KEC INTERNATIONAL : MALIAN TAX ASSESSMENT ORDER DISCLOSED

• Company's branch in Mali received an Assessment Order from Directorate of Large Enterprise (DGE), Mali. • The order imposes a penalty of FCFA 408 Mn (equivalent to Rs. 6.79 crore) for the period January 2020 to December 2021. • The order is based on allegedly taxing offshore supplies by applying an ad-hoc margin. • The Company is perusing the order and will seek appropriate legal remedies. • The Company has been advised that the demand is not correct and does not foresee any material financial impact.

KEC International Limited

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