HEG Ltd. — Board/Management Information 2022

Nov 11, 2022

HEG/SECTT/2022

11[th] November, 2022

1	BSE Limited 25thFloor, P J Towers Dalal Street MUMBAI - 400 001. Scrip Code : 509631	2	National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No.C/1, G Block, Bandra - Kurla Complex Bandra (E), MUMBAI - 400 051. Scrip Code : HEG

Sub: Outcome of Board Meeting held on 11[th] November, 2022

Dear Sir/Madam,

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Board of Directors of the Company in their Board Meeting held today has inter-alia considered/approved entering into Manufacturing of Graphite Anodes for lithium ion cells and its allied and ancillary products business through incorporation of a subsidiary Company.

The details as required under Regulation 30 of the Listing Regulations read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is attached herewith as Annexure-A .

Further details in compliance with SEBI Circular shall be provided after incorporation of Subsidiary Company as proposed alongwith other details.

The aforesaid information is being made available on the Company's website i.e www.hegltd.com

Please take the same on record

Thanking you,

Yours faithfully, For HEG Limited

VIVEK Digitally signed by VIVEK CHAUDHARY CHAUDHARY Date: 2022.11.11 18:24:29 +05'30'

(Vivek Chaudhary) Company Secretary M.No. A-13263 heg.investor@lnjbhilwara.com

Encl. as above

Annexure-A

Adoption of new line(s) of business:

S No.	Particulars	Description
1	Industry or area to which the new line of business belongs to;	The Subsidiary Company would manufacture graphite anode for Lithium-ion cells. The plant would be made in two phases, spending Rs. 1000 cr in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity. In Phase 2 the Company plans to double the capacity with another Rs. 1000 cr approx catering to a total of 20- 22 MWH of cell manufacturing capacity. The Company aims to finish both the phases in 5-7 years. The Company would be engaged in production of graphite anodes for lithium ion cells and other advance materials as a part of the innovation wing. In order to support the local industrial growth, the Indian government's PLI scheme mandates 60% domestic value addition for cell production. Anode material produced by us will play an important role meeting this requirement. The Company shall leverage the position of its Parent as a graphite industry leader to research and develop next-generation graphite and its specialized derivative materials for clean energy storage and conversion technologies beginning with anode for Li–ion batteries. It will make a significant contribution to the sustainable and technological advancement of our nation and planet in the field of materials manufacturing for green energy technologies over the next decade.

2	Expected Benefits;	As the Manufacturing of Graphite Anode for Lithium ion cells and its allied product is niche segment, by foray into this segment through the Subsidiary Company, it will help in vertical growth of the Company which will in future beneficial for all its stakeholders.
3	Estimated amount to be invested.	The Board of Directors have approved an investment upto Rs. 1000 Crores in one or more tranches for phase 1 project.

VIVEK Digitally signed by VIVEK CHAUD CHAUDHARY Date: 2022.11.11 HARY 18:27:43 +05'30'