CAD/PSX/26 03 018
24 March 2026
The General Manager
Pakistan Stock Exert ange Limited Stock Exchange Building
Stock Exchange Road Karachi
Subject: Change of Director Dear Sir,
This is on beh alf of the Board of Directors of K-Electric Limited ("KEL" or "the ConJpany ') and is in continuation of Notice of E xtraordin ary Ge neral Meet ing (EOG M ) dated 04 March 2026, and the discJosure made on 11 March 2026.
We would like to apprise the sh areholders, investors and market participants of the following deve lop ments:
Subsequent to previous an nounceme nt dated 11 March 2026, the Min istry of Energy (Power Division ), Governme nt of P akist nn (GOP), vide its letter dated March 19, 2026, hns intimated that it has decided to exercise its right to nominate directors on the Board of KE pursuant to Section 165 of the Compan ies Act, 2017.
Further, GOP has confirmed that it will continue with two of the existing nominees on KE's Board i.e Secretary, Ministry of Energy (Power Division) and Secretary, Ministry of Finance (Finance D ivis ion), while the existing third nominee on the Board of Directors of KE i.e. Mr Javed Kure ishi h as been replaced with Mr. Ali Raza Bhutta.
The Company remains committed to ensur ing full compliance with the Companies Act, 2017, and all applicable regulatory requirements and directions.
Yours faithfully,
On behalf of the Board of Directors
Rizwa snani
Chief Risk Officer & Company Secretary Cc: Executive Director/HOD
Offsite II Department, Supervision Division Securities & Exchange Commission of Pakistan Islamabad