Document:

EX-4.4.2

 Exhibit 4.4.2 

AMENDED AND RESTATED WARRANT AGREEMENT 

RENEW ENERGY GLOBAL PLC, 

COMPUTERSHARE INC. 
 and 

COMPUTERSHARE TRUST COMPANY, N.A. 

Dated [●], 2021 
 THIS
AMENDED AND RESTATED WARRANT AGREEMENT (this “Agreement”), is entered into as of [●], 2021, by and between ReNew Energy Global plc, a public limited company incorporated under the laws of England and Wales (the
“ReNew Global”), Computershare Inc., a Delaware corporation, (“Computershare”) and its wholly owned subsidiary, Computershare Trust Company, N.A., a federally chartered trust company, as warrant agent
(in such capacity together with Computershare, the “Warrant Agent”). 
 WHEREAS, in connection with the initial
public offering of units and simultaneous private placement of warrants of RMG Acquisition Corporation II, a Cayman Islands exempted company (“RMG II”), RMG II engaged the Continental Stock Transfer & Trust Company,
a New York corporation (“Continental”) to act on behalf of RMG II, in connection with the issuance, registration, transfer, exchange, redemption and exercise of RMG II’s warrants on the terms and conditions set forth in
the Warrant Agreement dated as of December 9, 2020 between RMG II and Continental (the “Prior Agreement”). 

WHEREAS, RMG II entered into a Business Combination Agreement, dated as of February 24, 2021 (as may be amended from time to time, the
“Business Combination Agreement”), with ReNew Global, Renew Power Private Limited, a company with limited liability incorporated under the laws of India (“ReNew”), Philip Kassin, solely in the capacity
as the representative for the shareholders of RMG II, ReNew Power Global Merger Sub, a Cayman Islands exempted company (the “Merger Sub”) and certain of the shareholders of ReNew (the “ReNew
Shareholders”), pursuant to which, among other things, in connection with the closing of the transactions contemplated by the Business Combination Agreement (“Closing”), (i) Merger Sub will merge with and into
RMG II (the “Merger”) with RMG II being the surviving entity of the Merger and becoming a wholly-owned subsidiary of ReNew Global and (ii) ReNew Global will acquire shares of ReNew and ReNew Global will issue shares to
certain of the ReNew Shareholders, as described in the Business Combination Agreement (the “Share Exchange”, and together with the Merger, the “Transactions”). 

 WHEREAS, effective upon the consummation of the Merger, (i) each RMG II ordinary share
outstanding on the closing date will be cancelled in exchange for the issuance by ReNew Global of one Class A ordinary share of ReNew Global (“ReNew Global Class A Ordinary Shares”),
except that holders of RMG II ordinary shares sold in RMG II’s initial public offering will be entitled to elect instead to receive a pro rata portion of RMG II’s trust account, as provided in RMG II’s amended and restated memorandum
and articles of association (“M&A”), (ii) each outstanding warrant issued by RMG II as part of the units, each comprised of one Class A ordinary share of RMG II and one-third
of one warrant to purchase one Class A ordinary share of RMG II, at a price of $11.50 per share (“Unit”), in RMG II’s initial public offering (the “Public Warrants”) will remain outstanding
and, in accordance with this Agreement, will be automatically adjusted to entitle the holder to subscribe for 1.0917589 ReNew Global Class A Ordinary Shares at a price of $11.50 per 1.0917589 ReNew Global Class A Ordinary Shares, subject
to adjustment as set forth herein, (iii) each outstanding warrant issued by RMG II as part of a private placement (the “Private Placement Warrants”, together with the Public Warrants, collectively, the
“Warrants”) will remain outstanding and, in accordance with this Agreement, will be automatically adjusted to entitle the holder to subscribe for 1.0917589 ReNew Global Class A Ordinary Shares at a price of $11.50 per
1.0917589 ReNew Global Class A Ordinary Shares, subject to adjustment as set forth herein; 
 WHEREAS, ReNew Global, RMG II,
Continental and the Warrant Agent entered into that certain Assignment and Assumption Agreement (the “Assignment and Assumption Agreement”), dated on or about the date hereof, pursuant to which, in accordance with
Section 9.1 of the Prior Agreement, i) ReNew Global was substituted for RMG II in the Prior Agreement and became obligated to perform all of the duties of RMG II under the Prior Agreement and ii) the Warrant Agent was substituted for
Continental in the Prior Agreement and became obligated to perform all of the duties of Continental under the Prior Agreement; 
 WHEREAS,
for the purpose of curing any ambiguity as to whether the Prior Agreement applies to the Warrants following the Closing, ReNew Global and the Warrant Agent agree that the Prior Agreement is hereby amended and restated in its entirety in accordance
with the terms hereof pursuant to Section 9.8 of the Prior Agreement, and, with effect from and following the Closing, this Agreement shall apply, and the terms of the Prior Agreement shall cease to apply, to the Warrants; and 

WHEREAS, all acts and things have been done and performed which are necessary to make the Warrants, when, if a physical certificate is issued,
executed on behalf of ReNew Global and countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of ReNew Global, and to authorize the execution and delivery of this Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 

1. Appointment of Warrant Agent. ReNew Global hereby appoints the Warrant Agent to act as agent for ReNew Global for the Warrants, and
the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the express terms and conditions set forth in this Agreement. 

  
 2 

 2. Warrants. 

2.1 Form of Warrant. Each Warrant shall be held in registered form only and initially issued in book-entry form. 

2.2 Effect of Countersignature. If a physical certificate is issued, unless and until countersigned in manual, facsimile or other
electronic form by the Warrant Agent pursuant to this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3 Registration. 
 2.3.1
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of original issuance, automatic adjustment by virtue of the Merger and the registration of transfer of the
Warrants. Upon the initial issuance or automatic adjustment of the Warrants in book-entry form, the Warrant Agent shall deliver and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in
accordance with instructions delivered to the Warrant Agent by ReNew Global. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by institutions
that have accounts with The Depository Trust Company (“DTC”) (such institution, with respect to a Warrant in its account, a “Participant”). 

If DTC ceases on or after the date hereof to make its book-entry settlement system available for the Public Warrants, ReNew Global may
instruct the Warrant Agent regarding making other arrangements for settlement of transactions in the Public Warrants, including transfer to [●] (the “Depositary Nominee”), a company incorporated in [●] with its
registered address at [●], to facilitate the issuance of depositary receipts in respect of the Public Warrants (the “Depositary Receipts”). In the event that the Public Warrants are not eligible for, or it is no longer
necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to DTC to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and ReNew Global shall instruct the
Warrant Agent to i) deliver to DTC definitive certificates in physical form evidencing such Warrants (“Definitive Warrant Certificates”) which shall be in the form annexed hereto as Exhibit A, subsequently DTC will
transmit such Definitive Warrant Certificates to the holders of the Public Warrants in respect of the Public Warrants to which they are beneficially entitled or ii) transfer such Public Warrants to the Depositary Nominee, who shall issue Depositary
Receipts to the holders of the Public Warrants in respect of the Public Warrants to which they are beneficially entitled. 
 Physical
certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, Secretary or other principal officer of ReNew Global. In the event the person whose
facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at
the date of issuance. 

  
 3 

 2.3.2 Registered Holder. Prior to due presentment for registration of transfer of any
Warrant, ReNew Global and the Warrant Agent may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each Warrant
represented thereby, for the purpose of any exercise thereof, and for all other purposes, and neither ReNew Global nor the Warrant Agent shall be affected by any notice to the contrary. 

2.4 Fractional Warrants. If, upon the detachment of Public Warrants from the Units or otherwise, a holder of Warrants would be entitled
to receive a fractional Warrant, ReNew Global shall round down to the nearest whole number the number of Warrants to be issued to such holder. 

2.5 Private Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they
are held by RMG Sponsor II, LLC, a Delaware limited liability company, (“RMG II Sponsor”) or any of its Permitted Transferees (as defined below) the Private Placement Warrants: (i) may be exercised for cash or on a
“cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including the ReNew Global Class A Ordinary Shares issuable upon exercise of the Private Placement Warrants, may not be transferred, assigned or sold until
thirty (30) days after the date hereof, (iii) shall not be redeemable by ReNew Global pursuant to Section 6.1 hereof and (iv) shall only be redeemable by ReNew Global pursuant to Section 6.2 if the Reference
Value (as defined below) is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof); provided, however, that in the case of (ii), the Private Placement Warrants and any ReNew Global
Class A Ordinary Shares issued upon exercise of the Private Placement Warrants may be transferred by the holders thereof: 
 (a) to
ReNew Global’s officers or directors, any affiliates or family members of any of ReNew Global’s officers or directors, any members or partners of RMG II Sponsor or their affiliates, any affiliates of RMG II Sponsor, or any employees of
such affiliates; 
 (b) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a trust,
the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or to a charitable organization; 

(c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; 

(d) in the case of an individual, pursuant to a qualified domestic relations order; or 

(e) in the case of a trust, by distribution to one or more of the permissible beneficiaries of such trust; 

(f) by virtue of RMG II Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; or 

(g) in the event of ReNew Global’s completion of a liquidation, merger, share exchange or other similar transaction which results in all
of the public shareholders having the right to exchange their Ordinary Shares for cash, securities or other property; 

  
 4 

 provided, however, that, in the case of clauses (a) through (e), these permitted
transferees (the “Permitted Transferees”) must enter into a written agreement with ReNew Global agreeing to be bound by the transfer restrictions in this Agreement. 

3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of
this Agreement, to purchase from ReNew Global the number of ReNew Global Class A Ordinary Shares stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the last
sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant to a “cashless
exercise,” to the extent permitted hereunder) described in the prior sentence at which Ordinary Shares may be purchased at the time a Warrant is exercised. ReNew Global in its sole discretion may lower the Warrant Price at any time prior to the
Expiration Date (as defined below) for a period of not less than fifteen (15) Business Days (as defined below) (unless otherwise required by the Commission, any national securities exchange on which the Warrants are listed or applicable law);
provided that ReNew Global shall provide at least five (5) days’ prior written notice of such reduction to Registered Holders of the Warrants; and provided further, that any such reduction shall be identical among all of the
Warrants. For the purposes of this Agreement, a “Business Day” shall mean a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal business. 

3.2 Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) (A)
commencing on December 14, 2021, and (B) terminating at the earliest to occur of (x) 5:00 p.m., New York City time on the date that is five (5) years after the date hereof, and (y) other than with respect to the Private Placement
Warrants then held by RMG II Sponsor or its Permitted Transferees with respect to a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in
compliance with Section 4 hereof), Section 6.2 hereof, 5:00 p.m., New York City time on the Redemption Date (as defined below) as provided in Section 6.3 hereof (the
“Expiration Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below, with respect to an
effective registration statement or a valid exemption therefrom being available. Except, as applicable, with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a Private Placement Warrant then held by
RMG II Sponsor or its Permitted Transferees in connection with a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with
Section 4 hereof), Section 6.2 hereof) in the event of a redemption (as set forth in Section 6 hereof), each Warrant (other than a Private Placement Warrant then held by
RMG II Sponsor or its Permitted Transferees in the event of a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with
Section 4 hereof), Section 6.2 hereof) not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease
at 5:00 p.m. New York City time on the Expiration Date. ReNew Global in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided that ReNew Global shall provide at least twenty (20) days prior
written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical in duration among all the Warrants. 

  
 5 

 3.3 Exercise of Warrants. 

3.3.1 Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof
by delivering to the Warrant Agent at its office designated for such purpose (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Warrant represented by a book-entry, the Warrants to be exercised
(the “Book-Entry Warrants”) on the records of DTC to an account of the Warrant Agent at DTC designated for such purposes in writing by the Warrant Agent to DTC from time to time, (ii) an election to purchase
(“Election to Purchase”) any ReNew Global Class A Ordinary Shares pursuant to the exercise of a Warrant, properly completed and duly executed by the Registered Holder on the reverse of the Definitive Warrant Certificate
accompanied by a signature guarantee or, in the case of a Book-Entry Warrant, properly delivered by the Participant in accordance with DTC’s procedures, and (iii) the payment in full of the Warrant Price for each ReNew Global Class A
Ordinary Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the ReNew Global Class A Ordinary Shares and the issuance of such ReNew
Global Class A Ordinary Shares, as follows: 
 (a) in lawful money of the United States, in good certified check or good bank draft
payable to the order of the Warrant Agent; 
 (b) [reserved]; 

(c) with respect to any Private Placement Warrant, so long as such Private Placement Warrant is held by RMG II Sponsor or a Permitted
Transferee, by surrendering the Warrants for that number of ReNew Global Class A Ordinary Shares equal to (i) if in connection with a redemption of Private Placement Warrants pursuant to Section 6.2 hereof, as
provided in Section 6.2 hereof with respect to a Make-Whole Exercise and (ii) in all other scenarios the quotient obtained by dividing (x) the product of the number of ReNew Global Class A Ordinary Shares
underlying the Warrants, multiplied by the excess of the “Sponsor Exercise Fair Market Value” (as defined in this subsection 3.3.1(c)) less the Warrant Price by (y) RMG II Sponsor Exercise Fair
Market Value, subject to payment (or the giving of an undertaking to make payment) of the nominal value (being US$0.0001 per share as at the date of this Agreement) per Renew Global Class A Ordinary Share. Solely for purposes of this
subsection 3.3.1(c), the “Sponsor Fair Market Value” shall mean the average last reported sale price of the ReNew Global Class A Ordinary Shares for the ten (10) trading days ending on the third (3rd) trading
day prior to the date on which notice of exercise of the Private Placement Warrant is sent to the Warrant Agent; 
 (d) as provided in
Section 6.2 hereof with respect to a Make-Whole Exercise; or 
 (e) as provided in
Section 7.4 hereof. 

