Arif Habib Limited — M&A Activity 2023

ARIF HABIB LIMITED

January 06, 2023

General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.

Executive Director
Public Offering and Regulated Persons Department
Securities Market Division
Securities and Exchange Commission of Pakistan
NIC Building, Jinnah Avenue, Blue Area,
Islamabad

Company Secretary
Lotte Chemical Pakistan Limited
EZ/1/P-4, Eastern Industrial Zone,
Port Qasim,
Karachi

Subject: Withdrawal of Public Announcement of Intention to Acquire 75.01% shares of Lotte Chemical Pakistan Limited (the "Target") by Novatex Limited (the "Acquirer") Under The Securities Act, 2015 and The Listed Companies (Substantial Acquisition of Voting Shares and Takeover) Regulations, 2017

Dear Sirs,

This is with reference to the Public Announcement of Intention ("PAI") made by Novatex Limited to acquire 75.01% shares of Lotte Chemical Pakistan Limited published in the Business Recorder and Nawai Waqt on July 13, 2022.

We, Arif Habib Limited, in our capacity as Manager to the Offer, would like to inform you that the parties were unable to agree on terms of the transaction and the PAI hereby stands withdrawn.

Yours Sincerely,

For and on behalf of Arif Habib Limited ("Manager to the Offer")

Head Office / Corporate Office: Arif Habib Centre, 23 M.T. Khan Road, Karachi | UAN: +92 21 111 245 111 | Fax: +92 21 3242 9653
Lahore Office: Office No. G-5 & G-6, Ground Floor, LSE Plaza, 19, Khayaban-e-Alwan-e-Iqbal, Lahore, | Tel: +92 42 3631 3700 - 11, 3631 3741 - 44
Islamabad Office: Office No. 506, 5th Floor, ISE Towers, Jinnah Avenue, Islamabad | Tel: +92 51 289 4505 - 06
Peshawar Office: Office No. F13-F17, 1st Floor, The Mali Tower, Peshawar Cantt | Tel: +92 91 5253913
Rawalpindi Office: Office No. F-15, 1st Floor, Rizwan Arcade, Adamjee Road, Saddar, Rawalpindi. | Tel: +92 51 5120428-29, +92 51 5563476-78
Faisalabad Office: Office No. 04, 3rd Floor Legacy Tower, Kohinoor City, Faisalabad. | Tel +92 41 8531010-3
Multan Office: Office No. 16-18, 1st Floor, Khan Center, Abdali Road, Near SP Chowk, Multan. | Tel +92 61 4514413, +92 61 4514412
Karachi Office: Office No. 1001-1003, 10th Floor, Gul Tower, Seari Quarters, I.I. Chundrigar Road, Karachi. | Tel: +92 21 38280282-3, 38280233
Rahim Yar Khan Office: Office No. 2, Basement, Basheer Plaza, Opposite Town Hall, 12 A Model Town, Rahim Yar Khan. | Tel: +92 68 2011901-9
[email protected] | www.arifhabibltd.com | www.ahltrade.com

TREC Holder of the Pakistan Stock Exchange Ltd. | Branch Reg No. BOA-050 / 01