Indo Count Industries Ltd — M&A Activity 2024

Apr 19, 2024

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April 19, 2024

The National Stock Exchange of India Ltd. Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051

BSE Limited Department of Corporate Services Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

Company Symbol : ICIL Scrip Code No. : 521016

Subject: Press Release - Indo Count Acquires US Premium National Brand ‘WAMSUTTA’

Ref.: Acquisition of Brand ‘WAMSUTTA’ by Indo Count Global Inc., USA, a wholly owned subsidiary of Indo Count Industries Limited

Please find enclosed herewith a copy of Press Release dated April 19, 2024 titled “Indo Count Acquires US Premium National Brand ‘WAMSUTTA’.”

Kindly take the above on record.

Thanking you,

Yours faithfully,

For Indo Count Industries Limited

SATNAM Digitally signed by SATNAM SINGH SAINI SINGH SAINI Date: 2024.04.19 07:36:47 +05'30' Satnam Saini Company Secretary & GM Legal

Encl.: A/a

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Indo Count Acquires US Premium National Brand WAMSUTTA

WAMSUTTA to elevate Indo Count’s brand portfolio and to have material impact on goforward business

Mumbai, April 19, 2024 – Indo Count, the largest global bed linen manufacturer and exporter from India, announces its strategic acquisition of the international home fashions brand WAMSUTTA from Beyond, Inc. (NYSE: BYON). Wamsutta – an industry-leading home fashions brand – has delighted generations of consumers with luxurious bed, bath and other home fashion products. This acquisition, which closed on April 18, 2024, strengthens Indo Count’s brand portfolio, and elevates its position in the premium market segment.

Renowned for its exceptional quality and a brand legacy dating back to 1846, WAMSUTTA is poised for substantial growth under Indo Count's leadership.

Mohit Jain, Executive Vice Chairman of Indo Count , expressed his enthusiasm about the acquisition, stating, "Wamsutta – with its 178-year brand heritage – resonates strongly in the marketplace. We will explore multiple channels of distribution to reach the core Wamsutta consumer and also introduce an entire new generation to the exceptional quality and luxury of the Wamsutta brand.”

“Our strategic vision is to leverage our operational capabilities to enhance the brand value proposition and fulfill its potential globally. WAMSUTTA’s brand equity, combined with Indo Count's global reach will catapult the brand to new heights and represents a significant milestone towards our expansion strategy." Mr. Jain added.

About Indo Count Industries Limited

Indo Count Industries Ltd (ICIL) is the largest global home textile bed linen manufacturer. Mr. Anil Kumar Jain, Founder & Executive Chairman, has been ranked 10[th] amongst India’s Best Top 100 CEO’s 2017 by Business Today. Under his leadership, the company has focused on some of the world’s finest fashion, institutional and utility bedding & sheets and has built significant presence across the globe.

Over the years, the company has successfully carved out a niche for itself and has become a total bedding resource. The company’s current annual capacity is 153 million metres.

ICRA’s credit rating for the company is ICRA AA- (Double A minus; Outlook Stable) for its Long-Term Bank Facilities and ICRA A1+ (A One plus) for its Short-Term Bank Facilities.

CARE Ratings credit rating for the company is CARE AA- (Double A minus; Outlook: Stable) for its LongTerm Bank Facilities and CARE A1+ (A One plus) for its Short-Term Bank Facilities.

About Beyond, Inc.

Beyond, Inc. (NYSE: BYON), based in Midvale, Utah, is an ecommerce expert with a singular focus: connecting consumers with products and services that unlock their homes’ potential. The company owns Overstock.com, Bed Bath & Beyond, Baby & Beyond, Zulily, Kids & Beyond, Backyard.com, College Living, and other related brands and associated intellectual property. Its suite of online shopping brands features millions of products for various life stages that millions of customers visit each month. Beyond regularly posts information about the company and other related matters on the Newsroom and Investor Relations pages on its website, Beyond.com.

Beyond, Bed Bath & Beyond, Baby & Beyond, Welcome Rewards, Zulily, and Overstock.com are trademarks of Beyond, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.