Dear Members,

Your Directors are pleased to present the 68^th Annual Report on the performance of your Company, together with the Audit Report and Financial Statements for the year ended 31.03.2026 and the Report thereon by the Comptroller and Auditor General of India.

During the year under review, NMDC made significant strides in its physical and financial performance. Most notably, the Company achieved its best-ever production during the financial year 2025-26, of 53.16 MT of iron ore as compared to 44.07 MT during the previous year 2024-25, thereby recording an increase of 20.62%. Further, the Company recorded an all-time high in sales of 50.24 MT as compared to 44.40 MT during the previous year.

Revenue from Operations during the financial year 2025-26 grew by about 33.31% to Rs.31,554 crore. Profit Before Tax (PBT) from continuing operations (before exceptional item) increased by 9.24% to Rs.10,156 crore. The Company clocked a Profit After Tax (PAT) of Rs.7,421 crore i.e., an increase of 10.88% over the previous year.

Net worth of the Company stood at Rs.33,836 crore as on 31.03.2026 i.e., an increase of 14.39% as compared to the previous financial year 2024-25.

During the financial year, the Company declared an interim dividend of Rs.2.50 per share in February 2026 and the same was paid to shareholders within the prescribed timelines. Further, the Company has also recommended a final dividend of Rs.1.00 per share for financial year 2025-26, subject to approval of the shareholders in the Annual General Meeting.

Capital expenditure of Rs.3,384 crore (including Rs.180 crore incurred towards doubling of KK Line from Kirandul to Jagdalpur) was incurred during the year under review.

The Company obtained the Mine opening permission and Seam opening permission for Tokisud North Coal mine (noncoking coal mine) and it commenced the mining operations on 23.01.2026.

The Company also received go-ahead from the Administrative Ministry i.e. Ministry of Steel conveying the concurrence of Department of Investment and Public Asset Management (DIPAM), Ministry of Finance for incorporation of a Wholly Owned Subsidiary (WOS) in GIFT City, Gandhinagar, Gujarat.

There has been no change in the nature of business for the year under review.

• During the year under review, your Company earned Profit before Tax of Rs.10,155 crore and Profit after Tax of Rs.7,421 crore vis-a-vis the previous year's figures of Rs.9,296 crore and Rs.6,693 crore respectively.

• The Company declared Interim Dividend for the financial year 2025-26 @ Rs.2.50 per share in the month of February, 2026 and the same was paid to the shareholders within the prescribed timelines.

• The total amount of payment towards Interim Dividend for FY 2025-26 was Rs.2,197.95 crore, out of which Rs.1,336.22 crore was paid to the Government of India in respect of its shareholding of 60.79% in the Company.

• Further, the Board of Directors recommended the payment of Final Dividend for the FY 2025-26 @ Rs.1.00 per share in the month of May 2026, subject to the approval of shareholders in the AGM.

As on 31.03.2026, the Authorized Share Capital of the Company was '1,000 crores divided into 1000,00,00,000 equity shares of '1.00 each. Further, the Paid-up capital was '879.18 crores divided into 879,18,17,550 equity shares of '1.00 each.

The Company transferred an amount of Rs.1,000 crore from Net profit to General Reserve for the financial year 2025-26.

4.5 Material changes and commitments, if any, affecting the financial position of the Company, which have occurred between the end of financial year of the Company to which the financial statements relate and the date of the report: nil

The Company has not accepted any deposits covered under Chapter-V of the Companies Act, 2013 during the year under review.

During the year under review, the Company has not issued any Non-Convertible Debentures (NCDs).

Necessary disclosures in respect of Internal Control Systems and their adequacy have been made in Annexure-C to the Independent Auditors' Report dated 29.05.2026 which forms part of the Annual Report.

Necessary details in this regard have been disclosed in the financial statements.

Disclosure of related party transactions forms part of the Notes to the Financial Statements (Standalone and Consolidated) of the Company for the financial year 2025-26. Further, the requisite disclosure in Form AOC-2 is also annexed herewith.

Section 148(1) of the Companies Act, 2013 specifies the provisions of maintenance of Cost Records of the Company. The Company is maintaining such records as per Rule 4(2) of the Companies (Cost Records and Audit) Rules, 2014 under both regulatory and non-regulatory services.

In line with the Vision Plan 2030, aimed at achieving a 100 MTPA production, NMDC has taken up several schemes for augmenting its production capacity and evacuation infrastructure. Additionally, new deposits and 'Ore Crushing, Screening and Loading' (OCSL) plant facilities are also envisaged to support this goal.

During the financial year 2025-26, the following Projects were undertaken by NMDC:

1. Screening Plant - III - Kirandul Complex;

2. Slurry Pipeline Project which includes facilities like 15 MTPA Slurry Pipeline from Bacheli to Nagarnar along with 2.0 MTPA Ore Processing Plant at Bacheli and 2.0 MTPA Pellet Plant at Nagarnar;

3. Doubling of KK line between Kirandul & Jagdalpur;

4. Screening Plant - II- Donimalai Complex;

5. New crushing Plant and Downhill Conveyor system at Deposit 14 &11C;

6. Township Project at Kirandul;

7. Township Project at Donimalai;

8. Automatic Sampling System; and

9. In-pit Crushing and Conveying system at Donimalai.

• With the objective of augmenting the production and improving evacuation facilities from Bailadila Sector, various schemes such as setting up of Screening Plant - III at Kirandul, New Crushing Plant of Deposit 14 & 11C and Downhill conveyor system at Kirandul, additional screening lines in Bacheli, Rapid Wagon Loading System (RWLS) at Kirandul etc. are envisaged. Increasing the evacuation capacity is also a major area of focus for enhancing the life of mines and accordingly, the schemes like Beneficiation plant at Bacheli & Kirandul and Slurry pipeline from Bacheli to Nagarnar and Pellet Plant at Nagarnar have been taken up.

• In Screening Plant - III project at Kirandul, the site work in packages like MRSS package, Dry Circuit (major technological package), Wet Circuit and Miscellaneous Building packages are in progress. The Rapid Wagon

Loading System (RWLS) package has been completed and is in operation. The overall progress of the project was 82% as on 31.03.2026.

• In Screening Plant - II project at Donimalai, the site work of main technological package is in progress. The overall progress of the package was 60% as on 31.03.2026. The balance packages in Screening Plant - II project, MRSS package and Tailing Dam Package have also been awarded and work is in progress.

• The work relating to construction of New Crushing Plant & Downhill Conveyor System for Deposit 14 & 11C, Kirandul was awarded on 21.03.2025. The overall progress of the package was 16% as on 31.03.2026.

• Expansion of Bacheli Complex is envisaged to enhance its mining capacity from present 18.8 MTPA to 35.0 MTPA by creating additional OCSL facilities for Deposit 5, Deposit 10 & 11A. As part of this expansion programme, dedicated and standalone OCSL facilities are being established separately for Deposit 5 and Deposit 10 & 11A, along with associated evacuation systems. An Engineering, Procurement and Construction Management (EPCM) consultant has been appointed for construction of the new OCSL facilities including preparation of the Detailed Project Report.

In order to augment the evacuation capacity from Bailadila sector, the following projects & schemes are being taken up by the Company:-

• Doubling of KK line between Kirandul & Jagdalpur (150.462 km) is being carried out by Railways as a Deposit work and overall progress for this work is 97%. The doubling of 128 km stretch of railway line has already been completed and is in operation. Further, work for doubling of 12.42 km & 9.5 km rail line is expected to be completed during the Financial Year 2026-27. The completion of this project will augment the evacuation capacity of Bailadila sector through railway line from 28 MTPA to 60 MTPA.

• NMDC has taken up an ambitious project of laying a Slurry Pipeline from Bailadila to Nagarnar. The capacity of the Pipeline is 15 MTPA and this will be associated with facilities like Beneficiation plant at Bacheli and Pellet plant at Nagarnar. Laying of slurry pipeline between Bacheli and Nagarnar, 2.0 MTPA Ore Processing plant at Bacheli and 2.0 MTPA Pellet Plant at Nagarnar are also being taken up in Phase-1 for implementation.

• Site development works of Ore Processing Plant (OPP) at Bacheli and Pellet Plant at Nagarnar and enabling works of Ore Processing Plant & Pellet Plant at Nagarnar are completed along with soil investigation studies. All the packages have been awarded and the work for the packages like Slurry Pipeline Laying, Slurry Pumping System, Technological Package of Pellet Plant at Nagarnar and for Ore Processing Plant at Bacheli, Main Receiving Substation and construction activities at site, are in progress. As on 31.03.2026, 134.28 km of Pipeline laying, out of 135.3 km, was completed. The overall progress of the project was 94% as on 31.03.2026.

• To improve evacuation capacity from the Kirandul Complex, construction of Rapid Wagon Loading System - II (RWLS - II) has been undertaken along with the laying of a third railway line in the MV siding area. A scheme for installation of RWLS-III has also been developed to replace the existing bunker-based loading system.

• To ensure reliable transportation of fines to stockpiles, installation of a parallel conveyor (315N-3) and revamping of the existing conveyor (315N) has been taken up.

• To improve evacuation capacity from the Bacheli Complex, Rail No. 5 at the Bacheli yard has been developed to enable evacuation at the rate of one rake per day through semi-mechanized means. In addition, a conveyor system is planned to transport fines from the dump area to Rail No. 5; thereby, eliminating the need for truck transportation.

• As part of its commitment to enhancing employee welfare and supporting future expansion, NMDC has undertaken the development of modern high-rise residential quarters across its Kirandul, Bacheli and Donimalai projects. These developments are being executed to replace existing housing infrastructure with improved and sustainable living facilities.

• At Kirandul, construction of 365 residential quarters has been completed. Further, work has been awarded for development of additional 430 quarters, along with four hostel towers, to augment the existing capacity.

• At Donimalai, the construction of 360 residential quarters is currently under progress.

• At Bacheli, NMDC has awarded the consultancy work for construction of approximately 2,400 residential quarters, with an envisaged completion timeline of 36 months.

During the year, NMDC commenced its mining operations in:-

• Tokisud North Coal Block in Jharkhand for coal and

• Ground Breaking for Deposit-4, NCL near Bhansi, Chhattisgarh for iron-ore.

NMDC also awarded the work of 'Operation, Maintenance and Development of Assets' (OMDA) for 1.2 MTPA Pellet Plant at

Donimalai for 15 years in NPP model on revenue sharing basis.

NMDC is also working on additional initiatives such as automatic sampling systems and digital project management unit to streamline operations and improve efficiency. A brief on the digital intervention measures taken up by the Company are as follows:

• Digital Project Management Unit (DPMU): To monitor the progress of projects/ schemes, a digital monitoring tool has been implemented. All projects/ packages costing above Rs.30 crore are being monitored through this platform, which enables NMDC to ensure timely completion of projects/packages.

• In-Pit Crushing and Conveying System at Donimalai: The

new technology towards crushing & conveying of iron ore in the mine pit to reduce the haulage through dumpers, is under implementation at Donimalai Complex.

• Automatic Sampling System: The project is being implemented at Kirandul, Bacheli and Donimalai complexes. The initiative will facilitate automated sample collection for iron ore, thereby replacing the earlier manual sampling process. The collected sample will be subjected to elemental analysis in XRF-based robot operated lab.

Legacy Iron Ore Limited ('Legacy') is an ASX-listed mineral resources Company based in Perth, Western Australia, focusing on gold, iron ore and base metals. As on 31.03.2026, NMDC held 92.84% equity share in the Company. Legacy holds 25 prospective tenements across its Mount Bevan, South Laverton and East Kimberley project areas in Western Australia. The tenements are in various stages of exploration for a host of commodities including iron (1), gold (20), base metals and tungsten (4).

The Mount Bevan Project in Western Australia is of strategic importance to Legacy. It endows a significant magnetite Mineral Resource of 1.29 billion tonnes at 33.50% Fe (JORC Inferred & Indicated). Legacy signed a Joint Venture (JV) Magnetite Agreement with Hancock Prospecting Ltd (Hancock) to complete a Pre-Feasibility Study (PFS). Under this arrangement, Hancock has completed the PFS studies. After completing of the PFS, the shareholding in JV changed with Legacy holding 29.40%, Hancock holding 51% and Hawthorn Resources holding 19.60% interest in Mount Bevan JV. After completion of PFS, Hawthorn Resources opted to exit with royalty option and accordingly, the shareholding in JV changed with Legacy holding 36.57% & Hancock holding 63.43%.

Mount Bevan is progressing in DFS study through activities aimed at further defining, optimising and de-risking the project. With successful completion, it is expected to support advancement towards a Financial Investment Decision.

Under Mt. Bevan Lithium & Other Minerals Joint Venture of Hancock & Legacy signed in June 2023, Hancock earned an initial 7.5% interest through an upfront payment of AUD 4 million to Legacy (60%) and Hawthorn (40%). During Stage I exploration, 7,731 metres of RC drilling were completed, with the results indicating that several pegmatites were intersected, although they exhibited only weak lithium enrichment. Following the completion of Stage I expenditure commitments, the current shareholding stands at Hancock 15%, Legacy 51% and Hawthorn 34%. As per agreement, Hancock Prospecting has submitted a notice and royalty deed for their election to convert their 15% participating interest in the Mt. Bevan Lithium & Other Minerals JV into royalty.

The South Laverton Project of Legacy includes Mount Celia, Yilgangi, Yerilla and Patricia North gold assets. Mining Lease for Mount Celia Gold Project has been granted by the Western Australian Department of Mining Industry Regulation and Safety (DMIRS) in the first half of 2023.

Legacy commenced Gold mining operations in Mt. Celia Gold Project on 05.11.2023 and first sale of ore took place in March 2024. Legacy has entered into an Ore Purchase Agreement (OPA) with Paddington Gold Pty. Ltd. for sale of ore. Subsequently, Legacy has entered into a right to mine agreement with BGR mining, wherein BGR is funding the operational expenses and the profits will be shared as per the agreed terms. The mining and development activities under Right to Mine Agreement ceased from December, 2025 and ancillary activities such as ore haulage to mill and road maintenance were completed on 22.02.2026.

Further, Mount Celia has declared updated JORC resource of 8.8 million tonnes @ 1.38 g/t with 390K ounces of contained gold, in April 2026.

The Patricia North, Yilgangi, Sunrise Bore and Yerilla tenements remain at various stages of exploration maturity across Western Australia. Patricia North was granted a two- year extension in December, 2025.

At Yilgangi, geophysical desktop studies, UAV drone magnetic surveys, data acquisition and geophysical interpretation were completed, with the survey results announced to the ASX in April 2026.

At Sunrise Bore, field investigations and sample collection were completed to support the tenement extension process, with the extension application scheduled for submission in June 2026. Future exploration activities at the project will be guided by the outcomes of heritage surveys and sampling results.

At Yerilla, heritage-related consultations with relevant stakeholders are in progress. Minimum commitment exploration works, including geological mapping and sampling, have been completed for the Kimberley tenements (Koongie Park, Sophie Downs, Taylor Lookout and Ruby Plains).

International Coal Ventures Private Limited, a joint venture Company of SAIL, RINL, NMDC, CIL & NTPC, acquired a coking coal asset in Mozambique in 2014 and its operations were taken over by ICVL. NMDC holds 25.94% stake in ICVL. Benga mine, the operational asset of ICVL, could not produce coal in FY 2025-26 due to termination of coal mining operation services contract and delay in mobilisation & ramp up by the new mining contractor. However, it managed to export 0.49 million tonnes of Coal (0.02 million tonnes of Coking Coal +

0.47 million tonnes of Thermal Coal) during the FY 2025-26.

As part of NMDC's strategic global outreach and business development initiatives, NMDC has established international offices in Dubai and Sydney. These offices serve as key hubs for strengthening engagement with global stakeholders, monitoring international market developments, identifying new business opportunities and enhancing access to critical mineral resources.

