DELTA MANUFACTURING LIMITED — Proxy Solicitation & Information Statement 2021

Sep 16, 2021

16[th] Se p tember, 20 2 1

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Nationa ListingD Exchang Bandra Bandra Fax No. Symbol l Stock Exc epartmen e Plaza, C- Kurla Com (East) Mum 26598235/8 : DELTAM hange of In t. 1, Block- G, plex, bai–400 051 237/8347. AGNT dia Ltd. .	BSE Cor List Phi Dal Fac Scri Ltd., porate Rela ing Departm roze Jeejeeb al Street,M simile No.2 p Code: 50 tion Depar ent, hoy Tower umbai – 40 2723121/2 4286 tment, s, 0 001. 2722037/20 41

Dear Si r /Madam,

Sub: Notice of Extra Ordinary General Meeting of the Company

With regard to th e captioned matter an d in compli a nce with t h e Securities and Exch a nge Boar d of Indi a (Listing O bligations a nd Disclo s ure Requirements) R e gulations, 2 015, we are enclosin g herewith a copy o f Notice of Extra Ordi n ary General Meeting of the Co m pany sche d uled to b e held o n Saturday, 0 9[th] Octobe r , 2021 at 2 . 30 P.M (IS T ) through V ideo Con f erencing ( V C) / Othe r Audio V isual Mea n s (OAVM) .

You ar e requested t o take the s ame on re c ord.

Thanki n g You. Yours S incerely, For Delta Manufacturing Limited (formerly known as Delta Magnets Limited)

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Anannya Godbole Company Secretary ACS No.: 23112 Encl.: A s above

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R egistered O ffice:- B-8 7 , MIDC A m bad, Nas h ik – 42201 0 . CI N No: L32109MH1982 P LC028280 Tel No. 91 - 0253-2382238 Fax No. 91-0253-23 8 2926 Em a il ID : secr e tarial@dmltd.in Web s ite : www. d eltamagne t s.com

Notice i s hereby g i ven that t h e Extra O r dinary Ge n eral Meeti n g (EGM) o f member s of Delta Manuf a cturing Li m ited (form e rly known as Delta Magnets Lim i ted) (the C o mpany) w ill be held on Sat u rday, 09[th] O ctober, 2 0 21 at 2.30 p .m. (IST) t hrough Vi d eo Confer e ncing (V C ) / Other Audio V isual Mea n s (OAVM) to transact the followi n g busines s :

SPECIAL BUSINESS:

To con s ider and if t hought fit, to pass wi t h or witho u t modifica t ion, the fo l lowing Re s olution as a SPECIAL RESOLUTION :

To divest assets of material subsidiary of the Company:

“ RESOLVED tha t pursuant to the p r ovisions o f Regulati o n 24(6) a n d other a pplicable Regula t ions, if an y , of the S e curities a n d Exchange Board of India (Lis t ing Oblig a tions and Disclos u re Requir e ments) Re g ulations, 2 015 ( “the Listing Regulations” ) and pursu a nt to the applica b le provisi o ns of the Companie s Act, 2013 and the R u les, circul a rs and n o tifications issued thereunder ( “the Act” ) (includi n g any st a tutory mo d ifications, amendme n ts or reenactm e nts therei n for the ti m e being i n force), o t her applic a ble laws, t he Memor a ndum of Association of the C ompany and subject t o requisite statutory/ r egulatory a nd other a p propriate approv a ls, if any, a s may be r e quired, co n sent of th e Members b e and is h e reby accor d ed to the Board o f Director s of the Co m pany (he r einafter referred to a s “Board”, which ter m shall be deeme d to include any Co m mittee w h ich the B o ard may h ave const i tuted or h ereinafter constit u te) to div e st assets o f Magdev Limited ( “Magdev” ) , a materi a l subsidi a ry of the Compa n y incorpo r ated in th e United K ingdom, i n cluding M a gdev’s en t ire stake i n Pilamec Limite d ( “Pilamec” ), a wholl y owned s u bsidiary of Magdev, f i xed assets, movable a ssets, raw materials, finished goods and intellectual property r i ghts, to Bu n ting Mag n etics Euro p e Limited (“ Bunting ”) on t h e terms a n d conditi o ns contai n ed in the agreemen t s execute d between Magde v and Bunti n g.

RESOLVED FURTHER THAT the Boa r d of Direc t ors or Chi e f Financial Officer or Company Secreta r y be and a r e hereby s e verally authorised to do all suc h acts, deed s , matters a nd things as may be requir e d to give effect to t h e foregoin g resolutio n , includin g but not l imited to decidin g on the t i ming, ma n ner and e xtent of c a rrying ou t the afore s aid divest m ent, or negotia t ing, finalizing, execut i ng, modif y ing and / o r amendin g any docu m ents or a g reements, by wh a tever nam e called an d to do all acts, matt e rs and thi n gs as may be necess a ry in this regard a nd incide n tal thereto, without be i ng require d to seek a n y further c o nsent or a p proval of the Me m bers and to delegat e all or any of the po w ers or aut h orities he r ein confer r ed to any Directo r (s) or othe r Officer(s) / authorise d represent a tive(s) of t h e Compa n y.

