Ms. Meher Pudumjee is the Chairperson of
Thermax Ltd, a company focused on providing energy and environment solutions.

A postgraduate in Chemical Engineering from the Imperial College of Science & Technology, London, Meher joined
Thermax as a trainee engineer in August 1990. A year later, along with her husband Pheroz Pudumjee, they took over the
responsibility of turning around a Thermax subsidiary company in the UK.

After her return to India in September 1996, she was appointed on the Board of Directors. With her newly acquired
interest in Finance, she worked closely with the treasury and working capital management functions of Thermax. She was
involved with overseeing a Joint Venture Company in the area of drinking water as well as the Air Pollution Control
businesses of the company. In January 2001 she became a non-executive director and was appointed Vice Chairperson in 2002. During this period she played an active role in the turnaround of Thermax. She took over as Chairperson on October
5, 2004, after the retirement of Mrs. Anu Aga.

Ms.Pudumjee represented India at the Asian Business Women’s Conference in Osaka in 2006. The World Economic Forum in
2008 selected her as a Young Global Leader for her professional accomplishment, commitment to society and potential to
contribute to shaping the future of the world. She was selected CEO of the Year, 2009 by Business Standard.

Ms. Pudumjee served as the Chairperson of Pune Zonal Council of the Confederation of Indian Industry (CII). When a
member of CII’s Young Indians, she chaired the National Employability initiative.

Meher has a keen interest in music, especially western classical and is a member of a Pune based choir. She lives in
Pune with her husband and has two children.

Pheroz Pudumjee has been the Non-Executive Director of the company since January 15, 2001.

He facilitates the company’s international initiatives, including the incubation and development of new businesses and
relevant organisational changes. In the past, Mr. Pudumjee managed Thermax’s overseas venture in the UK.

Mr. Pudumjee was the Chairman of the Confederation of Indian Industries (CII), Pune. He was also a member of CII’S
National Committee on Export and a member of the Maratha Chamber of Commerce’s International panel.

He has a Master’s in Business Administration and a Diploma in Automobile Technology from Stanford University.

Ashish Bhandari is the
Managing Director & CEO of Thermax Group since 1st September 2020.

Before joining Thermax, Ashish was the Vice President–India and South Asia region at Baker Hughes (formerly a GE
company). He joined GE in 2005 in Houston, USA and relocated to Gurgaon in 2011. He is credited with building GE Oil and
Gas into one of GE’s biggest businesses in India and for the successful integration of Baker Hughes and GE Oil and Gas
during a time of significant transition. Over his 15-year GE career, Ashish has worked in a variety of industrial
businesses, including GE Enterprise Solutions, GE Energy, and GE Oil and Gas. He has been instrumental in consolidating
legacy businesses and at the same time, looking at new technologies and opportunities for growth.

His prior work experience includes a stint with Schlumberger, consulting with McKinsey & Co. and two start-ups
overseas.

Ashish completed his Bachelor of Technology in Electrical Engineering (B. Tech) from the Indian Institute of Technology,
Mumbai. He received his master’s degree in Business Administration from
DukeUniversity.

Harsh Mariwala is an independent director of the company since November 10, 2016.

He is the Chairman of Marico Limited, and is also Chairman & Managing Director of its wholly owned subsidiary, Kaya
Limited. Mr. Mariwala has transformed Marico, a traditional commodities driven business into a leading consumer products
and services company in the beauty and wellness space. From a turnover of Rs. 50 lakhs in 1971, Marico’s products
generated a turnover of INR 6,132 crores during 2015-16. The company has won several awards and recognition under his
leadership. He established the Marico Innovation Foundation in 2003 to fuel innovation in India. He started ASCENT in
2012, a not-for-profit and unique peer-to- peer platform for high potential entrepreneurs to exchange experiences and
ideas.

Mr. Mariwala was the President of Federation of Indian Chambers of Commerce and Industry (FICCI) in 2011. He has been a
part of the Young Presidents Organization (YPO), held the position of YPO Education, Membership and Chapter Chair for
the Bombay Chapter, and was a member of the International Forum Board of YPO International. He is now a part of the
World Presidents Organization (WPO).