Your Company has five iron ore leases in Chhattisgarh and two Iron Ore Leases in Karnataka. The present status is as under: -

Your Company has two leases at Panna Diamond Mining Project, Madhya Pradesh. The details of leases are given below:

The coal mine was allotted on 17.08.2020, with project area of 585 Ha. NMDC has obtained transfer of Environment Clearance (EC), Stage II Forest Clearance (FC), permission for Railway siding & obtained NoC for ground water abstraction and appointed Mine Developer and Operator (MDO) to undertake mining operations. Government of Jharkhand transferred Govt. land (GM, JJ & AAM Khas) from previous allottee to NMDC and lease transfer deed was executed on 16.10.2025 for 121.02 acres at Mine site. The forest land vested

to NMDC has been released on 06.04.2025 and tree cutting permission was received on 09.10.2025. On cancellation of 95 deeds due to irregularities in purchase by previous allottee, NMDC initiated land acquisition under Coal Bearing Area (Acquisiton & Development) Act, 1957, notification under Section 9 has been issued on 22.07.2025 and notification under Section 11 has issued on 03.11.2025, which is equivalent to grant of Mining Lease. Consent to Establish (CTE) and Consent to Operate (CTO) has been obtained from JSPCB on 21.11.2025 and 27.12.2025 respectively.

On obtaining the Mine opening permission and seam opening permission, the mining operations have commenced on 23.01.2026.

The coal mine was allotted on 18.06.2021. The mine comprises an area of 1,245 Ha, out of which 825 Ha has been explored & 420 Ha is yet to be explored.

In the area to be explored (420 Ha), obtained transfer of Stage I Forest Clearance (FC). Compliance to Stage I FC submitted & paid NPV charges. MOEF&CC has delinked Stage I FC conditions applicable to mining area & NMDC has submitted compliance of Stage I FC. MoEF&CC has asked NMDC to submit the Wildlife Management Plan of the exploration area. The exploration activity will be taken up after de-lineation of wildlife corridor by the State Forest Department/ MoEF&CC and issuance of Stage II FC for exploration.

In explored area (825Ha), NMDC has obtained transfer of EC, Stage I FC. For acquisition of entire land (including restored land), NMDC has initiated land acquisition under Coal Bearing Area (Acqusition & Development) Act, 1957. The Ministry of Coal issued the Section 9 notification on 05.06.2025 and subsequently issued the Section 11(1) notification on 03.11.2025, which is equivalent to the grant of a Mining Lease (Surface and Mining Rights for 825 Ha of mining area).

The grant of stage II FC is presently under consideration by MoEF&CC. On receipt of all the clearances, NMDC expects to operationalise Rohne by end of this FY 26-27.

Your Company has carried out detailed exploration of Malangtoli Iron ore deposit, Odisha during 1972-77 and established mineable reserve of 340 Million tonnes.

Your Company is putting efforts and pursuing the matter with Ministry of Mines, Govt. of India through MoS, GoI for reservation of Malangtoli Iron Ore Block in favour of NMDC where detailed exploration was carried out by NMDC. Due to continuous persuasion by your Company, Ministry of Mines, Govt. of India sent a letter to Govt. of Odisha on 04.01.2022 regarding their comments on the instant proposal and observation made by IBM, Nagpur.

Director (Mines), Govt. of Odisha vide letter dated

06.10.2022 requested NMDC to provide the information for reservation of Malangtoli Iron Ore block (B, F & G Blocks) over an area of 39.03 sq. kms under section 17A for grant of Mining Lease. Against the above communication of DMG, Odisha, NMDC vide letter dated

25.10.2022 has submitted the information as sought and requested DMG, Odisha and Ministry of Mines to reserve the said Malangtoli Iron Ore block under Section 17A of MMDR Act, 1957 for grant of mining lease as the applied area was already explored by NMDC.

NMDC vide letter dated 12.12.2023, requested Chief Secretary Govt. of Odisha (with a copy to MoM & MoS, GoI) to send a positive response to Ministry of Mines, GoI letter dated 04.01.2022, so that prior approval to Malangtoli Iron Ore Block can be provided by MoM, GoI.

A meeting was held on 02.02.2024 at MoM, GoI, under the Chairmanship of Hon'ble Secretary, MoM, GoI related to the reservation blocks under Section 17A of MMDR Act, 1957. Hon'ble Secretary, MoM, GoI gave his consent to discuss the matter with GoO regarding reservation of Malangtoli Iron Ore Block in favour of NMDC Limited.

CMD, NMDC vide letter dated 27.02.2024 had requested MoM, GoI (with a copy to Mos, GoI) to take up the matter with GoO for reservation of Malangtoli Block.

As discussed in the meeting held on 02.02.2024 regarding Section 17A, MoM, GoI sent 4^th reminder letter to GoO on 27.02.2024 for requisite information/ comments from GoO. On 08.04.2025 MoM, GoI sent again 5^th reminder letter to GoO for their comments related to reservation of Malangtoli Iron Ore Block.

On 08.07.2024, CMD, NMDC requested Chief Secretary, Govt. of Odisha to take up the matter with Additional Chief Secretary (Steel & Mines), Govt. of Odisha to take action upon the MoM, letter regarding reservation of Malangtoli Block.

GoO officials informed that Govt. of Odisha, Dept. of Steel & Mines vide Notification dated 21.05.2024 has asked

Odisha Mining Corporation (OMC) to carry out Geological exploration in the 12 Mineral Blocks of Sundergarh and Keonjhar District, under Rule 67 of MCR, 2016. Out of 12 allotted Blocks to OMC, Block No. 4 Samarchuan Blocks is overlapping with the NMDC applied Malangtoli Iron Ore Block.

On 24.03.2025, NMDC has sent a letter to the Secretary, MoS to take up the matter with MoM, GoI regarding Malangtoli area overlapping with 12 Mineral Blocks allocated to OMC for G-2 level Exploration.

On 10.02.2026, NMDC has submitted a formal request to the Additional Chief Secretary, Steel & Mines, Government of Odisha, seeking the consideration for the exclusion or denotification of the area allocated to M/s Odisha Mining Corporation Limited. NMDC has already conducted G-1 level exploration for the Malangtoli block and has applied for its reservation under Section 17A of the Mines and Minerals (Development and Regulation) Act, 1957.

On 23.03.2026, MoS, GoI requested the Additional Chief Secretary (Steel & Mines), GoO, for the reservation of the Malangtoli block.

Your Company is putting efforts and pursuing the matter with MoM, GoI for reservation of Malangtoli Iron Ore Block in favour of NMDC. Matter is under consideration with Govt of Odisha.

Your Company has applied for Rakma Iron Ore deposit vide letter dated 14.11.2023 to Ministry of Steel (MoS), Government of India (GoI) has submitted the Rakma Iron Ore Composite Licence Blocks Reservation Proposal located in Keonjhar and Sundergarh District, Odisha applied under Section 17A of MM(D&R) Act, 1957.

On 14.03.2024, MoS, GoI asked NMDC to submit reply on various queries related to the NMDC applied Rakma Iron Ore Block. NMDC submitted the reply to MoS, GoI on

16.03.2024.

On 16.04.2024, MoS, GoI forwarded NMDC application to MoM, GoI for reservation of Rakma Iron Ore Block and on

23.04.2024, MOM, GoI asked IBM to send its comments related to NMDC applied Rakma Iron Ore Block.

Dept of Steel & Mines, Govt. of Odisha vide Notification dated 21.05.2024 has requested Odisha Mining Corporation (OMC) to carry out Geological exploration in the 12 Mineral Blocks of Sundergarh and Keonjhar District, under Rule 67 of MCR, 2016.

On 01.07.2024, MoM, GoI has sent 1^st Reminder to Government of Odisha (GoO) to furnish comments/ views on the aforesaid proposal.

Out of 12 allotted Blocks to OMC, Block No.1 (Badamgarh- Khajuridihi) is overlapping with NMDC applied Rakma Block.

NMDC has requested for the exclusion or de-notification of the area for which it has sought reservation of the Rakma Iron Ore Block on 10.02.2026. In the correspondence, NMDC addressed the issues of overlapping claims and urged the Additional Chief Secretary, Steel & Mines, to recommend the reservation of this block under Section 17A of the MMDR Act, 1957.

On 23.03.2026, MoS, GoI requested Additional Chief Secretary (Steel & Mines), GoO for the reservation of Rakma Block.

Your Company is putting efforts and pursuing the matter with MoM, GoI for reservation of Rakma Iron Ore Block in favour of NMDC. Matter is under consideration with Govt. of Odisha.

As discussed during the meeting of Niti Ayog by Addl. Secretary, Ministry of Mines dated 20.05.2024, NMDC had submitted the proposal for reservation of Kansa Nickel Block (Area: 8.0 Sq. Km.) located in Jajpur District, Odisha in favour of NMDC under Section 17A of MMDR Act, 1957 to MoS, GoI on 04.10.2024.

MoM, GoI on 11.11.2024 requested IBM and GoO to furnish its comments related to NMDC's applied Kansa Nickel Block.

Dept. of Steel & Mines GoO, on 21.11.2024 forwarded the proposal to DMG, Odisha for its comments on NMDC proposal. During the visit to DMG, Odisha on 20.01.2025, it was informed by DMG Officials that GSI has been asked to offer its views on the NMDC applied Kansa Nickel Block proposal. GSI is conducting exploration activities on the NMDC applied Kansa Nickel Block. Depending on the results obtained after exploration an appropriate decision will be taken.

GSI, Bhubaneswar on 20.01.2025 was also visited to discuss the exploration status of Kansa Nickel Block. GSI Directors informed that earlier based upon 180 Bore holes, GSI estimated Geological reserve (G-2 Level) of 40 MT with more than 1% Ni Content and average occurrence of Nickel ore upto 100m depth. GSI also stated that the

Block is highly prospective for Cobalt also. GSI officials said that the exploration work may be completed by 3^rd quarter of FY 2025-26. Further, they suggested based on G-2 level exploration report NMDC may apply for Mining Lease.

NMDC officials visited GSI, Bhubaneswar on 30.01.2026 to find out exploration status of Kansa block. DDG and Director, GSI, Bhubaneswar informed that they expect to complete exploration work by February, 2026.

On 07.02.2026, NMDC submitted a formal request to the Geological Survey of India (GSI) seeking permission for NMDC officials to conduct a site visit to the Kansa Nickel Block. Subsequently, on February 10, 2026, NMDC officials, accompanied by representatives from GSI, visited the Kansa Nickel Block to assess the site.

Your Company vide letter dated 30.09.2023 has applied two Iron Ore Blocks Karampalli (21.81) Sq. Km and Damkodi-Metta (24.68) Sq. Km. in Gadchiroli District, Maharashtra to MoS, GoI for reservation under Section 17A of MMDR Act, 1957.

MoS, GoI vide Office Memorandum dated 20.11.2023 sent the NMDC reservation proposal to Ministry of Mines, Govt of India.

Your Company is putting efforts and pursuing the matter with Ministry of Mines, Govt of India through MoS, GoI for reservation of above two Iron Ore Blocks. A meeting was held on 02.02.2024 at MoM, GoI, under the Chairmanship of Hon'ble Secretary, MoM, GoI related to the reservation blocks under Section 17A of MMDR Act, 1957. Secretary, MoM, GoI remarked in the meeting to examine the proposals of Damkodi - Metta Iron Ore Block & Karampalli Iron Ore Block in light of the legal provisions.

Based upon the queries raised by MoM, GoI, NMDC has submitted the reply to MoS, GoI on 28.02.2024 for onward submission to MoM, GoI.

MoS, GoI forwarded the reply of NMDC to MoM, GoI on dated 18.03.2024. Matter is under consideration with MoM, GoI.

On 08.04.2024 MoM, GoI requested Govt. of Maharashtra and IBM, GoI in their separate letters to send comments on reservation of two applied Iron Ore Blocks in Maharashtra.

On 02.06.2024 MoM, GoI in its reminder letter No. M.VI- 16.03.2024-Mines VI asked IBM to furnish its comments/ views with a report on the aforesaid proposal at the earliest so that further necessary action may be taken by MoM, GoI in the matter.

A meeting was held on 06.12.2024 under the Chairmanship of Hon'ble Minister of Steel. The meeting was related to the proposal of reservation blocks pending with MoM, GoI, where State Govt. already had offered its comments. Both the NMDC applied Iron ore proposals of Maharashtra were also discussed. Secretary (Steel) emphasized for the reservation of these mineral blocks in favour of PSUs. Secretary (Mines) assured to look after the matter in positive manner.

CMD, NMDC Ltd. vide letter dated 30.07.2025 requested the Chief Secretary, Govt. of Maharashtra, to facilitate the reservation of the two Iron ore blocks (Karampalli and Damkodi-Metta) applied by NMDC Limited in Gadchiroli District, Maharashtra.

On 04.04.2026, NMDC submitted a formal request letter and annexures pertaining to reservation proposals of Karampalli Iron Ore Block and Damkodi-Metta Iron Ore Block.

Your Company vide letter dated 13.12.2023 requested the Secretary, MRD, Govt. of Chhattisgarh to take up the matter with Ministry of Mines, Govt. of India regarding enhancement of the maximum area limit for Iron Ore Mining Lease from 50 Km² to 100 Km² in the state of Chhattisgarh under first proviso of section 6(1) (b) of MMDR Act, 1957.

On 18.01.2024, MRD, Govt. of Chhattisgarh forwarded the proposal to DMG, GoCG. On 20.03.2025 CMD, NMDC discussed the matter with Chief Secretary and Secretary, MRD, GoCG. GoCG has assured to take-up the matter with MoM, GoI.

Your Company has submitted a proposal on 28.05.2024 to MoS, GoI, for reservation of Ramandurg Iron Ore Block under section 17A of MMDR Act, 1957 for an area of 4.79 Sq.Km. for grant of mining lease in favour of NMDC Ltd for non-captive purpose. MoS, GoI sent queries on

29.05.2024 to NMDC for clarification and the same

were replied by NMDC to MoS on 03.06.2024. MoS, GOI forwarded the proposal to MoM, GOI on 18.06.2024.

On 08.11.2024 MoM, GoI asked GoK to furnish comments on NMDC reservation proposal. The matter is under consideration with State Govt.

NMDC submitted an application on 25.03.2025 to the Secretary, Ministry of Steel, Govt. of India to reserve 19.02 Ha. area of M/s Deccan Mining Syndicate's cancelled ML of Iron ore (ML No. 2525) in Sandur Taluk, Bellary District, Karnataka as it falls within Kumaraswamy ML of NMDC, under Section 17A of MM (D&R) Act, 1957 for grant of mining operation.

Your Company has applied for Korukonda (Jerella) Bauxite block over an area of 9.90 Sq.km in Alluri Sitharama Raju district (Earstwhile Vishakhapatnam District) to Ministry of Steel, Govt. of India for reservation under Section 17 (A) of MM (D&R) Act, 1957 vide letter dated 27.10.2023. Vide letter dated 04.01.2024, MOM, GoI has enquired some information from MoS related to reservation of the applied block. On 12.01.2024, NMDC Ltd. has submitted the information/relevant documents to MoS, GoI. On 16.01.2024, the same was forwarded by MoS, GoI to MoM, GoI for further course of action.

On 03.07.2024 MoM, GoI has asked IBM, Hyderabad and GoAP to comment on the proposed block. On

11.08.2024, DMG, Ibrahimpatnam asked DMG, Paderu Alluri Sitharamaraju District, A.P. to offer its comments on NMDC proposal.

DMG, Paderu, Alluri Sitharamaraju District, A.P. on

21.11.2024 has sent its reply to DMG, Ibrahimpatnam. The matter is under consideration with GoAP.

NMDC is pursuing the matter with GoAP.

An application has been submitted over an area of 312.43 Ha by clustering Mining Leases of M/s M L Jain & Sons and M/s R Mc Dill Co Pvt. Ltd, West Singhbhum District, Jharkhand for reservation of Composite Licence in favour of JNMDC on 20.09.2019 under Section 17A of MM(D&R) Act, 1957.

