Balance Sheet as at 31st March, 2021

1 Balance Sheet as at 31st March, 2021. As at As at Note 31st March, 2021 31st March, 2020. (` in Crores) (` in Crores). ASSETS. Non-current assets (a) Property, Plant and Equipment 3A (b) Capital work-in-progress 3B (c) Investment Property 3C (d) Goodwill 3D . (e) Other Intangible assets 3E (f) Other Intangible assets under development 3F (g) Right of use assets 3G (h) Financial Assets (i) Investments 4 (ii) Loans 5 (iii) Others 6 (i) Other non-current assets 7 Current assets (a) Inventories 8 (b) Financial Assets (i) Investments 9 (ii) Trade receivables 10 (iii) Cash and cash equivalents 11 (iv) Other Bank Balances 12 (v) Loans 5 (vi) Others 6 (c) Other current assets 7 TOTAL ASSETS EQUITY AND LIABILITIES. Equity (a) Equity Share capital 13 (b) Other Equity Liabilities Non-current liabilities (a) Financial Liabilities (i) Borrowings 14 (ii) Lease Liabilities 15 (iii) Other financial liabilities 16 (b) Provisions 17 (c) Deferred tax liabilities (Net) 18 Current liabilities (a) Financial Liabilities (i) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (ii) Lease Liabilities 15 (iii) Other financial liabilities 16 (b) Other current liabilities 19 (c) Provisions 17 (d) Current Tax Liabilities (Net) 20 TOTAL EQUITY AND LIABILITIES The accompanying notes 1 to 30 are an integral part of the Financial Statements.

2 In terms of our report attached On behalf of the Board For S R B C & CO LLP. Chartered Accountants R. TANDON Director S. PURI Chairman & Managing Director Firm Registration Number: 324982E/E300003 Kolkata, India New Delhi, India Sudhir Soni Partner S. DUTTA Chief Financial Officer R. K. SINGHI Company Secretary Mumbai, India Kolkata, India Kolkata, India Dated: June 01, 2021 Dated: June 01, 2021. 146 ITC Limited REPORT AND ACCOUNTS 2021. Statement of Profit and Loss for the year ended 31st March, 2021. Note For the year ended For the year ended 31st March, 2021 31st March, 2020. (` in Crores) (` in Crores). I Revenue From Operations 21A, 21B II Other Income 22 III Total Income (I+II) IV EXPENSES. Cost of materials consumed Purchases of Stock-in-Trade Changes in inventories of finished goods, Stock-in-Trade, work-in-progress and intermediates ( ) ( ).

3 Excise duty Employee benefits expense 23 Finance costs 24 Depreciation and amortization expense Other expenses 25 Total expenses (IV) V Profit before exceptional items and tax (III-IV) VI Exceptional Items ( ). VII Profit before tax (V+VI) VIII Tax expense: Current Tax 26 Deferred Tax 26 ( ). IX Profit for the year (VII-VIII) Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss: Remeasurements of the defined benefit plans 27(v) ( ) ( ). Equity instruments through other comprehensive income ( ). Effective portion of gains / (losses) on designated portion of hedging instruments in a cash flow hedge ( ) ( ). (ii) Income tax relating to items that will not be reclassified to profit or loss 26 B (i) Items that will be reclassified to profit or loss: Effective portion of gains / (losses) on designated portion of hedging instruments in a cash flow hedge ( ).

4 (ii) Income tax relating to items that will be reclassified to profit or loss 26 ( ) X Other Comprehensive Income [A (i-ii)+B (i-ii)] ( ). XI Total Comprehensive Income for the year (IX+X) XII Earnings per equity share (Face Value ` each): 27(i). (1) Basic (in `) (2) Diluted (in `) The accompanying notes 1 to 30 are an integral part of the Financial Statements. In terms of our report attached On behalf of the Board For S R B C & CO LLP. Chartered Accountants R. TANDON Director S. PURI Chairman & Managing Director Firm Registration Number: 324982E/E300003 Kolkata, India New Delhi, India Sudhir Soni Partner S. DUTTA Chief Financial Officer R. K. SINGHI Company Secretary Mumbai, India Kolkata, India Kolkata, India Dated: June 01, 2021 Dated: June 01, 2021. ITC Limited REPORT AND ACCOUNTS 2021 147.

5 148. Statement of changes in equity for the year ended 31st March, 2021. A. Equity Share Capital (` in Crores). Balance at the beginning Changes in equity share Balance at the end of the of the reporting year capital during the year reporting year ITC Limited For the year ended 31st March, 2020 For the year ended 31st March, 2021 B. Other Equity (` in Crores). Reserves and Surplus Items of other comprehensive income Equity Share Instruments Effective Foreign Total Options Capital through Other portion of Currency Capital Securities Outstanding Redemption Contingency General Retained Comprehensive Cash Flow Translation Reserve Premium Account Reserve Reserve Reserve Earnings Income Hedges Reserve REPORT AND ACCOUNTS 2021. Balance as at 31st March, 2019 ( ) Profit for the year Other Comprehensive Income (net of tax) ( ) ( ) ( ) ( ).

6 Total Comprehensive Income for the year ( ) ( ) Issue of equity shares under ITC Employee Stock Option Schemes Dividend Dividend 2018-19 ` per share ( ) ( ). Dividend distribution tax (paid) / refund received ( ) ( ). Transfer from Share Option Outstanding Account on exercise and lapse ( ) ( ). Transferred to initial carrying amount of hedged items (net of tax) Recognition of share based payment Balance as at 31st March, 2020 ( ) Profit for the year Other Comprehensive Income (net of tax) ( ) Total Comprehensive Income for the year Issue of equity shares under ITC Employee Stock Option Schemes Statement of changes in equity for the year ended 31st March, 2021. B. Other Equity (Contd.) (` in Crores). Reserves and Surplus Items of other comprehensive income Equity Share Instruments Effective Foreign Total Options Capital through Other portion of Currency Capital Securities Outstanding Redemption Contingency General Retained Comprehensive Cash Flow Translation Reserve Premium Account Reserve Reserve Reserve Earnings Income Hedges Reserve Dividends Final Dividend (2019-20 ` per share) ( ) ( ).

7 Interim Dividend (2020-21 ` per share) ( ) ( ). Dividend distribution tax (paid) / refund received Transfer from Share Option Outstanding Account on exercise and lapse ( ) ( ). Transfer from Equity Instruments through Other Comprehensive Income reserve on renunciation of rights entitlements (net of tax) ( ) . Transferred to initial carrying amount of hedged items (net of tax) Recognition of share based payment Balance as at 31st March, 2021 The Board of Directors of the Company have recommended Final Dividend of ` per share for the financial year ended 31st March, 2021 to be paid on fully paid Equity Shares amounting to ` Crores. The Final Dividend is subject to the approval of shareholders at the Annual General Meeting and has not been included as a liability in these financial statements.

8 Including the Interim Dividend of ` per share declared by the Board of Directors, the total Equity Dividend for the year ended 31st March, 2021 is ` per share (total Equity Dividend for the year ended 31st March, 2020 - ` per share). Capital Reserve: This Reserve represents the difference between value of the net assets transferred to the Company in the course of business combinations and the consideration paid for such combinations. Securities Premium: This Reserve represents the premium on issue of shares and can be utilized in accordance with the provisions of the Companies Act, 2013. Share Options Outstanding Account: This Reserve relates to stock options granted by the Company to employees under ITC Employee Stock Option Schemes. This Reserve is transferred to Securities Premium or Retained Earnings on exercise or cancellation of vested options.

9 Capital Redemption Reserve: This Reserve has been transferred to the Company in the course of business combinations and can be utilized in accordance with the provisions of the Companies Act, 2013. Contingency Reserve: This Reserve has been created out of Retained Earnings, as a matter of prudence, to take care of any unforeseen adverse developments in pending legal disputes. General Reserve: This Reserve is created by an appropriation from one component of equity (generally Retained Earnings) to another, not being an item of Other Comprehensive Income. The same can be utilized in accordance with the provisions of the Companies Act, 2013. ITC Limited Retained Earnings: This Reserve represents the cumulative profits of the Company and effects of remeasurement of defined benefit obligations.

10 This Reserve can be utilized in accordance with the provisions of the Companies Act, 2013. Equity Instruments through Other Comprehensive Income: This Reserve represents the cumulative gains (net of losses) arising on revaluation of Equity Instruments measured at Fair Value through Other Comprehensive Income, net of amounts reclassified, if any, to Retained Earnings when those instruments are disposed of. Effective portion of Cash Flow Hedges: This Reserve represents the cumulative effective portion of changes in Fair Value of derivatives that are designated as Cash Flow Hedges. It will be reclassified to profit or loss or included in the carrying amount of the non-financial asset in accordance with the Company's accounting policy. Foreign Currency Translation Reserve: This Reserve contains the accumulated Balance of foreign exchange differences arising on monetary items that, in substance, form part of the Company's net investment in a foreign operation whose functional currency is other than Indian Rupee.