Submission of Letter of Offer ('Letter of Offer') by Jindal Photo Limited ('the Company') in accordance with the provisions of the SEBI (Delisting of Equity Shares) Regulations, 2021 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

JINDAL PHOTO LIMITED JPL/SECT/OCT26/079 October 23, 2026 The Listing Department The Deptt of Corporate Services National Stock Exchange of India Limited The BSE Ltd. Exchange Plaza, 5th Floor, Plot No. C-1 25, PJ Towers, Block – G, Bandra-Kurla Complex Dalal Street Bandra (East), Mumbai –400051. Mumbai – 400001. Scrip Symbol: JINDALPHOT BSE Scrip Code: 532624 Subject: Submission of Letter of Offer (“Letter of Offer”) by Jindal Photo Limited (“the Company”) in accordance with the provisions of the SEBI (Delisting of Equity Shares) Regulations, 2021 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, The Company has received the Letter of Offer dated October 22, 2026 (“LOF”), issued by Saffron Capital Advisors Private Limited, Manager to the Offer, for and on behalf of Concatenate Power Advest Private Limited (“Acquirer 1”) and Concatenate Advest Advisory Private Limited (“Acquirer 2”), the acquirers, along with Jindal India Power Limited, the person acting in concert (“PAC”), in connection with the voluntary delisting of the equity shares of the Company from BSE Limited (“BSE”) and National Stock Exchnage of India Limited (“NSE”). Accordingly, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a copy of the Letter of Offer dated October 22, 2026. The Letter of Offer is also available on the Company's website at http://jindalphoto.com, in accordance with Regulation 16(3) of the SEBI (Delisting of Equity Shares) Regulations, 2021. You are requested to disseminate the aforesaid information on your website. Thanking you, Yours Faithfully, For Jindal Photo Limited Manish Kumar Company Secretary & Compliance Officer M. No. F7990 Encl: m/a Head Office: Plot No. 12, Local Shopping Complex, Sector B-1, Vasant Kunj, New Delhi-110 070, Ph.: 011-40322100 Regd. Office: 19th K.M. Hapur- Bulandshahr Road, P.O. Gulaothi, Distt. Bulandshahr, Uttar Pradesh-203408. CIN: L33209UP2004PLC095076, E-mail: cs_jphoto@jindalgroup.com, Website: www.jindalphoto.com THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This Letter of Offer (“Letter of Offer” or “LOF”) is being sent to you as a Public Shareholder (defined below) of Jindal Photo Limited (“Target Company”) as on the Specified Date (defined below) in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, as amended (“Delisting Regulations”). In case you have recently sold your Offer Shares (defined below) in the Target Company, please hand over this Letter of Offer and the accompanying documents to the member of the Stock Exchanges through whom the sale was effected. LETTER OF OFFER for Voluntary Delisting of Equity Shares to the Public Shareholders of JINDAL PHOTO LIMITED Corporate Identification Number (CIN): L33209UP2004PLC095076 Registered Office: 19th K.M. Hapur- Bulandshahr Road, P.O. Gulaothi, Distt. Bulandshahr, Uttar Pradesh, 203 408 Head Office: Plot No. 12, Sector B -1, Local Shopping Complex, Vasant Kunj, New Delhi – 110 070 Tel. No.: 011-40322100; Contact Person: Mr. Manish Kumar, Company Secretary and Compliance Officer; Email id: cs_jphoto@jindalgroup.com; Website: www.jindalphoto.com FROM Concatenate Power Advest Private Limited (“Acquirer 1”) and Concatenate Advest Advisory Private Limited (“Acquirer 2”) (hereinafter Acquirer 1 and Acquirer 2 collectively referred to as “Acquirers”), being part of Promoter Group of the Target Company and Jindal India Power Limited as person acting in concert (“PAC”). The Acquirers along with PAC is making this delisting offer to the Public Shareholders (defined below) of the Target Company pursuant to the Delisting Regulations and are inviting you to tender your fully paid-up Equity Shares of face value of ₹ 10/- each of the Target Company (“Equity Shares”) through the reverse book-building process in accordance with the Delisting Regulations. Floor Price: ₹ 