Mahindra & Mahindra Financial Services Limited informed that Mr. Amit Kumar Sinha, Non-Executive Non- Independent Director of the Company, is liable to retire by rotation at the ensuing Annual General Meeting ("AGM") and is eligible for re-appointment. However, he does not seek re-appointment as a Director due to due to his transition to a new role in Mahindra Group i.e. he has been appointed as the Managing Director and CEO of Mahindra Lifespace Developers Limited w.e.f. 23rd May 2023 and accordingly he would cease to hold office as a Director of the Company at the close of the ensuing AGM, which is scheduled to be held on 28th July 2023. The Board has taken note of the same.

Mr. Amit Kumar Sinha, Non- Executive Non- Independent Director is liable to retire by rotation at the ensuing Annual General Meeting ("AGM"). Although eligible for re- appointment as Director, he does not seek re-appointment as Director of the Company due to his transition to a new role in Mahindra Group i.e. he has been appointed as the Managing Director and CEO of Mahindra Lifespace Developers Limited, with effect from 23rd May 2023. Accordingly, Mr. Amit Kumar Sinha would cease to hold office as a Director of the Company at the close of the ensuing AGM which is scheduled to be held on 28th July 2023.