Hitech Corporation Limited at its board meeting held on April 15, 2024 approved incorporating a Wholly Owned Subsidiary in the United States of America (USA). a) name of the target entity, details in brief such as size, turnover etc.: The new Company is proposed to be incorporated in USA as Wholly Owned Subsidiary (WOS) of the Company by subscribing to the share capital of the proposed Company for an amount not exceeding USD 1,000,000 of which the initial subscription shall be USD 100,000. industry to which the entity being acquired belongs: Trading, Import & Export, Design & Development etc.

The WOS is being incorporated in USA with object to explore the opportunities for upgrading manufacturing technology and newer technical knowhow, improve designing capabilities of products and moulds, research and development of innovative materials and sustainable alternatives for circular economy, sourcing new products for the company and expanding the base of vendors and customers globally as well as for finding new business opportunities. The new Company is likely to be incorporated within 2 months. Share subscription money will be paid in cash.

The initial subscription will be at par.