This is with reference to the disclosures made on June 8, 2018 and February 18, 2020, wherein we had informed you about the disputes between Zuari Agro Chemicals Limited (" the Company") and Mitsubishi Corporation, Japan ("Mitsubishi") in respect of its JV Company MCA Phosphates
Pte. Ltd. ("MCAP"), initiation of arbitration proceedings against Mitsubishi by the Company and subsequently, of the Partial Award passed by the Arbitral Tribunal in those proceedings.

In continuation of the said disclosures, we would like to inform you that the Company and Mitsubishi, through their lawyers, had entered into a stipulation and agreement on 27 March 2020,in respect of allocation of costs of arbitration proceedings. Please refer the attached file for further details