HO/49/14/14(6)2025-CFD-PoD1/I/2771/2026 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

MASTER CIRCULAR HO/49/14/14(6)2025-CFD-PoD1/I/2771/2026 To All Recognized Stock Exchanges All Recognized Depositories All Merchant Bankers and Brokers registered with SEBI All Social Enterprises All Social Impact Fund registered with SEBI All Social Impact Assessment Firms Institute of Chartered Accounts of India (ICAI) Institute of Company Secretaries of India (ICSI) Institute of Cost Accountants of India (ICMAI) Dear Sir / Madam, Subject: Master Circular for Framework on Social Stock Exchange (SSE) The Securities and Exchange Board of India ("SEBI" or "the Board") has been, from time to time, issuing various circulars/directions with respect to the framework for Social Stock Exchange under the relevant provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations") and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations"). In order to enable the stakeholders to have access to all applicable circulars in the subject matter at one place, this Master Circular is issued, which is a compilation of all the circulars issued with respect to Social Stock Exchange. With the issuance of this Master Circular, all directions/instructions contained in the circulars listed out in the Appendix to this Master Circular shall stand rescinded to the extent they relate to the framework for Social Stock Exchange . Notwithstanding such rescission, - January 19, 2026 (a) anything done or any action taken or purported to have been done or taken under the rescinded circulars, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular; (b) any application made to the Board under the rescinded circulars, prior to such rescission, and pending be