Sterlite Technologies Limited. — Interim / Quarterly Report 2021

Jul 22, 2021

July 22, 2021

National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C-1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai - 400 051.

BSE Limited Phirozee Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

Scrip Code: 532374; Scrip ID: STLTECH Symbol: STLTECH

Dear Sirs,

• Sub: Intimation under Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') and other applicable SEBI regulations
• 1. Approval of Un-audited Financial Results The Board of Directors (the "Board") of Sterlite Technologies Limited (the "Company") at its meeting held on July 22, 2021, has inter alia, approved the Un-audited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2021.

In this regard, please find enclosed:

• a. Press Release and Investor Presentation on Financial Results
• b. Un-audited Consolidated and Standalone Financial Results
• c. Limited Review Report on the aforesaid Financial Results
• 2. Acquisition of Clearcomm Group Limited, a UK based Network Integration Company The Company and its wholly owned subsidiary have entered into definitive documents to acquire 100% stake in Clearcomm Group Limited, (through a wholly-owned subsidiary of STL). Clearcomm, is based in the United Kingdom, and is a network integration company. As part of the transaction STL will acquire 80% of the shareholding of the Clearcomm in the first tranche and the balance 20% shareholding will be acquired in the second tranche in 2023.

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

1. Subject to the approval of the shareholders of the Company at the ensuing the AGM, and subject to such regulatory/statutory approvals as may be required, the Board at its meeting today, also approved, raising of funds, inter alia, by issue of equity shares, any financial instruments and/or security convertible into-equity shares, combination of such securities by way of one or more public and/or private offerings, qualified institutions placement and/or preferential allotment basis and/or rights offering or any combination thereof or any other

method in accordance with the provisions of applicable laws, for an aggregate consideration of up to Rs. 1000 crores.

• 1. The Board at its meeting today, further accorded in-principle approval for considering reorganization of its Businesses, in a tax and regulatory efficient manner. Also constituted and authorized a Committee to recommend the final roadmap for reorganization of its Businesses, including making applications with appropriate government, regulatory and statutory authorities in this process and taking all necessary steps in this regard. The Company will keep the Exchanges informed in this regard.
• 1. In terms of the Company's Employees Stock Option Scheme 2010 (ESOP 2010), the Nomination and Remuneration Committee of the Board in its meeting held on July 21, 2021 have granted to eligible employees the following
• a) 14,00,000 options exercisable into equal number of fully paid-up equity shares of the Company, at an exercise price of Rs.2/- per option. These stock options shall vest over a period of five years and shall be capable of being exercised within a period of five years from the date of vesting.
• b) 2,30,000 options exercisable into equal number of fully paid-up equity shares of the Company, at an exercise price of Rs.2/- per option. These stock options shall vest over a period of four years and shall be capable of being exercised within a period of five years from the date of vesting.

We request you to take the aforesaid on records.

Thanking you.

Yours sincerely, For Sterlite Technologies Limited

Amit Deshpande Company Secretary & Corporate General Counsel (ACS 17551) Enclosures: As above

PRESS RELEASE

STL records robust results - continues global expansion

• New acquisition for Network Integration capabilities in Europe
• Investments in UK and US to augment local presence in optical fibre
• Healthy order book of Rs 112 billion with top-tier global wins

Pune, India – 22 July 2021: STL [NSE: STLTECH], an industry leading integrator of digital networks, today announced financial results for the first quarter ended June 30, 2021. The company recorded a strong cumulative order book of over Rs. 112 billion and revenue of Rs. 13.09 billion, backed by solid technology solutions and foundational capabilities.

Significant progress on focused global capability build strategy

To cater to the three network build cycles of 5G, FTTx and Rural broadband, STL continues to make consistent efforts to scale-up its global capabilities and develop industry-leading technology solutions. The company's three growth levers – Globalise system integration, Grow optical business, and Build disruptive wireless solutions - are now yielding results.

Globalise System Integration

• Strategic acquisition in Europe STL today announced that it will acquire Clearcomm Group - a leading Network Integration company in the UK to further globalise its system integration business. The combined capability of STL and Clearcomm will enable the company to greatly contribute towards 'Project Gigabit'. This move combined with the existing data centre integration capabilities will further augment STL's presence in network integration in UK and Europe
• During the quarter, STL also received its first FTTx orders in the UK for its network integration services business

Grow Optical Business

• Capacity enhancement to 42 Mn fKm with Investments in US and UK Committing Rs. 2 billion investments to establish optical fibre cable manufacturing and R&D labs in the UK and US. Through these plans, the company confirmed its plans to increase the OFC capacity to 42 Mn fKm, from an existing 33 Mn fKm
• Leveraging Optical Interconnect capabilities With the acquisition of Optotec earlier this year, the company's portfolio for end-to-end FTTx has opened up a total optical solutions addressable market of US\$ 18 billion
• Successful field trials for Programmable FTTx - The company crossed a significant milestone by successfully integrating its pFTTx solution in the live broadband access network of Chunghwa Telecom

Build disruptive, wireless solutions

• Recognized for leading technology solutions: STL has been acknowledged by Gartner as a global 5G RAN vendor, and as an Enabler in the Digital Marketplace and OSS/BSS Telecom customer software solutions
• Research and Development efforts: The company has committed 3-4% of its revenues towards R&D for research and innovation in optical and wireless technologies

As global trends re-energise, STL has been delivering on its financial plan. The company has demonstrated improvement across all financial metrics.

