Kiri Industries Ltd

We are pleased to inform that the Singapore International Commercial Court (SICC) vide its judgement dated March 3 2023 has confirmed the final value of Companys 37.57% stake in DyStar Global Holdings (Singapore) Pte Ltd (DyStar) as US$603.80 million as against US$481.60 Million which was valued by the SICC vide its judgement dated June 21 2021 which is now significantly increased by US$122.20 million.The court of appeal (the Supreme Court of Singapore) vide its judgement dated 6 July 2022 had decided two major points in favour of the Company related to 19% Discount for Lack of Marketability and notional licence fees with respect to exploitation of DyStars patent by Longsheng and had directed the SICC to give effect of the said Judgement.The buyout order is to be executed now at the value of US$ 603.80 million by Senda International Capital Ltd. Please find attached herewith copy of SICC final valuation judgement dated March 3 2023 for your reference and records.