As per the media news dated 02.02.2021, Ministry of Mines, Govt. of India has informed to the Secretary, Mines, Govt. of Jharkhand that the 7 Iron ore Leases of Jharkhand which were lapsed on 31.03.2020, have to be put for auction and if the successful bidder fails to operate the mines, then it can be reserved for State PSU.

DMG, Govt. of Jharkhand has completed G3 Level of Exploration through GSI in 2021. NMDC is going to write a letter to MoS, GoI to take up the matter with MoM, GoI and Government of Jharkhand to reserve the area covering 312.43 Ha by clustering of expired leases of M/s M.L. Jain and Sons and R. Mcdill Co. Pvt. Ltd in West Singhbhum District, Jharkhand for Composite License under Section 17A of MMDR Act, 1957.

NMDC vide letter dated 20.01.2025 submitted an application to MoS, GoI for reservation of Karampada West Iron Ore Block, located in West Singhbhum District, Jharkhand under Section 17A of MMDR Act, 1957 for grant of Mining Lease in favour of Jharkhand Mineral Development Corporation Limited (JNMDC).

MoS, GoI vide a letter dated on 22.01.2025 asked queries to NMDC related to the applied Karampada West Iron Ore Block.

A detailed reply addressing the queries from the MoS, GoI was sent to MoS on 18.02.2025.

NMDC vide letter dated 23.03.2026 submitted an application to the Director, DMG, GoJH for reservation of Karampada West Iron Ore Block under Section 17A of MMDR Act, 1957 for grant of Mining Lease in favour of JNMDC.

JNMDC submitted a proposal on 17.10.2017 to the Secretary, Department of Industries Mines & Geology, GoJ, for reservation of Ghatkuri Iron ore deposit, West Singhbhum District, Jharkhand, under Section 17A of MM(D&R) Act, 1957 for grant of Prospecting and Mining operation.

NMDC vide letter dated 01.02.2021 requested Addl. Sec. MoS, GoI to take up the matter with MOEF &CC for exempting the Ghatkuri Iron Ore area from conservation zone and keep it under Mining Zone so that this block can be reserved for JNMDC.

NMDC vide letter dated 23.03.2026 submitted an application to the Director, DMG, GoJH for reservation of Ghatkuri Iron ore Block (area: 12.30 Sq. Km.) located

in West Singhbhum District, under Section 17A of MMDR Act, 1957 for grant of Composite License in favour of Jharkhand National Mineral Developent Corporation Limited (a Joint venture company) with NMDC holding 60% stake.

NMDC-CMDC Limited (NCL) is a Joint venture Company of NMDC Limited and CMDC Limited with a share capital ratio of 51% and 49%, respectively. The present status of all the projects of the Company is as follows :

Ministry of Mines, GoI has reserved Bailadila Iron Ore Deposit-4, over an area of 646.596 Ha in favour of NMDC- CMDC Limited (NCL) under Section 17A (1A) of the MMDR Act, 1957 vide their Gazette notification no. 697(E) dated 30.09.2019 for prospecting and mining operations. MRD, GoCG issued an LOI for grant of Mining lease vide letter dated 26.06.2021 in favour of NCL. The mining plan of Deposit-4 was approved by IBM, Raipur on 24.09.2021 upto 20.01.2031.

Ministry of Environment, Forests and Climate Change (MoEF&CC), New Delhi granted Environmental Clearance (EC) to Bailadila Iron Ore Deposit-4 Mine with a production capacity of 7.00 MTPA ROM Iron Ore and 6.41 MTPA Waste Excavation (i.e. total excavation capacity of 13.41 MTPA) along with 2000 TPH Crushing plant inside Mine Lease area on

09.08.2025.

SEIAA, Chhattisgarh, on 22.09.2025, granted Environmental Clearance for Screening-Cum-Beneficiation Plant (750 TPH of 4 lines each) along with 2,200 TPH Downhill Conveyor and Loading Facilities in Forest area - 100.077 Ha and Revenue land (Government, Private and Bade Jhad ke Jungle) of 22.4658 Ha located outside the Mining Lease area of Bailadila Iron Ore Deposit-4.

Thereafter, MoEF&CC, New Delhi on 20.11.2025 granted the 'final' approval for FC Stage-II under Section 2 of the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980 for nonforestry use of 682.2722 Ha (570.100 Ha inside lease and 112.1722 Ha outside lease) forest land for Bailadila Iron Ore Deposit-4 Mine in favour of M/s NMDC-CMDC Limited.

The 'Consent to Establish' (CTE)/Environment safeguard was issued for 2 MTPA capacity on 02.02.2026 and 'Consent to Operate' (CTO) for 2 MTPA capacity was issued by CECB on

20.02.2026.

The Mining Lease has been executed and registered in the name of NCL on 21.01.2026 for a period of 50 years. The ground breaking at Bailadila Iron Ore Deposit-4 has been

done on 27.02.2026. Further, efforts are underway for the start of commercial mining operations from Deposit-4.

Mining lease was granted for Bailadila Iron Ore Deposit-13 over an area of 413.745 Ha in favour of NMDC Limited for 50 years by State Government of Chhattisgarh vide order no. F3- 84/95/12 dated 07.01.2017 and lease deed for the same was executed on 10.01.2017 over an area of 315.813 Ha.

As per JV agreement dated 27.03.2007 by and between CMDC Ltd. and NMDC Ltd., mining lease of Bailadila Iron Ore Deposit-13 has to be transferred in the name of NMDC-CMDC Limited (NCL) and then, NCL will undertake all the required steps for development and operation of the mine. Further, mining lease grant order no. F3-84/95/12 dated 07.01.2017 in respect of Deposit-13 issued by State Govt. of Chhattisgarh, stipulated that 'after the execution of lease deed, NMDC will transfer the mining lease to the JV Company viz. NMDC- CMDC Limited'.

Mineral Resources Department, Govt. of Chhattisgarh, issued an order no. F3-84/95/12 dated 06.11.2017 for transferring the mining lease of Bailadila Iron Ore Deposit-13 in favour of NMDC-CMDC Limited (NCL). Further, Mining Lease of Deposit-13 was transferred and executed in favour of NMDC- CMDC Limited (NCL) on 04.12.2017.

MoEF&CC, GOI, accorded transfer of Environmental Clearance in name of NMDC-CMDC Limited from NMDC on 12.12.2019. The final Forest clearance under Section 2(ii) of Forest Conservation Act 1980, was granted over an area of 315.813 Ha. in favour of NMDC Limited by MoEF&CC on 09.01.2017 and CECB granted approval for Consent to Establish (CTE) in favour of NMDC Ltd. for 2 MTPA capacity on 17.10.2017. Thereafter, CECB granted approval to NCL for Consent to Operate for 2 MTPA on 27.04.2019.

The updated Mining Plan of Bailadila Iron Ore Deposit-13 for the period from 2026-27 to 2030-31 was approved by IBM, Raipur on 13.12.2025.

On 30.09.2025, NMDC Ltd. submitted application for the transfer of final Forest Clearance (315.813 Ha.) in respect of BIOM Deposit - 13 from NMDC Ltd. to NMDC-CMDC Ltd. Accordingly, MoEF&CC, New Delhi has accorded approval for transfer of forest clearance from NMDC Ltd. to NMDC-CMDC Ltd. on 02.06.2026. The State Government has issued forest land diversion order for 315.813 Ha forest land to NMDC-CMDC Limited on 15.07.2026. The ground breaking at Bailadila Iron

Ore Deposit-13 has been done on 23.07.2026 and efforts are underway for the start of commercial mining operations from Deposit-13.

Ministry of Mines, GOI vide G.S.R.744(E) dt. 14.10.2021 granted reservation of Baloda-Belmundi Diamond Block for Prospecting Lease or Mining Lease in favour of NMDC-CMDC Limited under Section 17A(1A) of MMDR Act, 1957. NCL, vide letter dated 13.01.2022, submitted application to Secretary, MRD, GoCG for grant of Prospecting License for Baloda- Belmundi Diamond Block.

MRD, GoCG, Raipur vide letter dated 02.01.2023 has issued final grant order for prospecting licence of Baloda-Belmundi Diamond Block. PL deed of Baloda- Belmundi Diamond Block with GoCG was executed on 28.02.2023 and the same is registered on 01.03.2023.

District Collector, Mahasamund vide letter dated 26.05.2023 gave permission to NMDC-CMDC Limited to start the prospecting work. In first phase of prospecting work, 69 soil samples and 31 stream sediment samples were collected. Microscopic sorting work for 31 Stream Sediment samples, Geophysical ground magnetic survey, Resistivity (Geophysical) survey work and EPMA (Electron probe microanalyser) study of sorted samples has been completed.

Further, an agency has been appointed for conducting the pre-feasibility study of Baloda-Belmundi Diamond Block and the following works were completed:

• 70 No. Stream Sediment Samples collected and Preprocessing at Wadia Institute of Himalayan Geology, Dehradun and microscopic sorting of the collected samples completed. EPMA Analysis for 14 no. of samples have been completed.

• A cumulative borehole drilling of 500 meters (5 Angular Boreholes at 45 Degrees and 1 Vertical Borehole) has been achieved across 6 boreholes.

• Ground Magnetic Survey of 254 magnetic data points completed.

Further, 200 Tonnes of bulk samples were collected and transported to NMDC DMP, Panna for processing. The processing of the 200-tonne bulk sample has resulted in the recovery of five (5) diamonds with a total weight of 1.22 carats (after acid wash). Out of which 2 are of gem variety (total caratage of gem variety is 0.25 carat) and rest 3 are of NonGem Variety (total caratage of non-Gem variety is 0.97 carat).

NMDC has 4 (four) Subsidiaries, holds stake in 3 (three) Joint Venture Companies and 2 (two) Associates Companies. The details of subsidiaries, joint ventures and associate companies of NMDC are as follows:

Notes:

1. The subsidiaries of NMDC are managed through its respective Board of Directors. The framework for Subsidiary/Associate/JV Companies are as under:-

i) All investments in these Companies are approved/authorized by the Board of Directors.

ii) The Company nominates its representatives on the Board of these Companies.

iii) The minutes of the Board meeting of these Companies are placed before the Board of NMDC Limited.

2. Subsidiary/Associate/Joint Venture Companies have been categorized in line with disclosures as made in the financial statements. For details of subsidiaries/associate companies under closure, please refer to Form AOC-1 forming part of the Financial Statements.

3. During the year, the Company received a communication from the Administrative Ministry i.e. Ministry of Steel conveying the concurrence of Department of Investment and Public Asset Management (DIPAM), Ministry of Finance for incorporation of a Wholly Owned Subsidiary (WOS) in GIFT City, Gandhinagar, Gujarat. The incorporation of the subsidiary is in progress.

During the year, the Company has obtained various

Environmental Clearances (EC), Forest Clearances (FC),

Consents to Establish (CTE) and Consents to Operate (CTO)

for its mining and associated projects.

a) Consent to Establish (CTE) obtained on 16.05.2025 for capacity expansion of Deposit-5 (10 to 12 MTPA ROM) from Chhattisgarh Environment Conservation Board, Raipur under Air (Prevention & Control of Pollution) Act, 1981 & Water (Prevention & Control of Pollution) Act, 1974.

b) Renewal of Consent to Operate (CTO) obtained on 19.05.2025 for Deposit-10 (ROM 6 MTPA) from Chhattisgarh Environment Conservation Board under Air (Prevention & Control of Pollution) Act, 1981 & Water (Prevention & Control of Pollution) Act, 1974.

c) Renewal of Authorisation obtained on 22.09.2025 under the Hazardous and Other Wastes (Management & Transboundary Movement) Rules, 2016 for Deposit-5 from Chhattisgarh Environment Conservation Board, Raipur.

d) Consent to Operate (CTO) obtained on 03.10.2025 for capacity expansion of Deposit-5 (10 to 12 MTPA ROM) from Chhattisgarh Environment Conservation Board under Air (Prevention & Control of Pollution) Act, 1981 & Water (Prevention & Control of Pollution) Act, 1974.

e) Renewal of Consent to Operate (CTO) obtained on 20.01.2026 for capacity expansion of Deposit-5 from 10 to 12 MTPA ROM Iron Ore (20% expansion) from Chhattisgarh Environment Conservation Board under Air (Prevention & Control of Pollution) Act, 1981 & Water (Prevention & Control of Pollution) Act, 1974.

a) Extension of Consent to establish (CTE) obtained on 30.09.2025 for Iron Ore Beneficiation Plant from Chhattisgarh Environment Conservation Board under Air (Prevention & Control of Pollution) Act, 1981 & Water (Prevention & Control of Pollution) Act, 1974.

b) Consent to Operate (CTO) obtained on 27.02.2026 for Iron ore Beneficiation Plant at BIOM, Bacheli (4 MTPA) from Chhattisgarh Environment Conservation Board under Air (Prevention & Control of Pollution) Act, 1981 &

Water (Prevention & Control of Pollution) Act, 1974.

c) Consent to Operate (CTO) obtained on 27.02.2026 for Pellet Plant, Nagarnar (2 MTPA) from Chhattisgarh Environment Conservation Board under Air (Prevention & Control of Pollution) Act, 1981 & Water (Prevention & Control of Pollution) Act, 1974.

a) Consent to Operate (CTO) obtained on 09.04.2025 for multi-storied residential towers (Type-III, Type-V) from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

b) Validity extension of Environmental Clearance (EC) obtained on 19.05.2025 for Screening Plant-III and associated facilities (SP-III) project from State Level Environment Impact Assessment Authority (SEIAA) under the provision of the EIA Notification 2006.

c) Renewal of Consent to Operate (CTO) obtained on

10.07.2025 for Railway siding cum dispatch facilities (LTPA) and Mobile Crusher and screens (250TPH), Kumaramarenga Railway Siding from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

d) Renewal of Consent to operate (CTO) obtained on

12.08.2025 for Rapid Wagon Loading System (RWLS- 4000 TPH) from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

e) Renewal of Consent to Operate (CTO) obtained on

02.09.2025 for Deposit-11 (ROM Iron Ore 11.30 MTPA) from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

f) Consent to Establish cum Consent to Operate obtained on 23.09.2025 for Fine Ore Handling (FOH) System (4000 TPH) from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act 1981 and Water (Prevention & Control of Pollution) Act, 1974.

g) Extension of Consent to operate (CTO) amendment obtained on 03.10.2025 for residential towers for Type- III, Type-IV, Type-V from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

h) Renewal of Authorisation for Project Hospital, Kirandul Complex (89 bedded) obtained on 10.10.2025 under rule 10 of the Bio- Medical Waste Management Rules, 2016.

i) Consent to Operate (CTO) obtained on 04.11.2025 for SP- III (12 MTPA) and associated facilities from Chhattisgarh Environment Conservation Board for augment of Screening Plant under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

j) Renewal of Consent to operate (CTO) obtained on

30.12.2025 for Deposit-14 & 14NMZ (ROM 10.50 MTPA) from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

k) Renewal of Consent to Operate (CTO) obtained on

20.03.2026 for multi-storied residential complex from Chhattisgarh Environment Conservation Board under Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

a) Environmental Clearance was obtained on 22.01.2026 for Residential Towers at Donimalai from State Level Environment Impact Assessment Authority (SEIAA), Bangalore.

b) Final Forest Clearance was obtained on 27.01.2026 for regularisation of 96.868 Ha of Forest land, outside Mining Lease area at Donimalai (DIOM) from MoEF&CC, GOI

c) Forest Clearance was obtained from Under Secretary, Forest, Ecology & Environment Dept, Govt. of Karnataka on 16.10.2025 for regularisation of 16.50 Ha of Forest land, outside Kumaraswamy Iron Ore Mine, Donimalai.

