INGERSOLL-RAND (INDIA) LTD. - Outcome Of The Meeting Of The Board Of Directors ('The Board') Of Ingersoll-Rand<BR> (India) Limited ('Company') Held On February 12, 2021

The Agreement inter alia provides for payment of royalty effective January 1, 2021 to IR<BR> Global Ventures LLC at the rate of 4% on the Company's net sales price of all products and<BR> services, against the licensing of the technical knowhow, global design, core manufacturing<BR> process and procedures, patents, trade secrets etc., collectively referred to as the<BR> Intellectual Property by IR Global Ventures LLC to the Company. Net sales price will exclude<BR> sales to Intercompany [Related Party/Intra Group] customers. attached is the detailed letter.