Memorandum of Understanding/Agreements

Dixon Technologies (India) Limited 9th July, 2026 To, To, Secretary Secretary Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Mumbai – 400 051 Dalal Street, Mumbai – 400 001 Scrip Code – 540699 Scrip Code - DIXON ISIN: INE935N01020 ISIN: INE935N01020 Dear Sir/Madam, Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015 and our earlier intimation dated December 15, 2024. This is in continuation of our previous intimation dated December 15, 2024, where we had informed stock exchanges that Dixon Technologies (India) Limited (“Company”) has entered into a term sheet with vivo Mobile India Private Limited (“VMI”) to form a joint venture to undertake original equipment manufacturer (“OEM”) business of electronic devices including smartphones. Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), we hereby inform you that, the Company has executed the following agreements: (i) a joint venture agreement with VMI (“JVA”) to incorporate a joint venture company (“JV Co.”) in India to carry on the business as original equipment manufacturer (OEM) of electronic devices including smartphones, subject to completion of customary conditions precedent (“Proposed Transaction”); and (ii) a shareholders’ agreement with VMI to govern the inter-se shareholder relationship, and rights and obligations in relation to the management and operations of the JV Co., upon its incorporation in accordance the JVA (“Shareholders’ Agreement”). We would also like to intimate that VMI has today received approval of Government of India vide letter dated July 8, 2026 in terms of Press Note 3 of 2020 issued by the Department of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry for incorporation of the JV Co and subscription of shares of JV Co by VMI. Regd. Office: B-14 & 15, Phase-II, Noida-201305, (U.P.) India, Ph.:0120-4737200 E-mail: info@dixoninfo.com • Website: http://www.dixoninfo.com, Fax: 0120-4737263 CIN: L32101UP1993PLC066581 The share capital of the joint venture company will be held in the proportion of 51:49 by the Company and VMI respectively, and neither the Company nor VMI will have any stake in each other. In this regard, details as required under Regulation 30 of the SEBI LODR Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026, are enclosed as Annexure-A. We request you to kindly take this on record. Thanking you. For Dixon Technologies (India) Limited Ashish Kumar President - Chief Legal Counsel & Group Company Secretary Encl: As Above Annexure A Part I Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026 for execution of the JVA for the Proposed Transaction: Sl. No. Particulars Disclosure Agreement/ Joint venture (JV) with companies i. Name of the entity(ies) (i) Dixon Technologies (India) Limited (“Company”); and with whom agreement/ JV (ii) vivo Mobile India Private Limited (“VMI”) is signed; ii. Ar ea of agreement/JV; JV Co shall be incorporated to carry on the business as original equipment manufacturer (OEM) of electronic devices including smartphones in India. iii. Do mestic/international; Domestic iv. Sh are exchange ratio / JV The shareholding in the proposed JV Co shall be as following: ratio; (a) Company – 51%; and (b) VMI – 49%. Neither the Company nor VMI will have any stake in each other. v. Sco pe of business JV Co shall be incorporated to carry on the business as original operation of agreement / equipment manufacturer (OEM) of electronic devices including JV; smartphones. JV Co. will undertake part of VMI’s OEM orders of smartphones in India, and can also engage in OEM business of various electronic products of other brands. vi. De tails of consideration As the JV Co is yet to be incorporated, no consideration has been paid / received in exchanged between the parties. The JVA provides for initial paid up agreement / JV; share capital of INR 5 crore to be contributed in proportion of 51:49 by the Company and VMI. vii. Sig nificant terms and The JVA inter alia provides for the following: conditions of agreement / JV in brief; (a) Subject to conditions provided under the JVA: (i) the Company will hold 51% stake in the JV Co for cash consideration; and (ii) VMI will hold 49% stake in the JV Co for cash consideration. The JV Co will procure valuation reports in accordance with applicable law. (b) At closing of the Proposed Transaction, the JV Co will (i) purchase certain manufacturing assets by way of an asset purchase agreement, and (ii) enter into a manufacturing and packaging agreement with VMI to undertake part of OEM orders of VMI products; and (c) Other customary and/or commercially agreed conditions with respect to representations, warranties, indemnities, termination and dispute resolution. viii. Wh ether the acquisition (a) Post incorporation, JV Co will become a subsidiary of the would fall within related Company as per the Companies Act, 2013. party transactions and whether the promoter/ (b) The transaction will fall within related party transactions on promoter group/ group account of the Company’s shareholding in the JV Co. companies have any interest in the entity being (c) The transaction will be carried out on arm’s length basis. The acquired? If yes, nature of parties and the JV Co (as the case may be) will procure the interest and details thereof relevant valuation reports as required under the applicable laws. and whether the same is done at “arm’s length”; (d) Except to the extent of the share capital to be held by the Company in the JV Co., the promoter/ promoter group/ group companies shall have no interest in the JV Co. (e) Neither the Company nor VMI will have any stake in each other. (f) Further, the Company and VMI are not related parties as on date. ix. Siz e of the entity(ies); The JV Co is yet to be incorporated. The share capital of the JV Co will be held in the proportion of 51:49 by the Company and VMI, respectively. x. Ra tionale and benefit This association will bolster the Company’s manufacturing expected. excellence and superior execution abilities. This partnership will further strengthen the Company’s foothold in the android smartphone ecosystem in India in line with Dixon’s strategic goals. In the event that any such N/A arrangement is called off for any reason, the same shall be disclosed along with the reasons for calling off the proposal Part II Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026 for investment in shares of JV Co as part of the Proposed Transaction. Sl. Particulars Disclosure a. Name of the target entity, details in The JV Co is yet to be incorporated. Accordingly, name, brief such as size, turnover etc. size and turnover of the JV Co are not available for disclosure. The share capital of the JV Co will be held in the proportion of 51:49 by the Company and VMI, respectively. b. Whether the acquisition would fall (a) Post incorporation, JV Co will become a subsidiary of within related party transaction(s) the Company as per the Companies Act, 2013. and whether the promoter /promoter group/ group companies have any (b) Issuance of equity shares by the JV Co to the interest in the entity being acquired? Company on closing of the Proposed Transaction will If yes, nature of interest and details be a related party transaction between the Company thereof and whether the same is done and [Showing first 8,000 characters — download PDF for full document]