Vardhman Special Steels Appoints Iwao Shimamoto as Director

Vardhman Special Steels Ltd announced the appointment of Mr. Iwao Shimamoto as a Non-Executive Non-Independent Director, effective October 27, 2026. This appointment is subject to shareholder approval and is in accordance with the Share Subscription and Investment Agreement with Aichi Steel Corporation (ASC). Mr. Shimamoto brings extensive experience from Toyota Motor Corporation and Aichi Steel Corporation, including roles in procurement, human resource development, corporate planning, and overseas management. He currently serves as Management Executive and President of the Forging Company at Aichi Steel Corporation. He has no pecuniary relationship or relation to other directors and is not debarred from holding a directorship.