  
 6 

 3.3.2 Issuance of Ordinary Shares on Exercise. As soon as practicable after the
exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), ReNew Global shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as
applicable, for the number of ReNew Global Class A Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it on the register of members of ReNew Global, and if such Warrant shall
not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, ReNew Global shall not be obligated
to deliver any ReNew Global Class A Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the ReNew Global
Class A Ordinary Shares underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to ReNew Global’s satisfying its obligations under Section 7.4 or a valid exemption
from registration is available. No Warrant shall be exercisable and ReNew Global shall not be obligated to issue ReNew Global Class A Ordinary Shares upon exercise of a Warrant unless the ReNew Global Class A Ordinary Shares issuable upon
such Warrant exercise have been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants. Subject to
Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise its Warrants only for a whole number of ReNew Global Class A Ordinary Shares. ReNew Global may require holders of Public Warrants to settle
the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant,
to receive a fractional interest in a ReNew Global Class A Ordinary Share, ReNew Global shall round down to the nearest whole number, the number of ReNew Global Class A Ordinary Shares to be issued to such holder. ReNew Global shall
calculate and transmit to the Warrant Agent, and the Warrant Agent shall have no obligation under this Agreement to calculate, such fractional interest. The number of shares of ReNew Global Class A Ordinary Share to be issued on such exercise
will be determined by ReNew Global (with written notice thereof to the Warrant Agent) and the Warrant Agent shall have no duty or obligation to investigate or confirm whether ReNew Global’s determination of the number of shares of ReNew Global
Class A Ordinary Share to be issued on such exercise, is accurate or correct. 
 3.3.3 Valid Issuance. All ReNew Global
Class A Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully paid and nonassessable. 

3.3.4 Date of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for ReNew Global Class A
Ordinary Shares is issued and who is registered in the register of members of ReNew Global shall for all purposes be deemed to have become the holder of record of such ReNew Global Class A Ordinary Shares on the date on which the Warrant, or
book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and
payment is a date when the register of members of ReNew Global or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which
the share transfer books or book-entry system are open. 

  
 7 

 3.3.5 Maximum Percentage. A holder of a Warrant may notify ReNew Global in writing in
the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If the election is made
by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum Percentage”) of the ReNew Global Class A Ordinary Shares outstanding immediately after
giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of ReNew Global Class A Ordinary Shares beneficially owned by such person and its affiliates shall include the number of ReNew Global Class A
Ordinary Shares issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude ReNew Global Class A Ordinary Shares that would be issuable upon (x) exercise of the remaining,
unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of ReNew Global beneficially owned by such person and its
affiliates (including, without limitation, any convertible notes or convertible preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding
sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in
determining the number of outstanding ReNew Global Class A Ordinary Shares, the holder may rely on the number of outstanding ReNew Global Class A Ordinary Shares as reflected in (1) ReNew Global’s most recent Annual Report on
Form 20-F, Current Report on Form 6-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by ReNew Global or
(3) any other notice by ReNew Global or Computershare Trust Company, N.A., as transfer agent (in such capacity, the “Transfer Agent”), setting forth the number of ReNew Global Class A Ordinary Shares outstanding.
For any reason at any time, upon the written request of the holder of the Warrant, ReNew Global shall, within two (2) Business Days, confirm orally and in writing to such holder the number of ReNew Global Class A Ordinary Shares then
outstanding. In any case, the number of issued and outstanding ReNew Global Class A Ordinary Shares shall be determined after giving effect to the conversion or exercise of equity securities of ReNew Global by the holder and its affiliates
since the date as of which such number of issued and outstanding ReNew Global Class A Ordinary Shares was reported. By written notice to ReNew Global, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to ReNew Global. 

  
 8 

 4. Adjustments. 

4.1 Share Capitalizations. 

4.1.1 Sub-Divisions. If after the date hereof, and subject to the provisions of
Section 4.6 below, the number of issued and outstanding ReNew Global Class A Ordinary Shares is increased by a capitalization or share dividend of ReNew Global Class A Ordinary Shares, or by a sub-division of ReNew Global Class A Ordinary Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the
number of ReNew Global Class A Ordinary Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the issued and outstanding ReNew Global Class A Ordinary Shares. A rights offering made to all or
substantially all holders of ReNew Global Class A Ordinary Shares entitling holders to purchase ReNew Global Class A Ordinary Shares at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed a
capitalization of a number of ReNew Global Class A Ordinary Shares equal to the product of (i) the number of ReNew Global Class A Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities
sold in such rights offering that are convertible into or exercisable for the ReNew Global Class A Ordinary Shares) multiplied by (ii) one (1) minus the quotient of (x) the price per ReNew Global Class A Ordinary Share paid in
such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for ReNew Global Class A Ordinary Shares, in
determining the price payable for ReNew Global Class A Ordinary Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical
Fair Market Value” means the volume weighted average price of the ReNew Global Class A Ordinary Shares during the ten (10) trading day period ending on the trading day prior to the first date on which the ReNew Global Class A
Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. No ReNew Global Class A Ordinary Shares shall be issued at less than their par value. 

4.1.2 Extraordinary Dividends. If ReNew Global, at any time while the Warrants are outstanding and unexpired, pays to all or
substantially all of the holders of the ReNew Global Class A Ordinary Shares a dividend or make a distribution in cash, securities or other assets on account of such ReNew Global Class A Ordinary Shares (or other shares into which the
Warrants are convertible), other than (a) as described in subsection 4.1.1 above and (b) ReNew Global Class A Ordinary Cash Dividends (as defined below)(any such non-excluded event being
referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value
(as determined by ReNew Global’s board of directors (the “Board”), in good faith) of any securities or other assets paid on each ReNew Global Class A Ordinary Share in respect of such Extraordinary Dividend. For
purposes of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash
distributions paid on the ReNew Global Class A Ordinary Shares during the 365-day period ending on the date of declaration of such dividend or distribution to the extent it does not exceed $0.50 (which
amount shall be adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price
or to the number of ReNew Global Class A Ordinary Shares issuable on exercise of each Warrant). 

  
 9 

 4.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of
Section 4.6 hereof, the number of issued and outstanding ReNew Global Class A Ordinary Shares is decreased by a consolidation, combination, reverse share split or reclassification of ReNew Global Class A Ordinary
Shares or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification or similar event, the number of ReNew Global Class A Ordinary Shares issuable on exercise of each Warrant shall
be decreased in proportion to such decrease in issued and outstanding ReNew Global Class A Ordinary Shares. 
 4.3 Adjustments in
Exercise Price. Whenever the number of ReNew Global Class A Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price
shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of ReNew Global Class A Ordinary Shares purchasable upon the
exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of ReNew Global Class A Ordinary Shares so purchasable immediately thereafter. 

4.4 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and outstanding
ReNew Global Class A Ordinary Shares (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the par value of such ReNew Global Class A Ordinary Shares), or in
the case of any merger or consolidation of ReNew Global with or into another corporation (other than a consolidation or merger in which ReNew Global is the continuing corporation and that does not result in any reclassification or reorganization of
the issued and outstanding ReNew Global Class A Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of ReNew Global as an entirety or substantially as an entirety in
connection with which ReNew Global is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the ReNew Global
Class A Ordinary Shares of ReNew Global immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares or stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately
prior to such event (the “Alternative Issuance”); provided, however, that (i) if the holders of the ReNew Global Class A Ordinary Shares were entitled to exercise a right of election as to the kind or
amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be
deemed to be the weighted average of the kind and amount received per share by the holders of the ReNew Global Class A Ordinary Shares in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or
redemption offer shall have been made to and accepted by the holders of the ReNew Global Class A Ordinary Shares under circumstances in which, upon completion of such tender or exchange offer, the

  
 10 

 
maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part, and
together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own
beneficially (within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the issued and outstanding ReNew Global Class A Ordinary Shares, the holder of a Warrant shall be entitled to
receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such
tender or exchange offer, accepted such offer and all of the ReNew Global Class A Ordinary Shares held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such
tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4; provided further that if less than 70% of the consideration receivable by the holders of the ReNew Global
Class A Ordinary Shares in the applicable event is payable in the form of shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the
public disclosure of the consummation of such applicable event by ReNew Global pursuant to a Current Report on Form 6-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars)
equal to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined
below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial
Markets (assuming zero dividends) (“Bloomberg”). For purposes of calculating such amount, (i) Section 6 of this Agreement shall be taken into account, (ii) the price of each ReNew
Global Class A Ordinary Share shall be the volume weighted average price of the ReNew Global Class A Ordinary Shares during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event,
(iii) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the day of the announcement of the applicable event and (iv) the assumed
risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means (i) if the consideration paid to holders of the ReNew Global
Class A Ordinary Shares consists exclusively of cash, the amount of such cash per ReNew Global Class A Ordinary Share, and (ii) in all other cases, the volume weighted average price of the ReNew Global Class A Ordinary Shares
during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also results in a change in ReNew Global Class A Ordinary Shares covered by
subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall
similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event shall the Warrant Price be reduced to less than the par value per share issuable upon exercise of such Warrant. 

  
 11 

 4.5 Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the
number of shares issuable upon exercise of a Warrant, ReNew Global shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if any, in the number
of shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified in Sections 4.1,
4.2, 4.3, or 4.4, ReNew Global shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record date or the effective
date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event. The Warrant Agent shall be fully protected in relying on any such notice and on any adjustment therein contained and
shall have no duty or liability with respect to, and shall not be deemed to have knowledge of, such adjustment unless and until it shall have received such notice. 

4.6 No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, ReNew Global shall not issue
fractional shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional
interest in a share, ReNew Global shall, upon such exercise, round down to the nearest whole number the number of ReNew Global Class A Ordinary Shares to be issued to such holder. 

4.7 Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this
Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant to this Agreement; provided, however,
that ReNew Global may at any time in its sole discretion make any change in the form of Warrant that ReNew Global may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in
exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 
 5. Transfer and Exchange of
Warrants. 
 5.1 Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding
Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an
equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to ReNew Global from time to time
upon request. 
 5.2 Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written
request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants;
provided, however, that except as otherwise provided herein or with respect to any Book-Entry Warrant, each Book-Entry Warrant may be transferred only in whole and only to DTC, to another nominee of DTC, to a successor depository, or
to a nominee of a successor depository; provided further, however that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants), the Warrant Agent shall
not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for ReNew Global stating that such transfer may be made and indicating whether the new Warrants must also bear a
restrictive legend. 

  
 12 

 5.3 Fractional Warrants. The Warrant Agent shall not be required to effect any
registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units. 

5.4 Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants. 

5.5 Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with
the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and ReNew Global, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly
executed on behalf of ReNew Global for such purpose. 
 6 Redemption. 

6.1 Redemption of Warrants for Cash. Subject to Section 6.5 hereof, not less than all of the outstanding
Warrants may be redeemed, at the option of ReNew Global, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below,
at a Redemption Price of $0.01 per Warrant, provided that (a) the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof) and (b) there is an effective
registration statement covering the issuance of the Ordinary Shares issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as
defined in Section 6.3 below). 
 6.2 Redemption of Warrants for ReNew Global Class A
Ordinary Shares. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of ReNew Global, at any time during the Exercise Period, at the office of the Warrant Agent,
upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.10 per Warrant, provided that (i) the Reference Value equals or exceeds $10.00 per share
(subject to adjustment in compliance with Section 4 hereof) and (ii) if the Reference Value is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof), the
Private Placement Warrants are also concurrently called for redemption on the same terms as the outstanding Public Warrants. During the 30-day Redemption Period in connection with a redemption pursuant to this
Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.2 and receive a number of ReNew Global Class A Ordinary Shares
determined by reference to the table below, based on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “Redemption Fair Market Value” (as such term is defined in this
Section 6.2) (a “Make-Whole Exercise”) subject to payment (or the giving of an undertaking to make payment) of the nominal value (being US$0.0001 per share as of the date of this Agreement) per Renew
Global Class A Ordinary Share. Solely for purposes of this Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price of the

  
 13 

 
Ordinary Shares for the ten (10) trading days immediately following the date on which notice of redemption pursuant to this Section 6.2 is sent to the Registered
Holders. In connection with any redemption pursuant to this Section 6.2, ReNew Global shall provide the Registered Holders with the Redemption Fair Market Value no later than one (1) Business Day after the ten
(10) trading day period described above ends. 
  

																																					
	 	  	Redemption Fair Market Value of Ordinary Shares (period to expiration of warrants)	 
	 Redemption Date
	  	£ 10.00	 	  	11.00	 	  	12.00	 	  	13.00	 	  	14.00	 	  	15.00	 	  	16.00	 	  	17.00	 	  	3 18.00	 
	 60 months
	  	 	0.285	 	  	 	0.306	 	  	 	0.324	 	  	 	0.340	 	  	 	0.354	 	  	 	0.368	 	  	 	0.380	 	  	 	0.391	 	  	 	0.394	 
	 57 months
	  	 	0.281	 	  	 	0.302	 	  	 	0.321	 	  	 	0.338	 	  	 	0.354	 	  	 	0.368	 	  	 	0.380	 	  	 	0.391	 	  	 	0.394	 
	 54 months
	  	 	0.275	 	  	 	0.297	 	  	 	0.318	 	  	 	0.335	 	  	 	0.352	 	  	 	0.366	 	  	 	0.379	 	  	 	0.390	 	  	 	0.394	 
	 51 months
	  	 	0.269	 	  	 	0.293	 	  	 	0.313	 	  	 	0.332	 	  	 	0.349	 	  	 	0.364	 	  	 	0.378	 	  	 	0.390	 	  	 	0.394	 
	 48 months
	  	 	0.263	 	  	 	0.287	 	  	 	0.309	 	  	 	0.329	 	  	 	0.346	 	  	 	0.362	 	  	 	0.376	 	  	 	0.389	 	  	 	0.394	 
	 45 months
	  	 	0.257	 	  	 	0.282	 	  	 	0.305	 	  	 	0.325	 	  	 	0.344	 	  	 	0.360	 	  	 	0.374	 	  	 	0.389	 	  	 	0.394	 
	 42 months
	  	 	0.249	 	  	 	0.275	 	  	 	0.299	 	  	 	0.321	 	  	 	0.341	 	  	 	0.358	 	  	 	0.373	 	  	 	0.388	 	  	 	0.394	 
	 39 months
	  	 	0.241	 	  	 	0.269	 	  	 	0.294	 	  	 	0.317	 	  	 	0.337	 	  	 	0.355	 	  	 	0.371	 	  	 	0.386	 	  	 	0.394	 
	 36 months
	  	 	0.233	 	  	 	0.261	 	  	 	0.287	 	  	 	0.311	 	  	 	0.333	 	  	 	0.353	 	  	 	0.370	 	  	 	0.385	 	  	 	0.394	 
	 33 months
	  	 	0.224	 	  	 	0.253	 	  	 	0.281	 	  	 	0.306	 	  	 	0.329	 	  	 	0.349	 	  	 	0.368	 	  	 	0.384	 	  	 	0.394	 
	 30 months
	  	 	0.214	 	  	 	0.245	 	  	 	0.273	 	  	 	0.299	 	  	 	0.324	 	  	 	0.341	 	  	 	0.366	 	  	 	0.383	 	  	 	0.394	 
	 27 months
	  	 	0.202	 	  	 	0.234	 	  	 	0.264	 	  	 	0.293	 	  	 	0.318	 	  	 	0.342	 	  	 	0.362	 	  	 	0.382	 	  	 	0.394	 
	 24 months
	  	 	0.189	 	  	 	0.222	 	  	 	0.254	 	  	 	0.284	 	  	 	0.311	 	  	 	0.336	 	  	 	0.359	 	  	 	0.380	 	  	 	0.394	 
	 21 months
	  	 	0.176	 	  	 	0.211	 	  	 	0.243	 	  	 	0.275	 	  	 	0.305	 	  	 	0.332	 	  	 	0.356	 	  	 	0.379	 	  	 	0.394	 
	 18 months
	  	 	0.159	 	  	 	0.195	 	  	 	0.230	 	  	 	0.264	 	  	 	0.296	 	  	 	0.325	 	  	 	0.352	 	  	 	0.377	 	  	 	0.394	 
	 15 months
	  	 	0.142	 	  	 	0.179	 	  	 	0.215	 	  	 	0.251	 	  	 	0.286	 	  	 	0.318	 	  	 	0.346	 	  	 	0.373	 	  	 	0.394	 
	 12 months
	  	 	0.121	 	  	 	0.159	 	  	 	0.198	 	  	 	0.236	 	  	 	0.273	 	  	 	0.308	 	  	 	0.341	 	  	 	0.370	 	  	 	0.394	 
	 9 months
	  	 	0.098	 	  	 	0.136	 	  	 	0.177	 	  	 	0.217	 	  	 	0.259	 	  	 	0.297	 	  	 	0.333	 	  	 	0.367	 	  	 	0.394	 
	 6 months
	  	 	0.071	 	  	 	0.108	 	  	 	0.150	 	  	 	0.194	 	  	 	0.239	 	  	 	0.283	 	  	 	0.323	 	  	 	0.361	 	  	 	0.394	 
	 3 months
	  	 	0.037	 	  	 	0.071	 	  	 	0.114	 	  	 	0.164	 	  	 	0.215	 	  	 	0.265	 	  	 	0.312	 	  	 	0.356	 	  	 	0.394	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.046	 	  	 	0.126	 	  	 	0.195	 	  	 	0.254	 	  	 	0.307	 	  	 	0.353	 	  	 	0.394	 

