The Board of Jindal Saw at its meeting held on 09 June 2025 has approved the following investment proposals:

1. To incorporate a step-down subsidiary in United Arab Emirates ('UAE').

2. To enter into JV agreement between Jindal Saw Holdings FZE ('JSH'), a subsidiary of the Company and BUHUR FOR INVESTMENT COMPANY LLC, KSA ('Buhur') for incorporating a new Company in Kingdom of Saudi Arabia (KSA).

3. To enter into JV agreement between Jindal Saw Holdings FZE ('JSH'), a subsidiary of the Company and RAX United Industrial Company, KSA ('RAX') for incorporating a new Company in Kingdom of Saudi Arabia (KSA).

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