Onward Technologies Ltd. — Board/Management Information 2020

May 16, 2020

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To,

Date: 16[th] May, 2020

BSE Limited National Stock Exchange of India Ltd., Corporate Relations Department Exchange Plaza, 5th Floor, P J Towers, Dalal Street Plot No. C/1, G Block, Mumbai 400 001 Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051.

Ref: Scrip Code - BSE: 517536 NSE: ONWARDTEC

Subject: Change in Directors of the Company.

Dear Sir,

Pursuant to Regulation 30 and Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), we hereby inform that the Board of Directors of the Company at its meeting held on 15[th] May, 2020 :

1. Have re-appointed Mr. Rahul Rathi as an Independent Director (Non-executive), effective from July 21, 2020 to hold office for another term of 3 years till 32nd AGM subject to Shareholders’ Approval at ensuing AGM.

2. Have re-appointed Mr. Parish Meghani as an Independent Director (Non-executive), effective from July 21, 2020 to hold office for another term of 3 years till 32[nd] AGM subject to Shareholders’ Approval at ensuing AGM.

3. Have appointed Mr. Subrata Kumar Mitra as an Additional Director (Non-executive/ Independent), effective from May 15, 2020 to hold office upto the date of ensuing annual general meeting of the Company.

4. Have appointed Mr. Jay Sonawala as an Additional Director (Non-executive/ Independent), effective from May 15, 2020 to hold office upto the date of ensuing annual general meeting of the Company.

Further, brief profile of new directors appointed are enclosed below.

Kindly take the same on your record and acknowledge the receipt of the same

For Onward Technologies Limited

Sd/Dimple Chauhan Company Secretary

2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: +91 22 24926570 CIN: L28920MH1991PLC062542 | www.onwardgroup.com

Mumbai | Pune | Chennai | Chicago | Detroit | Cleveland | Frankfurt | Bengaluru | London

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Brief Profiles:

Mr. Jay Sonawala:

Jay Sonawala is a veteran banker, having worked in HDFC Bank, India's largest private sector bank for over 2 decades. Having completed his Bachelor in Commerce from Mumbai's Sydenham College of Commerce and Economics and his Masters in Business from NMIMS Institute, he is currently an Executive Vice President of the Corporate Bank in HDFC Bank. He has performed several roles in the Bank across cities on the wholesale banking side and has worked on both the asset and liability side of the balance sheet. Jay is an active social citizen and serves as a trustee on the family trust which caters to the educational requirements of the adivasi girl child.

Mr. S.K. Mitra:

S.K. Mitra Have been on Board of Directors and Committees of several reputed companies being in diverse industries as an independent Director. Have been an Advisor to a large international bank. Have been advisor to a few PE firms and Start Up firms. Have also been a nominee director on Board of companies on behalf of PE firms.

Have been associated with several international and domestic NGOs, Committees and Chambers in India. Regular contributor of articles in reputed domestic and international financial publications and have delivered talks in domestic and international forums. Currently India Correspondent for Asia Asset Management, Hong Kong.

2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: +91 22 24926570 CIN: L28920MH1991PLC062542 | www.onwardgroup.com

Mumbai | Pune | Chennai | Chicago | Detroit | Cleveland | Frankfurt | Bengaluru | London