Date: October 8, 2024

Dawood Lawrencepur Limited (“DLL”) has successfully completed its strategic exit from Reon Energy Limited, transferring all shareholding to Juniper International FZ LLC. This completion marks an important milestone in our strategy to optimize the Company’s portfolio to deliver enhanced returns to our shareholders.

Reon Energy is an asset that we passionately built with dedication to a sustainable future. Our experience with this asset has been an incredible journey that offered valuable insights into the renewable energy sector. DLL is proud of Reon Energy’s key successes – including landmark partnerships and innovative products – which will be immensely valuable to the buyer who believes in the company’s growth potential and is well-suited to unleash it. We also learnt tremendously from Reon Energy, especially its value drivers and business model, and where they stand in the context of our business principles and responsibility to investors. As we move forward, we will leverage these learnings to guide our investment decisions, reciprocating the trust shareholders have placed in us to create meaningful value.

We wish Juniper International the best as they take Reon Energy to new heights and successes. The proceeds from the sale will enable us to explore more avenues for capital allocation, focusing on resilient opportunities that strengthen DLL’s position and maximize returns for shareholders who remain our priority in this journey of strategic investment and growth.