Udaipur Cement Works Limited announced that the directors of the company at its meeting held on 21 September 2022, has approved the following principal terms and conditions of the issue of NCDs aggregating upto INR 3,500 million on private placement basis: Type of Securities: Guaranteed Rated Secured Listed Non-Convertible Debentures. Size of the Issue: Upto 3,500 Guaranteed Rated Secured Listed Short- term Non-convertible debentures of face value of INR 1,000,000 each aggregating to INR 3,500,000,000. Tenure of the instrument - date of allotment and date of maturity: Date of Allotment: 7 October 2022 (Tentative); Maturity: 16 March 2025.

Initial Coupon: 7.45% per annum (Floating). Coupon Reset Date: Coupon shall be floating linked to an External Benchmark of 3M MIBOR + 1.72 BPS per annum, payable annually and shall be reset on 1 December 2022 and the date falling at the end of every 3 (Three) months thereafter until the Final Redemption Date on account of the change in Benchmark. Schedule of Payment of Coupon & Principal: Principal will be redeemed on maturity that is 16 March 2025 and Coupon will be paid on an annual basis from the Deemed date of Allotment.