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Sterling Tools Limited Strengthens Leadership with Two Key Appointments Created by

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Ms. Rashmi Urdhwareshe and Mr. Anish Agarwal bring unparalleled experience to drive innovation and success

Sterling Tools Limited (BSE: 530759) (NSE: STERTOOLS), second largest automotive fastener manufacturer in the country and its 100% owned subsidiary Sterling Gtake E-Mobility Ltd., is the largest MCU manufacturer and supplier to the EV industry in India. STL, today, announced the appointment of Ms. Rashmi Urdhwareshe as an Independent Director and Mr. Anish Agarwal as a Non-Executive & Non-Independent Director.

Ms. Rashmi Urdhwareshe, a highly accomplished individual, holds a master's degree in E&TC and possesses extensive experience in the automotive domain, spanning over 40 years. Her expertise covers areas such as vehicular safety, air quality, R&D, E-mobility, and green technologies. Having retired as the Director at the Automotive Research Association of India (ARAI), her leadership was instrumental in establishing key facilities, including the Center of Excellence in E-Mobility and the Homologation & Technology Centre. Recognized for her outstanding contributions, she has received several awards, including the prestigious Nari Shakti Puraskar 2019, presented by the Hon'ble President of India.

Mr. Anish Agarwal, a third-generation entrepreneur, brings a wealth of expertise in developing and manufacturing products for the automotive industry. Holding degrees from the University of Warwick and Imperial College Business School, London, he supervises new initiatives at Sterling Tools Limited and plays a crucial role as a Director and Board observer in Sterling Gtake E-Mobility Limited. Additionally, Mr. Agarwal serves as a Director on the Board of Sheeva Connected India Private Limited, engaged in the space of vehicle commerce and monetization. His multifaceted role also includes serving as a Director of Sterling Automobiles, a reputable car dealership in Delhi NCR.

Mr. Atul Aggarwal, Whole Time Director of Sterling Tools Limited, commented about the appointments, stating, "The appointment of Ms. Rashmi Urdhwareshe and Mr. Anish Agarwal is set to expedite the company's pursuit of innovation and expansion. Their extensive expertise is poised to fortify the company's strategic objectives, ensuring continued success in this burgeoning sector. Their visionary leadership seamlessly aligns with our commitment to innovation, reinforcing our readiness for sustained growth in the automotive ecosystem.”

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