Olectra Greentech Limited announced that the Company has awarded a contract for construction of the greenfield electric vehicle manufacturing facility on 150 Acres of the land situated at Seetharampur, Hyderabad, Telangana to Megha Engineering & Infrastructures Limited which is the ultimate holding company and a related party to Olectra Greentech Limited. Accordingly, in line with the SEBI circular dated 9th September 2015, the relevant details pertaining to the said awarding of Contract are specified herein below. Availing services for construction of the "Greenfield EV Manufacturing Facility" at Seetharampur.

As per the terms and conditions of the Tender, construction of the " Greenfield EV Manufacturing Facility" shall be completed within 12 months from the date of approval of the Shareholders and the proposed value of the contract 1s approximately INR 395.12 million (inclusive of GST). Construction of the Greenfield EV Manufacturing Facility shall be completed within 12 months of Shareholders' Approval (i,e 19.7.2023). As per the terms and conditions the Tender, the proposed value of the Contract is approximately INR 395.12 Million (inclusive of GST).

The Contract has been, group/group, awarded to MEIL, which is the, companies have any interest, ultimate holding company and, m that entity to whom the, related party to Olectra., order(s) /contract(s), IS, awarded.