Update on Company Operations

We present hereunder an Update on the Company’s operations.

(a) Hutti Belt Prospecting Licence (PL) applications —lodging of Interim Applications with the Hon’ble Supreme Court:
We write to inform that our subsidiary, Deccan Exploration Services Private Limited (DESPL) has
lodged an Interim Application with the Hon’ble Supreme Court on March 6, 2019 seeking directions
to the Government of Karnataka to process the Hutti Belt PL applications of DESPL in an expeditious
and time-bound manner and in any case, not later than two months, We shall update the shareholders
of further developments in this regard.

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