Mukand Ltd. — Capital/Financing Update 2023

Mar 9, 2023

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9[th ] March, 2023

Department of Corporate Services Listing Department BSE Ltd., National Stock Exchange of India Phiroze Jeejeebhoy Towers, Dalal Ltd. Exchange Plaza, Plot no. C/1, G Street, Mumbai – 400 001. Block, Bandra-Kurla Complex Bandra ISIN CODE : INE304A01026 (E), Mumbai – 400051. BSE Scrip Code : 500460 ISIN CODE : INE304A01026 NSE Scrip Name : MUKANDLTD.

Dear Sirs,

Sub: Execution of Share Purchase Agreement for sale of 5.51% equity shares of Mukand Sumi Special Steel Ltd to Jamnalal Sons Private Ltd.

Ref: Intimation under Regulation 30 and other applicable regulations of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, ("Listing Regulations")

This is further to our disclosures made on 11[th] November, 2022 and 13[th] February, 2023, in terms of Regulation 30 of the Listing Regulations, for the consideration and approval by the Board of Directors of the Company to sell/transfer 25,71,150 equity shares, constituting 5.51% of equity share capital of Mukand Sumi Special Steel Limited (" MSSSL "), a Joint Venture of Bajaj Group, (" Sale Shares ") to Jamnalal Sons Private Limited, a promoter group entity of the Company.

As authorized by the Board of Directors of the Company, Finance & Investment Committee of the Board of Directors of the Company has approved the Share Purchase Agreement (“ SPA ”) in its meeting held on 27[th] February, 2023 and the SPA has been executed for sale /transfer of Sale Shares amongst the Company, MSSSL and Jamnalal Sons Private Limited, on 9[th] March, 2023.

The aforesaid sale and transfer of the Sale Shares or consummation of the aforesaid SPA is subject to shareholders approval of the Company, third-party consents, statutory and regulatory approvals (including but not limited to Competition Commission of India), as applicable.

Kindly take the above on your record.

Yours faithfully, For Mukand Limited

RAJENDRA Digitally signed by RAJENDRA DATTARAM DATTARAM SAWANT Date: 2023.03.09 SAWANT 13:31:35 +05'30'

Rajendra Sawant Company Secretary

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