 The exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which case, if the
Redemption Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the number of ReNew Global Class A Ordinary Shares to be issued for each Warrant exercised in a Make-Whole
Exercise shall be determined by a straight-line interpolation between the number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and later redemption dates, as applicable, based on a 365- or 366-day year, as applicable. 
 The share prices set forth in the column
headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant or the Exercise Price is adjusted pursuant to Section 4 hereof. If the number of shares issuable
upon exercise of a Warrant is adjusted pursuant to Section 4 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is
the number of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table above
shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. If the Exercise Price of a warrant is adjusted, (a) in the case of an adjustment pursuant to Section 4.4 hereof,
the adjusted share prices in the column headings shall 

  
 14 

 
equal the share prices immediately prior to such adjustment multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued Price and the denominator of
which is $10.00 and (b) in the case of an adjustment pursuant to Section 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment less the decrease in the
Exercise Price pursuant to such Exercise Price adjustment. In no event shall the number of shares issued in connection with a Make-Whole Exercise exceed 0.394 ReNew Global Class A Ordinary Shares per Warrant (subject to adjustment). 

6.3 Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event that ReNew Global elects to redeem the
Warrants pursuant to Sections 6.1 or 6.2, ReNew Global shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by ReNew Global not
less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they
shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a)
“Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean the last reported sales price
of the ReNew Global Class A Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the
redemption is given. 
 6.4 Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless
basis” in accordance with Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by ReNew Global pursuant to Section 6.3 hereof and prior to the Redemption
Date. On and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 

6.5 Exclusion of Private Placement Warrants. ReNew Global agrees that (a) the redemption rights provided in
Section 6.1 hereof shall not apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue to be held by RMG II Sponsor or its Permitted Transferees and (b) if the
Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof), the redemption rights provided in Section 6.2 hereof shall not apply to the Private
Placement Warrants if at the time of the redemption such Private Placement Warrants continue to be held by RMG II Sponsor or its Permitted Transferees. However, once such Private Placement Warrants are transferred (other than to Permitted
Transferees in accordance with Section 2.5 hereof), ReNew Global may redeem the Private Placement Warrants pursuant to Section 6.1 or 6.2 hereof, provided that the criteria for redemption
are met, including the opportunity of the holder of such Private Placement Warrants to exercise the Private Placement Warrants prior to redemption pursuant to Section 6.4 hereof. Private Placement Warrants that are
transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants and shall become Public Warrants under this Agreement, including for purposes of Section 9.8 hereof.

  
 15 

 7. Other Provisions Relating to Rights of Holders of Warrants. 

7.1 No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of ReNew
Global, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of
directors of ReNew Global or any other matter. 
 7.2 Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen,
mutilated, or destroyed, ReNew Global and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant
of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of ReNew Global, whether or not the allegedly lost, stolen, mutilated, or
destroyed Warrant shall be at any time enforceable by anyone. 
 7.3 Reservation of ReNew Global Class A Ordinary
Shares. ReNew Global shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 7.4 Registration of Ordinary Shares; Cashless Exercise at Company’s Option. 

7.4.1 Registration of the ReNew Global Class A Ordinary Shares underlying Public Warrants and Private Placement
Warrants. On [●], 2021, the registration statement on Form F-4 (Commission File No. 333-256228) registering the ReNew Global Class A Ordinary Shares
issuable upon the exercise of the Warrants was declared effective by the Commission. ReNew Global shall use its commercially reasonable efforts to maintain the effectiveness of such registration statement until the expiration of the Warrants. ReNew
Global shall use its commercially reasonable efforts to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions of
this Agreement. During any period when ReNew Global shall fail to have maintained an effective registration statement covering the issuance of the ReNew Global Class A Ordinary Shares issuable upon exercise of the Warrants, the Registered
Holders of the Warrants shall have the right to exercise such Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act or another exemption) for that number of ReNew Global
Class A Ordinary Shares equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of ReNew Global Class A Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market
Value” (as defined below) less the Warrant Price by (y) the Fair Market Value and (B) 0.394, and, in either case, by paying (or giving an undertaking to pay) the nominal value (being US$0.0001 per share as of the date of this Agreement)
per Renew Global Class A Ordinary Share. Solely for purposes of this subsection 7.4.1, “Fair Market Value” shall mean the volume-weighted average price of the ReNew Global Class A Ordinary Shares as reported
during the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of
“cashless exercise” is received by the Warrant Agent shall 

  
 16 

 
be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, ReNew Global shall, upon request, provide the Warrant Agent with an
opinion of counsel for ReNew Global (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a “cashless basis” in accordance with this subsection 7.4.1 is not
required to be registered under the Securities Act and (ii) the ReNew Global Class A Ordinary Shares issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such
term is defined in Rule 144 under the Securities Act) of ReNew Global and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of doubt, unless and until all of the
Warrants have been exercised or have expired, ReNew Global shall continue to be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1. 

7.4.2 Cashless Exercise at Company’s Option. If the ReNew Global Class A Ordinary Shares are at the time of any exercise of a
Public Warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, ReNew Global may, at its option, (i) require holders of
Public Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act as described in subsection 7.4.1 and (ii) in the event ReNew
Global so elects, ReNew Global shall (x) not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the ReNew Global Class A Ordinary Shares issuable upon exercise of the
Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially reasonable efforts to register or qualify for sale the ReNew Global Class A Ordinary Shares issuable upon exercise of the Public Warrant
under applicable blue sky laws to the extent an exemption is not available. 
 8. Concerning the Warrant Agent and Other Matters.

 8.1 Payment of Taxes. ReNew Global shall from time to time promptly pay all taxes and charges that may be imposed upon ReNew
Global or the Warrant Agent in respect of the issuance or delivery of ReNew Global Class A Ordinary Shares upon the exercise of the Warrants, but ReNew Global shall not be obligated to pay any transfer taxes in respect of the Warrants or such
shares, save as expressly stated in this Section 8.1. ReNew Global shall bear and pay and shall reimburse the Warrant Agent forthwith on demand in respect of all and any United Kingdom stamp duty or stamp duty reserve tax
which is otherwise payable by the Warrant Agent as a result of performing its obligations under this Agreement. 
 8.2 Resignation,
Consolidation, or Merger of Warrant Agent. 
 8.2.1 Appointment of Successor Warrant Agent. The Warrant Agent, or any successor
to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities hereunder after giving thirty (30) days’ notice in writing to ReNew Global. If the office of the Warrant Agent becomes vacant by
resignation or incapacity to act or otherwise, ReNew Global shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If ReNew Global shall fail to make such appointment within a period of thirty (30) days after it has
been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant 

  
 17 

 
for inspection by ReNew Global), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent
at ReNew Global’s cost. Any successor Warrant Agent, whether appointed by ReNew Global or by such court, shall be a corporation or other entity organized and existing under the laws of the United States of America, or any state thereof, in good
standing and having its principal office in the United States of America, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor
Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if
for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of ReNew Global, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such
predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent ReNew Global shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such
successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations. 
 8.2.2 Notice of Successor Warrant
Agent. In the event a successor Warrant Agent shall be appointed, ReNew Global shall give notice thereof to the predecessor Warrant Agent and the Transfer Agent for the ReNew Global Class A Ordinary Shares not later than the effective date
of any such appointment. 
 8.2.3 Merger or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or
with which it may be consolidated or any entity resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act. 

8.3 Fees and Expenses of Warrant Agent. 

8.3.1 Remuneration. ReNew Global agrees to pay to the Warrant Agent reasonable compensation for all services rendered by it hereunder
in accordance with a fee schedule to be mutually agreed upon and, from time to time, on demand of the Warrant Agent, its reasonable and documented expenses and counsel fees and disbursements and other disbursements reasonably incurred in the
preparation, negotiation, execution, administration, delivery and amendment of this Agreement and the exercise and performance of its duties hereunder. 

8.3.2 Further Assurances. ReNew Global agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

8.4 Liability of Warrant Agent. 

  
 18 

 8.4.1 Reliance on Company Statement. Whenever in the performance of its duties under
this Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established by ReNew Global prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof
be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer, the President, the Chief Financial Officer, Chief Operating Officer, the General Counsel, the Secretary
or the Chairman of the Board of ReNew Global and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered by it pursuant to the provisions of this Agreement. 

8.4.2 Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct, fraud or bad faith
(in each case, as determined by a final, non-appealable judgment of a court of competent jurisdiction). ReNew Global agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities,
loss, damage, judgment, fine, penalty, claim, demand, settlement, reasonable cost or expense that is paid, incurred or to which it becomes subject, including judgments,
out-of-pocket costs and reasonable outside counsel fees, for anything done or omitted by the Warrant Agent for any action taken, suffered or omitted by the Warrant Agent
in connection with the execution, acceptance, administration, exercise and performance of its duties under this Agreement, including the reasonable costs and expenses of defending against any claim of liability arising therefrom, directly or
indirectly, or of enforcing its rights under this Agreement, except (i) as a result of the Warrant Agent’s gross negligence, willful misconduct, fraud or bad faith (in each case as determined by a final,
non-appealable judgment of a court of competent jurisdiction); or (ii) any Tax imposed on or calculated as a result of the net income received or receivable by the Warrant Agent under applicable law.
Notwithstanding anything in this Agreement to the contrary, in no event shall the Warrant Agent be liable for special, punitive, incidental, indirect or consequential loss or damage of any kind whatsoever, even if the Warrant Agent has been advised
of the likelihood of such loss or damage and regardless of the form of the action. Notwithstanding anything to the contrary herein, any liability, other than liability arising out of or attributable to the Warrant Agent’s bad faith or willful
misconduct, of the Warrant Agent under this Agreement shall be limited to the amount of fees (but not including any reimbursed costs) paid by ReNew Global to the Warrant Agent during the twelve (12) months immediately preceding the event for
which recovery from the Warrant Agent is being sought. 
 8.4.3 Exclusions. The Warrant Agent shall have no responsibility with
respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by ReNew Global of any covenant or condition
contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any
such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any ReNew Global
Class A Ordinary Shares to be issued pursuant to this Agreement or any Warrant or as to whether any ReNew Global Class A Ordinary Shares shall, when issued, be valid and fully paid and nonassessable. 

  
 19 

 8.5 Other Rights of the Warrant Agent. 

8.5.1 Counsel. The Warrant Agent may consult with legal counsel (who may be legal counsel for ReNew Global), and the opinion or advice
of such counsel shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in accordance with such opinion or advice. 

8.5.2 Reliance on Attorneys and Agents. The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or
perform any duty hereunder either itself or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such attorney or agents or for any loss to ReNew Global
resulting from any such act, default, neglect or misconduct, absent gross negligence, bad faith or willful misconduct (each as determined by a final non-appealable judgment of a court of competent
jurisdiction) in the selection and continued employment thereof. 
 8.5.3 Company Instructions. The Warrant Agent may rely on and
shall be held harmless and protected and shall incur no liability for or in respect of any action taken, suffered or omitted to be taken by it in reliance upon any certificate, statement, instrument, opinion, notice, letter, facsimile transmission,
or other document, or any security delivered to it, and believed by it to be genuine and to have been made or signed by the proper party or parties, or upon any written instructions or statements from ReNew Global with respect to any matter relating
to its acting as Warrant Agent hereunder. 
 8.5.4 No Risk of Own Funds. The Warrant Agent shall not be obligated to expend or risk
its own funds or to take any action that it believes would expose or subject it to expense or liability or to a risk of incurring expense or liability, unless it has been furnished with assurances of repayment or indemnity satisfactory to it. 

8.5.5 Opinion of Counsel. ReNew Global shall provide an opinion of counsel reasonably satisfactory to the Warrant Agent prior to the
effective date of this Warrant Agent Agreement which shall state that all Warrants are: (1) registered under the Securities Act of 1933, as amended, or are exempt from such registration, and all appropriate state securities law filings have
been made with respect to the warrants; and (2) validly issued, fully paid and non-assessable. 

