Bharat Dynamics Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 and based<BR> on the certificate received from M/s. Alankit Assignments Ltd (Registrar and Share Transfer Agent), we<BR> hereby confirm that the securities received for dematerialization have been mutilated and cancelled<BR> after due verification and the name of the respective depository has been substituted in the records as<BR> the registered owner within the stipulated time of receipt of certificate of security.