We intend to utilise the Issue Proceeds, after deducting the underwriting and issue management fees, sellingcommissions and other expenses associated with the Issue (the “Net Proceeds”) for the following objects:1. To partially finance construction and development of the Identified Projects aggregating to 2,790 MWin capacity 400 KV transmission project and mining venture.2. Repayment of corporate debt and3. General Corporate Purposes.The main objects and objects incidental or ancillary to the main objects set out in our Memorandum ofAssociation enable us to undertake our existing activities and the activities for which funds are being raised byus through this Issue. Further, we confirm that the activities we have been carrying out until now are inaccordance with the objects clause of our Memorandum of Association.