Corporate Profile

1. Corporate Profile www.dalmiasec.com info@dalmiasec.com

2. With four decades of expertise in the Indian Capital Markets, Dalmia Securities Private Limited (DSPL), the flagship Company of Dalmia Groupis today a significant player in Indian financial services industry, encompassing equities, derivatives, private equity investments, merchant banking and real estate. Our Net Worth as on 31st March 2018 was ₹ Rs. 40 Crores. After demerger of our Proprietary Investments and Trading Division out of DSPL, the Company is now more leaner and more focused organization, exclusively on Financial Services. We are a cash-rich group having zero external borrowings. We have a profitable track record. Our turnover was appox ₹ Rs. 7854.26 crores during the year ended 31st March 2018 across all exchanges and all segments. We are Headquartered out of Kolkata. Our Institutional Broking division along with Investment Banking vertical is based out of our office in Mumbai. Our employee strength was 42 as on 31st March 2018. Dalmia Group commands enormous trust in the market, based on its impeccable track record, robust financials and exemplary professional conduct. About Us www.dalmiasec.com info@dalmiasec.com

3. Memberships & Licenses www.dalmiasec.com info@dalmiasec.com

4. Vision & Mission Our Vision: To be a significant player in the financial services industry. “Significant” means the ability to enjoy longstanding respect and trust in an industry marked by volatility and constant evolution. Our Mission: • To provide holistic financial solutions that meet client needs and exceed expectations • To offer excellence in services while delivering value to clients • To foster a knowledge rich environment for all our associates • To be a delight to work with- for all our stakeholders www.dalmiasec.com info@dalmiasec.com

5. Our Board Mr. Narain Prasad Dalmia: Whole Time Director – More than five decades of experience in Capital Market Operations and possessing immense administration and business management skills Mr. Suryakant Dalmia: Director – More than two decades of experience in Capital Market Operations and possessing tremendous expertise and acumen in the financial space Mr. Ajoy Kumar Gupta: Director – Expert in company law matters and Tax Consultants Mr. Asim Ranjan Manna: Whole Time Director – Ex- Deputy General Manager of National Insurance Co Ltd. Mr. Manish Agarwal: Director and CEO: Ex. Sr. Vice President - Head of Investment Banking & Business Development in BOB Capital Markets Ltd. www.dalmiasec.com info@dalmiasec.com

6. Top Management Mr. Jeyakumar Swaminathan: COO-Merchant Banking: He has over 36 years of executive and leadership experience in Business development in the areas of Banking and Finance industries. He worked with leading organizations like India Bulls Financial Services Limited, IDBI bank and Bureau of Indian Standards handling Business development from various industries. Mr. Vishal Dalmia: Ex. Vice President: He was a part of the founding team of a India dedicated Hedge Fund which was set up in 2005. In the fund’s 1st avatar, it was following a Long Short strategy which was subsequently changed to Long Only strategy post financial crisis. These funds were domiciled in Cayman Islands and Mauritius. www.dalmiasec.com info@dalmiasec.com

7. Our Verticals www.dalmiasec.com info@dalmiasec.com

8. Our Services - Institutional Broking - HNI & Retail Broking - Dalmia Research Center - Investment Banking - Currency Broking - Mutual Fund Distribution www.dalmiasec.com info@dalmiasec.com

9. Institutional Broking INDIAN EQUITY MARKETS India is the 9th largest Equity Market in the world in terms of its Market Capitalization. Further, India’s Market Capitalization to GDP ratio stands at 74%, which is far below as compared to some of the other members of G20 nations. The direct participation of Indians in its Equity market is pretty low, as it is estimated that just 2% of India’s population have Demat account. However, indirect participation by way of Mutual Funds is slightly better. There are some 52.80 million number of folio’s with Mutual Fund industry as compared to 25 Million Demat accounts. Further, just about 8.6% of India’s Financial assets (estimated at US$ 160 Billion) are invested in Equities and Mutual Funds. With around 62.5% of India’s population in the age bracket of 15-59 years, there is an immense scope for additional investments coming into the Equity markets – both directly as well as indirectly. www.dalmiasec.com info@dalmiasec.com

