Pcbl Limited

SUMMARY OF THE PROPOSED COMBINATION

[UNDER REGULATION 13(1A) OF THE COMPETITION COMMISSION OF INDIA (PROCEDURE IN REGARD TO THE TRANSACTION OF BUSINESS RELATING TO COMBINATIONS) REGULATIONS, 2011 (AS AMENDED)]

I. Names of the Parties to the Proposed Combination

1. The names of the parties to the proposed transaction are:

• a. PCBL Limited (“ Acquirer ”);

• b. Aquapharm Chemicals Private Limited (“ Target ”)

The Acquirer and the Target Assets are collectively referred to as the “ Parties ”.

II. Nature and Purpose of the Proposed Combination

Nature of the Proposed Combination

1. The Acquirer proposes to acquire 100% equity share capital of the Target from the existing shareholders of the Target (i.e., members of the Desai Group and the Mangwani Group) (“ Proposed Combination ”). Post the Proposed Combination, the Target will be a wholly-owned-subsidiary of the Acquirer.