POWERGRID Corporate Disclosure — 20 November 2014

(Continuation of News of POWERGRID):However, the company has hired the services of a firm of Chartered Accountants for the valuation in September 2011 which has now cancelled due to failure to complete the assignment in due time. 3. Exchange rate fluctuation loss amounting to Tk. 58,030,166.38 relating to the outstanding principal amount of loan for the year ended 30 June 2014 of the completed projects that are now in operation has been added to Property, plant and equipment instead of recognizing such loss in Profit and Loss Account. Para-28 of Bangladesh Accounting Standards (BASs-21) requires that the said exchange rate fluctuation loss shall be recognized in Profit and Loss account. (cont. 4)