1,119.50/- (Rupees One Thousand One Hundred Nineteen and Fifty Paise only) Per Equity Share Indicative Price: ₹ 1,120/- (Rupees One Thousand One Hundred Twenty only) Per Equity Share Bid Opening Date- Monday, November 02, 2026 | Bid Closing Date- Friday, November 06, 2026 Notes • If you wish to tender your Equity Shares to the Acquirers and PAC, pursuant to this Letter of Offer, you should carefully read this Letter of Offer and the instructions herein; • Physical Shareholders, please complete and sign the accompanying Bid Form in accordance with the instructions therein and in this Letter of Offer, which is enclosed at the end of this booklet and submit the Bid Form to your Seller Member (defined below) for bidding under Acquisition Window Facility (defined below). For detailed procedure on the submission and settlement of Bids (defined below), please refer to paragraph 19 (Method of Settlement) of the Letter of Offer. • The Delisting Offer will be implemented by the Acquirers and PAC through the Stock Exchanges mechanism, as provided under the Delisting Regulations and SEBI circulars bearing reference numbers ‘CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015’, ‘CFD/DCR2/CIR/P/2016/131 dated December 9, 2016’ and ‘SEBI/HO/CFD/DCR-III/CIR/P/2021/615 dated August 13, 2021’ issued by Securities and Exchange Board of India, as amended from time to time (“SEBI Circulars”). For details on methodology on Stock Exchanges mechanism, please refer Paragraph 18 (Process and Methodology for Bidding through Stock Exchanges) of this Letter of Offer. • For the purposes of this Delisting Offer, the Acquirers and PAC have appointed Emkay Global Financial Services Limited as the registered broker “Buying Broker” (defined below) through whom the Acquirers and PAC would make the purchases and settlements on account of the Offer. • Detailed “Process and Methodology for Bidding through Stock Exchanges” & “Method of Settlement”, for shares held in both demat and physical forms are set out in Paragraph 18 and 19 of this Letter of Offer. Manager to the Delisting Offer Registrar to the Delisting Offer SAFFRON CAPITAL ADVISORS PRIVATE MUFG INTIME INDIA PRIVATE LIMITED LIMITED (Formerly Link Intime India Private Limited) 605, 6th floor, Centre Point, Andheri Kurla Road, C-101, 1st Floor, Embassy 247, Lal Bahadur Shastri J.B. Nagar, Andheri (East) Mumbai - 400 059, Marg, Vikhroli (West), Mumbai - 400 083, Maharashtra, Maharashtra, India. India Tel. No.: +91 22 4973 0394; Tel No.: +91 810 811 4949 E-mail id: delistings@saffronadvisor.com Fax No.: + 91 22 49186060 Website: www.saffronadvisor.com Email: jindalphoto.delisting@in.mpms.mufg.com Investor grievance id: Website: www.in.mpms.mufg.com investorgrievance@saffronadvisor.com Investor Grievance Id: Contact Person: Pooja Jain/ Yashi Srivastava jindalphoto.delisting@in.mpms.mufg.com SEBI Registration Number: INM000011211 Contact Person: Shanti Gopalkrishnan Validity of Registration: Permanent SEBI Registration No.: INR000004058 Validity of Registration: Permanent SCHEDULE OF ACTIVITIES For the process of the Delisting Offer, the tentative schedule of activities will be as set out below: Activity Date Day Initial Public Announcement June 29, 2026 Monday Resolution for approval of the Delisting Proposal passed July 16, 2026 Thursday by the board of directors the Target Company Resolution for approval of the Delisting Proposal passed August 18, 2026 Tuesday by the Shareholders the Target Company Date of receipt of the NSE & BSE in-principle approval October 21, 2026 Wednesday Date of publication of Detailed Public Announcement October 22, 2026 Thursday Specified Date for determining the names of the Public October 21, 2026 Wednesday Shareholders to whom the Letter of Offer shall be sent* Last date for dispatch of the Letter of Offer and Bid October 26, 2026 Monday Forms to the Public Shareholders as on Specified Date** Last date for Publication of recommendation by October 29, 2026 Thursd [Showing first 8,000 characters — download PDF for full document]