P&L (Rs billion.)	Q1 - FY' 22	Q1 - FY' 21	YoY growth
Revenue	13.09	8.76	49%
EBITDA	2.38	1.31	82%
PAT	1.16	0.06

Financial highlights (in Rs. billion)

Delivered responsibly, with strong ESG focus

During the tough second wave of Covid-19, STL continued to maintain a strong focus on ESG. The company's CSR initiatives positively impacted over 180,000 lives. STL's environmentally conscious efforts were recognised widely across the Asian Leaders Awards for Waste Management and Best Corporate Responsibility Practices.

Explaining these strategic moves and achievements, Dr. Anand Agarwal, Group CEO, STL, remarked, "During the current unprecedented times, STL continues to provide support in the form of extended services and stronger connectivity to our community and customers. We take pride in solving our customers' challenges through our global end-to-end solutions." He added, "In anticipation of the shifts in the industry, STL has continued to strengthen its technology capabilities through investment in developing ecosystems and hiring top industry talent. As we increase our participation in our customers' digital transformation, we have built a healthy order book, and are confident of delivering the most advanced digital networks for our customers."

About STL - Sterlite Technologies Ltd:

STL is an industry-leading integrator of digital networks.

Our fully 5G ready digital network solutions help telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. STL provides integrated 5G ready endto-end solutions ranging from wired to wireless, design to deployment and connectivity to compute. Our core capabilities lie in Optical Interconnect, Virtualised Access Solutions, Network Software and System Integration.

We believe in harnessing technology to create a world with next-generation connected experiences that transform everyday living. With a global patent portfolio of 582 to our credit, we conduct fundamental research in next-generation network applications at our Centres of Excellence. STL has a strong global presence with next-gen optical preform, fibre, cable and interconnect subsystem manufacturing facilities in India, Italy, China and Brazil, along with two software-development centres across India and one data Centre design facility in the UK.

stl.tech |Twitter | LinkedIn | YouTube

For more information, contact:

Media Relations	Agency Contact	Investor Relations
Khushboo Chawla	Guneet Kaur	Pankaj Dhawan
Phone: +91. 9711619114	Phone: +91-8968909392	Phone: +91. 8130788887
khushboo.chawla@stl.tech	Guneet.kaur@genesis-bcw.com	pankaj.dhawan@stl.tech

Enabling digital transformation @ the edge

Earnings Call Q1 FY22

22nd July 2021

stl.tech

Safe Harbour

Certain words and statements in this communication concerning Sterlite Technologies Limited ("the Company") and its prospects, and other statements relating to the Company's expected financial position, business strategy, the future development of the Company's operations and the general economy in India & global markets, are forward looking statements.

Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company, or industry results, to differ materially from those expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future.

The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of the Company's industry, and changes in general economic, business and credit conditions in India.

The information contained in this presentation is only current as of its date and has not been independently verified. No express or implied representation or warranty is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company.

The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes.

Persons should consult their own financial or tax adviser if in doubt about the treatment of the transaction for themselves

These materials are confidential, are being given solely for your information and for your use, and may not be copied, reproduced or redistributed to any other person in any manner. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions

Anand Agarwal

Group CEO and Whole Time Director

A strong believer in the transformational power of technology, Anand has navigated STL from an optical connectivity company to a global leader in end-to-end network solutions. With his disruptive efforts, Anand has scaled the organisation to over 100 geographies, while shaping the digital infrastructure landscape globally. As a flagbearer of culture and diversity, he has built a passionate and inclusive organisation that is strongly connected to its larger purpose of transforming billions of lives through digital networks

STLescope 2021, unraveled the future of digital networks

STLescope 2021

1. Delivering on growth levers

2. Strengthened foundational capabilities

3. Q&A 4. Robust financial performance

In STLescope 2021, we discussed...

A decade long network creation cycle has started 1 2

Driven by 5G, FTTx and Rural Connectivity

We are well poised to leverage this cycle

With an increased TAM - Total Addressable Market of \$40 bn.

A Focused strategy for growth

With three growth levers

The decade long network creation cycle is driven by 5G, FTTx and Rural connectivity

5G is the fastest growing technology

• 5G is now globally available with over 173 commercial networks
• 5G subscribers base expected to hit 2 bn. by 2023 and 4.4 bn. by 2026

FTTx connects many end points

• In Europe, FTTH/B subs is expected to double in next 6 years to 208 mn.
• In India, fibre broadband subs is expected to reach 10 mn. by 2025

Rural Connectivity takes centre- stage

• US President announced \$65 bn. investment in rural broadband
• India announced Rs. 19,000 Cr. as viability gap funding for Bharatnet

The decade long digital network creation cycle is here!

Our TAM has expanded 5x in the last 5 years to reach \$40 bn.

TAM has increased 5x,

Continuous focus on increasing market share in the higher TAM

We have three focused levers for growth

Our three growth levers are delivering

1. STLescope 2021

Delivering on growth levers

1. Strengthened foundational capabilities

2. Robust financial 5. Q&A performance

1

Grow Optical Business -

Continued growth in Opticonn market share

End-to-end optical solutions from STL

• STL market share grew to ~6.5% in Q1 FY 22
• Industry optical fibre volume grew by 6.3 % YoY to 131 mn. fkm in Q1 FY 22

• STL recorded double digit revenue growth in optical interconnect business on QoQ basis in Q1 FY 22
• Increasing opticonn penetration with key customers

2

Globalise System Integration Business -

We have secured our first order in the UK

Planned Home passes in UK (Mn)

We are capitalizing on it

Our first win

£12 Mn.

