MRC Agrotech Board to Consider Land Lease, WIP Capitalization, Loan Conversion

Key Agenda Items

The Board will consider and approve the following matters:

• Proposal for taking approximately 50 acres of land on long-term lease basis for the business and operational requirements of the Company

• Recognition and capitalization of eligible completed Work-in-Progress that can be converted into appropriate Fixed Asset categories in accordance with applicable accounting standards and statutory requirements

• Proposal relating to conversion of Loans and Advances aggregating approximately ₹3.88 Crores extended by the Company into equity investment in its 51% owned subsidiary

• Consideration of valuation reports obtained from IBBI Registered Valuer(s) in connection with the loan conversion proposal

• Any other matter with the permission of the Chair

Financial Impact

Specific financial impact of the proposals will be determined upon board approval. The loan conversion proposal involves ₹3.88 Crores of existing loans and advances to be converted into equity investment in a subsidiary.