Thal : Disclosure of Material Information

TL/2023/3772

February 17, 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi

Subject: Disclosure of Material Information

Dear Sir,

In accordance with Section 96 and 131 of the Securities Act, 2015 and Regulations 5.6.1(a) of the Pakistan Stock Exchange Regulations, we hereby disclose the following in respect of our associated company, ThalNova Power Thar (Private) Limited (TN):

TN is a joint venture between (i) Thal Power (Private) Limited, a wholly owned subsidiary of Thal Limited;

1. Hub Power Holdings Limited; (iii) Nova Powergen Limited; (iv) CMEC ThalNova Power Investments Limited; and (v) Descon Engineering Limited, formed for the purposes of establishing a 330 MW Mine- Mouth Coal-Fired Power Generation Complex at Thar Block II, District Tharparkar, Sindh, Pakistan (the "Project") under the China Pakistan Economic Corridor (CPEC).

The Project has successfully achieved commissioning, with the Commercial Operations Date (COD) to take effect from February 17, 2023, in terms of the Power Purchase Agreement dated July 21, 2017 (the "PPA") entered into between TN and the Central Power Purchasing Agency (Guarantee) Limited.

The Project will be generating low cost energy from indigenous Thar Coal thus reducing burden on national foreign exchange resource. Completion of the Project would have not been possible without the support extended by the Government of Pakistan, Government of Sindh, the Government of China and all other private stakeholders.

You are requested to disseminate the information to the Members of the Exchange accordingly. Thank you.

A disclosure form as required pursuant to SRO 143(1)/2012 dated December 5, 2012, is enclosed as Annexure A.

Yours Sincerely,

__________________

Salman Khalid Company Secretary Thal Limited

1. Director/HOD
   Surveillance, Supervision and Enforcement Department Securities and Exchange Commission of Pakistan
   NIC Building, 64 Jinnah Avenue Blue Area, Islamabad

Annexure A

Disclosure Form

Name of Company	Thal Limited
Date of Report	February 17, 2023
Exact Name of Company as specified in	Thal Limited
its Memorandum
Registered Address of the Company	4th Floor, House of Habib Building, 3-Jinnah
	Cooperative Housing Society, Block-7/8,
	Shahrah-e-Faisal,Karachi-75350, Pakistan
Contact Information	Salman Khalid (Company Secretary)
	Email: [e-mail]

Disclosure of inside information by listed company

TN is a joint venture between (i) Thal Power (Private) Limited, a wholly owned subsidiary of Thal Limited;

1. Hub Power Holdings Limited; (iii) Nova Powergen Limited; (iv) CMEC ThalNova Power Investments Limited; and (v) Descon Engineering Limited, formed for the purposes of establishing a 330 MW Mine- Mouth Coal-Fired Power Generation Complex at Thar Block II, District Tharparkar, Sindh, Pakistan (the "Project") under the China Pakistan Economic Corridor (CPEC).

The Project has successfully achieved commissioning, with the Commercial Operations Date (COD) to take effect from February 17, 2023, in terms of the Power Purchase Agreement dated July 21, 2017 (the "PPA") entered into between TN and the Central Power Purchasing Agency (Guarantee) Limited.

The Project will be generating low cost energy from indigenous Thar Coal thus reducing burden on national foreign exchange resource. Completion of the Project would have not been possible without the support extended by the Government of Pakistan, Government of Sindh, the Government of China and all other private stakeholders.

You are requested to disseminate the information to the Members of the Exchange accordingly. Thank you.

Yours Sincerely,

__________________

Salman Khalid Company Secretary Thal Limited