SHILPA MEDICARE LTD.

Dr. Sridevi Khambhampaty has resigned as the Chief Executive Officer (CEO) of Shilpa Biologicals Private Limited, a material subsidiary of Shilpa Medicare Limited. Her resignation is effective from the closing hours of July 15, 2026, citing personal commitments. The company has provided the requisite disclosure as per SEBI regulations. Dr. Khambhampaty expressed gratitude for the opportunity and wished the company continued success.

Shilpa Biologicals Pvt Ltd, a wholly owned subsidiary of Shilpa Medicare Ltd, has entered into a co-development and supply agreement with Finland-based Orion Corporation for an intravenous Nivolumab biosimilar. Shilpa Biologicals will lead product development and serve as the exclusive commercial manufacturer and supplier for the European market from its Dharwad facility. Orion Corporation will have exclusive rights to register, market, distribute, and sell the product across Europe. This partnership aims to leverage the loss of exclusivity of the originator nivolumab to increase patient access to a high-quality biosimilar in Europe, combining Shilpa's manufacturing capabilities with Orion's commercial and regulatory expertise. Shilpa is entitled to receive development and regulatory milestone payments, in addition to supply revenue.

Shilpa Medicare Ltd has announced the closure of its trading window for designated persons and their immediate relatives, as well as connected persons, effective July 1, 2026. This closure will remain in effect until 48 hours after the declaration of the un-audited financial results for the quarter ended June 30, 2026. The company advises all designated persons to refrain from trading in its securities during this period. The specific date for the board meeting to consider these financial results will be communicated later.

Shilpa Biologicals Pvt Ltd, a subsidiary of Shilpa Medicare Ltd, has entered into a settlement agreement with M/s Sartorius Stedim India Pvt Ltd. The agreement resolves a dispute where Sartorius had claimed ₹20.13 crore plus interest. Shilpa Biologicals will pay ₹9 crore to settle the matter. This settlement impacts the financial activities of the subsidiary, limited to the settlement amount. The agreement was executed on June 23, 2026, before the Commercial Court in Bengaluru.

Shilpa Biologicals Private Limited, a material subsidiary of Shilpa Medicare Ltd, has commissioned a state-of-the-art Antibody-Drug Conjugate (ADC) GMP Manufacturing Facility. This facility is designed to meet global regulatory standards and is now operational, with GMP qualification protocols underway. It represents a significant expansion of Shilpa Medicare's expertise in highly potent compound manufacturing, offering integrated end-to-end ADC Drug Substance development and manufacturing services, including payload synthesis, linker development, monoclonal antibody production, ADC conjugation, and purification. This positions Shilpa as a cost-competitive CDMO partner for global pharmaceutical and biotech companies, particularly in the oncology segment.

Shilpa Medicare's wholly-owned subsidiary, Shilpa Biocare Private Limited, has entered into a strategic equity partnership with Gate2Brain, S.L., acquiring a 30.4% stake. Gate2Brain is a biotechnology company focused on developing peptide-based delivery systems for central nervous system diseases. This partnership involves an investment of €7 million, comprising a €0.5 million cash infusion, €5.5 million for services, and €1 million for project development. Shilpa Biocare will also serve as the CMC, manufacturing, and regulatory partner for Gate2Brain's lead candidate, G2B-002, an oncology asset targeting brain cancer with Orphan Drug Designation from the U.S. FDA and EMA. The collaboration aims to advance G2B-002 towards first-in-human studies, anticipated by FY28, and leverage Gate2Brain's proprietary MiniAp4 peptide shuttle platform for other CNS therapeutic categories. This marks Shilpa Medicare's fourth such strategic equity partnership, aligning with its strategy to invest in high-potential therapeutic assets.

Shilpa Medicare Ltd's Unit VI in Dabaspet, Bengaluru, underwent a USFDA Pre-Approval Inspection (PAI) from May 25-29, 2026. The inspection concluded with the issuance of a Form 483 containing 5 procedural observations, none of which are repeat observations or related to data integrity. The company will respond to the observations within the stipulated time and does not anticipate any material impact on current business operations or existing supplies. Unit VI holds accreditations from Europe- EMA, Saudi Arabia-SFDA, UK-MHRA, and Australia- TGA.

The Board of Shilpa Medicare Ltd, in its meeting held on May 22, 2026, recommended a final dividend of Re. 0.60 (60%) per equity share of face value of Re. 1/- each for FY 2025-26. The dividend is subject to the approval of the members at the upcoming Annual General Meeting and will be paid within the statutory timelines. The board also approved the audited financial statements for the year ended March 31, 2026, and appointed cost and internal auditors for FY 2026-27.

Shilpa Medicare Ltd's board meeting on May 22, 2026, approved audited financial statements (standalone & consolidated) for FY26 with an unmodified audit opinion. A final dividend of ₹0.60 (60%) per equity share was recommended, pending member approval. M/s. V.J.Talati & Co. and M/s ANEJA ASSOCIATES were appointed as Cost Auditors and Internal Auditors, respectively, for FY 2026-27. The registered office shifting from Karnataka to Maharashtra is subject to member approval via postal ballot. Subsidiaries will invest 28% in Neo Green Power Project Private Limited. The registered offices of multiple wholly-owned subsidiaries will also shift to Maharashtra.

Shilpa Medicare Ltd's board approved audited financial statements for FY26, recommended a final dividend of ₹0.60 per share, and appointed V.J.Talati & Co. as Cost Auditors and ANEJA ASSOCIATES as Internal Auditors for FY27. The board also approved shifting the registered office from Karnataka to Maharashtra, subject to member approval via postal ballot. Subsidiaries will invest 28% in Neo Green Power Project Private Limited and the registered offices of multiple wholly-owned subsidiaries will also be shifted to Maharashtra.