Orchid Pharma Limited — Capital/Financing Update 2021

May 6, 2021

*( Formerly known as Orchid Chemicals & Pharmaceuticals Limited } » Corp. Off: Orchid Pharma Lid., 'Orchid Towers' 313, Valluvarkotlam High Road, Nungambakkam, Chennai - 600 034. India. May 06, 2021 CIN: £24222TN1992PLC022994

	*( Formerly known as Orchid Chemicals & Pharmaceuticals Limited }
May 06, 2021	» Corp. Off: Orchid Pharma Lid., 'Orchid Towers' 313, Valluvarkotlam High Road, Nungambakkam, Chennai - 600 034. India.CIN: £24222TN1992PLC022994
National Stock Exchange of india Ltd	BSE Limited
Listing Department	Corporate Relationship Department
Exchange Plaza, 5th Floor,	1st floor, New Trading Ring
Plot No: C/1, G - Block, Bandra - Kurla Complex, Rotunda Building, P J Towers
Bandra (East),	Dalal Street, Fort
Mumbai - 400 051	Mumbai - 400 001
NSE Symbol: ORCHPHARMA	BSE Code: 524372
Luxembourg Stock Exchange	London Stock Exchange
Bourse de Luxembourg	10 Paternoster Square
BP 165, L-2011 Luxembourg Siege social	London
11, avenue de la Portal — Neuve	EC4M 7LS

Dear Sir/Madam

intimation under Regulation 30 read with Schedule II! of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015

With reference to the captioned subject, we would like to inform you that Orchid Pharma Limited ("the Company") has signed a Binding Term Sheet on May 05, 2021 for transfer of its NPNC Formulations Division (IKKT Undertaking) at Irungattukottai, Chennai to a Joint Venture with a subsidiary of Bionpharma, a US based generic pharmaceutical company with a commercial portfolio and a pipeline of generic products in the United States.

As a part of this strategic collaboration, the Company will transfer its IKKT Undertaking to a "New Company" to be incorporated as a 74:26 Joint Venture with this Bionpharma entity. The consideration for the transaction is estimated to be up to Rs.170 Crores ina combination of cash and equity stake in the Joint Venture Company.

This strategic collaboration, will help Orchid expand its Formulations base in Regulated Markets with a strong partner with a presence in US, which is especially important in light of current pandemic. The consummation of the transaction is subject to execution of definitive agreements and usual conditions precedent including the approval of shareholders of Orchid and other approvals. We will intimate your good office once the Business Transfer Agreement in this regard is executed.

Kindly take the above information on your records.

Thanking you,