8.5.6 Bank Accounts. All funds received by Computershare under this Agreement that are to be distributed or applied by Computershare in
the performance of services hereunder (the “Funds”) shall be held by Computershare as agent for ReNew Global and deposited in one or more bank accounts to be maintained by Computershare in its name as agent for ReNew Global
and shall distribute or apply, as applicable, such Funds in accordance with the terms and conditions herein. Computershare shall have no responsibility or liability for any diminution of the Funds that may result from any deposit made by
Computershare in accordance with this paragraph, including any losses resulting from a default by any bank, financial institution or other third party. Computershare may from time to time receive interest, dividends or other earnings in connection
with such deposits. Computershare shall not be obligated to pay such interest, dividends or earnings to ReNew Global, any holder or any other party. 

  
 20 

 8.6 Acceptance of Agency. The Warrant Agent hereby accepts the agency established by
this Agreement and agrees to perform the same upon the express terms and conditions herein set forth and among other things, shall account promptly to ReNew Global with respect to Warrants exercised and concurrently account for, and pay to ReNew
Global, all monies received by the Warrant Agent for the purchase of ReNew Global Class A Ordinary Shares through the exercise of the Warrants. 

8.7 Survival. The obligations of ReNew Global under this Section 8 shall survive the termination of this Agreement, the
resignation, replacement or removal of the Warrant Agent and the exercise, termination and expiration of the Warrant. 
 8.8 Delivery of
Exercise Price. The Warrant Agent shall forward funds received for warrant exercises in a given month by the 5th Business Day of the following month by wire transfer to an account designated by ReNew Global. 

8.9 Confidentiality. The Warrant Agent and ReNew Global agree that all books, records, information and data pertaining to the business
of the other party, including inter alia, personal, non-public warrant holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement including the
fees for services shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law, including, without limitation, pursuant to (i) subpoenas from state or federal government authorities
(e.g., in divorce and criminal actions) or (ii) securities law disclosure rule or disclosure rules of the Commission or any stock exchange. 

9. Miscellaneous Provisions. 

9.1 Successors. All the covenants and provisions of this Agreement by or for the benefit of ReNew Global or the Warrant Agent shall
bind and inure to the benefit of their respective successors and assigns. 
 9.2 Notices. Any notice, statement or demand authorized
by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on ReNew Global shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by ReNew Global with the Warrant Agent), as follows: 

ReNew Energy Global plc 
 [138,
Ansal Chamber – II 
 Bikaji Cama Place 

New Delhi, Delhi – 110066 

India] 
 Attention: D.
Muthukumaran 
 Email: D.Mkumar@Renewpower.in 

with a copy to: 

  
 21 

 Latham & Watkins LLP 

9 Raffles Place 
 #42-02 Republic Plaza 
 Singapore 048619 

Attention: Rajiv Gupta and Sharon Lau 

Email: Rajiv.Gupta@lw.com and Sharon.Lau@lw.com 

Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by ReNew Global to or on the Warrant Agent
shall be in writing and sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another
address is filed in writing by the Warrant Agent with ReNew Global), as follows: 
 Computershare Inc. 

Computershare Trust Company, N.A. 

150 Royal Street 
 Canton, MA
02021 
 Attention: Client Services 

9.3 Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be
governed in all respects by the laws of the State of New York. Subject to applicable law, ReNew Global hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and
enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding or
claim. ReNew Global hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any
liability or duty created by the Exchange Act or any other claim for which the federal district courts of the United States of America are the sole and exclusive forum. 

Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to
the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located within the State of New York or the United
States District Court for the Southern District of New York (a “foreign action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal
courts located within the State of New York or the United States District Court for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and
(y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder. 

  
 22 

 9.4 Persons Having Rights under this Agreement. Nothing in this Agreement shall be
construed to confer upon, or give to, any person, corporation or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition,
stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the
Registered Holders of the Warrants. 
 9.5 Examination of the Warrant Agreement. A copy of this Agreement shall be available at all
reasonable times at the office of the Warrant Agent in the United States of America, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the
Warrant Agent. 
 9.6 Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of
such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

9.7 Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof. 
 9.8 Amendments. This Agreement may be amended by the parties hereto without the consent of any
Registered Holder for the purpose of (i) curing any ambiguity or to correct any mistake, including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set forth in the Prospectus, or defective
provision contained herein, (ii) amending the definition of “ReNew Global Class A Ordinary Cash Dividend” as contemplated by and in accordance with the second sentence of subsection 4.1.2 or (iii) adding or changing
any provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the rights of the Registered Holders under this Agreement. All other
modifications or amendments, including any modification or amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants, shall require the vote or written consent of the
Registered Holders of 65% of the then-outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Placement Warrants or any provision of this Agreement with respect to the Private Placement Warrants, 65% of the
then-outstanding Private Placement Warrants. Notwithstanding the foregoing, ReNew Global may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of
the Registered Holders. No amendment to this Warrant Agent Agreement shall be effective unless duly executed by the Warrant Agent. As a condition precedent to the execution by the Warrant Agent of this Agreement, ReNew Global shall deliver a
certificate from an Authorized Signatory which states that the proposed amendment is in compliance with the terms of this Section 9.8. 

9.9 Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof
shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable; provided, however, that if any excluded provision shall materially affect the rights, immunities, liabilities,
duties or obligations of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately upon written notice to ReNew Global. 

  
 23 

 9.10 Force Majeure. Notwithstanding anything to the contrary contained herein, the
Warrant Agent shall not be liable for any delays or failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, epidemics, pandemics, shortage of supply, breakdowns or
malfunctions, interruptions or malfunctions of any utilities, communications, or computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war or civil
unrest. 
 Exhibit A Form of Warrant Certificate 

  
 24 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written. 
  

					
	RENEW ENERGY GLOBAL PLC
		
	By:	 	
                     
       

		 	Name:	 	[●]
		 	Title:	 	[●]
	
	COMPUTERSHARE INC.
	
	COMPUTERSHARE TRUST COMPANY, N.A., as Warrant Agent
		
	By:	 	  

		 	Name:	 	[●]
		 	Title:	 	[●]

 [Signature Page to Warrant Agreement] 

 EXHIBIT A 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

ReNew Energy Global plc 

Incorporated Under the Laws of England and Wales 

CUSIP [●] 
 Warrant
Certificate 
 This Warrant Certificate certifies that
[                ], or registered assigns, is the registered holder of
[                ] warrant(s) (the “Warrants” and each, a “Warrant”) to purchase Class A ordinary shares,
$0.0001 par value (“Ordinary Shares”), of ReNew Energy Global plc, a public limited company incorporated under the laws of England and Wales (the “Company”). Each Warrant entitles the holder, upon
exercise during the period set forth in the Warrant Agreement referred to on the reverse hereof, to receive from the Company that number of fully paid and nonassessable Ordinary Shares as set forth below, at the exercise price (the
“Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United States of America upon
surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant
Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 
 Each whole Warrant is initially
exercisable for 1.0917589 fully paid and non-assessable Ordinary Shares. Fractional shares shall not be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to
receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to the Warrant holder. The number of Ordinary Shares issuable upon exercise of
the Warrants is subject to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 
 The initial Exercise
Price per 1.0917589 Ordinary Shares for any Warrant is equal to $11.50 per 1.0917589 Ordinary Shares. The Exercise Price is subject to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 

 Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised
only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set forth in the Warrant Agreement. 

Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions
shall for all purposes have the same effect as though fully set forth at this place. 
 This Warrant Certificate shall not be valid unless
countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 
 This Warrant Certificate shall be governed by and
construed in accordance with the internal laws of the State of New York. 
  

					
	RENEW ENERGY GLOBAL PLC
		
	By:	 	
                     
       

		 	Name:	 	
		 	Title:	 	Authorized Signatory
	
	COMPUTERSHARE INC.
	
	COMPUTERSHARE TRUST COMPANY, N.A., AS WARRANT AGENT
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive [                ] Ordinary Shares and
are issued or to be issued pursuant to the Amended and Restated Warrant Agreement dated as of                , 2021 (the “Warrant Agreement”),
duly executed and delivered by ReNew Global to Computershare Inc., a Delaware corporation, and its wholly owned subsidiary, Computershare Trust Company, N.A., a federally chartered trust company, as warrant agent (the “Warrant
Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of
the Warrant Agent, ReNew Global and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may
be obtained by the holder hereof upon written request to ReNew Global. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 

Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this
Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of Election to Purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby, the number of Warrants
exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the issuance of the Ordinary Shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the Ordinary Shares is current, except through
“cashless exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement provides that upon the
occurrence of certain events the number of Ordinary Shares issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to
receive a fractional interest in an Ordinary Share, ReNew Global shall, upon exercise, round down to the nearest whole number of Ordinary Shares to be issued to the holder of the Warrant. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 

 Upon due presentation for registration of transfer of this Warrant Certificate at the office
of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations
provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 
 The
Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise
hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither ReNew Global nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder
hereof to any rights of a shareholder of ReNew Global. 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive
[                ] Ordinary Shares and herewith tenders payment for such Ordinary Shares to the order of ReNew Energy Global plc (the
“Company”) in the amount of $[                ] in accordance with the terms hereof. The undersigned requests that a certificate
for such Ordinary Shares be registered in the name of [                ], whose address is
[                ] and that such Ordinary Shares be delivered to [                
     ] whose address is [                ]. If said number of Ordinary Shares is less than all of the Ordinary Shares purchasable hereunder, the
undersigned requests that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in the name of [                ], whose
address is [               ] and that such Warrant Certificate be delivered to [                ], whose
address is [                ]. 
 In the event that the
Warrant has been called for redemption by ReNew Global pursuant to Section 6 of the Warrant Agreement and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of Ordinary Shares that
this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) or Section 6.2 of the Warrant Agreement, as applicable. 

In the event that the Warrant is a Private Placement Warrant that is to be exercised on a “cashless” basis pursuant to subsection
3.3.1(c) of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement. 

In the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the
Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement. 

In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number
of Ordinary Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise; (ii) the holder hereof hereby undertakes to pay on demand the
relevant aggregate nominal value for the Ordinary Shares to be issued; and (iii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through
the cashless exercise provisions of the Warrant Agreement, to receive Ordinary Shares. If said number of shares is less than all of the Ordinary Shares purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests
that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in the name of [                ], whose address is
[               ] and that such Warrant Certificate be delivered to [                ], whose address is
[                ]. 
 [Signature Page Follows] 

 Date: [                ], 20

  

	
	(Signature)
	
	(Address)
	  

	(Tax Identification Number)

 Signature Guaranteed: 

 
 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN
ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR
ANY SUCCESSOR RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).EX-10.2

 Exhibit 10.2 

SUBJECT TO CONTRACT 
 Dated

 RENEW ENERGY GLOBAL PLC 

AND 
 SUMANT SINHA 

 
  

SERVICE AGREEMENT 
  

 
  
 

 
 London 

99 Bishopsgate 
 London EC2M 3XF

 (44) 020 7710 1000 (Tel) 
 (44)
020 7374 4460 (Fax) 
 www.lw.com 

 THIS AGREEMENT is made on __________________2021 

BETWEEN 
  

	(1)	 RENEW ENERGY GLOBAL PLC, a company registered in England with registered number 07529494 and having its
registered office at [insert address] (the “Company”); and 

  

	(2)	 SUMANT SINHA residing at [insert address] (“you” or the
“Executive”) . 

 BACKGROUND 

The Company wishes to employ you as Chairman and Chief Executive Officer on the terms and conditions of this Agreement and you wish to accept such employment.

 IT IS AGREED as follows: 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Definitions 

In this Agreement, unless the context otherwise requires: 

 

			
	“Basic Salary”	  	means the salary, as specified in Clause 6.1(a) or, as appropriate, the reviewed annual salary from time to time;
		
	“Board”	  	means the board of directors of the Company from time to time or any duly authorised committee thereof, or where the relevant powers have been reserved to the Company’s members, its members from time to time;
		
	“Cause”	  	means any of the following events as determined by the Board (at which meeting the Executive will recuse himself) by following due procedure in consonance with principles of natural justice and duly communicated in writing to the
Executive: (i) the commission of an act of breach of fiduciary duty, fraud, theft or embezzlement on the part of the Executive; (ii) the conviction or indictment of Executive, or a plea of nolo contendere by the Executive, to any
felony or any crime involving moral turpitude; (iii) the commission of an act of wilful misconduct in the nature of: (A) the Executive’s material breach of the employment agreement; or (B) the Executive’s deliberate and
persistent failure to (x) substantially perform the Executive’s duties with the Company or any of its subsidiaries (other than any such failure resulting from the Executive’s disability) following repeated written notices to the
Executive which specifically identifies the manner in which the Company believes that the Executive has consistently failed to perform the Executive’s duties or (y) comply with, in any material respect, any of the Company’s material
policies following written notice to the Executive which specifically identifies the manner in which the Company believes that the Executive has consistently failed to perform executive’s duties; (C) the Executive’s deliberate and
persistent failure in any material respect to carry out or comply with any lawful and reasonable directive of the Board following written notice to the Executive.

  
 1 

			
		  	A ‘deliberate and persistent’ failure shall mean failure of the Executive to cure any breach within 90 days of having been issued written notice identifying the breach and after having been provided an opportunity to do
so. If the Executive commits the same breach again, then that will automatically constitute “Cause”.
		
	“Closing”	  	has the meaning given to such term in the business combination agreement, dated as of 24 February 2021, as amended from time to time, between, among others, the Company, Renew Power Private Limited and RMG Acquisition
Corporation II.
		
	 “Confidential

Information”
	  	means all information which is identified or treated by the Company or any Group Company or any of the Group’s clients or customers as confidential or which by reason of its character or the circumstances or manner of its
disclosure is evidently confidential including (without prejudice to the foregoing generality) any information about the personal affairs of any of the directors (or their families) of the Company or any Group Company, business plans, proposals
relating to the acquisition or disposal of a company or business or proposed expansion or contraction of activities, maturing new business opportunities, research and development projects, designs, secret processes, trade secrets, product or
services development and formulae, know-how, inventions, sales statistics and forecasts, marketing strategies and plans, costs, profit and loss and other financial information (save to the extent published in
audited accounts), prices and discount structures and the names, addresses and contact and other details of: (a) employees and their terms of employment; (b) customers and potential customers, their requirements and their terms of business
with the Company or Group; and (c) suppliers and potential suppliers and their terms of business (all whether or not recorded in writing or in electronic or other format);
		
	“Corruption”	  	includes bribery, extortion, fraud, deception, collusion, and money laundering, and each of these terms shall have the meaning ascribed to them by applicable law including but not limited to the Bribery Act 2010, the Fraud Act 2006,
and the Proceeds of Crime Act 2002, or any similar legislation in any other jurisdiction;
		
	“EBITDA”	  	means earnings before interest, tax, depreciation and amortization expenses;
		
	“Employment”	  	means your employment under this Agreement or, as the context requires, the duration of that employment;

  
 2 

 
			
	“Existing Investments”	  	means your investments (in shares, loan capital or in any other security), and the investments of your partner and/or children or your partner’s children under the age of 18, in any company or any other person, whether or not
listed or dealt in on a recognised stock exchange, which are on the date of this Agreement held directly or indirectly including through any nominee, fund or pooled vehicle, details of which are set out in Schedule 3.
		