• Partnership with a leading provider of telecom solutions in UK
• STL along with partner shall deploy FTTx mantra to connect homes with broadband in London
• Project is expected to be completed in the current fiscal year

Globalise System Integration Business -

Acquired a UK networks specialist - Clearcomm to accelerate in Europe

Clearcomm - an overview

• Provider of end-to-end optical network integration services to Telcos in the UK, with a track record of over a decade
• Has long-standing relationships with marquee customers and suppliers, Strong reputation as reliable and agile delivery partner
• Well placed to leverage the fiberisation wave

Financial Profile and Key Facts

~£20Mn Revenue (FY20*)	26% 3-Year CAGR	UK
~50 Employees	15 days Working Capital Days #	Headquarters

Rationale for Acquisition

Solid Platform to grow the System integration business in the UK

* Financial year ending in November

Excluding retention amount from debtors and creditors

© 2021-2022 Sterlite Technologies Limited 12

Build Access Solutions –

Pilot with Chunghwa successful; Co-developing Radio with Facebook Connectivity

• Successfully completed a proof-of-concept for programmable FTTx software solutions
• STL's fully virtualized OLT software stack will enable Chunghwa to upgrade its GPON to XGS-PON
• STL's pFTTx software stack brings more flexibility, cost efficiency and service excellence to edge networks

• Entered a strategic collaboration with Facebook Connectivity to co-develop general purpose radio units under Evenstar Program
• The Evenstar program is a collaborative effort by Facebook Connectivity and global Industry partners to accelerate the adoption of open RAN technology
• STL aims to strengthen its product development, promotion and supply chain through this collaboration

Developing Radio units manufacturing ecosystem in India

First revenue recognised in access solutions in Q1FY'22 by successfully delivering new standard Wifi 6 hardware to our KAM customer in Asia Pac

Strengthened foundational capabilities

1. STLescope 2021

© 2021-2022 Sterlite Technologies Limited

1. Delivering on growth levers

Strengthened foundational capabilities

1. Robust financial 5. Q&A performance

STL has been investing in these foundational capabilities

We have launched an end-to-end access solution - Accellus

Global Recognition

• Recognised as a leading 5G RAN vendor by Gartner
• STL mentioned as an Enabler for enhanced partner ecosystem support in Digital Marketplace

• Top 60 Edge computing companies to watch in 2021.
• Top 10 RAN vendors to watch out for in 2021 by STL partners

● BCG Top 100 Tech Challenger

Our Key account focus is leading to multi-portfolio engagements

We have announced optical capacity expansion to 42 mn. fkm.

Our R&D focus is to develop a comprehensive product line for accellus

We have build a global leadership team, and are now building team strength globally

We, STLErs, stood strong together in this pandemic

Top Talent & Culture

Forever STLer

STL support to dependents in case of employee's demise

360 degree program

• o Employment
• o Medical cover
• o Education
• o Skill Building

25+ STL Family team at all locations

Symptoms to post treatment care

• o Telemedicine
• o Important Resources Support
• o Mental/Emotional wellbeing

We are on our path to deliver our financial targets

1. STLescope 2021

© 2021-2022 Sterlite Technologies Limited

1. Delivering on growth levers

2. Strengthened foundational capabilities

Robust financial

performance

1. Q&A

Mihir Modi

Chief Financial Officer

A prolific professional, Mihir has more than 20 years of experience in Finance, M&A, Strategy, and General Management. As the Chief Financial Officer of STL, Mihir is actively working towards delivering consistent shareholder value through strong financial performance, deep industry alliances and high internal efficiencies.

Prior to joining STL, Mihir co-founded a contemporary digital media content company based in Mumbai. He has also worked as Chief Strategy Officer & CFO at Zee Entertainment, and also held key leadership positions at Godrej Consumer Products, Novartis Pharma and Ernst & Young.

Our order book is growing

Revenue mix is moving to geographies and segments of choice

Customer Segments

Geographical Distribution

Key Order Wins Q1 FY22

• Multi-million dollar deal with a large European telco for the Opticonn solution
• Incremental order for Lead360 from a large Indian Telco
• Strategic Partnership with a leading Telecom solution provider in UK to connect homes to broadband by deploying FTTx Mantra

© 2021-2022 Sterlite Technologies Limited 25

Our project execution is running at full-speed after the pandemic-led challenges of Q1 FY22

Q1 FY22 performance has been robust

1.31 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 1.24 1.16 • Our Optical business continues to grow

• Our project execution was below normal due to second wave of the Covid-19 pandemic in India.
• We expect to go back to QoQ growth momentum from Q2 FY22 onwards.

PAT (Rs. bn.)

