Praj Industries Ltd Management Discussions

internationally for solutions such as biogenic CO2

process management, and comprehensive O&M services. Prajs expanding portfolio in services, spares, and operations & maintenance is enabling customers to enhance plant performance, extend asset life, and achieve greater resource efficiency. The RemoteBridge TM platform, a digital tool, complements these offerings by providing real-time performance insights and predictive diagnostics. Together, these solutions reflect Prajs commitment to supporting our customers in their journey toward cleaner, more reliable, and profitable operations.

The range of performance enhancers is gaining increasing demand both domestically and internationally, as we actively work to expand their reach in global markets. These bionutrient efficiency solutions boost yeast and catalyze fermentation, enabling improved yields and enhanced plant performance worldwide.

Praj remains at the forefront of Indias bioenergy transition with its advanced second-generation (2G) ethanol technology. The IOCL 2G plant in Panipat, based on Prajs Enfinity TM platform, has produced over 1 million litres of ethanol and is currently undergoing capacity ramp-up and stabilization.

Unlike 1G ethanol, 2G ethanol is made from agri-residues like rice straw helping reduce stubble burning and providing farmers with additional income. With strong policy support, 2G ethanol is set to play a key role in Indias clean energy and rural development goals. In addition to the Panipat project, commissioning is underway for two other major 2G plants HPCLs plant in Bathinda and BPCLs plant in Bargarh.

Ultra-low carbon ethanol produced through 2G technology qualifies as feedstock for Sustainable Aviation Fuel (SAF), making it a key growth driver for the medium to long term. Praj continues to invest in R&D to reduce production costs and improve the commercial viability of 2G ethanol, supporting its expanded role in Indias clean energy future.

Across the globe, ethanol is gaining strategic importance as a key enabler of the clean energy transition. Governments are increasingly adopting ethanol blending mandates to curb emissions, reduce reliance on imported fossil fuels, and boost rural economies through agricultural value addition. The United States and Brazil continue to lead the world in ethanol production and consumption, supported by robust policy frameworks and widespread use of flex-fuel vehicles.

In Brazil, blending rates are consistently around 27%, and the governments "Fuel of the Future" program envisions increasing this further to E30, reinforcing its long-term commitment to biofuels. There is also increasing use of grains as feedstock a notable shift from traditional sugarcane-based ethanol. These developments are setting the tone for more diversified, resilient, and scalable ethanol ecosystems globally.

Building on the momentum of the two projects announced last Brazils year, Praj is making significant transition toward grain-based ethanol production. With corn emerging as a preferred feedstock due to its round-the-year availability and logistical advantages, the Brazilian ethanol industry is gradually adopting a dual-feed approach alongside traditional sugarcane.

Prajs advanced grain-to-ethanol technology is tailored to local requirements and is gaining strong traction in the region. Meanwhile, several other nations including Colombia, Panama,

Argentina, Paraguay are revising policies to accommodate higher blends. Global interest in Sustainable Aviation Fuel (SAF) and Alcohol-to-Jet (ATJ) pathways is also on the rise, positioning ethanol as a versatile and low-carbon feedstock in multiple transport sectors.

In FY 2024-25, Praj secured a significant order from a customer in Paraguay to set up an ethanol plant based on starchy feedstock. Also, Praj secured a repeat order in East Africa for a molasses-baseddistillery,reaffirming its position as a trusted partner for sustainable alcohol production in the region.

Praj is strengthening its international presence with new and repeat orders in Paraguay and East Africa, reflecting growing global demand for its sustainable biofuel and alcohol production solutions.

Praj is strategically positioning itself to capitalize on emerging opportunities in the USA, particularly in the low-carbon ethanol market. We are executing an order for converting an existing ethanol facility into a low carbon ethanol facility in the USA. We secured an order for a project that utilizes lactose separated from milk as feedstock, aligning with the growing demand for sustainable and decarbonized solutions.

Praj is committed to adapting its strategies to align with evolving industry priorities and regulations, ensuring its solutions remain competitive and relevant.

Compressed Biogas (CBG) is rapidly emerging as a key pillar of Indias circular and low-carbon economy. Produced from a range of organic feedstocks such as press mud, spent wash, rice straw, and Napier grass, CBG offers a renewable and sustainable alternative to conventional compressed natural gas (CNG). The market landscape for CBG is also evolving rapidly, with a growing shift from cascade-cylinder distribution to pipeline injection for industrial use, enabling better scalability and logistics efficiency. PrivatecompaniesandOMCsareplaying significantrole in driving this transition, and Praj is actively supporting this momentum with robust technology solutions and successful project execution.

