ELGI EQUIPMENTS LTD. - Clarification /Confirmation On News Item Appearing In 'Media/Publication'

We wish to inform you that, ATS Elgi Limited, a subsidiary of the Co. has entered into an agreement with Vehicle Testing Equipment, S.L. on October 20, 2021, to gain access to manufacturing Process, knowhow and software to manufacture and sell in India in vehicle test inspection . The business potential of the agreement is untested and hence not a material event. We further inform you that as per the policy for determining materiality of events/information for disclosure to stock exchanges the Company is required to disclose to the exchanges on awarding, bagging/ receiving amendment or termination of awarded/bagged orders/contracts not in the normal course of business and affecting 10% of the turnover of the Company on a standalone basis based on the audited financial results of the immediately preceding FY. ATS Elgi Limited has entered into an agreement in the normal course of business and is not a material event and hence the same need not be intimated to the exchanges.