Jaiprakash Power Ventures Limited - Board Meeting Outcome for Update Of The Board Meeting Held On 12Th December, 2022

This is to inform you that in line with the Company's continuing endeavour to exit the Non-Core Assets and as approved by the Board of Directors of the Company, based on the recommendations of its Audit Committee, at the meeting held today i.e. December 12, 2022, a binding Framework Agreement has been signed by the Company for divestment of the 2 MTPA Jaypee Nigrie Cement Grinding Unit to Dalmia Cement (Bharat) Limited (DCBL), wholly owned subsidiary of Dalmia Bharat Limited, for a consideration of Rs.250.00 Crores. In this connection, please find attached a copy of the Jaypee Group Press Release being issued to the media.