Consent letter on the letterhead of JV Partner Date: [] To Hindustan Aeronautics Limited 15/1 Cubbon Road Bangalore - 560 001

Karnataka, India Dear ir/!ada", Proposed initial public offer of equity shares of Hindustan Aeronautics Limited (Company) through an offer for sale by the Go ernment of !ndia (the "ffer) T#i$ i$ %it# re&eren'e to (our letter regarding $#aring a 'o)( o& t#e agree"ent *+ Agreement,%it# t#e Book Running .ead !anager$ and t#e legal 'oun$el$ and di$'lo$ure o& our na"e and 'ertain detail$ o& t#e /gree"ent *+#isclosures,- in t#e Dra&t Red 0erring 1ro$)e'tu$ and $ub$e2uentl( t#e Red 0erring 1ro$)e'tu$ and 1ro$)e'tu$3 4e #ereb( 'on$ent to, and #a5e no ob6e'tion to, t#e Di$'lo$ure$ to be "ade in Dra&t Red 0erring 1ro$)e'tu$ to be &iled %it# e'uritie$ and 78'#ange Board o& India *+$%&!,-, t#e Bo"ba( to'k 78'#ange .i"ited and t#e 9ational to'k 78'#ange o& India .i"ited *t#e +$toc' %(changes,-, t#e Red 0erring 1ro$)e'tu$ and t#e 1ro$)e'tu$ to be &iled %it# 7BI, t#e to'k 78'#ange$ and t#e Regi$trar o& Co")anie$, %#i'# t#e Co")an( intend$ to i$$ue in re$)e't o& t#e )ro)o$ed :&&er3 4e &urt#er under$tand t#at t#e Di$'lo$ure$ %ould be "ade onl( a$ dee"ed &it b( t#e Co")an(, t#e 1re$ident o& India, a'ting t#roug# t#e De)art"ent o& De&en'e 1rodu'tion, !ini$tr( o& De&en'e and t#e Book Running .ead !anager$ to t#e :&&er, and do not i")o$e an( obligation on t#e Co")an( to "ake an( or all o& t#e Di$'lo$ure$ &or %#i'# t#e 'on$ent i$ being $oug#t in ter"$ o& t#e a&ore$aid letter, and granted in ter"$ o& t#i$ letter3 T#i$ letter "a( be relied u)on b( t#e Book Running .ead !anager$ and t#eir ad5i$or$ in re$)e't o& t#e :&&er3 T#ank ;ou, ;our$ &ait#&ull(, )or *+ Authorised $ignatory

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