Aarvi Encon Limited — Capital/Financing Update 2021

Jan 15, 2021

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AEL/NSE/2020-21/46

Date: January 15, 2021

To,

National Stock Exchange of India Limited

Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051

Kind Attention: Head – Listing Symbol: AARVI

Sub: Aarvi Encon enters into Strategic Alliance – A Joint Venture in Oman to expand market share in Middle East.

Dear Sir/Madam,

Please find enclosed a copy of the press release that is being issued by the Company, today in connection with the above.

We request you to take note of the same.

Thanking You.

Yours Faithfully,

For Aarvi Encon Limited

Jay Harish Digitally signed by Jay Harish Shah Shah Date: 2021.01.15 17:57:28 +05'30'

Jay H. Shah Company Secretary Membership No.: A45556

PRESS RELEASE

“AARVI ENCON ENTERS INTO STRATEGIC ALLIANCE - A JOINT VENTURE IN OMAN TO EXPAND MARKET SHARE IN MIDDLE EAST”

Muscat, Sultanate of Oman, January 15[th] , 2021:

Aarvi Encon Limited (Aarvi) has a nnounced its further expansion in middle east by incorporating a new entity in the Sultanate of Oman under the name of “Aarvi Encon LLC” t h rough its wholly owned subsidiary Company i.e A arvi Encon FZE located in the United Arab Emirates, to market and provide Aarvi’s services i n the high growth middle east market to pr o vide manpower deputation and operation and m aintenance services across middle east.

In the said joint venture arrang e ment, Aarvi Encon FZE would own 70 percent controlling stake and the local owner at Oman w o uld own the balance 30 percent minority stak e .

The partnership will enhance r e venue generation on a consolidated basis as w ell as will play a key role in increasing Aarvi’s market share in the Middle East by supplying addi t ional manpower and identifying cross selling an d up selling opportunities to deliver profitabl e growth for the company.

Commenting on the joint venture, Mr. Jaydev Sanghavi, Executive Director, Aarvi Encon Ltd. said:

“The Middle East countries i n cluding Oman account for major countries for outsourcing technical manpower especially i n the Oil & Gas Industry, where Aarvi has a str o ng presence and technical knowhow. This joint v enture will provide manpower deputation a n d operation and maintenance services on a shared platform at optimized cost and is a pivotal moment for the company. Strong alliances such as this play a crucial role for Aarvi to increase its market share and increase international pres e nce. By combining our resources we will be a ble to offer our services to more clients in the m iddle east and deliver profitable growth,”

About Aarvi Encon Limited: I n corporated in 1987, Aarvi Encon pioneered the concept of Technical staffing services in India. Aarvi is India’s leading technical staffing company, which specializes in providing expe r t engineering staffing solutions. Services Offered include Deputation of Technical Staffi n g, Project Management, Construction super v ision, Inspection Services, Pre-Commissioning & C ommissioning Assistance and O&M Services. T he company has deployed over 30,000 personn e l since inception and has a current deployed t eam strength of more than 4,000 professionals. It has leveraged its track record in India to su c cessfully expand

its operations internationally, providing a wide range of engineering services on various international projects, particularly in the UAE, and Kingdom of Saudi Arabia. For more information, visit: www.aarviencon.com

Safe Harbor:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

In case of any queries then you may contact on jay.shah@aarviencon.com or info@aarviencon.com