Wakefit Innovations Limited's Board of Directors, in a meeting held on December 19, 2025, approved several key resolutions. These include the reclassification of authorized share capital by converting preference shares into equity shares, which will also involve an alteration to the Memorandum of Association, subject to shareholder approval. Furthermore, the board approved the continuation of specific clauses from the Shareholders' Agreement (SHA) dated May 13, 2025, as amended on June 25, 2025. These surviving clauses pertain to the 'upside arrangement' and the 'right to nominate directors.' The SHA, originally executed with various investors, terminates upon the company's listing, except for these specified clauses, which will remain in effect subject to shareholder approval and applicable laws. The company will also seek shareholder approval through a postal ballot for the reclassification of authorized share capital, the 'Wakefit Employee Stock Option Plan – 2019,' the upside arrangement, the right to nominate directors, and amendments to the Articles of Association (AOA) to reflect these changes. The notice for the postal ballot will be published and communicated in due course, and details will be available on the company's investor relations website.