We plan to reach Rs. 100 bn. annualised run rate by Q4 FY23 We plan to reach Rs. 100 bn. annualised revenue run rate by Q4 FY23 59 Annualised Run rate at Q4 FY21 Increase in optical revenue, normalised project execution Q1 FY22 Below normal Project execution Q2 FY22 Increase in OFC Volume & Incremental OI Revenue Grow Optical Connectivity Services Foray in Europe & Increase in O&M Revenue 100 Build Access Solutions Globalise System Integration New Portfolio Mutli band Radio, Small cell, Wi-fi6 & pFTTx Annualised Run rate at Q4 FY23 Revenue Bridge ( Rs. bn. )

Financials: Abridged Version

P&L (INR bn.)	Q1 FY22	Q4 FY21	Q1 FY21
Revenue	13.09	14.75	8.76
EBIDTA	2.38	2.73	1.31
EBITDA %	18%	19%	15%
Depreciation	0.70	0.61	0.74
EBIT	1.69	2.12	0.57
Interest	0.49	0.53	0.50
Exceptional Item	0.16
PBT	1.35	1.58	0.07
Tax	0.38	0.50	0.04
Net Income after minority interest	1.16	1.24	0.06

COVID-19 impacted performance and Projects execution

We are committed to deliver our financial targets

We are also committed to deliver on our ESG targets

World's 1st ZWL Certified

135,000+ MT Waste diverted from landfills

97% Of waste recycled and reused

800+ MT Plastic saved through innovative packaging

3R Approach to reduce, reuse, recycle

Committed towards UN** Sustainability Goals

100% Manufacturing locations to be ZWL certified Water Positivity globally Sustainable Sourcing

50%, 7,500+ tCO2e Reduction in carbon footprint

1.15M+ m3 Water recycled and reused at STL and replenished in surrounding communities

Global Board with strong internal governance

57% Global Advisory Council led by transformative technology leaders

25% diversity in Independent Directors

Two of the Big Four as statutory & Internal auditors

Executive Committee and Management Committee for each business in place Strict Adherence to the Code of Conduct TRANSFORMING

1.64M+ lives impacted

3,500+ Rural women Empowered

1,400+

Individuals digitally empowered

50 ESG Awards won including 7 global

Targeting 5 M by 2025

• Impacting 5M lives

• Undertaking 5M plantations
• ESG Goals Replenishing 5M cubic meters of water in communities

We are in a decade long network creation cycle driven by 5G, FTTx and rural connectivity programs.

In the last 5 years, our TAM has increased 5x to \$40 bn. Now our focus is to increase our market share in the \$40 bn. TAM

Our 3 growth levers of grow optical business, globalise system integration and build access solutions have started delivering results.

We are strengthening our foundational capabilities of E2E solutions, KAM approach, Ecosystem Investments and top talent & culture to expand globally.

We plan to reach Rs. 100 bn. revenue run rate by Q4 FY23 along with Net debt/equity < 0.5 and RoCE > 20%

Let's answer your questions

1. STLescope 2021

2. Delivering on growth levers

3. Strengthened foundational capabilities 4. Robust financial performance

© 2021-2022 Sterlite Technologies Limited

beyond tomorrow

PRESS RELEASE

STL acquires Clearcomm, a UKbased Network Integration Company

• Globalising STL's Network Integration Business, with local strength in UK and Europe - Complements Data Centre interconnect capabilities in Europe with FTTx and network integration creating a unique end-to-end proposition

London, UK July 22nd 2021 STL (NSE: STLTECH), an industry leading integrator of digital networks, today announced the acquisition of Clearcomm Group Ltd, a UK based network integration company.

As network creators across the world deploy large scale networks for 5G, FTTx and Rural use cases, STL has been enhancing its end-to-end network and system integration solutions across the globe. As a part of this global strategy, STL is acquiring UK-based Clearcomm Group, to enhance the presence of its Network Integration solutions across UK and Europe.

Clearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK. Clearcomm has long standing relationships with marquee customers in the UK, with over a decade of experience. It has been generating profitable growth with revenues in the range of GBP 20 million and growth rates of over 25% over the past 3 years. Clearcomm has achieved this by developing an excellent delivery model for large scale FTTx network integration projects. These specialisations complement STL's existing leadership in Optical Connectivity and Data centre integration solutions, to create a differentiated value proposition for building national-scale, cloudenabled, next-generation digital networks.

The transaction is structured to acquire 100% of the share capital in 2 tranches. Tranche 1 entails acquisition of 80% of the share capital which will happen immediately (subject to customary pre-closing conditions), and is based on an Enterprise Value of GBP 15.5 million. The balance 20% shareholding will be acquired in 2023.

Commenting on this development Stuart Evans and Richard Breffitt, Managing Directors, Clearcomm Group remarked, "STL has a global vision for enabling digital transformation, and has set off on an exciting growth journey. We, at Clearcomm, are looking forward to adding value with our network integration specialisation and being an integral part of this growth story."

Welcoming Clearcomm on board, Dr Anand Agarwal, Group CEO, STL said "As digital infrastructure investments are increasing across the globe, STL is globalising its System Integration solutions to help build these advanced networks. With the addition of Clearcomm's network integration expertise to STL's Optical Connectivity and Data Centre integration capabilities, we are uniquely positioned to help our customers deliver the most advanced, deep-fiberised digital networks."

About STL - Sterlite Technologies Ltd:

STL is an industry-leading integrator of digital networks.

Our fully 5G ready digital network solutions help telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. STL provides integrated 5G ready endto-end solutions ranging from wired to wireless, design to deployment and connectivity to compute. Our core capabilities lie in Optical Interconnect, Virtualised Access Solutions, Network Software and System Integration.

