Outcome of board meeting of Greenply Industries

Held on 20 March 2018

The Board of Greenply Industries at its meeting held on 20 March 2018 has approved the following -

1. Consented to explore an option to De-merge the Company's MDF Division into Greenpanel Industries, a wholly owned subsidiary of Greenply Industries.

2. Approved expansion of Veneer line in the existing manufacturing unit of Greenply Gabon SA, Gabon, step-down wholly owned subsidiary of the Company, situated at NKOK SEZ, Gabon, West Africa.

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