Press Release

September 14, 2026 To, To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex Floor no. 25, PJ Towers Bandra (E) Dalal Street Mumbai – 400 051 Mumbai – 400 001 Trading Symbol: “SOLARINDS” Scrip Code: 532725 Through NEAPS Through BSE Listing Center Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Sub: Press release on proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited Dear Sir/Madam, In accordance with Regulation 30 and other applicable provisions of the Listing Regulations, please find enclosed a copy of our press release titled ’Solar Group Expands Global Footprint with Proposed Acquisition of South Africa’s Omnia Holdings Limited for ₹12,951 Crores by Solar SA Investments Proprietary Limited’. The press release is also accessible on the Company's website at www.solargroup.com. Kindly take the aforesaid information on record. Yours truly, For and on behalf of Solar Industries India Limited Khushboo Pasari Company Secretary & Compliance Officer Encl: As above Solar Group Expands Global Footprint with Proposed Acquisition of South Africa’s Omnia Holdings Limited for ₹12,951 Crores by Solar SA Investments Proprietary Limited Nagpur, India; September 14, 2026: Solar SA Investments Proprietary Limited, a wholly owned step down subsidiary of Solar Industries India Limited (NSE: SOLARINDS; BSE: 532725) ("Solar Group"), a leading global manufacturer of explosives and ammunition, and Omnia Holdings Limited (JSE: OMN) ("Omnia", and together with its subsidiaries, the "Omnia Group"), an international diversified group providing innovative products, solutions and specialised services to the mining and agriculture sectors, today announced the signing of definitive agreements under which Solar SA Investments Proprietary Limited (“Solar SA”) will acquire all outstanding shares of Omnia in an all-cash transaction for a consideration of approximately US$1.355 billion (₹12,951 crores), subject to customary closing conditions, including receipt of required regulatory approvals and approval by Omnia shareholders ("Offer"). Headquartered in South Africa and listed on the Johannesburg Stock Exchange (JSE), Omnia has a 73-year heritage and entrepreneurial legacy that has enabled it to evolve from an agriculture-focused business into a diversified international group with deep expertise and differentiated solutions across the mining and agriculture sectors. Today, Omnia operates in 23 countries and serves customers in more than 40 countries through over 70 distribution centres across Southern and Western Africa and key international markets including Australia, the United States, Canada, Brazil and Indonesia. For the financial year ended March 31, 2026, Omnia reported revenue of approximately US$1.41 billion (₹13,307 crores) and remained net cash positive, reflecting its financial discipline and strong position as a leading global player in explosives, mining solutions and agriculture. Strategic Rationale: Creating a Global Platform for Commercial Explosives and Blasting Solutions. Over the past three decades, Solar has built a strong position in the global explosives industry through its focus on innovation, reliability, manufacturing excellence and customer-centric solutions. The Solar Group has also steadily expanded its footprint across Africa, building customer relationships, operational capabilities and market access across key mining jurisdictions. Solar first entered the Southern African Development Community (SADC) region in 2010 with the establishment of a manufacturing facility in Zambia. It subsequently commenced operations in South Africa in 2015 through a distribution platform, followed by the commissioning of its manufacturing facility in Middelburg in 2017. These investments have enabled Solar to establish a strong operational foundation and become a trusted partner to the region's mining industry. In 2024, Solar strengthened its South African presence through the acquisition of ProBlast, a local South African company specialising in open-cast mining, drilling, blasting and explosives services. Building on this foundation, the proposed acquisition of Omnia by Solar SA represents the next strategic step in Solar Group’s SADC growth journey, significantly expanding its operational, manufacturing and distribution capabilities. The proposed transaction marks a transformational milestone in Solar Group’s strategic ambition to become a leading global explosives and mining solutions provider by enhancing its scale, market access and competitive positioning across Africa and other international markets. Omnia's Mining business, operating under the well-established BME brand, brings significant expertise in open-cast mining, bulk explosives, electronic detonation systems, digital blasting solutions and mining chemicals, alongside a strong presence across Africa and international markets. Omnia's Agriculture segment provides a compelling platform that promotes sustainable agriculture and food security through a customer-centric approach. Leveraging its proprietary Nutriology® model and Agribio biological solutions, the business delivers science-based crop nutrition products and services to customers across multiple geographies. A key strategic attraction of the transaction is Omnia's integrated manufacturing infrastructure. The agriculture segment operates nitric acid and ammonium nitrate production facilities which is the largest, most reliable and sustainable in the region. In addition, Omnia has recently expanded its ammonium nitrate storage infrastructure through a new 5,000-tonne storage tank, doubling its storage capacity. These capabilities are expected to significantly strengthen vertical integration, enhance security of supply, improve raw material availability, increase operational flexibility and reinforce Solar Group's long-term cost competitiveness across the explosives value chain. Together, Omnia's Mining and Agriculture businesses, supported by a strong integrated manufacturing and supply chain platform, provide a robust industrial base to support the combined Solar Group's long- term growth ambitions. Omnia is also led by an experienced management team with deep operational, financial and sector expertise and a proven track record of executing its growth strategy. The proposed acquisition is expected to drive commercial growth and operational efficiencies through technology innovation, broader customer coverage, enhanced supply chain resilience, greater product and service integration and accelerated development of advanced blasting solutions. The combination will serve as a significant catalyst for Solar Group's next phase of growth. The transaction would create one of the largest and most integrated explosives and blasting solutions platforms globally, with expanded manufacturing capabilities, enhanced market reach and access to strategically important mining jurisdictions. The benefits of this expanded footprint, strengthened industrial base and broader customer access are expected to become increasingly visible from FY2028, increasing Solar Group's revenue attributable to Africa's mining market by multi-fold growth. The acquisition is therefore expected to be highly complementary to Solar Group’s long-term vision of becoming a leading global explosives, blasting solutions and industrial chemicals enterprise. Management Commentary Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group, said: "Omnia is a business we have long admired for the strength of its Mining and Agriculture businesses, differentiated technologies and brands, and deep customer relationships built over many years. The proposed transaction marks an important milestone in our ambition to become a global leader in explosives and blasting solutions, while also providing us with a meaningful entry into integr [Showing first 8,000 characters — download PDF for full document]