Alufluoride Limited informed that the Company has incorporated a step-down subsidiary in the name "Jordanian Renewable Aluminium Fluoride Manufacturing Company PSC" in Hashemite Kingdom of Jordan on 3rd November 2022. Jordanian Renewable Aluminium Fluoride Manufacturing Company PSC is incorporated as step-down subsidiary of the Company on November 3, 2022. Issued and Subscribed Share Capital- JOD 100,000 divided into 100,000 shares, each of which shall have a par value of JOD 1. Out of which Alufluoride International Pte.

Ltd., Singapore (wholly owned subsidiary of file Company has subscribed to 67,000 shares (67%). The balance 33% share capital is subscribed by: Jordan Phosphate Mines Company PLC - 10,000 shares (10%) Indo-Jordan Chemicals LLC - 23,000 shares (23%). Industry to which the entity being acquired Belongs- Manufacture of inorganic chemicals, other chemical products and other chemical raw materials.

Objects and effects of acquisition- To expand the business operations, the step-down subsidiary was incorporated. The principal business activities of the step-down subsidiary would be as above, which are in line with the Company.