Dear Friends and Business Partners,

Best wishes for a joyful and prosperous 2020. I hope this email finds you in the best of health and spirit.

It is my distinct honor, and with great excitement, that I announce the appointment of Mr Saibaba Vutukuri as the new Chief Executive Officer of Vikram Solar. This announcement comes in atan important juncture, marking the next phase of growth at Vikram Solar. I will retain my position as the Managing Director. With Sai’s appointment, I will take on a more strategic role involving investments, portfolio diversification, key strategic decisions, and future ventures.

Sai, who joins Vikram Solar from Inox Wind, where he served as the CEO and President, is an outstanding industry leader who brings wide experience across the Renewable Energy sector.His in-depth knowledge of the industry will be very valuable during this critical period as we focus on taking the actions needed to implement changes in our strategy that I believe will drive shareholder value.

With 33 years of business experience, Sai has distinguishably served the green energy sector for more than 2 decades. Prior to his stint at Inox Wind, he has held leadership positions at several organisations including Chief Executive, India Business at Suzlon Energy.

I am confident that under the new leadership of Sai, Vikram Solar will continue to uphold its core values like quality, customer-obsession, and innovation, which make the company distinct in the industry.

My assurance goes out to all our stakeholders that Vikram Solar will stay true to its DNA, andwe will continue to make the best products in the industry that delight our customers. This new step by Vikram Solar is in line with our attempt to improve upon our services and to offer our customers only the best solutions without compromise.

I earnestly look forwardto continued support from all ourstakeholders through this new transition.

Regards,
Gyanesh Chaudhary
MD, Vikram Solar