We are pleased to inform you that Paras Defence and Space Technologies Limited has entered into an MOU (Memorandum of Understanding) on May 05, 2025 with Hevendrones Ltd., Israel with an intent to create new opportunities and expand both parties' business in the Indian and Global Defence sector. To support the MoU objectives, the parties intend to form a Joint Venture Company in India for development and production of logistics and cargo drones for defence and civil market, all in accordance with the Government of India's Make in India initiative.

Further, the details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 shall be disclosed at the time of entering into Joint Venture agreement for the proposed investment.