Waaree Energies Limited appoints Mr. Aniruddha Khekale as Chief Human Resources Officer

Mumbai, 22^nd August 2024 – Waaree Energies Limited, India’s largest manufacturer of solar PV modules with an aggregate installed capacity of 12 GW as of June 30, 2023 (Source: CRISIL Report), announces the appointment of Mr. Aniruddha Khekale as its Chief Human Resources Officer (CHRO). Mr. Aniruddha Khekale’s appointment is expected to support the company’s growth trajectory and enhancing its people-centric ethos, fostering a culture of excellence throughout the organization.

Mr. Aniruddha Khekale brings decades of experience in human resource management, business transformation and talent and cultural excellence. His career is marked by his experience to lead HR functions across diverse sectors, driving organizational transformation, leadership development, and strategic HR initiatives. His experience expected to guide the Company as it continues to expand its footprint in the renewable energy industry.

Mr. Aniruddha Khekale, CHRO at Waaree Energies Limited said, “The opportunity to establish a strong foundation of people and culture for an organization is incredibly exciting and that is what attracted me to join Waaree Energies Limited. As CHRO, I am dedicated to leveraging my experience in human resources and leadership development to build a high performing, engaged workforce. My goal is to identify and nurture the critical capabilities our organization needs, and to implement approaches to attract and retain talent.”

In his new role, Mr. Aniruddha Khekale will lead company’s human resources strategies, digital transformation, talent management programs, and employee engagement initiatives. His appointment is expected to assist in aligning workforce capabilities with organizational goals, fostering a culture of innovation and excellence. The Company extends a warm welcome to Mr. Aniruddha Khekale as he embarks on this journey with us.

About Waaree Energies Limited

Waaree Energies Limited (“WEL”) was founded in 1990. It is India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report). WEL commenced operations in 2007 focusing on solar PV module manufacturing with an aim to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon foot-print paving the way for sustainable energy thereby improving quality of life. WEL has four solar module manufacturing facilities in India, with international presence.

For more information, please visit Waaree.com

Disclaimer:

Waaree Energies Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of the Company at www.waaree.com, SEBI at www.sebi.gov.in, the book running lead managers Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and ITI Capital Limited, at www.axiscapital.co.in, www.iiflcap.com, www.jefferies.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.sbicaps.com, www.intensivefiscal.com and www.iticapital.inrespectively, of the National Stock Exchange of India Limited at www.nseindia.com and of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Maharashtra at Mumbai, in future including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.

This press release does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a)(2) of the U.S. Securities Act. There will be no offering of securities in the United States.