Ravi Pandit is an independent director of the company.

He is the co-founder, chairman and group CEO of KPIT Technologies Ltd. His vision has steered the company from product

engineering, IT consulting and services, to three industries namely automotive & transportation, manufacturing and
energy & utilities.

He is a gold medalist and member of the Institute of Chartered Accountants of India, an associate member of the
Institute of Cost and Works Accountants of India, and holds a master from Sloan School of Management, MIT, Cambridge,
USA. In 2014, Tilak Maharashtra University decorated him with an honorary D.Litt.

Having run a Chartered Accountancy firm for close to a decade after finishing his master’s studies, Mr. Pandit decided
to venture into information technology consulting and services, thus setting up KPIT with his co-founder in 1990.

For his commitment to conducting business in an ethical manner and for the value KPIT partnership has brought to
Cummins, Mr. Pandit was honoured with the J Irwin Miller Award of Excellence by Cummins. He has also been conferred the
Rotary Excellence Award, Maharashtra Corporate Excellence (MAXELL) Award and the Samata Award.

Ravi is a founder trustee of NGO Janwani which focuses on improvements in urban India. He is a founder trustee of the
Pune International Centre, a national level think tank working on policy issues. Mr. Pandit was a member of the
Government of India’s Automotive Research Program Committee and on DST’s Technology Development Board. He has served as
the president of the Mahratta Chamber of Commerce, Industries and Agriculture and has been on the NASSCOM executive
council twice.

Ms. Rajani Kesari has been an
Independent Director of the company since November 14, 2018.

She is currently the CFO of
Nayara Energy Limited. Nayara is a downstream oil company operating the second largest single-site refinery in India
and contributes to 8% of the refinery capacity of India. Prior to this, she was the CFO for Holcim India, handling
finance for listed entities of Ambuja Cements and ACC Limited.

Rajani has diverse experience
in strategic planning, business partnering, M & A, internal audit, taxation and investor relations. She has also
played a very meaningful role in driving business impact both in India and overseas.

She is a commerce graduate,
Chartered Accountant, Cost Accountant and Certified Public Accountant from the US.

Dr. Ravi Gopinath is an Independent Director of the
company.

He is also the Chief Strategy Officer at AVEVA plc, a FTSE listed software company. He joined AVEVA in 2018 through the
merger of Schneider Electric Software with AVEVA. Prior to the merger, he was the Executive Vice President of Schneider
Electric Software. He joined Schneider Electric in 2014 following the acquisition of Invensys plc by Schneider Electric,
where he was President of Invensys Software.

He started his career as a research scientist in Tata Consultancy Services in 1994 and eventually led the global
Engineering Business and the Manufacturing Practice for the company. He left TCS in 2006 and joined Geometric Ltd. as
the MD and CEO. He held that role from 2006 to 2009, when he joined Invensys.

Dr. Gopinath holds a Ph.D. in Chemical Engineering from Rensselaer Polytechnic Institute, New York and a M. Tech in
Chemical Engineering from the Indian Institute of Technology
Bombay.

Shyamak Tata is the Additional Non-Executive Independent Director of the company.

He has over 35 years of experience serving large Indian and multinational companies. Currently, he serves as an
Independent Director for Siemens Limited and its subsidiary, C&S Electric Limited, and for HDFC AMC International
(IFSC) Limited.

He was the Chairman of Deloitte India from 2019-2021. As Chairman, his role included heading governance for the
organisation and leading the Board. Apart from this, the broader Board directive entailed overseeing sustainability
initiatives, emerging technologies and opportunities, talent and culture.

Shyamak has been an elected Board member for over 12 years, and, in this role earlier, was also a member of the Chairman
and CEO Evaluations Committee of the Board. During the period, Shyamak also served on the Deloitte Asia Pacific Board
and was also a member of its Succession & Nominating Committee and the Board Transformation Committees.