We believe in harnessing technology to create a world with next-generation connected experiences that transform everyday living. With a global patent portfolio of 582 to our credit, we conduct fundamental research in next-generation network applications at our Centres of Excellence. STL has a strong global presence with next-gen optical preform, fibre, cable and interconnect subsystem manufacturing facilities in India, Italy, China and Brazil, along with two software-development centres across India and one data Centre design facility in the UK.

stl.tech |Twitter | LinkedIn | YouTube

For more information, contact:

Media Relations	Agency Contact	Investor Relations
Khushboo Chawla	Guneet Kaur	Pankaj Dhawan
Phone: +91. 9711619114	Phone: +91-8968909392	Phone: +91. 8130788887
khushboo.chawla@stl.tech	Guneet.kaur@genesis-bcw.com	pankaj.dhawan@stl.tech

stl.tech

Acquisition of Clearcomm

UK Based Network Integration Company

Certain words and statements in this communication concerning Sterlite Technologies Limited ("the Company") and its prospects, and other statements relating to the Company's expected financial position, business strategy, the future development of the Company's operations and the general economy in India & global markets, are forward looking statements.

Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company, or industry results, to differ materially from those expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future.

The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of the Company's industry, and changes in general economic, business and credit conditions in India.

The information contained in this presentation is only current as of its date and has not been independently verified. No express or implied representation or warranty is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company.

The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes.

Persons should consult their own financial or tax adviser if in doubt about the treatment of the transaction for themselves

These materials are confidential, are being given solely for your information and for your use, and may not be copied, reproduced or redistributed to any other person in any manner. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions

Successful Track Record of Entering New Markets and Businesses through M&A

Strengthening our market presence by augmenting capabilities through M&A and Investments

Compelling Rationale to Globalise Network and System Integration through UK Market entry

• Transaction is structured to acquire 100% stake in 2

• First Tranche - acquisition of 80% of shareholding • Second Tranche – balance 20% shareholding will be

tranches

acquired in 2023

Company overview

• Clearcomm provides end-to-end network integration solutions to customers who are Tier-1 suppliers to telcos in the UK.
• Well positioned to capitalize on the fiberisation wave in the UK through long-standing relationships with marquee customers and suppliers
• Strong reputation among its customers; considered as a reliable and agile delivery partner

Financial Profile and Key Facts ~£20Mn Revenue (FY20*) 26% 3-Year CAGR ~50 Employees 15 days Working Capital Days # Enterprise Value Mix of internal accruals and foreign currency debt instruments Financing • First Tranche shares will be acquired at an Enterprise Value, of Approx. £15.5Mn (15.5 Million GBP) for 100% of the Company's Capital

*Financial year ending in November # Excluding retention debtors and creditors

Deal Highlights

Structure

Integration Strategy

Structure

Clearcomm will be completely integrated into our Network and System Integration Business

Existing founders to continue to be part of the business with an experienced team

Realization of Synergies

Leverage on-ground presence in the UK and Customer relationships with Tier-1 Telcos

Accelerate the expansion of Network and System Integration Business in UK and build scalability

Future Growth

Enhance service portfolio to provide maintenance and installation services

Clearcomm and STL – Create a Market Leading Strategic Position

Unique value proposition to Customers for an end-to-end solution

Solid Platform to expand Network and System integration business in the UK

Clearcomm - Alignment with Growth Lever and UK Network Integration Strategy

Globalise

System Integration business and build scale in India

• Expertise across network layers and geographies
• Foundation with Lead 360 and Netmode and power of Opticonn
• Global expansion plans

• Complements IDS' Data centre interconnect capabilities with FTTx integration capabilities
• Platform for UK market access
• Excellent delivery model to seamlessly execute network integration projects

beyond tomorrow

Clearcomm Group Limited Acquisition - Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

S.No	Particulars	Description
A	Name of the target entity, details in brief such as size, turnover etc.	Target Name: Clearcomm Group Limited
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	Network Integration Solutions
D	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	As a part of the global strategy of enhancing its end-to-end network and system integration solutions, STL is acquiring Clearcomm Group. This will create a platform for growth and augment the presence of STL's Network Integration solutions across UK and Europe.
E	Brief details of any governmental or regulatory approvals required for the acquisition	None
F	Indicative time period for completion of the acquisition	First tranche (representing 80% shareholding) will be acquired subject to completion of customary pre closing conditions Second tranche (representing balance 20% shareholding) will be acquired in 2023
G	Nature of consideration- whether cash consideration or share swap and details of the same	Cash consideration
H	Cost of acquisition or the price at which the shares are acquired	First tranche shares (representing 80% shareholding) will be acquired at an Enterprise Value of Approx. £15.5Mn (15.5 Million GBP) for 100% of the Company's capital Second tranche shares representing a 20% stake in the Company will be acquired based on the Enterprise value of the Company in FY22 (Dec 21- Nov 22)
I	Shareholding percentage acquired	80% will be acquired in the first tranche subject to customary pre-closing conditions. Residual 20% stake will be acquired in 2023.

