Jindal Saw Ltd. — Capital/Financing Update 2025

Jun 9, 2025

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June 09, 2025

BSE Limited National Stock Exchange of India Limited, Corporate Relation Department Listing Department, 1st Floor, New Trading Ring Exchange Plaza, Rotunga Building Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Bandra (East) Mumbai - 400 001 Mumbai – 400 051 Stock code: 500378 Stock code: JINDALSAW

Sub.: In�ma�on under Regula�on 30 of SEBI (Lis�ng Obliga�ons and Disclosure Requirements) – Regula�ons, 2015 Acquisi�on

Dear Sirs,

This is to inform that the Board of Directors of the Company in its mee�ng held today, i.e. 09[th] June, 2025 approved the following investment proposals:

1. To incorporate a step-down subsidiary in United Arab Emirates (“UAE”).

2. To enter into JV agreement between Jindal Saw Holdings FZE (“JSH”), a subsidiary of the Company and BUHUR FOR INVESTMENT COMPANY LLC, KSA (“Buhur”) for incorpora�ng a new Company in Kingdom of Saudi Arabia (KSA).

3. To enter into JV agreement between Jindal Saw Holdings FZE (“JSH”), a subsidiary of the Company and RAX United Industrial Company, KSA (“RAX”) for incorpora�ng a new Company in Kingdom of Saudi Arabia (KSA).

The details as required under SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�on, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11[th] November, 2024 are a�ached as per Annexure ‘1’ .

The Board Meeting commenced at 04:00 p.m. and concluded at 05:00 p.m.

This is for your information and record.

Thanking you,

Yours faithfully, For Jindal Saw Limited, Digitally signed by SUNIL KUMAR JAIN DN: c=IN, postalCode=110087, st=DELHI, street=WEST DELHI, l=WEST DELHI, o=Personal, SUNIL serialNumber=cae3445e545680b5a6a2b3c48701defa014a81587d8bcfac5d63574d4c845c00, pseudonym=f347d48c4d624af9a955e35e5c68f089, 2.5.4.20=f3920032fcfecff0d9cf750fe7967b752ec364a KUMAR JAIN 68d4ef72da6ace99afc8dde4c, email=SUNIL.JAIN@JINDALSAW.COM, cn=SUNIL KUMAR JAIN Date: 2025.06.09 17:01:36 +05'30'

Sunil K Jain Company Secretary FCS- 3056

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Annexure ‘1’

Details with respect to Regula�on 30 read with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11[th] November, 2024

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S.no. Details Par�culars Par�culars Par�culars
1. name of the target en�ty, details A new company to A new company to A new company to be
in brief such as size, turnover etc. be incorporated in be incorporated in incorporated Kingdom of Saudi
United Arab Kingdom of Saudi Arabia (KSA)
Emirates (UAE) Arabia (KSA)
2. whether the acquisi�on would NA NA NA
fall within related party
transac�on(s) and whether the
promoter/ promoter group/
group companies have any
interest in the en�ty being
acquired? If yes, nature of
interest and details thereof and
whether the same is done at
“arm’s length”;
3. industry to which the en�ty Iron and Steel Iron and Steel Iron and Steel
being acquired belongs;
4. objects and impact of acquisi�on The Company The Company The Company proposes to set up
(including but not limited to, proposes to set up proposes to set up a a Duc�le Iron Pipe project in
disclosure of reasons for a 300,000 tons per Helically Spiral Kingdom of Saudi Arabia (KSA) by
acquisi�on of target en�ty, if its annum (TPA) welded (HSAW) pipe way of entering into JV
business is outside the main line capacity Seamless project in Kingdom agreement between Jindal Saw
of business of the listed en�ty); Pipe of Saudi Arabia (KSA) Holdings FZE, a subsidiary of the
Manufacturing by way of entering Company and RAX United
Facility in Abu into JV agreement Industrial Company, KSA by way
Dhabi (UAE) by between Jindal Saw of incorpora�ng a new Company
way of Holdings FZE, a in KSA.
incorpora�ng a Subsidiary of the
new step-down Company and
subsidiary to cater BUHUR FOR
primarily to the Oil INVESTMENT
& Gas Sector of the COMPANY LLC, KSA
MENA region by way of
incorpora�ng a new
Company in KSA.
5. brief details of any governmental Necessary Necessary approvals Necessary approvals will be
or regulatory approvals required approvals will be will be taken, if taken, if required
for the acquisi�on; taken, if required required
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6.	indica�ve �me period for comple�on of the acquisi�on	Approx. 3 years	Approx. 2 years	Approx. 12-18 months
7.	considera�on - whether cash considera�on or share swap or any other form and details of the same;	Cash	Cash	Cash
8.	cost of acquisi�on and/or the price at which the shares are acquired;	Upto USD 105 Million	Upto USD 10 Million	Upto USD 3 Million
9.	percentage of shareholding / control acquired and / or number of shares acquired;	100%	51%	51%
10.	brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	To be incorporated	To be incorporated	To be incorporated

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