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Postal Ballot Notice

The Company has informed BSE and NSE that in furtherance to our letter PKR:SG: 28:24 dated 5th April 2024, informing that the Company will be seeking consent of the members through Postal Ballot by way of electronic voting (“remote e-Voting”) for: i) the appointment of Ms Suneeta Reddy (DIN: 00001873), as an Additional Director and Independent Non-Executive Director of the Company w.e.f. 5th April 2024 for a term of five (5) consecutive years i.e. upto 4th April 2029; and ii) the payment of general licence fees (royalty) by the Company to Société des Produits Nestlé S.A. (Licensor), at the rate not exceeding 5.25%, net of taxes, of the net sales of the products sold by the Company as per the terms and conditions of the existing General Licence Agreements, payable in a staggered manner over the period of five years by making an increase of 0.15% per annum over the current general licence fees (royalty) of 4.5% per annum w.e.f. 1st July 2024.

In this regard, please find enclosed the Postal Ballot Notice (“Notice”) together with the explanatory statement. In conformity with the applicable regulatory requirements, the Notice is being sent only through electronic mode to those members whose names appear on the Register of Members/ List of Beneficial Owners and whose e-mail address is registered with the Company/ Depository Participant(s) as on Friday, 12th April 2024 (“Cut-off date”). The copy of the Notice is being uploaded on the website of the Company at www.nestle.in and National Securities Depository Limited (“NSDL”) at www.evoting.nsdl.com.

The Company has engaged the services of NSDL for providing remote e-voting facility to the members of the Company. The remote e-Voting period commences at 9:00 A.M. (IST) on Thursday, 18th April 2024 and concludes at 5:00 P.M. (IST) on Friday, 17th May 2024. Please note that communication of assent or dissent of the members would only take place through the remote e-Voting facility. The instructions for remote e-Voting are provided in the Notice. The Result of remote e-Voting shall be declared by Monday, 20th May 2024.

Nestle India – Postal Ballot Notice