Panama Petrochem : Spurt in Volume

Corporate Office & Communication Address:

40I Aza House, 24, Turner Road, Bandra (W), Mumbai 400 050. Website: www.panamapetro.com

Phone : 9I-22-42I77777 I Fax : 9I-22-42I77788 I E-mail : [e-mail]

CIN No. L23209GJI982PLC005062

To,

National Stock Exchange of India Limited

Exchange Plaza,5th Floor,Plot No. C/1

G Block,Bandra-Kurla Complex

Bandra (E) ,Mumbai-400 051

Scrip Symbol :PANAMAPET

Sub : Clarification on increase in Volume

Dear Sir/Madam,

This has reference to your letter no. NSE/CM/Surveillance/12506 dated November 25, 2022 seeking clarification from the Company on increase in volume.

In this regard, we would like to clarify that at present there is no material relevant information / event or any undisclosed price sensitive information having a bearing on the operations / performance of the Company which needs to be informed to the exchanges. The volatility in the price and volume of the Company's shares in the recent past is completely market driven.

Further, the Company has been disclosing all the information / events which have a bearing on the operations / performance of the Company to the Stock Exchanges on regular basis as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kindly take the above submission on your record.

Thanking You,

Yours faithfully,

For PANAMA PETROCHEM LIMITED

Gayatri Sharma

Company Secretary & Compliance Officer