Policy support has been instrumental in accelerating the development of Indias Compressed Biogas (CBG) ecosystem. With strong backing from MNRE and MoPNG, CBG projects are supported by guaranteed offtake. The Sustainable Alternative Towards Affordable Transportation (SATAT) scheme continues to be a key enabler, while the integration of CBG into City Gas Distribution (CGD) networks is opening up new markets and driving commercial viability. As an emerging sector aligned with energy security and waste-to-wealth goals, CBG is poised for significant growth. Under the SATAT scheme, CBG plant development is underway, with ongoing efforts to expand infrastructure pointing to continued interest in building out Indias CBG ecosystem.

Praj has successfully demonstrated commercial-scale CBG production using diverse feedstocks, ensuring consistent performance without loss of Biochemical Methane Potential (BMP) and quality surpassing the stringent standards.

There is rising interest from sugar mills in installing press mud-based CBG plants and in a notable development, Praj received an order to set up a CBG plant co-located within a Napier grass cultivation field, offering an integrated feedstock and production model.

Integrating biobitumen production into CBG plants based on specific feedstocks enhances project economics by transforming the digestate a typical low-value byproduct into a marketable, eco-friendly material used in road construction. This dual-output model maximizes feedstock utilization, improves overall returns, and diversifies revenue streams.

As demand grows for sustainable alternatives in both energy and infrastructure, biobitumen offers an opportunity to align CBG projects with circular economy principles. It also opens up access to emerging markets and policy incentives, making such integrated plants more financially attractive and environmentally impactful.

Sustainable Aviation Fuel (SAF) represents a fast-growing global opportunity, with the market projected to surge to over $16.5 billion by 2030, driven by stringent emission targets and rising demand for cleaner air travel. However, while HEFA (Hydrotreated Esters and Fatty Acids) is currently the dominant pathway, it relies on limited lipid-based feedstocks and cannot alone meet the growing SAF demand.

This highlights the need for alternative routes such as the

Alcohol-to-Jet (ATJ) pathway, which enables the conversion of low-carbon alcohol into aviation-grade fuel.

Praj, through its Bio-Mobility? platform, has developed indigenous technology to convert renewable feedstocks like agricultural residues and lignocellulosic biomass to SAF, aligned with global standards such as ASTM D7566.

Praj has already pioneered SAF production at its R&D centre Indias first such initiative and is collaborating with major industry players to accelerate deployment. With robust R&D, global partnerships, and deep feedstock-to-fuel capabilities, Praj is well-positioned to help scale SAF adoption and drive the global transition to net-zero aviation.

Bio-Prism^?: Transforming Renewable Chemicals & Materials

Plastics have become integral to modern life, revolutionizing industries such as healthcare, packaging, construction, and automotive. Since 1950, global plastic production has surged from 2.3 million tons to over 400 million tons annually, reflecting their widespread use and growing demand.

Prajs Bio-Prism? platform is focused on developing high-value bio-based chemicals and renewable materials, including:

At our Demonstration Facility for Biopolymers in Jejuri, we are showcasing our technology for producing next-generation sustainable materials. This facility is designed to demonstrate production technology, enabling prospective customers to evaluate process performance and product viability for real-world applications in packaging, textiles, and industrial use. With Polylactic Acid (PLA) being the first biopolymer in focus, the future pipeline includes Polyhydroxyalkanoates (PHA) and Butanediol (BDO), broadening the platforms capability to support the growing demand for bio-based alternatives.

Prajs proprietary technology refines Biobitumen a low-carbon, circular economy solution for sustainable road construction.

With a blending capacity of up to 15%, this green material can partially replace fossil-derived bitumen, offering a significant 70% reduction in greenhouse gas (GHG) emissions. The road infrastructure industry stands to benefit from this eco-friendly innovation, which also presents an opportunity to save 4,000 4,500 crore in foreign exchange if India replaces 15% of its conventional bitumen with biobitumen equivalent to nearly 15 lakh tons.

