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Outcome of the Board Meeting held on 25th April 2024

The Company has informed BSE and NSE that the Board of Directors of the Company, at its meeting held on 25th April 2024, inter-alia, considered the following:

1. Audited Financial Results for the fifteen months financial year ended 31st March 2024:

a. approved the Audited Financial Results for the fifteen months financial year ended 31st March 2024; enclosed are the Audited Financial Results along with the Report of the Auditors thereon and the declaration in respect of Audit Reports with unmodified opinion for the fifteen months financial year ended 31st March 2024; the Audited Financial Results shall be published in newspapers as required under Listing Regulations.;

b. approved the Audited Financial Statements of the Company for the fifteen months financial year ended 31st March 2024; including Balance Sheet as on 31st March 2024 and Statement of Profit and Loss and the Cash Flow Statement for fifteen months financial year ended on that date

2. Recommended Final Dividend of Rs. 8.50/- (Eight Rupees and Fifty Paisa only) per equity shares of Re. 1/- each for the fifteen months financial year ended 31st March 2024 on the entire issued, subscribed and paid-up share capital of the Company of 964,157,160 equity shares of nominal value of Re. 1/- (Rupee one only) each.

3. Approved execution of a definitive agreement to form a joint venture between the Company and Dr. Reddy’s Laboratories Limited (“Dr. Reddy’s”) to bring together the well-known global range of nutritional health solutions as well as vitamins, minerals and health supplements of Nestlé Health Science with the nutraceuticals portfolios, strong and established commercial strengths of Dr. Reddy’s in India and other geographies as may be agreed by the Parties. The joint venture is expected to become operational in the second quarter of the financial year 2024-25, subject to customary closing conditions.

The details required under the Listing Regulations read with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 is attached herewith as Annexure-I.

4. Approved launch of Nespresso in India wherein the Company will engage in the sale and distribution of Nespresso products (machines and capsules) through its distribution network, online channels, and boutiques under commercial arrangements with Nespresso and third parties. The Company expects to launch Nespresso in India by the end of 2024.

Enclosed is the Press Release relating to the results and other business items as mentioned above.

5. Approved convening of the 65th AGM of the Company on Friday, 5th July 2024 through Video Conferencing/ Other Audio-Visual Means (VC/ OAVM) and fixed Monday, 15th July 2024 as Record Date for the purpose of determining entitlement of the Members to the Final Dividend for the fifteen months financial year ended 31st March 2024. The Final Dividend for the fifteen months financial year ended 31st March 2024, if approved by the Members at 65th AGM, shall be paid on and from 2nd August 2024. Enclosed is the intimation of the Record Date. Soft copy of the Annual Report and Notice of the 65th AGM shall be sent in due course.

PDF file of the letter submitted to Stock Exchange