BLACK BOX LIMITED — Capital/Financing Update 2024

Aug 2, 2024

Telephone: +91 22 6661 7272 | Email: info.india@blackbox.com

BBOX/SD/SE/2024/48

August 2, 2024

To,

Corporate Relationship Department Corporate Relationship Department Bombay Stock Exchange Limited The National Stock Exchange of India Limited P.J. Tower, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mumbai 400001 Bandra East, Mumbai 400051

Sub: Press Release in connection with raising of funds through Preferential Issue of convertible warrants.

Ref.: Scrip code: BSE: 500463/NSE: BBOX

Dear Sir/Madam,

Please find attached herewith the Press release in connection with raising of funds through Preferential Issue of convertible warrants.

This is for your information, record and necessary dissemination to all the stakeholders.

Yours Faithfully, For Black Box Limited

ADITYA Digitally signed by ADITYA GOSWAMI GOSWAMI Date: 2024.08.02 11:00:25 +05'30' Aditya Goswami Company Secretary & Compliance Officer

Encl.: A/a.

BLACK BOX LIMITED

Registered Office: 501, 5th Floor, Building No. 9, Airoli Knowledge Park, MIDC Industrial Area, Airoli, Navi Mumbai 400 708, India BLACKBOX.COM | CIN: L32200MH1986PLC040652 | Tel: +91 22 6661 7272

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Black Box Limited secures Rs. 410 Crores in funding to drive growth and expansion in digital infrastructure sector

Mumbai, August 2, 2024 - Black Box Limited (BSE: 500463/NSE: BBOX), a premier trusted global digital infrastructure solu�on integrator delivering cu�ng-edge technology solu�ons and worldclass consul�ng services to businesses around the globe, announced that it has received commitment for raising of funds aggrega�ng to Rs. 410 crores via preferen�al issue aimed at accelera�ng growth and expansion in digital infrastructure sector.

The Board of Directors, in its mee�ng held today, approved the issuance in one or more tranches, 98,32,123 fully conver�ble warrants, at a price of Rs. 417/- (Rupees Four Hundred and Seventeen Only) per warrant, aggrega�ng to Rs. 410 crores (Rupees Four Hundred and Ten Crores Only) and each Warrants is conver�ble into 1 (One) equity share of face value of Rs. 2/- (Rupees Two Only) each fully paid-up (“Equity Share”) of the Company at a premium of Rs. 415/- (Rupees Four Hundred and Fi�een Only) at the op�on of Proposed Allo�ee, in one or more tranches, at any �me within 18 (Eighteen) months from the date of allotment of the Warrants in accordance with relevant provisions of SEBI ICDR Regula�ons.

The funding round has garnered Rs. 200 crores from the exis�ng promoters of the company, which shows the con�nued confidence on the business and its growth plans, Rs. 200 crores from the consor�um of marquee investors comprises of foreign ins�tu�onal investors & high-net-worth individuals and Rs. 10 crores by key management personnel of the company. A�er the conversion of warrants into equity, promoter shareholding will be marginally lower from exis�ng 71.1% to 69.8%. Black Box con�nues to be Essar’s key investment in the technology space.

Over the last couple of years, the company has focused on improving margins by taking several cost ra�onalisa�on ini�a�ves and emphasis on enhancing the produc�vity. This has yielded posi�ve outcomes leading to an increase in our EBITDA margins and Profit a�er Tax (PAT). We had achieved EBITDA of Rs. 428 crores in FY24, growth of 59% on FY23 EBITDA and PAT of Rs. 138 crores in FY24 which is 5.8x on FY23 PAT. We expect con�nued growth momentum on EBITDA and PAT in current financial year too.

The fund raise capital is a growth capital for the Company and will be invested across several key areas:

• Expansion of Data Centre Build Capabili�es: Data Centre capacity is expected to grow exponen�ally over the next 3-5 years fuelled by adop�on of Cloud and AI. Black Box has strong presence in this segment and would invest in the value chain to be a dominant player providing expanded services to Hyperscalers, Mul�-Tenant Data Centre operators and Large Enterprise Data Centre.

• Advancement in Network Infrastructure: Black Box will deploy capital to expand its Solu�ons por�olio for its enterprise customers and Data Centre operators including Hyperscalers in the areas of Connec�vity Infrastructure and Networking that will be cri�cal to support increasing data traffic and demands of be�er user experience at the edge.

• Innova�on and Delivery: A por�on of the funds will be allocated to innova�on and development efforts aimed at pioneering new digital infrastructure solu�ons, including advancements in cloud compu�ng infrastructure, cybersecurity, ar�ficial intelligence and IoT.

• Go To Market Expansion: The investment will support the company’s strategic expansion and growth ini�a�ves into key Industry Ver�cals with relevant technology solu�ons with key

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leadership hiring and expanding its sales and business development efforts significantly both in north America and emerging markets.

Mr. Sanjeev Verma, Chief Execu�ve Officer of Black Box Limited stated , “We are thrilled to have secured this capital, which will enable us to embark on an ambi�ous growth trajectory and enhance our digital infrastructure offerings and drive innova�on in a rapidly evolving market.”

Mr. Deepak Bansal, Chief Financial Officer of Black Box Limited stated , “thankful to the exis�ng investors for con�nued confidence and welcoming new investors as we embark on next phase of growth and profitability. The company remains commi�ed to invest in the areas of growth and maintain sharp focus on opera�onal efficiency and return on capital.”

About Black Box Limited:

Black Box Limited is global digital infrastructure integrator delivering network and system integra�on services and solu�ons, support services and technology products to businesses in the United States, Europe, India, Asia Pacific, Middle East, La�n America and has around 4,000 professionals globally. Black Box has strong service offerings in the areas of network integra�on, digital connec�vity infrastructure, data centre build out, modern workplace and cybersecurity for businesses across various industries including financial services, technology, healthcare, retail, public services like airports etc., manufacturing and other sectors.

Safe Harbor Statement:

Statements in this document rela�ng to future status, events, or circumstances, including but not limited to statements about plans and objec�ves, the progress and results of research and development, poten�al project characteris�cs, project poten�al and target dates for project related issues are forward-looking statements based on es�mates and the an�cipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertain�es and are not necessarily predic�ve of future results. Actual results may differ materially from those an�cipated in the forward-looking statements. The company assumes no obliga�on to update forward-looking statements to reflect actual results changed assump�ons or other factors.

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For further informa�on, please contact

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