The Board of Directors of Piramal Enterprises Limited held, the Committee approved the issuance of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures (`Debentures') on private placement basis Security Name: Piramal Enterprises Limited March 2021-22 Series 02 Size of the issue Up to INR 500 million along with an option to retain over subscription of up to INR 3250 million, aggregating up to INR 3750 million. Tenure of the instrument: 29 months 5 days Interest/Coupon Rate: 8% p.a.; Coupon shall be linked to Underlying Reference Price on Final Observation Date. Security: Secured through a first ranking pari-passu charge by way of hypothecation over the Hypothecated assets (excluding Excluded Receivables both present and future) of Security Provider.

Details of redemption: Redemption at par on 2nd September, 2024.