d) Working permission was obtained on 31.10.2025 from DCF, Ballari for prospecting operations in the forest land to an extent of 281 Ha adjacent to Donimalai Iron Ore Mine under Forest Conservation Act, 1980.

a) Consent to Operate (CTO) obtained for Main Mining Lease (MML) of DMP, Panna on 25.06.2025 from Madhya Pradesh Pollution Control Board, Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

b) Consent to Operate (CTO) obtained for Supplementary Mining Lease (SML) of DMP, Panna on 25.06.2025 from Madhya Pradesh Pollution Control Board, Air (Prevention & control of pollution) Act, 1981 and Water (Prevention & Control of Pollution) Act, 1974.

a) Stage-1 Forest Clearance was obtained on 23.06.2025 under section 2 (1) (ii) of the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980 for 682.2722 Ha (570.100 Ha inside lease and 112.1722 Ha outside lease) of forest land for Bailadila Iron Ore Deposit-4 Mine in favour of M/s NMDC-CMDC Limited (NCL).

b) Ministry of Environment, Forest & Climate Change (MoEF&CC), GoI, New Delhi has granted Environmental Clearance on 09.08.2025 for Bailadila Iron Ore Mine, Deposit-4 for 7.0 MTPA ROM Iron Ore and 6.41 MTPA waste excavation located at Village Bhansi, Tehsil Bacheli, Dantewada Distt, CG.

c) State level Environmental Impact Assessment Authority, Raipur, accorded Environment Clearance (EC) on 22.9.2025 for Screening Cum Beneficiation Plant (750 TPH of 4 lines each) along with 2000 TPH Downhill Conveyor and Loading Facilities in Forest area- 100.077 Ha and Revenue land (Govt., Private and Bade Jhad ke Jungle) -22.4658 Ha. located at outside the Mining Lease area of Bailadila Iron Ore Deposit-4.

d) Final Forest Clearance was obtained on 20.11.2025 from MOEFCC for the diversion of 682.2722 Ha of forest land for Deposit-4 of NMDC-CMDC Ltd under FC Act 1980.

e) Consent to Establish (CTE) was obtained on 02.02.2026 (ROM 2.0 MTPA capacity) for Deposit-4, Bailadila Iron Ore Mine at Village Bhansi, Dantewada Distt under Air (Prevention & control of pollution) Act 1981 and Water (Prevention & Control of Pollution) Act, 1974.

f) Consent to Operate (CTO) was obtained on 20.02.2026 for Deposit-4 (ROM 2.0 MTPA capacity) for Deposit-4, Bailadila Iron Ore Mine Air (Prevention & control of pollution) Act 1981 and Water (Prevention & Control of Pollution) Act, 1974.

g) The Forest Department handed over 60.90 Ha of land within the Mining Lease area on 26.02.2026 for commencement of initial mining operations Deposit-4, Bailadila Iron Ore Mine.

a) MOEFCC has granted TOR on 17.01.2026 for capacity expansion of Deposit-11 ML from 11.3 to 14.50 MTPA and waste excavation from 2.7 to 15.39 MTPA Forest Clearance proposals for additional land and change in land use for expansion projects are under process with the concerned authorities.

b) Online proposal submitted through Parivesh on

11.05.2026 for obtaining of TOR for capacity expansion Bailadila Iron Ore Mine, Bacheli Complex, Deposit-5 from 12 to 20 MTPA and waste excavation from 6 to 14 MTPA.

1. Plantation drives were carried out under the campaign "Ek Ped Maa Ke Naam" with participation of employees, their families and local communities at BIOM, Kirandul, Bacheli, Donimalai and DMP, Panna projects.

2. Fruit bearing tree were distributed to the local people and nearby villages by BIOM, Bacheli, Kirandul and Donimalai projects.

3. Air pollution control measures such as water sprinkling on haul roads, dust suppression systems, fog cannons and covered conveyors being continued to maintain ambient air quality within prescribed limits.

4. Water management measures such as garland drains, check dams and settling ponds are being maintained to prevent contamination of natural water sources.

5. Green belt development around mining areas, plants and townships being continued.

a) NMDC projects are operating in compliance with the conditions stipulated in Environmental Clearances and Consents.

b) Half yearly compliances and environmental statement are being submitted timely to MOEFCC and State Pollution Control Boards.

c) Returns under Batteries waste management rules and Hazardous waste management rules are submitted timely to state pollution control boards.

d) Regular environmental monitoring of Micro-metrological conditions, ambient air quality, water quality, noise quality, fugitive dust, work zone noise, soil quality being conducted seasonally through recognised consultants of MOEFCC/CPCB and the reports are submitted to regulatory authorities.

e) Ground water levels and water quality monitoring being conducted on seasonal basis and the reports are submitted to the MOEFCC and SPCB.

f) Continuous Ambient Air Quality Monitoring systems were installed in every project, the data on real time being displayed and the data being transferred to State PCB.

The environmental attributes, which are likely to be affected in the region are land use, topography, water resources, soil, air quality, socio-economic status, ecology and public health.

Measures to address some of the environmental aspects are as follows:

(i) Land use: Land reclamation and rehabilitation along with the plantation will be done during the closure of the mine.

(ii) Topography: The mining would marginally affect the overall view of the area, but will grossly modify the local topography of the mined area at the end of mining. The course of the present natural drainage system will not be affected due to the present and future mining operations. Several environmental protective measure like buttress wall, garland drain, check dams, settling ponds etc. are being constructed in and around the mining area to arrest the foreign material for further restricting the natural water to be polluted. Periodical maintenance are being continued.

(iii) Air Quality: The control measures adopted at all of our mines to ensure the ambient Air Quality Standards are as follows:

• Proper maintenance of the heavy earth moving machinery and vehicles.

• Regular water sprinkling over the haul road as well as over mine benches is being carried out by water sprinklers of higher capacities.

• Haul roads are graded regularly to clear accumulation of loose materials & kept wet with water sprinkling.

• Wet drilling during primary & secondary drilling.

• Use of sharp drill bits for drilling holes.

• Blasting is carried out with optimum charge.

• Avoiding blasting during high windy periods.

• Avoiding excess filling of dumper & consequent spillage on the road.

• Dust suppression with mist fog systems have been installed in crushing plants, downhill conveyor, stockpiles, loading plant areas etc. Dust suppression by atomized spray in primary crusher.

• The dry fog dust suppression system shall be continued at different transfer points during the non-monsoon season.

• Covering of conveyors & using under chutes at all the transfer points.

• The screening plant is housed in a huge GI sheet enclosure, which acts as a good shield for the prevention of dust particles escaping out of the plant building.

• Fog canons provided at Loading plant for suppression of dust.

• Fixed water sprinklers in the loading plant areas are provided and maintained.

• Covering of all stock piles.

• Creating green belt around the perimeter of all the plants.

• Ensuring good housekeeping within plant premises.

• Barrier plantation is being done at various places in the townships areas such as along roadsides, parks and colonies etc.

(iv) Water Quality: The following control measures to arrest

water pollution:

• Every year before onset of the monsoon de-silting of Check dams & Check bunds being done to arrest the overflow of the silt into the Nallah.

• Regular water sampling is being continued every year during winter period, pre-monsoon period and post monsoon period.

• Rain water run-off from the waste dumps channelized into nearby nallas through garland drains, treated in check dams.

• Buttress walls constructed and maintained to arrest the silt load and thereby reducing the impact on the water quality.

• In order to mitigate the impact on local water bodies, Buttress walls and garland drains constructed around the dumps to prevent the flow of slime into the natural water course.

• Effluents generate from the service center and auto workshop are being treated in effluent treatment plant (ETP). The outflow/ treated water being used for green belt generation.

(v) Noise Levels: Higher noise levels may be generated

due to mining operations such as drilling, blasting and

excavation. The following are some protective measures:

• Workers are not allowed to enter or work in to high noise prone area without wearing earmuffs.

• Personal Protective Equipment (PPEs) like earmuffs and ear plugs are provided to all the employees and workers operating in mines and plant areas.

• Noise-proof & dust-proof air-conditioned cabins are provided for all HEME.

• To isolate employees from noise and dust, sound proof cabins are installed in crushing and screening plants.

• Proper and periodical maintenance of HEM machinery

• Noise level during blasting is controlled by use of NONEL, optimum charge of explosive and proper stemming of blast holes.

• The speed of dumpers is limited to a moderate speed of 25 Kmph.

• In order to mitigate the noise source, rubber linings are provided to the vibrating screens, chutes and feeders at raw material transfer points.

• The transfer points all along the downhill/uphill conveyor are provided with proper rubber lining to reduce the noise generation.

1. Energy audits are conducted at regular intervals across the Iron Ore projects of NMDC through

collaboration with expert agencies. The recommendations arising from these audits are reviewed and appropriately implemented to enhance energy efficiency and operational performance.

2. Minimum feed rates are maintained during the downhill transportation of iron ore from the mines to the screening plant to enable power generation, which is utilized within the plant itself, resulting in energy savings.

3. The following measures are being adopted:

• Solar Cell Sensor Switches and Solar Lights are provided.

• Solar heaters/solar devices are in use at hospitals, canteens, buildings and parks.

• Energy-efficient motors have been installed in the Screening Plant.

• Power generation through a downhill conveyor.

• Leakages of oil, fuel or lubricants are plugged. Used oil, batteries and cotton waste are collected and sold through authorized agencies.

• Solar panels will be installed on the roof of field offices, stores, OCSL plant structures and conveyors depending on feasibility and advancement of technology.

The following measures are undertaken to limit the Peak Particle Velocity (PPV) generated due to blasting within the permissible limits.

• Proper blast design;

• Avoiding excess confinement of charges;

• Nu m ber of blast holes per d ay shall be kept one;

• Proper stemming of holes shall always be carried out;

• Blasting is avoided during foggy weather and adverse weather conditions.

• Blasting operations are carried out only during day time;

• A safe distance of about 500-m from center of blasting is maintained and during blasting, other activities in the immediate vicinity are temporarily suspended.

• Further, the existing afforestation also helps in reducing the noise and vibration level to some extent.

NMDC has an Environmental Policy with a commitment to protect the environment. NMDC makes genuine efforts to control pollution and meet statutory requirements. Further, all the Iron Ore Mining Complexes have got separate Integrated Management System (IMS) Policy (comprising of ISO 9001:2015, ISO 14001:2015, 001:2015 ISO 45001:2018 and SA 8000:2014). The certifications to NMDC Ltd have been accorded by the external agency "M/s DNV Business Assurance India Private Limited" for the scope of "Mining, Processing and supply of Iron Ore" for FY 2025-26.

All the operating Mining Leases are submitting the Mining Plan along with Progressive Mine Closure Plan (PMCP) for review and update in every five years period to Indian Bureau of Mines (IBM) for obtaining approval. All the mining activities, including reclamation and protective measures, are being carried out in accordance with the approved Mining plan only.

Before closing of any of the Mines, we are abiding to submit the Final Mine Closure Plan (FMCP) proposal in well advance (Two years prior to the closure of mines) as per the extant provisions of Mineral Conservation and Development Rules, 2017 for obtaining approval of IBM for carrying out final reclamation measures in Mine. By complying with the FMCP, NMDC will undertake all the reclamation and rehabilitation activities to return the degraded land into its original state as far as possible and if same is not feasible then convert the same area which will be of economic value and will not create any threat to the society.

NMDC always work to emerge as a Global Environment Friendly Mining Organization committed to rehabilitate land to minimize negative impacts and maximize benefits.

All operating mining leases submit their respective Mining Plans along with the Progressive Mine Closure Plans (PMCP) to the Indian Bureau of Mines (IBM) for approval. These plans are reviewed and updated every five years, in accordance with the statutory requirements. Mining operations are

carried out in alignment with the approved PMCP, ensuring that all prescribed protective and environmental safeguards are effectively implemented.

In accordance with the provisions of the Mineral Conservation and Development Rules, 2017, the Final Mine Closure Plan (FMCP) is submitted at least two years prior to the proposed closure of any mine. This plan outlines all necessary reclamation and rehabilitation measures to restore the degraded land to its original state as far as possible. Upon approval, NMDC undertakes the execution of all activities as detailed in the FMCP proposal.

Prior to initiating the final mine closure activities, advance intimation is provided to the DGMS and Ministry of Environment, Forest and Climate Change (MoEF&CC) as a part of the compliance protocol.

As part of our environmental compliance, half-yearly reports are submitted to MoEF&CC and an annual Environment Statement is filed with the respective State Pollution Control Board, detailing the environmental management measures undertaken.

NMDC also submits the Annual Return to the Indian Bureau of Mines, which includes detailed information on reclamation and rehabilitation activities carried out during the previous year. Additionally, drone survey data covering the mining lease area and a 100-metre periphery are submitted, in line with IBM guidelines.

Our environmental policy is reinforced by the implementation of ISO 14001 at our Bacheli, Kirandul, Donimalai and Panna mines. The Environmental Management System (EMS) at each project site undergoes third-party audits on yearly basis to ensure compliance and continual improvement.

To support this framework, each of our project sites is equipped with a specialized environmental management team comprising domain experts. This reflects our strong commitment to conserving natural resources, reducing fugitive emissions, minimizing the environmental impact of operations and fostering environmental awareness among employees and the local community.

We maintain active collaborations with renowned institutions such as the Indian Council for Forestry Research and Education (ICFRE), IIT-ISM Dhanbad, NIT Raipur and VNIT Nagpur. These partnerships help strengthen our technical capabilities and provide expert guidance in enhancing our environmental protection initiatives.

Our approach to environmental stewardship reflects our broader commitment to sustainable mining practices. We recognize the environmental and social impacts of our operations and have developed a structured framework to address them through interlinked focus areas. Each focus area is supported by an internal management protocol, shaped through rigorous peer review and in alignment with evolving disclosure standards.

This framework is integral to our environmental charter and closely aligned with our growth strategy, ensuring that sustainability remains central to our long-term operational vision.

The "Mine Closure Obligation Scheme" was voluntarily introduced by NMDC during the financial year 2009-10. Under this initiative, NMDC currently contributes INR 13 to 94 per tonne of ore excavated based on the individual project, with the amount being deposited with LIC. These funds are earmarked for implementing various components of the Mine Closure Plan, including land reclamation, stabilization of waste rock dumps, demolition of infrastructure and reforestation of disturbed areas.

As of 31.03.2026, the total corpus accumulated with LIC under this scheme stands at Rs.1,469 crore.

The responsibility for the implementation of the Conceptual Mine Closure, Reclamation & Rehabilitation Management Plan of all the Mines rests with the Management Team at different Project of NMDC. Internal reporting requirements are being outlined by the Management at different projects and are delegated to the relevant staff.

All the closure activities, reclamation & rehabilitation plans are being executed as per the approved Progressive Mine Closure Plan.

Further, during the Final Mine Closure, all the closure activities will be taken care of as per the approved Final Mine Closure Plan.

NMDC has its training centres in all its projects. They are equipped with infrastructure as required under Mines Vocational Training Rules. These centres cater to the needs

of basic training, refresher training and training for skilled workers and also for those injured on duty.

Health & Safety continue to be our priority with employees & contractual workmen at our Projects adhering to the SOPs & Safety norms. NMDC appreciate that safety is a journey & is committed to continually improve its performance and set high standards.

In each mining project of NMDC sufficient number of Workmen Inspectors are nominated/appointed for Mining operations, Mechanical and Electrical installations as per statutory requirements for carrying safety inspections.

Mine Level Tripartite Safety Committee Meetings (MLTSCM) are being conducted once in a year at Project Level with Senior Officials, Union Representatives and DGMS Officials in which Safety Performance and its appraisal are made and the recommendations are implemented.

Corporate Level Tripartite Safety Committee Meeting is being held regularly once in a year at Head Office and the recommendations are implemented.

NMDC is committed to maintaining the highest standards of safety across all its mining operations. To ensure robust safety governance, Safety Committees have been constituted at each operating mine. Monthly Pit Safety Meetings are held to discuss safety issues, review workplace conditions and implement necessary corrective measures.

