Interim report
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Embassy Office Parks Management Services Private Limited (acting as the Manager to Embassy Office Parks REIT) Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka, India – 560 032 T: (080) 69354864 E: secretarial@embassyofficeparks.com CIN: U70100KA2014PTC073362 Website of Embassy Office Parks REIT: www.embassyofficeparks.com October 28, 2026 To, The Corporate Relations Department, The National Stock Exchange of India Limited, Exchange Plaza, 5th Floor, Plot No. C/1, G-Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051 To, The Corporate Relations Department, Department of Corporate Services, BSE Limited, 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai − 400001 Re: Scrip Symbol “EMBASSY”, Scrip Code 542602 and Scrip Codes 973910, 975051, 976042, 976240, 976699, 976700, 976864, 976946, 977606, 977901 and 978208 (NCDs) and Scrip Codes 731343, 731468, 731469 and 732282 (CPs). Dear Sir/ Madam, Subject: Outcome of the Board Meeting for the quarter and half-year ended September 30, 2026, held on Wednesday, October 28, 2026. We wish to inform you that the Board of Directors of Embassy Office Parks Management Services Private Limited (“EOPMSPL”), Manager to Embassy Office Parks REIT (“Embassy REIT”), at its Meeting held on Wednesday, October 28, 2026, through Audio-Visual Electronic Communication has inter-alia: 1. Approved the Unaudited Standalone and Consolidated Financial Results of Embassy REIT (“Unaudited Financial Results” ) for the quarter and half-year ended September 30, 2026, along with the limited review reports by the Statutory Auditors thereon; 2. Declared distributions of ₹6,701.61 million (Indian Rupees Six Thousand Seven Hundred and One point Six One million only) / ₹7.07 (Indian Rupees Seven point Zero Seven only) per Unit for the quarter ended September 30, 2026. The distribution comprises ₹132.71 million (Indian Rupees One Hundred and Thirty Two point Seven One million only) / ₹0.14 (Indian Rupees Zero point One Four only) per Unit in the form of interest, less applicable taxes, if any, ₹ 815.19 million (Indian Rupees Eight Hundred and Fifteen point One Nine million only) / ₹0.86 (Indian Rupees Zero point Eight Six only), per Unit in the form of dividend and ₹5,753.71 million (Indian Rupees Five Thousand Seven Hundred and Fifty Three point Seven One million only) / ₹6.07 (Indian Rupees Six point Zero Seven only) per Unit in the form of repayment of SPV level debt; 3. Took on record the Summary Valuation Report of Embassy REIT, issued by Ms. L Anuradha, MRICS, Independent Valuer, along with the Independent Property Consultant Report provided by Cushman & Wakefield (India) Private Limited, both dated October 28, 2026; 4. Declared Net Asset Value of ₹ 524.74 (Indian Rupees Five Hundred and Twenty Four point Seven Four only) per Unit for Embassy REIT as at September 30, 202 6, as per Regulation 10(22) of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 based on the Summary Valuation Report, issued by Ms. L Anuradha, MRICS, Independent Valuer, with
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Embassy Office Parks Management Services Private Limited (acting as the Manager to Embassy Office Parks REIT) Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka, India – 560 032 T: (080) 69354864 E: secretarial@embassyofficeparks.com CIN: U70100KA2014PTC073362 Website of Embassy Office Parks REIT: www.embassyofficeparks.com Independent Property Consultant Report issued by Cushman & Wakefield (India) Private Limited , both dated October 28, 2026. With this letter, we have enclosed a copy of the Unaudited Financial Results of Embassy REIT for the quarter and half-year ended September 30, 2026, along with the limited review reports of the Statutory Auditors and Security Cover Certificate s in compliance with SEBI Circular bearing reference no. SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022, read with Regulation 54 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as Appendices I , II and III respectively. Per Regulation 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have enclosed a statement of use of proceeds for the Non-convertible Debentures issued by Embassy REIT for the quarter ended September 30, 2026, as Appendix IV. The documents referred to above are also uploaded on our website at https://www.embassyofficeparks.com/investors/. The Press Release, Earnings Presentation, Supplemental Operating and Financial Databook, the Summary Valuation Report of Embassy REIT will be uploaded separately. We also wish to inform you that the record date for the distributions to Unitholders for the quarter ende d September 30, 2026, will be Saturday, October 31, 2026, and the payment of distributions will be made on or before Friday, November 06, 2026. The meeting commenced at 1422 Hrs IST and concluded at 1531 Hrs IST. Thanking you, For and on behalf of Embassy Office Parks REIT acting through its Manager, Embassy Office Parks Management Services Private Limited Vinitha Menon Head - Company Secretary and Compliance Officer A25036 Encl: As above
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12th Floor “UB City” Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000 S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 Independent Auditor's Review Report on the Quarterly and Half-Yearly Standalone Unaudited Financial Results of the Trust Pursuant to Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 as amended To The Board of Directors of Embassy Office Parks Management Services Private Limited (“the Manager”) (Acting in its capacity as the Manager of Embassy Office Parks REIT) 12th Floor, Pinnacle Tower, Embassy One, 8 Bellary Road, Ganganagar, R T Nagar, Bengaluru -560032 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Embassy Office Parks REIT (“the REIT”), for the quarter and half year ended September 30, 2026 (“the Statement”), being submitted by Embassy Office Parks Management Services Private Limited (“the Manager”) pursuant to the requirement of Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended, including any guidelines and circulars issued thereunder (together referred as the “REIT Regulations”). 2. This Statement, which is the responsibility of the Manager’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), specified under Companies (Indian Accounting Standards) Rules, 2015, as amended, to the extent not inconsistent with REIT Regulations, other accounting principles generally accepted in India and read with REIT Regulations. The Statement has been approved by the Board of Directors of the Manager. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of Manager personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Appendix I
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4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard to the extent not inconsistent with REIT Regulations, other accounting principles generally accepted in India and read with REIT Regulations, has not disclosed the information required to be disclosed in terms of REIT Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to note 21 of the Statement which describes the presentation/classification of "Unit Capital" as "Equity" in order to comply with the mandatory requirements of the relevant REIT Regulations, instead of the applicable requirements of Ind AS 32 – Financial Instruments: Presentation. Our conclusion is not modi fied in respect to the above matter. For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Nikunj Jayendra Shah Partner Membership No.: 222345 UDIN: 26222345HRIFVY8080 Place: Bengaluru, India Date: October 28, 2026 Digitally signed by NIKUNJ JAYENDRA SHAH DN: cn=NIKUNJ JAYENDRA SHAH, c=IN, o=Personal Date: 2026.10.28 15:24:09 +05'30' NIKUNJ JAYENDRA SHAH
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(all amounts in Rs. million unless otherwise stated) Sr.No Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Income and gains Other income 3,940.37 3,803.89 4,807.40 7,744.26 9,089.88 21,735.32 (I) Total Income 3,940.37 3,803.89 4,807.40 7,744.26 9,089.88 21,735.32 Expenses Other expenses 109.81 113.57 135.34 223.38 243.77 481.92 (II) Total Expenses 109.81 113.57 135.34 223.38 243.77 481.92 (III) Earnings before finance costs and tax (I - II) 3,830.56 3,690.32 4,672.06 7,520.88 8,846.11 21,253.40 (IV) Finance costs 2,567.65 2,413.33 2,116.72 4,980.98 3,862.82 8,104.13 (V) Profit before tax (III - IV) 1,262.91 1,276.99 2,555.34 2,539.90 4,983.29 13,149.27 (VI) Tax expenses Current tax * 0.02 0.14 0.32 0.16 12.99 14.32 (VII) Profit for the quarter/year (V - VI) 1,262.89 1,276.85 2,555.02 2,539.74 4,970.30 13,134.95 (VIII) Other comprehensive income Items that will not be reclassified subsequently to profit or loss - Re-measurement (loss) / gain of defined benefits obligations - - - - - - - Income tax relating to above item - - - - - - Total other comprehensive income for the period/year - - - - - - (IX) Total comprehensive income attributable to Un itholders for the period/year (VII + VIII) 1,262.89 1,276.85 2,555.02 2,539.74 4,970.30 13,134.95 Earnings per Unit Basic, attributable to the Unitholders of the Trust (in Rs. per unit) 1.33 1.35 2.70 2.68 5.24 13.86 Diluted, attributable to the Unitholders of the Trust (in Rs. per unit) 1.33 1.35 2.70 2.68 5.24 13.86 * Current tax expense for the quarter and half year ended 30 September 2026 includes a reversal of excess tax provision relating to prior periods amounting to Rs. 0.65 million. The current tax for the half year ended 30 September 2025 includes tax of prior periods amounting to Rs. 12.12 million. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of unaudited Standalone Financial Results for the quarter and half year ended 30 September 2026 Page 1
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(all amounts in Rs. million unless otherwise stated) Particulars As at 30 September 2026 As at 30 September 2025 (Unaudited) (Audited) ASSETS Non-current assets Financial assets - Investments 247,803.42 242,395.38 - Loans 94,478.19 78,450.25 - Other financial assets 280.44 - Non-current tax assets (net) - 3.57 Other non-current assets 26.78 26.78 Total non-current assets 342,588.83 320,875.98 Current assets Financial assets - Investments 605.06 555.91 - Cash and cash equivalents 2,722.55 108.02 - Loans 7,597.65 8,976.59 - Other financial assets 64.26 29.71 Other current assets 98.48 142.56 Total current assets 11,088.00 9,812.79 Total assets 353,676.83 330,688.77 EQUITY AND LIABILITIES EQUITY Unit capital 288,262.11 288,262.11 Distribution : Repayment of Capital (79,434.72) (61,339.43) Other equity (1,491.56) (5,845.04) Total equity 207,335.83 221,077.64 LIABILITIES Non-current liabilities Financial liabilities - Borrowings 88,786.05 95,537.33 Total non-current liabilities 88,786.05 95,537.33 Current liabilities Financial liabilities - Borrowings 57,141.99 13,676.92 - Trade payables - total outstanding dues of micro enterprises and small enterprises 0.27 4.45 - total outstanding dues of creditors other than micro enterprises and small enterprises 87.35 4.35 - Other financial liabilities 134.30 202.32 Other current liabilities 190.99 185.21 Current tax liabilities (net) 0.05 0.55 Total current liabilities 57,554.95 14,073.80 Total equity and liabilities 353,676.83 330,688.77 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of unaudited Standalone Assets and Liabilities Page 2
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(all amounts in Rs. million unless otherwise stated) Particulars For the half year ended 30 September 2026 For the half year ended 30 September 2025 (Unaudited) (Unaudited) Cash flow from operating activities Profit before tax 2,539.90 4,983.29 Adjustments to reconcile profit before tax to net cash flows: Interest income (6,156.77) (5,257.85) Dividend (1,585.59) (3,829.99) Profit on sale of investments (1.90) (2.04) Finance costs 4,980.98 3,862.82 Operating loss before working capital changes (223.38) (243.77) Working capital adjustments Other current and non-current assets (10.77) (48.26) Other current and non-current liabilities (12.96) (6.38) Other current financial liabilities 58.22 25.25 Other financial assets 15.06 19.10 Trade payables 71.85 4.66 Cash used in operating activities before taxes (101.98) (249.40) Taxes (paid), net of refund (0.81) (0.32) Net cash used in operating activities (102.79) (249.72) Cash flow from investing activities Loans given to subsidiaries (74,571.41) (81,195.99) Loans repaid by subsidiaries 61,576.96 59,752.15 Investment in subsidiary including issue expenses (301.20) (3.57) Redemption of debentures issued by joint venture 283.83 260.81 Interest received 5,037.28 3,779.15 Dividend received 1,585.59 3,829.99 Redemption of mutual funds (net) 1.90 2.04 Net cash used in investing activities (6,387.05) (13,575.42) Cash flow from financing activities Proceeds from issue of non-convertible debentures (net of issue expenses) 16,927.76 47,424.92 Redemption of commercial paper (4,000.00) - Proceeds from issue of commercial paper (net of issue expenses) 14,187.23 6,351.11 Redemption of non-convertible debentures (3,000.00) (25,500.00) Distribution to unitholders (12,142.37) (10,881.84) Interest paid (4,296.66) (3,470.69) Net cash generated from financing activities 7,675.96 13,923.50 Net increase in cash and cash equivalents 1,186.12 98.36 Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the beginning of the period 1,536.43 9.66 Cash and cash equivalents at the end of the period 2,722.55 108.02 Components of cash and cash equivalents Balances with banks - in current accounts 2,719.97 105.15 - in escrow accounts 2.58 2.87 2,722.55 108.02 Embassy Office Parks REIT Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Cash Flows RN: IN/REIT/17-18/0001 Page 3
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A. Unit capital (all amounts in Rs. million unless otherwise stated) Particulars Units (No in million) Amount Balance as at 1 April 2025 947.90 288,262.11 Changes during the period - - Balance as at 30 September 2025 947.90 288,262.11 Balance as at 1 April 2026 947.90 288,262.11 Changes during the period - - Balance as at 30 September 2026 947.90 288,262.11 B. Particulars Other equity Retained earnings Balance as at 1 April 2025 * (6,872.10) (54,400.84) Add: Total comprehensive income for half year ended 30 September 2025 4,970.30 - Less: Distribution to Unitholders during the half year ended 30 September 2025 **^ (3,943.24) (6,938.59) Balance as at 30 September 2025 (5,845.04) (61,339.43) Balance as at 1 April 2026 (1,471.98) (69,851.51) Add: Total comprehensive income for the half year ended 30 September 2026 2,539.74 - Less: Distribution to Unitholders during the half year ended 30 September 2026 **^^ (2,559.32) (9,583.21) Balance as at 30 September 2026 (1,491.56) (79,434.72) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 (this space is intentionally left blank) ** The distributions made by Trust to its Unitholders consist of three compo nents. Distribution in the form of interest and dividend is part of retaine d earnings and repayment of capital is shown as a separate line item on the face of the balance sheet. ^ The distribution for the half year ended 30 September 2025 does not include the distribution relating to the quarter ended 30 September 2025, as the sa me was paid subsequent to the quarter ended 30 September 2025. ^^ The distribution for the half year ended 30 September 2026 does not include the distribution relating to the quarter ended 30 September 2026, as the s ame will be paid subsequent to the quarter ended 30 September 2026. Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Changes in Unit holders’ Equity Distribution : Repayment of Capital * Opening balance of retained earnings is regro uped to comply with requirements unde r amendment to Chapter 4 of SEBI master circular no. SEBI/HO/DDHS - PoD-2/P/CIR/2025/99 dated 11 July 2025. Page 4
