Gujarat Apollo Industries Limited informed that Company has incorporated its Associate Company named PFH AGRI EQUIPMENT INDIA PRIVATE LIMITED on 22 December, 2022. Accordingly, this newly incorporated Company will be an Associate Company of Company M/s. Gujarat Apollo Industries Limited. Name of the target entity, details in brief such as size, turnover etc: PFH AGRI EQUIPMENT INDIA PRIVATE LIMITED is a Company incorporated under the provisions of the Companies Act, 2013 on 21 December, 2022 as an Associate Company of M/s. Gujarat Apollo Industries Ltd. Paid up share capital: INR 4,000,000 (divided into 400,000 equity shares of INR 10 each); Industry to which the entity being acquired belongs: Agriculture and construction equipment manufacturing, however this newly incorporated entity is yet to commence it's business.

Cost of acquisition or the price at which the shares are acquired: INR 2,000,000 by subscribing 200,000 equity shares of INR 10 per share [at par]; Percentage of shareholding /control acquired and /or number of shares acquired: 50% of share capital 200,000 equity shares of INR 10 each.