Voltas Ltd. — Capital/Financing Update 2023

Apr 26, 2023

26[th] April, 2023

BSE Limited cc: National Stock Exchange of India Limited Department of Corporate Services Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra-Kurla Complex Mumbai 400 001 Bandra (East), Mumbai 400 051 Scrip Code: 500575 NSE Symbol: VOLTAS

Dear Sir,

Sub: Joint Venture with Highly International (Hong Kong) Limited

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We take reference to our letter dated 16[th] March, 2022 and 2[nd] May, 2022 informing about the execution of a Joint Venture Agreement with Highly International (Hong Kong) Limited, a wholly-owned subsidiary of Shanghai Highly (Group) Company Limited to engage in the business of inverter compressors for room air-conditioners, on such terms and conditions as may be mutually agreed between the parties. The Joint Venture was subject to fulfillment / satisfaction of certain conditions precedent to ‘Closing’ of the transaction and obtaining necessary approvals, including under Press Note No.3 (2020 series) dated 17[th] April, 2020 issued by the Ministry of Commerce, Department for Promotion of Industry and Internal Trade. As the Regulatory approvals were not forthcoming, both the parties have mutually decided to terminate the Joint Venture Agreement.

1. The above is for your information and in compliance with the requirements of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you,

Yours faithfully, VOLTAS LIMITED

VARUN Digitally signed by VARUN PRAKASH PRAKASH MALHOTRA MALHOTRA Date: 2023.04.26 18:39:57 +05'30'

V. P. Malhotra Head - Taxation, Legal & Company Secretary