General Announcement::U.S.$ 546,916,000 Step-Up Convertible Bonds due 2019

The Securities Issue Committee of the Board of Directors of the Company ( SIC ), at its meeting held on 13th March 2020, has approved in-principle, a plan to restructure the Bonds, and pursuant to that, the Company has convened a meeting, through a notice of meeting dated 13th March 2020 (the Notice ), of the holders of the Bonds (the Bondholders ), which is proposed to be held in Singapore on 6th April 2020 (the Meeting ) to consider and, if thought fit, vote in favour of, an Extraordinary Resolution (as defined in the Trust Deed) that will be considered at the Meeting, among other things, to approve and give effect to certain amendments to the Trust Deed and the terms and conditions of the Bonds set out in the Trust Deed (the Conditions , and such proposals as are set out in the Notice, together, the Proposal ).

The Proposal is subject to the satisfaction of certain conditions precedent set out in the Notice, which include, among others, approval of the Reserve Bank of India and the shareholders of the Company.

To the extent relevant, the SIC also noted that the relevant date for the purposes of the applicable provisions of the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993, as amended, shall be 13th March 2020.