Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Execution of Framework Agreement (including key terms of proposed Joint Venture), Offtake Agreement and Service Agreement with Pirelli Tyre S.p.A

(cid:9) GROWING TOGETHER Ref: No. BIL/SE/2026-27 (cid:9) To, 22"d October, 2026 (cid:9) BSE Limited National Stock Exchange of India Ltd (cid:9) PhirozeJeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, G Block, (cid:9) Dalai Street, Bandra Kuria Complex, Bandra (E), (cid:9) Mumbai - 400 001 Mumbai - 400 051 Equity Scrip Code: 502355 Trading Symbol: BALKRISIND Scrip Code 977667 (Debt) (1NE787D08047) 977668 (Debt) (1NE787D08039) Scrip Code 977669 (Debt) (1NE787D08054) 978121 (Debt) (1NE787D08062) Scrip Code 978123 (Debt) (1NE787D08070) 978122 (Debt) (INE787008088) Scrip Code 732679(Debt) (1NE787D14235) Dear Sir / Madam, Sub:(cid:9) Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Execution of Framework Agreement (including key terms of proposed Joint Venture), Offtake Agreement and Service Agreement with Pirelli Tyre S.p.A. Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that Balkrishna Industries Limited ("Company") has today, i.e. 22 October 2026, entered into the following agreements with Pirelli Tyre S.p.A. ("Pirelli"): a Framework Agreement setting out the structure, timelines and key terms of the overall transaction between the Company and Pirelli, including inter alia in relation to a joint venture agreement to be entered into between them in future for establishment of a joint venture company in India, to manufacture passenger car radial tyres, in which the Company and Pirelli will each hold 50% of the share capital ("Framework Agreement"); an Offtake Agreement for the manufacture by the Company, at its PCR Plant in Bhuj, Gujarat, of Pirelli- branded passenger car radial tyres as per Pirelli's specifications and their sale to Pirelli and/or its affiliates ("Offtake Agreement"); and a Service Agreement under which Pirelli will provide the Company with certain technical support services relating to BKT branded tyre testing, using inter alia Pirelli's proving grounds, simulation systems and equipment ("Service Agreement"). The details required under the Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/P0D2/CIR/P/2023/120 dated July 11, 2023 (as amended) are enclosed as Annexure A and Annexure B. This intimation is also being made available on the Company's website at wwwAt-tires.com. The meeting commenced at 9:45 a.m. and concluded at 10:30 a.m. Kindly take the same on record. Thanking you, Yours faithfully, For Balkrishna Industries Limited Vipul Shah Director & Company Secretary and Compliance Officer DIN: 05199526 Encl.: As above Page I Balkrishna Industries Ltd. CIN No.: L99999MH1961PLC012185 Corporate Office: BKT House, Cl 15, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai -400013, India. Tel: +91 22 6666 3800 Fax: +91 22 6666 3898/99 www.bkt-tires.com Registered Office: B-66, Waluj MIDC, Waluj Industrial Area, Chhatrapati Sambhaji Nagar— 431 136, Maharashtra, India (cid:9) ANNEXURE A GROWING TOGETHER Details of the Framework Agreement as required under Regulation 30 read with Paras A (5) and A (SA) of Part A of Schedule Ill of the Listing Regulations and Annexure 18 of SEBI Master Circular dated July 11, 2023 Particulars Details Name(s) of parties with whom Pirelli Tyre S.p.A., Italy ("Pirelli"), a joint stock company wholly owned by Pirelli & C. S.p.A. (the parent company of Pirelli group). the agreement is entered To set out the structure, timelines and key terms of the overall transaction between the Company and Pirelli, including inter alio in relation to a joint venture agreement to be entered into between them in future ("11/ Agreement") for the establishment — subject to certain conditions - of a joint venture company in Purpose of entering into the India ("Pi"), which will manufacture passenger car radial ("PCR") agreement tyres under the Pirelli and BKT brands