Acquisition

VAML/Sec./SE/26-27/21 July 30, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers “Exchange Plaza” Dalal Street, Fort Bandra-Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544780 Symbol: VAML Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time) (“Listing Regulations”) Dear Sir/Madam, In continuation to our Letter No. VAML/Sec./SE/26-27/18 dated July 30, 2026 and pursuant to Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), read with Schedule III thereto, we wish to inform you that the Board of Directors of Vedanta Aluminium Metal Limited (the "Company"/"VAML"), at its meeting held today, i.e., Thursday, July 30, 2026, has, inter alia, approved the following: 1. In continuation to Letter No. VEDL/Sec./SE/22‐23/192 dated January 23, 2023 filed by Vedanta Limited in relation to tie up for long term renewable power supply for the Vedanta Group, the Board of Directors of VAML have approved the execution of definitive agreements with Serentica Renewable India 9 Private Limited (“SRI9PL”) for integration of a Battery Energy Storage System (“BESS”) having a capacity of 150 MW Round-The-Clock (“RTC”) (with 95% assured supply) by utilizing the existing 600 MW Solar Power Delivery Agreement (“PDA”). The proposed project will enable conversion of the existing solar power arrangement into a RTC renewable power solution, thereby ensuring reliable renewable power supply during non-solar hours and supporting the Company's renewable energy transition, decarbonization roadmap, and regulatory compliance requirements. As part of the Group Captive structure, the Company proposes to infuse of INR 165 Crore representing 26% investment in the project, in compliance with the group captive provisions under the applicable regulations. The BESS project is proposed to be developed on a BOOM (“Build-Own-Operate-Maintain”) basis and power shall be supplied under a long-term arrangement for a period of 25 years from the date of commissioning of the project. The SPV is expected to start delivering the power within 12 months of the PDA signing. The project will be funded on 70:30 debt to equity basis. Further, the information as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, is annexed as “Annexure-A”, to this letter. The meeting of the Board of Directors of the Company commenced at 01:20 p.m. IST and concluded at 02:18 p.m. IST. Vedanta Aluminium Metal Limited REGISTERED OFFICE: Vedanta Aluminium Metal Limited, C-103, Atul Projects, Corporate Avenue New Link, Chakala MIDC, Mumbai, Maharashtra, India, 400093 | Ph: +91 11 4226 2300 CIN: U24202MH2023PLC411663 | Email: vaml.sect@vedanta.co.in | website: www.vedantaaluminium.com The above information shall also be made available on the website of the Company at: www.vedantaaluminium.com We request you to please take the above on record. Thanking you. Yours faithfully, For Vedanta Aluminium Metal Limited Dashmeet Rana Company Secretary & Compliance Officer Enclosed: As above Vedanta Aluminium Metal Limited REGISTERED OFFICE: Vedanta Aluminium Metal Limited, C-103, Atul Projects, Corporate Avenue New Link, Chakala MIDC, Mumbai, Maharashtra, India, 400093 | Ph: +91 11 4226 2300 CIN: U24202MH2023PLC411663 | Email: vaml.sect@vedanta.co.in | website: www.vedantaaluminium.com Annexure A S. Details Required Information of such event 1 Name of the target entity, details in brief such as siz Serentica Renewables India 9 Pvt. Ltd. (“SRI9PL”) is a e, turnover etc. SPV incorporated on 30 September 2022 to build, own & operate renewable energy projects in India to supply power to the consumers. Revenue generation of said entity started from FY 2026-27. Battery Energy Storage System (“BESS”) is proposed under the existing SPV signed with SRI9PL to supply Round the Clock (“RTC”) power to Vedanta Aluminium Metal Limited (“VAML”). 2 Whether the acquisition would fall within related Yes, 26% of investment will be held by VAML in SRI9PL party transaction(s) and whether the promoter/ for the long-term supply of renewable energy with the promoter group/ group companies have any interest contracted capacity of 150 MW during Non-Solar in the entity being acquired? If yes, nature of interest Hours (1800 to 0800 hours) & upto 250 MW during and details thereof and whether the same is done at Solar Hours (0800 to 1800 hours). VAML will infuse “arm’s length”; additional investment of INR 165 Crore. The remaining investment in SPV will be held by Serentica Renewables India Pvt. Ltd., a fellow subsidiary and / or its affiliates or any other party. This project will be funded on a 70:30 debt to equity basis. The investment will be at par as per shareholder’s agreement and the tariff agreed has been independently benchmarked by a third party, with reference to prevailing market tariff for Renewal E nergy Power. 3 Industry to which the entity being acquired belongs; Renewable Energy 4 Objects and impact of acquisition (including but not As part of the Group’s ESG initiatives and to secure limited to, disclosure of reasons for acquisition of renewable energy during non-solar hours under a target entity, if its business is outside the main line captive arrangement, VAML aims to reduce its of business of the listed entity) dependence on higher-cost conventional power procured through the power exchange. To facilitate the supply of such non-solar renewable energy on a long-term basis, the existing SPV, SRI9PL, is being u tilized as the power supplier to VAML. 5 Brief details of any governmental or regulatory All requisite approvals as may be applicable will be approvals required for the acquisition sought. 6 Indicative time period for completion of the The investment in SRI9PL will be made in accordance acquisition with the shareholders’ agreement. 7 Consideration ‐ whether cash consideration or share VAML shall infuse INR 165 Cr in SRI9PL to maintain its swap or any other form and details of the same shareholding in the SPV SRI9PL in line with the shareholder agreement. The SPV will build, own, operate and maintain the existing solar plant and undertake additional investment to build the Battery energy storage project to supply power to VAML. After commissioning of the Project, electricity tariff will be Vedanta Aluminium Metal Limited REGISTERED OFFICE: Vedanta Aluminium Metal Limited, C-103, Atul Projects, Corporate Avenue New Link, Chakala MIDC, Mumbai, Maharashtra, India, 400093 | Ph: +91 11 4226 2300 CIN: U24202MH2023PLC411663 | Email: vaml.sect@vedanta.co.in | website: www.vedantaaluminium.com paid by VAML to SRI9PL in accordance with the terms & conditions of the project agreement. 8 Cost of acquisition and/or the price at which shares The investment in SRI9PL will be made at par, in are acquired accordance with the shareholders’ agreement. 9 Percentage of shareholding / control acquired and / Please refer to point 2 above. or number of shares acquired 10 Brief background about the entity acquired in terms SRI9PL is a SPV incorporated on 30 September 2022 to of products/ line of business acquired, date of build, own & operate renewable energy projects in incorporation, history of last 3 years turnover, India to supply power to the consumers. SRI9PL will be country in which the acquired entity has presence developing solar and Battery energy storage projects and any other significant information (in brief) along with necessary infrastructure to supply renewable power to VAML in line with the captive regulations under Electricity Rules, 2005. Revenue generation of said entity started from FY 2026-27. Vedanta Aluminium Metal Limited REGISTERED OFFICE: Vedanta Aluminium Metal Limited, C-103, Atul Projects [Showing first 8,000 characters — download PDF for full document]