Varun Beverages Limited — M&A Activity 2026

Mar 17, 2026

March 17, 2026

To,

National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Block G, C/1, Bandra Kurla Phiroze Jeejeebhoy Towers Complex, Bandra (E), Mumbai – 400 051 Dalal Street, Mumbai – 400 001 Email: cmlist@nse.co.in Email: corp.relations@bseindia.com Symbol: VBL Security Code: 540180

Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir / Madam,

We would like to inform you that The Beverage Company Proprietary Limited (“Bevco”), subsidiary of Varun Beverages Limited, has executed an Agreement dated March 17, 2026 at 1:53 PM India time for acquisition of 100% equity stake of Crickley Dairy Proprietary Limited (“Crickley”) (incorporated in South Africa), subject to regulatory and other approvals (if any) including but not limited to Competition Commissions of South Africa.

The detailed disclosure as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure-I.

The same is being uploaded on website of the Company at www.varunbeverages.com.

You are requested to take the above on record.

Yours faithfully,

For Varun Beverages Limited Digitally signed by Ravi Ravi Batra Batra Date: 2026.03.17 17:36:20 +05'30' Ravi Batra Chief Risk Officer & Group Company Secretary

Encl.: As above

Annexure - I

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

S. No.	Particulars	Disclosure
1.	Name(s) of parties with whom the agreement is entered	The Beverage Company Proprietary Limited (“Bevco”), subsidiary of the Company in South Africa, Clark Holdings Proprietary Limited(“Seller”) and Crickley Dairy Proprietary Limited (“Crickley/Company”)
2.	Purpose of entering into the agreement	Acquisition of 100% equity stake of Crickley by Bevco, inline with the Company’s strategy to diversify its product portfolio into new categories viz. value-added dairy and juice based drinks.
3.	Shareholding (existing), if any, in the entity with whom the agreement is executed	Nil
4.	Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.	Bevco will acquire 100% equity stake of Crickley for an Enterprise Value of ZAR 238 million (INR 1,314.68 mn; 1 ZAR = 5.52 INR), subject to regulatory and other approvals (if any) including but not limited to Competition Commissions of South Africa.
5.	Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	Bevco is a subsidiary of the Company and Clark Holdings Proprietary Limited and Crickley are not related to promoter/promoter group/group companies in any manner.
6.	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”	No
7.	In case of issuance of shares to the parties, details of issue price, class of shares issued	NotApplicable

	8.	Any other disclosures related to	None
		such agreements, viz., details of
		nominee on the board of
		directors of the listed entity,
		potential conflict of interest
		arising out of such agreements,
		etc.
	9.	In case of termination or	Not Applicable
		amendment of agreement, listed
		entity shall disclose additional
		details to the stock exchange(s):
		a) name of parties to the
		agreement;
		b) nature of the agreement;
		c) date of execution of the
		agreement;
		d) details of amendment and
		impact thereof or reasons of
		termination and impact thereof.