10. Institutional Broking We are one of the few Brokerage houses in India to be empaneled with more than 3 dozen institutional clients. All these clients are from Banking, Mutual Fund and Insurance industry. Each of the participant, from the 3 industries mentioned above, invests in the market keeping different investment objectives in mind. Further, their universe of investible stocks is defied by their respective board / investment committee. So while recommending any stock ideas to our clients, we have to be sensitive about certain investment criteria's like Market Capitalization of the stock, the industry to which it belongs to, clients existing position in the stock (if any), dividend history, management track record, etc.. Our Institutional desks is based out of Mumbai and Kolkata, backed by a dedicated Institutional Equity Research team. The orders are placed by our clients either over recorded telephone lines or through Bloomberg terminal. www.dalmiasec.com info@dalmiasec.com

11. Institutional Broking We have a set of very experienced dealers who ensures that the clients orders are executed in the best possible manner, keeping in mind all the pre-set parameters defined by the client while placing the orders with us. We are happy to say that there haven’t been any execution errors by our dealers for the past so many years. Our research analysts religiously tracks the sectors that they have been assigned. Any new development in the companies or the sectors that we track – domestically as well as internationally – is captured, analyzed and our views are shared with our clients. Our ever efficient back office ensures that all the trades are properly settled without any error on our part or without any inconvenience to any of our clients. www.dalmiasec.com info@dalmiasec.com

12. Institutional Broking DSPL’s Institutional Client List www.dalmiasec.com info@dalmiasec.com

13. HNI & Retail Broking It is estimated that India has around 2.5 Lakhs millionaires, commonly referred to as HNI’s. They believe in diversifying their portfolio across asset class, not only to hedge against the volatility in a particular asset class but also to participate in the upside from different asset classes performing differently across different economic cycle. We very well appreciate their concern and try to maximize their returns from various investment and trading calls that we put across to them. On the other hand, around 20% of India’s population falls under Middle Income group, commonly referred to as Middle Class. People falling under this category are usually referred to as Retail Investors. The investment objective of each Retail Investor differs from the other. One Retail Investor may be looking for wealth creation through his equity investments while the other may be satisfied with quick returns through trading calls. Our team understands the investment objective of each of our Retail client and our investment advice is accordingly tailor made to suit his investment objective. www.dalmiasec.com info@dalmiasec.com

14. Dalmia Research Center Dalmia Research Center (DRC) has full time analysts covering core sectors like Banking, Pharmaceuticals, Sugar, Automobiles etc. as well as market technicals. With proficient skill and commensurate facilities, our team tracks equities, commodities, derivatives on a global scale as well as macro-economic variables which act as inputs in all other models. Our Product Understanding: Dalmia Group’s motto “We Care, its your money” coupled with “Investigate. Then Invest” our investment philosophy leaves us with no room but to do full justice in whatever investment recommendations that we give to our clients. Everyone has tons of information at their disposal through television, internet, social media, etc.. But what differentiates a good investment call from the rest is the ability to separate the News from the Noise. Further, a sound Portfolio, built on a rationale investment research, should be one which not only performs well in the good times but is able to significantly outperform the benchmark indices in stressful global environment. www.dalmiasec.com info@dalmiasec.com

15. Dalmia Research Center Our USP: At the center of our research is our methodology, combining top-down and bottom-up analysis, designed to provide our client with the key elements that determine the real value of a company. Added to that, we regularly revise our projections and recommendations, keeping abreast with global and domestic environments. We begin with rigorous Fundamental Analysis, incorporating economic, industry, company data and interview with the management to construct our forecast assumptions. Based on the assumptions projected revenues and major costs are presented in a very transparent and justified manner. We scrutinize all publicly available information, while also examining customers, suppliers and competitors to gain often overlooked insights into a company. The Intrinsic value of the stock is then carefully determined by: • modeling the company’s future earnings • forecasting the company’s cash flow and the forces, which impact it • providing a consistent, disciplined valuation framework based on discounted free cash (DCF) or other suitable valuation techniques. Finally, Continuous Research Coverage on the stocks in our universe helps us to monitor the key valuation drivers and evaluate events, which may impact value over time. www.dalmiasec.com info@dalmiasec.com

16. Investment Banking www.dalmiasec.com info@dalmiasec.com

17. Investment Banking Major Capital Market Assignments Sakthi Finance Limited ( BSE Listed NBFC) Two Public Issue redeemable non convertible debentures (NCDs) Issue Size : Rs. 3000 milion , Sole Lead Manager, Year: 2015 & 2016 Comfort Intake Limited (BSE Listed NBFC ) Rights Issue of Equity Shares Issue Size : Rs. 630 million: Sole Lead Manager: Year: 2011 UMS Technologies Limited Delisting of Equity Shares from BSE Year : 2014 www.dalmiasec.com info@dalmiasec.com Open Offer on behalf of Sicom Investments & Finance Limited a 100% subsidiary of SICOM  Limited (Acquirer) Aster Silicates Limited (BSE and NSE listed Company) Year : 2012

