Incorporation of a wholly owned subsidiar - Kwality Wall''s (India) Limited This is further to our letter dated 25th November 2024, wherein the Company had intimated that, based on the recommendation of the Independent Committee, the Board had accordedits in-principle approval for demerger of Ice Cream business into an independent listed entity. Further, it had been intimated that for the purpose of the proposed demerger, the Board had also approved incorporation of a wholly owned subsidiary ('WOS') of the Company. Approval for demerger of Ice Cream business (As per BSE Announcement Dated on 22/01/2025) Receipt of Observation letter with no adverse observations/No Objection letter from Stock Exchanges on the Scheme of Demerger of Ice Cream Business. (As Per BSE Announcement Dated on 14.05.2025)