United Drilling Tools Ltd. — AGM Information 2022

Sep 26, 2022

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26/09/2022

To Department of Corporate Service BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 Security ID - 522014

Listing Compliance Department National Stock Exchange of India Ltd. Exchange Plaza, C-1 Block-G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051 Security ID - UNIDT

Sub: Proceedings of 40[th] Annual General Meeting

Dear Sir/Ma’am,

In terms of General Circulars No. 14/2020 dated April 8, 2020; No. 17/2020 dated April 13, 2020; No 20/2020 dated May 5, 2020 and No. 02/2021 dated January 13, 2021; No. 19/ 2021 dated December 8, 2021; No. 2/2022 dated May 5, 2022 issued by the Ministry of Corporate Affairs and in compliance with other applicable provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), the 40[th] Annual General Meeting of United Drilling Tools Limited (‘the Company”) was held on Monday, the 26[th] day of September, 2022 at 11:30 AM (IST) (‘AGM’) through Video Conferencing (VC) / Other Audio Visual Means (OAVM) to transact the business as stated in the Notice of AGM.

We are enclosing herewith the proceedings of AGM, as required under regulation 30, Part A of Schedule III of the SEBI (LODR) Regulations, 2015.

Kindly take the same on record.

Thanking You,

Yours faithfully

For United Drilling Tools Ltd.

INDERPAL Digitally signed by INDERPAL SHARMA SHARMA Date: 2022.09.26 15:49:28 +05'30' Inderpal Sharma Director DIN - 07649251

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Proceedings of 40[th] AGM of United Drilling Tools Limited

The 40[th] Annual General Meeting of the Company was held on Monday, the 26[th] day of September, 2022 at 11:30 AM through Video Conferencing (VC) / other audio visual means (OAVM), in accordance with the relevant circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI).

Mr. Naveen Bhatnagar, Company Secretary welcomed the members and other dignitaries to the meeting and briefed them on certain points relating to their participation at the meeting.

The Directors, Statutory Auditors, Secretarial Auditors-cum-Scrutinizer and Senior Management of the Company were present at the meeting through VC / OAVM from their respective locations.

Mr. Pramod Kumar Gupta, Chairman of the Company, chaired the Meeting.

Mr. Pramod Kumar Gupta, Chairman, extended a warm welcome to all the shareholders, auditors and other(s) for joining the AGM. The Directors and Auditors present at the AGM introduced themselves to the members.

The requisite Quorum being present, the Chairman called the meeting to order.

The Chairman then made his opening remarks and his speech covered the industry outlook and future outlook. He further briefed the members about the operational and financial performance of the company during FY 2022.

As per AGM notice dated 13-08-2022, convening the AGM of the company, the following businesses were transacted at the AGM:-

ORDINARY BUSINESS

1. To receive, consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the financial year ended 31[st] March, 2022, together with the reports of Board of Directors and Auditor’s thereon.

2. To appoint a Director in place of Mr. Inderpal Sharma, having DIN: 07649251, who retires by rotation and being eligible, offers himself for re-appointment.

3. To approve 02 Interim Dividend(s) and also a Final Dividend of 60 paisa per Equity Share to the eligible Shareholders, aggregating to Rs. 2.10/- only per equity share of Rs.10/- each fully paid-up of UDTL, as declared / recommended by the Board of Directors on 24[th] July, 2021, 9[th] February, 2022 and 25[th] May, 2022, respectively for the FY ended 31[st] March, 2022.

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SPECIAL BUSINESS

4. To confirm re-appointment of Shri. Pandian Kalyanasundaram as a Non-Executive Independent Director of the Company.

5. To confirm re-appointment of Shri. Pramod Kumar Gupta as Chairman and Managing Director of the Company.

6. Re-appointment of Shri Inderpal Sharma, as a Whole-time Director of the Company.

The Chairman further informed the members that the Company had provided remote e-voting facility to the members to cast their votes on all the resolutions set forth in the AGM Notice. Members who were participating in the meeting and had not cast their votes through remote e-voting, were provided an opportunity for 30 minutes to cast their votes through e-voting after conclusion of AGM.

The members present at the meeting were given an opportunity to ask questions and seek clarification(s). The Chairman appropriately responded to the questions raised.

Post the question and answer session, the Chairman informed on the e-voting process and that the consolidated voting results will be disseminated on the website of the stock exchanges and the Company. The Chairman authorized the Company Secretary to declare the results of voting and place the same on the website of the Company.

The Chairman then thanked the members for their continued support and for attending and participation in the meeting. He also thanked the Directors and Auditors for joining the meeting. The e-voting facility was kept open for the next 30 minutes to enable the members to cast their vote.

The meeting was concluded with a vote of thanks to the Chairman.

Thanking You,

Yours faithfully

For United Drilling Tools Ltd.

INDERPAL

SHARMA

Digitally signed by INDERPAL SHARMA Date: 2022.09.26 15:49:56 +05'30'

Inderpal Sharma Director DIN - 07649251

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