JUPITER WAGONS LIMITED — M&A Activity 2024

Oct 30, 2024

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October 30, 2024

To, The Corporate Relationship Department, The Manager, Listing Department, BSE Limited , National Stock Exchange of India Limited , Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 001. Mumbai - 400 051. Scrip Code: 533272 NSE Symbol : JWL

• Sub: Press / Media Release – Jupiter Electric Mobility Acquires Log9’s Railway and Electric Truck Battery Divisions, Strengthening Position in Electric Truck and Railway Battery Solutions

• Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time (“Listing Regulations”)

Dear Sir/Madam,

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of the Press Release, to be issued by the Company.

This is for your information and record.

Yours Faithfully,

For Jupiter Wagons Limited

RITESH Digitally signed by KUMAR RITESH KUMAR SINGH Date: 2024.10.30 SINGH 18:02:12 +05'30'

Ritesh Kumar Singh

Company Secretary and Compliance Officer

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Jupiter Electric Mobility Acquires Log9’s Railway and Electric Truck Battery Divisions, Strengthening Position in Electric Truck and Railway Battery Solutions

Kolkata: October 30, 2024 : Jupiter Wagons Limited (JWL) , a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation, announced a landmark acquisition of Log9’s Railway and Electric Battery technology and business.

Jupiter Electric Mobility (JEM), a subsidiary of JWL, today announced a landmark acquisition of Log9’s technology and business assets for its Railway Battery and Electric Truck Battery Divisions. This acquisition marks a significant advancement in JEM’s mission to revolutionize the electric mobility landscape in India by expanding its portfolio with cutting-edge battery solutions tailored for both the electric truck segment and Indian Railways.

The acquisition includes the engineering and production teams dedicated to railway and electric truck battery technologies, who will now become part of JEM’s dynamic workforce. Additionally, JEM will acquire Log9’s state-of-the-art manufacturing facility located in Devanahalli, Bangalore further reinforcing its position as a leading player in India’s electric mobility ecosystem.

This strategic merger enhances JEM’s capabilities in the electric truck segment by enabling backward integration into battery production—an essential component of its electric light commercial vehicles (eLCVs). With this addition, JEM will be better equipped to design, engineer, and produce in-house battery solutions, strengthening its position in a highly competitive market.

For Jupiter Wagons Limited, JEM’s acquisition of Log9’s railway battery technology is a pivotal expansion of its Railways Product Landscape. By adding this vital battery division, JEM is positioned to support a range of applications in the Indian Railways segment. Notably, JEM and Log9 have already seen success in piloting battery products with Indian Railways, recently securing an order for Vande Bharat batteries in collaboration with Siemens.

Mr. Vivek Lohia, Managing Director, JWL , stated, “This acquisition is more than a transaction; it’s an investment in JEM’s future. By integrating Log9’s technology and production capabilities into our portfolio, we’re able to expand our expertise in electric mobility and railways while reinforcing our dedication to sustainable and innovative energy solutions.”

JEM’s strengthened technology stack, bolstered by a skilled engineering team and enhanced manufacturing capacity, is set to drive further advancements in India's electrification journey across both the automotive and railway sectors.

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About Jupiter Electric Mobility, subsidiary of JWL (BSE: 533272; NSE: JWL)

Jupiter Electric Mobility (JEM), a subsidiary of Jupiter Wagons Limited (JWL), is a pioneering company focused on advancing electric vehicle and energy storage solutions across commercial and industrial segments in India. With a commitment to innovation and sustainable mobility, JEM specializes in designing and manufacturing cutting-edge electric trucks, light commercial vehicles (e-LCVs), and energy storage solutions for various applications, including Railways. By integrating advanced battery technologies and engineering expertise, JEM aims to lead India’s transition to eco-friendly and efficient transportation solutions. Backed by Jupiter Wagons’ extensive legacy in railways and mobility infrastructure, JEM is uniquely positioned to drive meaningful progress in India’s electric mobility sector. please visit www.jupiterwagons.com

About Log9 Materials

Log9 Materials is a pioneering deep-tech company based in Bangalore, specializing in advanced, highperformance battery solutions designed to meet the rigorous demands of India’s electric mobility, logistics, and industrial sectors. Its proprietary RapidX technology enables ultra-fast charging and extended durability, making Log9 a leader in sustainable battery solutions tailored to withstand India’s unique climate conditions. With a diverse portfolio that includes batteries for e-bikes, e-scooters, e-rickshaws, electric trucks, and industrial applications, Log9 is driving India’s shift toward cleaner transportation and energy. By prioritizing indigenous R&D and collaborating with OEMs, industry partners, and government bodies, Log9 delivers impactful, eco-friendly technologies that reduce emissions and advance green energy initiatives.

For more information on the Company, please log on to www.jupiterwagons.com or contact:

Mayank Vaswani / Richa Singh CDR, India

Tel: +91 98209 40953 / +91 91677 72135 Email: mayank@cdr-india.com/ richa@cdr-india.com

Safe Harbor

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Jupiter Wagons Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

CIN: L28100MP1979PLC049375/Registered office: 48, Vandana Vihar, Narmada Road, Gorakhpur, Jabalpur (M.P.) – 482001. Website – www.jupiterwagons.com