Prostarm Cancels BESS MOU with Shenzhen Topband

Date: September 28, 2026

Other Operational / Legal / Strategic Disclosures

• The company intimates the cancellation of a Memorandum of Understanding (MOU) previously entered into with Shenzhen Topband Co. Ltd. ("TOPBAND").
• The original MOU, intimated on April 07, 2026 (Ref: Prostarm/Secretarial/2025-26/04), was for a potential strategic alliance for Exclusive Cooperation under a Battery Energy Storage System (BESS) project.
• The decision to cancel the MOU was made as the proposed project was determined to be not technically and economically feasible.
• The cancellation is also attributed to changes in the prevailing business and market environment, and a consequent strategic realignment and shift in business priorities of the company.
• The company explicitly states that there is no material financial or operational impact arising from this cancellation.
• The company confirms it continues to evaluate and pursue business opportunities in line with its strategic objectives and prevailing market conditions.