NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

FOR IMMEDIATE RELEASE

30 January 2024

RECOMMENDED INCREASED AND FINAL CASH OFFER FOR

DP EURASIA N.V.

by

JUBILANT FOODWORKS NETHERLANDS B.V.

a wholly owned subsidiary of Jubilant FoodWorks Limited

Acceptance Level Update and Cancellation of Listing and Admission to Trading

On 28 November 2023, the board of Jubilant Foodworks Netherlands B.V. ("Jubilant Foodworks") (a wholly owned subsidiary of Jubilant FoodWorks Limited) announced its intention to launch an offer for the entire issued and outstanding share capital of DP Eurasia N.V. ("DP Eurasia") not already owned by Jubilant Foodworks at 85 pence per DP Eurasia Share (the "Original Offer "). The Original Offer was increased to 95 pence per DP Eurasia Share on 19 December 2023.

On 16 January 2024, the Independent DP Eurasia Directors and Jubilant Foodworks announced that they had reached an agreement on the terms of a recommended increased and final cash offer to be made by Jubilant Foodworks for the entire issued and outstanding share capital of DP Eurasia not already owned by Jubilant Foodworks at a price of 110 pence per DP Eurasia Share (the "Increased Offer"). The offer document setting out the terms of the Increased Offer was published on 17 January 2024 (the "Increased Offer Document"). The Increased Offer amends the Original Offer, and the Increased Offer Price will be received in respect of any DP Eurasia Shares in relation to which the Original Offer has been previously accepted as well as all DP Eurasia Shares in respect of which the Increased Offer is accepted.

Acceptance Level Update

Jubilant Foodworks announces that it has (by virtue of its shareholdings and acceptances of the Increased Offer, including all previous acceptances of the Original Offer), acquired, or agreed to acquire, DP Eurasia Shares representing more than 75 per cent. of the voting rights in DP Eurasia and the 20 business day notice period for the cancellation of the listing and admission to trading of DP Eurasia Shares has commenced.

As at 11:00am on 30 January 2024, Jubilant Foodworks had received valid acceptances of the Increased Offer in respect of a total of 28,831,089 DP Eurasia Shares (representing approximately 19.7 per cent. of DP Eurasia's issued and outstanding share capital as at 11:00am on 30 January 2024, being the latest practicable date prior to the publication of this announcement (the "Latest Practicable Date").

Together with the DP Eurasia Shares that it already holds (representing approximately 56.1 per cent. of DP Eurasia's issued and outstanding share capital on the Latest Practicable Date), Jubilant Foodworks holds or has received acceptances in respect of 75.8 per cent. of DP Eurasia Shares.

Cancellation of listing and admission to trading

Accordingly, the listing of DP Eurasia Shares on the premium listing segment of the Official List and the trading of DP Eurasia Shares on the London Stock Exchange's Main Market is to be cancelled. The cancellation of listing and trading of DP Eurasia Shares will take effect on or shortly after 8.00 a.m. (London time) on 27 February 2024. Jubilant Foodworks then intends to convert DP Eurasia into a Dutch private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) and to ultimately acquire 100% of the DP Eurasia Shares and/or the business and operations of DP Eurasia.

The delisting of the DP Eurasia Shares and the conversion of DP Eurasia into a Dutch private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) will significantly reduce the liquidity and marketability of any DP Eurasia Shares in respect of which the Increased Offer has not been accepted and their value may be affected as a consequence. Any remaining DP Eurasia Shareholders will, in this case, become minority shareholders in a majority controlled private company with limited liability and may therefore be unable to sell their DP Eurasia Shares.

Following the delisting of the DP Eurasia Shares and in addition to the conversion of DP Eurasia into a Dutch private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid), Jubilant Foodworks intends to seek to effect or cause to effect a restructuring of DP Eurasia for the purpose of achieving an optimal operational, legal, financial or fiscal structure, subject to and in accordance with applicable laws, some of which may have the effect of diluting the shareholding of minority DP Eurasia Shareholders ("Other Restructuring Measures"). It should be noted by DP Eurasia Shareholders that are yet to accept the Increased Offer that any applicable withholding taxes, including a 15 per cent. Dutch dividend withholding tax, imposed on DP Eurasia Shareholders in respect of any Liquidation distribution following a Post-Offer Asset Sale, or pursuant to any Other Restructuring Measure may be significantly greater than the taxes that would be imposed upon such DP Eurasia Shareholders had their DP Eurasia Shares been accepted pursuant to the Increased Offer. Further information on this, the Other Restructuring Measures and the associated risks for DP Eurasia Shareholders are set out in the Increased Offer Document.

DP Eurasia Shareholders that have not accepted the Increased Offer are therefore urged to accept without delay. The Closing Date for accepting the Increased Offer is 1.00 p.m. on 31 January 2024.

