On May 29, 2026, ReNew Energy Global Plc ("ReNew" or the "Company") (NASDAQ:RNW, RNWWW)) announced that it has received a non-binding proposal dated May 28, 2026 from Canada Pension Plan Investment Board ("CPP Investments") and Sumant Sinha (the Founder, Chairman and CEO of ReNew) (together with CPP Investments, the "Consortium") to, subject to the Rollover (as defined below), acquire the entire issued and to be issued share capital of the Company not already owned by members of the Consortium, for cash consideration of US$6.75 per share (the "Proposed Transaction").

The Proposed Transaction will be structured as a UK scheme of arrangement (the "Scheme"). In connection with the Scheme, each non-Consortium shareholder of the Company will be entitled to either (i) receive US$6.75 in cash for each Share it holds in exchange for transferring its shares to CPP Investments or its designated affiliates (the "Cash Offer"), or (ii) elect to retain its shares (the "Rollover") and remain a shareholder of the Company. Under the terms of the non-binding proposal, unless a shareholder specifically makes an election for Rollover prior to the court hearing for the Scheme, such shareholder will receive the Cash Offer.

A Special Committee ("Special Committee") of the Board of Directors of ReNew, comprising five independent non-executive Directors of ReNew and chaired by Manoj Singh, the Lead Independent Director, is currently evaluating the non-binding proposal.

The Special Committee's mandate is to rigorously explore and evaluate all strategic capitalization and financing opportunities available to the Company, including the proposal received from the Consortium, and to act in the best interests of all investors. To assist in these efforts, the Special Committee has retained an independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters LLP.

While the Special Committee's evaluations are underway, the ReNew Executive Management's primary focus will be to continue to ensure the effective management of the Company and in addition, contribute to the evaluation process, as required by the Special Committee.

No assurance can be given regarding the likelihood, terms or details of a potential transaction resulting from the non-binding proposal received from the Consortium or any other potential transaction. Further decisions or disclosures by the Special Committee will be made as appropriate or required.