Prajs Biobitumen technology has been successfully used in the construction of the Nagpur-Mansar road project. This eco-friendly innovation, which can partially replace fossil-derived bitumen, is now being used to build the countrys first national highway using biobitumen. crude lignin into

Praj HiPurity Systems Ltd. (PHS) continues to lead in delivering high-purity water systems and Modular Process Systems (MPS) for the pharmaceutical, biotech, and personal care sectors. In FY 2024 25, PHS expanded its offerings across critical applications such as vaccines, injectable formulations, and both synthetic and bio-based APIs, providing solutions that fully comply with global regulatory standards including USFDA, EU-GMP, and cGMP.

PHS is capitalizing on three major growth pillars: global expansion, expansion of its offerings, and cross-sector application of existing solutions. The company has extended its reach into international markets while simultaneously exploring new industrial applications of its core technologies such as ultra-pure water systems for lithium-ion battery production in EVs and semiconductors.

One of the key milestones this year was developing and supplying high-capacity fermenters, including a dedicated high-capacity fermentation complex for a leading pharmaceutical company in South India. In collaboration with Praj Matrix, PHS continues to enhance its technology offerings to meet the evolving needs of biopharmaceutical manufacturing.

Praj HiPurity Systems Ltd. also delivers comprehensive value-added services such as maintenance agreements, round-the-clock technical support, system upgrades, and operator training. These value-added services enhance operational efficiency, ensure regulatory compliance, and maximize asset longevity across the lifecycle of high-purity water and process systems.

The global process equipment market is projected to reach approximately USD 124.78 billion by 2030, growing at a CAGR of 4.58% from 2025, reflectingincreasingdemandforefficient, modular, and scalable industrial solutions. The broader energy transition market is witnessing robust growth, estimated to expand from around USD 2.83 trillion in 2024 to USD 5.42 trillion by 2031, at a CAGR of 9.7%. These trends underscore the rising global focus on sustainable technologies and modularization as key enablers for faster project execution, improved safety, and enhanced resource optimization across industries.

During the year, Prajs state-of-the-art manufacturing facility at

Kandla operated at full capacity, reflecting strong demand across domestic and international markets. The facility played a crucial role in delivering high-quality process equipment and modular assemblies for a range of projects. With optimized capacity utilization and stringent quality systems in place, it continues to be a key enabler in ensuring timely project execution and supporting Prajs commitment to engineering excellence.

Praj GenX Ltd., a wholly-owned subsidiary of Praj Industries Ltd., delivers innovative modular solutions for Energy Transition and

Climate Action (ETCA), addressing the growing global market for process equipment and modularization. Modularization offers key advantages such as reduced execution time, fasterdelivery, global improved safety, and enhanced quality control, making it a preferred approach for efficient and scalable project

Praj GenX has developed a pioneering suite of modular plant design philosophies aligned with the principles of Industry 5.0, focusing on human-centricity, sustainability, and digital integration. The PraModule5.0 platform delivers next-generation modular solutions for the BioEnergy sector, while ModuLess5.0 and ModulFlex extend these benefits to a wider array of industrial applications. These design innovations are supported by the state-of-the-art mega-facility in Mangaluru developed as a model Industry 5.0 plant. It integrates advanced automation, digital technologies, and green manufacturing practices. Commissioned in two phases for efficient ramp-up and operational readiness, the facility is poised to drive growth, with its impact on order book and revenues expected to reflect in FY 2025 26. To ensure quality and reliability, eight customers have audited and approved the facility, demonstrating strong confidence in Praj GenXs capabilities.

A notable highlight is the "Rani Chennamma Team," an all-women workforce trained to operate cutting-edge technologies such as collaborative robots (cobots) and welding machines. With 50 skilled professionals, this team reflects Praj GenXs commitment to gender diversity, inclusive growth, and empowerment.

With a robust pipeline of international inquiries, Praj GenX is well-positioned to capitalize on significant in modular engineering.

The industrial wastewater treatment market is driven by accelerating urbanization, expanding industrial activity, and increasing environmental awareness. These factors are prompting industries to adopt advanced and efficient wastewater treatment solutions to meet stricter regulatory requirements and support sustainability goals. As water scarcity and pollution concerns intensify, the demand for innovative treatment technologies will continue rising across sectors.

Praj is enhancing its water and wastewater treatment offerings efficie nt, andwith modularadvanced,skid-based energy-systems for industrial use. These plug-and-play solutions enable faster deployment and efficient integration, especially in space and time-constrained projects.

During the year, Praj delivered modularized wastewater treatment solutions to select industrial customers, reinforcing its commitment to efficient, scalable, and future-ready systems. These plug-and-play units offer significant advantages including faster deployment, reduced on-site work, space optimization, and ease of integration into existing operations. With growing demand from industries facing time and space constraints, Prajs modular approach is gaining traction as a preferred choice for reliable and sustainable wastewater treatment.