18. Investment Banking Fairness Opinion Valuation FUJIRAH GOLD REFINERIES U.A.E. AND BLOOM FOUNTAIN Valuation carried out in connection with FEMA Regulatory requirement for investment by the Group. www.dalmiasec.com info@dalmiasec.com Valuation of One 97 Communications Ltd (PAYTM) for Reliance Capital Ltd for arriving at Fair Market Value

19. Investment Banking Debt Syndication Debt raised ₹500 Million Debt raised ₹ 450 Million Debt Advisory ₹ 450 Million Deal Pipeline www.dalmiasec.com info@dalmiasec.com • Raising debt from Indian & International markets to the tune of ₹ 10 Billion for certain sectors like Agri focused NBFC, Real estate, Logistics, Food & Beverages, etc. • On the verge of closing a PE deal for a FM radio company • Raising equity to the tune of ₹ 1.25 Billion for setting up an industrial park and warehousing facility

20. Currency Broking As members of NSE – Currency Derivatives Segment, we provide dedicated currency dealers with extensive knowledge of the ever-changing global economic scenarios. Our Product Understanding: The currency derivatives market is a platform for all categories of investors and traders to participate in the forex markets, providing further avenues of asset investment, portfolio diversification and risk mitigation. The currency derivatives market offers a ready means to exporters looking to hedge receivables, importers looking to lock in purchase prices as well as traders seeking to benefit from the volatile movements between currencies, especially in the current global scenario. Our USP: We provide dedicated currency dealers with extensive knowledge of the ever-changing global economic scenarios. Trading in an asset highly influenced by world news, our research team closely tracks macro events to provide sound information to help clients take informed decisions. www.dalmiasec.com info@dalmiasec.com

21. Mutual Fund Distribution One of the most popular avenues of investing, in both asset classes – Debt and Equity, Mutual Funds provide easy purchase and redemption facilities and serve as a long-term investment vehicle. Our Product Understanding: Investors have long been participating in the financial markets through professionally managed Mutual Funds. Well defined investment objectives, expert management, large corpuses – allow investors to pool their resources optimally, while investing passively. Our USP: We provide distribution of all major Mutual Funds, together with the ability to purchase units online. Each client is advised to invest in Funds based on their risk profile and time horizon – Lump sum Investing – For medium – long term horizon, allows for value picking. Systematic Investment Planning – Facilitates regular savings and allows for rupee – cost averaging, enabling clients to ride over market volatility. Small amounts can be invested while compounding your investments over time for greater wealth accumulation. www.dalmiasec.com info@dalmiasec.com

22. Our Values & Beliefs: We believe that for new any relation to grow and mature, constant nurturing is required by all concerned parties, as lop-sided relationships do not lasts long. Keeping this Mantra in mind, our each and every day actions are guided by this philosophy. Further, we believe in absolute transparency and free & fair flow of information, both within and outside our organization. Needless to say, we expect the same from each and every business partners of ours. Business Model: “Growth is never by mere chance; it is the result of forces working together” Keeping the above phrase in mind, we try to create as much internal synergy as possible by cross selling other departments products / opportunities to the outside world. Our Proposition www.dalmiasec.com info@dalmiasec.com

23. Impeccable Track Record Negligible Investor Complaints with none outstanding as on date Strong Net Worth Zero Debt Group Solid Brand Equity and Industry Reputation in Eastern India, with aspirations to grow at PAN India level Highly skilled and experienced Management Team with excellent business network Niche Client Base Why Us? www.dalmiasec.com info@dalmiasec.com

24. Thank You Disclaimer: • This message contains confidential information and is intended only for the recipient. • Dalmia Securities Private Limited does not assume responsibility for discrepancy in the presented information. The firm has sought, interpreted and presented the contents to the best of its knowledge. • Persons taking inference from this presentation would do so at their own responsibility. Dalmia group including their directors, principal officers and other officials would not be in any way responsible for their such actions. • The contents presented are subject to change as per Indian Laws and Judicial Regulations. www.dalmiasec.com info@dalmiasec.com .