With reference to our outcome of Board Meeting dated November 09, 2022 and in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the 'Listing Regulations'), this is to inform you that Share Purchase Agreement has been signed between the Company, KWE-Kintetsu World Express (S) Pte Ltd ('KWE Singapore'), KWE Kintetsu Express (India) Private Limited ('KWE India'), Gati Limited and Gati-Kintetsu Express Private Limited ('GKEPL') for acquisition of aggregate 1,50,000 Equity Shares i.e. 30% stake of GKEPL, comprising of 1,30,000 Equity
Shares (i.e. 26% stake) in GKEPL from KWE Singapore and 20,000 Equity shares, i.e. 4% stake in GKEPL from KWE India, for an aggregate consideration of INR 406,70,50,000/-.