Minda Corporation Limited has entered into and signed a Joint Venture Agreement with HSIN CHONG MACHINERY WORKS CO., LTD ("HCMF") on June 14, 2024 for manufacturing of Automotive Sunroof Solutions and Closure Technology Products for passenger cars. This Joint Venture shall be operational through incorporation of a new joint venture entity. The initial ratio of shareholding in the proposed JV company shall be held 50% by Minda Corporation Limited and 50% shall be held by HSIN CHONG MACHINERY WORKS CO., LTD ("HCMF").

Domestic/international; International. Details of consideration paid /received in agreement: Both parties will subscribe to the Memorandum of Association of the proposed joint venture entity. Significant terms and conditions of agreement: This Joint Venture shall be operational through incorporation of a new joint venture entity.

Products in the proposed JV Company includes manufacture, assemble and commercialise the sale of Automotive Sunroof Solutions and Closure Technology Products for passenger cars and related components. Initial shareholding in proposed JV Company shall be held 50% by MCL and 50% by HCMF JV Company shall be managed jointly by both the parties. Proposed Board of JV Company 3 (Three) Directors to be appointed by each party.

Initial Authorised Capital of the proposed JV shall be INR 831,000,000, divided into 83,100,000 equity shares of INR 10 each. HCMF shall provide an exclusive license to the JV Company to use HCMF's know-how for manufacturing of these products in the Territory of India. Whether the acquisition would fall within related party transactions: Promoters /Promoters group does not have any interest in the proposed JV entity or in Joint Venture Agreement.