Escorts : Open Offer

Morgan Stanley India Company	Registered Office:
Private Limited	18th Floor, Tower 2,
	One World Center,
	Plot - 841, Jupiter Textile Mill Compound,
	Senapati Bapat Marg,
	Lower Parel, Mumbai 400 013, India
	tel [phone]
	fax [phone]

Date: March 17, 2022

To,

National Stock Exchange of India Limited

Exchange Plaza, Plot no. C/1,

G Block, Bandra Kurla Complex, Bandra E

Mumbai- 400 051

Dear Sir/Madam,

Subject:	Advertisement in relation to the open offer to the Public Shareholders of Escorts
	Limited ("Target Company") by Kubota Corporation ("Open Offer"/ "Offer")

With respect to the captioned Open Offer, an advertisement dated March 16, 2022 was published on March 17, 2022 ("Advertisement") containing:

1. schedule of major activities pertaining to the Open Offer, as already disclosed on page 2 of the letter of offer dated March 3, 2022 along with the Form of Acceptance-cum-Acknowledgement ("Letter of Offer");
2. web-linkfor accessing the "Procedure for Acceptance and Settlement of the Open Offer" as already disclosed at Section VIII of the Letter of Offer at pages 47 to 51 of the Letter of Offer;
3. web link for accessing the "Form of Acceptance-cum-Acknowledgement"as already provided at pages 72 to 81 of the Letter of Offer, with the instructions relating to the "Form of Acceptance-cum-Acknowledgement"at pages 66 to 71 of the Letter of Offer;
4. web link for accessing the "Form No. SH-4Securities Transfer" as already dispatched to the Public Shareholders holding physical Equity Shares along with the Letter of Offer;
5. web link for accessing Letter of Offer (which is also available on SEBI's website);

in the following newspapers (which are the same newspapers in which the original Detailed Public Statement and Pre-Offer Advertisement cum Corrigendum dated March 10, 2022 was published):

Newspaper	Language	Editions
Financial Express	English	All Editions
Jansatta	Hindi	All Editions
Satyajay Times	Hindi	Faridabad
Navshakti	Marathi	Mumbai

We hereby enclose a copy of the aforementioned Advertisement in relation to the Open Offer.

1

Morgan Stanley India Company	Registered Office:
Private Limited	18th Floor, Tower 2,
	One World Center,
	Plot - 841, Jupiter Textile Mill Compound,
	Senapati Bapat Marg,
	Lower Parel, Mumbai 400 013, India
	tel [phone]
	fax [phone]

We request you to kindly disseminate the Advertisement on your website.

Capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Letter of Offer dated March 3, 2022 and Pre-Offer Advertisement cum Corrigendum dated March 10, 2022.

Should you require any further information / clarifications on the same, please contact the following persons:

Name	Designation	Contact			Email ID
Satyam	Vice President	[phone]			[e-mail]
Singhal		1009
Prakhar Jaju	Associate	[phone]-			[e-mail]
		1045

Thanking you,

For Morgan Stanley India Company Private Limited

(Manager to the Offer)

Name: Sachin Wagle

Designation: Managing Director

Enclosed: As above

2