Kohinoor Foods Ltd

Dear Members,

It is my privilege to write to you andpresenttheAnnual Report of your Companyfor the financial year2021-22.

I hope this letterfindsyou safe and in good health.

My letter of introduction to yourAnnual Report last year had just completed the first full year of the pandemic, that demonstrate the difficulties faced by the business andperformancedelivered in difficult circumstances.

This year, in the face of continuing challenging ahead, the Company has delivered outstanding resultswhilecontinuingtoinvestforthefuture.

We are committed to doing all this in a way that drives long-term shareholdervalue by creating shared value for all of our stakeholders, including customers, associates, suppliers, business partners, and communities.

In late 2017-18, we set a goal to overcome from the financial crises and work towards regaining the glory of your company, which requires time, courage and trust and encourages others to work towards the same goal. The Board reinforced this commitment in 2021-22, which sets forth our key goals and strategies towards overcoming the situation.

Your Board is committed to maintaining highest standards of corporate governance and will continue to review and strengthen these practices and your Board endless efforts towards strategic transformation during this time of rapid change. Where, it gives confidence that the Board experience to serve our company and to continue to guide us in the years to come to meet the Company purpose - Building a brighter future for all -our fundamental and the role in supporting economic growth, contributing to prosperity, and helping customers achieve their goals.

The present Indian Rice market both in terms of local consumption as well as in exports is very bullish. In the last 2 years, after the dipping of sales figures during the 'Covid Lockdown' era, the rice market has aggressively bounced back. In Basmati alone, India has produced near to 5 million tons of superior quality of rice

and the exports have surpassed 4 million tons in the last fiscal. It is a positive sign for the Indian rice industry more so for the basmati variant that consumption graph ison the up in almost all the quality rice eating countries; the consumption graph in some of the traditional markets such as Iran, Saudi Arabia & Iraq etc. may not be growing very fast but there is no slide down as well. The emerging markets for Indian basmati especially North America and Africa is ever consuming in larger numbers.

Your Company achieved a total turn-over of INR 985.65 Million (Mn.) as against INR401.92 Mn. of last year, the rice business turnover stood at INR 720.87 Mn. as against INR73.34 Mn. of lastyear.

Recently your company has scaled up its operations. It has hired new Marketing team for domestic rice business to make best use of its marketing network and strengthen it further to regain the market share. Now your company has started direct exports to different countries for both rice and food products. Your Company has also started tapping the Domestic Rice Market which carry good potential. Nevertheless, the turnaround story of your Company have been started evolving with your trust and support, as in the last few years, your Company could not perform well because of financial constraint, ongoing economic pressure and pandemic. On the hindsight export market was low on sentiments & actual realization due to economic instability around countries beside ourown constraint of business operation due to liquidity crunch. However Kohinoor is still striving to grow steadily and place its presence around world across renowned players.

KFL participates across nations and around world, under its few prestigious brands for sale of rice and processed & packed food business.

We further inform the members that with an objective to improve the financials of the company, your company is exploring the possibilities such as:

a. Monetising some of the assets of the company

b. Lookingfor Investor to infuse funds in the company.

c. Executing with the Banks for restructuring of borrowings or settlement of loans.

The company is working aggressively on the said lines to improve its financial/businessto achieve theseemless working.

With the objective of bringing authentic Indian flavours to the people all over the world, we want your company Kohinoor Foods Ltd. to become a leading name in the food business globally as well. In pursuit of our vision to make Kohinoor the most trusted & preferred food brand in export markets, we would continue to develop products, increase operational efficiency and follow our successful strategies.

I am grateful to the Board of Directors for their unwavering support and guidance. I also take this opportunity to express my gratitude to all our consumers, business partners, employees and stakeholders who have shown their trust in us and have extended theirconstant support.

I would like to take this opportunity to thank you for your continued trust, confidence, and support as we enter a brave new decade—one that is already rewriting the rules of the past.

With bestwishes,