Zen Technologies Ltd. — Capital/Financing Update 2023

Mar 24, 2023

==> picture [576 x 94] intentionally omitted <==

Date: March 24, 2023

To BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001 Through: BSE Listing Centre Security Code: 533339

To

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Through: NEAPS Symbol/Security ID: ZENTEC

Dear Sir/Madam,

Sub: Press Release – Receipt of Order

---

Please find attached the press release titled “ZEN TECHNOLOGIES LIMITED SECURES NEW ORDER OF ₹ 127 CRORES.”

The above information is also available on the website of the Company: https://www.zentechnologies.com/press-releases

This is for your kind information and records.

Thanking You.

Yours sincerely,

For Zen Technologies Limited

AFZAL Digitally signed by AFZAL HARUNBHAI MALKANI HARUNBHAI Date: 2023.03.24 08:57:10 MALKANI +05'30'

Afzal Harunbhai Malkani

Chief Financial Officer & Compliance Officer

==> picture [543 x 91] intentionally omitted <==

PRESS & MEDIA RELEASE

Hyderabad, March 24, 2023

ZEN TECHNOLOGIES LIMITED SECURES NEW ORDER OF ₹ 127 CRORES

Commenting on the order win, Mr. Ashok Atluri – Chairman and Managing Director, said:

"The Government of India has recently accelerated the induction of simulators into the armed forces, in line with the simulation framework issued in September 2021 (source: https://tinu.be/GOISimFW). This move not only saves a significant amount of money but also provides better training value and is the most environmentally sustainable way to train our forces for combat readiness. Although Zen has faced setbacks in the past (2012), as the Company faced the cancellation of some large tenders that were within the grasp. The situation looked bleak back then, and we had stated in our press release at the time, "As of now Zen is not participating in any large tender… The visibility of the forthcoming orders is poor…” (source: https://tinu.be/Zen). The Company has made a complete turnaround over the last ten years. Zen is confident that it is well-positioned to participate in and contribute to the country's growth and progress. The company believes that the next few years will be extremely positive, and it anticipates the signing of several more significant contracts in the near future.

Zen believes that it will play a significant supporting role in the government's prestigious Agnipath initiative and efforts to modernize training. The Government of India's actions show that it is walking the talk when it comes to supporting its stated objectives. The induction of simulators into the armed forces is an example of this. With the government's support, Zen is confident that it will continue to thrive and contribute to the country's progress”.

About Zen Technologies Limited

Zen Technologies Limited is a pioneer and leader in providing world class state-of-the- art Defence Training Solutions, Drones and Anti- Drones solutions and has a proven and impeccable track record in building training systems for imparting defense training and measuring combat readiness of security forces. The company is engaged in indigenous design, development and manufacture of sensors and simulators technology based defence training systems and has relentlessly been providing Defence Training Solutions and seamless services to Ministry of Defence (Armed Forces), Security Forces Police, Para-military forces and is privileged to have served the nation for over 2.5 decades.

The company manufactures land based military training simulators, driving simulators, Live range equipment and Anti drone Systems. With a dedicated R&D (recognized by the Ministry of Science and Technology, Government of India) and production facility in Hyderabad, the company has applied for over 109 patents and shipped more than 1,000 training systems around the world.

Contact Us

Afzal Malkani

Chief Financial Officer Zen Technologies Limited afzal.malkani@zentechnologies.com

Abhishek Mehra

Investor Relations Advisor TIL Advisors abhishek@theinvestmentlab.in

Diwakar Pingle

Investor Relations Advisor Ernst & Young diwakar.pingle@in.ey.com

1/2

PRESS & MEDIA RELEASE

Safe Harbour

This document which have been prepared by Zen Technologies Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This document has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Document. This Document may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Document is expressly excluded.

Certain matters discussed in this Document may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Document. The Company assumes no obligation to update any forward-looking information contained in this Document. Any forward-looking statements and projections made by third parties included in this Document are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

2/2