Adani Enterprises Ltd. — M&A Activity 2026

Feb 10, 2026

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February 10, 2026

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

Sub: Intimation of completion of acquisition of 51% of the equity share capital of D P Jain TOT Toll Roads Private Limited by Adani Road Transport Limited, a wholly owned subsidiary of the Company.

Ref: Earlier intimation dated September 12, 2025

Dear Sir/Madam,

We, vide our letter dated September 12, 2025, had informed the stock exchanges of the execution of the share purchase agreement on September 11, 2025, as amended from time to time (“ SPA ”) by Adani Road Transport Limited (“ ARTL ”), a wholly owned subsidiary of the Company with D P Jain TOT Toll Roads Private Limited (“ DPJ TOT ”), D P Jain & Co Infrastructure Private Limited (“ Seller 1 ”) and DPJ-DRA Tollways Private Limited (“ Seller 2 ”) (“ Parties ”), for the acquisition of 100% of the shareholding in DPJTOT.

In this regard, we wish to inform you that ARTL has completed the acquisition of 51% of the equity share capital of DPJ TOT on February 10, 2026 in accordance with the terms of the SPA. The intimation of the same was received by the Company on February 10, 2026 at 08:25 PM. The balance stake held by Seller 1 and Seller 2 in DPJ TOT shall be acquired by ARTL in terms of the SPA, subject to, inter alia, the satisfaction of the relevant conditions precedent and receipt of requisite regulatory approvals/consents as set out therein.

The details of the above acquisition (as required to be furnished pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI Listing Regulations and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30[th] January, 2026) are enclosed as Annexure 1.

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

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

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You are requested to take the same on your records.

Thanking you,

Yours faithfully, For Adani Enterprises Limited

JATINKUMAR Digitally signed by JATINKUMAR RAMESHCHANDR RAMESHCHANDRA JALUNDHWALA A JALUNDHWALA Date: 2026.02.10 21:39:13 +05'30'

Jatin Jalundhwala Company Secretary & Joint President (Legal) Membership No. FCS-3064

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

Tel + 91 79 2656 5555 Fax + 91 79 2555 5500 Investor.ael@adani.com www.adanienterprises.com

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

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Annexure 1

Sr	Particulars	Details
1	Name of the target entity, details in brief such as size, turnover etc.	D P Jain TOT Toll Roads Private Limited (“DPJ TOT”)
2	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	No
3	Industry to which the entity being acquired belongs	Roads - Infrastructure
4	Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	The acquisition is in line with the Company’s strategy to increase its footprint in the road infrastructure development industry
5	Brief details of any governmental or regulatory approvals required for the acquisition	The acquisition is subject to necessary government/regulatory approvals. National Highways Authority of India has approved the acquisition of 100% of the equityshares of DPJ TOT
6	Indicative time period for completion of the acquisition	Acquisition of 51% stake in DPJ TOT has been completed.
7	Consideration - whether cash consideration or share swap or any other form and details of the same	At an enterprise value not exceeding INR 1,342 crore as on September 30, 2025 (subject to closing adjustments thereto) to bepaid in cash
8	Cost of acquisition and/or the price at which the shares are acquired	As above
9	Percentage of shareholding / control acquired and / or number of shares acquired	51% equity shares of DPJ TOT
Adani Enterprises Limited “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle S. G. Highway, Khodiyar Ahmedabad – 382 421 Gujarat, India Tel + 91 79 2656 5555 Fax + 91 79 2555 5500 Investor.ael@adani.com www.adanienterprises.com CIN: L51100GJ1993PLC019067

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

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10	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	DPJ TOT was incorporated on May 6, 2021 under Companies Act, 2013, and holds the concession agreement for tolling, operation, maintenance and transfer of Palanpur-Radhanpur- Samkhayali KM 536 + 000 to KM 430 + 000 section of NH-27 in Gujarat. In the last three financial years the target company has reported turnover of: FY23 INR 122 crore FY24 INR 143 crore FY25 INR 147 crore

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

Tel + 91 79 2656 5555 Fax + 91 79 2555 5500 Investor.ael@adani.com www.adanienterprises.com

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