HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

MASTER CIRCULAR HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 To All listed entities 1 All Recognized Stock Exchanges All the Depositories Other Stakeholders 2 Madam / Sir, Sub: Master Circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by listed entities For effective regulation of the listed entities and compliance with the requirements specified in the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as "LODR Regulations") (link) , Securities and Exchange Board of India, has been issuing circulars from time to time. In order to enable the users to have access to the provisions of the applicable circulars at one place, a Master Circular for compliance with the provisions of the LODR Regulations by listed entities dated July 11 , 2023 was issued by consolidating all relevant circulars issued till June 30, 2023 . Further, the Master Circular dated July 11 , 2023 was updated and issued on November 11, 2024 by consolidating all relevant circulars issued till September 30, 2024. The Master Circular dated November 11, 2024 is updated to include all relevant circulars that were issued till December 30, 2025 and changes, wherever considered relevant, are carried out in this circular to reflect the provisions which are currently in force . 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all directions/instructions contained in the Circulars listed out in the Appendix to this Master Circular shall stand rescinded to the extent they relate to compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. 1 Unless otherwise speci