31 January 2020 Automobiles The Board of Directors of MSS have granted an in-principle approval for re- organization of businesses within the group, which includes Demerger of the India wiring harness business into a new company having mirror shareholding as MSS and shall be listed, Consolidation of shareholding in SMRPBV by merging ~49% stake held by Samvardhana Motherson International Ltd (SAMIL) in SMRPBV into MSS. Effectively, the current listed entity (MSS-2) will be left with the global businesses (100% of SMRPBV and PKC) and the remaining India businesses including JVs. The India wiring harness business (MSS-1) will be focused on the domestic India business, as desired by Sumitomo (Refer Exhibit 1 & 6). MSSL-2 will be the global businesses + other India businesses/JVs including the wiring harness JV supplying to Hyundai. SAMIL can look at JVs. Also, MSSL-2 would not have any restriction on acquiring any car wiring harness business outside India (which was restricted so far by Sumitomo).