Waaree Energies Limited Appoints Prabhu Narayan Singh as Chief Sustainability Officer to Drive Environmental, Social and Governance Practices

Mumbai, June 03, 2024 – Waaree Energies Limited proudly announces the appointment of Prabhu Narayan Singh as the Chief Sustainability Officer (CSO). Mr. Prabhu Narayan Singh has significant experience across, inter alia, environment, health and safety (“ESG”) best practices, positioning him as a key asset in advancing Waaree Energy Limited’s (the “Company”) sustainability initiatives.

With over three decades of industry experience, including managerial and senior managerial roles at various renewable energy companies in India, we believe Mr. Prabhu Narayan Singh brings a wealth of experience in aligning strategic objectives with sustainability goals while maintaining ethical practices. We believe that his leadership will shape Waaree Group’s ESG strategy, driving positive change for generations to come.

“I am honored to join Waaree Energies Limited during this pivotal moment in its sustainability journey. The Company’s dedication to sustainable practices resonates with my own values. I am eager to channel my experience towards leading transformative ESG initiatives that not only elevate the Company’s environmental and social impact but also reinforce its position in sustainability in the renewable energy sector,” expressed Mr. Prabhu Narayan Singh, Chief Sustainability Officer, Waaree Energies Limited

Waaree Group warmly welcomes Mr. Prabhu Narayan Singh as he endeavours to lead the Company towards a future defined by sustainable growth, innovation, and leadership.

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.