Further details on how to accept the Increased Offer are set out in the Increased Offer Document. The Increased Offer Document is available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on Jubilant Foodworks Limited's website at https://www.jubilantfoodworks.com/.

Unless otherwise stated, defined terms used by not defined in this announcement shall have the meanings set out in the Increased Offer Document.

Enquiries:

About Jubilant Foodworks

Jubilant FoodWorks Limited (NSE, BSE: JUBLFOOD), Jubilant Foodworks' parent company, is India's largest foodservice company and is part of the Jubilant Bhartia Group. Incorporated in 1995, the company holds the exclusive master franchise rights from Domino's Pizza Inc. to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal. In India, it has a strong and extensive network of 1,888 Domino's stores across 397 cities. In Sri Lanka and Bangladesh, the company operates through its 100% owned subsidiary which currently has 50 and 23 stores respectively. The company also has exclusive rights to develop and operate Popeyes restaurants in India, Bangladesh, Nepal and Bhutan and Dunkin' restaurants in India. The company currently operates 22 Popeyes restaurants in six cities and 21 Dunkin' restaurants across seven cities.

In 2019, Jubilant FoodWorks Limited launched its first owned-restaurant brand 'Hong's Kitchen' in the Chinese cuisine segment which now has 18 restaurants across three cities. All store counts referred to in this paragraph are as at 30 September 2023.

Important Notices

This announcement is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Increased Offer or otherwise, nor shall there be any sale, issuance or transfer of securities of DP Eurasia in any jurisdiction in contravention of applicable law.

The Increased Offer is made solely by means of the Increased Offer Document and, in respect of DP Eurasia Shares held in registered form, any deed of transfer, which contains the full terms of the Increased Offer including details of how to accept the Increased Offer. Details on how to accept the Increased Offer in respect of DP Eurasia Shares held as Depositary Interests held in CREST are set out in full in the Increased Offer Document. Any approval, acceptance, decision or other response to the Increased Offer should be made only on the basis of the information in the Increased Offer Document. DP Eurasia Shareholders are strongly advised to read the formal documentation in relation to the Increased Offer.

Peel Hunt, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Jubilant Foodworks and for no-one else in connection with the matters referred to in this announcement and will not be responsible to any person other than Jubilant Foodworks for providing the protections afforded to clients of Peel Hunt, nor for providing advice in relation to the matters referred to herein. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with the matters referred to in this announcement, or otherwise.

Liberum Capital Limited ("Liberum"), which is authorised and regulated in the United Kingdom by the FCA, is acting as financial adviser exclusively for DP Eurasia and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than DP Eurasia for providing the protections afforded to clients of Liberum, nor for providing advice in relation to the contents of this announcement or any other matter referred to herein. Neither Liberum nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Liberum in connection with this announcement, any statement contained herein or otherwise. Neither Liberum nor any of its affiliates nor any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to, the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to DP Eurasia.

Overseas Shareholders

This announcement has been prepared in accordance with English law and the information disclosed may not be the same as that which would have been disclosed in accordance with the laws and regulations of jurisdictions outside England. The statements contained in this announcement are made as at the date of this announcement, unless some other time is specified in relation to them, and there shall be no implication that there has been no change in the facts set forth in this announcement since such date.

The release, publication or distribution of this announcement and the availability of the Increased Offer in or into jurisdictions other than the United Kingdom may be affected by the laws and regulations of those jurisdictions. Persons who are not resident in the United Kingdom, or who are subject to the laws of any jurisdiction other than the United Kingdom, should inform themselves about, and observe any applicable requirements. Any person (including, without limitation, nominees, trustees and custodians) who would, or otherwise intends to, forward this announcement or any accompanying document to any jurisdiction outside the United Kingdom should refrain from doing so and seek appropriate professional advice before taking any action. Any failure to comply with the applicable legal or regulatory requirements may constitute a violation of the laws and/or regulations of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Increased Offer disclaim any responsibility and liability for the violation of such restrictions by any person.

Unless otherwise determined by Jubilant Foodworks, and permitted by applicable law and regulation, the Increased Offer is not being made, directly or indirectly, in or into or by use of the mails or any other means or instrumentality (including, without limitation, telephonic or electronic) of interstate or foreign commerce of, or any facility of a national, state or other securities exchange of, a Restricted Jurisdiction, and no person may accept the Increased Offer by any such use, means, instrumentality or facility or from within a Restricted Jurisdiction. Accordingly, copies of this announcement and any related documents are not being, and must not be, directly or indirectly, mailed or otherwise forwarded or distributed in, into or from a Restricted Jurisdiction and persons receiving this announcement or any related document (including custodians, nominees and trustees) must not distribute or send them in, into or from a Restricted Jurisdiction. Doing so may invalidate any purported acceptance of the Increased Offer.

