JAT Holdings PLC incorporated a joint venture company under the name of "VOLT INDUSTRIAL COMPANY" on 13th April 2023 together with "SAFARI COMPANY, CJSC" and "QUALITY SUPPORT SOLUTIONS COMPANY LTD" in the Kingdom of Saudi Arabia to develop, manufacture, market, sell and service electric vehicle charges in the countries of the Gulf Corporation Council subscribing shareholding as mentioned below for a nominal value and it was not material to disclose at that point of time. The said "VOLT INDUSTRIAL COMPANY" will be commencing its operation with an initial investment of approximately LKR 170 Million from the Company on 25th September 2023.