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RESOLVED FURTHER THAT all actio n s taken b y the Boar d in connec t ion with a n y matter referre d to or con t emplated i n any of t h e foregoin g resolutio n s be and a re hereby a pproved, ratified and confir m ed in all r e spects.”

NOTES:

• 1 . The Ex p lanatory S tatement p ursuant to Section 1 0 2 of the Companies A ct, 2013 s e tting out material facts in re s pect of the business s p ecified ab o ve is annexed hereto.

• 2 . In vie w of the ma s sive outbr e ak of the C OVID-19 p andemic, s ocial dista n cing is a n orm to be followe d and pursuant to the Circular N o. 14/2020 dated April 08, 2020, Circular No.17/2020 dated A pril 13, 20 2 0 issued by the Mini s try of Cor p orate Affairs (MCA) f ollowed b y Circular No. 20 / 2020 dated May 05, 2 0 20 and Cir c ular No. 0 2 /2021 dat e d January 1 3, 2021 an d all other relevan t circulars i ssued fro m time to time, physic a l attenda n ce of the m embers to the EGM venue is not requi r ed and ge n eral meet i ng be held through v i deo conferencing (V C ) or other audio v isual means (OAVM). Hence, m e mbers can attend and participate in the ens u ing EGM throug h VC/OAV M .

• Pursua n t to the Circular No. 14/2020 d a ted April 0 8, 2020, is s ued by the MCA, the facility to appoin t proxy to a t tend and c ast vote fo r the memb e rs is not a v ailable for this EGM. However, the Bo d y Corpor a tes are en t itled to a p point auth o rised rep r esentatives to attend the EGM throug h VC/OAV M and par t icipate thereat and c a st their vo t es throug h e-voting. C orporate membe r s are requ i red to sen d , (before e-voting/ a t tending E G M) a duly certified c o py of the Board R esolution a uthorizing their repr e sentative t o attend a n d vote at t h e EGM, p u rsuant to section 1 13 of the C ompanies A ct, 2013 (t h e Act) on t h e e-mail i d secretaria l @dmltd.in.

• 4 . The m e mbers can join the E GM in th e VC/OAV M mode 1 5 minutes before and after the schedu l ed time of t he comme n cement of the Meeting by follo w ing the pr o cedure me n tioned in the Notice. The fa c ility of par t icipation a t the EGM t hrough V C /OAVM w ill be mad e available for 100 0 members on first c o me first s e rved basis . This will not includ e large Sh a reholders (Share h olders hol d ing 2% or m ore share h olding), P r omoters, I n stitutiona l Investors, Directors, Key Managerial P ersonnel, the Chair p ersons of the Audi t Committ e e, Nomin a tion and Remun e ration Co m mittee and Stakehol d ers Relati o nship Co m mittee, A u ditors etc . who are allowe d to attend t h e EGM without restriction on ac c ount of fir s t come firs t served ba s is.

• The att e ndance of t he membe r s attendin g the EGM t hrough V C /OAVM w ill be coun t ed for the purpos e of reckoni n g the quo r um under S ection 103 of the Act.

• 6 . Pursua n t to the provisions o f Section 1 08 of the A ct read w ith Rule 2 0 of the C ompanies (Mana g ement and Administr a tion) Rules, 2014 (as amended) and Regul a tion 44 of Securities and Ex c hange Bo a rd of Indi a (Listing O bligations a nd Disclo s ure Requir e ments) R e gulations, 2015 (a s amended) (Listing R e gulations), and the C i rculars iss u ed by the M CA date d April 08, 2020, A p ril 13, 202 0 and May 05, 2020 th e Compan y is providi n g facility o f remote e -voting to its me m bers in respect of t h e business to be transacted at t h e EGM. F or this pu r pose, the Compa n y has ent e red into a n agreemen t with Nati o nal Securi t ies Deposi t ory Limit e d (NSDL) for facilitating voti n g through electronic m eans, as t h e authoriz e d agency. T he facility of casting

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votes b y a memb e r using re m ote e-voti n g system a s well as v enue voti n g on the d ate of the EGM w ill be provi d ed by NS D L.

• 7 . All the document s referred t o the Noti c e will be a vailable fo r inspectio n in electro n ic mode. Membe r s can insp e ct the sam e by sendin g email to s e cretarial@ d mltd.in.

• In line w ith the M C A Circula r No. 17/20 2 0 dated A p ril 13, 202 0 , the Notic e calling th e EGM has been u p loaded on the websit e of the Co m pany at w w w.delta m agnets.co m . The Noti c e can also be accessed from the websit e s of the S t ock Exchanges i.e. B S E Limited and Nati o nal Stock Exchan g e of India Limited at www.bsei n dia.com a n d www.nseindia.com respective l y and the EGM N otice is al s o availabl e on the w e bsite of NSDL (agen c y for pro v iding the R emote e- Voting f acility) i.e. www.evot i ng.nsdl.co m .

