United Spirits Updates RCB Stake Sale: Rs. 16,660 Cr Deal Intact, New Buyers Added to Consortium

United Spirits Limited has executed an amended and restated share purchase agreement (A&R SPA) dated May 11, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The development is a follow-up to the original share purchase agreement (SPA) dated March 24, 2026. Notably, the regulatory filing was re-uploaded with a corrected date after the date was inadvertently mentioned as January 11, 2026 in an earlier submission — all other disclosures remain unchanged. The A&R SPA was executed following the receipt and acceptance of a purchaser change notice dated May 4, 2026, and has been entered into in accordance with the terms of the original SPA. The aggregate consideration of INR 166.6 bn (approximately Rs. 16,660 Cr) and all fundamental commercial terms remain unchanged.

Change in Purchaser Composition

The A&R SPA introduces structural changes to the consortium of purchasers involved in the acquisition of equity shares of Royal Challengers Sports Private Limited (RCSPL), a wholly owned subsidiary of United Spirits Limited. Three new entities have been added as Additional Purchasers, while two original purchasers have retired from the transaction.

Role Entity Additional Purchaser (New): Big Banyan Holdings Pte. Ltd Additional Purchaser (New): Times Cricket LLP Additional Purchaser (New): ICQ Opportunities RC Holdco, Ltd (ICONIQ) Retiring Purchaser: Aelius Investments Pte Ltd (Purchaser 2) Retiring Purchaser: Metropolitan Media Company Limited (Purchaser 5)

The rights and obligations of the retiring purchasers under the original SPA have been assumed by the relevant continuing and additional purchasers. The change in purchasers reflects only a reorganisation of the legal entities through which the consortium is entering into the relevant transaction documents.

Key Transaction Details Remain Unchanged

Despite the change in purchaser composition, the fundamental parameters of the transaction remain unaltered. The following table summarises the key terms of the A&R SPA:

Parameter: Details Agreement Type: Amended and Restated Share Purchase Agreement Date of Execution: May 11, 2026 Seller: United Spirits Limited (USL) Entity Being Sold: Royal Challengers Sports Private Limited (RCSPL) Sale Shares: 14,690 equity shares of RCSPL Aggregate Consideration: INR 166.6 bn Relationship of RCSPL to USL: Wholly owned subsidiary Board Approval Date: March 24, 2026

Parties to the A&R SPA

The amended and restated agreement has been executed among the following parties:

# Party 1. United Spirits Limited (USL) 2. Royal Challengers Sports Private Limited (RCSPL) 3. Bolt IPL Holdings LLC 4. Big Banyan Holdings Pte. Ltd 5. Asia Investment Topco II Pte. Ltd 6. Times Internet Limited 7. Times Cricket LLP 8. ICQ Opportunities RC Holdco, Ltd (ICONIQ)

Regulatory Disclosures and Related Party Position

The A&R SPA and related transaction documents were executed pursuant to the initial approval granted by the Board of Directors of United Spirits Limited at its meeting held on March 24, 2026. As disclosed in Annexure A filed with the stock exchanges, RCSPL, being a wholly owned subsidiary of USL, is classified as a related party. However, none of the purchasers are related parties of USL or RCSPL, and the transaction does not fall within the ambit of related party transactions. The amendments do not alter the aggregate consideration, the fundamental commercial structure, or the other customary provisions, representations, warranties, and indemnities under the original SPA. The disclosure has been made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026, issued on July 11, 2023, and last updated on January 30, 2026. The Company Secretary and Compliance Officer, Pragya Kaul, signed the disclosure on May 11, 2026, and further details are available on the company's website at www.diageoindia.com .

United Spirits has issued a revised intimation to the stock exchanges, updating the webcast link for its FY26 investor/analyst conference call. The revision, communicated on May 11, 2026, supersedes the earlier intimation dated May 4, 2026, and was necessitated due to certain technical reasons. The updated details have also been made available on the company's website at www.diageoindia.com .

FY26 Results Presentation and Investor Meeting

The conference call is scheduled for Friday, May 15, 2026, at 4:00 PM IST. The event will include a results presentation and annual investor meeting conducted via webcast. The session will feature presentations by Mr. Praveen Someshwar, Managing Director and Chief Executive Officer, and Mr. Pradeep Jain, Executive Director and Chief Financial Officer, discussing the company's audited financial results for the quarter and year ended March 31, 2026. The presentation will be followed by a live Q&A session, during which participants may queue up for questions either via the webcast or the phone audio line.

Conference Joining Details

Participants have two options to join the conference call. The webcast option allows attendees to view the presentation and listen to the audio, while the dial-in option provides a listen-only audio experience. The company has advised participants to avoid joining simultaneously over both mediums to prevent audio quality issues.

The following table summarises the key joining information:

Parameter: Details Date: Friday, May 15, 2026 Time: 4:00 PM IST Webcast Link: https://choruscallevents.com/UnitedSpiritsLtdQ4FY26EarningsConferenceCall Express Join (DiamondPass™): https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber=2493294&linkSecurityString=146281c97a Universal Dial-in (India): +91 22 6280 1250 / +91 22 7115 8151

Participants joining via webcast are advised to connect at least 15 minutes prior to the scheduled start time, while those using dial-in numbers are requested to connect 10 minutes in advance.

International Dial-In Access

For international participants, toll-free dial-in numbers have been provided across multiple countries. The details are as follows:

Country: Toll-Free Number Argentina 0080014243444 Australia 0080014243444 Belgium 0080014243444 Canada 01180014243444 China 4008428405 France 0800914745 Germany 0080014243444 Hong Kong 800964448 Italy 0080014243444 Japan 00531161110 Netherlands 08000229808 Poland 008001124248 Singapore 8001012045 South Korea 00180014243444 Sweden 0080014243444 Thailand 00180014243444 UK 08081011573 USA 18667462133

The revised intimation was signed by Pragya Kaul, Company Secretary and Compliance Officer, in compliance with Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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