Sitara Peroxide : PROGRESS REPORT

PEROXIDE LIMITED

r. Muhammad Shariq Husain

^ Assistant Manager, Listed Companies Compliance, Regulatory Affairs Division, Stock E.xchange Building, Stock Exchange Road,

Karachi.

Dear Sir,

Subject: Progress Report

Date: I 4.04.?026

Reference: PSX Letter No. PSX/ Gen-411 dated April 07, 2026 seeking progress report.

The plant was closed in otder to avoid continuous operational losses and moving for complete balancing. modernization and replacement (BMR) of the plant & machinery in the long term interest of all the stakeholders.

Duriny this process, the management signed settlement agreement with main lender, namely, UBL Sukuk and made full & final payment in October 2025. Now negotiations are under way with another financial institution to sign a settlement agreement for full & final payment and avoiding any litigation.

It w as utmost necessary to cischarg.• all iiahilities of financial institutions in order to reduce iir,ancial burden on the company and move for fresh tunding through equity and/or banks borrowing.

Request: The management is actively engaged with the tânancial institutions to raise the requisite funding. In view of the aforesaid, it is requested to consider the aforesaid progress positively and take lenient view to put the company on the path of' complete BMR and operation in the foreseeable future in the long term interest ot atI the stakeholders.

Yours truly,

for SITARA PEROXIDE LIMTIED

Pakistan StockEKChBnqe Llm*t*‹!

Com Secretary (MazJiar Ali Khan)

Cc:

I . N Superv on Di ision SECP

2. The diet Regtiatory Officer PSX