• 9 . In com p liance wit h the aforesaid MCA Circulars a nd SEBI C i rcular dat e d May 12, 2020 and Januar y 15, 2021, Notice of t he EGM is being se n t only th r ough elect r onic mod e to those membe r s whose email addr e sses are r e gistered w i th the Co m pany/ D e positories. Members may n ote that the Not i ce will a lso be a vailable on the C ompany’s website www.deltamagnet s .com, websites of the Stock Exc h anges i.e. B SE Limite d and Nati o nal Stock Exchan g e of India Limited at www.bsei n dia.com a n d www.n s eindia.com respective l y, and on the we b site of NS D L https:// w ww.evoti n g.nsdl.co m

Membe r s are requ e sted to re g ister/upd a te their e- m ail addres s es with th e relevant D epository Partici p ant (DP) (i n case of s h ares held i n demater i alized for m ) or with S hare Tran s fer Agent (STA) ( i n case of s h ares held i n physical f orm) whic h will help u s in prom p t sending o f Notices and ot h er shareholder comm u nications i n electronic form.

1. The Bo a rd of Dire c tors has a p pointed A s hish Jain ( M embershi p No. 6058 and CP N o . 6124) of M/s A. K . Jain & C o. as the S c rutinizer t o scrutiniz e the voting during th e EGM and remote e- voting p rocess in a fair and tr a nsparent m anner.

2. The ve n ue of the m eeting shall be deeme d to be the R egistered O ffice of th e Company .

3. 1 2. Any p e rson holdi n g shares i n physical form and n on-indivi d ual shareh o lders, wh o acquires shares o f the Com p any and b e comes me m ber of the Company a fter the no t ice is sent t hrough e- mail an d holding shares as of the cut-off date i.e. Th u rsday, Se p tember 30, 2021, may o btain the login I D and pass w ord by se n ding a req u est at evo t ing@nsdl.c o .in or Issu e r/RTA. H o wever, if you are already re g istered wi t h NSDL for remote e- v oting, the n you can u se your ex i sting user ID and password for castin g your vot e . If you f o rgot your password, you can r eset your passwo r d by usin g “Forgot User Details / Password ” or “Physi c al User Re s et Passwo r d” option availab l e on www . evoting.ns d l.com or c a ll on toll free no. 1800 1020 990 a nd 1800 2 2 44 30 . In case of Individual Sharehold e rs holding securities i n demat m ode who acquires sh a res of the Compa n y and be c omes a M e mber of t h e Compan y after sen d ing of th e Notice an d holding shares a s of the c u t-off date i . e. Thursday, Septem b er 30, 2021 may follo w steps me n tioned in the Not i ce of the E G M under “ Access to N SDL e-Vo t ing system ” .

4. Since t h e EGM wi l l be held t h rough VC / OAVM, t he Proxy F o rm, Atten d ance Slip a nd Route Map ar e not annex e d to this N otice.

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14. Voting through electronic means:

In co m pliance w i th the pr o visions of Section 1 0 8 of the A ct read w ith the C ompanies (Mana g ement an d Adminis t ration) R u les, 2014 ( including any statu t ory modification(s), clarific a tion(s), e x emption(s ) or re-en a ctment(s) thereof f o r the ti m e being i n force), Regula t ion 44 of t h e Listing R egulations and SS – 2 , the Comp a ny is pro v iding to its members with th e facility to cast their v ote electro n ically (“remote e-Vo t ing”) usin g an electro n ic voting system provided b y Nation a l Securitie s Deposito r y Limited (“NSDL”), on all th e business items s e t forth in t h e Notice o f EGM an d the busin e ss may be t ransacted t hrough su c h remote e-votin g . The in s tructions for remot e e-Votin g explain t he proce s s and m a nner for generating/receiv i ng the password and for castin g of vote(s) in a secur e manner. H owever, the me m bers are r e quested to take note o f the follo w ing items:

THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING AND JOINING EGM ARE AS UNDER:-

The re m ote e-voti n g period b e gins on Tuesday, Oct o ber 5, 2021 at (IST) 09 : 00 A.M. a n d ends on Friday, October 8, 2021 at (I S T) 05:00 P.M. The re m ote e-voti n g module shall be d i sabled by NSDL f or voting t h ereafter. T he membe r s, whose n ames appe a r in the R e gister of M embers / Benefic i al Owners as on the r ecord date (cut-off d a te) i.e. Thursday, Sep t ember 30, 2 021, may cast th e ir vote ele c tronically. The votin g right of s h areholder s shall be i n proporti o n to their share i n the paid-up equity sh a re capital o f the Com p any as on t he cut-off d ate, being T hursday, Septem b er 30, 202 1 .

How do I vote electronically using NSDL e-Voting system? The wa y to vote ele c tronically o n NSDL e- V oting syste m consists o f “Two Step s ” which are mentioned below:

Step 1: Access to NSDL e-Voting system.

A) Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode

In ter m s of SEBI circular d a ted Dece m ber 9, 202 0 on e-Vot i ng facility provided by Listed Compa n ies, Indiv i dual shareholders ho l ding secu r ities in de m at mode are allow e d to vote throug h their de m at accou n t maintai n ed with D epositorie s and De p ository Participants. Shareh o lders are advised to u pdate thei r mobile number and e mail Id in t heir dema t accounts in orde r to access e-Voting fac i lity.

Login m ethod for I ndividual s hareholders holding s e curities in demat mo d e is given b elow:

Typ e of share holders	Login M ethod
Ind hol dem ividual Sh ding sec at modew areholders urities in ith NSDL.	If you ar visit the typing th on a Per of e-Serv e alreadyr e-Services e followin sonal Comp ices is laun egistered fo website of g URL:http uter or on ched, click rNSDL ID NSDL. Op s://eservi a mobile.O on the“Ben eAS facili en web br ces.nsdl.com nce the ho eficial Ow ty, please owser by /either me page ner”icon

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		under “L new scre Passwor see e-Vo Votings Click on service p e-Voting Votingp meeting. If the us register “Registe https:// Visit the typingt either on page ofe which is new scre your six Passwor screen.A to NSDL Click on service p Votingw remotee duringth ogin” whi en will ope d. After suc ting service ervices and options av rovider - N website fo eriod or jo er is notr is availab r Online eservices.ns e-Voting he followin a Personal -Voting sy available en will ope teen digitd d/OTP and fter succes Depositor options av rovider - ebsite of -Voting pe e meeting. ch is availa n. You will cessful aut s. Click on you will ailable agai SDLandy r castingy ining virtua egisteredf le athttp for ID dl.com/Sec website of g URL:h Computer stem is laun under ‘Sh n. You will emat acco a Verific sful authen y site wher ailable agai NSDLand NSDL for riod or joi ble under have to en hentication “Access to be able to nst compan ou will be our voted l meeting or IDeASe s://eservi eAS” Po ureWeb/Id NSDL. Op ttps://www or on a mo ched, click areholder/ have to en unt numbe ation Cod tication, yo ein you can nst compan you will casting yo ning virtua “IDeAS” s ter your Us , you willb e-Voting” see e-Vot y name or re-directed uring ther & votingd -Services, ces.nsdl.com rtal or easDirectR en web br .evoting.n bile. Once on the icon Member’s ter your Us r held with e as show u will ber see e-Vot y name or be redirec ur vote du l meeting ection. A er ID and e able to under e- ing page. e-Voting to NSDL emote e- uring the option to .Select click at eg.jsp owser by sdl.com/ the home “Login” ection. A er ID (i.e. NSDL), n on the edirected ing page. e-Voting ted to e- ring the & voting
Ind hol dem ividual Sh ding sec at modew areholders urities in ith CDSL		Existing login thr available authentic https:// www.cd After suc to see th Voting s your vot If the use is users who ough their to reach ation. The web.cdslind slindia.com cessful log e E Votin ervice pro e. r is not re have opte user id and e-Voting URL for us ia.com/my and clicko in of Easi/E g Menu. T vider i.e. N gistered for avai d for Easi password. pagew ers to login easi/home n New Sys asiest theu he Menuw SDL.Clic Easi/Easie lable / Easiest, Option wil ithout any to Easi /E /loginor tem Myeasi ser will be ill have li k onNSD st, optiont they can l be made further asiest are . also able nks ofe- Lto cast o register at

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		https:// tion Alternati providin in www authentic Email as authentic ESP i.e.N web.cdslind vely, theu g dematA .cdslindia ate the use recorded ation, user SDLwher ia.com/my ser can di ccount Num .com hom r by sendin in the de will be pr e the e-Vot easi/Regis rectly acces ber andP e page. g OTP on mat Accou ovided link ingis inpro tration/Eas s e-Voting AN No. fro The syst registered nt. Afters s for ther gress. iRegistra page by m a link em will Mobile & uccessful espective
Ind (ho dem thr par ividual Sh lding sec at mod ough their ticipants areholders urities in e) login depository		You can account NSDL/C able to se you will successfu feature.C Voting s e-Voting remotee during th also login through yo DSL for e- e e-Voting be redirec l authenti lick on op ervice prov website o -Voting pe e meeting. using thel ur Deposit Voting fac option. On ted to NSD cation, wh tions availa ider-NSDL f NSDL for riod or joi ogin creden ory Particip ility. Once ce you click L/CDSLD erein you ble against and you casting y ning virtua tials of yo ant registe login, yo on e-Votin epository can see companyn will be red our voted l meeting ur demat red with u will be g option, site after e-Voting ame ore- irected to uring the & voting

Important note: M embers w h o are una b le to retri e ve User I D / Passwor d are advi s ed to use Forget U ser ID an d Forget Pa s sword opti o n availabl e at above m entioned w ebsite.

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. NSDL and CDSL.

