Presentation on Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Half Year ended 30 June 2026

July 28, 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: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Presentation on Unaudited Financial Results of the Company for the Quarter and Half Year ended June 30, 2026 Dear Sir/Madam, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith a copy of the Presentation on Unaudited Financial Results of the Company for the Quarter and Half Year ended June 30, 2026. The same is also being uploaded on website of the Company 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 July 28, 2026 Varun Beverages Limited Q2 & H1 CY2026 Results Presentation Disclaimer This communication contains certain forward-looking statements relating to the business, financial performance, strategy and results of Varun Beverages Limited (“VBL” or the “Company”) and/ or the industry in which it operates. Such forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward- looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. Given these uncertainties and other factors, viewers of this communication are cautioned not to place undue reliance on these forward-looking statements. Table of Contents Company Overview Chairman’s Message Q2 & H1 CY2026 Results Overview Performance Highlights Sustainability Initiatives Company Snapshot Key player in the global beverage industry and the second largest franchisee of PepsiCo in the world (outside US) with franchise operations spanning across countries and with distribution rights in additional 4 countries. Total Sales Volumes (mn Cases*) 2020-2025: Sales Volume CAGR: ~23.3% 1,213 1,124 913 374 149 223 425 115 821 839 88 737 653 607 2020 2021 2022 2023 2024 2025 H1 CY2026 India International Note: *A unit case is equal to 5.678 liters of beverage divided in 24 bottles of ~ 237 ml each Note: Map not to scale Complete Brand Portfolio Brands licensed by PepsiCo: Own Brands^: Carbonated Soft Drinks Club Soda Carbonated Soft Drinks Fruit Pulp / Juice Based Drinks Mixers Energy Drink Energy Drink Sports Drink Carbonated Juice Ice Tea Packaged Water Packaged Water Based Drinks Snacks# Dairy Based Beverages* # Manufacturing & Distribution of PepsiCo’s snack foods in Morocco and Zimbabwe and distribution in Zambia; Co-manufacturing of Kurkure Puffcorn in India. ^ Manufacturing & Distribution of own brands is restricted in select territories. * “CreamBell” trademark has been licensed to be used by VBL for ambient temperature value added dairy based beverages. 5 Symbiotic Relationship with PepsiCo Demand Delivery Demand Creation • Production Facilities 34+ • Trademarks • Sales & Distribution – • Formulation through Years of Association GTM & Logistics Concentrate (agreement in India valid till April, 2049) 90%+ • In-outlet Management – • Product & Packaging Visi-Coolers innovation through of PepsiCo India Sales Volume investment in R&D • Consumer Push Management (BTL) - • Consumer Pull Market Share Gains Management (ATL) - Brand Development Key Player in the Beverage Industry – Business Model MANUFACTURING ▪ 53 state-of-the-art production facilities N SOLID INRASTRUCTURE I Concentrate Other Raw ▪ 38 in India & 15 in International territories A Bottling (PepsiCo) Materials E ▪ Robust distribution network with strong distribution infra of L DISTRIBUTION & vehicles, including EVs ROBUST SUPPLY CHAIN V WAREHOUSING ▪ Wide network of owned vehicles R ▪ Wide presence in retail outlets through visi-coolers A CUSTOMER ▪ VBL - local level promotion and in-store activation DEMAND DELIVERY N MANAGEMENT ▪ PepsiCo - brand development & consumer marketing C ▪ Experienced sales team X IN-MARKET EXECUTION ▪ Responsible for category value/volume growth MARKET SHARE GAINS ▪ Path created for reaching out to every 5th person in the world O ▪ Production optimization T - COST EFFICIENCIES ▪ Backward integration (3 exclusive + 19 integrated plants) MARGIN EXPANSION N ▪ Innovation (packaging etc.) ▪ Working capital efficiencies ROE EXPANSION / ▪ Disciplined capex investment CASH MANAGEMENT FUTURE GROWTH ▪ Territory acquisition Chairman’s Message Commenting on the performance, Mr. Ravi Jaipuria, Chairman – Varun Beverages Limited said: “We are pleased to report a strong performance during this quarter across our markets. Consolidated sales volumes grew by 19.8% and, together with improved realizations, translated into a 20.4% increase in net revenue from operations. EBITDA increased by 17.2% to Rs. 23,430.4 million in Q2 CY2026. In India, we saw healthy volume growth in twenties since the onset of season i.e. from March onwards except for the month of April which was about flat resulting in overall volume growth for the quarter of 14.4%. Our expanded manufacturing footprint, extensive distribution network and continued investments in chilling infrastructure continued to drive growth. We also extended our exclusive bottling and trademark licence agreement with PepsiCo in India until April 2049 and removed the earlier restriction requiring VBL to operate solely as an SPV for PepsiCo's business, strengthening our long-term partnership and creating greater operational flexibility to pursue opportunities that can deliver scale, and synergies. We also entered a strategic alliance with Asahi Group Holdings to introduce the iconic CALPIS brand in India, marking our entry into the value-added fermented dairy beverage category. The international business maintained strong momentum. Twizza, in South Africa, helped overcoming capacity constraints, while strengthening our manufacturing footprint and route-to-market capabilities in South Africa. We also entered into an agreement to acquire the business of Devyani Food Industries (Kenya) Limited, which will provide us with the ready GTM in Kenya for expansion into carbonated soft drinks and energy drinks. In accordance with our dividend policy, the Board of Directors has approved an interim dividend of 25% of face value, i.e., Rs. 0.50 per share, resulting in a total cash outflow of approximately ~Rs. 1,691 million. Looking ahead, we remain confident in the long-term growth potential across our markets, supported by favourable demographics, rising disposable incomes and increasing consumption of packaged beverages. With adequate capacities, a growing and diversified portfolio, strong partnerships and an extensive distribution network, we are well positioned to deliver sustained and profitable growth and create long-term value for all our stakeholders.” Key Developments 1. Revised Exclusive bottling appointment and trademark license agreement – India (PepsiCo): ▪ Varun Beverages Limited (“VBL”) and PepsiCo Inc. and its affiliate [Showing first 8,000 characters — download PDF for full document]