Dixon Technologies (India) Limited — Capital/Financing Update 2021

Aug 10, 2021

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DIXON AND REXXAM SIGN MOU TO FORM A JOINT VENTURE COMPANY IN ORDER TO APPLY FOR GOVT OF INDIA’S PRODUCTION LINKED INCENTIVE (PLI) SCHEME FOR MANUFACTURING OF PRINTED CIRCUIT BOARDS FOR AIR-CONDITIONERS

Noida, 10[th] August, 2021

Dixon has entered into Memorandum of Understanding (“MOU”) with Rexxam Co., Ltd. (“ Rexxam ”) to form a Joint venture (JV). The said JV Company will undertake manufacturing of Printed Circuit Boards for Air-Conditioners (“PCB”) for domestic and international market and also proposes to file necessary applications with Department for Promotion of Industry and Internal Trade (DPIIT) or any other nodal agency to avail benefits under the PLI Scheme of Government of India. Post execution of mutually acceptable agreements by the parties, the JV Company will be 60% owned by Rexxam & 40% owned by Dixon.

Commenting on this occasion, Mr Atul B. Lall , Vice Chairman & Managing Director, Dixon Technologies said “We share a long standing relationship with Rexxam as we have been manufacturing AC-PCBs for their Indian partner for more than 7 years. We are confident that our relationship with Rexxam will further deepen its roots with this strategic partnership. Under this JV, we will not only be serving to Indian customers of Rexxam but shall also be serving International Clients. We highly anticipate that a significant part of revenue under the JV Company will come from exports. We are extremely confident that this venture will be well positioned and shall be a contributor in strengthening India’s electronics manufacturing sector as well as towards Indian government’s vision of an Atmanirbhar Bharat.”

About Dixon Technologies (India) Limited

Dixon Technologies (India) Limited is India’s largest* home grown design-focused and solutions company engaged in manufacturing electronic products and has a diversified portfolio which includes (i) consumer electronics like LED TVs; (ii) Home appliances like washing machines; (iii) lighting products like LED bulbs, LED battens, downlighters etc.; (iv)mobile phones/smart phones; (v) CCTV & DVRs (vi) Medical Equipment (vii) Set Top boxes.

*Source: Project Rise: Indian Consumer Electronics & Appliances Market Study, issued by Frost & Sullivan India Private Limited

About Rexxam

Rexxam Co. Ltd. is a Japanese Corporation established in the year 1960. The Company deals in development, design, manufacturing and marketing of electronic application products (electronic controllers, medical electronic equipment, etc.), peripheral devices of semiconductor production equipment, automotive components, precision machining products, ski boots, beverages and desiccant.

For further clarification, you may contact the undersigned: Ashish Kumar Group Company Secretary, Head- Legal & H.R.

Address: B-14 & 15, Phase-II, Noida, Gautam Buddha Nagar, Uttar Pradesh – 201 305 Contact No. : +91 120 473 7200; Fax: +91 120 473 7263 Email: investorrelations@dixoninfo.com