In his executive roles at Deloitte India, Shyamak had led the Audit & Assurance (A&A) practice at the critical
time of India’s first ever mandatory auditor rotation transition. As the A&A leader, he was a key member of Deloitte
India’s Executive team, and was also part of Deloitte’s Global Audit and Assurance Leadership Team.

Shyamak has extensive industry experience in consumer business, manufacturing, automotive, metals and mining, and
telecom, with a focus on audit and assurance engagements, accounting advisory, due diligence reviews, business and share
valuations, international offerings, and Sarbanes readiness work.

A Commerce graduate from Mumbai University, Shyamak is a Fellow Member of the Institute of Chartered Accountants of
India, a Certified Information Systems Auditor, and a Company Secretary.

Parag Shah is the Additional Non-Executive Independent Director of the company.

He is the Founder and Partner of Amara Partners, an early-stage Private Equity fund that provides growth capital to businesses and supports entrepreneurs in business transformation, innovation, change management and institutionalisation.

Prior to this venture, in a career spanning over 25 years, Parag has held various positions with the Mahindra Group. He has extensive experience in building new businesses, start-ups, turnarounds, joint ventures, and mergers & acquisitions. In his last role, he was a Member of the Group Executive Board and Head of Mahindra Accelo. Parag was one of the chief architects and Managing Partner of Mahindra Partners, the 1 Bn USD Private Equity and Venture Capital division of the Group, which was responsible for incubation, turnaround and investments in several sectors like cleantech, retail, boat manufacturing, consulting, media, healthcare, conveyor systems, AI & analytics. He was an Executive Committee member of various councils of Mahindra Learning University. He was the Group Lead for business representation in Israel.

Parag is also the Director of several companies such as Mahindra Accelo, Mahindra Waste to Energy, Indian and Eastern Engineer Company, MME (Sharjah), PT MASI (Indonesia), Global Chess League (Geneva) and PSL Media & Communication. He is also an Independent Director on the board of HDFC AMC Ltd. and Lumax Auto Technologies.

He is active in industry bodies like CII, FICCI, American Alumni Association, and TiE Mumbai, and is a frequent speaker at industry and academic forums. He has been recognised by Economic Times & Spencer Stuart as India’s Top 40 Business Leaders under the age of 40. He was also featured by India Today as ‘Leaders of Tomorrow’ in their anniversary issue.

Parag has been an Executive Committee Member of the CII National Committee on Private Equity and Venture Capital, FICCI Solar Energy Task Force, CII National Committee on Renewable Energy, American Alumni Association, CII National Healthcare Council in addition to other external associations. He is also an angel investor and is on the advisory board of Trustees of The IndUS Entrepreneurs, Mumbai (TiE).

He is affiliated with various NGO associations such as Sabarkanta Relief Committee and S&G Charitable Trust. He has also been a Founder Director of “Executives Without Borders”, an NGO based in USA.

Parag holds a BS Degree in Computer Engineering from the Illinois Institute of Technology with special electives in Psychology and Manufacturing Technology. He is also a graduate of the General Management Program from the Harvard Business School.

Ashish Bhandari is the
Managing Director & CEO of Thermax Group since 1st September, 2020.

Before joining Thermax, Mr. Bhandari was the Vice President – India and South Asia region at Baker Hughes (formerly a GE
company). He joined GE in 2005 in Houston, USA and relocated to Gurgaon in 2011. He is credited with building GE Oil and
Gas into one of GE’s biggest businesses in India and for the successful integration of Baker Hughes and GE Oil and Gas
during a time of significant transition. Over his 15-year GE career, Mr. Bhandari has worked in a variety of industrial
businesses including GE Enterprise Solutions, GE Energy, and GE Oil and Gas. He has been instrumental in consolidating
legacy businesses and at the same time looking at new technologies and opportunities for growth.

His prior work experience includes Schlumberger, consulting with McKinsey & Co. and two start-ups overseas.

Mr. Bhandari completed his Bachelor of Technology in Electrical Engineering (B Tech) from the Indian Institute of
Technology, Mumbai. He received his master’s degree in Business Administration from Duke
University.

