Akzo Nobel India Limited — Important, 23-03-2026: Disclosure of material issue

**Issue:** JSW Dulux is focused on enhancing its corporate governance and strengthening employee incentive programs for future growth.

**Company Response:** JSW Dulux's Board recently made pivotal strategic moves:

1. **New Directors:** Appointed Mr. Kaustubh Sudhakar Kulkarni as a Non-Executive Non-Independent Director. He brings 29 years of M&A and strategic finance expertise from JSW Steel. Additionally, Ms. Sutapa Banerjee, a veteran in financial services and wealth management currently serving on several major boards, was appointed as an Independent Director for 3 years.

2. **Employee Stock Option Scheme (ESOP 2026):** Approved a new ESOP covering 3.75 lakh shares. This scheme aims to motivate eligible employees across the company and its group entities by linking their performance to the company's long-term value creation. Shares will be granted at market price.

All these decisions require shareholder approval via postal ballot.

**Possible Impact:** These steps are expected to lead to a stronger board composition, improved strategic oversight, enhanced employee motivation, and better alignment of employee interests with shareholder value for sustained growth.