With expertise across sectors like food & beverage, pharma, chemicals, and distilleries, Prajs technologies support Zero Liquid Discharge (ZLD), high water recovery, and resource reuse helping industries reduce freshwater use, meet regulatory norms, and lower operational costs.

Indias brewery equipment market is resurging after a period of quiet, with domestic demand fueling substantial growth. It is projected to rise to US $890 million by 2030, growing at a CAGR of 6.5%. As breweries increasingly seek energy efficiency, water conservation, and quality improvements, Prajs integrated modernization solutions offer minimal downtime, swift commissioning, and dependable performance, especially through brownfield projects across India. Meanwhile, greenfield investments are gaining traction in emerging markets and premium beverage segments, signifying a promising future pipelined toward FY 2025 26.

Prajs R&D Center, Matrix, continues to make remarkable progress, reinforcing its leadership in the global bioeconomy with cutting-edge technologies and innovative solutions. Building on its portfolio of over 400 patents, Prajs focus on Bio-Mobility^? and Bio-Prism? platforms is accelerating decarbonization in mobility and the development of renewable chemicals and sustainable materials.

Asignificant of its Alcohol-to-Jet (ATJ) demonstration facility, which integrates bioprocesses with catalysis. Praj is exploring new pathways to improve the efficiency of production at this facility. leap forward in

Prajs innovative biological pretreatment processes are yielding higher volumes of low-carbon biofuels such as

CBG, and the Pressmud Preservation technology is ensuring consistent, year-round biogas production in CBG plants without loss of biomethanation potential (BMP). Prajs proprietary technologies PMStab for press mud, BMSolve for lignocellulosic feedstocks, and NGStab for Napier grass optimize feedstock stabilization, pretreatment and ensure year-round biogas production by enhancing decomposition and preserving organic content.

Praj has achieved a major milestone under its Bio-Prism^? platform with the commissioning of Indias firstintegrated demonstration facility for biopolymers at Jejuri. This state-of-the-art facility is a significant a sustainable, circular bioeconomy and will play a pivotal role in advancing the development of bioplastics. It will enable commercial-scale production of lactic acid, a key building block for Polylactic Acid (PLA) a renewable, biodegradable

Building on its portfolio of over 400 patents, Prajs focus on Bio-Mobility? and Bio-Prism? platforms is accelerating decarbonization in mobility and the development of renewable chemicals and sustainable materials. alternative to conventional plastics. Beyond PLA, the facility is designed to support the development of other next-generation polymers like Polyhydroxyalkanoates (PHA) and Butanediol (BDO).

Prajs collaboration with the Institute of Chemical Technology has been instrumental in advancing its capabilities in biopolymers. This partnership is exemplified by the establishment of the Parimal and Pramod Chaudhari Centre of Excellence and Innovation for Biopolymers, which serves as a dedicated hub for testing various shapes, forms, and end-use applications of biopolymers driving innovationandreal-worldadoption. step toward decarbonizing

Furthermore, Praj has continued to innovate by unlocking value from biorefinery co-products, reinforcing its commitment to integrated and sustainable bioeconomy solutions. One such advancement is the extraction of plant-based proteins from rice used in ethanol production an initiative that not only adds a high-value co-product stream but also supports the growing global demand for alternative protein sources in food and animal nutrition.

Prajs development of Biobitumen from lignin, an abundant, non-food biorefinery residue, offers a renewable alternative to fossil-based bitumen traditionally used in road construction. Its successful application at the Nagpur Mansar bypass on NH-44marks a significant demonstrating real-world viability and setting the stage for large-scale adoption of green construction materials.

Praj Foundation continues to lead with purpose, driving sustainable change across rural India through integrated programs in preventive healthcare, sustainable water resource development, and education. Our initiatives are deeply aligned with the Sustainable Development Goals and focused on creating lasting impact through community-led action.

Praj Foundations flagship healthcare program, "Food is Medicine," empowers rural women to take charge of their familys nutrition and wellness using simple, traditional, and cost-effective practices. Operating across 6 locations in Maharashtra and Gujarat, the program covers over 100 villages, directly impacting more than 10,000 women and reaching ~50,000 individuals.