	“Good Reason”	  	 means (i) a material reduction, without the Executive’s consent, in the Executive’s Basic Salary or annual target bonus
opportunity, (ii) a material and adverse change in Executive’s authority, duties or responsibilities, (iii) a material breach of this Agreement by the Company or (iv) a Change in Control (as defined in the Company’s 2021
Incentive Award Plan).
  
 Notwithstanding the foregoing, no Good Reason will have
occurred unless and until the Executive has (a) provided the Company, within ninety (90) days of the Executive’s knowledge of the occurrence of the fact and circumstances underlying the Good Reason event, written notice stating the
applicable facts and circumstances underlying such finding of Good Reason; (b) provided the Company with an opportunity to cure the same within thirty (30) days after the receipt of such notice; and (c) the Executive resigns from
employment within one hundred and eighty (180) days following the Company’s failure to cure.

		
	“Group”	  	means together or separately the Company, any holding company or undertaking of the Company and any subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking from time to time (and the words
“subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006);
		
	“Group Company”	  	means any company within the Group;
		
	“Health Care Scheme”	  	means medical expenses insurance, group life assurance, permanent health insurance (“PHI”) or other healthcare or disability scheme(s) or arrangement(s) as may be provided or introduced from time to time by the
Company (at the Company’s discretion) for the benefit of similarly situated executives in the Company or Group;
		
	“Intellectual Property Rights”	  	means any and all existing and future intellectual or industrial property rights in and to any Works (whether registered or unregistered), including all existing and future patents, copyrights, design rights, database rights, trade
marks, semiconductor topography rights, plant varieties rights, internet rights/domain names, know-how and any and all applications for any of the foregoing and any and all rights to apply for any of the
foregoing in and to any Works;
		
	“Minority Holder”	  	means a person who either solely or jointly holds (directly or through nominees) any shares or loan capital in any company, whether or not it is listed or dealt in on a recognised stock exchange, provided that such holding does not,
when aggregated with any shares or loan capital held by your partner and/or your children or your partner’s children under the age of 18, exceed 5% of the shares or loan capital of the class concerned for the time being
issued;

  
 3 

			
	“Minority VC Holder”	  	means a person who directly or indirectly holds (including through nominees, funds or pooled vehicles) any shares or loan capital in any privately held start-up company, provided that such
holding does not, when aggregated with any shares or loan capital held by your partner and/or your children or your partner’s children under the age of 18 in any such privately held start-up company,
exceed 20% of the shares or loan capital for the time being issued;
		
	“Remuneration Committee”	  	means the remuneration committee appointed by the Board;
		
	“Share Incentive”	  	means any option or other right that you may have to purchase, hold or otherwise acquire a share or right in respect of or relating to shares in the Company and/or a Group Company;
		
	“Termination Date”	  	means the date of termination of the Employment;
		
	“Works”	  	means any documents, materials, models, designs, drawings, processes, inventions, formulae, computer coding, methodologies, know-how, Confidential Information or other work, performed made,
created, devised, developed or discovered by you during the Employment (and whether or not made or discovered in the course of the Employment) either alone or with any other person in connection with or in any way affecting or relating to the
business of the Company or any Group Company or capable of being used or adapted for use therein or in connection therewith;

  

	1.2	 Interpretation and Construction 

Save to the extent that the context or the express provisions of this Agreement require otherwise, in this Agreement: 

 

	 	(a)	 words importing the singular shall include the plural and vice versa; 

 

	 	(b)	 words importing any gender shall include all other genders; 

 

	 	(c)	 words importing the whole shall be treated as including reference to any part of the whole;

  

	 	(d)	 any reference to a Clause, the Schedule or part of the Schedule is to the relevant Clause, Schedule or part of
the Schedule of or to this Agreement unless otherwise specified; 

  

	 	(e)	 reference to this Agreement or to any other document is a reference to this Agreement or to that other document
as modified, amended, varied, supplemented, assigned, novated or replaced from time to time; 

  
 4 

	 	(f)	 reference to a provision of law is a reference to that provision as extended, applied, amended, consolidated or
re-enacted or as the application thereof is modified from time to time and shall be construed as including reference to any order, instrument, regulation or other subordinate legislation from time to time made
under it except to the extent that any extension, application, amendment, consolidation, re-enactment modification or construction takes effect after the date of this Agreement and has the effect of increasing
or extending any obligation or liability or otherwise adversely affects the rights of, any Party; 

  

	 	(g)	 references to a “person” includes any individual, firm, company, corporation, body corporate,
government, state or agency of state, trust or foundation, or any association, partnership or unincorporated body (whether or not having separate legal personality) or two or more of the foregoing; 

 

	 	(h)	 general words shall not be given a restrictive meaning because they are followed by words which are particular
examples of the acts, matters or things covered by the general words and “including”, “include” and “in particular” shall be construed without limitation; and 

 

	 	(i)	 the meaning of any words coming after “other” or “otherwise” shall not be constrained by
the meaning of any words coming before “other” or “otherwise where a wider construction is possible. 

  

	1.3	 Headings 

The headings in this Agreement are included for convenience only and shall be ignored in construing this Agreement. 

 

	2.	 THE EMPLOYMENT 

 

	2.1	 Appointment 

The terms and effect of this Agreement are conditional on and shall only be effective upon Closing. Subject to the provisions of this
Agreement, the Company employs you and you accept employment as Chief Executive Officer and Chairman of the Company with effect from Closing notwithstanding the date or dates of this Agreement. If Closing does not occur, this Agreement will not come
into effect and will not bind the parties. 
  

	2.2	 Work Permits and Company’s covenant 

 

	 	(a)	 You warrant to the Company that by virtue of entering into this Agreement you will not be in breach of any
express or implied obligation to any third party, including any restrictive covenants. 

  

	 	(b)	 The Company agrees that it will use its best endeavours to procure as soon as reasonably practicable and
maintain throughout the Employment thereafter a valid United Kingdom work permit so that you are entitled to work in the United Kingdom , subject at all times to your compliance with the requirements of any such work permit and not doing anything
that would prejudice the validity of the work permit. Should the Company fail to discharge the foregoing obligation, you shall be entitled to perform the CEO and Chairman duties from any location where you are legally permitted to work and the
Company will reimburse you for your reasonable expenses (up to a reasonable amount to be agreed in good faith between the Company and the CEO) properly incurred for working in that location. If your employment terminates solely due to a failure by
the Company to obtain or maintain a work permit to allow you to work in the United Kingdom in circumstances where you have provided all reasonable assistance to the Company in applying for or maintaining such work permit, that termination of
employment will be treated as termination without Cause. 

  
 5 

	3.	 DURATION OF THE EMPLOYMENT 

 

	3.1	 Continuous Employment  

Your continuous period of employment with the Company commenced on [insert date]1.
No probationary period applies to your employment. 
  

	3.2	 Duration 

Subject to the provisions of Clauses 3 and 18.1 the Employment shall continue unless and until terminated at any time by: 

 

	 	(a)	 the Company, which must give to you not less than six months’ prior written notice of termination of the
Employment; or 

  

	 	(b)	 you, who must give to the Company not less than six months’ prior written notice of termination of the
Employment. 

 Any termination of the Agreement by either Party under Clause 3.2 shall be without prejudice to and subject
to Clause 3.4 and Clause 3.6 
  

	3.3	 Payment in lieu of notice 

 

	 	(a)	 The Company shall be entitled, at its sole discretion, to terminate the Employment immediately at any time by
giving you notice in writing. In these circumstances, if such termination is other than for Cause, the Company will subsequently make a payment to you in lieu of notice, calculated in accordance with the provisions this Clause 3.3 (the payment being
referred to as a “Notice Payment”). The Notice Payment shall be paid within 10 business days following the termination date. For the avoidance of doubt the Company shall not be required to make a Notice Payment if your employment is
terminated with immediate effect for Cause. 

  

	 	(b)	 The Notice Payment will be paid less all deductions that are required by law to be made including in respect of
income tax, national insurance contributions and any sums due to the Company or any Group Company. 

  

	 	(c)	 The Notice Payment will consist of a sum equivalent to the Basic Salary which you would have received in
respect of any notice period outstanding on the Termination Date. Any entitlement to bonus, commission and share of profit and any other benefits (for example any benefits derived from any Share Incentives) which you would have received or would
have accrued to you during that period will be determined by the terms of Clauses 6.3, 6.4 and the relevant bonus, commission or share incentive plan. 

  

	3.4	 Additional Severance 

Subject to Clause 3.5, if at any time either: 
  

	 	(a)	 the Company terminates your Employment other than for Cause; or 

 

	 	(b)	 you resign from your Employment for Good Reason, 

then, provided that you enter into a settlement agreement and release of claims in favour of the Company, each Group Company and each of their
employees, officers and directors and in a form acceptable to the Company, the Company shall, in addition to any amounts otherwise 

 

	1 	 Note to Draft: This should be the date that Mr Sinha first began working for the Renew group.

  
 6 

 
payable to you (including without limitations any entitlements under the Company’s 2021 Incentive Award Plan) and your entitlement to notice in accordance with Clause 3.2 or a payment in
lieu of notice in accordance with Clause 3.3, pay you a severance payment equal to the amount set out below in lump sum payment and on or before the last date of your Employment: 

 

	 	(i)	 12 months’ Basic Salary; 

 

	 	(ii)	 a payment equal to the Annual Bonus which would have been payable to you in the year that your Employment
terminates, reduced pro-rata to reflect the duration of the bonus year in which you remained employed; and 

  

	 	(iii)	 a payment in lieu of 12 months’ Company paid medical insurance. 

 

	3.5	 Change in Control Severance 

If there is a Change in Control (as defined in the Company’s 2021 Incentive Award Plan) and within 12 months’ following that Change
in Control either: 
  

	 	(a)	 the Company terminates your Employment other than for Cause; or 

 

	 	(b)	 you resign from your Employment for Good Reason, 

then, provided that you enter into a settlement agreement and release of claims in favour of the Company, each Group Company and each of their
employees, officers and directors and in a form acceptable to the Company, in lieu of any payments pursuant to Clause 3.4, the Company shall, in addition to any amounts otherwise payable to you (including without limitations any entitlements under
the Company’s 2021 Incentive Award Plan but excluding, for the avoidance of doubt, any payments pursuant to Clause 3.4) and your entitlement to notice in accordance with Clause 3.2 or a payment in lieu of notice in accordance with Clause 3.3,
pay you a severance payment equal to the amount set out below in lump sum payment and on or before the last date of your Employment: 
  

	 	(i)	 18 months’ Basic Salary; 

 

	 	(ii)	 a payment equal to the Annual Bonus which would have been payable to you in the year that your Employment
terminates, reduced pro-rata to reflect the duration of the bonus year in which you remained employed; 

  

	 	(iii)	 a payment equal to the 18 months’ Bonus Target for the bonus year that your Employment terminates; and

  

	 	(iv)	 18 months of Company paid medical coverage. 

 

	3.6	 For the avoidance of doubt, the agreements between you and the Company in respect of the purchase of shares in
Renew Power Private Limited held by you or certain of your affiliates are set out in, and are subject to the terms and conditions of, the registration rights, coordination and put option agreement entered into between, among others, you and the
Company. 

  

	4.	 HOURS OF WORK 

 

	4.1	 Hours of work 

You agree that you shall work normal business hours together with such additional hours as are necessary for the proper performance of your
duties. 

  
 7 

	4.2	 Working Time Regulations 

The duration of your working time is not measured or predetermined. 
  

	5.	 SCOPE OF THE EMPLOYMENT 

 

	5.1	 Duties  

During the Employment you shall: 
  

	 	(a)	 work under the overall supervision and guidance of the Board, which shall be responsible for the key management
and commercial decisions necessary for the conduct of the business of the Company as a whole; 

  

	 	(b)	 undertake and carry out to the best of your ability such duties and exercise such powers in relation to the
Company or Group’s business as may from time to time be assigned to or vested in you by the Board including where those duties require you to work for any Group Company (it being acknowledged that the Board will only assign such duties to you
as are appropriate to your position); 

  

	 	(c)	 in the discharge of those duties and the exercise of those powers observe and comply with all lawful
resolutions, regulations and directions from time to time made by, or under the authority of, the Board and promptly upon request, give a full account to the Board or a person duly authorised by the Board of all matters with which you are involved.
You will provide the information in writing if requested; 

  

	 	(d)	 comply with the Articles of Association (as amended from time to time) of the Company and any Group Company;

  

	 	(e)	 do, or refrain from doing, such things as are necessary or expedient to ensure compliance by you and the
Company and any Group Company with applicable law and regulations including any rules applied by the US Securities Exchange Commission, NYSE or NASDAQ and all other regulatory authorities relevant to the Company and any Group Company, and any codes
of practice issued by the Company and any Group Company (as amended from time to time); 

  

	 	(f)	 act in accordance with all statutory, fiduciary and common law duties that you owe to the Company and any Group
Company; 

  

	 	(g)	 refrain from doing anything which would cause you to be disqualified from acting as a director;

  

	 	(h)	 unless prevented by ill-health, holidays or other unavoidable cause,
devote a substantial amount of your working time, attention and skill to the discharge of your duties in respect of the Company and any Group Company, as may be reasonably required; 

 

	 	(i)	 faithfully and diligently perform your duties and at all times use your best endeavours to promote and protect
the interests of the Company and the Group; and 

  

	 	(j)	 promptly disclose to the Board upon becoming aware, full details of any wrongdoing by you or any other employee
of any Group Company where that wrongdoing in your opinion is material to that employee’s employment by the relevant company or to the interests or reputation of any Group Company. 

 

	5.2	 Directorships and Directors & Officers insurance 

  
 8 

	 	(a)	 You will be required to act as a director of the Company and other Group Companies (either executive or non-executive) as the Board reasonably requires from time to time. The Company reserves the right on giving written notice to you to terminate any office or directorship held by you immediately at any time, if there
is a conflict between your duties to the Company and your role as a director or office bearer of any other organisation. 