A comprehensive Safety Management Plan (SMP) has been implemented across all mines. As part of this system, regular Risk Assessment studies are undertaken to proactively identify and mitigate potential hazards in the workplace.

To further enhance safety standards and ensure compliance with evolving regulations, Internal Safety Audits have been institutionalized. These are carried out at two levels:

• Intra-project safety audits, conducted within each project on a regular basis.

• Inter-project safety audits, conducted every six months, also enabling cross-learning and standardization of best practices across projects.

In addition, External Safety Audits form an integral part of our safety assurance process. These audits are conducted in collaboration with expert agencies such as M/s ESCI, providing an independent evaluation of our safety systems and helping identify areas for improvement.

Safety training is a key focus area in NMDC's operational philosophy. Extensive safety training programmes are

conducted regularly to instill safe work habits and create a strong safety culture among employees. Behaviour-Based Safety (BBS) training is also provided to promote awareness, accountability and proactive safety behaviour at all levels of the workforce.

(Severity Rate = man-days lost per 100000 Man-days worked). OHS Activities:

Occupational Health Services (OHS) have been provided with adequate manpower and infrastructure and are functioning in full-fledged manner at all the Projects, headed by Qualified Doctors trained in OHS at Central Labour Institute, Mumbai.

Periodical Medical Examination under statute is carried out regularly in all the projects.

NMDC strives to ensure that workers are not exposed to occupational hazards that negatively affect their health. NMDC also has well equipped hospitals with capable medical teams available 24/7 to support the health & wellbeing of the workers & the surrounding community.

Integrated Management System (IMS) Comprising of Quality Management System (QMS) - ISO 9001:2015; Environmental Management System (EMS) - ISO 14001:2015; Occupational Health & Safety Management System (OHSMS)- ISO 45001:2018 & Social Accountability - SA 8000:2014 Certification Standards.

All the NMDC Production Projects viz. Bailadila Iron Ore Mine, Kirandul Complex (BIOM, KC); Bailadila Iron Ore Mine, Bacheli Complex (BIOM, BC); Donimalai Iron Ore Mine & Kumaraswamy Iron Ore Mine, Donimalai Complex (DIOM & KIOM), DMP Panna are accredited with Integrated Management System (IMS).

With the objective of improving transparency in procurement, NMDC had entered into MOU with Transparency International India for implementation of Integrity Pact Programme during September 2007. NMDC is the first Mining Navratna Company which entered into Integrity Pact Programme in the year 2007.

Initially, the threshold value for procurement & contracts for entering into the Integrity Pact have been fixed as follows: -

To widen the coverage of procurements/contracts under Integrity Pact, the threshold limits have been revised during 2009 as under:

Subsequently, to cover majority of cases under Integrity Pact, the threshold limits have been reduced to '1.00 crore for procurements/contracts w.e.f. September 2018.

During 2025-26, 585 tenders valuing Rs.9,692 Crores were covered under this category.

In order to enhance transparency in procurements & increasing competitiveness, our Company adopted the following modes of tendering:-

All procurement tenders are processed through e-Procurement mode at HO & Projects. Reverse e-auctions are conducted for high value Equipments, spares & consumables, wherever possible, by declaring upfront in the tender document.

Procurement through GeM portal as per the guidelines of GOI. Total 2,345 orders valuing Rs.1,013 crores of orders were issued through GeM portal during the year 202526, against the targeted value of Rs.550 Crores.

Materials Management department tenders which are floated outside GeM portal are publishing on the CPP portal. All the bidders approaching through CPP portal for entering in NMDC are invited for registration with NMDC or conducting trial with NMDC for ensuring their quality product.

a) Bonus Clause: Incorporated in all HEMM tenders.

b) Dashboard for FLM: Implemented for FLM - To monitor live status of file & Delay analysis

c) Integration of Weighbridges with SAP: Implemented at Projects

d) Tool for uploading Rate Contract Price list (SAP): Implemented in SAP

e) Tender Enquiry Register (SAP): Implemented at all Projects

f) Gate Entry process for incoming consignments implemented at all projects (SAP): Implemented at all Projects

g) Returnable & non-returnable gate pass entry process implemented at all projects (SAP): Implemented at all Projects

h) MSE Payment Status Report (SAP): Implemented in SAP

i) CEPA- BCD & Social Welfare surcharge have been considered for evaluation for the first time. Total duty benefit of '1.62 Cr. - Benefit availed

Materials Management department is utilizing the NMDC e-Procurement portal to carryout procurement activities in e-Procurement mode. The tenders which are processed outside GeM will be done through SRM portal. Open Tender Enquiry - OTE has been developed and enabled. Global Tender Enquiry - GTE has been developed and enabled (With multi-currency option)

NMDC & its Subsidiaries have been completed registration on all five TReDS platforms (i.e. RXIL, Invoicemart (A.TReDS Ltd), M1Exchange, C2TReDS & DTX KredX) platforms to release the payments of all MSME firms against their acceptance and confirmation.

NMDC has conducted various vendor meets with MSME firms in association with MSME, Hyderabad and instructed all MSME firms to register any one of TReDS portal to process their payment through TReDS platform and NMDC has released payment through TReDS to some MSMEs.

NMDC's R&D Centre is dedicated to undertaking product and technology development projects related to ores, minerals and iron & steel making, with the objective of sustaining excellence in process performance and operational efficiency.

The R&D Centre has made significant contributions not only to NMDC's operational projects but also to the broader

Indian mining and metallurgical industries. In recognition of its research capabilities and technological contributions, the Centre is recognized by the Department of Scientific and Industrial Research (DSIR), Government of India.

The Centre undertakes research and consultancy activities in the areas of mineral processing, flowsheet development, mineralogical investigations, bulk material handling and storage, metallurgical studies of iron ore and coal and advanced chemical analysis. It has emerged as a pioneer in the field of mineral beneficiation and continues to focus on the development of sustainable dry beneficiation technologies for various ores and minerals.

The R&D Centre is equipped with state-of-the-art laboratory and pilot-scale facilities for characterization and analysis of minerals, coal, metals, non-metals and critical minerals, thereby supporting innovation, process optimization and technology development across the mineral value chain. The centre is also strengthening and incorporating facilities for analysis and processing of critical minerals in line with the national focus on mineral security and strategic resource development.

For further details, reference may be made to Annexure-II attached to the Board's report.

NMDC made several meaningful efforts during the year 2025-26 to effectively ensure the implementation of the Official Language Policy of the Government of India at its headquarters, projects and units. Some of the key initiatives are as follows:

• Hindi workshops were organized every quarter at the headquarters as well as in all projects.

• Meetings of the Official Language Implementation Committee were held every quarter.

• To promote the use of the official language at the Hyderabad city level, an inter PSU Hindi Elocution Competition was organized on 22.07.2025, for employees of all PSUs located in Hyderabad.

• A Hindi workshop for all PSUs was organized on 20.02.2026, under the aegis of the Town Official Language Implementation Committee (Undertakings), Hyderabad-Secunderabad.

• Hindi Month was celebrated at the Corporate Office as well as in all projects and units. On this occasion, messages from the Chairman-cum-Managing Director

were published in Hindi newspapers circulated from Hyderabad and were also shared on social media platforms. Various competitions were organized and prizes were distributed. To maintain continuity in the use of the Official Language Hindi in official work, monthly Hindi competitions were organized in addition to the Hindi Fortnight and prizes were awarded as encouragement.

• Official Language house journal of Corporate Office "Khanij Bharati" was published regularly.

• Hindi/Bilingual/Trilingual magazines such as Baila Samachar, Bacheli Samachar, Doni Samachar, Hira Samachar, etc., were also published from the production projects. In addition, an annual Official Language magazine titled "Sarjana" was published from Kirandul Complex.

• All India Conference of Official Language Officers was organized by NMDC Limited, Hyderabad, under the aegis of the Ministry of Steel on 23.01.2026. Senior officials from the Ministry of Steel, its subordinate PSUs, member offices of TOLIC (Undertakings), Hyderabad- Secunderabad, as well as Senior officers, Official Language Officers and employees from all projects and regional offices of NMDC participated in the conference.

• At the Hindi Day celebration organized by the Department of Official Language, Ministry of Home Affairs, on 14.09.2025 and 15.09.2025 in Gandhinagar (Gujarat), NMDC Limited was honoured with the Rajbhasha Kirti (First) Award.

• Additionally, NMDC Limited's Diamond Mining Project, Panna, was awarded under the "Commendable Category" for commendably fulfilling the responsibilities of the Town Official Language Implementation Committee, Panna.

• NMDC Limited Headquarters received the Rajbhasha Shield -(First) Award in the category of medium-sized PSUs from the Town Official Language Implementation Committee (PSUs), Hyderabad-Secunderabad on 29.05.2025.

• The Corporate Office's official language house journal "Khanij Bharati" also received the First Prize in the e-magazine category from the Town Official Language Implementation Secunderabad Committee (Undertakings), Hyderabad.

• "Khanij Bharati" was further honored with the First Prize in the Hindi Magazine Category for 2025 by PRCI and the Gold Award for 2025 by PRSI.

The Company has taken the following steps to procure goods and services from MSE firms, MSE SC/ST & Women entrepreneurs. NMDC has conducted exclusive MSE SC/ST vendor meets at its projects in Chhattisgarh and Karnataka and also at Hyderabad to understand the tender process and our requirement.

NMDC has participated in the various vendor meets organised by Ministry of Micro, Small & Medium Enterprises in association with FICCI/DICCI. Besides NMDC has organised 15 Nos. Vendor Meets/programmes at various places in total during 2025-26. NMDC interacted with prospective MSE entrepreneurs encouraging them for supply of goods for various plants at Bailadila, Donimalai & Panna.

For encouraging MSE SC/ST firms, exclusive trials are being conducted and after successful trials the firms are given tender enquiry in Limited Tender. Moreover, against the qualification criteria in tenders we have not received any complaint/request with regard to relaxing tender terms & conditions.

Timely payments were made to MSE vendors during the financial year 2025-26 in compliance with the MSMED Act, 2006 i.e. within 45 days from the appointed day.

All above details are updated on Samadhaan Portal on monthly basis.

The employee strength of NMDC as on 31.03.2026 was 5,730.

The overall industrial relations situation was peaceful and cordial during the year. There was no strike/lock against the Company's polices affecting production and productivity.

NMDC achieved iron ore production of 53.158 MNT during the financial year 2025-26, registering an HR productivity of 5,957 tonnes per employee based on the 12-month average of regular and contractual personnel.

55 persons belonging to Scheduled Castes and 39 persons belonging to Scheduled Tribes were appointed during the year 2025-26 against 271 posts filled in direct recruitment.

The manpower strength of NMDC as on 31.03.2026 was 5,730. Other details are as under:

2014 as amended: Nil

Adequate facilities for education, health, accommodation,

creche across all projects and recreation were in place.

Various Bipartite fora have been functioning satisfactorily.

1. NMDC organized Inter-Project Tournament (IPT) sports events for employees during the year 2025-26 to promote physical fitness, team spirit and healthy industrial relations.

2. Sports activities at Project/U nit/Regional Office/ Corporate Office levels were organized for employees and their wards to encourage participation in sports and recreational welfare activities.

NMDC Limited is committed of providing a safe, secure and respectful work environment for all employees, with special emphasis on ensuring the dignity and protection of women at the workplace. The Company strictly complies with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

In accordance with the Act, Internal Committees (ICs) have been constituted at all establishments and Projects of NMDC. These committees are empowered to receive and redress complaints related to sexual harassment in a timely and confidential manner.

Awareness programs and sensitization workshops have been conducted during the year to educate employees about appropriate workplace conduct and the mechanisms available for redressal.

a. No. of complaints of sexual harassment at the start of the year: 02

b. No. of complaints of sexual harassment received during the year: 01

c. No. of complaints of sexual harassment disposed of during the year: 02

d. No. of complaints of sexual harassment cases pending for more than ninety days: 01

NMDC remains fully committed to fostering a work culture that is free from harassment, promotes gender equality and upholds the highest standards of integrity and respect.

NMDC Limited is committed to upholding the rights and welfare of women employees in accordance with the provisions of the Maternity Benefit Act, 1961. The Company ensures that all eligible women employees are provided maternity benefits as prescribed under the Act, including paid maternity leave, nursing breaks and protection against dismissal during maternity leave.

During the financial year, NMDC has strictly adhered to all statutory provisions of the Maternity Benefit Act, including amendments thereof. Awareness sessions and communication regarding entitlements under the Act have also been conducted for employees. Suitable facilities and

a supportive work environment are provided to ensure the health, dignity and well-being of women employees during and after maternity.

The Company remains committed to promoting gender equity and supporting a family-friendly workplace.

During the financial year 2025-26, Corporate HRD organized the following programmes:

a) External Training: Employees were sent for various Training Programmes, Seminars, etc. which were organized by various external organizations, institutes and professional bodies.

b) In-Company Training: Curated Programmes were conducted by engaging reputed organizations, Trainers, institutes and professional bodies on the following subjects.

• Data Analytics Toolkit - Practical training on Excel and Power BI

• Building a Professional Image: Personal Growth, Grooming and Etiquette

• Happiness and wellbeing: Mind Fitness and Life Skills experience programme

• Disciplinary Rules & Procedures including framing of charge sheet

• Contracts Management, Preventive Vigilance

• Vision 2030: Future Strategy and Growth Enablers

• Latest Developments in Labour Laws and New Labour Codes

• Programme on Reservation Policy for SC/ST/OBC/ PWD/EX.SM & EWS in PSEs

At NMDC Limited, leadership continuity and talent sustainability remain integral to the organization's longterm growth strategy. During FY 2025-26, focused efforts were undertaken to strengthen succession planning mechanisms and build a robust leadership pipeline aligned with the Company's strategic and operational objectives.

The Company continued to institutionalize a structured succession planning framework aimed at identifying, nurturing and preparing high-potential executives for key leadership and critical operational positions across Corporate Office, Projects and Production Units.

The framework emphasizes:

• Identification of critical roles and competency mapping;

• Assessment of leadership potential and readiness levels;

• Development of internal talent pools for strategic positions;

• Career progression planning through structured interventions; and

• Ensuring continuity in leadership and operational excellence.

Periodic reviews were conducted at various organizational levels to assess succession readiness, talent availability and future manpower requirements, particularly in core mining, technical, finance, HR, projects and strategic functions.

Recognizing the evolving business environment and technological transformation in the mining and steel sectors, the Company undertook multiple leadership development initiatives during the year to equip executives with future-ready capabilities.

Key interventions included:

• Executive Development Programmes (EDPs)/Management Development Programmes (MDPs) through premier management institutes;

• Leadership competency enhancement programmes focusing on strategic thinking, decision-making, innovation, digital transformation and change management;

• Cross-functional exposure and job rotation initiatives to broaden managerial capabilities;

• Mentoring and coaching support for high-potential executives;

• Capacity-building programmes on emerging technologies, sustainability, ESG and AI-enabled business transformation;

• Participation of senior executives in national and international leadership forums, seminars and industry conferences.

Special emphasis was placed on developing next- generation leaders capable of driving organizational transformation, operational efficiency, stakeholder engagement and sustainable growth.

The Company continued to align its talent development initiatives with business expansion plans, digital initiatives and succession requirements. Structured learning pathways, competency-based development and performance-linked growth opportunities were strengthened to enhance employee engagement and leadership readiness.

Efforts were also directed towards fostering a culture of continuous learning, innovation, accountability and collaborative leadership to support NMDC's vision of becoming a globally competitive mining organization. Through these initiatives, NMDC remains committed to building a resilient leadership pipeline and ensuring sustained organizational excellence in the years ahead.

