Intimation regarding exercise of conversion option for unlisted, unsecured Optionally Fully Convertible Debentures issued by PI Health Sciences Limited, wholly owned subsidiary, into Equity Shares

PI Industries Ltd has approved the conversion of Optionally Fully Convertible Debentures (OFCDs) worth Rs. 10,000 million (Rupees Ten Thousand Million) held in its wholly-owned subsidiary, PI Health Sciences Limited (PIHS), into 72,46,37,687 fully paid-up equity shares. This internal, non-cash transaction, based on an independent valuation, aims to strengthen the consolidated balance sheet and does not alter PIHS's status as a wholly-owned subsidiary or the parent company's control.