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 been incorporated on 23rdJuly, 2024 by ITC Infotech India Limited (‘I3L’) as a wholly owned subsidiary. Consequently, Infotech Italy 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'?	No The Company does not have a promoter / promoter group. Infotech Italy, being a step-down subsidiary, is a group company of ITC Limited.
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)	To expand and deepen client relationships in Italy.
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.
8.	Cost of acquisition and/ or the price at which the shares are acquired	I3L has subscribed to the entire share capital of Infotech Italy of EUR 10,00,000.

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Sl. No.	Particulars		Disclosures	Disclosures
9.	Percentage of shareholding / control acquired and_/_or number of shares acquired		100% of the share capital of Infotech Italy is 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, Infotech Italy is a newly incorporated company with main object being Information technology services and solutions. Other details are provided below: Products / line of business of the entity As stated above Date of incorporation 23rdJuly, 2024 Last 3 years’ turnover Not Applicable Country of operations Italy
			Products / line of business of the entity	As stated above
			Date of incorporation	23rdJuly, 2024
			Last 3 years’ turnover	Not Applicable
			Country of operations	Italy