ITC Ltd — Capital/Financing Update 2023

Dec 19, 2023

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ITC Limited Virginia House 37 J. L. Nehru Road Kolkata 700 071, India Tel. : 91 33 2288 9371 Fax : 91 33 2288 4016 / 1256 / 2259 / 2260

19[th ] December, 2023

The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza Plot No. C-1, G Block Bandra-Kurla Complex Bandra (East) Mumbai 400 051

The General Manager Dept. of Corporate Services BSE Ltd. P. J. Towers Dalal Street Mumbai 400 001

The Secretary The Calcutta Stock Exchange Ltd. 7, Lyons Range Kolkata 700 001

Dear Sirs,

Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure - - Requirements) Regulations, 2015 Incorporation of a new step down subsidiary

subsidiary (‘WOS’), that they have incorporated a WOS in the Kingdom of Saudi Arabia under the name of ‘ ITC Infotech Arabia Limited ’ (‘ITC Arabia’) on 17[th] December, 2023; the registration certificate evidencing incorporation of the said subsidiary has been received by I3L today. Consequently, ITC Arabia has become a step-down wholly owned subsidiary of the Company.

SEBI Circular dated 13[th] July, 2023.

Yours faithfully, ITC Limited NIDHI Digitally signed by NIDHI BAJAJ Date: 2023.12.19 BAJAJ 21:01:56 +05'30' (N. Bajaj) Deputy Company Secretary

Encl: as above

FMCG ⚫ HOTELS ⚫ PAPERBOARDS & PACKAGING ⚫ AGRI-BUSINESS ⚫ INFORMATION TECHNOLOGY Visit us at www.itcportal.com ⚫ Corporate Identity Number : L16005WB1910PLC001985 ⚫ e-mail : enduringvalue@itc.in

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cc: Securities Exchange Commission Division of Corporate Finance Office of International Corporate Finance Mail Stop 3-9 450 Fifth Street Washington DC 20549 U.S.A. cc: Societe de la Bourse de Luxembourg 35A Boulevard Joseph II L-1840 Luxembourg

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Sl. No.	Particulars	Disclosures
1.	Name of the target entity	ITC Infotech India Limited (‘I3L’), a wholly owned subsidiary of the Company, has incorporated a wholly owned subsidiary in the Kingdom of Saudi Arabia under the name of ‘ITC Infotech Arabia Limited’ (‘ITC Arabia’) on 17thDecember, 2023. Consequently, ITC Arabia has become a step-down wholly owned subsidiary of the Company.
2.	Whether the acquisition would fall within related party transaction(s)? 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'?	ITC Arabia, being a step-down wholly owned subsidiary, is a related party of the Company. The Company does not have a promoter / promoter group. Save and except what is mentioned above, none of the group companies have any interest in ITC Arabia.
3.	Industry to which the entity being acquired belongs	Information technology services and solutions.
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)	I3L has incorporated ITC Arabia in the Kingdom of Saudi Arabia to expand and deepen its client relationships in that country.
5.	Brief details of any governmental or regulatory approvals required for the acquisition	None
6.	Indicative time period for completion of the acquisition	Not Applicable
7.	Consideration - whether cash consideration or share swap or any other form and details of the same	Cash

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Sl. No.	Particulars		Disclosures	Disclosures
8.	Cost of acquisition and/ or the price at which the shares are acquired		I3L will be paying cash consideration to ITC Arabia towards subscription of its entire share capital of 16,00,000 shares of SAR 10 each at par.
9.	Percentage of shareholding / control acquired and_/_or number of shares acquired		100% of the share capital of ITC Arabia is being held by I3L.
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)		As mentioned above, ITC Arabia is a newly incorporated company, with main object being Information technology services and solutions. Other details of ITC Arabia are provided below: Products / line of business of the entity As stated above Date of incorporation 17thDecember, 2023 Last 3 years’ turnover Not Applicable Country of operations Saudi Arabia
			Products / line of business of the entity	As stated above
			Date of incorporation	17thDecember, 2023
			Last 3 years’ turnover	Not Applicable
			Country of operations	Saudi Arabia