By promoting kitchen gardens, reviving iron-rich cooking traditions, and linking health with livelihood through poultry and food processing, the initiative addresses anaemia, boosts immunity, and fosters income generation. Its not just healthcare its holistic empowerment.

Water is central to rural resilience. Through its water conservation efforts, Praj Foundation has rejuvenated water systems across 90 villages 70 in Maharashtra and 20 in Gujarat. More than 10,000 wells and borewells have been revived, bringing over 50,000 acres of land under sustainable irrigation. These efforts have directly benefited 10,000+ families and 40,000+ individuals, securing drinking water, enhancing agricultural productivity, and restoring community confidence in their natural resources.

Praj Foundations education initiatives bridge the gap between aspiration and access. From early childhood literacy to rural entrepreneurship, the focus is on building competencies that last a lifetime.

• 13,000+ children strengthened their foundational literacy and numeracy skills

• 135+ schools and Anganwadis supported

• 275+ teachers trained

• 250+ youth gained hands-on vocational training

• 1,049+ rural youth empowered through entrepreneurship programs

• 150+ rural enterprises established

• 2,800+ high school students introduced to practical technology via the IBT program from school infrastructure • 500+ students annually benefit upgrades

As part of its commitment to sustainable and inclusive development, Praj Industries launched a pioneering initiative to transform Mandede, a village in Mulshi taluka near Pune, into a Net Zero and Climate-Resilient Village. This flagship project is designed to serve as a replicable model for rural sustainability, aligned with global climate goals and national development priorities.

The two-year pilot program adopts a holistic, systems-based approach to address six critical areas: water security, energy efficiency, waste and wastewater management, sustainable agriculture and livelihoods, public health, and quality education.

By leveraging Prajs expertise in the bioeconomy and collaborating with academic and field partners, the initiative is driving measurable progress across environmental and social indicators.

Key interventions during the year included the deployment of improved cookstoves in nearly half of the village households, leading to a significant reduction in fuelwood consumption and carbon emissions. Rooftop solar panels were installed in select homes under a pilot initiative, which has generated strong community interest for wider adoption.

The project also achieved important milestones in water resource management. Desilting of local chain bunds helped improve groundwater recharge and extend water availability during dry months. An integrated watershed management plan has been developed to ensure long-term water resilience.

In the area of waste management, a nature-based greywater treatment system (Eco-STP) has been successfully implemented in one hamlet, with plans underway to expand coverage. Organic waste composting and plastic segregation systems have been introduced at the household and community level, promoting circular waste practices.

This initiative exemplifies Praj Foundations commitment to creating shared value through responsible environmental stewardship and community empowerment. With encouraging early results, the Mandede model is poised for scale-up and replication across other rural geographies in the future.

Prajs journey of innovation and sustainable transformation is powered by its people. We are continuously striving to create business ready talent pool for its actionable 2030 vision. Hiring of Technology and Engineering graduates from campuses under its "StepUP program and grooming them . The company has added key leadership significantinitiative through structured programs is professionals and experienced mid-managerial talent during the year to strengthen capabilities in niche areas. There is continuous thrust through awareness and education about companys Values, Integrity, Ethics and IT Security framework. The company is focussing on 5 critical themes for strengthening the employee engagement namely, Conversation, Connection, Clarity, Competence and Career. It has also launched a focussed People Leadership Development Initiative "People Compass covering a sizeable number of People Managers.

The company is also focussing on comprehensive "Wellness and Happiness programs. It has launched its digital initiative "WISH for all its employees. There are business specific technical programmes regularly conducted under its "TechEdge intervention for continuous upgradation of techno-functional knowledge. There is also thrust on improving skills and overall business connect for people working on our project sites. Our inclusive and performance-driven culture fosters curiosity, collaboration, and a strong sense of purpose, enabling individuals to grow while contributing to larger organizational goals. We are building a workforce that is agile, future-ready, and deeply aligned with our mission to deliver sustainable solutions globally.

Prajs commitment to innovation and sustainable transformation is driven by its dedicated workforce. The organization continually seeks to develop a talent pool aligned with its actionable 2030 vision by recruiting Technology and Engineering graduates through the StepUP program and nurturing them via structured development initiatives. During the year, Praj strengthened its capabilities in specialised areas by adding key leadership and experienced mid-managerial professionals.

The company maintains a strong emphasis on promoting awareness and education related to its Values, Integrity, Ethics, and IT Security framework. Employee engagement is being enhanced through a focus on five critical themes: Conversation, Connection, Clarity, Competence, and Career. Additionally, Praj introduced the People Leadership Development Initiative_ People Compass reaching a significant number of People Managers.