  

	 	(b)	 The Company has directors’ and officers’ liability insurance and shall at all times maintain adequate
insurance (not being less than the amount currently in place) for the full term of your appointment as a director or officer of the Company or any Group Company. The Company will provide the directors’ and officers’ liability insurance
policy and the proof of coverage within 10 business days of receiving a request from you. 

  

	5.3	 Right to suspend duties and powers  

 

	 	(a)	 During any notice period, the Company reserves the right in its absolute discretion to suspend all or any of
your duties and powers on terms it considers expedient or to require you to perform only such duties, specific projects or tasks as are assigned to you expressly by the Company (including the duties of another position of equivalent status) in any
case for such period or periods and at such place or places consistent with Clause 4.3 (including, without limitation, your home) as the Company deems necessary, acting reasonably (the “Garden Leave”). During any period of Garden
Leave the terms and conditions set out in this Agreement shall continue to apply to you. 

  

	 	(b)	 The Company may, at its sole discretion, require that during the Garden Leave you shall not:

  

	 	(i)	 enter or attend the premises of the Company or any Group Company; 

 

	 	(ii)	 contact or have any communication with any client or prospective client or supplier of the Company or any Group
Company in relation to the business of the Company or any Group Company; 

  

	 	(iii)	 contact or have any communication with any employee, officer, director, agent or consultant of the Company or
any Group Company in relation to the business of the Company or any Group Company (other than social contact with employees/ directors); 

  

	 	(iv)	 remain or become involved in any aspect of the business of the Company or any Group Company except as required
by such companies; or 

  

	 	(v)	 work either on your own account or on behalf of any other person. 

 

	 	(c)	 During Garden Leave, you will continue to receive your Basic Salary and benefits, accrue bonus, commission or
share of profit and your Share Incentives will continue to vest. 

  

	 	(d)	 For the avoidance of doubt, the Company may exercise its powers under this Clause 5.3 at any time during the
Employment including after notice of termination has been given by either party. 

  

	5.4	 Succession Planning  

  
 9 

 The Board will consult with you in relation to the appointment of any successor to the role
of Chairman, CEO or Managing Director of the Company, prior to the termination of your appointment in those roles. 
  

	6.	 REMUNERATION 

  

	6.1	 Basic Salary 

  

	 	(a)	 During the Employment the Company shall pay you a Basic Salary of not less than INR 57,000,000 per annum. The
Basic Salary shall accrue from day to day and be payable by credit transfer in equal monthly instalments in arrears on or around the last day of each calendar month or otherwise as arranged from time to time. 

 

	 	(b)	 The Basic Salary shall be inclusive of all director’s fees (if any) to which you may become entitled
including all remuneration and director’s fees in respect of services rendered by you to any Group Company. 

  

	 	(c)	 The Company acknowledges that you will be employed by and provide services directly to various Group Companies
and reserves the right to procure that a portion of your remuneration will be paid by any such Group Company to which you are providing services under a separate employment contract with such Group Company. The remuneration payable by the Company
pursuant to this Agreement shall be reduced by the amount of any remuneration which is paid to you by another Group Company. 

  

	6.2	 Salary review 

The Basic Salary shall be reviewed regularly. The Remuneration Committee is not obliged to increase the Basic Salary at any review. 

 

	6.3	 Annual bonus 

You will be eligible to receive an annual bonus from the Company / Group Company for each year of employment subject to the performance
criteria and terms specified by the Remuneration Committee and the terms of any applicable Remuneration Policy in place from time to time (the “Annual Bonus”). Your Annual Bonus for each financial year will be determined in
accordance with the targets specified in Schedule 1. 
  

	6.4	 Share Based Incentives 

In addition to your entitlement to Base Salary and Annual Bonus, you will receive awards under the Company’s 2021 Incentive Award Plan as
detailed in this Clause 6.4 and Schedule 2 to this Agreement. Where the Employment is terminated for whatever reason and whether or not in breach of contract, the Executive shall not be entitled, by way of compensation for loss of office or
employment or otherwise, to any sum or other benefits to compensate him for the loss of any rights under the Company’s 2021 Incentive Award Plan, unless expressly provided for in this Clause 6.4, Schedule 2 or that plan. 

 

	 	(a)	 Grant of Time-Based Options: Stock options (the “Time Based Options”) in respect of
0.80% of the fully diluted outstanding beneficial Shares as of immediately following the Closing shall be granted at the end of the first anniversary following the Closing. Thereafter, stock options in respect of 0.80% of the fully diluted
outstanding beneficial Shares as of immediately following the Closing shall be granted at each of the 2nd, 3rd and 4th anniversary of the Closing, subject to the Participant’s continuous employment with the Company through each such date. For avoidance of doubt, the Time Based Options shall vest in accordance
with the “Vesting Schedule” as set out in the grant notice and stock option agreements set out in Schedule 2 in respect of the Time Based Options once the Time Based Options are granted in accordance with this Clause 6.4(a). Each
such date on which such stock options are granted in accordance with the foregoing shall be deemed to be the “Grant Date” for the purposes of the “Grant Notice” in respect of the relevant stock option. 

 

  
 10 

	 	(b)	 Grant of Performance-Based Options: To the extent 100% of the consolidated EBITDA targets of the
Company, as set out in the Company’s business plan for any applicable financial year as presented to the PIPE investors prior to the Closing (as set out on page [•] of [description of document]), are realized, stock options (the
“Performance Based Options”) in respect of 0.20% of the fully diluted outstanding beneficial Shares as of immediately following the Closing shall be granted within sixty (60) days following the end of such financial
year, subject to the Participant’s employment with the Company through such date of grant. If the consolidated EBITDA target for any financial year is not met, then such grants shall accumulate and the Participant shall be entitled to receive a
full catch up of all such previous ungranted Performance Based Options in the first year when the consolidated EBITDA target for the year is met. If none of the targets are met for the 5 financial years after the Grant Date, then future grants of
the Performance Based Options will be subject to meeting the consolidated EBITDA targets set by the Board. It is clarified that in such an event all the accumulated ungranted Performance Based Options shall then be granted in the first year when the
targets set by the Board are met. For avoidance of doubt, vesting of the Performance Based Options shall not be linked to performance parameters set out above and the Performance Based Options shall vest in accordance with the “Vesting
Schedule” as set out in the grant notice and stock option agreements set out in Schedule 2 in respect of the Performance Based Options once the Performance Based Options are granted in accordance with this Clause 6.4(b). Each such date
on which stock options are granted in accordance with the foregoing shall be deemed to be the “Grant Date” for the purposes of the “Grant Notice” in respect of the relevant stock option. 

 

	6.5	 Corporate Governance 

All payments and/or benefits payable to you are subject to and conditional upon: (i) the terms of applicable law, regulation and
governance codes that regulate or govern executive pay from time to time; and (ii) the consent of the shareholders of the Company (together “Remuneration Governance”). The Company reserves the right to amend, reduce, hold back,
defer, claw back and alter the structure of any payments and benefits payable to you in order to comply with Remuneration Governance. The Company (i) represents and warrants that true, accurate and complete copies of the Company’s board
and shareholder resolutions authorizing the Company to enter into and perform this Agreement have been provided to the Founder Investors and that such resolutions have not been amended, revoked or otherwise withdrawn, and (ii) the Company
undertakes to use its reasonable best efforts to procure, to the extent the Company is not already authorized, such authority as it may require under its articles of association to perform its obligations under this Agreement. 

 

	7.	 EXPENSES 

  

	7.1	 Out-of-pocket expenses

 The Company / Group Company shall reimburse to you (against receipts or other appropriate evidence as the Board may
require) the amount of all out-of-pocket expenses (including traveling expenses) reasonably and properly incurred by you in the proper discharge of your duties hereunder
to the extent that such expenses are incurred in accordance with the Company’s business expenses policy from time to time. 

  
 11 

	8.	 DEDUCTIONS 

You agree that the Company / Group Company may deduct from any sums due to you under this Agreement, any sums due by you to the Company from
Company / Group Company including, without limitation, any debits to your Company credit or charge card not authorised by the Company, your pension contributions (if any), any overpayments, loans or advances made to you by the Company, the cost of
repairing any damage or loss to the Company’s property caused by you, in each case following prior written notice of the sums due and the basis for the proposed deduction. Additionally, the Company / Group Company may withhold or deduct from
any sums due to you under this Agreement any amounts required by applicable law to be withheld or deducted, including in respect of income tax or national insurance contributions. 

 

	9.	 PENSION SCHEME 

 

	9.1	 Pensions arrangements  

During the period of your service with the Company, the Company will comply at all times with the employer duties under Part 1 of the Pensions
Act 2008 to the extent applicable to your employment. 
  

	9.2	 If you notify the Company that you wish to opt-out of the Pension
Scheme, the contributions set out in clause 9.1 above will not be made on your behalf but shall be replaced by a payment from the Company (less any required deductions) equal to 3 per cent of your qualifying earnings. Such payments will accrue
on a daily basis and will be payable to you in arrears in equal monthly instalments at the time of the Company’s usual payroll run. 

  

	10.	 OTHER INSURANCE & BENEFITS 

 

	10.1	 Health Care Scheme 

Without prejudice to the terms of Clauses 3 and 18, you will be eligible to participate in any Health Care Scheme or other benefit plans
generally made available to senior executives of the Company, subject to the following terms and conditions: 
  

	 	(a)	 your and (if applicable) your family’s participation is subject to the Company’s rules regarding
eligibility in force from time to time and the rules, terms and conditions of the relevant Health Care Scheme and/or insurance policy in force from time to time (a copy of each scheme in force at any time shall be available from the Human Resources
Department); 

  

	 	(b)	 the Company reserves the right to terminate your or your family’s or the Company’s participation in
any of the Health Care Scheme(s) provided the Company replaces existing scheme being terminated with a new scheme on terms and conditions no less favourable than the existing scheme (but only if such cover is reasonably available), substitute a new
scheme(s) for an existing scheme(s) and/or alter the level or type of benefits available under any scheme(s); 

  

	 	(c)	 if a scheme provider (e.g. an insurance company or pensions provider) refuses for any reason (whether under its
own interpretation of the rules, terms and conditions of the relevant insurance policy or otherwise) to accept a claim and/or provide the relevant benefit(s) to you (or your family) under the applicable Health Care Scheme, the Company shall not be
liable to provide (or compensate you for the loss of) such benefit(s) nor shall it be obliged to take action against the provider to enforce any rights under the Health Care Scheme; 

  
 12 

	 	(d)	 the fact that the termination of the Employment may result in you or your family ceasing to be eligible to
receive or continue to receive benefits under any Health Care Scheme does not remove the Company’s right to terminate the Employment; and 

  

	 	(e)	 your acceptance of such variations to your terms and conditions of employment as may from time to time be
required by the Company. 

  

	10.2	 Payments 

  

	 	(a)	 All payments under a PHI scheme or the like will be subject to the deductions required by law.

  

	 	(b)	 Where payments are made under a PHI scheme all other payments or benefits provided to or in respect of you will
cease from the start of those payments (if they have not done so already), save that you will continue to accrue statutory and contractual holidays, unless the Company is fully reimbursed by the PHI scheme for the cost of providing the benefit.

  

	10.3	 Medical examinations 

At any reasonable time during the Employment the Company may require you to undergo a medical examination by a medical practitioner appointed
by the Company and at the Company’s expense and you will consent to such examination and to the results being made available to the Company subject to your rights under the Access to Medical Reports Act 1988. 

 

	10.4	 Other leave and benefits 

 

	 	(a)	 You may be eligible for other forms of paid leave, subject to any statutory eligibility requirements or
conditions and the Company’s rules applicable to each type of leave in force from time to time. Further details of such leave are available in the Company’s Staff Handbook. Other forms of paid leave which you may be eligible for, depending
on the circumstances and subject to eligibility criteria including as set out in the Staff Handbook, include paid time off for jury service, statutory maternity leave and pay, statutory adoption leave and pay, shared parental leave and pay, time off
for antenatal or adoption appointments, statutory parental bereavement leave and pay, compassionate leave at the discretion of the Company. The Company may replace, amend or withdraw the Company’s policy on any types of leave at any time.

  

	 	(b)	 You may be eligible to be provided with the following benefits during your employment with the Company, subject
to any rules applicable to the relevant benefit: cycle to work scheme and employee assistance helpline. You may request further details of the benefits for which you may be eligible from the Company’s Human Resources department. The Company may
replace or withdraw such benefits, or amend the terms of such benefits, at any time on reasonable notice to you. 

  

	11.	 HOLIDAYS 

  

	11.1	 The holiday year 

The Company’s holiday year runs from 1st January to 31st December. Holidays can only be taken with the prior permission of the Board. 

 

	11.2	 Annual entitlement 

  
 13 

	 	(a)	 Your annual entitlement to paid holidays is to those public or customary holidays recognised by the Company in
any holiday year (which for you will be dependent on the place of your work) and in addition, 25 contractual days’ holiday. 

  

	 	(b)	 Entitlement to contractual holidays is accrued pro rata throughout the holiday year. You will be entitled to
take public and customary holidays on the days that they are recognised by the Company during the holiday year. 

  

	 	(c)	 You are entitled to carry up to five days’ unused holiday entitlement forward to the next holiday year.

  

	11.3	 Holiday entitlement on termination 

Upon notice of termination of the Employment being served by either party, the Company may require you to take any unused holidays accrued in
the holiday year in which the termination takes place at that time during any notice period. Alternatively, the Company may, at its discretion, on termination of the Employment, make a payment in lieu of accrued contractual holiday entitlement. You
will be required to make a payment to the Company in respect of any holidays taken in excess of your holiday entitlement accrued at the Termination Date. Any sums so due may be deducted from any money owing to you by the Company. 

 

	12.	 TRAINING 

As at the date of this Agreement, you are not required to undertake any particular training. If any particular training is required or offered,
details will be provided. 
  

	13.	 ABSENCE 

  

	13.1	 Absence due to sickness or injury 

If you are absent from work due to sickness or injury you shall: 
  

	 	(a)	 Subject to you being medically able to do so, as soon as possible inform the Company of your sickness or
injury; and 

  

	 	(b)	 In respect of absence due to sickness, injury or accident that continues for more than 7 consecutive days
(including weekends) you must provide the Company with a note of fitness to work stating the reason for the absence. Thereafter notes of fitness to work must be provided to the Company to cover the remainder of the period of continuing sickness
absence. Failure to follow these requirements may result in disciplinary action and loss of Statutory Sick Pay and/or sick pay pursuant to Clause 13.2. 

  

	13.2	 Payment of salary during absence 

 

	 	(a)	 Subject to you complying with the terms of Clause 13.1, the Company shall continue to pay (i) full Basic
Salary and other benefits during any period of absence due to sickness or injury for up to a maximum period of three consecutive months; and (ii) fifty percent. of Basic Salary and other benefits during any further period of absence due to
sickness or injury for up to a maximum period of three further consecutive months, in each case in the same period of 12 consecutive months. Thereafter you will only be eligible for Statutory Sick Pay during any period of sickness absence and
anything additional paid by the Company shall be paid at the Board’s sole discretion. 

  

	 	(b)	 Payment of the Basic Salary in terms of Clause 13.2(a) shall be made less: 

 

	 	(i)	 an amount equivalent to any Statutory Sick Pay paid to you; 

  
 14 

	 	(ii)	 any sums which are received by you under any insurance policy effected by the Company; and

  

	 	(iii)	 any other benefits or sums which you receive e.g. under a PHI or other insurance scheme in terms of the
Employment or under any relevant legislation 

  

	 	(c)	 Once payment of Basic Salary under Clause 13.2(a) ceases, then you shall have no right to any benefit or
emolument from the Company except any permanent health insurance benefit in accordance with Clause 10 or any remaining entitlement to Statutory Sick Pay. 

  

	14.	 OTHER INTERESTS 

 

	14.1	 Disclosure of other interests 

You shall disclose to the Board any interest of your own (or that of your partner or of any child of yours or of your partner under eighteen
years of age): 
  

	 	(a)	 in any trade, business or occupation whatsoever which is in any way similar to any of those in which the
Company or any Group Company is involved; and 

  

	 	(b)	 in any trade, business or occupation carried on by any supplier or customer of the Company or any Group Company
whether or not such trade, business or occupation is conducted for profit or gain. 

  

	14.2	 Restrictions on other activities and interests 

 

	 	(a)	 During the Employment you shall not at any time, without the prior written consent of the Board, either alone
or jointly with any other person, carry on or be directly or indirectly employed, engaged, concerned or interested in any business, prospective business or undertaking other than a Group Company. Nothing contained in this Clause shall preclude you
from: (i) continuing to hold your Existing Investments; (ii) being a Minority Holder; or (iii) subject to Clause 14.2(b) being a Minority VC Holder, unless in each case the holding is in a company that is a direct business competitor
of the Company or any Group Company, or could reasonably be expected to create a conflict between your duties to the Company or any Group Company and your interest as an investor of the other company or person. If any of the exclusions in the
preceding sentence could reasonably be considered to apply, you shall seek, and be required to obtain, the prior consent of the Board to the continuation (in the case of the Existing
Investments),2 acquisition or increase of such holding. For the avoidance of doubt, the exceptions set out in sub-clauses (i), (ii) and (iii) apply
only to passive investment holdings in the relevant company or person, and do not apply to you being directly or indirectly employed, engaged or appointed in any capacity (including as a shadow director) by, or being otherwise concerned, interested
or associated with, the relevant company or person. 

  

	 	(b)	 In each rolling 12 month period of the Employment, you shall not, without the prior written consent of the
Board, directly or indirectly (including through nominees, funds or pooled vehicles) make any investment as a Minority VC Holder if the amount of your direct or indirect investment would, when taken together with the amount of any other investment
made directly or indirectly as a Minority VC Holder in the same period, exceed USD 5 million in the aggregate. 

  

 

	2 	 Details of Existing Investments to be provided prior to signing, for review against these conditions.

  
 15 

	 	(c)	 If you, with the consent of the Board, accept any other appointment you must keep the Company accurately
informed of the amount of time you spend working under that appointment. 

  

	15.	 ANTI-BRIBERY AND CORRUPTION POLICY AND PROCEDURES 

 

	15.1	 Prohibition of Corruption 

The Company prohibits Corruption and will not tolerate any involvement or attempted involvement in Corruption by you, the Company or any
executives, employees, agents, associates or any parties in any way associated with the business of the Company or the Group. This prohibition extends to all of the Group’s business dealings and transactions in all countries in which it, its
subsidiaries, its agents and its associates operate. 
  

	15.2	 Compliance with the Anti-Bribery and Corruption Policy 

You must comply with any Anti-Bribery and Corruption Policy that the Company has in place from time to time and must report any instances of
Corruption (including those attempted and/or resisted) and/or corrupt activity involving the Company or any Group Company or any of its officers, employees, agents or associates which you become aware of irrespective of the identity or position of
those alleged to be involved. 
  

	15.3	 Corruption events 

During the Employment you shall not: 
  

	 	(a)	 become involved in bribery whether by offering, promising, giving, agreeing to, soliciting, demanding,
requesting, receiving, or accepting bribes, or behaving corruptly in expectation of a bribe or an advantage; 

  

	 	(b)	 offer any hospitality, gift or gratuity to customers, suppliers or any other person connected with the business
of the Company or the Group with the intention of gaining a business advantage. Any gifts or invitations to hospitality events that you wish to issue which are expected to exceed the value of £100 must be agreed in advance with the Board;

  

	 	(c)	 receive or obtain directly or indirectly any discount, rebate, commission, or gratuity over the value of
£100 or any hospitality or other form of gift known to have a value of over £100 (any of these referred to as a “Gratuity”) as a result of the Employment or any sale or purchase of goods or services effected or other
business transacted (whether or not by you) by or on behalf of the Company or any Group Company and if you (or any person in which you are interested) obtain any Gratuity you must first seek permission from the Board and may be required to account
to the Company for the amount received by you (or a due proportion of the amount received by the person having regard to the extent of your interest therein). 

 

	16.	 CONFIDENTIALITY AND COMPANY DOCUMENTS 

 

	16.1	 Restrictions on disclosure and use of Confidential Information 

You must not either during the Employment (except in the proper performance of your duties) or at any time (without limit) after the
Termination Date: 
  

	 	(a)	 divulge or communicate to any person; 

  
 16 

	 	(b)	 use for your own purposes or for any purposes other than those of the Company or any Group Company; or

  

	 	(c)	 through any failure to exercise due care and diligence, cause any unauthorised disclosure of;

 any Confidential Information. You must at all times use your best endeavours to prevent publication or disclosure of any
Confidential Information. These restrictions shall cease to apply to any information which shall become available to the public generally otherwise than through the default of you. These restrictions shall not apply to any use or disclosure
authorised by the Board or required by law, or any protected disclosure within the meaning of section 43A of the Employment Rights Act 1996. 
  

	16.2	 Protection of Company documents and materials 

All notes, records, lists of customers, suppliers and employees, correspondence, computer and other discs or tapes, data listings, codes, keys
and passwords, designs, drawings and other documents or material whatsoever (whether made or created by you or otherwise and in whatever medium or format) relating to the business of the Company or any Group Company or any of its or their clients
(and any copies of the same): 
  

	 	(a)	 shall be and remain the property of the Company or the relevant Group Company or client; and

  

	 	(b)	 shall be handed over by you to the Company or the relevant Group Company or client on demand by the Company and
in any event on the termination of the Employment; 

 provided that following the termination of the Employment, you shall
be provided with reasonable access to Board Minutes, and the relevant papers comprising the Board packs referred to in those Minutes, and agendas of the Company or any Group Company relating to a period during which you were a director of the
Company or such Group Company to the extent that this is reasonably required by you in connection with any investigation, proceeding or requirements of applicable law regarding your tenure as a director and on condition that that such materials
shall nevertheless remain confidential. 
  

	17.	 INVENTIONS AND OTHER WORKS 

 

	17.1	 Obligation to further interests of the Company 

The Company and you agree that you may make or create Works in the course of and/or during the Employment and agree that in this respect you
are obliged to further the interests of the Company and any Group Company. 
  

	17.2	 Disclosure and ownership of Works 

You must immediately disclose to the Company all Works and all Intellectual Property Rights. Both the Works and all Intellectual Property
Rights will (subject to sections 39 to 43 Patents Act 1977) belong to and be the absolute property of the Company or any other person the Company may nominate. 
  

	17.3	 Protection, registration and vesting of Works 

You shall immediately on request by the Company (whether during or after the Employment) and at the expense of the Company: 

  
 17 

	 	(a)	 apply or join with the Company or any Group Company in applying for any Intellectual Property Rights or other
protection or registration (“Protection”) in the United Kingdom and in any other part of the world for, or in relation to, any Works; 

  

	 	(b)	 execute all instruments and do all things necessary for vesting all Intellectual Property Rights or Protection
when obtained and all right, title and interest to and in the same absolutely and as sole beneficial owner in the Company or such Group Company or other person as the Company may nominate; and 

 

	 	(c)	 sign and execute any documents and do any acts reasonably required by the Company in connection with any
proceedings in respect of any applications and any publication or application for revocation of any Intellectual Property Rights or Protection. 

  

	17.4	 Waiver of rights  

You hereby irrevocably and unconditionally waive all rights under Chapter IV Copyright, Designs and Patents Act 1988 and any other moral rights
which you may have in the Works, in whatever part of the world such rights may be enforceable including: 
  

	 	(a)	 the right conferred by section 77 of that Act to be identified as the author of any such Works; and

  

	 	(b)	 the right conferred by section 80 of that Act not to have any such Works subjected to derogatory treatment.

  

	17.5	 Power of Attorney 

You hereby irrevocably appoint the Company to be your attorney and in your name and on your behalf to execute any such act and to sign all
deeds and documents and generally to use your name for the purpose of giving to the Company the full benefit of this Clause. You agree that, with respect to any third parties, a certificate signed by any duly authorised officer of the Company that
any act or deed or document falls within the authority hereby conferred shall be conclusive evidence that this is the case. 
  

	17.6	 Statutory rights 

Nothing in this Clause 17 shall be construed as restricting the rights of you or the Company under sections 39 to 43 Patents Act 1977. 

 

	18.	 TERMINATION 

  

	18.1	 Termination events 

Notwithstanding the provisions of Clauses 3 and 10, the Company shall be entitled, but not bound, to terminate the Employment with immediate
effect, without payment of compensation, by giving to you notice in writing at any time for Cause 
  

	18.2	 Termination on resignation as director 

If you resign as a director of the Company or any Group Company (otherwise than at the request of the Company), you shall be deemed to have
terminated the Employment with effect from the date of your resignation and the Employment shall terminate at that time, unless the Company agrees with you that the Employment should continue, in which case the Employment may be subject to any terms
and conditions stipulated by the Company in its absolute discretion. 
  

	18.3	 No damages or payment in lieu of notice 

  
 18 

 In the event of the Employment being terminated pursuant to Clause 18.1, you shall not be
entitled to receive any payment in lieu of notice nor make any claim against the Company or any Group Company for damages for loss of office or termination of the Employment. Regardless of this, the termination shall be without prejudice to your
continuing obligations under this Agreement. 
  

	19.	 EVENTS UPON TERMINATION 

 

	19.1	 Obligations upon termination 

Immediately upon the termination of the Employment howsoever arising or immediately at the request of the Board at any time after either the
Company or you have served notice of termination of the Employment, you shall: 
  

	 	(a)	 deliver to the Company all Works, materials within the scope of Clause 16.2 and all other materials and
property including credit or charge cards, mobile telephone, computer equipment, disks and software, passwords, encryption keys or the like, keys, security pass, letters, stationery, documents, files, films, records, reports, plans and papers (in
whatever format including electronic) and all copies thereof used in or relating to the business of the Company or the Group which are in your possession or under your control; 

 

	 	(b)	 resign (without claim for compensation) as a director and from all other offices held by you in the Company or
any Group Company or otherwise by virtue of the Employment. For the avoidance of doubt, such resignations shall be without prejudice to any claims you may have against the Company or any Group Company arising out of the termination of the
Employment; and 

  

	 	(c)	 transfer without payment, to the Company, or as the Company may direct, any shares or other securities held by
you as nominee or trustee for the Company or any Group Company; 

 and should you fail to do so the Company is hereby
irrevocably authorised to appoint some person to sign any documents and/or do all things in your name and on your behalf necessary to give effect thereto. 
  

	20.	 RESTRICTIONS AFTER TERMINATION 

 

	20.1	 Definitions 

Since you are likely to obtain Confidential Information in the course of the Employment and personal knowledge of and influence over suppliers,
customers, clients and employees of the Company and Group Companies, you hereby agree with the Company that in addition to the other terms of this Agreement and without prejudice to the other restrictions imposed upon you by law, you will be bound
by the covenants and undertakings contained in this Clause 20. In this Clause 20, unless the context otherwise requires: 

  
 19 

			
	 “Customer”
	  	means any person to which the Company distributed, sold or supplied Restricted Products or Restricted Services during the Relevant Period and with which, during that period either you, or any employee under your direct (or indirect
through your immediate reports) supervision, had material dealings in the course of the Employment, or about which you had Confidential Information, but always excluding therefrom, any division, branch or office of such person with which you and/or
any such employee had no dealings during that period and about which you had no Confidential Information;
		
	 “Prospective Customer”
	  	means any person with which the Company was actively negotiating during the Relevant Period regarding a material contract for distribution, sale or supply of Restricted Products or Restricted Services and with which during such
period you, or any employee who was under your direct (or indirect through your immediate reports) supervision, had material dealings in the course of the Employment, or about which you had Confidential Information, but always excluding therefrom
any division, branch or office of that person with which you and/or any such employee had no dealings during that period and about which you had no Confidential Information;
		
	 “Relevant Period”
	  	means: (i) where the Employment is continuing, the period of the Employment; and (ii) where the Employment has terminated, the period of 12 months immediately preceding the Termination Date;
		
	 “Restricted Area”
	  	 means:
  

(a)   India; and
  

(b)   any other country in the world where, on the Termination Date, the Company dealt in Restricted
Products or Restricted Services;
  

		
	 “Restricted Employee”
	  	means any person who was a director, employee of the Company who is dealing with a Restricted Product or engaged in Restricted Services at any time within the Relevant Period who by reason of that position and in particular their
seniority or knowledge of Confidential Information or knowledge of or influence over the clients, customers or contacts of the Company is likely to cause damage to the Company if they were to leave the employment of the Company and become employed
by a competitor of the Company;
		
	 “Restricted Period”
	  	means the period commencing on the Termination Date and, subject to the terms of Clause 20.4, continuing for 12 months;
		
	 “Restricted Products”
	  	means any products, equipment or machinery or artificial intelligence technology researched into, developed, manufactured, supplied, marketed, distributed or sold by the Company and with which your duties were materially concerned
or for which either you, or any employee who was under your direct (or indirect through your immediate reports) supervision, were responsible during the Relevant Period or about which you had Confidential Information;
		
	 “Restricted Services”
	  	means any services (including but not limited to technical and product support, technical advice and customer services) researched into, developed or supplied by the Company and with which your duties were materially concerned or
for which either you, or any employee who was under your direct (or indirect through your immediate reports) supervision, were responsible during the Relevant Period or about which you had Confidential
Information;

  
 20 

			
	 “Supplier”
	  	means any supplier, agent, distributor or other person who, during the Relevant Period was in the habit of dealing with the Company and with which, during that period, you, or any employee under your direct (or indirect through your
immediate reports)supervision, had material dealings in the course of the Relevant Period, or about which you had Confidential Information.

