Scheme of Arrangement

Scheme of Merger by Absorption of Oilmax Energy Private Limited with Asian Energy Services Limited sanctioned by NCLT Mumbai Bench. - Transferor company Oilmax Energy Private Limited merged into listed Transferee company Asian Energy Services Limited. - Share exchange ratio: 117 shares of AESL for every 10 shares of Oilmax. - Transferor company dissolved without winding up. - All assets, liabilities, contracts, approvals, and employees transferred to AESL. - Scheme subject to regulatory approvals including Ministry of Petroleum. - Legal proceedings against Transferor continue against AESL post-merger. - Accounting treatment as pooling of interests under Ind AS 103. - Authorized share capital of AESL increased to accommodate new shares. - Scheme effective retrospectively from appointed date, final order received on 2026-10-15.