Emami Ltd — M&A Activity 2020

May 14, 2020

Date: 14th May, 2020

The Secretary The Secretary The National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Plot No. C/1, G. Block Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai – 400 051 Mumbai – 400 001

The Secretary The Calcutta Stock Exchange Limited 7, Lyons Range Kolkata – 700 001

Dear Sirs,

Sub: Press Statement

Enclosed please find the copy of the Joint Press Statement given by the Promoters of the Emami Group and Nuvoco Vistas Corporation Limited to clarify the queries raised on the completion of the Proposed Transaction agreed by them on 6th February, 2020 regarding divestment of its 100% equity stake in Emami Cement Limited .

This is for your information and record.

Thanking you,

Yours faithfully, For Emami Limited

A. K. Joshi Company Secretary & VP-Legal (Encl. : As above)

PRESS STATEMENT

Date: 14th May, 2020

This has reference to the formal press announcements made by the Emami Group ("Emami") and Nuvoco Vistas Corporation Limited ("NVCL") on 6th February, 2020 regarding the promoters of the Emami Group entering into a binding agreement with NVCL (part of the Nirma Group) for the divestment of its 100% equity stake in Emami Cement Limited ("Emami Cement") for an enterprise value of INR 5500 crores. ("Proposed Transaction").

We have been receiving queries from certain section of Media regarding possibility of the said deal not progressing further in the backdrop of the current unprecedented circumstances due to Covid-19 pandemic.

We would like to clarify that the queries raised on the completion of the Proposed Transaction are completely speculative and incorrect. Completion of the Proposed Transaction is subject to the formalities natural and normal to such type of transactions including receipt of prior approval of the Competition Commission of India ("CCI").

We confirm that the Proposed Transaction is very much on subject to the receipt of approval of CCI and other third parties.

For further information, please contact:

Mahasweta Sen R J Joshipara AVP & Head Corporate Communication Phone: 079-27546655 / 27549150 Mobile: +91 98362 92392

Emami Group: Nuvoco Vistas Corporation: