environmental attribute trading including renewable energy certificates and carbon credits. Taurus operates in the renewable energy sector and had a capacity of 51 MWp solar. As per the latest available audited financials for FY 2024-25, Taurus reported a loss after tax of approximately INR 68,897, with nil turnover and a net worth of INR 0.003 crore.

Financial Contribution of Subsidiaries to the Company (FY 2024-25)

The financial contribution of Taurus and the Identified SPVs to the consolidated financials of the Company for FY 2024-25, based on audited financial statements as of 31 March 2025, is presented below.

Subsidiary: Turnover (INR Crore) Net Worth (INR Crore) Revenue (INR Crore) Clean Max Taurus Private Limited: 0.000 0.003 0.000 Clean Max Ganga Private Limited: 0.000 0.003 0.000 Clean Max Kruger Private Limited: Not applicable (incorporated in FY 2025-26) Not applicable Not applicable Clean Max Sapphire Private Limited: 0.01 175.29 0.000

Clean Max Sapphire Private Limited contributed 6.88% to the Company's consolidated net worth for FY 2024-25, while all other subsidiaries recorded negligible or nil contributions. The audited financial statements for FY 2025-26 are not yet available. The Company confirmed that the above transactions have no impact on its management or control, and the disclosures have been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Clean Max Enviro Energy Solutions Limited has announced that its earnings conference call for the quarter and financial year ended March 31, 2026, is scheduled to be held on Wednesday, May 13, 2026, at 02:00 PM IST. The intimation was issued pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This follows the company's earlier letter dated May 05, 2026, regarding the convening of a Board Meeting for approval of the audited standalone and consolidated financial results.

Conference Call Access Details

Investors and analysts can participate in the earnings call through dial-in numbers available across multiple geographies, as well as via a live webcast. The following table outlines the dial-in details for the call:

Country/Region: Dial-In Number Primary Number (India): +91 22 6280 1488; +91 22 7115 8869 Hong Kong: 800964448 Singapore: 8001012045 UK: 08081011573 USA: 18667462133

Participation and Webcast

Participants may pre-register to avoid wait times using the dedicated registration link provided by the company. A live webcast of the earnings call will also be accessible online. Additionally, the call details and related information will be made available on the company's official website under the shareholder information section.

Regulatory Compliance

The intimation was signed by Ullash Parida, Company Secretary and Compliance Officer (Membership No.: FCS 8689), on behalf of Clean Max Enviro Energy Solutions Limited, formerly known as Clean Max Enviro Energy Solutions Private Limited. The communication is dated May 06, 2026, from Mumbai, and has been submitted to both BSE Limited and the National Stock Exchange of India Ltd. for information, record, and appropriate dissemination.

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