Extension of Suspension of Business Operations at SITE Rolling Mill

29 October 2025 ASL/PSX/0325/2025

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road Karachi -74000

Dear Sir,

In connection with our earlier communication bearing reference no. ASL/PSX/0304/2025 dated 20 March 2025, we wish to inform you that the Board of Directors, in its meeting held today i.e. 29 October 2025, reviewed the prevailing circumstances that had necessitated the suspension of operations at the Company's SITE Rolling Mill (SRM) and observed that the underlying economic challenges remain unchanged.

In view of these circumstances, the Board of Directors has decided to extend the suspension of operations at SRM for an additional six months. A further review will be undertaken thereafter, and any decision regarding the resumption of operations will depend on a substantial improvement in the broader economic environment. In the meantime, the Company's Dhabeji facility - which constitutes the majority of its production capacity -remains operational, enabling the Company to continue meeting present and anticipated market demand.

This communication is being submitted in compliance with Section 96 of the Securities Act, 2015, and Clause

5.6.1 of the PSX Rule Book, and may kindly be disseminated to the TRE Certificate Holders of the Exchange accordingly.

Yours Sincerely,

Adnan Abdul Ghaffar Company Secretary

cc:

The Director/HOD

Surveillance, Supervision & Enforcement Department Securities and Exchange Commission of Pakistan

NIC Building, 63 Jinnah Avenue Blue Area, Islamabad

STEELS

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@ A/18, SJ.TJ , KaracM-75730.

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