Olectra Greentech Limited entered into Co-operation Agreement entered with BYD Auto Industry Co., Ltd. Area of agreement; Term extension of present Co- operation Agreement for Manufacturing and Maintenance of Electric Buses. Domestic/International; International. Scope of business operation of agreement; Co-operation between the parties to develop Electric Buses to meet the customer/market requirements.

Significant terms and conditions of agreement in brief: Both Companies have previously entered into a Co-operation Agreement and they desire to continue with this cooperation considering there is a good potential in Indian market for Electric Buses and in order to address the market requirements more competitively, the Parties have mutually extended their Co-operation Agreement untill 31st December, 2030. Rationale and benefit expected: Business synergy amongst the parties to address the technological advancements.