Saurashtra Cement Limited — M&A Activity 2021

Mar 30, 2021

Cc rf r "\ ef " =" - i j ~ Corporate Office saurashtra Cement Limited NK ldehis tnlarradicnal House, 2nd Foor,

E scl-mum@mehtagroup.com Ref: B/SCL/SE/SS/2020-21 GIN : L26941GJ1956PLC000840 March 30, 2021

Corporate Relationship Manager, BSE Limited, 1* Floor, New Trading Ring, Rotunda Bldg, P.J. Tower, Dalal Street, Mumbai 400001 Stock Code No: 502175

Sub : Intimation of takeover of paint business from Snowcem Paints Private Limited

Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

This is to inform you that the Board of Directors of the Company at its meeting held today i.e. 30 March 2021 has approved to take over the paint business of Snowcem Paints Private Limited on slump sale basis and as a going concern.

The total consideration for the transaction is around Rs.55 crores. However, the same may vary with such adjustments for net working capital as may be deemed necessary and agreed amongst Snowcem Paints Private Limited and the Company. The closure of transaction is subject to successful negotiation and execution of the definitive agreements including the Business Transfer Agreement and other such agreements customary to the transaction of this nature. Further, powers has been delegated by the Board to the Executive Vice Chairman and the Managing Director to vary, modify the structuring of the transaction if need.

This transaction doesn't qualify under the definition of "acquisition" pursuant to Para A of Part A of Schedule IIl of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015 and hence Annexure A is not applicable.

Please acknowledge receipt.

Thanking you, Yours faithfully For Saurashtra Cement Limited Sonali rit Sanas onsass0 €@ MEHTA Sonali Sanas

Sr. Vice President (Legal) & Company Secretary Regd. Office & Works

Near Railway Station, Ranavav 360 560 Guiarat, India

178 Backbay Reclamation, Mumbai 400 020 T +91 22 6636 5444 F +91 22 6636 5445