Kalpataru Projects International Limited announced that the branch office of the company situated in Tanzania on 17th April 2024 at about 10.30 PM has received the final assessment order for fiscal year 2022-23 post completion of local tax audit. Name of the authority: Tanzania Revenue Authority. As per the assessment order, a demand of additional tax, interest and penalty thereon has been determined mainly on account of disallowance of certain expenditures during the course of audit.

The Company provided relevant supporting details for the said disallowances; however, the Tanzania Revenue Authority did not agree on the same. Tanzania Revenue Authority has passed the final assessment order for financial year 2022-23 as under: - Balance Tax liability of approximately TZS 54.64 Million (Approximately INR 1.762 million), along with - interest of approximately TZS 3.52 million (approximately INR 0.114 million) and - penalty of approximately TZS 2.73 million (approximately INR 0.089 million). Considering amount involved is not material, the Company will discharge the payment towards the same without agreeing or disputing the same.

The Tax, interest and penalty levied is covered under (b) above. The same does not have any significant impact on the Company.