respectively, and, in which, the Company and Pirelli will each hold 50% of the share capital. When established, the JV will set up and operate a new plant in India for manufacturing the PCR tyres. Shareholding,(cid:9) if any,(cid:9) in the 3 . Nil. entity(cid:9) with(cid:9) whom(cid:9) the agreement is executed (a)(cid:9) The Framework Agreement inter cilia contains key terms and timelines relating to the JV Agreement, the establishment of the .IV, and, in the meantime, contemplates the entry into of the Offtake Agreement and the Services Agreement (both of which are described in Annexure B). (b)(cid:9) The JV Agreement is agreed to be executed in the future, and the JV is agreed to be incorporated by December 31, 2030, subject to satisfaction or waiver of the conditions precedent provided under the Framework Agreement and the JV Agreement. Significant(cid:9) terms(cid:9) of (cid:9) the agreement (in brief), including (c)(cid:9) Key terms of the proposed JV Agreement are: special rights such as the right to appoint directors, first right Shareholding: 50:50 between the Company and Pirelli. to share subscription in case of issuance of shares, right to JV governance:(cid:9) Four-member board, with each(cid:9) party restrict any change in capital nominating two directors; rotating chairperson. structure, etc. Capacity: JV manufacturing capacity to be shared equally between the parties. Transfer of IV shares: 5-year lock-in. Following the expiry of the lock-in period, each of the parties will be granted right of first refusal and tag-along rights, with restrictions on transfers to competitors. (d)(cid:9) The Framework Agreement will expire upon the JV Agreement coming into force, and, while the Framework Agreement is in 4)7' Page 2 1.11 Balkrishna Industries Ltd. CIN No.: L99999MH1961PLC012185 Corporate Office: BKT House, Cl 15, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, M d a. Tel: +91 22 6666 3800 Fax: +91 22 6666 3898/99 www.bkt-tires.com Registered Office: B-66, Waluj MIDC, Waluj Industrial Area, Chhatrapati Sambhaji Nagar— 431 136, Maharashtra, India Sr. GROWING TOGE THER Particulars Details force, neither party may enter into a joint venture or similar arrangement in India with a third party for manufacturing car, light truck, motorcycle or bicycle tyres. Plants wholly owned by either party are excluded. Whether the said parties are related(cid:9) to(cid:9) the promoter/promoter No group/group(cid:9) companies(cid:9) in any manner. If yes, nature of relationship Whether (cid:9) the(cid:9) transaction would fall within related party transactions? If yes, whether No. Pirelli is not a related party of the Company. the same is done at "arm's length" In case of issuance of shares to the parties,(cid:9) details of issue Not applicable price, class of shares issued Any other disclosures related to(cid:9) such(cid:9) agreements,(cid:9) viz., details of nominee on the None. Separate disclosures will be made on execution of the JV board of directors of the listed Agreement and incorporation of the N. entity,(cid:9) potential(cid:9) conflict(cid:9) of interest arising out of such agreements, etc. Extent (cid:9) and(cid:9) the(cid:9) nature(cid:9) of 9. impact on(cid:9) management or None. control of the listed entity Details and quantification of 10 The exclusivity restriction in item 4(d) above. ' the(cid:9) restriction(cid:9) or(cid:9) liability imposed upon the listed entity In(cid:9) case(cid:9) of (cid:9) termination(cid:9) or amendment(cid:9) of (cid:9) agreement, listed(cid:9) entity(cid:9) shall(cid:9) disclose additional details to the stock exchange(s):(cid:9) a)(cid:9) name(cid:9) of 11. Not applicable parties to the agreement; b) nature of the agreement; c) date(cid:9) of (cid:9) execution(cid:9) of (cid:9) the agreement;(cid:9) d)(cid:9) details(cid:9) of amendment(cid:9) and(cid:9) impact thereof (cid:9) or(cid:9) reasons(cid:9) [Showing first 8,000 characters — download PDF for full document]