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(all amounts in Rs. million unless otherwise stated) Sl No Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 1 Cashflows from operating activities of the Trust 1.43 (104.22) (150.07) (102.79) (249.72) (534.74) 2 9,269.40 8,515.73 8,442.56 17,785.13 15,797.51 32,642.32 3 1.58 0.88 0.76 2.46 2.04 4.86 4 - - - - - 5,56 2.14 • Applicable capital gains and other taxes - - - - - - - - - - - - • Directly attributable transaction costs - - - - - - - - - - - (5,562 .14) 5 - - - - - - 6 (2,567.65) (2,413.33) (2,116.72) (4,980.98) (3,862.82) (8,104.13) 7 - - - - - - 8 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 9 - - - - - - NDCF at Trust Level 6,704.76 5,999.06 6,176.5 3 12,703.82 11,687.01 24,008.31 Notes : 1. 2. (v) statutory, judicial, regulatory, or governmental stipulations; The Board of Directors of the Manager to the Trust, in their meeting held on 28 October 2026, have declared distribution to Unitholders of Rs.7.07 per unit amounting to Rs. 6,701.61 million for the quarter ended 30 September 2026. The distribution of Rs. 7.07 per unit comprises Rs. 0.14 per unit in the form of interest payment, Rs. 0.86 per unit in the form of dividend and the balance Rs. 6.07 per unit in the form of repayment of debt. Rs. 8,170.39 million has been received post 30 September 2026, but before finalisation and adoption of the financial statements by the Board of Directors. This is in compliance with the revised NDCF Framework pursuant to Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS- PoD-2/P/CIR/2025/99 dated 11 July 2025. Along with distribution of Rs. 5,981.21 million/ Rs. 6.31 per unit for the quarter ended 30 June 2026, the cumulative distribution for the half year ended 30 September 2026 aggregates to Rs. 12,682.82 million/ Rs. 13.38 per unit. RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Add: Cash flows received from SPV’s / Investment entities which represent distributions of NDCF computed as per relevant framework (refer note 2 below) Add: Treasury income / income from investing activities of the Trust (interest income received from FD, any investment entities as defined in Regulation 18(5), tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) Add: Proceeds from sale of real estate invest ments, real estate assets or shares of SPVs/Holdcos or I nvestment Entity adjusted for the following: • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations Add: Proceeds from sale of real estate inv estments, real estate a ssets or sale of shares of SPVs/ Hold cos or Investment Entity not distributed pursuant to an earlier plan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently Less: Finance cost on Borrowings as per Profit and Loss Account. However, amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid Less: Debt repayment at Trust level (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt in any form or funds raised through issuance of units) Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i) loan agreement entered with financial institution, or (iii) terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, (iv) agreement pursuant to which the Trust operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or Less: any capital expenditure on existing assets owned / leased by the REIT, to the extent not funded by debt / equity or from contractual reserves created in the earlier years (ii) terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or • Related debts settled or due to be settled from sale proceeds Net Distributable Cash Flows (NDCF) pursuant to guidance under Ch apter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99, dated 11 July 2025. Statement of Net Distributable Cash Flows (NDCF) of the Trust Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Page 5
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A) Statement of Net Assets at fair value (all amounts in Rs. million unless otherwise stated) S.No Particulars Unit of measurement Book value Fair value Book value Fair value A Assets Rs in million 353,676.83 643,740.12 330,688.77 532,279.86 B Liabilities Rs in million 1 46,338.10 146,338.10 109,608.94 109,608.94 C Net Assets (A-B) Rs in million 207,338.73 497,402.02 221,079.83 422,670.92 D No. of units Numbers 947,893,743 947,893,743 947,893,743 947,893,743 E NAV (C/D) Rs 218.74 524.74 233.23 445.91 Notes 1) Measurement of fair values Valuation technique 2) Break up of Net asset value Particulars As at 30 September 2026 As at 30 September 2025 Fair value of investments in SPVs 634,070.88 524,901.06 Add : Other assets 9,669.24 7,378.80 Less : Liabilities (146,338.10) (109,608.94) Net Assets 497,402.02 422,670.92 3) B) Statement of Total Returns at fair value S.No Particulars For the half year ended 30 September 2026 For the half year ended 30 September 2025 (Unaudited) (Unaudited) A 2,539.74 4,970.30 B 33,132.68 17,817.54 C (A+B) Total Return 35,672.42 22,787.84 (this space is intentionally left blank) RN: IN/REIT/17-18/0001 Embassy Office Parks REIT As at 30 September 2025 Total comprehensive income As at 30 September 2026 The Trust holds investment in SPVs which in turn hold the properties. Hence, the breakup of property wise fair values has been disclosed in the Consolidated financial statements. Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors The fair value of investment properties, investment properties under development (including capital advances); property, plant and equipment (re lating to the hotel property in UPPL, MPPL, ETV assets and QBPL, and the solar power plant in EEPL); capital work-in-progress (relating to proposed hotel to be developed in ETV assets and EP TPL); intangibles and investment in GLSP as at 30 September 2026 and 30 September 2025 has been determined by L. Anuradha, independent external registered property valuer a ppointed under Regulation 21 of REIT regulations, having appropriately recogni sed professional qua lifications and recent experience in the location and category of the properties being valued in conjunction with value assessment services undertaken by Cushman & Wakefield. The fair value measurement for all the investment properties, investment properties under development, property plant and equipment, intangibles and capital work-in-progress has been categorized as a Level 3 fair value based on the inputs to the valuation technique used. The valuers have followed a Discounted Cash Flow method. The valuation model considers the present value of net cash flows to be generated from the resp ective properties, taking into account the expected rental growth rate, vacancy period, occupancy ra te, average room rent, lease incentive costs and blended tariff rates. The expected net cash flows are discounted using the risk adjusted discount rates. Among other factors, the discount rate estimation considers the quality of a building and its loca tion (prime vs secondary), tenant credit quality, lease terms, seasonality in sustaining a stable average room rent and occupancy for the hotels. Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure pursuant to guidance under Chapter 4, Paragraph 4.1.5 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 Income of SPV's and changes in fair value not recognised in total comprehensive income of Standalone financial statements Page 6
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1 Security cover (in times) Particulars As at 30 September 2026 As at 30 September 2025 Embassy Office Parks REIT Series IV NCD NA 2.61 Embassy Office Parks REIT Series V NCD - Series B 3.27 2.96 Embassy Office Parks REIT Series VI NCD 4.48 4.29 Embassy Office Parks REIT Series VIII NCD 6.57 3.37 Embassy Office Parks REIT Series XI NCD 2.85 2.23 Embassy Office Parks REIT Series XII NCD 2.14 2.66 Embassy Office Parks REIT Series XIII NCD - Series A 2.59 2.26 Embassy Office Parks REIT Series XIII NCD - Series B 2.59 2.26 Embassy Office Parks REIT Series XIV 2.14 2.66 Embassy Office Parks REIT Series XV 2.51 2.20 Embassy Office Parks REIT Series XVI 2.83 NA Embassy Office Parks REIT Series XVII 2.14 NA Embassy Office Parks REIT Series XVIII 2.22 NA 2 (all amounts in Rs. million unless otherwise stated) Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Asset cover ratio (refer a below) 5.07 5.24 5.86 5.07 5 .86 5.82 Debt-equity ratio (refer b below) 0.70 0.64 0.49 0.70 0.49 0.56 Debt-service coverage ratio (refer c below) 1.49 1.53 2.21 1.51 2.29 2.62 Interest-service coverage ratio (refer d below) 1.49 1.53 2.21 1.51 2.29 2.62 Outstanding redeemable preference shares ^ - - - - - - Debenture redemption reserve ^ - - - - - - Capital redemption reserve ^ - - - - - - Net worth (refer e below) 207,335.83 21 2,054.16 221,077.64 207,335.83 221,077.64 216,938.62 Net profit after tax 1,262.89 1,276.85 2,555.02 2,539.74 4,970.30 13,134.95 Earnings per unit - Basic 1.33 1.35 2.70 2.68 5.24 13.86 Earnings per unit - Diluted 1.33 1.35 2.70 2.68 5.24 13.86 Current Ratio (in times) (refer f below) 0.19 0.15 0.70 0.19 0.70 0.07 Long term debt to working capital (in times) (refer g below) (1.91) (2.18) (22.42) (1.91) (22.42) (3.20) Bad debts to Account receivable ratio (in times) ^ - - - - - - Current liability ratio (in times) (refer h below) 0.39 0.35 0.13 0.39 0.13 0.25 Total debts to total assets (in times) (refer i below) 0.41 0.39 0.33 0.41 0.33 0.36 Debtors’ turnover (in times) ^ - - - - - - Inventory turnover ^ - - - - - - Net operating income ^ - - - - - - Operating margin (%) ^ - - - - - - Net profit margin (in %) (refer j below) 32.05% 33.57% 53.15% 32.80% 54.68% 60.43% Distribution per unit (refer k below) 7.07 6.31 6.51 13.38 12.31 25.28 Formulae for computation of ratios are as follows : ^ Not Applicable (1) Total borrowings = Long-term borrowings + Short-term borrowings (2) Unitholder's Equity = Unit Capital + Other equity + Distribution (Repayment of Capital) (3) Long term debt = Long term borrowings (excluding current maturities of long term debt) g) Long term debt to working capital = Long term debt (3)/ working capital (i.e., Current assets less current liabilities) h) Current liability ratio = Current liabilities / Total liabilities i) Total debts to total assets = Total borrowings / Total assets j) Net profit margin percent = Profit/(loss) after tax / Total income k) Distribution per unit = Total distribution / no. of units c) Debt Service Coverage Ratio = Earnings before Finance costs, Impairment Loss and Tax / [Finance cost + Principal repayments made during the period to the extent not repaid through debt or equity] d) Interest Service Coverage Ratio = Earnings before Finance costs, Impairment Loss and Tax / Finance cost e) Net worth = Unit capital + Other equity + Distribution (Repayment of Capital) f) Current ratio = Current Assets / Current liabilities Embassy Office Parks REIT Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure required as per Paragraph 4.18.2 of SEBI master circular no. SEBI /HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 and Chapter XVII, Part III of SEBI master circular no. SEBI/HO/DDHS/DDHS- PoD/P/CIR/2025/0000000137 dated 15 October 2025 r/w Regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a) Asset cover ratio = Gross asset value of the Subsidiaries and Joint venture of the Trust as computed by independent valuers /Total borrowings of the Trust (1) b) Debt equity ratio = Total borrowings of the Trust (1) / Unitholders' Equity (2) Disclosure required as per Paragraph 4.18.1 of SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99, dated 11 July 2025, relating to secured, listed non-convertible debentures. RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Page 7
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3 (all amounts in Rs. million unless otherwise stated) Particulars Security terms As at 30 September 2026 As at 30 September 2025 The NCD's are secured against each of the following in favour of the Security Trustee (holding for the benefit of the Debenture Trustee and ranking pari passu inter se the Debenture Holders): - 3,000.00 1. A first ranking pari passu charge by way of mortgage created by SIPL on the constructed, under- construction buildings, erections, constructions of every description and related parcels identified as Block 9, admeasuring 1.1 m illion square feet and forming part of the development known as Embassy TechVillage. 2. A first ranking pari passu pledge created by the Embassy REIT over its shareholding in SIPL; known as the "Secured SPV". 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from SIPL 4. A first ranking pari passu charge by way of hypothecation created by SIPL over all current and future movable assets, including identified bank accounts and receivables. 5. A corporate guarantee issued by SIPL. The NCD's are secured against each of the following in favour of the Security Trustee (holding for the benefit of the Debenture Trustee and ranking pari passu inter se the Debenture Holders): 11,000.00 11,000.00 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Magnolia (Block B), Pine (Block L5), Mountain Ash (Block H2) and Silver Oak (Block E2) having an aggregate leasable area of 18,78,315 sq ft and land admeasuring 10.508 acres forming part of the development known as E mbassy Manyata Business Park. 2. A first ranking exclusive charge by way of mortgage created by QBPPL on the constructed buildings and related parcels identified as Block IT 1 and Block IT 2 having aggregate leasable area of 42,163 sq metres and underlying land situated at Embassy Qubix, Pune. 3. A first ranking pari passu pledge created by Embassy REIT over its shareholding in MPPL; known as “Secured SPV”. 4. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over the identified receivables from MPPL. 5. A first ranking pari passu charge by way of hypothecation created by MPPL over identified bank accounts and receivables. 6. A first ranking exclusive charge by way of hypothecation created by QBPPL over identified receivables. 7. A corporate guarantee issued by MPPL. The NCD's are secured against each of the following in favour of the Security Trustee (holding for the benefit of the Debenture Trustee and ranking pari passu interse the Debenture Holders): 10,000.00 10,000.00 1. A sole and exclusive first ranking pari passu pledge created by MPPL over the 50% shareholding of GLSP. 2. A sole and exclusive first ranking pari passu pledge created by Embassy REIT over all the debentures issued by GLSP ("GLSP NCDs") 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over the identified receivables/ cashflows of GLSP NCDs issued by GLSP. 4. A first ranking pari passu charge by way of hypothecation created by MPPL over the identified receivables from GLSP. 5. A corporate guarantee issued by MPPL. Disclosure required as per Paragraph 4.18.1 of SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99, dated 11 July 2025, relating to secured , listed non- convertible debentures. Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Debt at face value Nil (30 September 2025 : 3,000) Embassy REIT Series IV, Non-Convertible debentures (NCD) 2021, face value of Rs.1,000,000 each 11,000 (30 September 2025 : 11,000) Embassy REIT Series V - Series B, Non- Convertible debentures (NCD) 2021, face value of Rs.1,000,000 each 10,000 (30 September 2025 : 10,000) Embassy REIT Series VI - Non- Convertible debentures (NCD) 2022, face value of Rs.1,000,000 each Page 8
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3 (all amounts in Rs. million unless otherwise stated) Particulars Security terms As at 30 September 2026 As at 30 September 2025 Disclosure required as per Paragraph 4.18.1 of SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99, dated 11 July 2025, relating to secured , listed non- convertible debentures. Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Debt at face value The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 5,000.00 5,000.00 1. A first ranking charge by way of mortgage over commercial development along with undivided share of approximately 0.896 Acres (39,052.04 square feet) (i.e., 15.96% in the larger property) totally admeasuring to 1,94,947.56 square feet along with 254 car parking associated with the commercial development known as Embassy One. 2. A first ranking pari passu charge by way of mortgage created by SIPL on the constructed, under- construction buildings, erections, constructions of every description and related parcels identified as Block 9, admeasuring 1.1 m illion square feet and forming part of the development known as Embassy TechVillage to the extent of Rs.1,500 million (SIPL Guarantee Amount). 3. A first ranking pledge created by Embassy REIT over its shareholding in QBPL. 4. A first ranking charge by way of hypothecation created by QBPL including over receivables. 5. A first ranking charge by way of hypothecation by SIPL including over identified bank accounts and receivables to the extent of SIPL guarantee amount. 6. A corporate guarantee issued by QBPL. 7. A corporate guarantee issued by SIPL upto an extent of SIPL guarantee amount. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders) : 9,000.00 9,000.00 1. A first ranking charge by way of mortgage created on the constructed buildings and related parcels identified as Tower A, Tower B and Tower C, having aggregate leasable area of 1,186,149 sq ft and underlying land situated at Embassy 247, Mumbai. 2. A first ranking pledge created by Embassy REIT over its shareholding in VCPPL. 3. A first ranking charge by way of hypothecation created by Embassy REIT over identified receivables from VCPPL. 4. A first ranking charge by way of hypothecation created by VCPPL over identified bank accounts and receivables. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders) : 10,000.00 10,000.00 1. A first ranking pari passu charge by way of mortgage over multi-storied o ffice building known by the name "Express Towers" with leasable area of 475,587 sq.ft along with underlying freehold land admeasuring 5,918.11 square meters 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in EPTPL & IENMPL 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from EPTPL and IENMPL 4. A first ranking pari passu charge by way of hypothecation created by EPTPL & IENMPL over identified bank accounts and receivables. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders) : 15,000.00 15,000.00 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Ebony (Block G2) having an aggregate leasable area of 4,03,256 sq ft and Hilton Hotel with 266 keys and Hilton Garden Inn with 353 keys along with convention Centre forming part of the development known as Embassy Manyata Business Park. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in OBPPL 3. A first ranking charge by way of hypothecation created by Embassy REIT over identified receivables from OBPPL. 4. A first ranking charge by way of hypothecation created by MPPL over identified receivables. 5. A first ranking charge by way of hypothecation created by OBPPL over identified bank accounts and receivables. 6. A corporate guarantee issued by MPPL & OBPPL to the extent of 50% each of the aggregate value of debenture outstanding 100,000 (30 September 2025 : 100,000) Embassy REIT Series XII, Non- Convertible debentures (NCD) 2024, face value of Rs.100,000 each 50,000 (30 September 2025 : 50,000) Embassy REIT Series VIII Non- Convertible debentures (NCD) 2023, face value of Rs.100,000 each 150,000 (30 September 2025: 150,000) Embassy REIT Series XIII - Series A, Non-Convertible debentures (NCD) 2025, face value of Rs.100,000 each 90,000 (30 September 2025 : 90,000) Embassy REIT Series XI, Non- Convertible debentures (NCD) 2024, face value of Rs.100,000 each Page 9