In terms of the directives of DPE, Government of India, no foreign trainings were organized. However, Corporate HRD facilitated for participation in various international events as below:

• Mining World Congress-2025 at Moscow, Russia

• International Mining & Resource Conference (IMARC) 2025.

• Conference on Iron Ore & Coking Coal at Singapore.

• The World Expo - 2025 at Osaka, Japan.

• The Mining Show-2025 at Dubai

• Future Mineral Forum at Riyadh, Saudi Arabia

• Mining Indaba-2026 at Cape Town.

• Advanced Global Techno Management Programme-2025 by ASCI in Europe

• Advanced Leadership Programme by IPE in Europe

• Advanced Strategic Innovation Management Programme for Metal and Mining Industry by ASCI in Europe

• Advanced Global Leadership Programme by SCOPE in Europe

• Jagruti - Mind Fitness & Life Skills Leadership Experience Programme in Malaysia

The Prime Minister Internship Scheme (PMIS) was implemented during FY 2025-26 across the production projects of NMDC Ltd. in accordance with the guidelines issued by the Ministry of Corporate Affairs, Government of India. Under Round-II of the Scheme, a total of 568 internship opportunities were offered and 11 interns joined NMDC during FY 2025-26.

As a socially responsible and environmentally conscious Corporate Citizen, NMDC remains steadfast in its commitment to fostering inclusive growth, sustainable development and community empowerment in the areas surrounding its operations. Guided by the philosophy of creating shared value and ensuring that the benefits of economic progress reach the most vulnerable sections of society, the Company continues to implement transformative CSR interventions across education, healthcare, nutrition, skill development, rural infrastructure, livelihood enhancement and community welfare.

Over the years, NMDC's CSR initiatives have evolved beyond conventional community development programmes into longterm, high-impact interventions aimed at creating sustainable socio-economic outcomes. Through strategic investments in human capital, community infrastructure, healthcare access and livelihood generation, the Company strives to improve the quality of life of local communities, particularly tribal populations, women, children, youth and other disadvantaged sections of society. These initiatives are aligned with national development priorities, the provisions of the Companies Act, 2013 and the United Nations Sustainable Development Goals (SDGs).

During FY 2025-26, NMDC continued to reinforce its role as a catalyst for social transformation by undertaking a wide range of impactful programmes designed to promote educational advancement, strengthen healthcare delivery, enhance

employability through skill development, improve rural infrastructure and create sustainable livelihood opportunities.

NMDC continued to support and operate the residential school for tribal children at Nagarnar, Bastar District, Chhattisgarh. Established during FY 2010-11, the school presently provides quality education to around 431 students from Classes I to XII, thereby contributing significantly to educational advancement and human capital development in the region.

The Company continued to operate Industrial Training Institutes at Nagarnar and Bhansi in Bastar and Dantewada districts of Chhattisgarh, imparting industry-relevant vocational and technical education to local youth. The annual intake capacity of the institutes is 36 trainees at Nagarnar and 128 trainees at Bhansi.

In a significant step towards expanding employability-oriented training opportunities, the Board approved the introduction of the Computer Operator and Programming Assistant (COPA) trade at NMDC ITI, Bhansi. The required infrastructure and support facilities are being established and the affiliation process is currently underway. The course is expected to commence shortly.

The Company continued its support to the Mid-Day Meal Programme in the vicinity of its Donimalai operations, benefiting approximately 8,000 students across 38 Government schools located within a 25-kilometre radius. The initiative contributes to improved nutritional outcomes, enhanced school attendance and better learning outcomes among children.

Under this flagship scholarship programme, financial assistance is extended to girl students from Bastar Division in Chhattisgarh and Donimalai in Karnataka to encourage continuation of education beyond the elementary level. The scheme

is pivoted to the cause of promoting girls' education and reducing educational discontinuity among economically disadvantaged families.

NMDC continued to support the operation of the Polytechnic College at Dantewada, offering diploma programmes in Mechanical and Electrical Engineering with an annual intake capacity of 126 students. The institution serves as an important platform for developing a skilled technical workforce and enhancing employability among local youth.

One of the Company's most impactful educational initiatives, the Balika Shiksha Yojana sponsors tribal girl students from Bastar Division for professional nursing education. During FY 2025-26, the annual intake under the programme was enhanced from 85 to 200 beneficiaries, reflecting the Company's commitment to strengthening healthcare capacity in the region.

Since its inception in FY 2011-12, the programme has supported 760 students, of whom 317 have successfully completed their education and secured gainful employment. The initiative has contributed significantly towards creating a skilled healthcare workforce while generating sustainable livelihood opportunities for tribal women.

During FY 2025-26, NMDC launched another flagship educational initiative through sponsorship of tribal students pursuing B.Sc. programmes in Allied Health Sciences at Apollo University, Chittoor. Under the programme, 90 tribal students from Bastar and Dantewada districts were sponsored to pursue professional medical technology courses. The initiative aims to create career opportunities for tribal youth in emerging healthcare sectors and also bridge the gap in healthcare manpower availability.

NMDC continued to provide operational support to several transformative educational institutions, including:

• Aastha Gurukul, a residential school with a capacity of 1,200 students catering to orphaned

children, Scheduled Castes, Scheduled Tribes and economically weaker sections of society;

• Saksham-I and Saksham-II, fully residential institutions exclusively serving specially-abled children, with a combined capacity of 200 students; and

• Choo Lo Aasmaan, an integrated coaching programme for engineering and medical entrance examinations, coupled with regular schooling for students from Classes IX to XII, benefiting 160 students annually.

These institutions continue to provide inclusive and equitable educational opportunities to children from vulnerable sections of society.

NMDC continued to provide free healthcare services to local communities through its Project hospitals at Kirandul, Bacheli and Donimalai, as well as through the CSR Health Centre at Nagarnar. The Company also operated Hospital-on-Wheels mobile medical units and organized regular medical camps in remote and underserved villages, thereby improving access to quality healthcare services and strengthening preventive healthcare outreach.

The Company continued its flagship eye-care programme aimed at eliminating preventable blindness in Ballari District through comprehensive eye screening, free cataract surgeries, vision correction services and community awareness programmes. The initiative has significantly enhanced access to quality eye care services for economically weaker sections of society.

NMDC undertook various infrastructure development works in villages surrounding its operational areas, including construction of cement concrete roads, drainage systems, culverts, community centres, boundary walls and other civic amenities. These interventions have contributed to improved connectivity, sanitation, public infrastructure and overall quality of life for local communities.

The Company has sponsored advanced skill development programmes for tribal youth from Bastar Division through the Central Institute of Petrochemicals Engineering & Technology (CIPET), Hyderabad. The initiative is aimed at enhancing employability, strengthening technical competencies and creating sustainable livelihood opportunities for local youth through industry- oriented training and placement support.

In addition to its ongoing flagship programmes, NMDC approved and initiated several new CSR interventions during FY 2025-26, including:

• Infrastructure development projects in Ballari District with an approved outlay of '2.05 crore;

• Financial assistance of '21.46 crore for skill development centres across Bastar Division;

• Flood relief and rehabilitation measures in Dantewada with an approved outlay of '30.00 lakh;

• Development and rejuvenation works at Tolankere Lake and infrastructure augmentation of the Hubballi Sports Complex.

These initiatives reaffirm NMDC's commitment to addressing emerging community needs and supporting holistic regional development through targeted and sustainable interventions.

The Company's obligation for spending under CSR for the financial year 2025-26 in accordance with the provisions of Section 135 of the Companies Act, 2013, was '166.30 crore,

i.e. two per cent of the average net profits of the preceding three financial years.

During the year, the Board approved CSR projects and programmes with an aggregate value exceeding the aforesaid CSR obligation. A substantial proportion of these projects have been categorized as ongoing projects in accordance with the Companies (Corporate Social Responsibility Policy) Rules, 2014. These projects involve multi-year implementation schedules and are designed to deliver long-term and sustainable developmental outcomes.

Accordingly, the corresponding expenditure will be incurred progressively over the approved implementation period, extending up to the next three financial years. The unspent CSR amount pertains to such ongoing projects and shall be

utilized in accordance with the approved project timelines and applicable statutory provisions.

Through its sustained CSR efforts, NMDC remains committed to creating enduring social value, empowering communities and contributing meaningfully to the nation's socio-economic development agenda while upholding the highest standards of corporate citizenship.

A. The Vigilance department has undertaken several initiatives during the fiscal year 2025-26, with a particular focus on enhancing "Preventive Vigilance." This includes conducting Preventive Checks in key areas, addressing complaints with appropriate corrective measures and implementing system improvements. Additionally, regular training sessions on vigilance matters were organized for employees by the Vigilance functionaries at the Corporate Office as well as across various project locations. Major activities of the department during the period has been summarised as under:

i) Training & Sensitization: Various sensitizing

programs were conducted for awareness on

vigilance matters for the employees of the

Corporation like:

• Interactive Session on Ethical Vigilance, Investigation and CTE Examination at HO, Hyderabad by Shri Himanshu Vishnoi, Corporate Coach at DIOM, Donimalai.

• Interactive Session on Ethical Vigilance, Investigation and CTE Examination at HO, Hyderabad by Shri Suresh Madhavan, CGM (ONGC), EX CVO MSTC.

• Training Sessions on Preventive Vigilance in Procurement, Statutory guidelines related to MSEs, MII, & Concurrent application by Shri. Amitabh Datta, IES (Retd.).

• Training Session on Charge sheet drafting and Disciplinary Proceedings by Shri Arun Gour, JS (Retd).

• Training Program on Vigilance aspect in noting and drafting by Shri Uday Shanker Chattopadhyay, Former Dy. Sec & Ex. Faculty ISTM, DoPT.

• Training Program on Procurement by Shri. Amal Das, Former CMD/ Director(F)/ Director (Pers)/ NCL, Former President, ICMAI.

• Training Program on Investigation & Reporting, Framing of Charge Sheet and Inquiries by Shri Rajiv Verma, Ex-Director CVC, Advisor to CVC.

• Capacity Building Program on Labour compliance and promoting Gender Sensitization for Project Officials at Bacheli by Smt. Dr. Praveen Kumari Singh, Advisor, Ministry of Labour, GoI at HO, NMDC and BIOM Bacheli.

• Training Sessions on POSH Act & gender sensitization by Dr. Praveen Kumari Singh, Advisor, Ministry of Labour, GoI at HO, NMDC and NSL.

• Various training sessions for Project Officials on Vigilance awareness and its importance in the Organization by Vigilance Officers posted at projects of NMDC.

ii) Quality Compliance: The Vigilance Department obtained ISO 9001:2015 certification for its Quality Management System (QMS), ensuring routine surveillance audits and quality certification until 26.03.2029.

iii) Preventive Checks: Throughout the fiscal year 2025-26, Vigilance department conducted a total of 358 Preventive Checks, comprising 124 surprise checks, 109 regular inspections, 100 file studies, 17 audit para inspections and 08 CTE type inspections across all projects and the Head Office.

iv) Complaint Handling: A total of 288 complaints were received through various sources during the period which were handled/ disposed of logically as per CVC guidelines/complaint handling procedure.

v) E-Platform: Efforts were made to ensure

transparency in transactions through the company's website, including details of contracts and bill payments. Vigilance also promoted E-Procurement platforms for tendering processes.

vi) Integrity Pact: NMDC has adopted the Integrity Pact since November 2007. As per the suggestions given by Vigilance Department, the threshold value has been decreased to Rs.1.0 Crore w.e.f. 07.09.2018.

vii) Rotation of Vigilance officials: To ensure transparency in vigilance works, necessary action has been taken for rotation/repatriation of

vigilance officers and for inducting of new officers in Vigilance department in compliance with CVC guidelines.

Identification of Sensitive Posts has been carried out by HR department. The rotational transfer of officers of other departments was also effected in compliance of CVC guidelines.

ix) Quarterly Review Meetings: The Quarterly Review- cum-Coordination meeting of the Vigilance department with CVO for the FY 2025-26 were held in May-2025, September-2025, December-2025 & April-2026 and the said meetings were attended by all the Vigilance Officers in physical & virtual mode. Project-wise progress of vigilance activities were reviewed. All VOs exchanged their views and gave valuable suggestions.

x) Structured Meetings: Quarterly Structured

Meetings of the Vigilance department, chaired with the CMD, NMDC, were held on 17.10.2025 and 16.03.2026 to discuss vigilance activities and address pending issues for compliance. Review of Vigilance work was also done by the Board on 14.11.2025.

xi) Preventive Vigilance Training: In pursuance of CVC directions/guidelines, training programs on Preventive Vigilance is being arranged at NMDC in compliance of CVC guidelines, covering Induction level and mid-career level executives of HO, ROs and all Projects.

xii) Vigilance Manual: To enhance transparency

and ensure the smooth functioning of Vigilance workings, NMDC Vigilance Manual is in place, which serves as a comprehensive guide for internal use in the organization, outlining key guidelines and procedures laid down by the Central Vigilance Commission.

Additionally, 5^th Edition of in-house bulletin Subodh have been released on 26.01.2026, which included Vigilance-related articles, CVC circulars and guidelines for procurement awareness.

xiii) Online Vigilance Portal: NMDC Ltd. has been working on the online vigilance portal, which facilitates almost all major day to day activities of the department.

A total of 85 systemic improvement were suggested for compliance and implementation during FY 2025-26, out of which Action Taken Report for 27 cases have been received. Out of 85, 9 system improvements are unique or major initiatives. Among them, 3 have been implemented, while the remaining are currently in progress.

A comprehensive vigilance campaign was conducted from 18.08.2025 to 17.11.2025, culminating in Vigilance Awareness Week observed from 27.10.2025 to 02.11.2025. The initiatives are aimed to reinforce and invoke the theme of the Vigilance Awareness Week-2025

"Udidl: WT - Vigilance: Our Shared

Responsibility" within the organization including its stakeholders. This initiative included a mix of preventive vigilance and outreach activities to promote transparency, ethical behaviour and awareness among employees, stakeholders and the broader community. All projects, including the head office & Regional Offices have actively participated in this 3-month campaign & Vigilance Awareness Week, demonstrating a shared commitment to ethical practices and anti-corruption measures. The following sections outline the key activities under preventive vigilance and outreach efforts conducted during the campaign.

i. Complaint Resolution: All complaints were

addressed as per CVC directives.

ii. Pledge Ceremony: Employees and more than 550 students from 6 schools & colleges took integrity pledges.

iii. Seminars and Workshops: 30 training programs were conducted on topics emphasized by CVC viz CDA Rules, Framing of Charge-sheets, Investigation & Reports, CTE type examination, Public Procurement, Ethical Leadership, Cyber Security, Recent Trends in Public Procurement, Vigilance Perspective etc. benefiting 897 officers, Junior executives & Workmen.

iv. iGoT Karmayogi Training: The courses available on iGOT Karmayogi portal-covering themes such as Ethics, Conduct Rules, Integrity, Attitudinal

Change, Cyber Hygiene and Public Procurement— were identified and employees across all projects and the Head Office were encouraged to complete these courses. A total of 2617 learning sessions were completed in iGOT Karmayogi portal by the executives of different levels in NMDC.

v. Focused Activities at Schools & Colleges: The

week included special programs such as interactive Sessions, competitions in essay writing, poster making, Elocution, Painting, Storytelling, Slogan writing & Skit etc. on topics of ethical importance in schools and colleges across Projects and Head Office. A total of 5964 students & faculty members participated in the events conducted.

vi. Quizzes were conducted at various Projects & Head Office on vigilance matters during the week.

i. Gram Sabhas: NMDC organized four meetings with about more than 240 villagers at Bacheli Complex, Kirandul Complex and Panna to discuss vigilance & transparency.

ii. Street Plays: The artists performed two skits involving 75 students to spread anti-corruption messages.

iii. Rallies/Walkathons: Walkathons were organised on 31.10.2025 in honour of Sardar Patel's birth anniversary, with community and employee participation.

Vigilance department conducted Painting, Essay writing, Poster making, Quizzes, Slogan writing and Elocution contests for employees, stakeholder of NMDC & students from schools/ colleges.

A total of 2464 nos. of posters were made by students of various colleges and stakeholders of NMDC including the employees and their family members.

Overall, more than 5900 students participated in ethics-based activities like essay writing, postermaking and elocution.

v. Media Outreach: NMDC sent 1600 SMS to employees for encouraging them to take e-pledge and published Vigilance Awareness activities in 19 newspapers.

vi. Banners and Posters: NMDC displayed 86 banners, 08 standees, 200 pamphlets and 200 e-messages promoting vigilance themes during the period of campaign.

vii. Valedictory Ceremony: The concluding ceremony featured speeches, distribution of prizes to competition winners and participation certificates to students.

NMDC has envisaged to reach 100 MTPA capacity by 2030. This expansion plan included brownfield expansion of existing mines and developing greenfield mines in partnership with Chhattisgarh Mineral Development Corporation. A joint venture of NMDC & CMDC (NCL) has inaugurated & started operations at Deposit-4 Iron Ore Mine in March 2026 and will soon be starting operations at Deposit-13 Iron Ore Mine in the Bailadila Region. By the end of FY 2026, NMDC achieved an EC Capacity of 64.8 MTPA, apart from 17 MTPA EC of NCL (Deposit 13 & Deposit-4).

India is presently the world's second-largest producer of crude steel. In FY'26, the production of crude steel stood at 168 MT with a growth of 10.7% over the previous year. The growth in the Indian steel sector has been driven by the domestic availability of raw materials such as iron ore and cost-effective labour. Consequently, the steel sector has been a major contributor to India's manufacturing output.

The Production Linked Incentive (PLI) scheme 1.1 launched in January 2025 by Ministry of Steel, Government of India for specialty steel is a Rs.6,322-crore initiative under Atmanirbhar Bharat designed to promote the domestic manufacturing of value-added, high-grade steel, leading to increase in demand of Iron Ore.

The Production-Linked Incentive (PLI) Scheme for Specialty Steel in India expands on the original 2021 framework (PLI 1.0) through subsequent phases like PLI 1.1 and PLI 1.2. It aims to boost domestic value-added steel manufacturing, reduce import dependence and offer financial incentives ranging from 4% to 15%. Under PLI 1.0, the committed outcomes include '27,106 crore of investment, 14,760 direct jobs and 7.9 million tonnes of production capacity. PLI 1.1, launched on 06.01.2025, is expected to attract investment of about '17,000 crore, generate around 16,000 jobs and add 6.4 million tonnes of production capacity. PLI 1.2 was launched on 04.11.2025, covering 22 product sub-categories under four product categories, namely: (i) Steel Grades for Strategic Sector, (ii) Commercial Grades - Category 1, (iii) Commercial

Grades - Category 2 and (iv) Coated & Wire Products. The scheme offers incentive rates ranging from 4% to 15% for a period of five years, commencing from FY 2025-26, with incentive disbursement starting from FY 2026-27.

As per National Steel Policy, the country has envisaged increasing its steel production capacity to 300 MTPA by FY'31. The wide range of continuing infrastructure projects could support growth in steel demand to reach our envisaged target of per capita steel consumption of 160 Kg by FY'31 in the long term. To support this growth, NMDC is actively pursuing an Iron Ore Production ramp-up plan to further increase its iron ore production capacity to 100 MTPA by FY'30.

In line with the Vision Plan 2030 for achieving 100 MTPA production capacity, NMDC has undertaken several production augmentation and evacuation infrastructure projects. In addition, development of new deposits and OCSL plant facilities has also been envisaged to support the targeted capacity expansion.

During the financial year 2025-26, substantial progress has been done in major projects - by NMDC - like SP-III Kirandul Complex, SP-II Donimalai, Slurry Pipeline, new crushing plant and downhill conveyor system at Dep-14 & 11C.

To augment the evacuation capacity from the Bailadila sector, many projects & schemes are being taken up like doubling of KK line, Rowghat Jagdalpur line, Slurry Pipeline, etc. Doubling of KK line is being executed by Railways as deposit work is in full swing and few completed sections have been opened for traffic. Out of 150 km of planned doubling of railway line, 128 km has already been completed & the project is likely to be completed by October 2026. The completion of this project will augment the evacuation capacity of the Bailadila sector through the Railway line - to 60 MTPA.

Activities for Phase-1 of Slurry Pipe Line including 2 MTPA capacity Ore Processing Plant (OPP) at Bacheli, 15 MTPA capacity Slurry Pipeline System (130 km) from Bacheli to Nagarnar and 2 MTPA capacity Pellet Plant at Nagarnar, are in advance stage progress. The first phase of project is likely to be completed in 2026.

Ministry of Coal has allocated two Coal Blocks namely Tokisud North Coal block & Rohne Coal Block on 17.03.2020 for commercial sale & captive purposes. NMDC has appointed MDO for Tokisud North Coal Block where operations have started from January 2026. Operations at Rohne is expected to start soon.

Besides the expansion plan, NMDC has enhanced its focus on digitalization and Sustainability aspects.

NMDC continued its digital journey in 2025-26 with a strong focus on usage of Artificial Intelligence (AI), Machine Learning (ML), Industrial Automation, IoT, Advanced Analytics, Cloud Technologies and Cyber Resilience.

Aligned with the Vision 2030 goal of achieving 100 MTPA iron-ore production, NMDC is leveraging next-generation Digital Technologies to boost Efficiency, Productivity, Safety, Sustainability and Operational Intelligence across all mines and business functions. Further, Dashboard enhancements have improved data visibility and operational efficiency across key functions, thereby enhancing overall operational performance.

NMDC has established Digitalization framework governance model for implementation of Digital Initiatives. This includes constituting Corporate and Unit level digitalization teams for identification of operational challenges/Problem Statements and addressing these challenges with appropriate Digital intervention. Further, NMDC is in the process of formulation of a policy for digitalization to empower the Digitalization Teams for quick and effective implementation of digital initiatives across the enterprise. The policy also covers the framework for engagement of Startups/Solution Providers.

The Digitally Enabled Drilling & Blasting Design Optimization Solution is an integrated technology platform that optimizes drilling and blasting operations through digital tools, AI & vision enabled monitoring and data-driven analytics. Using drones, DGPS, advanced sensors and intelligent blast design software, the system enables accurate terrain mapping, optimized drill and charging patterns, real-time tracking of drilling and blast performance and post-blast analysis of fragmentation, vibration, throw and environmental parameters to support continuous operational improvement and optimum resource utilization.

The above solution has been implemented at Bacheli, Kirandul, Donimalai and Panna Mines.

The Real-Time Stockpile Management (RTSM) solution is a digital platform that enables real-time monitoring, tracking and management of ore stockpiles using IoT-enabled sensors and AI-driven analytics. The system replaces traditional manual survey methods by generating dynamic 3D stockpile models, instantly calculating material volumes and with insights, trends, alerts and Dashboard in real-time to support timely & well informed decision-making.

The above solution has been implemented as a Proof of Concept (POC) at Bacheli Loading Plant and another POC is under implementation at Donimalai Loading Plant.

Electronic File System has been Implemented enabling paperless office operations leading to improved traceability, reduced cycle time and enhanced productivity.

UMLMSS is a technology-driven platform designed for vehicle movement in mining operations through automated monitoring, digital validation and realtime analytics. The system integrates ANPR and RFID- enabled gate controls, automated weighbridges, GPS tracking, geofencing and AI-based CCTV surveillance of Iron Ore handling including Production & Dispatch. It provides centralized Dashboards and Analytics enabling continuous monitoring, anomaly detection and improved Operational Performance, Safety, Security and Transparency.

The Digital Twin solution is a high-resolution digital representation of the mining environment designed to enhance operational efficiency, monitoring and data-driven decision-making. Leveraging drone-based surveys, geospatial technologies, cloud computing and advanced analytics, the system enables visualization and analysis of mine operations, including production monitoring, volumetric assessments, haul road and slope safety analytics, drainage analysis and environmental monitoring.

The Enterprise Sustainability Management (ESM) Platform is a centralized digital solution designed to strengthen ESG governance, compliance and sustainability management across NMDC's operations. The platform enables unified management of environmental, social and governance data across all business units while supporting compliance with national and international frameworks such as SEBI, BRSR, GRI, TCFD and CDP.

Online platform for efficient management of Quarter inventory and enabling employees to apply, change or upgrade Quarters transparently as per Company Quarter Allotment Policy.

The Integrated Control and Command Centre (ICCC) is a Centralized Digital Platform designed to provide a unified view of operations across NMDC. It will integrate data from multiple enterprise applications, operational systems, IoT devices, sensors and surveillance infrastructure into a single command and monitoring environment.

The ICCC enables real-time monitoring, situational awareness and data-driven decision-making through interactive dashboards, advanced analytics and automated alerts. Leveraging Artificial Intelligence (AI) and Machine Learning (ML). The platform enhances operational efficiency, improves response times, strengthens safety and security monitoring and provides actionable insights for strategic and operational decision-making.

The Tethered Aerostat based Surveillance System is designed to provide persistent, wide-area monitoring of operations, boundaries and critical infrastructure. It uses a helium-filled aerostat equipped with electrooptical and infrared sensors to enable continuous day and night surveillance from an elevated position, overcoming the limitations of ground-based systems. The aerostat is connected to a ground control station that ensures uninterrupted power and data transmission, supporting continuous monitoring, recording and AI-based analytics for vehicle tracking, intrusion

detection, safety surveillance and operational oversight, thereby enhancing security, situational awareness and operational efficiency.

• Technology Excellence Award 2025- Best Digital Transformation Initiative (Mining & Steel) by FTCCI.

• Best Digital Transformation Initiative (Mining & Steel) at the 7^th Edition Technology Excellence Awards 2025, recognizing NMDC's leadership in AI, automation and digital innovation.

The implementation of the following advanced digital technologies to set a legacy in mining sector and increase efficiency, productivity and safety has been commissioned:

1. Digitally Enabled Drilling and Blasting Design and Optimization Solution

2. Real Time Stockpile Management (RTSM)

1. The Company underwent Technology refresh for Network Infrastructure to support existing, ongoing and future Digital Initiatives. This includes the following:

• Core Switches, Distribution switches, Access switches and Firewalls at all the locations.

• OFC backbone under primary path as well as redundant OFC under a Secondary path.

• UTP cable laying at all Plants and Buildings.

• Wi-Fi Network has been implemented at Plant, Buildings and Mines with Centralized Wireless Access Controller, NAC etc.

• Implementation of a NOC at HO.

2. Hospital Management System (HMS) has been implemented at all the Project Hospitals of NMDC. During the year, the following new initiatives have been carried out in HMS:

• Picture Archiving and Communication System (PACS) implemented and integrated with HMS enabling Tele reporting of X- Rays and CT-Scan

• Online prescription module has also been implemented at all project hospitals and reports are also being shared over mobile.

3. A cloud based Legal Tracker Software has been implemented for the Law Section. This includes the following:

• Cloud based SAS solution

• Case Details Management includes automatic updation of the cases

• Case Law Repository

• Notice Tracking and Management includes end to end tracking of incoming notices

• Calend ar Ma nagement

• Reporting and Analytics

NMDC continued to strengthen innovation, technological advancement and sustainable mining practices through focused investments and modernization during FY 2025-26. Innovation initiatives undertaken during the year include:

a) Automatic Sampling and Analysis System (ASAS): NMDC initiated implementation of an automated sampling and analysis system at its mines incurred about '77 crore. The system enables accurate, consistent and real-time assessment of iron ore quality through automated sample collection, preparation and laboratory analysis, thereby improving transparency, operational efficiency and decision-making.

b) Modular Crushing and Conveying System: A Modular Crushing Unit and Conveying System connecting the Dynamic Stockpile to Conveyor BC-108 at Donimalai Complex was commissioned at an expenditure about '6 crore. The project is expected to reduce ore transportation through dumpers, resulting in improved efficiency and lower operating costs.

c) Rapid Wagon Loading System (RWLS): To enhance dispatch efficiency and reduce wagon loading time, a Rapid Wagon Loading System was installed at Screening Plant-III, Kirandul, with an expenditure about '4 crore.

d) Pellet Feed and Slimes Utilization Initiative: As part of its circular economy and resource conservation efforts, NMDC is progressing towards utilization of iron ore slimes for pellet production. During FY 202526, approximately '23 crore was invested in slurry

transportation infrastructure, including carbon steel pipelines for recycling process water.

e) As part of its long-term strategy for value addition and utilization of low-grade ores and slimes, NMDC is developing a Pellet Plant along with an Ore Processing Plant. During FY 2025-26, incurred about '56 crore was invested towards procurement of advanced pressure filters and API-grade carbon steel pipelines, strengthening the Company's capability for sustainable resource utilization, enhanced value addition and improved recovery of iron-bearing resources that would otherwise remain underutilized.

f) Digital Mine Optimization: Real-time stockpile

management and digitally enabled drilling and blasting design optimization solutions were implemented with an expenditure of approximately '8 crore, enhancing operational planning, resource utilization and productivity.

g) Environmental Sustainability Projects: Environmental protection and ecological improvement initiatives were undertaken at Kirandul Complex with an investment of approximately '5 crore, reaffirming the Company's commitment towards sustainable mining.

h) Energy Efficiency Improvement initiatives: Various projects aimed at reducing electricity consumption while enhancing safety and reliability of operations were implemented during the year incurred about '1.5 crore.

i) Sized Ore Plant at Bacheli: To meet growing customer demand and improve product availability, a Sized Ore Plant was commissioned at Bacheli, incurred about '12 crore.

j) Moisture Reduction Technology: Water-absorbing

polymer technology was deployed to reduce ore moisture and minimize operational disruptions due to material jamming. An expenditure of about '13 crore was incurred under this initiative.

i. The Company has been legally advised that the judgment of the Hon'ble Supreme Court in Writ Petition (Civil) No. 114/2014 dated 02.08.2017 has no direct impact on NMDC. However, should it be applied to NMDC at a later stage, it could affect the Company's profitability.

Meanwhile, the Bailadila Projects of NMDC received Show Cause Notices dated 31.07.2018 from the District Collector, Dantewada, questioning why NMDC should not be directed to pay compensation of Rs.7241.34 crores, as per the Supreme Court judgment. NMDC was asked to respond by 31.08.2018.

As per the legal opinion obtained, the judgment is not applicable to NMDC and thus, no compensation is payable. NMDC responded to the Show Cause Notices and contested the demand before the Collector, Dantewada and other appropriate authorities. The Company has also filed objections with the District Collector, South Bastar, Dantewada.

ii. On 26.09.2019, the State Government issued revised Show Cause Notices reassessing penalties at Rs.1623.44 crores. NMDC once again did not accept the revised penalties.

iii. The Collector, Dantewada, issued final demand notices on 15.11.2019 for Rs.1390.03 crores towards excess production and Rs.233.41 crores for violation of Environmental Clearance (EC) capacity, totaling '1623.44 crores.

a) NMDC deposited '600 crores on 10.12.2019 under protest with the Chhattisgarh State Government.

b) NMDC filed two Writ Petitions (Civil) WPC/612/2020 and WPC/616/2020 before the Hon'ble High Court of Bilaspur on 22.01.2020, challenging the final demand notices dated 15.11.2019 on the ground of alleged excess extraction of iron ore beyond the environmental clearance capacity during 20002017. The following reliefs were sought:

i. To issue a writ of certiorari or any other appropriate writ, declaring the demand notice dated 15.11.2019 as illegal, without jurisdiction and in violation of Article 19(1)(g) and Article 246 of the Constitution of India.

ii. To set aside the impugned demand notice dated 15.11.2019 for penalty and compensation relating to excess production over EC limits. To grant any other relief deemed fit by the Hon'ble High Court, in light of the facts and circumstances of the petition.

c) The matter was listed for hearing on 19.02.2020. After hearing both parties, the Hon'ble High Court passed the following order.

As prayed, both cases were directed to be listed for hearing on the next date. Considering the fact that NMDC has already deposited Rs.600 crores, the Hon'ble Court ordered that no coercive action shall be taken against the petitioner until the next date of hearing.

The respondents were also directed to submit data regarding the petitioner's production exceeding the Environmental Clearance (EC) limits by the next hearing.

The matter was last listed on 24.09.2025 and the interim stay was extended thereafter. However, the case has not been listed since then.

iv. A revision application (No. 12/ (01)/2020/RC-II) was also filed on 24.01.2020 before the Hon'ble Mines Tribunal, Ministry of Mines, Government of India, New Delhi, challenging the validity of the demand notices dated 15.11.2019. The following reliefs were sought:

To set aside the penalties related to alleged excess production, arguing that the demand is without jurisdiction, illegal, arbitrary, violative of natural justice and ultra vires the MMDR Act, 1957. To pass any other appropriate orders in the interest of justice and the public good. Last hearing was held on 13.11.2025 and adjourned.

Pursuant to Section 134(5) of the Act, the Board of Directors,

to the best of its knowledge and ability, confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures;

ii) they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

iii) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv) they have prepared the annual accounts on a going concern basis;

v) they have laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and operating effectively;

vi) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, the work performed by the internal, statutory and secretarial auditors and external consultants, including the audit of internal financial controls over financial reporting by the statutory auditors and the reviews performed by management and the relevant board committees, including the audit committee, the Board is of the opinion that the Company's internal financial controls were adequate and effective during FY 2025-26.

The Independent Directors have given a declaration on meeting the criteria of independence as stipulated in Section 149(6) of the Companies Act, 2013 and Regulation 25(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in the FY2025-26.

Being a Government company, all Directors on the Board of the Company are appointed by the Administrative Ministry,

i.e., Ministry of Steel, Government of India and their terms of appointment including remuneration are determined as per extant policies/guidelines of Government of India.

During the year under review, 12 (Twelve) meetings of the Board were held. For further details, reference may kindly be made to Corporate Governance Section of the Annual Report.

i. Shri Amitava Mukherjee, Chairman and Managing Director held Additional Charge of Director (Finance) from 06.12.2025 to 05.03.2026.

ii. Shri Vishwanath Suresh ceased to be Director (Commercial) w.e.f. 07.01.2026. Thereafter, Shri Vinay Kumar was entrusted with the Additional Charge of Director (Commercial) from 09.01.2026 to 14.07.2026.

iii. Shri Joydeep Dasgupta, Director (Production) held Additional Charge of Director (Personnel) from

01.02.2026 to 18.03.2026.

iv. Smt Priyadarshini Gaddam, Director (Personnel) held Additional Charge of Director (Finance) upto 05.12.2025. Further, she ceased to be a Director of the Company on

31.01.2026 on account of superannuation.

v. Shri Krishna Kumar Thakur was appointed as Director (Personnel) on the Board of NMDC Limited w.e.f. 19.03.2026.

vi. Shri Anurag Kapil was appointed as Director (Finance) on the Board of NMDC Limited w.e.f. 31.03.2026.

i. Shri Ashish Chatterjee, Additional Secretary & Financial Advisor, Ministry of Steel was appointed as Government Nominee Director w.e.f. 11.06.2025.

i. Shri Sanjay Tandon was appointed as Independent Director w.e.f. 15.04.2025 to 14.04.2026.

ii. Shri Bharat Baburao Patil and Shri Mahendra Singh Rao were appointed as Independent Directors w.e.f. 15.05.2025.

iii. Shri Achal Kumar Sinha was appointed as Independent Director w.e.f. 03.07.2025.

i. Appointment of Shri K. Venkateswarlu as Chief Financial Officer w.e.f. 27.05.2025.

ii. Appointment of Smt. G. Anupama as Chief Financial Officer w.e.f. 01.07.2025 in place of Shri K. Venkateswarlu on account of his superannuation w.e.f. 30.06.2025.

iii. Appointment of Shri Anurag Kapil, Director (Finance) as Chief Financial Officer with effect from 31.03.2026 in place of Smt. G. Anupama.

As per communication received from Comptroller and Auditor General of India, New Delhi, your Company appointed the following firms of Chartered Accountants as Statutory Auditors of the Company for the year 2025-26:

Cost Accountants

JNG House, 1221/07, Sabalpur (L) Road,

K.G. Ashram, Dhanbad, Jharkhand - 826008

Company Secretaries B-13, F-1, P.S. Nagar,

Vijaynagar Colony,

Hyderabad - 500 057.

The Audit Report for both Standalone and Consolidated Financial Statements for the year 2025-26 is unmodified and does not contain any qualification, reservation or adverse remark.

The Comptroller and Auditor General of India (C&AG), vide its letter dated 14.08.2026, have provided their comments on the Standalone and Consolidated financial statements of the Company for the financial year ended 31.03.2026, in accordance with Section 143(6)(b) of the Companies Act, 2013. The Management's responses to the said comments are enclosed as Annexure IX(a) and IX(b) to this Report, respectively.

The Secretarial Audit for the financial year 2025-26 was done by M/s D. Hanumanta Raju & Co., Practising Company Secretaries. The Secretarial Audit Report is enclosed to this report. There are certain observations in the report, management's reply to which is as follows:-

The number of RTI queries received and disposed during the year is as under: (from 01.04.2025 to 31.03.2026)

NMDC has published on its website www.nmdc.co.in The Annual Reports of the Company, which give information under Section 4(1)(b) of the RTI Act 2005. Further, the details of Public Information Officer and Appellate Authority are being updated regularly for the information of the public. On its working are widely circulated and also available on NMDC's website. Further, information is disseminated through press conference, press handouts etc. NMDC maintains all its records in a transparent manner. Information is given to the maximum extent in the form in which it is asked for and in the local language as well, when needed.

Nil

• NMDC has been honored with the prestigious 'Digital Champions Award' under the 'Digital Champions' category at the India PSE Summit on the theme 'Empowering India's Growth Engine using Technology' organized by Express Computer (Indian Express Group) on 25.04.2025, at Hyderabad.

• NMDC has been honored with the 'Performance Excellence Award 2025' during the 25^th CEOs Conference organized by the National Council of the Indian Institution of Industrial Engineering (IIIE), held at Shillong, Meghalaya on 09.05.2025.

• NMDC received the first prize, Rajbhasa Shield for implementation of Rajbhasha, along with the Best Magazine Award (First Prize) in the e-magazine category for Hindi e-magazine of headquarters 'Khanij Bharati' by the Town Official Language Implementation Committee (Undertakings), Hyderabad on 29.05.2025.

• NMDC's Projects received the following awards under the category of "Environmental Excellence in the Metal & Mining Sector" during the award ceremony organized by Green Enviro Foundation at Lonavala, Maharashtra on 19.06.2025.

• Donimalai Complex - Gold Award

• Kirandul Complex - Silver Award

• Bacheli Complex - Platinum Award

• Corporate Office, Hyderabad - Platinum Award

• NMDC has been honoured with the "FTCCI Excellence Award 2025" in two categories i.e. Excellence in Research & Development and Excellence in Digital Transformation during the award ceremony held on 08.07.2025 at Hyderabad, Telangana.

• Diamond Mining Project, Panna of NMDC Ltd. has been conferred with the following awards under the aegis of DGMS, Jabalpur, during the event held on 12.07.2025 at Jabalpur, Madhya Pradesh:

• First Prize in Safety Management Plan, Fire Safety and Dust Suppression & Health Awareness

• Second Prize in Injury Rate Performance

• Third Prize in Welfare Amenities.

• NMDC received the most coveted award in field of Rajbhasha implementation- Rajbhasha Kirti Award (First in "C" region govern category) on 14.09.2025 at Gandhinagar, Gujarat during Hindi Day Celebration by Ministry of Home Affairs, Department of Official Language, Govt of India.

• NMDC won 15 awards and 3 consolation prizes at the 15^th PRCI Excellence Awards 2025 during the 19^th Global Communication Conclave held in Goa on 29.09.2025. The honours included four prestigious Chanakya Awards for Leadership, Governance and Communication Excellence. NMDC also bagged the 'Champion of Champions Award (Runners-up),' marking a historic milestone in corporate communication and leadership recognition.

• NMDC Projects DIOM and KIOM have been conferred the Platinum Award in the Iron Ore Metal & Mining Sector at the 10^th Apex India Occupational Health & Safety Award 2025, held on 20.11.2025 at Udaipur, Rajasthan. Further, the DIOM and KIOM Projects have also secured the prestigious Gold Category Award at the Kalinga Safety Excellence Awards held on 22.11.2025 at New Delhi.

• NMDC Ltd. has been honored with the 'Great Place to Work' certification on 09.12.2025, based on a survey conducted by Great Employers Private Ltd.

• NMDC was honored with seven prestigious awards at the 47^th All India Public Relations Conference 2025, organized by PRSI on 15.12.2025 at Dehradun under the theme "Empowering Growth, Preserving Roots". The awards recognize excellence in domains including Best Skill Development Programmes by a PSU, Annual Report, House Journal (Hindi), Best R&D Efforts, Best CSR Projects for Women Development, Best PSU Implementing CSR Projects and Outstanding Initiatives for Promoting Medical & Health.

• At the 23^rd Greentech Workplace Fire, Safety & Security Awards 2025 on 16.12.2025 at Jaipur:

o NMDC's Bacheli Project was conferred the award for Outstanding Achievement in Construction Safety.

o NMDC Donimalai Project was honored with the GOLD Award for Safety Excellence.

• NMDC Donimalai Project was conferred the "Honourz CSR Excellence Award 2025" for its impactful CSR initiatives and commitment to creating sustainable social value organised by Honourz Club on 23.12.2025 at New Delhi.

• Governance Now PSU Awards (12^th Edition): NMDC has been recognised across key leadership and operational categories, receiving the PSU Leadership Award, Finance Leadership Award and Innovation in Operational Excellence, reaffirming the organisation's commitment to excellence in governance, financial stewardship and operational innovation on 11.03.2026.

• NMDC's Donimalai Complex has won several prizes at the 57^th Mines Safety Week Observance (2025-26), conducted under the aegis of the Directorate General of Mines Safety (DGMS), Bellary Region, held at Kalaburagi on 22.02.2026.

o Donimalai Complex:

• First Prize: Overall Performance (GVTC) and State Level First Aid Team

• Second Prize: Overall Performance

(Occupational Health Centre)

o Donimalai Iron Ore Mines (DIOM):

• First Prize: Training, Health & Welfare;

Innovation & Digitization

• Second Prize: Overall Performance; General

Working; Lead Indicators, Emergency

Preparedness, Mock Drill & Accident Statistics

o Kumarswamy Iron Ore Mines (KIOM):

• First Prize: Lead Indicators, Emergency

Preparedness, Mock Drill & Accident Statistics

• Second Prize: Training, Health & Welfare;

Innovation & Digitization.

NMDC being a PSU, the guidelines of Central Vigilance Commission (CVC) are applicable which provides adequate safeguard against victimization of the employees. The Board of Directors at its 451^st meeting held on 20.09.2012 approved the internal Whistle Blower Policy of NMDC. NMDC has effectively implemented its internal Whistle Blower Policy under CVO NMDC, the designated Nodal Officer for the purpose, which has been uploaded on the website of the company under the link: https://www.nmdc.co.in/cms- admin/Upload/Policies-Document/405f4d8884cb49bdbf42fc 548d4edda2 20210920061059002.pdf.

Except for instances of unauthorised removal and transportation of 280 tonnes of iron ore, estimated at '0.11 crore, from the KIOM mining lease area that was noticed during the year, as stated in Note No. 2.51.11 to Standalone and Consolidated Financial Statements, no fraud by the Company or on the Company has been noticed or reported during the year.

NMDC Ltd., being a Government Company, the terms and conditions of appointment and remuneration of Functional Directors are determined by the Government of India through its Administrative Ministry, i.e., Ministry of Steel.

In terms of notification dated 05.06.2015 and 13.06.2017 issued by Ministry of Corporate Affairs, Govt. of India, Government Companies have been exempted from applicability of some of the provisions /sections of the Companies Act, 2013 inter alia Sub-sections (2), (3) & (4) of Section 178 regarding appointment, performance evaluation and remuneration.

The Board at its 586^th meeting held on 27.03.2026 has approved the revised Enterprise Risk Management (ERM) Policy of the Company and is placed on the website of the Company at the link: https://www.nmdc.co.in/cms-admin/ Upload/Policies-Document/657ae5c3528842bc841f1b14548f1 cb7 20260424164611522.pdf.

The constitution of the Risk Management Committee of the Company is as under:

1. Shri Mahendra Singh Rao, Independent Director, Chairperson

2. Director (Technical), Member

3. Director (Production), Member

4. Director (Personnel), Member

5. Director (Finance), Member

6. Director (Commercial), Member

During the year under review, four (4) meetings of the Risk Management Committee were held. For details, please refer to the Corporate Governance Report annexed to this report.

The Board of Directors has approved Dividend Distribution Policy which has been uploaded on the website of the company under the link: https://www.nmdc.co.in/cms-admin/Upload/Policies-Document/09ba701ff11a4bc5a20f1135 53be1074 20250913153747380.pdf.

A Report on Management discussions and Analysis as required in terms of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is at Annexure-I.

A report on Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo under the Companies (Accounts) Rules, 2014 is as Annexure-II.

Report on Corporate Governance is at Annexure-III.

As required under the provisions of the Companies Act, 2013, the Annual Return is hosted on the Company's website and can be accessed from the link: https://www.nmdc.co.in/ investors/financial-details/annual-return.

NMDC is publishing Business Responsibility and Sustainability Report (BRSR) and Report as per the Global Standards and is planning to achieve the global standards in a time bound manner. As the world is now traversing more uncertainty than ever, NMDC is focusing on building sustainable and resilient businesses to survive in the long run and to make a meaningful contribution against climate change through environment, social and governance (ESG) initiatives. Three mines of NMDC have been awarded 5 Star Rating by the Ministry of Mines.

In compliance with Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Business Responsibility & Sustainability Report (BRSR) along with Reasonable Assurance carried out by M/s Bureau Veritas (India) Pvt. Ltd. is at Annexure-IV.

Secretarial Audit Report in Form No.MR-3 pursuant to Section 204(1) of the Companies Act, 2013 and Regulation 24A SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is at Annexure-V.

Report on compliance with principles of Global Compact is at Annexure-VI.

Report in terms of the Companies (Corporate Social Responsibility Policy) Rules, 2021 is at Annexure-VIII. The Report on CSR inter alia, outlines details of CSR Policy and various CSR initiatives of the company for the year under review.

The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards (SS-1 and SS-2) and that such systems are adequate and operating effectively.

During the year, no application was made and no proceeding is pending under the Insolvency and Bankruptcy Code, 2016.

There was no requirement for getting valuation done and therefore, reporting for the same is not applicable.

Your Directors gratefully acknowledge the support, cooperation and guidance received from the Ministry of Steel, Ministry of Mines and Ministry of Environment, Forest & Climate Change and other Departments of Government of India and the State Governments of Andhra Pradesh, Chhattisgarh, Karnataka, Madhya Pradesh, Jharkhand and Telangana.

Your Directors also acknowledge the support extended by the valued and esteemed customers, shareholders, stakeholders, MMTC, Chennai Port Trust, Visakhapatnam Port Trust, Railways and other Departments of the Central and State Governments. We believe that our long-term success is dependent on our domestic customer relationship and responsiveness. We assure that we will do everything possible to provide our customers better, timely and value-added services.

The success of your Company is also attributable to the commitment and dedicated efforts of the management and employees at all levels. Your Directors also place on record their appreciation and also acknowledge the support and co-operation of All India NMDC Workers' Federation and their members for the smooth functioning of the Company's operations.