Log **in type **		H elpdesk d etails
Ind sec NS ividual Sh urities in DL areholders demat mo holding de with		M c e a embersf ontact NS voting@ns nd 1800 22 acing any DL helpde dl.co.in orc 44 30 technical sk by sen all at toll fr issue inl ding a re ee no.: 1800 ogin can quest at 1020 990
Ind sec CD ividual Sh urities in SL areholders demat mo holding de with		M c h 2 embersf ontact CD elpdesk.ev 3058738 or acing any SL helpde oting@cdsl 022-230585 technical sk by sen india.com o 42-43 issue inl ding a re r contact ogin can quest at at 022-

B) Login Method for shareholders other than Individual shareholders holding securities in demat mode and shareholders holding securities in physical mode.

How to Log-in to NSDL e-Voting website?

V i sit the e-V o ting website of NS D L. Open w eb browse r by typin g the follo w ing URL: ht t ps://ww w .evoting.n s dl.com/ ei t her on a P e rsonal Co m puter or o n a mobile.

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On av A Ve Al htt aft vo Yo ce t ailab new rific terna ps://e er us te ele ur U	he hom le und screen ationC tively, service ing you ctronica ser ID e page of er ‘Shareho will open. ode as show if you are s.nsdl.com/ r log-in cre lly. details are e-Voting sy lder/Memb You willh n on the s registered with youre dentials, clic given below stem is lau er’ section ave to ente creen. for NSDL xisting IDE k on e-Votin : nched, clic . r your User eservices AS login.O g and youc k on the ic ID, yourP i.e. IDEAS nce you log an proceed on “Login” assword/O , you can -in to NSD to Step 2 i.e. which is TP and a log-in at L eservices Cast your	he hom le und screen ationC tively, service ing you ctronica ser ID e page of er ‘Shareho will open. ode as show if you are s.nsdl.com/ r log-in cre lly. details are e-Voting sy lder/Memb You willh n on the s registered with youre dentials, clic given below stem is lau er’ section ave to ente creen. for NSDL xisting IDE k on e-Votin : nched, clic . r your User eservices AS login.O g and youc k on the ic ID, yourP i.e. IDEAS nce you log an proceed on “Login” assword/O , you can -in to NSD to Step 2 i.e. which is TP and a log-in at L eservices Cast your
Pa If log If ‘in pa yo Ho If pa NS the las Th If th sswo you in a you itial sswo ur p w to your sswo DL .pd t 8 d e .pd your ose s	Mann (NSD er of hold L or CDSL ing shares ) or Physic i.e. Demat al	Your Use r ID is:
	a) Fo dema r members t accountw who hold ith NSDL. shares in	8 Charac Client ID For exam and Clien ID is IN3 ter DP ID ple if your t ID is 12* 0012* followed b*y DP ID is * theny . 8 Digit IN300 our user
	b) Fo dema r members t accountw who hold ith CDSL. shares in	16 DigitB For exam 12* 12* eneficiary ple if you ** then * ID r Benefici*a your use ry ID is r ID is
	c) Fo Physi r member cal Form. s holding shares in	EVENN Number For exam and EVE 10145600 umberf registeredw ple if foli N is 1014 1 ollowed*b ith the com o number 56 then us y Folio pany is 001*** er ID is

O n ce the ho m e page of e-Voting s y stem is la u nched, cli c k on the i c on “Login ” which is a v ailable un d er ‘Shareh o lder/Mem b er’ section. A new scree n will open. You will h ave to ent e r your Use r ID, your P assword/ O TP and a V e rification C ode as sho w n on the screen. A l ternatively, if you ar e registered for NSD L eservices i.e. IDEA S , you can log-in at ht t ps://eservic e s.nsdl.com/ with your e xisting IDEAS login. O nce you lo g -in to NS D L eservices af t er using yo u r log-in credentials, cli c k on e-Voti n g and you c an proceed to Step 2 i.e . Cast your vote electronic a lly. Y o ur User ID details are given belo w :

P a ssword de t ails for sha r eholders o t her than I n dividual s h areholders are given b elow: If you are al r eady regis t ered for e - Voting, th e n you can user your existing p a ssword to lo g in and cas t your vote.

If you are u s ing NSDL e-Voting s y stem for t h e first ti m e, you wil l need to r e trieve the ‘i n itial pass w ord’ whic h was co m municate d to you. O nce you r etrieve y o ur ‘initial p a ssword’, y o u need to e nter the ‘i n itial passw o rd’ and th e system will force yo u to change y o ur passwo r d. H o w to retri e ve your ‘in i tial passw o rd’? If your emai l ID is regi s tered in y o ur demat a ccount or with the c o mpany, y o ur ‘initial p a ssword’ is communic a ted to yo u on your e mail ID. T r ace the e m ail sent to you from N S DL from y our mailb o x. Open t h e email an d open the attachmen t i.e. a .pdf file. Open th e .pdf file. T he passw o rd to open the .pdf fil e is your 8 d igit client I D for NSD L account, la s t 8 digits o f client ID f or CDSL a c count or fo l io number for shares h eld in phy s ical form. T h e .pdf file c ontains yo u r ‘User ID’ and your ‘ i nitial pass w ord’. If your emai l ID is not registered, please fol l ow steps m entioned b elow in process for those shareholders whose email ids are not registered

