General Updates

October 7, 2026 National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Block G, C/1, Bandra Kurla Phiroze Jeejeebhoy Towers Complex, Bandra (E), Mumbai - 400 051 Dalal Street, Mumbai - 400 001 Email: cmlist@nse.co.in Email: corp.relations@bseindia.com Symbol: VBL Security Code: 540180 Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, We would like to inform you that the Investment and Borrowing Committee of the Board of Directors of Varun Beverages Limited at its meeting held today (started at 3:30 P.M. and concluded at 3:45 P.M.) considered and approved to invest upto 26% of Equity Share Capital of Jager Renewables Private Limited (a special purpose vehicle inter-alia engaged to generate & supply solar power to consumers in the state of Uttar Pradesh) for a consideration of upto Rs. 4.10 Crore to obtain solar power for captive consumption. The detailed disclosure as required under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure - I. The same is being uploaded on website at www.varunbeverages.com. You are requested to take the above on record. Yours faithfully, For Varun Beverages Limited Ravi Batra Chief Risk Officer & Group Company Secretary Encl.: As above Annexure - I Disclosure under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular dated January 30, 2026 S. Particulars Disclosure 1. Name of the target entity, details Jager Renewables Private Limited (“Company”) is a in brief such as size, turnover etc. special purpose vehicle incorporated on September 8, 2020 under the group captive model envisaged under the Electricity Act, 2003 to generate & supply solar power to consumers in the state of Uttar Pradesh. The Company is yet to begin its operations. 2. Whether the acquisition would fall No. within related party transaction(s) and whether the promoter/ The promoter / promoter group / group companies of promoter group/ group Varun Beverages Limited (“VBL”) does not have any companies have any interest in interest in the Company, except this proposed the entity being acquired? If yes, transaction of investment through VBL. nature of interest and details thereof and whether the same is done at “arm’s length” 3. Industry to which the entity being Renewable Power Producer acquired belongs 4. Objects and impact of acquisition VBL intends to obtain solar power (generation and (including but not limited to, supply) from the Company for its facilities located in disclosure of reasons for Gorakhpur, Prayagraj and any other new facility set up acquisition of target entity, if its in the state of Uttar Pradesh. Solar power is environment business is outside the main line friendly and will also reduce the power cost at the said of business of the listed entity) facilities. Accordingly, as per the Electricity Act, VBL being captive user, is required to make investment in the Company. 5. Brief details of any governmental Not applicable or regulatory approvals required for the acquisition 6. Indicative time period for Completion of this transaction is expected on or before completion of the acquisition October 6, 2027. 7. Consideration - whether cash Cash consideration consideration or share swap or any other form and details of the same 8. Cost of acquisition and/or the As a part of the proposed transaction, VBL being the price at which the shares are captive user, would be investing upto Rs. 4.10 Crore, in acquired one or more tranches, in the equity shares of the Company. 9. Percentage of shareholding / On completion of the aforesaid transaction, VBL shall control acquired and / or number hold upto 26% of equity share capital in the Company. of shares acquired 10. Brief background about the entity Jager Renewables Private Limited is a special purpose acquired in terms of products/line vehicle incorporated on September 8, 2020 under the of business acquired, date of group captive model envisaged under the Electricity Act, incorporation, history of last 3 2003 to generate & supply solar power to consumers in years turnover, country in which the state of Uttar Pradesh. the acquired entity has presence and any other significant Company is yet to begin its operations, so history of last information (in brief) 3 years is not applicable.