Sterlite Technologies Limited. — Capital/Financing Update 2020

Jan 9, 2020

www.sterlitetech.com

January 9, 2020

BSE Limited Corporate Relations Department 151 Floor, New Trading Ring, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001

National Stock Exchange of India Ltd Exchange Plaza, 5^{1 h}Floor, Plot. C/1, G-Biock, Bandra-Kurla Complex, Bandra (East}, Mumbai 400 051

Symbol: STRTECH

Dear Sirs,

Scrip Code: 532374

Sub: STL to invest in Israel based 5G vRAN Company

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Sterlite Global Venture (Mauritius) Limited a wholly owned subsidiary of STL, has entered into definitive agreements to acquire 12.8% stake (on issued and outstanding basis) in ASOCS, a vRAN technology company based out of Israel. The privately held company is a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully virtualized, NFV-compatible virtual Base Station solutions for Enterprise and Telco-Networks.

Jn this regard, please find enclosed herewith the disclosures required under Regulation 30 and a Press Release.

We request you to take the aforesaid on record.

Thanking you,

Yours sincerely, For Sterlite Technologies Limited

~ Amit Deshpande Company Secretary & Corporate General Counsel

Enclosures: As above

Sterlite Technologies Limited

4th Floor. Godrej Millennium, 9, Koregoan Park Road, Pune. Maharashtra -411 001, India I Phone: +91 20 3051 4000 Fa x: +91 20 3051 4113 Registered office E1 , MIDC Industrial Area. Waluj, Aurangabad- 431136, Maharashtra, 11\IDIA. CIN- L31300MH2000PLC269261

Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sr.No.	Particulars	Description
A	Name of the target entity, details in brief such as size, turnover etc.	Target Name: ASOCS Ltd. is a Israel based technology company having offices in Israel and US.
B	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arm's length"	Not a related party transaction.
c	Industry to which the entity being acquired belongs	vRAN (Virtualised Radio Access Network)
D	Objects and effects of acquisition (including but of reasons not limited to, disclosure for acquisition of target entity, if its business is outside the main line of business of the listed entity)	The investment strengthens the company's offering in the promising and fast growing virtualised radio access space.
E	Brief details of any governmental or regulatory approvals required for the acquisition	None.
F	Indicative time period for completion of the acquisition	Closed
G	Nature of consideration- whether cash consideration or share swap and details of the same	Cash consideration to be paid in two tranches, one as on date, and one in May 2020.
H	Cost of acquisition or the price at which the shares are acquired	i Acquisition of the shares of lnvestee Company is done at a mutually agreed pre-money valuation. The said valuation is not disclosed herein due to reasons of confidentiality.
	Shareholding percentage acquired	12.8% of issued and outstanding shares
J	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years' turnover, country in which the acquired entity . Station solutions for Enterprise and Telco 1 has presence and any other significant information (in brief)	ASOCS is a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully virtualized, NFV-compatible virtual Base Networks. The company disrupts the traditional RAN market with an open and virtualized software solution, delivering 4G and 5G cellular network solutions.

For Sterlite Technologies Limited

Amit ~ Deshpande Company Secretary & Corporate General Counsel

Sterlite Technologies Limited

Godrej Millennium, 9, Koregoan Road, Pune 411 001, Maharashtra, India

Phone: +91-20-30514000 Fax: +91-20-30514113

PRESS RELEASE FOR IMMEDIATE DISSEMINATION

STL invests in 5G virtual Radio Access Innovator ASOCS

Strengthening its wireless portfolio to deliver end-to-end open standard 5G solutions

Santa Clara, US and Rosh-Ha'ayin, Israel – January 9, 2020: STL [NSE: STRTECH], a global data networks innovator, today announced an investment in ASOCS, a developer of open, disruptive and virtualized Radio Access Network (vRAN) solutions, delivering 4G and 5G for cellular networks. As a part of the overall transaction, STL has acquired a 12.8% stake in the company (on an issued and outstanding basis) and Board representation.

ASOCS is a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully virtualized Base Station solutions for Enterprise and Telco-Networks. STL and ASOCS will partner in creating cutting edge solutions that will address the rollout of 5G networks. The future of RAN is evolving to commercial off-the-shelf IT hardware and Open Standards compliant radios which will allow carriers and their customers to enjoy new levels of performance and reliability for delivering mission-critical tasks and localized private networks. It will also allow them to derive benefits of advanced technologies involving AI and analytics across all mobile use cases.

"Open RAN architecture and virtualisation are key to building software-centric networks to meet the exploding demands of networks of tomorrow. The joint solution of STL and ASOCS will empower Mobile Network Operators to build best in class networks and enable them to build vendor-neutral, autonomous mobile networks using 5G radio, SDN, NFV and AI Technologies. We are incredibly excited to invest in ASOCS and believe that the partnership will enable STL and ASOCS to bring end-to-end capabilities for a converged network (i.e. both wireless and wireline) to market. Together, we can offer full stack solutions to Enterprise and Telco customers, including STL's services and system integration capabilities" said Dr. Anand Agarwal, Group CEO STL.

"We are thrilled to partner with STL. Their staunch focus on technology and strong customer relationships will go a long way in delivering flexible and innovative solutions to customers. We will utilise the new funding to accelerate and expand our vRAN 5G portfolio. Now is the right time for mobile operators and their enterprise customers to have an easy, fast way to leverage and get more out of their existing hardware, while enjoying superb 4G and 5G networks that include network slicing capabilities, comprehensive insights on network usage and new levels of control and flexibility, all in a single software stack. As we combine ASOCS and STL solutions, we believe this would be a real turning point for our industry." said Gilad Garon, ASOCS' CEO.

With the partnership between STL - a global leader in Optical networks design and deployment, and ASOCS - a new generation virtualization solution for radio, STL can develop and offer best in class next-generation converged data network solutions, for its Enterprise and Telco customers globally.

Sterlite Technologies Limited

Godrej Millennium, 9, Koregoan Road, Pune 411 001, Maharashtra, India

Phone: +91-20-30514000 Fax: +91-20-30514113

About STL - Sterlite Technologies Ltd

STL is a global leader in end-to-end data network solutions.

We design and deploy high-capacity converged fibre and wireless networks. With expertise ranging from optical fibre and cables, hyper-scale network design, and deployment and network software, we are the industry's leading integrated solutions provider for global data networks. We partner with global telecom companies, cloud companies, citizen networks and large enterprises to design, build and manage such cloud-native software-defined networks.

STL has innovation at its core. With intense focus on end-to-end network solutions development, we conduct fundamental research in next-generation network applications at our Centres of Excellence. STL has strong global presence with next-gen optical preform, fibre and cable manufacturing facilities in India, Italy, China and Brazil and two software-development centres.

STL.tech |Twitter | LinkedIn | YouTube

Corporate Communications Vinay Rawat Phone: +91. 8669981631 Head – Media Relations Email: vinay.rawat@stl.tech

Investor Relations Pankaj Dhawan Phone: +91. 8130788887 Head – Investor Relations Email: pankaj.dhawan@sterlite.com