Investor Presentaiton

Transfer of shares In case of transfer of shares between a resident buyer and a non- resident seller or vice-versa, not more than twenty five per cent of the total consideration can be paid by the buyer on a deferred basis within a period not exceeding eighteen months from the date of the transfer agreement. For this purpose, an escrow arrangement may be made between the buyer and the seller for an amount not >25% of the total consideration for a period not exceeding 18 months from the date of the transfer agreement. The total consideration finally paid for the shares must be compliant with the applicable pricing guidelines. 69 68

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