Nazara Technologies Subsidiaries Enter Loan Agreements with Fellow Subsidiaries for Business Purposes

Nazara Technologies Limited has informed the stock exchange about its subsidiaries, Paper Boat Apps Private Limited and Kiddopia Inc., entering into loan agreements with fellow subsidiaries, Nazara Technologies UK Limited and Kiddopia Inc., respectively. The purpose of these agreements is to grant unsecured loans for extending inter-corporate loans to fellow subsidiaries for their business purposes. The total loan amount for Agreement I is not exceeding USD 13,96,781 (equivalent to ~INR 12 Crores) and for Agreement II is not exceeding GBP 10,00,000 (equivalent to ~INR 12 Crores). These transactions are exempted under Regulation 23(5)(c) of the Listing Regulations as they are between two wholly-owned subsidiaries of the Company and are on an arm's length basis.