Delhivery Limited announced that at the board meeting held on May 17, 2024 approved the matter of incorporation of a Wholly Owned Subsidiary in India. Name of the target entity, details in brief such as size, turnover etc.; Name of the proposed entity: Delhivery Robotics India Pvt. Ltd. or such other name as may be approved by the relevant authorities.

Proposed Authorized Capital: INR 5,00,00,000/-; Turnover: NA, as the entity is yet to be incorporated. industry to which the entity being acquired belongs; Manufacturing of Drones and Freight Air Transport services. objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity); Objects of the Proposed WOS to carry out following businesses: Conduct cutting-edge Research and Development (R&D) in UAV technology, focusing on various form factors and payloads for eventual type certification and commercialization.

Offer Drone as a Service (DaaS), for shipment movement and remote sensing. Provide UAV Pilot Training, certifying pilots for internal use and obtaining licenses from DGCA, with deployment for ground operations. Engage in Drone Manufacturing, producingand selling UAVs globally, involving third-party manufacturing of composite airframe components, procurement of components, integration, quality testing, and flight trials.

The application for the process of incorporation of the wholly owned subsidiary will be filed and will be completed subject to approvals from the relevant authorities including but not limited to the Registrar of Companies. consideration - whether cash consideration or share swap or any other form and details of the same; 100% subscription to the share capital in cash. cost of acquisition and/or the price at which the shares are acquired; At face value per share.

The Company along with its nominee will subscribe 100% share capital of the proposed WOS.