Exide Industries: Updates

This is with reference to our letter dated 4th October, 2016 wherein we had provided a clarification to the news item dated 3rd October, 2016 appearing in Economic Times titled India, U.S. companies to fight in Supreme Court over Exide Trademark and media report (source: money control dated 3rd October, 2016) titled Indian major in trademark fight with US firm. It may kindly be noted that we had given a brief background of the ongoing litigation between the Company and Exide Technologies, a U.S. based company (hereinafter referred to as U.S. Company), in relation to the usage of the name or mark EXIDE directly or indirectly, in any manner in India. The said litigation is still pending before the Supreme Court for its consideration and disposal. Meanwhile the Company was in discussion with the U.S. Company for an out of court settlement to amicably resolve the long standing dispute. Based on the discussions, the Company has entered into a settlement agreement with the U.S. Company on 19th May, 2017, whereby the U.S. Company, subject to fulfillment of conditions mentioned therein, shall forever waive any right or claim to the ownership and/or use of EXIDE mark in India. The above development in this matter does not constitute a material event or information in terms of the approved Policy on determination of Materiality for Disclosures framed by the Company pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. However, the above update is given as an abundant precaution and in continuation to our earlier communication dated 4th October 2016. You are requested to kindly take it in your record.