In continuation to stock exchange intimation letter dated June 20, 2023 with regards to the above captioned subject, Sparc Electrex Limited has signed and thereby entered into an Exclusive Trademark License Agreement with Hyundai Corporation Holdings Co., Ltd, Korea for developing, producing, sourcing, selling, marketing and distributing the Power Tools and other related auxiliary activities in India under the brand. Name(s) of parties with whom the agreement is entered: Sparc Electrex Limited and Hyundai Corporation Holdings Co. Ltd. Date of execution of the agreement: The Agreement was executed on 26th June 2023 (effective from 01st July 2023) and will be valid till 30th September 2026.

Purpose of entering into the Agreement: Sparc Electrex Limited will be able to launch a variety of: Power Tools like Drills, Impact Drills, Rotary and Demolition Hammers, Cutters, Angle Grinders, Circular Saw s, Planer, Jigsaw, Chop Saw, Miter and Table Saw etc. High Pressure Washers, Industrial Vacuum Cleaners. Abrasives, Cutting and Grinding Wheels, Saw Blades, Drill Bits etc.

which will be procured on OEM basis and sold in India under "HYUNDAI" brand. As per the Agreement, the Company is permitted to sell above referred products manufactured in India or out sourced from companies in India or abroad under "HYUNDAI" brand. Indian Power Tools market is dominated by international brands and this Agreement will help the Company to face competitors aggressively.

This Agreement is expected to help the company in achieving higher sales and better margin in the future.