The organization also prioritizes holistic employee well-being through comprehensive Wellness and Happiness programs and has rolled out the digital initiative WISH for all team members. To ensure ongoing techno-functional advancement, regular business-specific technical sessions are conducted under the TechEdge initiative. Skill development and business connectivity efforts are extended to employees at project sites as well.

Prajs inclusive and performance-oriented culture encourages curiosity, collaboration, and a shared sense of purpose, supporting individual growth while advancing the companys mission of delivering sustainable solutions worldwide. The organization is dedicated to developing an agile, future-ready workforce that aligns closely with its global sustainability objectives.

Praj is committed to creating a respectful, inclusive, and equitable work environment for all. Our gender-neutral POSH (Prevention of Sexual Harassment) policy ensures that every employee, regardless of gender identity, feels safe and empowered to speak up. Reinforcing this commitment, our internal platform Uchit serves as a confidential and transparent channel for grievance redressal, promoting fairness and accountability. Together, these initiatives uphold our core values of dignity, trust, and equality- building a workplace culture where every individual can thrive without fear or bias.

In FY 2024 25, Praj Industries continued to be recognized for its commitment to innovation, sustainability, and inclusive excellence through a series of prestigious awards:

Celebrates Prajs commitment to gender diversity and the promotion of women in science, technology, engineering, and mathematics.

This honor recognizes Prajs pioneering contributions to chemical engineering and sustainability. The award underscores our role in shaping the future of Indias chemical industry, aligned with the vision of Viksit Bharat @2047.

Honoring Dr Chaudhari and Praj Matrix for outstanding contributions to chemical innovation and research excellence.

Acknowledges Prajs leadership in advancing disruptive technologies for a circular bioeconomy

Highlights Prajs role in developing high-impact, sustainable technology solutions for the energy sector.

This recognition reinforces our commitment to environmental stewardship and global sustainable development goals through community-based initiatives.

During the year, Praj undertook a comprehensive strategic review to chart the next phase of its growth journey. This forward-looking exercise involved a deep dive into market opportunities, organizational strengths, and evolving customer expectations. Several key initiatives were identified across business segments, operations, and talent development- focused on unlocking new value pools, enhancing execution agility, and strengthening

Prajs role in industrial biotech and sustainable engineering. The resulting roadmap is designed to catalyze accelerated, innovation-driven, and future-ready growth.

As part of our digital transformation journey, Praj successfully implemented SAP S/4HANA to strengthen enterprise-wide systems and processes. This upgrade enables greater operational control, real-time monitoring, and improved data analytics across functions. The integrated platform also lays the foundation for future adoption of AI-driven insights, predictive analytics, and enhanced decision-making, helping us improve efficiency, responsiveness, and strategic planning.

Praj recognizes that operating in dynamic global markets involves a spectrum of risks, including regulatory shifts, geopolitical developments, feedstock variability, and technology disruptions. We proactively manage these through a robust risk management framework that integrates early warning systems, compliance monitoring, and scenario planning. Our diversified portfolio, strong R&D capabilities, and agile execution models help us mitigate market and operational risks, ensuring business continuity and long-term resilience.

At Praj, our commitment to industrial sustainability, renewable energy, and next-gen bio-based solutions is no longer just a vision- it is a reality. We have emerged as a decarbonization partner of choice, expanding globally and driving the adoption of clean energy across aviation, transport, infrastructure, and manufacturing.

Through our R&D hub, Praj Matrix, we continue to lead in process innovation, resource efficiency, and circular economy solutions. Our expertise in high-purity systems, water treatment, and sustainable engineering is helping industries transition to low-carbon operations.

Having delivered on our commitments, we now focus on scaling our impact- strengthening our presence in the global bioeconomy and advancing the transition to a more sustainable industrial future.

This document contains forward-looking statements that reflect Prajs strategic vision, growth expectations, and future business outlook. These statements are based on current market conditions, industry trends, government policies, and managements expectations regarding business performance, technology advancements, and expansion plans.

While we remain committed to innovation, sustainable growth, and long-term value creation, actual results may differ due to various factors, including macroeconomic conditions, regulatory changes, geopolitical developments, and market dynamics.

Praj assumes no obligation to update or revise any forward-looking statements, except as required by law. Stakeholders are encouraged to consider these statements in the context of industry uncertainties and evolving business environments.