Lahore, June 08, 2023 (PPI-OT): TPL Trakker Limited (or the "Company") is in the business of providing superior quality GPS, GSM and Satellite Mobile Asset Tracking Management, and Information Solutions. The assigned rating takes into account the Company’s prominent position in Pakistan’s tracking industry, emanating from its multifaceted product portfolio and sanguine technology infrastructure. As diversity becomes inevitable to sustain in its operating segment, the Company is gradually shifting toward business avenues that are more beneficial for the Company’s growth.

The new segments have already achieved above par results, however, incremental yet consistent cash flows remain pivotal. With a niche service area like Digital Mapping and location services, the Company is focused on innovations, partnerships, product development, and direct business development - both in B2B and B2G, to drive stable and sustainable growth for the rest of the year. During the nine-month period ended on Mar'23, the Company reported topline of PKR ~1.69bln (Mar'22: PKR ~1.50bln). While the loss of the Company increased to PKR (~0.08) bln whereas in Mar'22, it stood at (~0.07) bln.

The ratings are dependent upon the strength of the underlying security of the instrument. The instrument is secured through a tiered security structure. In addition to this, specific comfort to the assigned ratings is being drawn from the inclusion of a pre-default mechanism, comprising a facility payment account and facility service reserve account in which one installment will be maintained.

For more information, contact:

Analyst,

The Pakistan Credit Rating Agency Limited (PACRA)

Awami Complex, FB1, Usman Block New Garden Town,

Lahore, Pakistan

Tel: +92-42-5869504-6

Fax: +92-42-5830425

Email: hammad.rashid@pacra.com

Website: www.pacra.com