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3 (all amounts in Rs. million unless otherwise stated) Particulars Security terms As at 30 September 2026 As at 30 September 2025 Disclosure required as per Paragraph 4.18.1 of SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99, dated 11 July 2025, relating to secured , listed non- convertible debentures. Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Debt at face value 'The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 5,000.00 5,000.00 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Ebony (Block G2) having an aggregate leasable area of 4,03,256 sq ft and Hilton Hotel with 266 keys and Hilton Garden Inn with 353 keys along with convention Centre forming part of the development known as Embassy Manyata Business Park. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in OBPPL 3. A first ranking charge by way of hypothecation created by Embassy REIT over identified receivables from OBPPL. 4. A first ranking charge by way of hypothecation created by MPPL over identified receivables. 5. A first ranking charge by way of hypothecation created by OBPPL over identified bank accounts and receivables. 6. A corporate guarantee issued by MPPL & OBPPL to the extent of 50% each of the aggregate value of debenture outstanding. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 7,500.00 7,500.00 1. A first ranking pari passu charge by way of mortgage over multi-storied o ffice building known by the name "Express Towers" with leasable area of 475,587 sq.ft along with underlying freehold land admeasuring 5,918.11 square meters. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in EPTPL & IENMPL 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from EPTPL and IENMPL 4. A first ranking pari passu charge by way of hypothecation created by EPTPL & IENMPL over identified bank accounts and receivables. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 20,000.00 20,000.00 1. A first ranking pari passu charge by way of mortgage created by VTPL on the constructed buildings and related parcels identified as Block 2 having an aggregate leasable area of 19,15,325 square feet and forming part of the development known as E mbassy TechVillage together with portion of land admeasuring 12.93 acres on which the aforesaid buildings are constructed, to the extent of 50% of the aggregate value of debenture outstanding. 2. A first ranking pari passu charge by way of mortgage created by VTPL on the constructed buildings and related parcels identified as Block 5 having a total built up area of 28,51,991 square feet and forming part of the development known as E mbassy TechVillage together with portion of land admeasuring 13.45 acres on which the aforesaid buildings are constructed, to the extent of 50% of the aggregate value of debenture outstanding. 3. A first ranking pari passu pledge created by Embassy REIT over its shareholding in VTPL. 4. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from VTPL. 5. A first ranking pari passu charge by way of hypothecation created by VTPL over identified bank accounts and receivables of Block 2, to the extent of 50% of the aggregate value of debenture outstanding. 6. A first ranking pari passu charge by way of hypothecation created by VTPL over identified bank accounts and receivables of Block 5, to the extent of 50% of the aggregate value of debenture outstanding. 7. A corporate guarantee issued by VTPL. 50,000 (30 September 2025: 50,000 ) Embassy REIT Series XIII - Series B, Non-Convertible debentures (NCD) 2025, face value of Rs.100,000 each 75,000 (30 September 2025: 75,000) Embassy REIT Series XIV, Non- Convertible debentures (NCD) 2025, face value of Rs.1,00,000 each 200,000 (30 September 2025 : 200,000) Embassy REIT Series XV, Non- Convertible debentures (NCD) 2025, face value of Rs.100,000 each Page 10
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3 (all amounts in Rs. million unless otherwise stated) Particulars Security terms As at 30 September 2026 As at 30 September 2025 Disclosure required as per Paragraph 4.18.1 of SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99, dated 11 July 2025, relating to secured , listed non- convertible debentures. Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Debt at face value The NCD's are secured against each of the following in favour of Common Security Trustee/Security Trustee (Pari Passu) as applicable for the benefit of the Debenture Trustee and Debenture Holders: 14,000.00 - 1. A first ranking exclusive charge by way of mortgage created by ETPL over the two levels of basements, portion of ground and 1st floor and entire 2nd to 7th floors totally admeasuring 2,26,663 square feet, together with 54.2% undivided interest in the underlying land, common areas and voting rights in the building known as First International Financial Centre. 2. A first ranking exclusive charge by way of mortgage created by MPPL on the commercial o ffice building (3 basement floors plus ground floor plus 19 upper floors) titled Block M3 Phase I - Acacia with a built up area of 1,50,787.44 square metres, situated at Embassy Manyata Business Park, Bengaluru and a first ranking pari passu charge vide mortgage over the underlying leasehold land 3. A first ranking pari passu pledge created by Embassy REIT over its shareholding in ETPL and MPPL 4. A first ranking exclusive charge by way of hypothecation created by Embassy REIT over the identified receivables from ETPL and DSRA Deposit 5. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified current assets & bank accounts and identified receivables from MPPL 6. A first ranking exclusive charge by way of hypothecation by ETPL over identified bank accounts and receivables 7. A first ranking exclusive charge by way of hypothecation created by MPPL over identified bank accounts and receivables 8. A corporate guarantee issued by ETPL & MPPL to the extent of 50% each of the aggregate value of debentures outstanding. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 7,000.00 - 1. A first ranking pari passu charge by way of mortgage over multi-storied office building known by the name "Express Towers" with leasable area of 475,587 sq.ft along with underlying freehold land admeasuring 5,918.11 sq. m. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in EPTPL & IENMPL 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from EPTPL and IENMPL 4. A first ranking pari passu charge by way of hypothecation created by EPTPL & IENMPL over identified bank accounts and receivables. The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 10,000.00 - 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Banyan (Block L1), Hazel (Block L3) and Jacaranda (Block C1) having an aggregate built up area of 1,64,430 sq. m, along with 2036 car park spaces forming part of the development known as Embassy Manyata Business Park and a first ranking pari passu charge vide mortgage over the underlying land. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in MPPL. 3. A first ranking pari passu charge by way of hypothecation created by MPPL over identified bank accounts and receivables. 4. A corporate guarantee issued by MPPL. 100,000 (30 September 2025: Nil) E mbassy REIT Series XVIII, Non- Convertible debentures (NCD) 2026, face value of Rs.1,00,000 each 70,000 (30 September 2025: Nil) E mbassy REIT Series XVII, Non- Convertible debentures (NCD) 2026, face value of Rs.1,00,000 each 140,000 (30 September 2025 : Nil ) Embassy REIT Series XVI, Non- Convertible debentures (NCD) 2026, face value of Rs.100,000 each Page 11
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4 Earnings Per Unit (EPU) (all amounts in Rs. million unless otherwise stated) Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Profit after tax for calculating basic and diluted EPU (Rs. in million) 1,262.89 1,276.85 2,555.02 2,539.74 4,970.30 13,134.95 Weighted average number of Units (No. in million) 947.90 947.90 947.90 947.90 947.90 947.90 Earnings Per Unit - Basic (Rupees/unit) 1.33 1.35 2.70 2.68 5.24 13.86 - Diluted (Rupees/unit) * 1.33 1.35 2.70 2.68 5.24 13.86 * The Trust does not have any outstanding dilutive potential instruments. 5 Segment Reporting 6 Investment management fees 7 Secondment fees Pursuant to the Investment Management Agreement dated 19 December 2023, as amended, Manager is entitled to fees @ 1% of REIT Distributions which shall be payable either in cash or in Units or a combination of both, at the discretion of the Manager. The fees has been determined for undertaking management of the Trust and its investments. REIT Management fees accrued for the quarter and half year ended 30 September 2026 amounts to Rs.76.17 million (30 September 2025: Rs.65.99 million) and Rs.148.54 million (30 September 2025: Rs.129.52 million) respectively. There are no changes during the period in the methodology for computation of fees paid to Manager. Pursuant to the Secondment Agreement dated 11 March 2019 and renewed agreement dated 25 November 2024, Manager is entitled to fees of Rs.0.10 million p er month in respect of certain employees of Manager being deployed to the Trust in connection with the operation and management of the assets of the Trust. The fees shall be subject to an escalation of 5% (five pe r cent) every financial year. Secondment fees for the quarter and half year ended 30 September 2026 amounts to Rs.0.50 million (30 September 2025: Rs.0.48 million) and Rs.1.00 million (30 September 2025: Rs.0.95 million) respectively. There are no changes during the period in the methodology for computation of secondment fees paid to Manager. The Trust does not have any Operating segments for half year ended 30 September 2026 and 30 September 2025 hence, disclosure under Ind AS 108, Operating segments has not been provided in the unaudited Standalone Financial Results. The following reflects the profit and unit data used in the basic and diluted EPU computation. Basic EPU amounts are calculated by dividing the profit for the period/year attributable to Unitholders by the weighted average number of units outst anding during the period/year. Diluted EPU amounts are calculated by dividing the profit attributable to unitholders by the weighted average number of units outstanding during the period/year plus the weighted aver age number of units that would be issued on conversion of all the potential dilutive instruments into unit capital. Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 12
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Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 8 Commitments and contingencies a. Contingent liabilities Particulars As at 30 September 2026 As at 30 September 2025 Claims not acknowledged as debt in respect of indirect tax matters * 30.92 30.92 9 Details of utilisation of proceeds of issue of Embassy REIT Series XVII as at 30 September 2026 are as follows: Proposed utilisation Actual utilisation upto 30 September 2026 Unutilised amount as at 30 September 2026 7,002.41 7,002.41 - Total 7,002.41 7,002.41 - 10 Details of utilisation of proceeds of issue of Embassy REIT Series XVIII as at 30 September 2026 are as follows: Proposed utilisation Actual utilisation upto 30 September 2026 Unutilised amount as at 30 September 2026 10,000.70 - 10,000.70 Total 10,000.70 - 10,000.70 Objects of the issue as per the prospectus Objects of the issue as per the prospectus Repayment of existing debt availed by Embassy REIT and infusion of shareholder loans into SPVs for the purpose of refinancing of existing debt of the SPVs or for capital expenditure of the SPVs and payment of fees and expenses on the Issue * The Trust had received an order from the office of Deputy Commissioner of Commercial Taxes dated 19 August 2024 for demand of tax on corporate guarante e given by Trust amounting to Rs.30.92 million relating to period from 01 April 2019 to 31 March 2020. Aggrieved by the said order, the Trust has filed an appeal before the Joint Co mmissioner (Appeals) after making a pre-deposit of Rs. 1.51 million to stay the recovery of the balance amount. The matter was heard and order is received from the Joint Commissioner (Appeals) not in favour of the Trust. Aggrieved by the said order , the Trust has filed writ petition before the Hon'ble Karnataka HC wherein stay has been granted for the demand. Accordingly, a sum of Rs.30.92 million (30 September 2025 : Rs.30.92 million) has been disclosed as contingent liability. b. Statement of capital and other commitments i) There are no capital commitments as at 30 September 2026 and 30 September 2025. ii) The Trust has committed to provide financial support to some of its subsidiaries to ensure that these entities operate on g oing concern basis and are able to meet their debts and liabilities as they fall due. Repayment of existing debt availed by Embassy REIT and infusion of shareholder loans into SPVs for the purpose of refinancing of existing debt of the SPVs or for capital expenditure of the SPVs and payment of fees and expenses on the Issue Page 13
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11 Statement of Related party disclosures I List of related parties as at 30 September 2026 A. Parties to Embassy Office Parks REIT BREP VII SG Oxygen Holding (NQ) Pte Ltd BREP Asia HCC Holding (NQ) Pte Ltd BREP VII HCC Holding (NQ) Pte Ltd India Alternate Property Limited BREP Asia SG Indian Holding (NQ) Co II Pte. Ltd BREP VII SG Indian Holding (NQ) Co II Pte. Ltd Directors Key management personnel Jitendra Virwani Amit Shetty - CEO (w.e.f 01 August 2025) Vivek Mehra ** Dr. Ranjan Pai ** Dr. Punita Kumar Sinha Abhishek Agrawal - CFO Aditya Virwani Dr. Anoop Kumar Mittal Arvind Kathpalia (w.e.f. 04 June 2024 upto 08 October 2025) * Arvind Kathpalia (w.e.f. 13 November 2025) Prabhakar Kalavacherla (w.e.f. 16 February 2026) (i) Subsidiaries (SPV) (ii) Joint Venture Manyata Promoters Private Limited Golf links Software Park Private Limited Umbel Properties Private Limited Embassy Energy Private Limited Earnest Towers Private Limited Indian Express Newspapers (Mumbai) Private Limited Vikhroli Corporate Park Private Limited Qubix Business Park Private Limited Quadron Business Park Private Limited Oxygen Business Park Private Limited Galaxy Square Private Limited Embassy Pune TechZone Private Limited Vikas Telecom Private Limited Sarla Infrastructure Private Limited Embassy Construction Private Limited ESNP Property Builders and Developers Private Limited Eleanor Realty Holdings India Private Limited (w.e.f : 2 March 2026, refer note 18) B Other related parties with whom the transactions have taken place during the period Embassy Shelters Private Limited RBS Rugby Sports Private Limited Axis Bank Limited - Promoter of Trustee Embark Services Private Limited Next Level Experiences LLP ** Ceased to be Independent Directors w.e.f 30 September 2026. * Ceased to be a unitholder nominee director w.e.f 08 October 2025 and subsequently has been appointed as independent director w.e.f. 13 November 2025. RN: IN/REIT/17-18/0001 BRE/ Mauritius Investments - Co-Sponsor SG Indian Holding (NQ) Co. I Pte. Ltd Embassy Property Developments Private Limited - Co-Sponsor BRE/ Mauritius Investments - Co-Sponsor Embassy Office Parks Management Services Private Limited - Manager Axis Trustee Services Limited - Trustee Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Ritwik Bhattacharjee - CEO (Interim) (w.e.f. 07 November 2024 upto 31 July 2025) Embassy Office Parks REIT Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Directors and Key managerial personnel's of the Manager (Embassy Office Parks Management Services Private Limited) Vinitha Menon - Head Compliance Officer and Company Secretary BRE/Mauritius Investments II BREP NTPL Holding (NQ) Pte Ltd BREP VII NTPL Holding (NQ) Pte Ltd BREP GML Holding (NQ) Pte Ltd BREP VII GML Holding (NQ) Pte Ltd BREP Asia SG Oxygen Holding (NQ) Pte Ltd Page 14
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11 Statement of Related party disclosures (continued) II Transactions during the period/year Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Long term loan given to Quadron Business Park Private Limited 190.00 200.00 3,287.00 390.00 3, 307.00 3,517.00 Embassy Pune TechZone Private Limited 60.00 - 501.00 60.00 704.00 884.00 Manyata Promoters Private Limited 8,855.90 14,540.96 5,789.46 23,396.86 9,607.16 10,241.66 Qubix Business Park Private Limited 50.00 - 20.00 50.00 61.02 121.02 Oxygen Business Park Private Limited 206.00 82.50 15.00 288.50 3,551.50 3,671.50 Earnest Towers Private Limited 302.50 20.00 30.00 322.50 30.00 165.00 Vikhroli Corporate Park Private Limited 20.00 - 297.00 20.00 311.00 381.00 Galaxy Square Private Limited 20.00 - 58.00 20.00 94.00 114.00 Umbel Properties Private Limited 20.00 15.00 - 35.00 62.00 62.00 Indian Express Newspapers (Mumbai) Private Limited 50.00 - 4.00 50.00 23.00 53.00 Embassy Energy Private Limited 20.00 38.00 54.00 58.00 124.00 204.00 Sarla Infrastructure Private Limited 240.00 - 250.00 240.00 305.00 435.00 Embassy Construction Private Limited 410.00 535.00 100.00 945.00 300.00 3,450.00 ESNP Property Builders and Developers Private Limited 2,726.86 2,972.00 556.00 5,698.86 1,251.00 3,681.00 Vikas Telecom Private Limited 210.00 1,500.14 11,348.81 1,710.14 11,713.81 17,766.31 Short term loan given to Manyata Promoters Private Limited 8,700.00 6,437.04 15,682.50 15,137.04 40,746.50 49,846.50 Oxygen Business Park Private Limited 250.00 744.77 480.00 994.77 480.00 1,490.00 Quadron Business Park Private Limited 3,750.00 2,850.00 - 6,600.00 - - Vikas Telecom Private Limited 7,810.00 10,029.86 1,940.00 17,839.86 7,325.00 34,868.26 ESNP Property Builders and Developers Private Limited 250.00 250.00 250.00 500.00 1,200.00 1,740.00 Embassy Pune TechZone Private Limited - 2 14.88 - 214.88 - - Sarla Infrastructure Private Limited - - - - - 540.00 Long term loan repaid by Quadron Business Park Private Limited - 75 0.00 7,990.53 750.00 7,990.53 8,240.53 Embassy Pune TechZone Private Limited 183.03 12. 55 443.31 195.58 645.90 1,047.85 Manyata Promoters Private Limited 7,866.46 12,077.61 1,463.66 19,944.07 3,285.94 9,235.20 Qubix Business Park Private Limited 108.88 29.49 32.71 138.37 66.44 132.15 Oxygen Business Park Private Limited 337.11 244. 31 192.57 581.42 390.50 945.21 Earnest Towers Private Limited 122.45 - 209.34 122.45 244.38 265.81 Vikhroli Corporate Park Private Limited 25.69 - 83.74 25.69 147.80 368.31 Galaxy Square Private Limited 87.01 95.76 113.75 182.77 113.75 219.83 Umbel Properties Private Limited 42.99 118.31 44.92 161.30 188.41 366.71 Indian Express Newspapers (Mumbai) Private Limited 277.70 20.76 70.21 298.46 125.90 413.76 Embassy Energy Private Limited 86.92 46.98 58.90 133.90 180.64 180.64 Sarla Infrastructure Private Limited 209.58 223.88 151.62 433.46 282.64 706.30 ESNP Property Builders and Developers Private Limited 1,700.00 1,700.00 - 3,400.00 - - Vikas Telecom Private Limited 1,422.94 - 1,979.62 1,422.94 2,654.32 5,458.76 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 15
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Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 11 Statement of Related party disclosures (continued) II Transactions during the period / year (continued) Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Short term loan repaid by Manyata Promoters Private Limited 3,450.00 6,437.04 16,285.50 9,887.04 37,672.50 47,530.49 Oxygen Business Park Private Limited 250.00 744.77 - 994.77 - 1,220.00 Quadron Business Park Private Limited 4,150.00 1,700.00 - 5,850.00 - - Embassy Pune TechZone Private Limited - 2 14.88 - 214.88 - - ESNP Property Builders and Developers Private Limited 250.00 - 750.00 250.00 1,000.00 1,790.00 Vikas Telecom Private Limited 8,940.00 7,649.86 4,262.50 16,589.86 4,762.50 34,590.85 Sarla Infrastructure Private Limited - - - - - 540.00 Redemption of investment in debentures Golflinks Software Park Private Limited 143.42 14 0.41 131.80 283.83 260.81 532.88 Secondment fees Embassy Office Parks Management Services Private Limited 0.50 0.50 0.48 1.00 0.95 1.90 Conversion of short term to long term loan Manyata Promoters Private Limited - - - - - 3,721.01 Oxygen Business Park Private Limited - - - - - 570.00 Vikas Telecom Private Limited - - - - - 982.50 ESNP Property Builders and Developers Private Limited - - - - - 200.00 Investment management fees Embassy Office Parks Management Services Private Limited 76.17 72.37 65.99 148.54 129.52 282.87 Trademark license fees Embassy Shelters Private Limited 0.36 0.35 0.36 0.71 0.72 1.42 Miscellaneous expenses Manyata Promoters Private Limited 0.02 0.06 - 0.08 0.56 0.56 Quadron Business Park Private Limited * 0.40 1.75 - 2.15 - - Umbel Properties Private Limited - - - - - 2.61 Marketing and advertisement expenses Next Level Experiences LLP - - 0.38 - 0.38 0.74 Quadron Business Park Private Limited - - 2.18 - 2.18 4.90 Umbel Properties Private Limited - - - - - 0.11 Trustee fee expenses Axis Trustee Services Limited 1.63 1.62 1.63 3.25 3.25 6.49 Interest income on debentures Golflinks Software Park Private Limited 141.00 14 4.00 152.65 285.00 308.05 604.81 Page 16
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Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 11 Statement of Related party disclosures (continued) II Transactions during the period / year (continued) Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Dividend received Indian Express Newspapers (Mumbai) Private Limited 230.00 145.00 180.00 375.00 380.00 688.00 Vikas Telecom Private Limited - - 300.02 - 800.05 1,485.10 Qubix Business Park Private Limited - - 50.00 - 100.00 219.00 Earnest Towers Private Limited 202.57 199.00 89.69 401.57 299.99 807.19 Galaxy Square Private Limited 65.00 72.00 190.00 137.00 190.00 344.00 Eleanor Realty Holdings India Private Limited 120.00 120.00 - 240.00 - - Vikhroli Corporate Park Private Limited 197.02 235. 00 189.97 432.02 359.94 684.99 Manyata Promoters Private Limited - - 900.00 - 1,700.01 6,585.01 Interest income on loan to subsidiaries Quadron Business Park Private Limited 171.35 159.80 171.59 331.15 485.47 826.81 Embassy Pune TechZone Private Limited 202.01 204.20 214.95 406.21 419.52 831.34 Manyata Promoters Private Limited 555.56 517.11 705.58 1,072.67 1,088.46 1,969.56 Qubix Business Park Private Limited 51.18 53. 16 54.30 104.34 108.45 214.43 Oxygen Business Park Private Limited 241.08 246.69 263.79 487.77 491.07 1,003.51 Earnest Towers Private Limited 4.55 5.33 2.30 9.88 9.56 14.37 Vikhroli Corporate Park Private Limited 111.43 110.75 116.00 222.18 224.87 450.14 Galaxy Square Private Limited 58.44 60.44 65.20 118.88 131.14 258.42 Umbel Properties Private Limited 43.55 44.47 53.73 88.02 107.19 206.44 Indian Express Newspapers (Mumbai) Private Limited 57.10 62.55 72.33 119.65 145.33 279.50 Embassy Energy Private Limited 109.88 109.73 109.02 219.61 217.76 436.73 Sarla Infrastructure Private Limited 183.66 187. 71 197.79 371.37 396.17 789.71 Embassy Construction Private Limited 158.70 142.1 3 32.43 300.83 59.82 169.17 ESNP Property Builders and Developers Private Limited 386.77 350.82 246.31 737.59 469.48 1,041.15 Eleanor Realty Holdings India Private Limited 70.52 69.76 - 140.28 - 21.45 Vikas Telecom Private Limited 573.04 559.32 448.99 1,132.36 5 95.51 1,799.24 Issue expenses of borrowings Axis Bank Limited - 1.18 - 1.18 - - Expenses incurred by the Trust on behalf of related party Vikas Telecom Private Limited 10.79 4.81 3.36 15.60 3.36 50.58 Manyata Promoters Private Limited 17.62 2.4 5 (4.33) 20.07 1.59 26.68 Others 20.72 5.49 6.60 26.21 6.60 41.03 Reimbursements of expenses Manyata Promoters Private Limited - - - - 50.00 50.00 Axis Trustee Services Limited 2.19 0.08 3.56 2.27 3.56 5.02 Others 0.09 - - 0.09 - - Distribution paid Embassy Property Development Private Limited 457.08 472.60 421.30 929.68 833.20 1,769.36 Page 17
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Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 11 Statement of Related party disclosures (continued) II Transactions during the period / year (continued) Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Legal and professional fees Embark Services Private Limited 8.40 - - 8.40 - - Guarantee given by SPV on behalf of REIT Manyata Promoters Private Limited 10,000.00 - - 10,000.00 10,000.00 10,000.00 Manyata Promoters Private Limited and Earnest Towers Private Limited - - - - - 14,000.00 Oxygen Business Park Private Limited - - - - 10,000.00 10,000.00 Vikas Telecom Private Limited - - - - - 20,000.00 Corporate guarantee released Sarla Infrastructure Private Limited 3,000.00 - - 3,000.00 - - Earnest Towers Private Limited and Galaxy Square Private Limited - - 10,500.00 - 10,500.00 10,500.00 Vikas Telecom Private Limited - - 10,000.00 - 10,000.00 10,000.00 Indian Express Newspapers (Mumbai) Private Limited and Embassy Pune TechZone Private Limited - - 5,000.00 - 5,000.00 5,000.00 * During the half year ended 30 September 2026, Embassy REIT has sponsored (through provision of hospitality services) Rs.1.75 million to RBS Rugby Sports Private Limited. (this space is intentionally left blank) Page 18
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11 Statement of Related party disclosures (continued) III Closing balances Particulars As at 30 September 2026 As at 30 September 2025 Long term loan receivable Quadron Business Park Private Limited 6,505.72 6,260.25 Embassy Pune TechZone Private Limited 6,616.02 6,986.49 Manyata Promoters Private Limited 14,334.07 12,657.76 Qubix Business Park Private Limited 1,691.09 1,788.27 Oxygen Business Park Private Limited 7,955.96 8,136.30 Earnest Towers Private Limited 362.86 46.99 Vikhroli Corporate Park Private Limited 3,659.63 3,820.41 Galaxy Square Private Limited 1,905.67 2,161.29 Umbel Properties Private Limited 1,431.99 1,746.78 Indian Express Newspapers (Mumbai) Private Limited 1,831.42 2,35 2.97 Embassy Energy Private Limited 3,589.32 3,584.36 Sarla Infrastructure Private Limited 6,181.04 6,682.30 Embassy Construction Private Limited 5,561.74 1,193.84 ESNP Property Builders and Developers Private Limited 13,232.10 8 ,387.81 Eleanor Realty Holdings India Private Limited 2,370.95 - Vikas Telecom Private Limited 17,248.61 12,644.43 Short term loan receivable Manyata Promoters Private Limited 5,282.73 4,479.00 Oxygen Business Park Private Limited - 780.00 Quadron Business Park Private Limited 777.00 - Vikas Telecom Private Limited 1,287.65 3,267.59 ESNP Property Builders and Developers Private Limited 250.27 450.00 Other receivables Embassy Pune TechZone Private Limited 6.69 5.79 Golflinks Software Park Private Limited 1.73 2.71 Manyata Promoters Private Limited 18.28 8.84 Vikas Telecom Private Limited 17.93 3.96 Embassy Energy Private Limited 5.36 0.42 Others 14.27 7.99 Other financial liabilities Manyata Promoters Private Limited 0.17 0.01 Quadron Business Park Private Limited 2.73 2.18 Embassy Office Parks Management Services Private Limited 78.29 64.86 Trade payables Embassy Office Parks Management Services Private Limited 70.68 0.16 Embark Services Private Limited 9.07 - Embassy Shelters Private Limited 0.10 0.11 RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 19
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RN: IN/REIT/17-18/0001 Embassy Office Parks REIT Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 11 Statement of Related party disclosures (continued) III Closing balances (continued) Particulars As at 30 September 2026 As at 30 September 2025 Investment in Debentures (Non-current) Golflinks Software Park Private Limited 5,934.20 6,539.25 Investment in Debentures (Current) Golflinks Software Park Private Limited 605.06 555.91 Investment in equity shares of subsidiaries Umbel Properties Private Limited 2,841.67 2,841.67 Quadron Business Park Private Limited * 6,626.89 6,626.89 Embassy Energy Private Limited * - - Embassy Pune TechZone Private Limited 12,083.50 12,083.50 Manyata Promoters Private Limited 99,475.27 99,475.27 Qubix Business Park Private Limited 5,595.08 5,595.08 Oxygen Business Park Private Limited 12,308.89 12,308.89 Earnest Towers Private Limited 10,590.24 10,590.24 Vikhroli Corporate Park Private Limited 10,710.94 10,710.94 Indian Express Newspapers (Mumbai) Private Limited 13,210.96 13,210. 96 Galaxy Square Private Limited 4,662.50 4,662.50 Vikas Telecom Private Limited 50,695.45 50,695.45 Sarla Infrastructure Private Limited 6,870.02 6,870.02 Embassy Construction Private Limited 64.66 64.66 ESNP Property Builders and Developers Private Limited 120.06 120.06 Eleanor Realty Holdings India Private Limited ** 6,013.09 - Guarantee given by SPV on behalf of REIT Manyata Promoters Private Limited 41,000.00 31,000.00 Manyata Promoters Private Limited and Earnest Towers Private Limited 14,000.00 - Oxygen Business Park Private Limited 10,000.00 10,000.00 Qubix Business Park Private Limited 3,250.00 3,250.00 Quadron Business Park Private Limited and Sarla Infrastructure Private Limited 5,000.00 5,000.00 Sarla Infrastructure Private Limited - 3,000.00 Vikas Telecom Private Limited 20,000.00 - ** refer note 18 Note : Outstanding balances at the period end, arising from transactions with related parties under ordinary course of the business, are unsecured and settlement occurs in cash as per agreed terms. * Net of provision for impairment totalling Rs.7,795.16 million (30 September 2025 : Rs.7,795.16 million). Page 20
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12 13 14 15 16 17 18 Particulars Amount (in million) Investment Property 8,520.00 Cash & Cash Equivalents 25.36 Other Assets 34.54 Less: Borrowings (2,207.40) Less: Other Liabilities (714.90) Total Purchase Consideration 5,657.60 Add: Transaction cost 355.49 Gross purchase consideration 6,013.09 19 Notes to unaudited Standalone Financial Results for the quarter and half year ended 30 September 2026 RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Embassy Office Parks REIT Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 The Trust has subsidiaries namely Manyata Promoters Private Limited (‘MPPL'), Umbel Properties Private Limited (‘UPPL'), Embassy Energy Private Limited (‘EEPL’), Galaxy Square Private Limited (‘GSPL'), Quadron Business Park Private Limited ( ‘QBPL'), Qubix Business Park Private Limited (‘QBPPL'), Oxygen Business P ark Private Limited (‘OBPPL'), Earnest Towers Private Limited (‘ETPL'), Vikhroli Corporate Park Private Limited (‘VCPPL'), Indian Express Newspapers (Mumbai) Priva te Limited (‘IENMPL'), Embassy Pune Techzone Private Limited ('EPTPL'), Vi kas Telecom Private Limited ('VTPL'), Sarla In frastructure Private Limited ('SIPL'), Embassy Construction Private Limited ('ECPL'), ESNP Property Builders and Developers Private Limited ( 'ESNP') and Eleanor Realty Holdings India Private Limited (ERHIPL) (w.e. f 02 March 2026) (individually referred to as ‘Special Purpose Vehicle’ or ‘SPV’) and a Joint Venture namely Golflinks Software Park Private Limited ('GLSP') (also r eferred to as the Investment Entity). The SPV's are companies domiciled in India. The unaudited standalone financial results have been reviewed by the Audit Committee and approved for issue in accordance with resolution passed by t he Board of Directors of the Manager on behalf of the Trust on 28 October 2026. Asset acquisition of Eleanor Realty Holdings India Private Limited The Trust had acquired 100% of the equity share capital of ERHIPL compri sing 100,000 fully paid-up equity shares of Rs.10 each and 17,90,000 compulsor ily convertible debentures (CCDs) of Rs. 100 each from TechPark Holdings Pte. Ltd. and Futura Techpark Private Limited. The Trust also incurred directly attributabl e expenses in relation to the asset acquisition, amounting to Rs.355.49 million. These CCD's have been subsequently converted into equity shares as per the conver sion ratio (1 equity share for every 10 CCDs). The price payable for acquisition of equity shares of ERHIPL was funded entirely through the sale proceeds of 2 strata blocks at MPPL as mentioned in not e1 9a n d internal accruals. Survey proceedings under section 133A of the Income Tax Act was conducted from 28 July 2025 to 30 July 2025 on the Trust and GLSP. No further communicatio nh a s been received in this regard as of date. The unaudited Standalone financial results have been prepared in accordance with recognition and measurement principles laid down in Indian Accoun ting Standard (Ind AS) 34 “Interim Financial Reporting” as defined in Rule 2(1)(a) of the Co mpanies (Indian Acc ounting Standards) Rules, 2015 (as amended), to the extent not inconsistent with the SEBI (Real Estate Investment Trusts) Regulations, 2 014 as amended from time to time including any guidelines and circulars iss ued there under read with SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (the “REIT regulations’), other accounting principles gen erally accepted in India and read with REIT Regulations The unaudited Standalone financial results for the quarter and half year ended 30 September 2026 have been subjected to review by Statutory Auditors o f the Trust and they have issued an unmodified report on the above results. In accordance with SEBI master circular no. SEBI/HO/DDHS-PoD-2 /P/CIR/2025/99 dated 11 July 2025 w.e.f 1 April 2025, Embassy O ffice Parks REIT along with its SPVs, subject to applicable provisions in the Companies Act, 2013, needs to ensure that minimum 90% distribution of NDCF be met for a given financial year on a cumulative periodic basis. The distributions shall be declared and paid once every quarter in every financial year. The aforesaid net distributable cash flows are made available to Embassy O ffice Parks REIT in the form of (i) Interest paid on Shareholder Debt provided by E mbassy Office Parks REIT to the SPV’s/Holding Company, (ii) Principal repayment of Shareholder Debt and (iii) Dividend declared by the SPVs/Holding Company. During the previous year ended 31 March 2026, E mbassy REIT entered into share purchase agreements with TechPark Holdings Pte. Ltd. and Futura Techpark Private Limited (collectively referred to as "Sellers") for acquisition of Eleanor Re alty Holdings India Private Limite d (“ERHIPL”), which owns and operat es a 292,500 sq. ft. commercial office building ("Pinehurst") for an enterprise value of Rs.8,520 million. The acquisition was effected on 02 March 2026 (“Acquisition Date”). The Board of Directors of the Manager in their meeting held on 31 July 2025 had approved sale of two strata blocks at MPPL in Bengaluru aggregating 375,73 6 sf for a consideration of Rs.5,300 million on a slump sale basis and accordingly the Tru st had entered into a Business Transfer Agreement dated 31 July 2025. Du ring the previous year a sale deed dated 22 December 2025 was entered and the consider ation was received. The Management has utilised the sale proceeds for acqu isition of ERHIPL as referred in note no. 18. ERHIPL is engaged in the business of development and leasing of commercial space. Major asset pool of this SPV comprise of investment property. The gross purchase consideration was as follows: The Trust had obtained two independent valuation reports as required by the REIT regulations for the above acquisition and the average of the two valua tions amounts to Rs. 8,528.12 million. The valuation approach adopted by both the valuer is Discounted cash flow method. Acquisition consideration was at 0.1% discount to average of two independent valuation reports. No fees or commission was paid to the Manager in relation to the transaction. All the material conditions and oblig ations for the transaction were complied. Of the gross purchase consideration, an amount of Rs.56.04 million was held back in a separate escrow account subject to satisfaction of certain condi tions and timelines agreed between them. Further, during the quarter ended 30 Septembe r 2026, on actualisation of consideration and satisfaction of the agree d conditions, the holdback amount and an additional amount of Rs.51.50 million total amounting to Rs.107.54 million has been paid to the Sellers. Page 21
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RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Embassy Office Parks REIT Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 20 21 22 for and on behalf of the Board of Directors of Embassy Office Parks Management Services Private Limited (as Manager to Embassy Office Parks REIT) Jitendra Virwani Amit Shetty Abhishek Agrawal Director DIN: 00027674 Place: Bengaluru Place: Bengaluru Place: Bengaluru Date: 28 October 2026 Date: 28 October 2026 Date: 28 October 2026 a) SEBI had issued a show cause notice dated May 30, 2025 to Embassy Office Parks Management Services Private Limited ('EOPMSPL' or 'the Manager') and Axis Trustee Services Limited ('Trustee') of Embassy REIT in connection with an order passed by the National Financial Reporting Authority (“NFRA Order”) agains t, inter-alia, the erstwhile Chief Executive Officer of the Company, Mr. Aravind Maiya and in respect of certain delays in disclosures related to NFRA Order and not ensur ing proper compliance with the SEBI REIT Regulations. The Manager filed a settlement application. Following a demand notice from SEBI on October 13, 2025, the Manager remitted the settlement amount on October 16, 2025. SEBI subsequently issued a Settlement Order on November 17, 2025 and concluded the proceedings. b) SEBI sought comments from the Manager of Embassy REIT pursuant to complaints sent by unitholders to SEBI regarding certain transactions. The Manag er has provided the requisite responses to SEBI. c) SEBI had also sought comments from the Manager of Embassy REIT pursuant to a complaint received from Sterling and Wilson Renewable Energy Limited (S WREL) in connection with certain unpaid amounts alleged to be due from E mbassy-Energy Private Limited, an SPV of Embassy REIT and also alleged non-compliance with SEBI REIT Regulations with respect to 'fit and proper' criteria and non-disclosure of material information in connection with the civil and criminal liti gation matters pending before various judicial authorities and asking to take regulatory action. The Manager had provided the requisite response to SEBI. SWREL raised a com plaint on the SEBI SCORES portal of Embassy REIT on 14 July 2025, regarding the same matter. Embassy REIT has responded, and the complaint was disposed on the SEBI SCORES portal. Based on Management’s assessment, the Trust does not expect the outcome of these proceedings to have any significant/adverse effect on its financial position. Chief Executive Officer Chief Financial Officer SEBI also issued an interim order cum show cause notice dated November 04, 2024 (“Order”) to the Manager in connection with NFRA Order. The Manager has filed a settlement application with SEBI in relation to the Order on December 06, 2024, and the matter is currently outstanding. d) Certain Unitholders also raised complaints regarding the subject matter referred in point ‘c’ above, pursuant to which SEBI sought comments from t he Manager of Embassy REIT, and the Manager has provided requisite responses to SEBI. One of these Unitholders had during the previous year ended 31 March 2026, also raised a SCORES complaint regarding compliance with ‘fit and proper’ criteria by certain directors of the Manager and the Sponsor, as well as related disclosu res. The Manager responded to the complaint, and it was closed on July 30, 2026. Two out of the above unitholders have separately filed a writ petition before the High Cou rt of Bombay, seeking directions against the Sponsors and certain directors on the above matter and directing SEBI to initiate regulatory action against the afore mentioned persons including the Manger and Trustee of Embassy REIT. The matter is currently pending. The Trust has only one class of Units. Each Unit represents an undivided beneficial interest in the Trust. Each holder of Units is entitled to one vote pe r unit. The Unitholders have the right to receive at least 90% of the Net Distributable Cash Flows of the Trust at least once in every six months in each financial yea r in accordance with the REIT Regulations. The Board of Directors of the Manager approves distributions to Unitholders. The distribution will be in proportion to the number of Units held by the Unitholders. The Trust declares and pays distributions in Indian Rupees. Notes to unaudited Standalone Financial Results for the quarter and half year ended 30 September 2026 (continued) On July 30, 2026, the Manager received an advisory letter from SEBI dated July 29, 2026 in respect of a complaint received from SWREL and other related un itholder complaints. Subsequent to the Balance Sheet date, the Trust has acquired 8,048 sq.ft of saleable area on the ground floor of First International Financial Centre, Mumbai ("Premises") from Citi Group Global Markets India Private Limited ("Seller") for a purchase consideration of Rs. 482.88 million. Acquisition of commercial premise at FIFC In accordance with Ind AS 10 - Events after the Reporting period, this transaction represents a non-adjusting event. Consequently, no adjustment is r equired to be made to the Condensed Financial results for the period ended 30 September 2026. Under the provisions of the REIT Regulations, Embassy Office Parks REIT is required to distribute to Unitholders not less than 90% of the net distribut able cash flows of Embassy Office Parks REIT for each financial year. Accordingly, a portion of the Unitholders’ funds contains a contractual obligation of the Trust to pay cash to the Unitholders. Thus, in accordance with the requirements of Ind AS 32 – Financial Instruments: Presentation, the Unit Capital should have been classif ied as compound financial instrument which contains both equity and liability components. However, Paragragh 4.2.3 of Chapter 4 of the SEBI master circular no. SEBI /HO/DDHS-PoD- 2/P/CIR/2025/99 dated 11 July 2025 issued under the REIT Regulations, require the Unit Capital in entirety to be presented/classified as “Equity”, w hich is at variance from the requirements of Ind AS 32. In order to comply with the aforesaid SEBI requirements, the Embassy Office Parks REIT has presented unit capital as equity in these financial results. Consistent with Unitholders’ funds being classified as equity, the distributions to Unitholders in the form of interest and divi dend is presented in Statement of Changes in Unitholders' Equity and distribution to Unitholder in the form of repayment of capital is presented as a seperate line item on f ace of Statement of Assets and Liabilities and not as finance cost. In line with the above, the dividend payable to Unitholders is recognised as liability when the distributions are approved by the Board of Directors of the Investment Manager. Page 22 JITENDRA MOHANDA S VIRWANI Digitally signed by JITENDRA MOHANDAS VIRWANI Date: 2026.10.28 14:39:32 +05'30' MOLAHALLI AMIT VIKRAM SHETTY Digitally signed by MOLAHALLI AMIT VIKRAM SHETTY Date: 2026.10.28 14:40:22 +05'30' Abhishek Agrawal Digitally signed by Abhishek Agrawal Date: 2026.10.28 14:42:03 +05'30'
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12th Floor “UB City” Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000 S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 Independent Auditor's Review Report on the Quarterly and Half Yearly Consolidated Unaudited Financial Results of the Trust Pursuant to Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 as amended T o The Board of Directors of Embassy Office Parks Management Services Private Limited (“the Manager”) (Acting in its capacity as the Manager of Embassy Office Parks REIT) 12th Floor, Pinnacle Tower, Embassy One, 8 Bellary Road, Ganganagar, R T Nagar, Bengaluru -560032 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Embassy Office Parks REIT (“the REIT”), its subsidiaries and a joint venture (the REIT, i ts subsidiaries and a joint venture) (together referred to as “the Group”) for the quarter and half year ended September 30, 2026 (“the Statement”), being submitted by Embassy Office Parks Management Services Private Limited (“the Manager”) pursuant to the requirement of Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended, including any guidelines and circulars issued thereunder (together referred as the “REIT Regulations”). 2. This Statement, which is the responsibility of the Manager’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), specified under Companies (Indian Accounting Standards) Rules, 2015, as amended, to the extent not inconsistent with REIT Regulations, other accounting principles generally accepted in India and read with REIT Regulations. The Statement has been approved by the Board of Directors of the Manager. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether th e Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of Manager personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We have also performed procedures as required by regulation 13(5) of the REIT Regulations, as amended, to the extent applicable. Appendix II
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Chartered Accountants 4. The Statement includes the results of the following entities: Sl. No Name of the entities A Parent Entity 1 Embassy Office Parks REIT B Subsidiaries 1 Manyata Promoters Private Limited 2 Umbel Properties Private Limited 3 Embassy-Energy Private Limited 4 Galaxy Square Private Limited 5 Quadron Business Park Private Limited 6 Qubix Business Park Private Limited 7 Oxygen Business Park Private Limited 8 Earnest Towers Private Limited 9 Vikhroli Corporate Park Private Limited 10 Indian Express Newspapers (Mumbai) Private Limited 11 Embassy Pune Techzone Private Limited 12 Vikas Telecom Private Limited 13 Sarla Infrastructure Private Limited 14 Embassy Construction Private Limited 15 ESNP Property Builders and Developers Private Limited 16 Eleanor Realty Holdings India Private Limited C Jointly Controlled entity 1 Golflinks Software Park Private Limited 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard to the extent not inconsistent with REIT Regulations, other accounting principles generally accepted in India and read with REIT Regulations, has not disclosed the information required to be disclosed in terms of REIT Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
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Chartered Accountants 6. a) We draw attention to note (iv) of Statement of Commitments and Contingencies to the Statement which refers to the uncertainty in relation to a case pending with High Court of Karnataka, as regards property tax demand of Rs. 2,739.49 million as at September 30, 2026, in Manyata Promoters Private Limited. Based on legal opinion obtained by the Group and pending outcome of such legal matter no provision has been made in the Statement. b) We draw attention to note 7(viii) of the Statement which describes the presentation/classification of "Unit Capital" as "Equity" in order to comply with the mandatory requirements of the relevant REIT Regulations, instead of the applicable requirements of Ind AS 32 – Financial Instruments: Presentation. Our conclusion is not modi fied in respect to the above matters. 7. We did not review the financial results included in the Statement in respect of: a) 1 subsidiary, whose unaudited financial information include total assets of Rs. 14,900.44 million as at September 30, 2026, total revenues of Rs. 695.25 million and Rs. 1,386.08 million, total net profit after tax of Rs. 307.47 million and Rs. 389.88 million and total comprehensive income of Rs. 307.47 million and Rs. 389.88 million for the quarter ended September 30, 2026 and the half year ended on that date respectively, and net cash inflows of Rs. 76.79 million for the period from April 1, 2026 to September 30, 2026 as considered in the Statement which has been reviewed by their independent auditor. b) 1 joint venture, whose unaudited financial information include the Group's share of net profit after tax of Rs. 534.65 million and Rs. 854.16 million and Group share of total comprehensive income of Rs. 534.65 million and Rs. 854.16 million for the quarter ended September 30, 2026 and the half year ended on that date respectively, as considered in the Statement which has been reviewed by their independent auditor. These independent auditor's review reports on unaudited financial information of these entities have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and procedures performed by us as stated above. For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Nikunj Jayendra Shah Partner Membership No.: 222345 UDIN: 26222345HDAJKP7972 Place: Bengaluru, India Date: October 28, 2026 Digitally signed by NIKUNJ JAYENDRA SHAH DN: cn=NIKUNJ JAYENDRA SHAH, c=IN, o=Personal Date: 2026.10.28 15:24:56 +05'30' NIKUNJ JAYENDRA SHAH
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(all amounts in Rs. million unless otherwise stated) Sr.No Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Income and gains Revenue from operations 13,026.34 12,408.12 11,244.13 25,434.46 21,841.99 45,823.56 Other income 158.54 191.96 312.14 350.50 522.45 934.88 (I) Total Income 13,184.88 12,600.08 11,556.27 25,784.96 22,364.44 46,758.44 Expenses Cost of materials consumed 133.16 97.81 107.07 230.97 217.11 468.42 Employee benefits expense (refer note 7(xiv)) 234.94 201.23 159.91 436.17 336.21 673.53 Operating and maintenance expenses 1,698.94 1,474.77 1,449.16 3,173.71 2,829.78 5,855.26 Other expenses* 1,159.93 1,042.21 846.51 2,202.14 1,567.87 3,738.89 (II) Total Expenses 3,226.97 2,816.02 2,562.65 6,042.99 4,950.97 10,736.10 (III) Earnings before share of profit of equity accounted investee, finance costs, depreciation, amortisation, exceptional item and tax (I-II) 9,957.91 9,784.06 8,993.62 19,741.97 17,413.47 36,022.34 (IV) Finance costs (net) 4,129.69 4,001.45 3,841.91 8,131.14 7,560.28 14,950.42 (V) Depreciation expense 3,009.51 3,037.23 2,449.24 6,046.74 4,835.14 11,229.56 (VI) Amortisation expense 55.89 55.89 509.48 111.78 1,019.09 1,428.29 (VII) Profit before share of profit of equity accounted investee, exceptional item and tax 2,762.82 2,689.49 2,192.99 5,452.31 3,998.96 8,414.07 (VIII) Share of profit after tax of equity accounted investee 522.96 310.21 330.69 833.17 597.20 1,151.51 (IX) Profit before exceptional item and tax (VII+VIII) 3,285.78 2,999.70 2,523.68 6,285.48 4,596.16 9,565.58 (X) Exceptional item (refer note 7(xi)) - - - - - 1,770.13 (XI) Profit before tax (IX+X) 3,285.78 2,999.70 2,523.68 6,285.48 4,596.16 11,335.71 (XII) Tax expenses Current tax 320.86 674.11 506.47 994.97 1,038.95 2,791.57 Deferred tax charge/(credit) (74.63) 373.41 (304.58) 298.78 (316.27) (763.48) Deferred tax charge/(credit) - Exceptional item (refer note 7(vi)) (5,270.59) - - (5,270.59) - 5,922.17 (5,024.36) 1,047.52 201.89 (3,976.84) 722.68 7,950.26 (XIII) Profit for the period/year (XI-XII) 8,310.14 1,952.18 2,321.79 10,262.32 3,873.48 3,385.45 (XIV) Other comprehensive income (i) Items that will not be reclassified subsequently to statement of profit or loss - Gain/ (loss) on remeasurement of defined benefit liability - - - - - (14.92) (ii) Income tax relating to items that will not be reclassified to profit or loss - - - - - 5.16 Total Other comprehensive income for the period/year - - - - - (9.76) (XV) Total comprehensive income attributable to Unitholders for the period/year (XIII+XIV) 8,310.14 1,952.18 2,321.79 10,262.32 3,873.48 3,375.69 Earnings per Unit Basic, attributable to the Unitholders of the Trust (in Rs. per unit)** 8.77 2.06 2.45 10.83 4.09 3.57 Diluted, attributable to the Unitholders of the Trust (in Rs. per unit)** 8.77 2.06 2.45 10.83 4.09 3.57 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 ** Includes impact of reinstatement of MAT credits, net of deferred tax, amounting to Rs.5,270.59 million. Refer note 7(vi). *refer note 7(x). Statement of unaudited Consolidated Financial Results for the quarter and half year ended 30 September 2026 Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Page 1
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- - (all amounts in Rs. million unless otherwise stated) Particulars As at 30 September 2026 As at 30 September 2025 (Unaudited) (Unaudited) ASSETS Non-current assets Property, plant and equipment 27,482.53 25,332.06 Capital work-in-progress 5,566.83 4,485.14 Investment properties 340,208.38 323,673.31 Investment properties under development 12,286.58 18,587.38 Goodwill 61,246.38 61,246.38 Other intangible assets 5,065.82 5,577.73 Investments accounted for using equity method 22,257.79 22,511.61 Financial assets - Investments 5,934.20 6,539.25 - Other financial assets 7,303.71 6,769.41 Deferred tax assets (net) - 141.89 Non-current tax assets (net) 865.03 432.32 Other non-current assets 3,622.83 3,068.12 Total non-current assets 491,840.08 478,364.60 Current assets Inventories 40.98 42.23 Financial assets - Investments 828.28 708.35 - Trade receivables 1,107.40 865.85 - Cash and cash equivalents 19,639.73 8,445.67 - Other bank balances 56.60 75.03 - Other financial assets 2,778.36 2,099.03 Other current assets 1,693.71 1,284.97 Assets held for sale* - 3,493.56 Total current assets 26,145.06 17,014.69 Total assets 517,985.14 495,379.29 EQUITY AND LIABILITIES EQUITY Unit capital 288,262.11 288,262.11 Distribution – Repayment of Capital (79,434.72) (61,339.43) Other equity (2,905.81) (6,319.43) Total equity 205,921.58 220,603.25 LIABILITIES Non-current liabilities Financial liabilities - Borrowings 176,858.12 170,435.58 - Lease liabilities 1,366.77 1,416.07 - Other financial liabilities 7,584.77 7,149.79 Provisions 21.56 7.93 Deferred tax liabilities (net) 36,493.51 35,516.39 Other non-current liabilities 1,126.37 1,525.19 Total non-current liabilities 223,451.10 216,050.95 Current liabilities Financial liabilities - Borrowings 66,669.76 38,802.93 - Lease liabilities 104.53 67.41 - Trade payables - total outstanding dues of micro enterprises and small enterprises 165.04 124.17 - total outstanding dues of creditors other than micro enterprises and small enterprises 693.33 735.50 - Other financial liabilities 17,691.60 16,341.42 Other current liabilities 3,185.66 2,023.41 Provisions 16.17 17.30 Current tax liabilities (net) 86.37 181.25 Liabilities directly associated with assets held for sale* - 431.70 Total current liabilities 88,612.46 58,725.09 Total equity and liabilities 517,985.14 495,379.29 * refer note7(xi) Statement of unaudited Consolidated Assets and Liabilities Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 2
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(all amounts in Rs. million unless otherwise stated) Particulars For the half year ended 30 September 2026 For the half year ended 30 September 2025 (Unaudited) (Unaudited) Cash flow from operating activities Profit before share of profit of equity accounted investee and tax 5,452.31 3,998.96 Adjustments to reconcile profit before share of profit equity accounted investee and tax to net cash flows: Depreciation expense 6,046.74 4,835.14 Amortisation expense 111.78 1,019.09 Assets and other balances written off - 1.12 Bad debts written off 0.34 0.20 (Gain) on sale of property, plant and equipment/ investment properties (net) (8.31) (4.98) Allowances for credit loss 1.12 26.40 Liabilities no longer required written back - (0.28) Profit on sale of mutual funds (90.16) (220.56) Finance costs (net) 8,131.14 7,560.28 Interest income (229.14) (263.63) Net gain on fair value changes in financial instruments (2.00) (2.99) Operating profit before working capital changes 19,413.82 16,948.75 Working capital adjustments - Inventories (1.39) 3.22 - Trade receivables (75.48) (38.44) - Other financial assets (current and non-current) 10.30 (763.55) - Other assets (current and non-current) (281.36) 351.49 - Trade payables (226.21) 327.58 - Other financial liabilities (current and non-current) 1,295.07 994.75 - Other liabilities and provisions (current and non-current) 263.50 387.45 Cash generated from operating activities before taxes 20,398.25 18,211.25 Taxes paid, net of refund (1,624.47) (953.25) Net cash flow generated from operating activities 18,773.78 17,258.00 Cash flow from investing activities Investment of deposits with banks (net) (89.24) (66.26) Redemption of mutual funds (net) 25.37 208.59 Redemption of debentures 283.83 260.81 Payment for purchase of investment properties, property, plant and equipment and intangibles including capital work- in-progress and investment properties under development (8,948.85) (9,041.49) Proceeds from sale of investment properties, property, plant and equipment and intangibles 8.31 8.15 Payment for acquisition including transaction costs (301.20) (3.57) Dividend received 685.00 600.00 Interest received 370.19 401.52 Net cash flow used in investing activities (7,966.59) (7,632.25) Cash flow from financing activities Interest paid (7,471.44) (7,593.87) Repayment of borrowings (35,001.04) (53,924.05) Proceeds from borrowings (net of issue expenses) 53,871.01 64,695.96 Cash used in distribution to Unitholders (12,142.37) (10,881.84) Payment of lease liabilities (120.27) (106.46) Net cash flow used in from financing activities (864.11) (7,810.26) Net increase in cash and cash equivalents 9,943.07 1,815.49 Cash and cash equivalents at the beginning of the period 9,696.66 6,630.18 Cash and cash equivalents at the end of the period 19,639.73 8,445.67 Components of cash and cash equivalents Cash in hand 2.15 2.00 Balances with banks - in current accounts 19,256.71 8,240.34 - in escrow accounts 380.87 193.33 - in fixed deposits - 10.00 19,639.73 8,445.67 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Consolidated Statement of Cash Flows Page 3
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(all amounts in Rs. million unless otherwise stated) A. Unit Capital No. in Million Amount Balance as on 1 April 2025 947.90 288,262.11 Changes during the period - - Balance as at 30 September 2025 947.90 288,262.11 Balance as on 1 April 2026 947.90 288,262.11 Changes during the period - - Balance as at 30 September 2026 947.90 288,262.11 B. Retained Earnings Debenture Redemption Reserve General reserve Total Balance as on 1 April 2025* (7,769.67) 1,520.00 - (6,249.67) (54,400.84) Add: Profit for the half year ended 30 September 2025 3,873.48 - - 3,873.48 - Add: Other Comprehensive Income for the half year ended 30 September 2025# - - - - - Less: Distribution to Unitholders during the half year ended 30 September 2025**^ (3,943.24) - - (3,943.24) (6,938.59) Less: Transfer to general reserve - (495.00) - (495.00) - Add: Transfer from debenture redemption reserve - - 495.00 495.00 - Balance as at 30 September 2025 (7,839.43) 1,025.00 495.00 (6,319.43) (61,339.43) Balance as on 1 April 2026 (12,128.81) 1,025.00 495.00 (10,608.81) (69,851.51) Add: Profit for the half year ended 30 September 2026 10,262.32 - - 10,262.32 - Add: Other Comprehensive Income for the half year ended 30 September 2026# - - - - - Less: Distribution to Unitholders during the half year ended 30 September 2026**^^ (2,559.32) - - (2,559.32) (9,583.21) Less: Transfer to general reserve - (1,025.00) - (1,025.00) - Add: Transfer from debenture redemption reserve - - 1,025.00 1,025.00 - Balance as at 30 September 2026 (4,425.81) - 1,520.00 (2,905.81) (79,434.72) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Consolidated Statement of Changes in Unitholder's Equity Particulars Other Equity Distribution - Repayment of Capital Reserves and Surplus The accumulated balance of re-measurements of defined benefit plans as at 30 September 2026 amounts to Rs.3.52 million (30 September 2025: Rs.13.28 million). * Opening balance of retained earnings is regrouped to comply with requirements under amendment to Chapter 4 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025. **The distributions made by Trust to its Unitholders consist of three comp onents. Distribution in the form of interest and dividend is part of retaine d earnings and repayment of capital is shown as a separate line item on the face of the balance sheet. ^ The distribution for half year ended 30 September 2025 does not include the distribution relating to the quarter ended 30 September 2025, as the same is paid subsequent to the half year ended 30 September 2025. ^^ The distribution for half year ended 30 September 2026 does not include the distribution relating to the quarter ended 30 September 2026, as the same will be paid subsequent to the half year ended 30 September 2026. # Other comprehensive income comprises of gain/ (loss) on remeasurements of defined benefit liability (net) of Rs.Nil for the half year ended 30 September 2026 (30 September 2025: Rs.Nil). Page 4
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(all amounts in Rs. million unless otherwise stated) Sl No Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 1 Cashflows from operating activities of the Trust 1.43 (104.22) (150.07) (102.79) (249.72) (534.74) 2 Add: Cash flows received from SPV’s/ Investment entities which represent distributions of NDCF computed as per relevant framework (refer note 2) 9,269.40 8,515.73 8,442.56 17,785.13 15,797.51 32,642.32 3 Add: Treasury income / income from investing activities of the Trust (interest income received from FD, any investment entities as defined in Regulation 18(5), tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) 1.58 0.88 0.76 2.46 2.04 4.86 4 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs/Holdcos or Investment Entity adjusted for the following - - - - - 5,562.14 • Applicable capital gains and other taxes - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - • Directly attributable transaction costs - - - - - - • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations - - - - - (5,562.14) 5 Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs/ HoldCos or Investment Entity not distributed pursuant to an earlier plan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently - - - - - - 6 Less: Finance cost on Borrowings as per Profit and Loss Account. However, amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid (2,567.65) (2,413.33) (2,116.72) (4,980.98) (3,862.82) (8,104.13) 7 Less: Debt repayment at Trust level (to include principal repayments as per scheduled EMI’sexcept if refinanced through new debt including overdraft facilities and to exclude any debt re payments / debt refinanced through new debt in any form or funds raised through issuance of units) - - - - - - 8 Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agr eement enter ed with financial institution, or (ii). terms and conditions, cove nants or any ot her stip ulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial bo rrowings availed by the Trust or any of its SPVs/ HoldCos, (iv). agreement pursuant to which the Trust operates or owns the real estate asset, or generates r evenue or cashflows from such asset (such as, concession agre ement, transm ission services agre ement, power pur chase agreeme nt, lease ag reement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; - - - - - - 9 Less: any capital expenditure on existing assets owned / leased by the REIT, to the extent not funded by debt / equity or from contractual reserves created in the earlier years - - - - - - NDCF at Trust Level 6,704.76 5,999.06 6,176.53 12,703.82 11,687.01 24,008.31 Note: 1. 2. The Board of Directors of the Manager to the Trust, in their meeting held on 28 October 2026, have declared distribution to Unitholders of Rs.7.07 per un it amounting to Rs. 6,701.61 million for the quarter ended 30 September 2026. The distribution of Rs. 7.07 per unit comprises Rs. 0.14 per unit in the form of interest payment, Rs. 0.86 per unit in the form of dividend and the balance Rs. 6.07 per unit in the form of repayment of debt. Along with distribution of Rs. 5,981.21 million/ Rs. 6.31 per unit for the quarter ended 30 June 2026, the cumulative distribution for the half year ended 30 September 2026 aggregates to Rs. 12,682.82 million/ Rs. 13.38 per unit. Rs. 8,170.39 million has been received post 30 September 2026, but before finalisation and adoption of the financial results by the Board of Directors . This is in compliance with the revised NDCF Framework pursuant to Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassy officeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Net Distributable Cash Flows (NDCF) of the Trust Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 Page 5
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Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (all amounts in Rs. million unless otherwise stated) For the quarter ended 30 September 2026 Sl No Particulars EPTPL MPPL EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP ERHIPL Total 1 Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV 293.41 3,996.33 221.44 156.76 280.79 197.97 313.79 597.34 163.97 182.07 436.47 2,060.10 362.08 77.03 294.14 140.52 9,774.21 Adjustment: 2 Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework (relevant in case of HoldCos) - - - - - - - - - - - - - - - - - 3 Add: Treasury income / income from investing activities (interest income received from FD, tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) 3.01 388.68 1.56 0.59 6.25 3.35 4.31 4.47 9.08 1.22 3.13 16.26 2.17 0.03 0.30 1.63 446.04 4 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs or Investment Entity adjusted for the following - - - - - - - - - - - - - - - - - • Applicable capital gains and other taxes - - - - - - - - - - - - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - - - - - - - - - - - - • Directly attributable transaction costs - - - - - - - - - - - - - - - - - • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations - - - - - - - - - - - - - - - - - 5 Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to re- invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently - - - - - - - - - - - - - - - - - 6 Less: Finance cost on Borrowings as per Profit and Loss Account excluding finance cost on any shareholder debt/loan from trust. The amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid - (718.89) - - - - - (29.99) (236.10) - - (290.06) - (8.08) (18.91) - (1,302.03) 7 Less: Debt repayment (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust ) - - - - - - - - - - - - - - - - - 8 Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; - - - - - - - - - - - - - - - 3.71 3.71 9 Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years - - - - - - - - - - - - - - - - - NDCF for HoldCo/SPV’s 296.42 3,666.12 223.00 157.35 287.04 201.32 318.10 571.82 (63.05) 183.29 439.60 1,786.30 364.25 68.98 275.53 145.86 8,921.93 - Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Net Distributable Cash Flows (NDCF) at each Asset SPV and HoldCo Distribution of atleast 90% of the above NDCF is required as per the REIT Regulations subject to compliance with the requirements of the Companies Act, 2013. Page 6
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Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (all amounts in Rs. million unless otherwise stated) For the quarter ended 30 June 2026 Sl No Particulars EPTPL MPPL EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP ERHIPL Total 1 Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV 381.40 2,962.53 195.46 85.89 322.48 217.79 468.95 609.54 195.17 161.14 380.09 2,107.46 391.84 27.84 446.61 148.17 9,102.36 Adjustment: 2 Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework (relevant in case of HoldCos) - - - - - - - - - - - - - - - - - 3 Add: Treasury income / income from investing activities (interest income received from FD, tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) 5.83 350.16 1.19 1.56 5.96 1.66 15 .81 4.01 1.79 0.91 3.20 12.12 5.46 1.21 0.08 0.90 411.85 4 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs or Investment Entity adjusted for the following - 8.31 - - - - - - - - - - - - - - 8.31 • Applicable capital gains and other taxes - - - - - - - - - - - - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - - - - - - - - - - - - • Directly attributable transaction costs - - - - - - - - - - - - - - - - - • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations - - - - - - - - - - - - - - - - - 5 Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to re- invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently - - - - - - - - - - - - - - - - - 6 Less: Finance cost on Borrowings as per Profit and Loss Account excluding finance cost on any shareholder debt/loan from trust. The amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid - (762.30) - - - - - (29.75) (232.86) - - (258.65) - (16.23) (34.28) - (1,334.07) 7 Less: Debt repayment (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust ) - - - - - - - - - - - - - - - - - 8 Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; - 2.37 - - - - 0.50 - - - 4.08 - - - - - 6.95 9 Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years - - - - - - - - - - - - - - - - - NDCF for HoldCo/SPV’s 387.23 2,561.07 196.65 87.45 328.44 219.45 485.26 583.80 (35.90) 162.05 387.37 1,860.93 397.30 12.82 412.41 149.07 8,195.40 - Distribution of atleast 90% of the above NDCF is required as per the REIT Regulations subject to compliance with the requirements of the Companies Act, 2013. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Net Distributable Cash Flows (NDCF) at each Asset SPV and HoldCo Page 7
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Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (all amounts in Rs. million unless otherwise stated) For the quarter ended 30 September 2025 Sl No Particulars EPTPL MPPL EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP Total 1 393.92 3,364.66 108.27 133.66 110.69 289.14 313.74 609.24 129.17 138.76 359.50 2,308.58 397.07 77.36 336.83 9,070.59 Adjustment: 2 - - - - - - - - - - - - - - - - 3 3.09 404.29 0.42 0.54 2.74 3.72 2.43 5.49 4.56 0.85 2.02 70.99 1.97 0.26 2.78 506.15 4 - - - - - - 0.77 - 0.56 - - - - - - 1.33 • Applicable capital gains and other taxes - - - - - - - - - - - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - - - - - - - - - - - • Directly attributable transaction costs - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5 - - - - - - - - - - - - - - - - 6 (0.01) (723.82) - - - - - (32.17) (234.04) - (0.15) (451.81) (0.13) (72.06) - (1,514.19) 7 - - - - - - - - - - - - - - - - 8 - - - - - - - - - - - - - - - - 9 - - - - - - - - - - - - - - - - 397.00 3,045.13 108.69 134.20 113.43 292.86 316.94 582.56 (99.75) 139.61 361.37 1,927.76 398.91 5.56 339.61 8,063.88 - Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; Less: Finance cost on Borrowings as per Profit and Loss Account excluding finance cost on any shareholder debt/loan from trust. The amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid Less: Debt repayment (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust ) NDCF for HoldCo/SPV’s Distribution of atleast 90% of the above NDCF is required as per the REIT Regulations subject to compliance with the requirements of the Companies Act, 2013. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs or Investment Entity adjusted for the following Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Net Distributable Cash Flows (NDCF) at each Asset SPV and HoldCo Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework (relevant in case of HoldCos) Add: Treasury income / income from investing activities (interest income received from FD, tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) Page 8
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Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (all amounts in Rs. million unless otherwise stated) For the half year ended 30 September 2026 Sl No Particulars EPTPL MPPL EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP ERHIPL Total 1 Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV 674.81 6,958.86 416.90 242.65 603.27 415.76 782.74 1,206.88 359.14 343.21 816.56 4,167.56 753.92 104.87 740.75 288.69 18,876.57 Adjustment: 2 Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework (relevant in case of HoldCos) - - - - - - - - - - - - - - - - - 3 Add: Treasury income / income from investing activities (interest income received from FD, tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) 8.84 738.84 2.75 2.15 12.21 5.01 20.12 8.48 10.87 2.13 6.33 28.38 7.63 1.2 4 0.38 2.53 857.89 4 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs or Investment Entity adjusted for the following - 8.31 - - - - - - - - - - - - - - 8.31 • Applicable capital gains and other taxes - - - - - - - - - - - - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - - - - - - - - - - - - • Directly attributable transaction costs - - - - - - - - - - - - - - - - - • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations - - - - - - - - - - - - - - - - - 5 Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to re- invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently - - - - - - - - - - - - - - - - - 6 Less: Finance cost on Borrowings as per Profit and Loss Account excluding finance cost on any shareholder debt/loan from trust. The amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid - (1,481.19) - - - - - (59.74) (468.96) - - (548.71) - (24.31) (53.19) - (2,636.10) 7 Less: Debt repayment (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust ) - - - - - - - - - - - - - - - - - 8 Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; - 2.37 - - - - 0.50 - - - 4.08 - - - - 3.71 10.66 9 Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years - - - - - - - - - - - - - - - - - NDCF for HoldCo/SPV’s 683.65 6,227.19 419.65 244.80 615.48 420.77 803.36 1,155.62 (98.95) 345.34 826.97 3,647.23 761.55 81.80 687.94 294.93 17,117.33 - Statement of Net Distributable Cash Flows (NDCF) at each Asset SPV and HoldCo Distribution of atleast 90% of the above NDCF is required as per the REIT Regulations subject to compliance with the requirements of the Companies Act, 2013. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 9
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Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (all amounts in Rs. million unless otherwise stated) For the half year ended 30 September 2025 Sl No Particulars EPTPL MPPL EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP Total 1 1,045.70 6,625.33 274.91 229.95 533.17 476.07 654.49 1,089.42 303.35 273.85 722.38 3,974.45 742.81 102.43 459.41 17,507.72 Adjustment: 2 - - - - - - - - - - - - - - - - 3 4.89 767.17 1.42 2.63 7.16 4.30 4.89 6.64 8.17 2.62 3.04 87.84 6.23 1.38 3.58 911.96 4 - 6.82 - - - - 0.77 - 0.56 - - - - - - 8.15 • Applicable capital gains and other taxes - - - - - - - - - - - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - - - - - - - - - - - • Directly attributable transaction costs - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5 - - - - - - - - - - - - - - - - 6 (5.70) (1,707.64) - - - - - (93.65) (378.21) - (1.47) (1,008.34) (0.13) (143.35) - (3,338.49) 7 - - - - - - - - - - - - - - - - 8 - - - - - - - - - - - - - - - - 9 - - - - - - - - - - - - - - - - 1,044.89 5,691.68 276.33 232.58 540.33 480.37 660.15 1,002.41 (66.13) 276.47 723.95 3,053.95 748.91 (39.54) 462.99 15,089.34 - Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years NDCF for HoldCo/SPV’s Distribution of atleast 90% of the above NDCF is required as per the REIT Regulations subject to compliance with the requirements of the Companies Act, 2013. • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently Less: Finance cost on Borrowings as per Profit and Loss Account excluding finance cost on any shareholder debt/loan from trust. The amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid Less: Debt repayment (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust ) Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; Statement of Net Distributable Cash Flows (NDCF) at each Asset SPV and HoldCo Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework (relevant in case of HoldCos) Add: Treasury income / income from investing activities (interest income received from FD, tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs or Investment Entity adjusted for the following Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 10
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Net Distributable Cash Flows (NDCF) pursuant to guidance under Chapter 3, Paragraph 3.19 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 (all amounts in Rs. million unless otherwise stated) For the year ended 31 March 2026 Sl No Particulars EPTPL MPPL EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP ERHIPL* Total 1 Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV 1,682.76 14,474.59 538.79 542.96 1,035.23 918.97 1,335.76 2,139.60 734.09 556.07 1,421.29 7,303.62 1,575.69 394.04 1,106.10 (7.50) 35,752.06 Adjustment: 2 Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework (relevant in case of HoldCos) - - - - - - - - - - - - - - - - - 3 Add: Treasury income / income from investing activities (interest income received from FD, tax refund, any other income in the nature of interest, profit on sale of Mutual funds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. Further clarified that these amounts will be considered on a cash receipt basis) 12.09 1,432.31 3.84 5.03 15.45 6.87 10.30 8.63 11.12 5.28 7.68 139.99 13.32 1.98 8.35 - 1,682.24 4 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs or Investment Entity adjusted for the following (refer note 7(xi)) - 5,579.17 - - - - 0.77 0.49 4.56 - 0.04 0.47 - - - - 5,585.49 • Applicable capital gains and other taxes - - - - - - - - - - - - - - - - - • Related debts settled or due to be settled from sale proceeds - - - - - - - - - - - - - - - - - • Directly attributable transaction costs - (10.21) - - - - - - - - - - - - - - (10.21) • Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations - - - - - - - - - - - - - - - - - 5 Add: Proceeds from sale of real estate investments, real estate assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to re- invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are not intended to be invested subsequently - - - - - - - - - - - - - - - - - 6 Less: Finance cost on Borrowings as per Profit and Loss Account excluding finance cost on any shareholder debt/loan from trust. The amortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid (5.71) (3,245.11) - - - - - (153.60) (826.52) - (1.47) (1,539.03) (0.13) (271.5 3) (9.91) (10.73) (6,063.74) 7 Less: Debt repayment (to include principal repayments as per scheduled EMI’s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust ) - - - - - - - - - - - - - - - - - 8 Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from such asset (such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations; - (3.17) - - - - (0.50) - - - (4.08) - - - - (3.71) (11.46) 9 Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years - - - - - - - - - - - - - - - - - NDCF for HoldCo/SPV’s 1,689.14 18,227.59 542.63 547.99 1,050.68 925.84 1,346.32 1,995.12 (76.75) 561.35 1,423.46 5,905.05 1,588.88 124.49 1,104.54 (21.94) 36,934.38 - - * refer note 7(xii) Distribution of atleast 90% of the above NDCF is required as per the REIT Regulations subject to compliance with the requirements of the Companies Act, 2013. Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Net Distributable Cash Flows (NDCF) at each Asset SPV and HoldCo Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Page 11
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Disclosure pursuant to guidance under Chapter 4, Paragraph 4.1.5 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 A) Statement of Net Assets at fair value (all amounts in Rs. million unless otherwise stated) S.No Particulars Unit of measurement Book Value Fair value Book Value Fair value A Assets Rs in millions 517,985.14 804,950.56 495,379.29 690,877.41 B Liabilities Rs in millions 312,063.56 307,548.54 274,776.04 268,206.49 C Net Assets (A-B) Rs in millions 205,921.58 497,402.02 220,603.25 422,670.92 D No. of units Numbers 947,893,743 947,893,743 947,893,743 947,893,743 E NAV (C/D) Rs 217.24 524.74 232.73 445.91 Notes: 1) Measurement of fair values: 2) Property wise break up of Fair value of Assets as at 30 September 2026 is as follows: Particulars Fair value of investment properties, investment properties under development, property, plant and equipment, capital work-in- progress and intangibles* Other assets at book value(***) (Note i) Total assets Total liabilities to be considered (Note ii) Asset wise NAV Book value of assets 285,699.19 12,433.87 298,133.06 58,527.03 239,606.03 149,656.35 26,030.59 519.69 26,550.28 1,428.30 25,121.98 20,941.79 8,817.10 301.88 9,118.98 629.28 8,489.70 4,430.40 4,450.15 509.73 4,959.88 135.33 4,824.55 3,823.17 11,793.74 216.07 12,009.81 600.04 11,409.77 6,286.02 19,889.87 711.51 20,601.38 716.22 19,885.16 9,728.07 30,452.48 761.54 31,214.02 3,792.05 27,421.97 17,951.70 10,372.34 262.05 10,634.39 415.94 10,218.45 8,805.08 25,566.32 1,826.86 27,393.18 13,468.58 13,924.60 21,656.58 25,664.67 283.55 25,948.22 948.89 24,999.33 12,473.21 26,571.77 192.37 26,764.14 1,204.21 25,559.93 15,586.40 179,610.12 6,087.05 185,697.17 31,928.48 153,768.69 116,818.46 8,335.43 251.29 8,586.72 2,934.47 5,652.25 7,766.40 24,983.13 1,189.52 26,172.65 8,659.11 17,513.54 21,746.63 8,813.08 154.75 8,967.83 448.33 8,519.50 8,720.90 - 45,043.42 45,043.42 181,712.28 (136,668.86) 69,336.19 697,049.98 70,745.15 767,795.13 307,548.54 460,246.59 495,727.35 37,155.43 - 37,155.43 - 37,155.43 22,257.79 734,205.41 70,745.15 804,950.56 307,548.54 497,402.02 517,985.14 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Valuation technique Total Investment in GLSP ** ^ refer note 7(xii) Trust VCPPL IENMPL ETV Assets ECPL ESNP ERHIPL OBPPL QBPPL QBPL EEPL GSPL ETPL UPPL As at 30 September 2026 As at 30 September 2025 The fair value of investment properties, investment properties under development (including capital advances); property, plant and equipment (re lating to the hotel property in UPPL, MPPL, ETV assets and QBPL, and the solar power plant in EEPL); capital work-in-progress (relating to proposed hotel to be developed i n ETV assets and in EPTPL); intangibles and investment in GLSP as at 30 September 2026 and 30 September 2025 has been determined by L. Anuradha, independent externa l registered property valuer appointed under Regulation 21 of REIT regulations, having appropriately recognised professional qualifications and r ecent experience in the location and category of the properties being valued in conjunction with value assessment services undertaken by Cushman & Wakefield. The fair value measurement for all the investment properties, investment properties under development, property plant and equipment, intangibles and capital work- in-progress has been categorized as a Level 3 fair value based on the inputs to the valuation technique used. The valuers have followed a Discounted Cash Flow method. The valuation model considers the present value of net cash flows to be generated from the resp ective properties, taking into account the expected rental growth rate, vacancy period, occupancy rate, average room rent, lease incentive costs and blend ed tariff rates. The expected net cash flows are discounted using the risk adjusted discount rates. Among other factors, the discount rate estimation considers the qu ality of a building and its location (prime vs secondary), tenant credit quality, lease terms, seasonality in sustaining a stable average room rent and occupancy for the hotels. 100% owned assets MPPL EPTPL Page 12
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Disclosure pursuant to guidance under Chapter 4, Paragraph 4.1.5 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 A) Statement of Net Assets at fair value (continued) 3) Property wise break up of Fair value of Assets as at 30 September 2025 is as follows: Particulars Fair value of investment properties, investment properties under development, property, plant and equipment, capital work-in- progress and intangibles* Other assets at book value (***) (Note i) Total assets Total liabilities to be considered (Note ii) Asset wise NAV Book value of assets 259,435.99 6,714.48 266,150.47 59,661.52 206,488.95 147,353.87 25,540.92 557.69 26,098.61 1,734.53 24,364.08 21,883.88 7,837.90 312.77 8,150.67 563.45 7,587.22 4,471.15 3,772.42 156.63 3,929.05 212.20 3,716.85 3,821.83 10,661.11 216.44 10,877.55 556.52 10,321.03 6,582.70 16,577.39 200.79 16,778.18 591.25 16,186.93 9,420.45 25,868.22 1,114.03 26,982.25 3,652.46 23,329.79 18,460.71 10,084.78 168.02 10,252.80 343.80 9,909.00 8,798.16 24,813.40 898.03 25,711.43 12,547.79 13,163.64 21,099.75 20,086.54 225.44 20,311.98 852.65 19,459.33 12,544.47 21,089.51 305.85 21,395.36 1,070.48 20,324.88 15,803.25 149,256.07 3,529.36 152,785.43 29,638.36 123,147.07 111,573.12 7,005.93 230.89 7,236.82 5,400.23 1,836.59 6,337.04 ESNP 17,684.22 1,447.47 19,131.69 8,106.11 11,025.58 17,238.41 - 41,044.93 41,044.93 143,275.14 (102,230.21) 67,478.89 599,714.40 57,122.82 656,837.22 268,206.49 388,630.73 472,867.68 34,040.19 - 34,040.19 - 34,040.19 22,511.61 633,754.59 57,122.82 690,877.41 268,206.49 422,670.92 495,379.29 (i) (ii) Fair value of liabilities considered for computing the NAV equals the book value of such liabilities, except in case where the outflow arising out of the liabilities have already been considered by the valuer while computing the fair value of assets or netted off with the corresponding assets. For the purpose of fair valuation of assets, the Embassy Office Parks Group has fair valued its investment properties, investment properties under de velopment (including capital advances), property, plant and equipment (relating to the hotel property in UPPL, MPPL, ETV assets and QBPL and the solar power pla nt in EEPL); capital work-in-progress (relating to the proposed hotel to be developed in ETV assets and EPTPL); intangibles and the investment in GLSP. ** Fair value of equity investments in GLSP has been done based on equity valuation method proportionate to stake held in GLSP. *** Other assets at book value include Goodwill of Rs.35,374.18 million (30 September 2025: Rs.33,524.26 million) on book value basis (net of impairm ent loss). The Goodwill mainly arises on account of requirement to value individual assets and liabilities acquired on business combination at fair values as well a st h e requirement to recognise deferred tax liability of Rs.35,374.18 million (30 September 2025: Rs.33,524.26 million), calculated as a difference bet ween the tax effect of the fair value of the acquired assets and liabilities and their tax bases. Goodwill has been restricted to the extent of deferred tax liability. Notes: Other assets at book value includes cash and cash equivalents, debt investments in GLSP and other working capital balances which are not factored in th e discounted cashflow method used in determining the fair value of investment properties, investment properties under development, property, plant and equipment, capital work-in-progress and intangibles. Trust IENMPL QBPPL GSPL EEPL Total Investment in GLSP ** * Fair values of investment properties, investment properties under development, property, plant and equipment, intangibles, capital work in prog ress and investment in GLSP as at 30 September 2026 and 30 September 2025 as disclosed above are solely based on the fair valuation report of L. Anuradha, indepen dent external registered property valuers appointed under Regulation 21 of REIT regulations, having appropriately recognised professional qualifica tions and recent experience in the location and category of the properties being valued in conjunction with value assessment services undertaken by Cushman & Wakefield. ETV Assets ECPL QBPL VCPPL ETPL OBPPL 100% owned assets MPPL EPTPL UPPL Page 13
