Banganga Paper Industries: Board Meeting Outcome for Outcome Of Meeting Of Committee Of Independent Directors For Open Offerof Asgard AlcobevLimited (Formerly Known As Banganga Paper Industries Limited) (BSE Code: 512025 )

Please find below the outcome of meeting of the Committee of Independent Directors for Open Offer held on30.03.2026 inter alia has transacted the following:The Committee of Independent Directors at its meeting held on today discussed analyzed and reviewed that theopen offer given by Acquirers pursuant to Public Announcement dated 17th December 2025 Detailed PublicStatement dated 20th December 2025 published on 22nd December 2025 and Letter of Offer dated 19th March 2026. The Committee of Independent Directors has concluded that open offer is fair and reasonable.