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 has presence and any other significant information (in brief)

Clearcomm Group Limited is a UK based network integration solutions company

Turnover: ~£20Mn (approximately 20 Million GBP)

For Sterlite Technologies Limited

Amit Deshpande Company Secretary & Corporate General Counsel (ACS 17551)

STl! www.stl.tech

STERLITE TECHNOLOGIES LIMITED (CIN: L31300PN2000PLC202408)

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

		(Rs. in Crores except earning per share) Quarter ended
Particulars	The starts (Unaudited)	HALL (Unsudited)	JUILED (Unaudited)	War 21 (Audited)
Revenue from operations	1,309.23	1,475.01	876.20	4,825.18
Other income	6.53	16.45	9.53	42.97
Total Income	1,315.76	1.491.46	885.73	4,868.15
Total Expenditure	1,196.64	1,333.15	878.76	4,502.79
Cost of materials consumed	850.78	854.05	396.51	2,534.14
Purchase of stock-in-trade	1.90		0.31	0.69
(Inc) / Dec in finished goods, stock-in-trade & WIP	(71, 87)	(117.77)	21.51	(139.90)
Employee benefits expense	193.37	179.08	147.06	647.42
Finance Costs	49.42	53.39	50.05	203.00
Depreciation and amortisation expense	69.89	61.23	74.19	285,26
Other expenses	294.17	303.17	189.13	972.18
Profit before tax & share of net profits of investments accounted using equity method	119.12	158.31	6.97	365.36
Share of Profit / (Loss) of Joint Venlure and Associate Company	8.73	14.86		14.85
Profit before exceptional item and tax	127,85	173.17	6.97	380.22
Exceptional Item (Refer note 5)	16.23		٠
Profit before tax	144.08	173.17	6.97	380.22
Tax expense:	38.38	50.34	4.12	111.27
Current tax	42.24	38.14	8.16	93 51
Deferred tax	(3.66)	12.20	(4.04)	17.76
Net Profit after Tax & Share in Profit / (Loss) of Joint Venture and Associate Company	105,70	122.83	2.85	268,95
Loss from discontinued operations (Refer Note 6)	1.29	(0.90)	(0.59)	[3.59]
Net Profit for the period	106.99	121.93	2.26	265.38
Other Comprehensive income
A. i) Ilems that will be reclassified to Profit or Loss	(1.49)	972	6.21	37.33
ii) Income tax relating to these items	1.88	(1.48)	0.23	1.73
B. i) Items that will not be reclassified to Profit or Loss	۰	3.29	$\ddot{\phantom{1}}$	3.29
ii) Income tax relating to these items		(0.83)		(0.83)
Other comprehensive income	0.39	10.70	6,44	41.52
Total comprehensive income for the period	107.38	132.63	8.70	306.88
Net Profit attributable to
a) Owners of the Company	115.75	124.40	5.96	275.47
b) Non controlling Interest	(8.76)	(2.47)	(3.70)	(30.11)
Other Comprehensive income attributable to
a) Owners of the Company	(2.53)	11.24	5.83	35.61
b) Non controlling Interest	292	(0.54)	0.61	5.91
Total comprehensive income attributable to
a) Owners of the Company	113 22	135.64	11.79	311.08
b) Non controlling interest	(5.84)	(3.01)	(3.09)	(4.20)
Paid-up Equity Capital (Face value Rs 2 per share)	79.34	79.33	79.89	79.33
Other equity including debenture redemption reserve				1,906.05
Earning Per Share (Rs.)- Basic	2.92	3.13	0.15	8.93
Eaming Per Share (Rs.)- Diluted	2.89	3.10	0.15	6胜

www.stl.tedl

•-

STERLITE TECHNOLOGIES LIMITED (CIN : L31300PN2000PLC202408) STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

	(Rs. in Crores except earning per share) Quadlr ndld Vi
Particulars
Revenue from operations	1,122.49	1,304.22	745.16	4,142.01
Other income	8.12	34.24	7.63	57.67
Total Income	1,130.61	1,338.46	752.79	4,189.68
Total Expenditure	1.012.22	1,181.19	719.70	3,833.99
Cost of materials consumed	549.51	686.15	326.34	2,115.32
Purchase of stock-in-trade	1.52		0.31	0,69
(Inc)/ Dec in finished goods, stock-in-trade & WIP	(25.65)	(33.97)	15.97	(30.11)
Employee benefits expense	136.21	142.41	116.21	491 .97
Finance Costs	46.211	53.62	46.32	189.71
Depreciation and amortisation expense	49.90	49.26	57.90	215.10
Other expenses	254.49	283.72	156.65	851.31
Profit before exceptional item and tax	118.39	157.27	33.09	365.69
Exceptional Item (Refer note 5)	52.75
Profit before tax	171.14	157.27	33.09	385.69
Tax expense :	39.88	48.07	9.23	104.28
Current tax	34_a7	33.23	7.07	75.23
Deferred tax		14.84	2.16	29.05
Net profit for the period		109.20	23.86
Other Comprehensive income
A i) Items that will be reclassified to Profit or Loss		11.27	(0.92)
ii) Income tax relating to these items		(2.84)	0.23
B. i) Items that will not be reclassified to Profit or Loss		3.29
ii) Income tax relating to these items		(0.83)
Other comprehensive income	(4.32)	10.89	(0.69)	1.35
Total comprehensive income for the period	126.JM	120.09	23.17	262.76
Paid-up Equity Capital (Face value Rs.2 per share)	79.34	79.33	79.89	79.33
Earning Per Share (Rs.)- Basic	3.31	2.75	0.59	6.57
Earning Per Share (Rs.)- Diluted	3.28	2.72	0.59	8.50
Debenture Redemption Reserve				37.50
Other equity including debenture redemption reserve Debt equity ratio (Refer note 7)
Debt service coverage ratio (Refer note 7)
Interest Service coverage ratio (Refer note 7)

STl! www.stl.tech

Notes:

1,The above results have been reviewed by the Audit Committee. The Board of Directors at its meeting held on July 22, 2021 have approved the above results.

2.The above statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind-AS) pie:;cribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable

1. The Company has only one operating segment which is Connectivity and Network Solutions (earlier known as ''Telecom Products and Solutions"). Accordingly, separate segment information is not required to be disclosed,

2. Management has made an assessment of the impact of CDVID 19 in preparation of these financial results. Management has considered all relevant external and internal factors in the measurement of assets and liabilities including recoverability of carrying values of its assets, ils liquidity position and ability to repay debts. No adjustment to key estimates and judgements that impact the financial results have t>een Identified. Since telecom networks have been identified as an essential service, the Group is operating at its normal operating capacity at all locallons. However, the impact assessment of COVID19 will be a continuing process given the uncertainties associated with its nature and duration and no significant impact is envisaged on the operations.

5, The amount of Rs, 52.75 crores reported under exceptional items in the standalone financial results includes profit of Rs. 67 crares recogni sed on account of transfer of land situated at Hyderabad. The amount also includes provision of Rs.14.25 crores with respect to an order against the Company for claim filed by a vendor for non-fulfilment of certain contractually agreed offtake obligations.

In addition to the exceptional items reported in the standalone financials results as stated above, the amount of exceptional items in the consolidated financial results includes a charge of Rs. 7 83 crores towards cancellation of a lease agreement by STI US (wholly owned subsidiary) and an impairment charge of Rs. 28.69 crores for the assets of JSTFCL (a subsidiary) basis the assessment of recoverable value of assets performed by Management.

1. Loss from discontinued operations pertains to Maharashtra Transmission Communication Infrastructure Limited, a subsidiary of the Company. Management had filed a fresh application with Department of Telecommunication for transfer of the entity after its earlier application had been rejected. The Department of Telecommunication has currently closed the application citing lack of clarity with respect to certain aspects in the application. Management is working towards resolving the concerns and is committed to the sale of MTCIL post resolving the concerns and obtaining requisite regulatory approvals.

7 Formulae for computation of ratios are based on standalone financial results and balance sheet which are as follows:

Debt Service Coverage Ratio= Earnings before interest and tax/ (interest expense+ principal term loan repayment) Interest Service Coverage Ratio= Earnings before Interest and Tax /Interest Expense

For Debt Service Coverage Ratio and Interest Service Coverage Ratio computation:

• Earnings before interest and tax includes Profit Before Tax after exceptional item+ Interest expense

• Interest expenses include finance costs as per standalone financial results

For paid up debt capital and debt equity ratio computation:

• Debt includes long-term borrowings+ short term borrowings + current maturities of long-term borrowings.

• Equity includes equity share capital and other equity as per standalone financial results

1. Credit rating for the existing Non- Convertible Redeemable Debentures (NCO) is CRISIL AA Stable. Credit rating for the outstending commercral papers ICRA A1+ and CRISIL A1+,

2. The Company has maintained minimum required assets cover ratio of 1.1 times as per debenture issue terms of non coverlJble debentures carrying interest @ 7.30% p.a. and assets cover ratio of 1.25 times of non covertible debentures carrying interest @ 8,25% whl'oh signifies adequate security. Debentures are secured by way of first pari passu charge on entire movable fixed assets (both present and future) and mortgage of certain immovable fixed assets of the Company.

3. The Company has paid the interest on NCO on due dates. Details of previous and next due date of payment of interest and principal cf NCO is as follow:-

S.No. Security Desaiption ISIN		Previous due date for payment		Next due date for i:aavment
			Principal I Interest	Principal I .Interest
l 8.25% NCDs	IN E089C07109 N .A.		I N .A.	24-Mar-281 25-Mar-22
2 7.30% NCDs	INE089C07117 N.A.		1,N,A.	N-Mar-241 31-Mar-22,

11 Details of previous and next due date of principal of CPs are as follow:-

	S.No. Security Description ISIN		Previous due date		Next due date for
				Principal Interest	Principal Interest
1	CP-4 75%	IN E089C14AY4	N.A.		2g.Apr-21 21-Jul-21	N.A.
2	CP-4.81%	INE089C14AX6	N.A.		28-Apr-21 27-Jul-21	N.A.
3	CP-4.80%	INE089C14AZ1	N.A,		12-May-21 10-Aug-21	N.A.
4	CP-4,50%	INE089C14BB0	N.A.		04-Jun-21 02-Sep-21	N.A.
5	CP-4.75%	IN E089C148C8	N.A.		21-Jun-21 17-Sep-21 N.A.
6	CP-4.70%	INE089C14BA2	N.A.		24-May-21 17-Nov-21 N.A.

1. The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity The draft rules for the Code on Social Security, 2020 have been released by the Ministry of Labour and Employment on November 13, 2020. The Company and its Indian subsidiaries are in the process of assessing the additional impact on Provident Fund contributions and on Gratuity liability contributions and will complete their evaluation and give appropriate impact in the financial statements in the period in which the rules that are notified become effective.

2. The Group, through its subsidiary Sterlite Optical Interconnect S.p.A. has acquired 100% of the shares of Optotec S.p.A. (Optotec) Including its wholly owned subsidiary, Optotec International S.A for a purchase consideration of EUR 29.9 million as per share purchase agreemenl dated November 02, 2020 as amended on January 8, 2021 .