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If you are u n able to retr i eve or hav e not received the “ In i tial passw o rd” or hav e forgotten y o ur passwo r d: C l ick on “ Forgot User Details/Password ?”(If you are holding s h ares in y o ur demat account with NSDL or CDSL) optio n available o n www.e v oting.nsdl. c om. Physical User Reset Password ?” (If you ar e holding s h ares in p h ysical mo d e) option a v ailable on w ww.evoti n g.nsdl.co m . If y ou are stil l unable to g et the pas s word by a f oresaid tw o options, y o u can sen d a request at evoting@n s dl.co.in m e ntioning y our demat account n u mber/foli o number, y our PAN, y o ur name a n d your reg i stered add r ess etc. Members ca n also use t h e OTP (O n e Time Password) based login fo r casting the votes on th e e-Voting s ystem of N SDL. A f ter enterin g your pas s word, tick on Agree t o “Terms a nd Condit i ons” by s e lecting on th e check bo x . N o w, you wi l l have to cl i ck on “Lo g in” button. . A f ter you cli c k on the “ L ogin” butt o n, Home p a ge of e-Vo t ing will open. Step 2: Cast your vote electronically and join General Meeting on NSDL e-Voting system. How to cast your vote electronically and join General Meeting on NSDL e-Voting system? 1. After s u ccessful lo g in at Step 1 , you will b e able to s ee all the c o mpanies “ E VEN” in w hich you are hol d ing shares and whose voting cyc l e and Gen e ral Meetin g is in activ e status. 2 . Select “EVEN” of c ompany f o r which y o u wish to cast your v ote during the remot e e-Voting period a nd casting your vote d uring the G eneral Me e ting. For j o ining virt u al meeting, you need to click on “VC/O A VM” link p laced und e r “Join Ge n eral Meeti n g”. 3 . Now y o u are read y for e-Voti n g as the V o ting page o pens. 4 . Cast yo u r vote by s electing a p propriate options i.e. a ssent or di s sent, verif y /modify t h e number of shar e s for whic h you wish t o cast you r vote and c lick on “Submit” and a lso “Confi r m” when prompt e d.

• 5 . Upon c o nfirmatio n , the message “Vote c a st successf u lly” will b e displayed . 6 . You ca n also take the printo u t of the vo t es cast by you by cli c king on th e print opt i on on the confir m ation page.

• 7 . Once y o u confirm y our vote o n the resol u tion, you w ill not be a l lowed to m odify your vote.

General Guidelines for shareholders 1 . Institut i onal share h olders (i. e . other th a n individ u als, HUF, NRI etc.) a re require d to send scanne d copy (PD F /JPG For m at) of the relevant B o ard Resol u tion/ Aut h ority lette r etc. with atteste d specimen s ignature o f the duly a u thorized signatory(ie s ) who are a uthorized t o vote, to the Scr u tinizer by e -mail to ak j aincs@gm a il.com wit h a copy m a rked to ev o ting@nsdl.co.in. 2 . It is str o ngly reco m mended n o t to share y our pass w ord with a n y other pe r son and take utmost care to keep your password c onfidentia l . Login to t he e-votin g website w ill be disa b led upon five un s uccessful a ttempts to k ey in the c orrect pass w ord. In s u ch an even t , you will n eed to go throug h the “For g ot User D etails/Pass w ord?” or “Physical User Rese t Passwor d ?” option availab l e on www.evoting.ns d l.com to re s et the pas s word. 3 . In case of any que r ies, you m a y refer the Frequentl y Asked Q u estions (F A Qs) for Sh a reholders and e - voting us e r manua l for Sha r eholders available a t the d o wnload s e ction of www.e v oting.nsdl . com or ca l l on toll fr e e no.: 180 0 1020 990 and 1800 22 44 30 or send a request to Ms. Pall a vi Mhatre a t evoting @ nsdl.co.in

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Process for those shareholders whose email ids are not registered with the depositories for procuring user id and password and registration of e mail ids for e-voting for the resolutions set out in this notice :

• 1 . In case shares ar e held in p hysical m o de please provide F o lio No., N ame of sh a reholder, scanne d copy of t h e share cer t ificate (fro n t and bac k ), PAN (se l f attested scanned co p y of PAN card), A ADHAR ( s elf attested scanned c o py of Aad h ar Card) b y email to s e cretarial@ d mltd.in.

