AXISCADES TECHNOLOGIES LIMITED — Capital/Financing Update 2023

Aug 22, 2023

==> picture [147 x 33] intentionally omitted <==

August 22, 2023

The Manager Listing Department BSE Limited Phirozee Jeejeebhoy Tower, Dalal Street Mumbai 400 001 BSE Scrip Code: 532395

The Manager Listing Department The National Stock Exchange of India Limited Exchange Plaza, 5 Floor, Plot C/1, G Block Bandra – Kurla Complex, Bandra(E), Mumbai 400 051 NSE Symbol: AXISCADES

Dear Sir,

Sub: Press Release – AXISCADES Strengthens Global Automotive Footprint through Acquisition of add-solution GmbH

With reference to the captioned subject, please find enclosed Press Release titled AXISCADES Strengthens Global Automotive Footprint through Acquisition of add-solution GmbH.

This is for your information and necessary records.

Yours faithfully,

For AXISCADES Technologies Limited

Digitally signed SONAL by SONAL KISHORE KISHORE DUDANI Date: DUDANI 2023.08.22 17:09:40 +05'30'

Sonal Dudani Company Secretary & Compliance Officer

Encl.: A/a

AXISCADES Technologies Limited

(Formerly AXISCADES Engineering Technologies Limited)

CIN No.: L72200KA1990PLC084435

Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 60024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com

==> picture [111 x 34] intentionally omitted <==

PRESS RELEASE

AXISCADES Strengthens Global Automotive Footprint through Acquisition of add-solution GmbH

Bengaluru, August 22, 2023: AXISCADES Technologies Ltd . [AXISCADES (BSE: 532395 | NSE: AXISCADES], a leading end-to-end engineering and technology solutions provider, announced today that it has completed the acquisition of add-solution GmbH, a German company specializing in automotive design and development with deep domain expertise in services such as Electrical Distribution System engineering, testing and software development, wiring systems, component engineering, and automation for global automotive OEMs. add-solution comes with deep entrenched relationships with the world’s largest Automotive OEM’s and Tier 1’s built over years of excellent delivery and differentiated competencies.

With this transaction, AXISCADES has strengthened its position in the automotive vertical and enhanced its presence in Germany, one of the biggest automotive markets in the world.

Mr. Arun Krishnamurthi, CEO and MD of AXISCADES Technologies Limited, commenting on the strategic benefits of the acquisition said, “Over the past few years, we have acquired businesses that have helped us expand into new segments and grow our market share. The acquisition of add-solution is another such move that will help us achieve our long-term vision of being the world’s leading engineering solutions provider. This acquisition provides us with a strategic foothold in the automotive space, with significant offshoring opportunities and access to marquee global automotive OEMs. This advantage extends its relevance to both established legacy OEMs and emerging players in the electric vehicle (EV) domain since add-solution boasts a commendable track record in this domain of over 2 decades. We are confident that we can harness our combined proficiencies to further strengthen our global capabilities and scale up our operations.”

Commenting on the acquisition Mr. Bernd Schober and Mr. Alexander Kellersman, founders of add-solution GmbH said, “add-solution is a perfect complement to AXISCADES’ portfolio, and with the resulting synergies we unlock diversified opportunities across the globe and foresee significant upside to both revenue and margins. We are excited to enter into this new phase with AXISCADES and embark on the journey of innovation together."

Through this acquisition, AXISCADES is poised to solidify its global leadership in engineering & technology solutions in automotive, reinforcing its commitment to drive advancements in the industry and delivering exceptional value to stakeholders.

==> picture [111 x 34] intentionally omitted <==

About AXISCADES Technologies Ltd.

AXISCADES is a leading, end to end technology and engineering solutions provider aiding creation of innovative, sustainable and safer products worldwide. Headquartered in Bangalore with subsidiaries in USA, UK, Canada, Germany, India and China; and offices in Germany, France, Denmark, USA and Canada.

AXISCADES has a diverse team of over 3,000 professionals working across 17 locations across North America, Europe, UK and Asia-Pacific, striving to reduce the program risk and time to market. The company offers Product Engineering Solutions across Embedded Software and Hardware, Digitisation and Automation, Mechanical Engineering, System Integration, Test Solutions, Manufacturing Engineering, Technical Publications, and Aftermarket Solutions.

The solutions comprehensive portfolio covers the complete product development lifecycle from concept evaluation to manufacturing support and certification for Fortune 500 Companies in the Aerospace, Defence, Heavy Engineering, Automotive, Medical Devices & Industrial Product industries. The company is known for its robust system of certifications and best practices that address customer requirements and domain expertise.

More information: www.axiscades.com | LinkedIn: https://www.linkedin.com/company/axiscades/

About add-solution GmbH:

Since it was founded in 2001, add-solution is in the business of automotive design, development and testing, incorporated in Wolfsburg, Germany in November 2001. They specialize in services such as wiring systems, software testing and automation for Global Automotive OEMs. The company is a reliable partner in the development, testing and trial of both constructions and vehicle electrical system and system developments. The Company recorded sales revenue of Euro 8.2 Mn in financial year 2022.

More information: https://www.add-solution.de/ | LinkedIn: https://www.linkedin.com/company/add-solution-gmbh

==> picture [111 x 34] intentionally omitted <==

For further Queries please contact (Investor/Media)

Shishir Gahoi,	Nachiket Kale / Rajesh Agrawal Orient Capital Tel : +91 9920940808 / +91 9967491495 Email :nachiket.kale@linkintime.co.in rajesh.agrawal@linkintime.co.in
AXISCADES Technologies Ltd.
(Formerly AXISCADES Engineering
Technologies Ltd)
Kirloskar Business Park, Block ‘C’, 2nd Floor,
Hebbal, Bangalore – 560 024, India
Tel: +91 80 4193 9000
Email :shishir.gahoi@axiscades.in
Investor.relations@axiscades.in
AXISCADES Technologies Ltd.	Branding Edge Strategic Communication and Advisory LLP Pooja Chetri +91 9819763019 pooja@brandingedgestrategies.com
Akash Nejjur
+91 80 41939000
akash.nejjur@axiscades.com

Safe Harbor

Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labor relations. AXISCADES Engineering Technologies Ltd. (AXISCADES) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. End of Document

-- End of Document --