CG Holdings Belgium

Dear Stakeholder,

We refer to the earlier disclosures made by our parent company CG Power and Industrial Solutions Ltd in India related to "going concern" status of its step-down subsidiaries CG Holdings Belgium NV and CG Power Systems Belgium NV. Due to these exceptional circumstances our company is currently not in a position to continue its normal operations and the court of Mechelen has declared the CG Belgium entities as bankrupt on February 3rd , 2020. We turned another page in our uninterrupted 73-year history of manufacturing transformers, servicing them, and offering turnkey T&D solutions on all continents. We regret this evolution but believe in our competent employees and our ability to successfully restart a T&D business in Western Europe. The management of the CG companies in Belgium are in discussion with various stakeholders as to ensure continued service of your business in the future.

Should you in the meantime require extra information, we kindly refer to your contacts with the relevant management of the CG Belgium company or the receivers. (Contact : info@vandenberghen.be – vanweerdt@deadvocaterij.be - yves@advocaatdesutter.be)

We apologize for any inconvenience and will contact you as soon as possible.

On behalf of CG Holdings Belgium NV and CG Power Systems Belgium NV,

The management.

Avantha Group Company CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into three business groups: Power, Industrial, and Automation.

CG in Belgium is a leading manufacturer of innovative transformers & a fast growing competitor in the market of substations, integrated solutions & services.