Trent Limited announced that the Company has executed on 20 January 2023, a Joint Venture Agreement with MAS Amity Pte. Ltd. for incorporation of a Private Limited Company in India for undertaking business of design, development and manufacture of intimate apparel and apparel related products. The Parties have become equal shareholders of the joint venture company for undertaking the business of design, development and manufacture of apparel and apparel related products including but not limited to intimate wear as listed in the Agreement wherein the Parties will use their respective skills, expertise and resources.

The proposed shareholding of the joint venture company shall be as follows: Trent Limited - 50%; MAS Amity Pte. Ltd.-­ 50%. Both Parties shall have equal rights for appointment of directors, right of share subscription and over reserved matter.

Shareholders shall have equal voting rights which is in proportion to shareholding interest in the joint venture company. On incorporation of the joint venture company, equity shares shall be issued to the parties at face value of 10 per share. Trent and MAS Amity both have the right to nominate 2 Directors each on the Board of the joint venture company.