CA Plume Investments and Bequest Combination

SUMMARY OF THE COMBINATION

Summary under Regulation 13 (1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations), Regulations, 2011 (as amended)

A. Name of the parties to the combination

1. The parties to the combination are:

• (a) CA Plume Investments (“Acquirer”);

• (b) Bequest Inc. ("Bequest”) and

• (c) Quest Global Services Pte. Ltd. (“Target”).

2. The Acquirer, Bequest and the Target are collectively referred to as the “Parties”.

B. Nature and purpose of the combination

3. The proposed combination inter alia relates to the following:

• (a) acquisition of equity stake in the Target by the Acquirer;

• (b) acquisition of additional equity stake in the Target by Bequest; and

• (c) buy-back of equity stake by the Target.

(Collectively, referred to as “Proposed Transaction”)

C. Area of activity of the Parties to the combination

Acquirer – CA Plume Investments

4. The Acquirer is an investment vehicle indirectly controlled by funds managed by affiliates of The Carlyle Group Inc. (“Carlyle”).

5. Carlyle is a global alternative asset manager, which manages funds that invest globally across three investment disciplines: (i) global private equity (including corporate private equity, real estate and natural resources funds); (ii) global credit (including liquid credit, illiquid credit and real assets credit); and (iii) investment solutions (private equity fund of funds program, which include primary fund, secondary and related co-investment activities).

Acquirer – Bequest, Inc.

6. Bequest is a holding entity of the Target’s co-founder and Chief Executive Officer. Its sole purpose is to hold shares of the Target.

Target – Quest Global Services Pte. Ltd.

7. The Target’s primary business focus is to provide engineering services for products and services across product lifecycle to its customers.

D. Respective markets in which the Parties to the combination operate

8. There are no horizontal overlaps, vertical overlaps or complementary businesses between the Acquirer, Bequest and the Target, in India. As such, given that the Proposed Transaction is unlikely to raise any competition concerns, the relevant product and geographic markets may be left open.

E. Green Channel Filing

9. Given that there are no horizontal overlaps, vertical relationships, or complementary businesses between the Acquirer (and the Acquirer’s group), Bequest and the Target in India, the Proposed Transaction does not raise any risk of an appreciable adverse effect on competition in India and is being notified under the Green Channel route, under Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011) (as amended).