Update on Ongoing Legal Proceedings

Summary by AI ^BETAClose X

Mercantile Ports & Logistics Limited announced an update on legal proceedings concerning its subsidiary, Karanja Terminal & Logistics Pvt. Ltd., where a civil appeal was heard by the Supreme Court of India. The Supreme Court did not issue any adverse orders against the Company and has directed the National Company Law Appellate Tribunal to hear the matter on January 14, 2026, with the possibility of disposing of the appeal on that date. Crucially, the interim order previously granted in MPL's favour on December 10, 2025, remains in effect.

Disclaimer*

Mercantile Ports & Logistics Ltd

18 December 2025

Mercantile Ports & Logistics Limited

("MPL" or the "Company")

Update

Mercantile Ports & Logistics Limited (AIM: MPL), which is operating and continuing to develop a port and logistics facility in Navi Mumbai, Maharashtra, India, provides an update on the ongoing legal proceedings relating to its subsidiary, Karanja Terminal & Logistics Pvt. Ltd.

A civil appeal was listed before the Supreme Court of India earlier today, in which the appellant sought to set aside the interim order previously granted in MPL's favour by the National Company Law Appellate Tribunal (NCLAT) on 10 December 2025.

Following submissions from all parties, the Supreme Court did not pass any adverse order against the Company and directed the NCLAT to hear the matter on 14 January 2026, and, if possible, to dispose of the appeal on that date.

Importantly, the interim order dated 10 December 2025 remains in force.

The Company will continue to pursue all legal remedies available to protect its interests and will provide further updates as appropriate.

For further information, please visit www.mercpl.com or contact:

MPL

c/o Cavendish

+44 (0) 207 220 0500

Cavendish Capital Markets Limited

(Nomad and Broker)

Stephen Keys

+44 (0) 207 220 0500

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