Ahmedabad, 29 April 2023: SEBI is conducting an investigation into allegations made by a foreign short-seller on 25 January 2023 and also into market activity before and after that date. We understand that SEBI has approached the Hon'ble Supreme Court for more time to conclude its investigation.

We have welcomed the investigation, which represents a fair opportunity for everyone to be heard and for all issues to be addressed. We are fully compliant with all laws, rules and regulations and are confident that truth will prevail. We are fully cooperating with SEBI and will continue to provide all our support and cooperation.

It is pertinent to note that in the SEBI application filed before the Hon'ble Supreme Court, there are no conclusions of any alleged wrong-doing. The SEBI application only cites the allegations made in the short-sellers report, which are still under investigation.

While we continue to remain focused on our business and growth, we would request the media to avoid needless speculation at this time and wait for SEBI and the Expert Committee appointed by the Hon'ble Supreme Court to complete their work and submit their findings.

Spokesperson, Adani Group