B.C. Mahesh became a member of the Executive Council in August 2013. He is
responsible for the Industrial Product Business (IPB), which consists of Process Heating, Absorption Cooling &
Heating Solutions, Water and Waste Solutions, Air Pollution Control, Steam Engineering, Channel Business Group,
International Business Group, and Enterprise Sales businesses. As part of IPB, he also oversees the following
wholly-owned subsidiaries of Thermax – Danstoker, PT Thermax International Indonesia and Rifox.

Mahesh joined Thermax as a graduate trainee in 1988 and handled the Materials function for various businesses, including
global sourcing, till 1996. He moved to the Power division (P&ES) and grew to the position of Sales Head and
subsequently Head of Projects. He took over as the Head of the SBU for Medium Power Plants in 2009 and finally as Head
of Power business in 2012. Mahesh has worked with Thermax for over 30 years in many functions such as manufacturing,
supply chain, sales and marketing, and project management, and has played a significant role in the strategy, expansion
and diversification of the Power business.

Mahesh completed his Mechanical Engineering from the Visvesvaraya Regional College of Engineering, Nagpur in 1988.

B C Rajesh is the Chief Executive Officer of TBWES and is also a member of the
Thermax Executive Council.

He has over 28 years of global professional experience spanning the projects, products and services industries across
functions. Prior to joining Thermax, he was working with Mahindra Teqo, Mumbai as the Chief Executive Officer. Besides
Thermax, his earlier stints have been with PT Kaltimex Energi where he managed business development and regional
operations for steam turbine generator packages, and Gherzi Eastern Limited, where he provided project management
advisory services, collaborating closely with multinational clients.

During his stint at Thermax, he was instrumental in handling large projects in P&ES. He also led the Operations and
Maintenance (O&M) business, overseeing substantial advancements. Later, he took over as the SBU Head of Services
business at TBWES. Under his leadership, the SBU built a substantial business of parts, Pure Services & Digital.

Rajesh has earned his Bachelor’s in Engineering & Master’s in Construction & Project Management from the
National Institute of Construction Management and Research (NICMAR). Additionally, he has also completed the Executive
programme in Applied Finance from the Indian Institute of Management – Calcutta (IIMC).

Pravin Karve became a member of the Executive Council in August 2010. Currently, he heads Thermax
Babcock and Wilcox Energy Solutions (TBWES) Limited as the President. He
has worked with Thermax for over 37 years and has held many roles in these years.

Pravin joined Thermax as a Graduate Trainee Engineer in 1984 and has worked in various functions like sales, proposals,
field sales, international marketing, sourcing, operations, etc. He was part of the core team leading the company’s
transformation initiatives. Before taking over the current role, he was the Chief Executive Officer of TBWES. Prior to
this, he was the Business Unit Head for Boiler & Heater (TBWES) division and has also headed the Air Pollution
Control (Enviro) business.

Pravin is a certified Executive Coach and works very closely with emerging leaders to help them exceed their potential
by working on their inner transformation. He is also an active volunteer with The Art of Living Foundation.

Pravin completed his Mechanical Engineering from Walchand College of Engineering, Sangli, in 1984.

Rajendran Arunachalam took over the responsibility as the
Thermax Group CFO on 1st June 2019. He joined Thermax as the Executive Vice President (EVP) – Finance and a member of
the Executive Council of Thermax Group in March 2019.

Starting his career with Thermax as a Management Trainee in 1993, he worked for 15 years till 2008 across departments
and businesses, including the role of Finance Controller for Chemical and Power businesses. He worked with Tata AutoComp
Systems from 2008 to 2013 and subsequently moved to Gabriel India Ltd., where he was the CFO heading Finance,
Secretarial, Legal & IT functions before rejoining Thermax.

A Certified Public Accountant (USA) & a Fellow Certified Management Accountant (FCMA), Chartered Global Management
Accountant (CGMA), Rajendran has completed his Masters in Management Studies (MMS), Integrated Program of Engineering
& Management from BITS Pilani and Advanced Management & Leadership Program from Oxford University in the
UK.

