UPL Limited has entered into a Joint Venture agreement on 23 May 2024 with Aarti Industries Limited for manufacturing and marketing of specialty chemicals that has applications in multiple downstream industries. Name of the target entity, details in brief such as size, turnover, history of last 3 years turnover, etc.: Augene Chemical Private Limited (ACPL) - proposed entity for 50:50 Joint Venture between the Company and Aarti Industries Limited. Turnover ­ Not applicable.

ACPL was incorporated on 18 May 2023, but had not undertaken any activities/business. Business/Industry - Sale, distribution and/or marketing of specialty chemicals including any other activities undertaken in relation thereto. The investment by UPL Limited in ACPL will not amount to related party transaction.

Promoters/promoter groups of UPL Limited do not have any personal interest in ACPL. The proposed Joint Venture between UPL Limited and Aarti Industries Limited is for sale and marketing of specialty chemicals having diverse downstream applications in agrochemical and paint industry. The arrangement will combine the strength of Aarti Industries Limited and UPL Limited supplying key raw materials for manufacturing of specialty chemicals.

Indicative time period for completion of the acquisition (JV): In approx. next 60 days from signing of the agreements. Nature of consideration - whether cash consideration or share swap and details of the same.

Cost of acquisition or the price at which the shares are acquired. (size of entity): UPL Limited and Aarti Industries Limited propose to initially invest INR 125 million each, in equity share capital of ACPL. Subsequently, over a period of about 24 months, it is proposed to invest INR 1,375 million each in one or more tranches in the form of equity capital/preference share capital/debt.

Percentage of shareholding /control acquired and /or number of shares acquired (JV ratio if any): Post subscription by both UPL Limited and Aarti Industries Limited, their respective shareholding in ACPL will be 50%:50%. Country in which the acquired entity has presence and any other significant information (domestic/international): Currently, presence is in India only.