Varun Beverages Limited

rs,

rom those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Neither the Compa

23.3%

rights in additional 4 countries. Total Sales Volumes (mn Cases*) 2020-2025: Sales Volume CAGR: ~23.3% 1,213 1,124 374 303 913 176 802 149 653 737 821 839 569 115 454 425 88 337 2020

90%

BTL) - Market Share Gains 34+ Years of Association (agreement in India valid till April, 2039) 90%+ of PepsiCo India Sales Volume • Trademarks • Formulation through Concentrate • Product & Pa

16.3%

isciplined execution, and continued progress across our markets. Consolidated sales volumes grew by 16.3% in Q1 CY2026, driven by volume growth of 14.4% in India and 21.4% in international territories. Re

14.4%

oss our markets. Consolidated sales volumes grew by 16.3% in Q1 CY2026, driven by volume growth of 14.4% in India and 21.4% in international territories. Revenue increased by 18.1% YoY to Rs. 65,742 mill

21.4%

nsolidated sales volumes grew by 16.3% in Q1 CY2026, driven by volume growth of 14.4% in India and 21.4% in international territories. Revenue increased by 18.1% YoY to Rs. 65,742 million, and EBITDA imp

18.1%

en by volume growth of 14.4% in India and 21.4% in international territories. Revenue increased by 18.1% YoY to Rs. 65,742 million, and EBITDA improved by 21.0% YoY to Rs. 15,289 million. In India, dema

Rs. 65,742 million

growth of 14.4% in India and 21.4% in international territories. Revenue increased by 18.1% YoY to Rs. 65,742 million, and EBITDA improved by 21.0% YoY to Rs. 15,289 million. In India, demand remained encouraging du

21.0%

national territories. Revenue increased by 18.1% YoY to Rs. 65,742 million, and EBITDA improved by 21.0% YoY to Rs. 15,289 million. In India, demand remained encouraging during the quarter, supported by

Rs. 15,289 million

itories. Revenue increased by 18.1% YoY to Rs. 65,742 million, and EBITDA improved by 21.0% YoY to Rs. 15,289 million. In India, demand remained encouraging during the quarter, supported by our wide distribution rea

25%

In accordance with our dividend policy, the Board of Directors has approved an interim dividend of 25% of face value, i.e., Rs. 0.50 per share, resulting in a total cash outflow of approximately Rs. 1,

Rs. 0.50

vidend policy, the Board of Directors has approved an interim dividend of 25% of face value, i.e., Rs. 0.50 per share, resulting in a total cash outflow of approximately Rs. 1,691 million. Looking ahead, we

“The facilities commissioned over the last year have stabilized well and are expected to support growth and enhance operating efficiencies going forward.”

“13 Performance Highlights (CY2020 – CY2025) 200 217 160 132 REVENUE CAGR (2020-25) – 27.4% 88 65 n b .”

“s R 2020 2021 2022 2023 2024 2025 PAT CAGR (2020-25) – 53.7% 40.00 30.00 20.00 n b 10.00 .”

“s R - 5.5% 4 11.8% 8.5% 7 16 PAT 13.1% PAT Margins 14.1% 13.2% 26 31 21 15.0% 10.0% 5.0% 0.0% EBITDA CAGR (2020-25) – 33.3% EBITDA EBITDA Margins (%) 60.00 50.00 40.00 30.00 20.00 n b 10.00 .”

“s - R 18.6% 18.8% 21.2% 22.5% 23.5% 23.3% 12 17 28 36 47 50 2020 2021 2022 2023 2024 2025 Net Worth Net D/E 197 167 NET WORTH CAGR (2020-25) – 40.6% 250.00 200.00 150.00 100.00 n b 50.00 .”

Brands licensed by PepsiCo

1

Brands licensed by PepsiCo

Own Brands^: Carbonated Soft Drinks Club Soda Carbonated Soft Drinks Fruit Pulp / Juice Based Drinks Mixers Energy Drink Energy Drink Sports Drink Carbonated Juice Based Drinks Ice Tea Packaged Water Packaged Water Snacks# Dairy Based Beverages* # Manufacturing & Distribution of PepsiCo’s snack foods in Morocco and Zimbabwe and distribution in Zambia; Co-manufacturing of Kurkure Puffcorn in India. ^ Manufacturing & Distribution of own brands is restricted in select territories. * “CreamBell” trademark has been licensed to be used by VBL for ambient temperature value added dairy based beverages. 5 Symbiotic Relationship with PepsiCo Demand Delivery Demand Creation • Production Facilities • Sales & Distribution – GTM & Logistics • In-outlet Management – Visi-Coolers • Consumer Push Management (BTL) - Market Share Gains 34+ Years of Association (agreement in India valid till April, 2039) 90%+ of PepsiCo India Sales Volume • Trademarks • Formulation through Concentrate • Product & Packagin