Dr. Amit Sethi is the Executive Vice President
and Chief Digital and Information Officer since October 2022. He is also a member of the Thermax Executive Council.

He has more than 23 years of digital and IT experience spanning digital strategy and execution, P&L leadership,
Industry 4.0, ERP and digital technologies.

Prior to joining Thermax, Amit was working with Baker Hughes as the Middle East, Africa, Turkey and India regions’ CIO
(spanning 40 countries). He has worked on the board of PIDX, an energy industry body that defines the electronic
business and energy transition standards for the oil and gas industry.

Amit is a PhD in Marketing from IIM Lucknow. He has completed his management education from the Indian Institute of
Management, Lucknow and his degree in Electrical Engineering from VJTI, Mumbai University.

In his free time, Amit runs an NGO focused on road safety, Covid support and greenery. He also likes to spend time in
heritage libraries as well as travel.

Dr. Santanu Chaudhuri is the Chief Technology Officer (CTO) and joined the Executive Council
of Thermax in October 2024.

Dr. Santanu has over 27 years of global experience, spanning leading academic institutions and national research
laboratories. Before joining Thermax, he served as a Professor of Materials and Chemical Engineering at the University
of Illinois Chicago. His previous roles include positions at Argonne National Laboratory, University of Illinois at
Urbana-Champaign, Washington State University, Brookhaven National Laboratory, and Alumnus Software Limited.

His professional portfolio spans from managing large-scale R&D initiatives to overseeing multi-million-dollar
portfolios in applied energy technologies. His success in building public-private partnerships, securing over $54.5
million in funding proposals from prestigious organisations, and other similar achievements are a testament to his
expertise. As a director at Argonne National Laboratories Manufacturing Science and Engineering, he led efforts for
faster deployment of energy systems in collaboration with the US Department of Energy and Industries. He has been
working on hydrogen and conversion technologies since 2003 and spearheaded the development of autonomous Al-enabled
laboratories and digitised the materials scale-up and roll-to-roll coating environments for energy systems.

Dr. Santanu has completed his Bachelor of Science with honours in Maths, Physics and Industrial Chemistry from Calcutta
University’s SAJ College. He also holds an Advanced Diploma in Software Engineering from APTECH and PACE University (NY)
and studied business management at the Post-graduate Institute of Management, Kolkata. Additionally, he is a PhD holder
in Materials and Computational Chemistry from the State University of New York at Stony Brook working on catalysts,
battery materials, and ionic conductors.

Arun Unni joined as the Unit Head and Head of Strategy for the New Energy Business in November 2024 and is also a member of Thermax’s Executive Council. He brings over 23 years of global consulting and industry experience, focussed on energy and sustainability.

Before joining Thermax, Arun was working at Kearney, Mumbai, as a Senior Partner, Energy and Process Industries and as Head, Sustainability for the APAC region. He has also held key positions as Chief Content Officer at TATA Sky, Management Consultant at KPMG Advisory, and Arthur Andersen. Arun’s involvement in the renewable energy industry started when it was at a very nascent stage in the country, and he has remained closely connected to the energy ecosystem throughout his career.

In his dual stint at Kearney, Arun has helped organisations in establishing and leading decarbonisation and sustainability practices for the oil & gas, steel, and cement sectors. Arun’s expertise extends across process electrification, biofuels, and carbon capture.

An active thought leader, Arun has been actively involved in providing policy inputs to the Energy Transition Advisory Committee, Ministry of Steel (MOS), Bureau of Energy Efficiency (BEE), India CEO Climate Alliance, and the World Economic Forum (WEF), focussing on India’s net zero and Scope 3 pathways. Additionally, he has significant experience in M&A, technology partnerships, and operational transformation in both renewable and conventional power businesses.

Arun holds a Bachelor of Technology in Civil Engineering from the Indian Institute of Technology, Mumbai, and a Post Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad.