PG Electroplast Limited — Capital/Financing Update 2024

Nov 18, 2024

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November 18, 2024

To, To, The Manager (Listing) The Manager (Listing) BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 533581 Scrip Symbol: PGEL

Sub: Press Release

Dear Sir/Ma’am,

We enclose a copy of Press Release titled “PG Electroplast’s Wholly Owned Subsidiary - PG Technoplast, Enters Electric Vehicle Assembly and Lithium-Ion Battery Assembly" .

This is for your information and record please.

Thanking you,

For PG Electroplast Limited

SANCHA Digitally signed by SANCHAY DUBEY Y DUBEY Date: 2024.11.18 15:56:42 +05'30' (Sanchay Dubey) Company Secretary

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PG Electroplast’s Wholly Owned Subsidiary - PG Technoplast, Enters Electric Vehicle Assembly and Lithium-Ion Battery Assembly

Delhi (India), November 18, 2024: PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in Electronic Manufacturing Services and Plastic Molding, through its wholly owned subsidiary, PG Technoplast Pvt. Ltd., has signed a Definitive Agreement with Spiro Mobility to become an Exclusive Manufacturing partner for manufacturing of the EVs of Spiro Mobility (Spiro) in India.

The Primary responsibility of PG Technoplast Pvt. Ltd. will be setting up and managing the manufacturing facilities for Electric vehicle, Lithium-Ion batteries and related components and for procurement of parts and raw materials for the same as specified by Spiro. Spiro shall be responsible for Research and development, marketing, sale, and distribution of the EV products manufactured by PG Technoplast Pvt. Ltd.

Commenting on this occasion, Mr. Vishal Gupta, Managing Director (Finance), PG Electroplast Limited (PGEL) said , “The company’s entry into EV and Lithium-Ion batteries manufacturing opens up a new horizon of growth for the company and with Partner like Spiro, the company is confident that this association will go a long way and become a sizeable player in the EV market in India.”

Mr. Kaushik Burman, CEO of Spiro Mobility Said “Spiro is Africa’s largest EV player and we are excited to partner with PG Technoplast Pvt. Ltd. for manufacturing the EVs and Lithium-Ion Batteries. The great execution track record, coupled with management's professionalism and execution focus, inspires confidence that the association of PG and Spiro will bring mutual success to each other and expand the EV space in emerging markets further”.

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About PG Electroplast Limited

PG Electroplast [NSE: PGEL] is a trusted one-stop solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing to most leading consumer durable and electronics brands in India. The company has one of the biggest capacities in Plastic Injection molding and has capabilities across the value chain in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM) products like Room ACs, Washing Machines, Air-Coolers, and LED TVs. Visit us at www.pgel.in.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve several risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

For further clarification, you may contact the undersigned:

Mr Sanchay Dubey, Company Secretary- PGEL

Address: P-4/2 to 4/6, Site-B, UPSIDC Industrial Area, Surajpur, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh 201306 Contact No: +91-120-2569323 Email: investors@pgel.in