Lumax Industries Limited at its meeting on March 21, 2023 announced resignation of Mr. Kenjiro Nakazono from the position of Executive Director - Whole Time Director (Key Managerial Personnel) of the Company with effect from the close of business hours of April 07, 2023. The Board placed on record its sincere appreciation for the contribution and services rendered by Mr. Kenjiro Nakazono during their tenure as Executive Director- Whole Time Director (Key Managerial Personnel) of the Company respectively. Reason for change- Mr. Kenjiro Nakazono, nominee of Stanley Electric Co.

Ltd, Japan, (the Financial and Technical Collaborator of the Company) was appointed as an Executive Director (Whole Time Director - Key Managerial Personnel) on the Board of the Company. Stanley Electric Co. Ltd, Japan, has decided to recall him.

Hence, he has submitted his resignation from the position ofExecutive Director (Whole Time Director - Key Managerial Personnel) with effect from the close of business hours of April 07, 2023.