ADIA TO INVEST ₹ 4,966.80 CRORE IN RELIANCE RETAIL VENTURES LIMITED AT AN EQUITY VALUE OF ₹ 8.381 LAKH CRORE

TRANSACTION DEMONSTRATES SUPPORT OF RELIANCE RETAIL’S INCLUSIVE AND  TRANSFORMATIONAL BUSINESS MODEL

Reliance Retail Ventures Limited (“RRVL”) announced today that a wholly owned subsidiary of the Abu  Dhabi Investment Authority (“ADIA”) will invest ₹ 4,966.80 crore into RRVL, a subsidiary of Reliance  Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.381 lakh crore, which  makes it among the top four companies by equity value in the country. This investment by ADIA will  translate into an equity stake of 0.59% in RRVL on a fully-diluted basis.

RRVL, through its subsidiaries and associates, operates India’s largest, fastest growing, and most profitable  retail business serving 267 million loyalty customers with an integrated omni- channel network  of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion &  lifestyle, and pharma consumption baskets. 

RRVL’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of  customers, empowering micro, small and medium enterprises (MSMEs) and working closely with global  and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while  protecting and generating employment for millions of Indians. RRVL, through its New Commerce business,  has digitized more than 3 million small and unorganised merchants. This will enable these merchants to use  technology tools and an efficient supply chain infrastructure to deliver a superior value proposition to their own customers.

Ms Isha Mukesh Ambani, Executive Director, Reliance Retail Ventures Limited, said, “We are pleased to  further deepen our relationship with ADIA with their continued support as an investor in Reliance Retail  Ventures Limited. Their long-standing experience of over decades of value creation globally will further  benefit us in implementing our vision and driving transformation of the Indian retail sector. ADIA’s  investment in RRVL is a further testament to their belief in the Indian economy and our business fundamentals, strategy and execution capabilities.”

Mr Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department, ADIA, said,  “Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an  unprecedented pace. This investment aligns with our strategy of supporting our portfolio companies that  are transforming their respective end-markets. We are pleased to partner with the Reliance Group, and  increase our exposure to India’s dynamic and fast-growing consumer sector.”

The transaction is subject to customary approvals.

Morgan Stanley acted as financial advisor to Reliance Retail Ventures Limited and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels.