Investor Presentaiton

GEOD Sales Update 990 GE The Company's Board of Directors on 24th Jan 2022, approved to sell (subject to Shareholder's approval) its Global Engineering Operations Division (GEOD) to M/s GE India Industrial Private Limited, together with the assets, manpower and its corresponding liabilities, on a slump sale basis. • A lump sum consideration of Rs. 1,406 million subject to customary completion date adjustments in accordance with the provisions of the business transfer agreement. • • Business Transfer Agreement with GE India Industrial Private Limited executed on 31st January 2022 Remote e-voting period has commenced on Wednesday, February 2, 2022 at 9:00 a.m. (IST) and end on Thursday, March 3, 2022 at 5:00 p.m. (IST) when remote e-voting will be blocked, and voting shall not be allowed beyond said time. The results of postal ballot will be announced on or before 5:00 p.m. on Saturday, March 5, 2022 Expected date of completion of sale is March 31, 2022, subject to satisfaction of identified conditions precedents and approval of shareholders of the Company for the related party transaction. 9

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