Notice to US shareholders

The Increased Offer is being made for securities of a public limited liability company (naamloze vennootschap) incorporated under the laws of The Netherlands, with its corporate seat in Amsterdam, The Netherlands and is being made in the United States in compliance with all applicable laws and regulations, including, to the extent applicable Section 14(e) of the US Securities Exchange Act of 1934, as amended (the "US Exchange Act"), and Regulation 14E thereunder (in each case, subject to any exemptions or relief therefrom, if applicable) and otherwise in accordance with the disclosure and procedural requirements of United Kingdom and Dutch law. US Shareholders should read the entire Increased Offer Document, which contains important information about the Increased Offer and the DP Eurasia Shares. The Increased Offer is being made in the United States by Jubilant Foodworks and no one else. Shareholders in the United States are advised that the Shares are not listed on a US securities exchange and that DP Eurasia is not subject to the periodic reporting requirements of the US Exchange Act and is not required to, and does not, file any reports with the US Securities and Exchange Commission (the "SEC") thereunder. Neither the SEC nor any securities commission of any state of the United States has approved the Increased Offer, passed upon the fairness of the Increased Offer or passed upon the adequacy or accuracy of this announcement. Any representation to the contrary is a criminal offence in the United States.

In accordance with normal United Kingdom market practice and to the extent permissible under applicable law or regulatory requirements, including Rule 14e-5 under the US Exchange Act, Jubilant Foodworks and its affiliates or its brokers and its broker's affiliates (acting as agents for Jubilant Foodworks or its affiliates, as applicable) may from time to time whilst the Increased Offer remains open for acceptances make certain purchases of, or arrangements to purchase, DP Eurasia Shares outside the United States otherwise than under the Increased Offer, such as in the open market or through privately negotiated purchases. Such purchases, or arrangements to purchase, shall comply with applicable rules in the United Kingdom and the rules of the London Stock Exchange. Details about any such purchases will be available from any Regulatory Information Service, including the regulatory news service on the London Stock Exchange website (www.londonstockexchange.com).

The receipt of cash pursuant to the Increased Offer by a US holder of DP Eurasia Shares may be a taxable transaction for US federal income tax purposes and under applicable US state and local, as well as foreign and other, tax laws. Each holder of DP Eurasia Shares is urged to consult its independent professional adviser immediately regarding the tax consequences of accepting the Increased Offer.

Jubilant Foodworks Netherlands B.V. is a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands, with its corporate seat in Amsterdam, The Netherlands. It is a wholly owned subsidiary of Jubilant Foodworks Limited. Some or all of the officers and directors of Jubilant Foodworks and DP Eurasia, respectively, are residents of countries other than the United States. In addition, most of the assets of Jubilant Foodworks and DP Eurasia are located outside the United States. As a result, it may be difficult for US shareholders of DP Eurasia to sue, or effect service of process within the United States upon, Jubilant Foodworks, DP Eurasia, or their respective officers or directors. Further, it may be difficult to compel a non-US entity and its affiliates to subject themselves to a US court's judgment or to enforce against them a judgment of a US court predicated upon the federal or state securities laws of the United States.

Cautionary note regarding forward looking statements

This announcement contains certain statements which are, or may be deemed to be, "forward-looking statements" which are prospective in nature. The words "believe", "anticipate", "expect", "intend", "aim", "plan", "predict", "continue", "assume", "positioned", "may", "will", "should", "shall", "risk" and other similar expressions that are predictions of or indicate future events and future trends identify forward-looking statements. These forward-looking statements include all matters that are not current or historical facts. By their nature, forward-looking statements involve risks and uncertainties because such statements relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not indicative of future performance and Jubilant Foodworks' or DP Eurasia's actual results of operations, financial condition and liquidity, and the development of the industry in which Jubilant Foodworks or DP Eurasia sources operates, may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Jubilant Foodworks, DP Eurasia, or persons acting on the behalf of either of them, may issue.

No profit forecasts or estimates

Nothing in this announcement is intended or shall be deemed to be a forecast, projection or estimate of the future financial performance of Jubilant Foodworks or DP Eurasia and no statement in this announcement should be interpreted to mean that earnings or earnings per share of Jubilant Foodworks or DP Eurasia (where relevant) for the current or future financial years would necessarily match or exceed the historical published earnings or earnings per share for Jubilant Foodworks or DP Eurasia, as appropriate.

Publication on website

This announcement will be published on (i) Jubilant FoodWorks Limited's website and will be available at https://www.jubilantfoodworks.com/ and (ii) DP Eurasia's website and will be available at https://dpeurasia.com/ as soon as practicable following the publication of this announcement. The content of those websites is not incorporated into, and does not form part of, this announcement.

Market Abuse Regulation

The information contained within this announcement would have, prior to its release, constituted inside information as stipulated under Article 7 of the Market Abuse Regulation (EU) No.596/2014 as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (together, "UK MAR"). Upon the publication of this announcement via a regulatory information service, this inside information will be considered to be in the public domain.