Date: June 15, 2026

Subject: Restructuring of Power Finance Corporation Limited ("PFC") and REC

This is in continuation to announcement dated February 6, 2026 regarding restructuring of Power Finance Corporation Limited ("PFC") and REC to achieve scale and improve efficiency in public sector NBFCs, wherein the Board of REC accorded its in-principle approval to proceed with restructuring in the form of a merger of REC and PFC and to formulate a detailed merger proposal in accordance with applicable laws and regulations, ensuring that the merged entity continues to remain as a "Government Company" under the Companies Act, 2013 and other applicable laws.

In this regard, the link to the outcome of the board meetings/ intimations/ disclosures disseminated on stock exchange are listed below:

Further, the future outcomes of the board meetings/ intimations/ disclosures in this regard would be available at the below link: