IFGL Refractories Limited — Board/Management Information 2021

Nov 13, 2021

13[th ] November, 2021

� REFRACTORIES LIMITED [O

Head & Corporate Office

3, Netaji Subhas Road, Kolkata - 700 001, India Phone: +913340106100, Fax: +913322430886 E-mail : ifgl.ho@ifgl.in, Websites : www.ifglref.com

National Stock Exchange of India Ltd 'Exchange Plaza', C-1, Block - G Bandra - Kurla Complex Sandra (E), Mumbai 400 051 Code : IFGLEXPOR

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 00 I Code: 540774

Dear Sirs,

Re: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Notice is hereby given that following recommendation ofNomination and Remuneration Committee of the Company in its meeting held to-day, 13[th ] November, 2021, the Board of Directors of the Company in their meeting also held to-day, have bifurcated remuneration of the Company's Managing Director, Mr James Leacock McIntosh (DIN: 0009287829) on and f[r] om I st September 2021, being his appointment date, inasmuch as he will receive f[r] om the Company remuneration to the extent of GBP 150,000 ( GBP One lac fifty thousand only) per annum in twelve equated monthly installments, after deduction of tax at source including on account of rent f[r] ee furnished accommodation made available to him in India, and balance of his remuneration including allowances and perquisites f[r] om Company's Isle of Man subsidiary, [FGL Worldwide Holdings Limited.

Aforesaid bifurcation is necessitated as Mr Mclntosh will spend no more than 120 days in a financial year in India, is in the interest of the Company. For the purpose, an Addendum, to Agreement dated 20[th ] August, 2021 entered into by and between the Company and Mr McIntosh, is going to be executed soon, whereto said IOM subsidiary is also a party. Said bifurcation within overall remuneration including allowances and perquisites of Mr McIntosh is subject to approval of shareholders of the Company as wel I as the Central Government ie Ministry of Corporate Affairs.

Thanking you,

Yours faithfully, For IFGL Ref[r] actories Ltd., �¥1-1 (R Agarwal) Company Secretary

Registered Office & Kalunga Works Seclor 'B', Kolungo Industrial Estate P.O. Kolungo · 770 031, Dist. Sundergorh, Odisho, Indio Phone: +91 661 2660195, Fox: +91 661 2660173 E-mail : ifgl.works@ifgl.in, CIN : L5 l 909OR2007PLC027954

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