RITES : CLOSES AFRIKA SUBSIDIARY

• Board of Directors approved proposal to initiate closure of RITES (Afrika) Proprietary Limited, a wholly-owned subsidiary incorporated in Botswana. • Subject to completion of applicable statutory, regulatory, legal, tax and other formalities and obtaining requisite approvals. • RITES (Afrika) Proprietary Limited contributed 0.02% of turnover and revenue in the last financial year. • Net worth contribution of RITES (Afrika) Proprietary Limited was 0.13% in the last financial year. • Closure expected within six months after receipt of all requisite clearances/approvals. • Reasons for closure include lack of relevant business opportunities and establishment of RITES representative office in South Africa. Impact: Neutral (Procedural closure of a dormant subsidiary with minimal financial impact)

RITES Limited

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