Adani Enterprises Ltd. — M&A Activity 2025

Nov 27, 2025

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November 27, 2025

BSE Limited P J Towers, Dalal Street, Mumbai – 400001

National Stock Exchange of India Limited Exchange plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051

Scrip Code: 512599

Scrip Code: ADANIENT

Dear Sir,

• Sub: Intimation for signing of Share Purchase Agreements by Horizon Aero Solutions Limited and Adani Defence Systems and Technologies Limited, subsidiaries of the Company, with Flight Simulation Technique Centre Private Limited, Flight Simulation Solutions Private Limited and their existing shareholders.

Ref: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

With reference to the captioned subject, we would like to inform that Adani Defence Systems and Technologies Limited (ADSTL), wholly owned subsidiary of the Company and Horizon Aero Solutions Limited (HASL) (subsidiary of ADSTL having 50% held by ADSTL and 50% held by Prime Aero Services LLP), have signed share purchase agreements dated November 27, 2025 with Flight Simulation Solutions Pvt. Limited (FSS) and Flight Simulation Technique Centre Pvt. Limited (FSTC), subsidiary of FSS and their existing shareholders to acquire effectively 72.8% stake in FSTC. The information of the same has been received by the Company on November 27, 2025 at 2:29 PM. A media release on the said subject is also annexed herewith.

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11[th] November, 2024 are given as under:

Sr. No.	Particulars	Details
1.	Name(s) of parties with whom the agreement is entered	- Adani Defence Systems and Technologies Limited (ADSTL), wholly owned subsidiary of the Company - Horizon Aero Solutions Limited (HASL), subsidiary of ADSTL - Flight Simulation Solutions Private Limited (FSS)

Adani Enterprises Limited	Tel + 91 79 2656 5555
Adani Corporate House	Fax + 91 79 2555 5500
Shantigram Near Vaishno Devi Circle	info@adani.com
S. G. Highway, Khodiyar, Ahmedabad – 382 421	www.adani.com
Gujarat, India
L51100GJ1993PLC019067

Registered Office : Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382 421, Gujarat, India

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Sr. No.	Particulars	Details
		- Flight Simulation Technique Centre Private Limited (FSTC), subsidiary of FSS; - Existing Shareholders of FSTC & FSS.
2.	Purpose of entering into the agreement	Acquisition of 72.8% stake of FSTC by HASL and ADSTL
3.	Shareholding, if any, in the entity with whom the agreement is executed	Nil
4.	Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.	HASL and ADSTL together will acquire effectively 72.8% stake in FSTC. The cost of acquisition would be at Enterprise Value of INR 820 Cr.
5.	Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	ADSTL is a wholly owned subsidiary of the Company HASL is a step subsidiary of the Company.
6.	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length”	No
7.	In case of issuance of shares to the parties, details of issue price, class of shares issued;	Not Applicable
8.	Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc;	Not Applicable
9.	In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s):	Not Applicable
(a)	name ofparties to the agreement;
(b)	nature of the agreement;
(c)	date of execution of the agreement;

Adani Enterprises Limited Adani Corporate House Shantigram Near Vaishno Devi Circle S. G. Highway, Khodiyar, Ahmedabad – 382 421 Gujarat, India L51100GJ1993PLC019067

Tel + 91 79 2656 5555 Fax + 91 79 2555 5500 info@adani.com www.adani.com

Registered Office : Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382 421, Gujarat, India

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Sr. No.	Particulars	Details
(d)	details of amendment and impact thereof or reasons of termination and impact thereof.

Kindly take the same on your records.

Thanking you

Yours faithfully,

For Adani Enterprises Limited JATINKUMAR Digitally signed by JATINKUMAR RAMESHCHANDR RAMESHCHANDRA A JALUNDHWALA Date: 2025.11.27 17:58:54 JALUNDHWALA +05'30' Jatin Jalundhwala Company Secretary & Joint President (Legal) Membership No.: F3064

Adani Enterprises Limited Adani Corporate House Shantigram Near Vaishno Devi Circle S. G. Highway, Khodiyar, Ahmedabad – 382 421 Gujarat, India L51100GJ1993PLC019067

Tel + 91 79 2656 5555 Fax + 91 79 2555 5500 info@adani.com www.adani.com

Registered Office : Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382 421, Gujarat, India