EPACK Durable Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares, and has filed a draft red herring prospectus dated August 11, 2023 (the “DRHP”), with the Securities and Exchange Board of India (“SEBI”), available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers, Axis Capital Limited, DAM Capital Advisors Limited and ICICI Securities Limited at www.axiscapital.co.in, www.damcapital.in and www.icicisecurities.com, respectively, the website of the Company at www.epackdurable.com, and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively.

Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the red herring prospectus, including the section titled “Risk Factors” of the red herring prospectus, when available. Potential investors should not rely on the DRHP for any investment decision.

The report titled “Industry report for IPO – ODM opportunities in Indian Room Air Conditioner and Small Domestic Appliance segments” dated August 1, 2023, exclusively commissioned and paid for by our Company for the purposes of the initial public offer, and issued by Frost & Sullivan (India) Private Limited (“F&S Report”) is subject to the following disclaimer:

“Industry report for IPO – ODM opportunities in Indian Room Air Conditioner and Small Domestic Appliance segments” dated August 1, 2023 has been prepared for the proposed initial public offering of equity shares by EPACK Durable Limited (the “Company”).

This study has been undertaken through extensive primary and secondary research, which involves discussing the status of the industry with leading market participants and experts, and compiling inputs from publicly available sources, including official publications and research reports. Estimates provided by Frost & Sullivan (India) Private Limited (“Frost & Sullivan”) and its assumptions are based on varying levels of quantitative and qualitative analyses, including industry journals, company reports and information in the public domain.

Frost & Sullivan has prepared this study in an independent and objective manner, and it has taken all reasonable care to ensure its accuracy and completeness. We believe that this study presents a true and fair view of the industry within the limitations of, among others, secondary statistics and primary research, and it does not purport to be exhaustive. The results that can be or are derived from these findings are based on certain assumptions and parameters/conditions. As such, a blanket, generic use of the derived results or the methodology is not encouraged.

Forecasts, estimates, predictions, and other forward-looking statements contained in this report are inherently uncertain because of changes in factors underlying their assumptions, or events or combinations of events that cannot be reasonably foreseen. Actual results and future events could differ materially from such forecasts, estimates, predictions, or such statements.

In making any decision, the recipient should conduct its own investigation and analysis of all facts and information and the recipient must rely on its own examination, as and when discussed. The recipients should not construe any of the contents in this report as advice relating to business, financial, legal, taxation or investment matters and are advised to consult their own business, financial, legal, taxation, and other advisors.