VA Tech Wabag Ltd. updates on AGCC Russia Project.

VA Tech Wabag Ltd had secured an Engineering and Procurement ('EP') order from Amur Gas Chemical Complex LLC., ('AGCC') in Russia in August 2021. The project has been progressing well and based on the progress achieved, the Company has invoiced and collected USD 21.61 Million.

Considering the current geo-political uncertainty in the region, the customer has communicated a suspension of further activities of the said project. The company will continue to engage in discussions with the customer, to periodically evaluate the situation and await resumption of work.

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