Material Information

Ref:-CS/Fin/PSX/0075/2025 21 October 2025

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road Karachi

Sub:Disclosure of Material Information - Intention to Acquire upto 100% shares of Akzo Nobel Pakistan Limited

Dear Sir / Madam,

In accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited ("PSX"), IGI Holdings Limited hereby conveys the following information:

IGI Investments (Private) Limited ("IGI Investments") is a 100% wholly owned subsidiary of IGI Holdings Limited ("Company"). We have been informed by IGI Investments that its Board of Directors accorded its in-principle approval, in its meeting held on October 21, 2025 to evaluate and conduct a due diligence for the purchase of upto 98.3% shareholding from ICI Omicron B.V. (a wholly-owned subsidiary of Akzo Nobel NV) ("Substantial Shareholder") and upto 1.7% shareholding from minority shareholders of Akzo Nobel Pakistan Limited ("Target") ("Proposed Transaction"). The Proposed Transaction will be carried out subject to the results of a satisfactory due diligence, finalization of transaction structure, negotiation of purchase price with the Substantial Shareholder, execution of a definitive agreement and compliance with applicable laws and upon fulfillment of applicable corporate and regulatory approvals.

The said disclosure form as required under S.R.O. 143/(1)/2012 dated December 05, 2012 read with Sections 96 and 131 of the Securities Act, 2015 is also enclosed as Annexure A hereto.

You are requested to disseminate the information to the Members of the Exchange accordingly.

Yours sincerely,

Saniya Saeed Khan

Company Secretary

Enclosed as above

Annexure - A

DISCLOSURE FORM

IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015

IGI Investments (Private) Limited ("IGI Investments") is a 100% wholly owned subsidiary of IGI Holdings Limited ("Company"). We have been informed by IGI Investments that its Board of Directors accorded its in-principle approval, in its meeting held on October 21, 2025 to evaluate and conduct a due diligence for the purchase of upto 98.3% shareholding from ICI Omicron B.V. (a wholly-owned subsidiary of Akzo Nobel NV) ("Substantial Shareholder") and upto 1.7% shareholding from minority shareholders of Akzo Nobel Pakistan Limited ("Target") ("Proposed Transaction").

The Proposed Transaction shall be carried out subject to the results of a satisfactory due diligence, finalization of transaction structure, negotiation of purchase price with the Substantial Shareholder, execution of a definitive agreement and fulfilment of all applicable corporate and regulatory approvals and compliance with applicable laws.

The Board of Directors of IGI Investments have authorized its Chief Executive Officer and authorized Director(s), jointly and/or singly to take such necessary steps as are applicable in accordance with applicable laws including but not limited to the negotiation of purchase price, finalization of transaction structure, and appointment of legal and financial advisors for due diligence.

Akzo Nobel Pakistan Limited is an unlisted public limited company and is primarily involved in the manufacturing and sale of paints and coatings.

Pursuant to the requirements of the Securities Act, 2015, the Company has duly caused this form/statement to be signed on its behalf by the undersigned hereunto duly authorized.

Yours sincerely,

For and on behalf of IGI Holdings Limited

Saniya Saeed Khan

Company Secretary