REC: Board Meeting Outcome for Outcome Of Board Meeting

In compliance with the provisions of Regulation 30 read with Schedule III of SEBI (LODR) Regulations 2015 this is to inform that the Board of Directors of REC Limited in its Board Meeting held on May 17 2023 inter-alia considered and approved the followings:-1. Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Year ended March 31 2023.2. Incorporation of Project Specific (SPVs) as Wholly Owned Subsidiary Companies of REC Power Development and Consultancy Limited for 04 (Four) Inter-State Transmission Projects to be implemented through tariff based competitive bidding mode. The proposed SPVs will also be subsidiary companies of REC Limited in terms of the provisions of Section 2(87) of the Companies Act 2013.3. Appointment of Shri Hemant Kumar CGM (Finance) as Chief Compliance Officer of REC Limited for a period of three years with effect from May 6 2023 in terms of RBIs Guidelines/Circulars.