Systematix Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Recommendation of the Committee of Independent Directors ("IDC") on the Open Offer to the shareholders of Kuber Udyog Ltd ("Target Company") under Regulation 26(7) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (the ''SEBI (SAST) Regulations'').<BR><BR>

October 21, 2026 The Manager Dept. of Corporate Services BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai - 400 001 Dear Sir, Sub: Submission of Independent Director’s Committee (“IDC”) recommendations on the Open offer. Ref: Open Offer to acquire up to 3,19,71,680 fully paid-up Equity Shares of face value of Rs. 10/- each of Kuber Udyog Limited (“Target Company”), representing 26.00% of the Expanded Voting Share Capital of the Target Company, by Mr. Manav Bahri (“Acquirer 1”), Mr. Dinesh Popli (“Acquirer 2”) and Mr. Ajay Dutta (“Acquirer 3”) (collectively, the “Acquirers”), along with Trimudra Trade & Holdings Private Limited (“PAC 1”) and Ms. Shraddha Gohil (“PAC 2”) (collectively, the “PACs”), at a price of Rs. 23.35/- per Equity Share, payable in cash, pursuant to Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. With reference to the captioned Offer, we wish to inform you that committee of independent directors vide its meeting dated October 19, 2026 has given their recommendations on the captioned offer in terms of Regulation 26(7) of SEBI (SAST) Regulations. As required under the SEBI (SAST) Regulations, the said recommendations have been published on October 21, 2026 in the following newspapers in which DPS and Corrigendum to DPS was published: 1 The Financial Express English Daily All Editions 2 Jansatta Hindi Daily All Editions 3 Mumbai Lakshdeep Marathi Daily Mumbai Edition In this regard, we are enclosing herewith a e-copy of IDC recommendations published in the Financial Express for your kind perusal. We are also submitting herewith a Soft Copy of the same in PDF to upload on your for uploading on your website. We certify that the contents of the PDF format are identical with the copy of IDC recommendations published in the newspaper. Kindly acknowledge receipt of the same. For Systematix Corporate Services Limited Amit Kumar Director - Investment Banking CC: 1. Kuber Udyog Limited (“Target Company”) 2. Mr. Manav Bahri, Mr. Dinesh Popli and Mr. Ajay Dutta (“Acquirers”) Systematix Corporate Services Limited Registered Office: 206 - 207, Bansi Trade Centre, 581/5, M. G. Road, Indore - 452 001. Tel: +91-0731-4068253 Corporate Office: The Capital, A-Wing, No. 603 - 606, 6th Floor, Bandra Kurla Complex, Bandra (East), Mumbai -400051. Tel: +91-22-6619 8000 / 4035 8000 Fax: +91-22-6619 8029 /40358029 CIN: L91990MP1985PLC002969 Website: www.systematixgroup.in Email: secretarial@systematixgroup.in SEBI Merchant Banking Registration No.: INM000004224