• 2 . In case s hares are h eld in de m at mode, p l ease provi d e DPID-C L ID (16 dig i t DPID + C LID or 16 digit be n eficiary I D ), Name, c l ient master or copy of Consolidat e d Account statement, PAN (self atteste d scanned c o py of PA N card), AADHAR (sel f attested s c anned cop y of Aadha r Card) to secreta r ial@dmltd. i n. If you are an Indi v idual shar e holders holding secu r ities in de m at mode, you are requested to refer to t he login m ethod expl a ined at step 1 (A ) i.e. Login method for e- Voting and joining virtual meeting for Individual shareholders holding securities in demat mode .

• 3 . Alterna t ively shar e holder/m e mbers ma y send a r e quest to e v oting@ns d l.co.in for procuring user id a nd passw o rd for e-vo t ing by pro v iding abo v e mention e d docume n ts.

• 4 . In ter m s of SEBI circular d a ted Dece m ber 9, 202 0 on e-Vot i ng facility provided by Listed Compa n ies, Indiv i dual shareholders ho l ding secu r ities in de m at mode are allow e d to vote throug h their de m at accou n t maintai n ed with D epositorie s and De p ository Participants. Shareh o lders are r e quired to u pdate thei r mobile n u mber and e mail ID co r rectly in t h eir demat accoun t in order to access e-V o ting facilit y .

THE INSTRUCTIONS FOR MEMBERS FOR e-VOTING ON THE DAY OF THE EGM ARE AS UNDER:-

• 1 . The pr o cedure for e-Voting o n the day o f the EGM i s same as t h e instructi o ns mentio n ed above for rem o te e-votin g .

• 2 . Only t h ose members/ share h olders, w h o will be present in the EGM through V C /OAVM facility and have n ot casted t heir vote o n the Res o lutions th r ough rem o te e-Votin g and are otherw i se not bar r ed from d o ing so, sh a ll be eligi b le to vote t hrough e- V oting system in the EGM.

• 3 . Membe r s who ha v e voted t hrough R e mote e-Vo t ing will b e eligible to attend t he EGM. Howev e r, they wil l not be eli g ible to vote at the EG M .

• 4 . The de t ails of the p erson wh o may be c o ntacted fo r any griev a nces conn e cted with the facility for e-V o ting on th e day of the EGM shall b e the sam e person m e ntioned fo r Remote e- v oting.

INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE EGM THROUGH VC/OAVM ARE AS UNDER:

1 . Membe r will be p r ovided wi t h a facilit y to attend t he EGM t h rough VC / OAVM th r ough the NSDL e -Voting s y stem. Me m bers may access by following t he steps m entioned above for Access to NSDL e-Voting system . After s uccessful login, you c a n see link of “VC/O A VM link” placed u nder “Join General meeting” m e nu agains t company n ame. You a re request e d to click on VC / OAVM lin k placed u n der Join G e neral Mee t ing menu. The link for VC/OA V M will be availab l e in Share h older/Me m ber login w here the E VEN of Co m pany wil l be displayed. Please note th a t the me m bers who do not have the Us e r ID and P assword f or e-Votin g or have

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forgott e n the User ID and Password may retrieve t he same b y following the remot e e-Voting instruc t ions menti o ned in the n otice to a v oid last mi n ute rush.

• 2 . Membe r s are enco u raged to j o in the Mee t ing throug h Laptops f o r better ex p erience. 3 . Further members w ill be requ i red to allo w Camera a nd use Int e rnet with a good spee d to avoid any dis t urbance d u ring the m e eting.

• 4 . Please n ote that Participants Connectin g from Mo b ile Device s or Tablet s or throu g h Laptop connec t ing via M o bile Hotsp o t may ex p erience A u dio/Video loss due t o Fluctuati o n in their respect i ve networ k . It is the r efore reco m mended t o use Stab l e Wi-Fi or LAN Con n ection to mitigat e any kind o f aforesaid glitches.

• Membe r s who wo u ld like to e xpress thei r views or a sk questio n s during t h e EGM m a y register themse l ves as a s peaker b y sending t heir requ e st, along w ith the questions, f r om their register e d e-mail i d mentioni n g their na m e, DP ID a nd Client I D / Folio N o., PAN, M obile No. at secretarial@dml t d.in on or before Th u rsday, Sep t ember 30, 2 021. Thos e members w ho have register e d themsel v es as a sp e aker will o nly be all o wed to ex p ress their v iews/ ask questions during t he EGM. T he Compa n y reserves the right t o restrict th e number o f speakers / questions depending on the a vailability o f time an d as approp r iate for sm o oth condu c t of the E G M.

I n case of a n y grievanc e s connecte d with facil i ty for e-vo t ing, please contact A . Pallavi M hatre, M a nager E-votin g Helpdesk Nation a l Securities Depositories Limited Email: e voting@ns d l.co.in Phone: 1 800 1020 9 9 0/1800 22 4 430

• B . Anann y a Godbole, Company S ecretary Delta M anufacturi n g Limited (formerly k nown as D e lta Magne t s Limited) Corpor a te Office: B ayside Ma l l, 2[nd] Floor, Tardeo Ro a d, Haji Ali , Mumbai – 400 034 Email: s ecretarial@dmltd.in Phone: 0 22-407947 0 0

• C . Bhusha n Chandratre Freedo m Registry L imited (S T A) Registe r ed Office: P lot No. 10 1 / 102, 19[th] Street, MI D C, Satpur, Nasik - 422 007 Email: s upport@fr e edomregis t ry.co.in Phone: 0 253-23540 3 2, 2363372

By Order of the Board of Directors, Anannya Godbole Company Secretary ACS No: 23112

Mumb a i, September 15, 2021 Registered Office: B-87, MID C , Ambad, N ashik-422 010, Mahar a shtra. CIN : L 3 2109MH1 9 82PLC028 2 80 Email I D : secretari a l@dmltd.i n Websit e : www.del t amagnets. c om Tel No : 91-22-4079 4 700 Fax No : 91-22-40 7 94777

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EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013

The fol l owing Exp l anatory St a tement se t s out all m a terial fact s relating t o the Specia l Business mentio n ed in the a c companyi n g Notice:

To divest assets of material subsidiary of the Company:

Magde v Limited, i ncorporate d in the U n ited Kingdom ( “Magdev” ) is a m aterial su b sidiary of the Co m pany as defined u n der SEBI (Listing O bligations and Discl o sure Req u irements) Regula t ions, 2015 (“ Listing Regulations ”).

Magde v carries o n the busi n ess of ass e mbly and supply of permanen t magnets, magnetic assemb l ies and so f t ferrite cores, and th e supply o f sendust, M PP and i r on powde r cores for chokes; carbonyl i r on cores f o r high fre q uency app l ications; s t rip wound cores in si l icon steel and nic k el alloys; a nd iron an d cobalt base amorpho u s and nan o crystalline cores (“ Business ”).

Magde v has prop o sed to sell t he Busines s comprisi n g of inter a l ia Magdev ’ s entire sta k e held in Pilame c Limited ( “Pilamec” ) , a wholly owned su b sidiary of Magdev, f i xed assets , movable assets, r aw mater i als, finished goods a n d intellec t ual proper t y rights t o Bunting M agnetics Europe Limited ( “ Bunting ”) , for an a g gregate c o nsideratio n of GBP 1 ,450,000 ( s ubject to adjust m ents) on t h e terms an d conditio n s containe d in the ag r eements e x ecuted wit h Bunting (“ Proposed Transaction ”).

Pilame c , a wholly owned su b sidiary of Magdev, w hose entir e sharehol d ing is bei n g sold to Buntin g by Magde v , is engag e d in the b u siness of s u pply of go o ds and ser v ices to the chemical, metal a nd cerami c industrie s . The Pro p osed Tran s action do e s not inte r alia inclu d e sale of freehol d land of M agdev at S windon, a n d transfer of cash bal a nce as on the compl e tion date. The Pr o posed Tra n saction is i n tended to u nlock val u e and mon e tize non-c o re busines s .

In term s of Regul a tion 24(6) o f the Listi n g Regulati o ns, selling , disposing and leasin g of assets amoun t ing to mor e than twe n ty percent of the asse t s of a mat e rial subsi d iary on an aggregate basis d u ring a fin a ncial year shall requi r e prior ap p roval of t h e member s by way o f a special resolution.

For the financial y e ar ending March 31, 2021: (i) to t al revenue of Magde v was INR 3 36,497.64 (000); **a** nd (ii) net **w** orth of Magdev was INR 113,180.03 (000). This consti t utes 32% o f the total consoli d ated reve n ue and 31% of the t o tal consol i dated net worth of t h e Compa n y for the financi a l year endi n g March 3 1 , 2021. Th e assets whi c h are pro p osed to be t ransferred constitute approx. 51% of the assets of M agdev.

In vie w of the afo r esaid reg u latory req u irements, a pproval o f the Mem b ers is sou g ht for the Propos e d Transact i on.

The bo a rd of direc t ors of the C ompany h a s, at its me e ting held o n Septemb e r 15, 2021, approved the Pro p osed Tran s action, su b ject to rec e ipt of shar e holders’ a p proval. Th e Board recommends the res o lution as s e t out in the Notice for t he approv a l of the members as a S pecial Res o lution.

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The Pr o posed Tra n saction is n ot a relate d party tran s action un d er Section 1 88 of the C ompanies Act, 20 1 3 or the Li s ting Regul a tions. Non e of the Directors and K ey Managerial Perso n nel of the Compa n y and the i r respecti v e relatives is, in any w ay, concer n ed or interested, fin a ncially or otherw i se, in the a f oresaid Sp e cial Resol u tion set ou t in this No t ice.

By Order of the Board of Directors,

Anannya Godbole Company Secretary ACS No: 23112 Mumb a i, September 15, 2021 Registered Office: B-87, MID C , Ambad, N ashik-422 010, Mahar a shtra. CIN : L 3 2109MH1 9 82PLC028 2 80 Email I D : secretari a l@dmltd.i n Websit e : www.del t amagnets. c om Tel No : 91-22-4079 4 700 Fax No : 91-22-40 7 94777

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