CleanMax & Apple Complete ~INR 100 Cr Renewable Energy Deal; All Three SPV Transfers Finalised

Clean Max Enviro Energy Solutions Limited , India's largest renewable energy solutions provider for the Commercial & Industrial (C&I) sector, has now completed all key milestones under its amended strategic co-investment agreement with Apple India Private Limited. Following earlier completions on 7 May 2026 — which included the acquisition of 2,38,732 equity shares of Clean Max Taurus Private Limited (Taurus) and the sale of equity shares of Clean Max Ganga Private Limited and Clean Max Kruger Private Limited to Taurus — the Company confirmed via a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 that the sale of equity shares of Clean Max Sapphire Private Limited to Taurus was completed on 11 May 2026. The partnership, valued at approximately INR 100 crore, reflects a shared long-term commitment to enabling corporate clean energy transition, advancing low-carbon infrastructure, and supporting Apple's broader carbon neutrality goals.

Amended Investment Agreement: Key Terms and Structure

The parties executed an amended and restated investment agreement dated 6 May 2026, modifying the original pact from 19 December 2025. The revision alters the sequencing of investments and share transfers — whereby Clean Max invests in Taurus first, which will then acquire equity shares of three identified subsidiary SPVs, before Apple India finalizes its investment into Taurus — without impacting the management or control of the Company. The key terms of the revised agreement are outlined 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): 7 May 2026

Three Amended Share Purchase Agreements for Identified SPVs

Concurrently with the amended investment agreement, the Company entered into three amended and restated Share Purchase Agreements (SPAs) on 6 May 2026, governing the sale of the Company's entire shareholding in three subsidiary SPVs to Taurus. All three SPV transfers have now been completed — the sale of equity shares of Clean Max Ganga Private Limited and Clean Max Kruger Private Limited to Taurus was completed on 7 May 2026, and the sale of equity shares of Clean Max Sapphire Private Limited to Taurus was completed on 11 May 2026. Upon completion of all transactions, the SPVs are held indirectly by the Company through Taurus, with the Company's indemnity obligation capped at 100% of the total consideration received. The shareholding and consideration details for each SPV are as follows.

SPV: Shares Held by Company Stake (%) Consideration (INR) Completion Date Clean Max Ganga Private Limited: 1,15,911 shares 51% 19,32,64,205.85 7 May 2026 Clean Max Kruger Private Limited: 91,307 shares 51% 7,15,60,035.11 7 May 2026 Clean Max Sapphire Private Limited: 6,85,57,368 shares 74% 1,22,03,21,150.40 11 May 2026

Strategic Partnership and Financial Context

The collaboration between CleanMax and Apple builds on an earlier co-investment partnership supporting Apple's India operations and is aimed at accelerating decarbonization within India's C&I sector through scaled renewable energy deployment. Kuldeep Jain, Managing Director and Founder of Clean Max, said, "We are thrilled to expand our partnership with Apple yet again. At CleanMax, we see ourselves as a long-term net-zero partner to corporates, and we are proud to continue working with a company like Apple that continues to push the ecosystem to think bigger, move faster, and build more responsibly."

Clean Max serves over 570 customers across India, the Middle East, and South-East Asia, with data centers and AI accounting for 42% of contracted volumes as of Q3 FY26. The audited financials for FY 2024-25 show that Clean Max Sapphire Private Limited contributed 6.88% to the Company's consolidated net worth. The partnership also reflects the growing role of strategic co-investment models in accelerating high-quality renewable infrastructure for commercial and industrial consumers, with India continuing to emerge as a critical market in this transition.

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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