ITC Ltd — Capital/Financing Update 2024

Jul 24, 2024

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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

24[th] July, 2024

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,

- Incorporation of a new step down subsidiary

‘ ITC Infotech Italia s.r.l. ’ (‘Infotech Italy’) on 23[rd] July, 2024; the registration certificate evidencing incorporation of the said subsidiary has been received by I3L today. Consequently, Infotech Italy has become a step-down wholly owned subsidiary of the Company.

SEBI Circular dated 13[th] July, 2023.

Yours faithfully, ITC Limited

RAJENDRA Digitally signed by RAJENDRA KUMAR KUMAR SINGHI Date: 2024.07.24 SINGHI 19:52:43 +05'30' (R. K. Singhi) Executive Vice President & 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 Italia s.r.l.’ (‘Infotech Italy’) has beenincorporated on 23rdJuly, 2024 by ITC InfotechIndia Limited (‘I3L’) as a wholly owned subsidiary.Consequently, Infotech Italy has become astep-down wholly owned subsidiary of theCompany.
2.	Whether the acquisition would fallwithin related party transaction(s)?Whether the promoter**_/promoter**group**/_group companies have any**interestintheentitybeingacquired? If yes, nature of interestand details thereof and whether thesame is done at 'arm's length'?	NoThe Company does not have a promoter / promotergroup. Infotech Italy, being a step-down subsidiary,is a group company of ITC Limited.
3.	Industry to which the entity beingacquired belongs	Information technology services and solutions.
4.	Objects and impact of acquisition(including but not limited to,disclosureofreasonsforacquisition of target entity, if itsbusiness is outside the main line ofbusiness of the listed entity)	To expand and deepen client relationships in Italy.
5.	Brief details of any governmentalor regulatory approvals requiredfor the acquisition	None.
6.	Indicativetimeperiodforcompletion of the acquisition	Not Applicable.
7.	Consideration-whethercashconsideration or share swap or anyother form and details of the same	Cash.
8.	Cost of acquisition and**/ or the**price at which the shares areacquired	I3L has subscribed to the entire share capital ofInfotech Italy of EUR 10,00,000.

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Sl.No.	Particulars		Disclosures	Disclosures
9.	Percentageofshareholding/control acquired and**_/_or number of**shares acquired		100% of the share capital of Infotech Italy is held byI3L.
10.	Brief background about the entityacquired in terms of products**_/_line**of business acquired, date ofincorporation, history of last 3years turnover, country in whichthe acquired entity has presenceandanyothersignificantinformation (in brief)		As mentioned above, Infotech Italy is a newlyincorporated company with main object beingInformation technology services and solutions.Other details are provided below:Products/lineofbusiness of the entityAs stated aboveDate of incorporation23rdJuly, 2024Last 3 years’ turnoverNot ApplicableCountry of operationsItaly
			Products/lineofbusiness of the entity	As stated above
			Date of incorporation	23rdJuly, 2024
			Last 3 years’ turnover	Not Applicable
			Country of operations	Italy