The purchase price has been allocated to assets and liabilities on a provisional basis as per Ind AS 103 - Business Combinations resulting In provisional goodwill of EUR 18.8 million pending completion of purchase price allocation. Due to acquisition the numbers of the current period are not comparable to the previous periods disclosed

1. The registered office of the company is shifted from E 1, MIDC Industrial Area, Waluj, Aurangabad, Maharashtra - 431136 to 4th Floor, Godrej Millennium, Koregaon Road 9, STS 1211, Pune, Maharashtra- 411001 with effect from July 06, 2021

15, Previous period figures have been regrouped I rearranged wherever considered necessary

Place: San Francisco, USA For and on behalf of the Board of Directors of Date; July 22, 2021 Sterlite Technologies Limited ~ Dr Anand Agarwal

CEO & Whole-time Director DIN : 00057364

Registered office: Sterlite Technologies Limited, 4th Floor, Godrej Millennium, Koregaon Road 9, STS 1211, Pune, Maharashtra-411001 WWW.SU.tech Telephone : +91 20 30514000 Fax: +912030514113

To, The Board of Directors, Sterlite Technologies Limited 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411001.

• 1. We have reviewed the unaudited consolidated financial results of Sterlite Technologies Limited (the "Parent"), its subsidiaries (the parent and its subsidiaries hereinafter referred to as the "Group"), jointly controlled entity and associate companies for the quarter ended June 30, 2021 which are included in the accompanying Consolidated Financial Results, together with notes thereon (the "Statement"). The Statement is being submitted by the Parent pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"), which has been initialled by us for identification purposes.
• 1. This Statement, which is the responsibility of the Parent's Management and has been approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Price Waterhouse Chartered Accountants LLP, 7th Floor, Tower A- Wing 1, Business Bay, Airport Road Yerwada, Pune - 411 006 T: +91 (20) 41004444, F: +91 (20) 41006161

Registered office and Head office: Sucheta Bhawan, 11 A Vishnu Digambar Marg, New Delhi 110 002

Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N)

1. The Statement includes the results of the following entities:

Sr.No.	Name of the entity	Relationship
1	Speedon Network Limited	Subsidiary
2	Metallurgica Bresciana S.p.A	Subsidiary
3	Sterlite Tech Cables Solutions Limited	Subsidiary
4	Sterlite Innovative Solutions Limited	Subsidiary
5	STL Digital Limited	Subsidiary
6	Maharashtra Transmission Communication Infrastructure Limited	Subsidiary
7	Sterlite Global Ventures (Mauritius) Limited	Subsidiary
8	Sterlite (Shanghai) Trading Company Limited	Subsidiary
9	Sterlite Technologies UK Ventures Limited	Subsidiary
10	Elitecore Technologies SDN. BHD	Subsidiary
11	Sterlite Tech Holding Inc	Subsidiary
12	PT Sterlite Technologies Indonesia	Subsidiary
13	Sterlite Technologies DMCC	Subsidiary
14	STL Optical Interconnect S.p.A.	Subsidiary
15	Sterlite Technologies Pty Ltd	Subsidiary
16	STL Networks Limited	Subsidiary
17	STL UK Holdco Limited	Subsidiary
18	Sterlite Telesvstems Limited	Step down subsidiary
19	Jiangsu Sterlite and Tongguang Fibre Co. Ltd	Step down subsidiary
20	Sterlite Technologies Inc	Step down Subsidiary
21	Elitecore Technologies (Mauritius) Limited	Step down Subsidiary
22	Impact Data Solutions Limited	Step down subsidiary
23	Impact Data Solutions B.V.	Step down subsidiazy
24	Vulcan Data Centre Solutions Limited	Step down subsidiary
25	Optotec S.p.A.	Step down subsidiary
26	Optotec International S.A	Step down subsidiary
27	STL Edge Networks Inc	Step down subsidiary
28	STL Tech Solutions Limited	Step down subsidiary
29	Sterlite Conduspar Industrial Ltda	Jointly Controlled Entity
30	MB Maanshan Special Cables Co. Ltd.	Associate Company
31	ASOCS	Associate Company

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. The consolidated unaudited financial results include the interim financial information of twenty-five subsidiaries which have not been reviewed by their auditors, whose interim financial information reflect total revenue of Rs. 156.09 crores, total net loss after tax of Rs. 40.06 crores and total comprehensive loss of Rs. 30.38 crores for the quarter ended June 30, 2021, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group's share of net profit after tax of Rs. 8. 73 crores and total comprehensive income of Rs. 8. 73 crores for the quarter ended June 30, 2021, as considered in the consolidated unaudited financial results, in respect of two associate companies and one jointly controlled entity, based on their interim financial information which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016

~v

Neeraj Sharma Partner Membership Number: 108391 UDIN: 21108391.AAAAF A5034

Pune July 22, 2021

To, The Board of Directors, Sterlite Technologies Limited 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411001.

• 1. We have reviewed the unaudited financial results of Sterlite Technologies Limited (the "Company") for the quarter ended June 30, 2021 which are included in the accompanying Standalone Financial Results, together with notes thereon (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016

~ Sharma

N eeraj Partner Membership Number: 108391 UDIN: 21108391AAAAEZ5866

Pune July 22, 2021

Price Waterhouse Chartered Accountants LLP, 7th Floor, Tower A - Wing 1, Business Bay, Airport Road Yerwada, Pune - 411 006 T: +91 (20) 41004444, F: +91 (20) 41006161

Registered office and Head office: Sucheta Bhawan, 11A Vishnu Digambar Marg, New Delhi 110 002

Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/NS00016 (ICAI registration number before conversion was 012754N)