This is in furtherance to the letter dated July 2, 2020, J. B. Chemicals & Pharmaceuticals Limited, pursuant to which it was informed that the Share Purchase Agreement dated July 2, 2020 has been entered into between certain promoter group members of J.B. Chemicals & Pharmaceuticals Ltd. and Tau Investment Holdings Pte. Ltd. ("Acquirer") (the "Share Purchase Agreement"). In furtherance to the Share Purchase Agreement, the Acquirer has acquired control over the Company. As a result of change in control of the company, take note of the following changes that have occurred in connection with the company's board of directors and senior management personnel. The board of directors, at its meeting held on August 31, 2020, has appointed, effective August 31, 2020, three (3) additional directors (Non-Executive & Independent) and five (5) additional directors (Non-Executive) as under: (1) Ms. Padmini Khare Kaicker as additional director (Non-Executive & Independent); (2) Mr. Sumit Bose as additional director (Non-Executive & Independent); (3) Mr. Ranjit Shahani as additional director (Non-Executive & Independent); (4) Mr. Sanjay Nayar as additional director (Non-Executive); (5) Mr. Prashant Kumar as additional director (Non-Executive); (6) Ms. Ananya Tripathi as additional director (Non-Executive); (7) Mr. Ajay Candade as additional director (Non-Executive); and (8) Mr. Mayank Mishra as additional director (Non-Executive). These directors, in their present capacity as additional directors, would hold office up to the date of annual general meeting to be held in the year 2021. None of the afore mentioned director is related to any other director. (B) Resignation of Independent Directors: Dr. Satyanarain Agarwala, Mr. Rajiv Mody, Ms. Krupa Gandhi, Mr. Devang Shah, Mr. Shaukat Merchant and Dr. Manoj Mashru, all independent directors of the Company, have resigned effective August 31, 2020. Each of the independent directors has resigned due to his/her personal reasons. Each of them has also confirmed that there is no other material reason for his/her resignation other than the reason cited above. (C) Stepping down from Executive role: Mr. Pranabh Mody has stepped down from his executive role as President & Whole time director (Operations). He thus would serve as non-executive director of the Company. (D) Resignation of Executive directors: Mr. Shirish B. Mody, Chairman and Whole time director (Marketing), Mr. Bharat Mehta, Whole time director (Planning and Development) and Mr. Kamlesh Udani, Executive director (Technical & Production) have resigned effective from August 31, 2020. (E) Resignation of Senior Management Personnel: Mr. Jay Mehta, President -- Global Business (Russia-CIS) and CRAMS and Mr. Nirav Mody, President-Global Business & Business Development, have resigned from services of the Company effective August 31, 2020. Padmini Khare Kaicker is the Managing Partner of B. K. Khare & Co. (the Firm)-one of the leading and reputed Indian Accounting Firms in the profession for more than five decades. Padmini has over 24 years of wide and varied experience serving large and mid-sized clients in variety of businesses - Manufacturing, Oil and Gas, Banking and Financial services, Insurance, IT, Hospitality, Real estate and Retail sectors. The firm has had the privilege of working very closely with reputed Indian business houses like the Mahindra's, Thermax, Finolex, Tatas, HDFC, L&T, TVS group to name a few. Sumit Bose was a member of the Indian Administrative Services where he served as Union Finance Secretary (as Secretary, Department of Revenue) immediately prior to superannuation. Mr. Bose has also served as Secretary (Expenditure) and Secretary (Disinvestment) as well as Secretary in the Thirteenth Finance Commission, consecutively in the Ministry of Finance, Government of India from August 2007 till superannuation. He was a member of the core group for the Union Budget from 2010 to 2015. Ranjit Gobindram Shahani is a global business leader with over 40 years of experience in industries spanning healthcare, pharmaceuticals, health technology, special chemicals and textiles. Mr. Shahani has a consistent record of creating sustained shareholder value in leading diverse businesses across geographies of Asia, Europe, Latin America and India. He held the position of Vice Chairman and Managing Director of Novartis, India from 2002 to 2018 and that of Chief Executive Officer at Novartis, India from 1997 to 2001. Sanjay Nayar is the Partner and CEO of Kohlberg Kravis Roberts & Co. L.P. India. He is also a partner of the KKR Asia Investment Committee and KKR Asia Portfolio Management Committee. He is on the board of KKR's portfolio companies, Radiant Life Care, Avendus Capital Pvt. Ltd, Max Financial Services Ltd, Ramky Enviro Engineers Limited, Max Healthcare Institute Limited and Sterlite Investment Managers Ltd. He supports expanding the range of KKR's credit and capital markets offerings across the region. Prashant Kumar is a Managing Director at Kohlberg Kravis Roberts & Co. L.P.'s ("KKR") private equity team. Prior to joining KKR, Mr. Kumar was a Director and member of the investment committee at ChrysCapital, a leading India focused private equity fund. Ananya Tripathi is a director with Kohlberg Kravis Roberts & Co. L.P. ("KKR") Capstone. She leads the team's value-creation efforts across KKR India's private equity portfolio companies cutting across industries including education, healthcare and industrials. Ajay Candade is a Director in Kohlberg Kravis Roberts & Co. L.P.'s ("KKR") private equity team. At KKR, he has been involved in investments in TVS Logistics, Magma Fincorp, Avendus Capital and Eurokids. He is currently a member of the board of directors of Avendus Capital and Eurokids and has previously served on the board of Magma Housing Finance and TVS Logistics. Mayank Mishra is a member of Kohlberg Kravis Roberts & Co. L.P.'s ("KKR") private equity team in Mumbai. At KKR, he has been closely involved in investments in HDFC Ltd., Radiant Life Care and Max Healthcare. Previously, Mayank worked at Moelis & Co., where he focussed on mergers and acquisitions within the healthcare and technology sectors.