In accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited (“PSX”), we at this moment convey the following information:

The Board of Directors of Engro Corporation Limited (the “Company”) has authorized the Company to pursue (directly or indirectly, through one or more of its group companies) a potential investment opportunity in the tower infrastructure sector in Pakistan. This opportunity remains subject to certain conditions, including, among other things, further due diligence, finalization and execution of definitive documents, and receipt of all regulatory consents and approvals.

Any further developments in this respect shall accordingly be notified as per applicable laws.