The Board of Varun Beverages at its meeting held on 15 July 2024 has approved to enter into following exclusive agreements:

(i) Varun Foods (Zimbabwe) (wholly-owned subsidiary of the Company) and Premier Nutrition Trading LLC, Dubai (subsidiary of PepsiCo Inc.) to manufacture, distribute & sell snacks “Simba Munchiez” in the territory of Zimbabwe on or before 01 October 2025 (i.e. the expected date of start of commercial production from company's own manufacturing facility).

(ii) Varun Beverages (Zambia) (subsidiary of the Company) and Premier Nutrition Trading LLC, Dubai (subsidiary of PepsiCo Inc.) to manufacture, distribute & sell snacks “Simba Munchiez” in the territory of Zambia on or before 01 April  2026 (i.e. the expected date of start of commercial production from company's own manufacturing facility).