  

	20.2	 Restrictive covenants 

Both during the Employment and during the Restricted Period, you will not, without the prior written consent of the Company, whether by
yourself, through your employees or agents and whether on your own behalf or on behalf of any person, directly or indirectly: 
  

	 	(a)	 so as to compete with the Company solicit business from any Customer or Prospective Customer in respect of
Restricted Products or Restricted Services; 

  

	 	(b)	 so as to compete with the Company, accept any orders from, act or have any business dealings with, any Customer
or Prospective Customer in respect of Restricted Products or Restricted Services; 

  

	 	(c)	 within the Restricted Area, be employed or engaged in or provide Confidential Information to that part of a
business which is involved in Restricted Products or Restricted Services, if the business is or seeks to be in competition with the Company. For the purposes of this sub-clause, acts done by you outside the
Restricted Area shall nonetheless be deemed to be done within the Restricted Area where their primary purpose is to distribute, sell, supply or otherwise deal with Restricted Products or Restricted Services in the Restricted Area to a material
extent; 

  

	 	(d)	 solicit or induce any person who is a Restricted Employee (and with whom you had dealings during the Relevant
Period) to cease working for or providing services to the Company, whether or not any such person would thereby commit a breach of contract; 

  

	 	(e)	 employ or otherwise engage any Restricted Employee in the business of Restricted Products or Restricted
Services if that business is, or seeks to be, in competition with the Company; or 

  

	 	(f)	 solicit or induce any Supplier to cease to deal with the Company and shall not interfere in any way with any
relationship between a Supplier and the Company. 

  

	20.3	 Application of restrictive covenants to other Group Companies 

Clause 20.2 shall also apply as though references to the “Company” in Clauses 20.1 and 20.2 include references to each Group Company
in relation to which you have in the course of the Employment or by reason of rendering services to or holding office in such Group Company: 
  

	 	(a)	 acquired knowledge of its product, services, trade secrets or Confidential Information; or

  

	 	(b)	 had dealings with, or Confidential Information about, its Customers or Prospective Customers in your capacity
as an employee of the Company; or 

  

	 	(c)	 supervised directly (or indirectly through your immediate reports) employees having dealings with its Customers
or Prospective Customers in their capacity as employees of the Company; 

  
 21 

 but so that references to the “Company” shall for this purpose be deemed to
be references to the relevant Group Company. The obligations undertaken by you pursuant to this Clause 20.3 shall, with respect to each Group Company, constitute a separate and distinct covenant in favour of and for the benefit of each Group Company
and which shall be enforceable either by the particular Group Company or by the Company on behalf of the Group Company and the invalidity or unenforceability of any such covenant shall not affect the validity or enforceability of the covenants in
favour of any other Group Company. 
  

	20.4	 Effect of suspension on Restricted Period 

If the Company exercises its right to suspend your duties and powers under Clause 5.3 after notice of termination of the Employment has been
given, the aggregate of the period of the suspension and the Restricted Period shall not exceed 12 months and if the aggregate of the two periods would exceed 12 months, the Restricted Period shall be reduced accordingly. 

 

	20.5	 Further undertakings 

You hereby undertake to the Company that you will not at any time: 
  

	 	(a)	 during the Employment or after the Termination Date engage in any trade or business or be associated with any
person (except the Company or any Group Company or any person to which the Company or the Group Company has authorised the usage of the trading names of the Company or any Group Company) engaged in any trade or business using any trading names used
by the Company or any Group Company including the name(s) or incorporating the word(s) “ReNew”; 

  

	 	(b)	 after the Termination Date represent or otherwise indicate any association or connection with the Company or
any Group Company, other than as a shareholder. 

  

	20.6	 Protection of Company reputation  

You undertake that, you will not at any time during the Employment and at any time (without limit) after the Termination Date make or publish
or cause to be made or published to anyone in any circumstances any disparaging remarks concerning the Company or any Group Company or any of its or their respective shareholders, officers, employees or agents. However, this shall not apply to any
protected disclosure by you within the meaning of section 43A of the Employment Rights Act 1996.  
  

	20.7	 Severance 

The restrictions in this Clause 20 (on which you have had the opportunity to take independent advice, as you hereby acknowledge) are separate
and severable restrictions and are considered by the parties to be reasonable in all the circumstances. It is agreed that if any such restrictions, by themselves, or taken together, shall be adjudged to go beyond what is reasonable in all the
circumstances for the protection of the legitimate interests of the Company or a Group Company but would be adjudged reasonable if some part of it were deleted, the relevant restriction or restrictions shall apply with such deletion(s) as may be
necessary to make it or them valid and enforceable. 
  

	21.	 RECONSTRUCTION AND AMALGAMATIONS 

Subject to Clause 3.5, if the Company undergoes any process of reconstruction or amalgamation (whether or not involving the liquidation of the
Company) and you are offered employment by the successor or proposed successor to the Company or any Group Companies on terms not materially less favourable overall to those under this Agreement whether as to duties, responsibilities, remuneration
or otherwise and you do not accept the offer within one month of it being made, then you shall have no claim against the Company or the successor to the Company in respect of termination of this Agreement and the Employment. 

  
 22 

	22.	 DISCIPLINARY AND GRIEVANCE PROCEDURE 

 

	22.1	 Disciplinary procedures 

Any disciplinary action taken in connection with the Employment will usually be taken in accordance with the Company’s normal disciplinary
procedures (which are workplace rules and not contractually binding) a copy of which is available from the Staff Handbook. 
  

	22.2	 Grievance procedure 

If you wish to obtain redress of any grievance relating to the Employment or you are dissatisfied with any reprimand, suspension or other
disciplinary step taken by the Company, you shall apply in writing to a senior independent director, setting out the nature and details of any such grievance or dissatisfaction. 

 

	23.	 GENERAL 

  

	23.1	 Provisions which survive termination 

Any provision of this Agreement that is expressed or intended to have effect on, or to continue in force after, the termination of this
Agreement shall have such effect, or, as the case may be, continue in force, after such termination. 
  

	23.2	 No collective agreements 

There are no collective agreements that directly affect the terms and conditions of the Employment. 

 

	23.3	 Compliance with rules of law and the Market Abuse Regulations  

During the Employment and at all times whilst you remain a director of the Company and any Group Company, you shall comply in all respects with
every rule of law, code of best practice (including, as appropriate the Market Abuse Regulations (as amended and/or replaced from time to time)) and any regulations or rules made by the Board from time to time. 

 

	24.	 DATA PROTECTION AND PRIVACY 

 

	24.1	 Data Protection 

The Company will hold, collect and otherwise process certain personal data as set out in the Company’s privacy notice, which is on the
intranet. All personal data will be treated in accordance with applicable data protection laws and regulations. 
  

	25.	 AMENDMENTS, WAIVERS AND REMEDIES 

 

	25.1	 Amendments 

No amendment or variation of this Agreement or any of the documents referred to in it (other than an alteration in the Basic Salary) shall be
effective unless it is in writing and signed by or on behalf of each of the parties. 
  

	25.2	 Waivers and remedies cumulative 

 

	 	(a)	 The rights of each party under this Agreement: 

  
 23 

	 	(i)	 may be exercised as often as necessary; 

 

	 	(ii)	 are cumulative and not exclusive of its rights under the general law; and 

 

	 	(iii)	 may be waived only in writing and specifically. 

 

	 	(b)	 Delay in exercising or non-exercise of any right is not a waiver of
that right. 

  

	 	(c)	 Any right of rescission conferred upon the Company by this Agreement shall be in addition to and without
prejudice to all other rights and remedies available to it. 

  

	26.	 ENTIRE AGREEMENT 

 

	 	(a)	 This Agreement and the documents referred to in it constitute the entire agreement and understanding of the
parties and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between the parties, whether written or oral, relating to the subject matter of this Agreement. 

 

	 	(b)	 Each party acknowledges that in entering into this Agreement it does not rely on, and shall have no remedies in
respect of, any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement. 

  

	 	(c)	 Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent
misstatement based on any statement in this Agreement. 

  

	 	(d)	 Nothing in this Clause shall limit or exclude any liability for fraud. 

 

	27.	 NO OUTSTANDING CLAIMS 

You hereby acknowledge that you have no outstanding claims of any kind against the Company or any Group Company (other than in respect of
remuneration and expenses due to the date of this Agreement but not yet paid). 
  

	28.	 SEVERANCE 

If any provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect: 

 

	 	(a)	 the legality, validity or enforceability in that jurisdiction of any other provisions of this Agreement; or

  

	 	(b)	 the legality, validity or enforceability in any other jurisdiction of that or any other provision of this
Agreement. 

  

	29.	 NOTICE 

  

	29.1	 Notices and deemed receipt 

Any notice hereunder shall be given by either party to the other either personally to you or the Company Secretary (as appropriate) or sent in
the case of the Company, to its registered office for the time being and, in the case of you, to your address last known to the Company. Any such notice shall be in writing and shall be given by letter delivered by hand or sent by first class
prepaid recorded delivery or registered post or by facsimile transmission. Any such notice shall be deemed to have been received: 
  

	 	(a)	 if delivered personally, at the time of delivery; 

  
 24 

	 	(b)	 in the case of pre-paid recorded delivery or registered post, 48 hours
from the date of posting; and 

  

	 	(c)	 in the case of registered airmail, five days from the date of posting; and 

 

	 	(d)	 in the case of fax or email, at the time of transmission; 

provided that if deemed receipt occurs before 9am on a business day the notice shall be deemed to have been received at 9am on that day and if
deemed receipt occurs after 5pm on a business day, or on a day which is not a business day, the notice shall be deemed to have been received at 9am on the next business day. For the purpose of this Clause, “business day” means any day
which is not a Saturday, a Sunday or a public holiday in the place at or to which the notice is left or sent. 
  

	29.2	 Electronic service 

For the avoidance of doubt, notice given under this Agreement shall be validly served if sent by email. 

 

	30.	 GOVERNING LAW AND JURISDICTION 

 

	30.1	 Governing law 

This Agreement is governed by and to be construed in accordance with English law. 

 

	30.2	 Jurisdiction 

Each party hereby submits to the exclusive jurisdiction of the English courts as regards any claim, dispute or matter arising out of or in
connection with this Agreement and its implementation and effect. The parties may agree that any dispute, claim, difference or controversy arising out of, relating to or having any connection with this Agreement (save in so far as it relates to any
intellectual property rights), may be referred to and finally resolved by arbitration under the LCIA Arbitration Rules (the “Rules”) in which case the seat (legal place) of arbitration shall be London, England and the language to be used
in the arbitral proceedings shall be English. 

  
 25 

 Schedule 1 – Bonus Terms for Financial Year 

 

	1.	 For the financial year ending 31 March 2022 and each subsequent financial year thereafter, the CEO will be
eligible to receive an Annual Bonus calculated in accordance with this Schedule 1. 

  

	2.	 Subject to meeting the performance targets outlined in this Schedule, the CEO will be eligible for a total
Annual Bonus as follows: 

  

	 	a.	 Bonus Target: INR 45,000,000; 

 

	 	b.	 Maximum Bonus Target: INR 57,000,000. 

 

	3.	 The Annual Bonus will be measured 90% against financial targets as described below and 10% based on non-financial criteria objectives proposed and agreed by the Board. 

  

	4.	 90% of the Bonus Target (the “Financial Bonus”) or 90% of the Maximum Bonus Target (the
“Maximum Financial Bonus”) will be determined as follows: 

  

	5.	 The Budget EBITDA for each financial year will be determined by the Board annually. 

 

			
	Financial performance	  	Financial bonus payable
		
	80% or less of Budget EBITDA	  	No financial bonus
		
	More than 80% but less than 100% of Budget EBITDA	  	 Pro rata Financial Bonus payable linear between 80% and 100% Budget EBITDA based on the following formula:

 
 Financial Bonus Payable = (Achieved EBITDA/ Budget EBITDA) * Financial
Bonus

		
	100% Budget EBITDA	  	Financial Bonus
		
	More than 100% but less than 110% of Budget EBITDA	  	 Pro rata Maximum Financial Bonus payable linear between 100% and 110% Budget EBITDA based on the following formula:

 
 Financial Bonus Payable = (Achieved EBITDA/ 110% of Budget EBITDA) * Maximum
Financial Bonus

		
	110% or more of Budget EBITDA	  	Maximum Financial Bonus

  

	6.	 The Board will provide details of the Budget EBITDA, prior to commencement of Employment.

  
 26 

 Schedule 2— CEO 2021 Incentive Award Plan Grant Agreements 

[Form of CEO Time Based and Performance Based Subsequent Option Agreements to be appended] 

  
 27 

 Schedule 3— Existing Investments 

[Executive to provide] 

  
 28 

 IN WITNESS of which this Agreement has been executed and delivered as a deed on the
first date written above. 
  

					
	 EXECUTED as a Deed
	 	  
	 	
	 By RENEW ENERGY
	 		 	
	 GLOBAL PLC
	 		 	
	 Director acting by _____________
	 		 	
			
	 Witness’s
	 		 	
			
	 Signature:
	 	  
	 	
			
	 Full Name:
	 	  
	 	
			
	 Address:
	 	  
	 	
			
	 EXECUTED as a Deed
	 		 	
	 By SUMANT SINHA
                                        
                                         
                                       
	 	
	 in the presence of:
	 	
			
	 Witness’s
	 		 	
			
	 Signature:
	 	  
	 	
			
	 Full Name:
	 	  
	 	
			
	 Address:
	 	  
	 	
			
		 	  
	 	
			
		 	  
	 	

  
 29

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]