SOLARA ACTIVE PHARMA SCIENCES LIMITED — M&A Activity 2021

Nov 11, 2021

'SOLARA ,,[, Active Pharma Sciences]

Communication Address: Solara Active Pharma Sciences Limited Batra Centre No. 28. Sardar Patel Road. Post Box 2630 Guindy. Chennai - 600 032. India Tel : +91 44 43446700. 22207500 Fax: +91 44 22350278 E-mail : investors@solara.com www.solara.co.in

November 11, 2021

The BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001

The National Stock Exchange of India Limited

Exchange Plaza, Bandra-Kurla Complex Bandra (E), Mumbai - 400 051

Scrip Code: 541540

Scrip Code: SOLARA

Dear Sirs,

Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), as amended from time to time

This is in continuation to our letters dated 9th April 2021 and 25th August 2021 intimating the approval of the Board of Directors of the Company to the Composite Scheme of Amalgamation (Merger by Absorption) and Arrangement (the "Scheme") under Sections 230 to 232 and Section 66 of the Companies Act, 2013 read with other applicable provisions and the Rules framed thereunder ("the Act") of Aurore Life Sciences Private Limited ("Aurore Life Sciences" or the "Amalgamating Company 1" or "Transferor Company 1 ") and Empyrean Lifesciences Private Limited ("Empyrean" or the "Amalgamating Company 2" or "Transferor Company 2") and Hydra Active Pharma Sciences Private Limited (''Hydra" or the "Amalgamating Company 3" or "Transferor Company 3") with Solara Active Pharma Sciences Limited ("Solara" or "Transferee Company" or "Company") and their respective shareholders whereby Hydra, Empyrean and Aurore Life Sciences, along with its investment in Aurore Pharmaceuticals Private Limited ("APPL") were getting merged with Solara.

This Scheme has been filed with BSE Limited ("BSE") and National Stock Exchange Limited ("NSE") and is currently pending for approval before them.

In view of the outstanding issue with the minority shareholder of APPL (Subsidiary of Aurore Life Sciences), the Board, in its meeting held today, has considered and approved the withdrawal of the Scheme. Further, the Board has approved the Revised Scheme (wherein APPL will not be transferred to Solara) and accordingly a separate intimation of the same has been made to the BSE and NSE.

The same may kindly be read in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

We request you to take the same on record.

Thanking you, Yours faithfully, For Solara Active Pharma Sciences Limited

,�� S. Murali Krishna Company Secretary

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636

REGO. OFF: 20 I, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 I Fax: 91-22-2789 2942