| The Board of Jindal Saw at its meeting held on 09 June 2025 has approved the following investment proposals: 1. To incorporate a step-down subsidiary in United Arab Emirates (“UAE”). 2. To enter into JV agreement between Jindal Saw Holdings FZE (“JSH”), a subsidiary of the Company and BUHUR FOR INVESTMENT COMPANY LLC, KSA (“Buhur”) for incorporating a new Company in Kingdom of Saudi Arabia (KSA). 3. To enter into JV agreement between Jindal Saw Holdings FZE (“JSH”), a subsidiary of the Company and RAX United Industrial Company, KSA (“RAX”) for incorporating a new Company in Kingdom of Saudi Arabia (KSA). |