AMEENJI RUBBER LIMITED : EXECUTION OF TECHNOLOGY LICENSE AGREEMENT FOR INDIA

• Ameenji Rubber Limited entered into a Technology License Agreement with Macroad Co., Ltd., Republic of Korea. • The agreement grants the Company an exclusive license to use the licensed technology in India. • The agreement is for licensing technology relating to the manufacture, marketing and sale of specified licensed products. • Details include an exclusive technology license for India, initial fee of USD 300,000, and a running royalty of 2.5% of Net Sales. • The agreement is for five (5) years from the Effective Date, extendable. • Neither the promoter nor promoter group has an interest in the entity awarding the order; transaction is not a related party transaction.

Ameenji Rubber Ltd

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