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Disclosure pursuant to guidance under Chapter 4, Paragraph 4.1.5 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 B) Statement of Total Returns at Fair value (all amounts in Rs. million unless otherwise stated) S.No Particulars For the half year ended 30 September 2026 For the half year ended 30 September 2025 (Unaudited) (Unaudited) A Total comprehensive income 10,262.32 3,873.48 B 25,410.10 18,914.36 C (A+B) Total Return 35,672.42 22,787.84 Note: 1. Add: Changes in fair value not recognised in total comprehensive income (refer note below) In the above statement, changes in fair value for the half year ended 30 September 2026 and 30 September 2025 has been computed based on the difference in fair values of investment properties, investment properties under development, property, plant and equipment (relating to the hotel property in UP PL, MPPL, ETV assets and QBPL and the solar power plant in EEPL); capital work-in-progress (relating to the proposed hotel to be developed in ETV assets and EPTPL); i ntangibles and investment in GLSP as at 30 September 2026 as compared with the values as at 31 March 2026 net of cash spent on construction during the period. The fair values of the afore-mentioned assets as at 30 September 2026 and 30 September 2025 are solely based on the valuation report of L. Anuradha, independent external registered property valuers appointed under Regulation 21 of REIT regulations, having appropriately recognised professional qualifica tions and recent experience in the location and category of the properties being valued in conjunction with value assessment services undertaken by Cushman & Wakefield. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 14
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For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenue from operations 13,026.34 12,408.12 11,244.13 25,434.46 21,841.99 45,823.56 Less: Property tax (410.24) (616.86) (374.67) (1,027.10) (717.95) (1,745.45) Less: Repairs & Maintenance (1,103.17) (938.71) (951.13) (2,041.88) (1,858.82) (3,883.89) Less: Other direct operating expenses (817.97) (647.71) (645.21) (1,465.68) (1,274.52) (2,592.68) Net Operating Income (segment results for the period/year) 10,694.96 10,204.84 9,273.12 20,899.80 17,990.70 37,601.54 Less: Other operating expenses (895.59) (612.74) (591.64) (1,508.33) (1,099.68) (2,514.08) Add: Other income 158.54 191.96 312.14 350.50 522.45 934.88 Earnings before share of profit of equity accounted investee, finance costs, depreciation, amortisation, exceptional item and tax 9,957.91 9,784.06 8,993.62 19,741.97 17,413.47 36,022.34 Add: Share of profit after tax of equity accounted investee 522.96 310.21 330.69 833.17 597.20 1,151.51 Less: Depreciation and amortisation expenses (3,065.40) (3,093.12) (2,958.72) (6,158.52) (5,854.23) (12,657.85) Less: Finance costs (4,129.69) (4,001.45) (3,841.91) (8,131.14) (7,560.28) (14,950.42) Add: Exceptional item (refer note 7(xi)) - - - - - 1,770.13 Profit before tax 3,285.78 2,999.70 2,523.68 6,285.48 4,596.16 11,335.71 Less: Tax expense 5,024.36 (1,047.52) (201.89) 3,976.84 (722.68) (7,950.26) Profit for the period/year 8,310.14 1,952.18 2,321.79 10,262.32 3,873.48 3,385.45 Add: Other Comprehensive Income - - - - - (9.76) Total comprehensive income for the period/year 8,310.14 1,952.18 2,321.79 10,262.32 3,873.48 3,375.69 Particulars Revenue from operations 11,239.45 10,932.04 9,862.37 22,171.49 19,142.84 39,762.13 Less: Property tax (387.87) (594.71) (352.05) (982.58) (672.55) (1,654.79) Less: Repairs & Maintenance (952.77) (804.80) (823.28) (1,757.57) (1,607.14) (3,373.83) Less: Other direct operating expenses (177.52) (146.62) (142.17) (324.14) (274.60) (468.52) Net Operating Income (segment results for the period/year) 9,721.28 9,385.91 8,544.87 19,107.20 16,588.55 34,264.99 Particulars Revenue from operations 1,527.71 1,203.02 1,251.74 2,730.73 2,413.02 5,321.49 Less: Property tax (22.25) (22.02) (22.58) (44.27) (45.15) (90.16) Less: Repairs & Maintenance (126.15) (107.52) (114.95) (233.67) (219.21) (436.96) Less: Other direct operating expenses (628.07) (489.53) (490.32) (1,117.60) (974.32) (2,071.40) Net Operating Income (segment results for the period/year) 751.24 583.95 623.89 1,335.19 1,174.34 2,722.97 Particulars Revenue from operations 259.18 273.06 130.02 532.24 286.13 739.94 Less: Property tax (0.12) (0.13) (0.04) (0.25) (0.25) (0.50) Less: Repairs & Maintenance (24.25) (26.39) (12.90) (50.64) (32.47) (73.10) Less: Other direct operating expenses (12.38) (11.56) (12.72) (23.94) (25.60) (52.76) Net Operating Income (segment results for the period/year) 222.43 234.98 104.36 457.41 227.81 613.58 ** refer note 7(xv) Further, the information relating to segment assets and segment liabilities are not regularly provided to CODM for review and hence the same is not disclosed. Total Commercial Offices Hospitality Other Segment Particulars Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors c) Other segment: NOI for other segments is defined as revenue from operations (which includes income from generation of renewable energy) less direct operating expen ses (which includes (i) operating and maintenance expenses and (ii) other expenses excluding legal & professional expenses and audit fees). Other income and certain expenses (such as other expenses excluding direct operating expenses, depreciation, amortisation, finance cost and excep tional item) are not specifically allocable to segments and accordingly these expenses are adjusted against the total income of the Embassy Office Parks Group. Ind AS 108 establishes standards for the way that business enterprises report information about operating segments and related disclosures. Based o n the ‘management approach’ as defined in Ind AS 108, the Chief Operating Decision Maker (‘CODM’) evaluates the Embassy Office Parks' performance and allocates resources based on an analysis of various per formance indicators by operating segments. The accounting principles used in the preparation of th e Consolidated Financial Results are consist ently applied to record rev enue and expenditure in i ndividual segments and are as set out in the summary of material accounting policies. Net Operating Income (‘NOI’) is the key metric reported to the CODM for the purposes of assessment of the segment results. The same is defined as follows: a) Commercial Offices segment: NOI for Commercial Offices is defined as revenue fr om operations (which in cludes (i) facility rentals, (ii) maint enance services in come, (iii) inco me from finance lease, and (iv) other operating income for Commercial Offices) less direct operating expenses (which includes (i) operating and maintenance expenses excluding investment management fees a nd repairs and maintenance to buildings (ii) property taxes, (iii) rent and (iv) insurance). Consolidated Segment wise Revenue and Results for the quarter and half year ended 30 September 2026 b) Hospitality segment: NOI for hospitality segment is defined as revenue from operations (which includes (i) room rentals, (ii) sale of food and beverages, (iii) other opera ting income from hospitality) less direct operating expenses (which includes (i) cost of materials consumed, (ii) employee benefits expenses, (iii) operating and maintenance expenses and (iv) other expenses excluding property management fees and settlement fees). Operating segments of Embassy Offic e Parks Group are (i) Commercial Offices, (ii) Hospitalit y and (iii) Other segments. Other segments comprise gen eration of renewable energy. Revenue and identifiable operating expenses in relation to segments are categorized based on items that are individually identifiable to that segment. Page 15
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(all amounts in Rs. million unless otherwise stated) Statement of Net Borrowings Ratio pursuant to guidance under Chapter 4, Paragraph 4.6.5 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 Particulars REIT EPTPL MPPL** EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP ERHIPL Total Borrowings [A] (refer note 1 below) Secured Non-convertible debentures Embassy Office Parks REIT Series XVIII 9,942.23 - - - - - - - - - - - - - - - - 9,942.23 Embassy Office Parks REIT Series XVII 6,984.85 - - - - - - - - - - - - - - - - 6,984.85 Embassy Office Parks REIT Series XVI 13,941.84 - - - - - - - - - - - - - - - - 13,941.84 Embassy Office Parks REIT Series XV 19,901.51 - - - - - - - - - - - - - - - - 19,901.51 Embassy Office Parks REIT Series XIV 7,499.46 - - - - - - - - - - - - - - - - 7,499.46 Embassy Office Parks REIT Series XIII NCD-Series A 14,979.72 - - - - - - - - - - - - - - - - 14,979.72 Embassy Office Parks REIT Series XIII NCD-Series B 4,993.66 - - - - - - - - - - - - - - - - 4,993.66 Embassy Office Parks REIT Series XII NCD 9,990.43 - - - - - - - - - - - - - - - - 9,990.43 Embassy Office Parks REIT Series XI NCD 9,001.95 - - - - - - - - - - - - - - - - 9,001.95 Embassy Office Parks REIT Series VIII NCD 4,998.95 - - - - - - - - - - - - - - - - 4,998.95 Embassy Office Parks REIT Series VI NCD 9,994.74 - - - - - - - - - - - - - - - - 9,994.74 Embassy Office Parks REIT Series V NCD-Series B 10,999.29 - - - - - - - - - - - - - - - - 10,999.29 Embassy Office Parks REIT Series IV NCD - - - - - - - - - - - - - - - - - - QBPL Series I NCD - - - - - - - - - 3,889.52 - - - - - - - 3,889.52 ECPL Series II NCD - - - - - - - - - - - - - - 2,742.14 - - 2,742.14 Term loans from Bank and Financial Institution Term Loan from ICICI Bank - - 3,230.44 - - - - - - 244.44 - - - - - 1,700.00 - 5,174.88 Term Loan from Bank of India - - 2,472.56 - - - - - - - - - - - - - - 2,472.56 Term Loan from HSBC - - 7,459.56 - - - - - - - - - 1,623.19 - - - - 9,082.75 Term Loan from DBS - - - - - - - - - - - - 1,959.56 - - - - 1,959.56 Term Loan from Canara Bank - - 11,743.36 - - - - - - - - - 9,940.29 - - - - 21,683.65 Term Loan from SBI Bank - - 7,690.38 - - - - - 1,538.34 - - - 5,918.90 - - - - 15,147.62 Term Loan from Bandhan Bank - - - - - - - - - - - - - - - 5,384.11 - 5,384.11 Term Loan from Bank of Baroda - - 4,770.09 - - - - - - - - - - - - - - 4,770.09 Term Loan from Axis Bank - - 4,942.55 - - - - - - 7,793.92 - - - - - - - 12,736.48 Term Loan from Bajaj Housing Financial Limited 3,249.60 - - - - - - - - - - - - - - - - 3,249.60 Overdraft Overdraft from Axis Bank - - 1,000.50 - - - - - - - - - 2,178.36 - - - - 3,178.86 Overdraft from ICICI Bank - - 2,802.01 - - - - - 222.45 751.95 - - 2,980.75 - - - - 6,757.17 Overdraft from SBI Bank - - 898.48 - - - - - 396.66 - - - 839.83 - - - - 2,134.97 Overdraft from Bank of Baroda - - 485.48 - - - - - - - - - - - - - - 485.48 Unsecured Commercial Paper Embassy Office Parks REIT-CP Series XI 3,969.17 - - - - - - - - - - - - - - - - 3,969.17 Embassy Office Parks REIT-CP Series X(b) 4,351.28 - - - - - - - - - - - - - - - - 4,351.28 Embassy Office Parks REIT-CP Series X(a) 6,278.39 - - - - - - - - - - - - - - - - 6,278.39 Embassy Office Parks REIT-CP Series IX 4,850.97 - - - - - - - - - - - - - - - - 4,850.97 Add: Deferred payments [B] - - - - - - - - - - - - - - - - - - Less: Cash and Cash Equivalents [C]^ Cash on hand - - (0.83) - (0.51) - - - - (0.46) - - (0.35) - - - - (2.15) Balances with banks - in current accounts (2,719.97) (283.66) (8,644.98) (211.32) (176.53) (674.34) (121.53) (70.32) (546.08) (818.22) (170.20) (225.64) (3,609.64) (362.17) (52.77) (509.13) (60.21) (19,256.71) - in escrow accounts - Balances with banks for unclaimed distributions* (2.58) - - - - - - - - - - - - - - - - (2.58) - Others - - (368.33) - - - - - (0.03) (0.22) - - (9.53) (0.17) - (0.01) - (378.29) - in fixed deposit accounts with original maturity of less than three months - - - - - - - - - - - - - - - - - - Aggregate Borrowings and Deferred payments net of Cash and Cash Equivalents [D=A+B-C] 143,205.49 (283.66) 38,481.28 (211.32) (177.04) (674.34) (121.53) (70.32) 1,611.34 11,860.94 (170.20) (225.64) 21,821.36 (362.34) 2,689.37 6,574.97 (60.21) 223,888.15 Value of REIT Assets [E] (refer note 2 below) - 26,030.59 328,550.26 4,450.15 8,817.10 19,889.87 11,793.74 26,571.77 30,452.48 25,566.32 10,372.34 25,664.67 159,632.55 19,977.57 8,335.43 24,983.13 8,813.08 739,901.05 Net Borrowings Ratio [D/E] 30% Notes: 1 Borrowings = Long-term borrowings + Short-term borrowings 2 The value of REIT assets as at 30 September 2026 is considered based on the GAV available as at 30 September 2026. 3 * These balances are restricted and are not available for use by the Group. 4 ** Value of assets of GLSP is included only to the extent of 50%, i.e., share held by MPPL, in computing the Value of REIT Assets. 5 The above statement of Net Borrowings ratio is as per computation prescribed under Chapter 4, paragraph 4.6.5 to SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025. 6 ^ As per Schedule III to Companies Act, 2013 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 As at 30 September 2026 Page 16
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(all amounts in Rs. million unless otherwise stated) Statement of Net Borrowings Ratio pursuant to guidance under Chapter 4, Paragraph 4.6.5 to SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 Particulars REIT EPTPL MPPL** EEPL UPPL ETPL GSPL IENMPL OBPPL QBPL QBPPL VCPPL VTPL SIPL ECPL ESNP ERHIPL Total Borrowings [A] (refer note 1 below) Secured Non-convertible debentures Embassy Office Parks REIT Series XV 19,877.25 - - - - - - - - - - - - - - - - 19,877.25 Embassy Office Parks REIT Series XIV 7,499.33 - - - - - - - - - - - - - - - - 7,499.33 Embassy Office Parks REIT Series XIII NCD-Series A 14,970.55 - - - - - - - - - - - - - - - - 14,970.55 Embassy Office Parks REIT Series XIII NCD-Series B 4,991.42 - - - - - - - - - - - - - - - - 4,991.42 Embassy Office Parks REIT Series XII NCD 9,987.44 - - - - - - - - - - - - - - - - 9,987.44 Embassy Office Parks REIT Series XI NCD 9,010.69 - - - - - - - - - - - - - - - - 9,010.69 Embassy Office Parks REIT Series VIII NCD 4,998.78 - - - - - - - - - - - - - - - - 4,998.78 Embassy Office Parks REIT Series VI NCD 9,984.47 - - - - - - - - - - - - - - - - 9,984.47 Embassy Office Parks REIT Series V NCD-Series B 10,984.81 - - - - - - - - - - - - - - - - 10,984.81 Embassy Office Parks REIT Series IV NCD 2,994.94 - - - - - - - - - - - - - - - - 2,994.94 MPPL Series I NCD - - 10,200.27 - - - - - - - - - - - - - - 10,200.27 QBPL Series I NCD - - - - - - - - - 3,982.90 - - - - - - - 3,982.90 ECPL Series I NCD - - - - - - - - - - - - - - 2,497.86 - - 2,497.86 ECPL Series II NCD - - - - - - - - - - - - - - 2,734.75 - - 2,734.75 Term loans from Bank and Financial Institution Term Loan from ICICI Bank - - 4,996.98 - - - - - - - - - - - - 1,550.00 - 6,546.98 Term Loan from HSBC - - 4,498.20 - - - - - - - - - 12,398.75 - - - - 16,896.95 Term Loan from DBS - - - - - - - - - - - - 1,978.89 - - - - 1,978.89 Term Loan from Canara Bank - - 12,377.21 - - - - - - - - - 5,277.40 - - - - 17,654.61 Term Loan from SBI Bank - - 7,025.10 - - - - - 1,558.61 - - - 2,981.07 - - - - 11,564.78 Term Loan from Bandhan Bank - - - - - - - - - - - - - - - 5,440.09 - 5,440.09 Term Loan from Bank of Baroda - - 4,866.33 - - - - - - - - - - - - - - 4,866.33 Term Loan from Axis Bank - - 3,008.91 - - - - - - 7,871.55 - - - - - - - 10,880.46 Term Loan from Bajaj Housing Financial Limited 3,232.59 - - - - - - - - - - - - - - - - 3,232.59 Overdraft Overdraft from Axis Bank - - 919.90 - - - - - - - - - - - - - - 919.90 Overdraft from ICICI Bank - - - - - - - - 237.29 - - - - - - - - 237.29 Overdraft from SBI Bank - - 1,793.97 - - - - - 398.56 - - - 937.03 - - - - 3,129.56 Overdraft from Bank of Baroda - - 492.63 - - - - - - - - - - - - - - 492.63 Unsecured Commercial Paper Embassy Office Parks REIT-CP Series IV 4,136.29 - - - - - - - - - - - - - - - - 4,136.29 Embassy Office Parks REIT-CP Series V 3,397.06 - - - - - - - - - - - - - - - - 3,397.06 Embassy Office Parks REIT-CP Series VI 3,148.63 - - - - - - - - - - - - - - - - 3,148.63 Add: Deferred payments [B] - - - - - - - - - - - - - - - - - - Less: Cash and Cash Equivalents [C]^ Cash on hand - - (1.06) - (0.54) - - - - (0.40) - - - - - - - (2.00) Balances with banks - in current accounts (105.15) (397.54) (3,311.51) (115.74) (190.47) (163.60) (103.80) (137.04) (871.90) (110.09) (89.97) (172.15) (1,628.07) (399.55) (24.95) (418.81) - (8,240.34) - in escrow accounts - Balances with banks for unclaimed distributions* (2.87) - - - - - - - - - - - - - - - - (2.87) - Others - - (33.49) - - - - - (0.03) (1.82) - - (29.65) - - (125.47) - (190.46) - in fixed deposit accounts with original maturity of less than three months - - - - (10.00) - - - - - - - - - - - - (10.00) Aggregate Borrowings and Deferred payments net of Cash and Cash Equivalents [D=A+B-C] 109,106.23 (397.54) 46,833.45 (115.74) (201.01) (163.60) (103.80) (137.04) 1,322.53 11,742.14 (89.97) (172.15) 21,915.42 (399.55) 5,207.66 6,445.81 - 200,792.85 Value of REIT Assets [E] (refer note 2 below) - 25,540.92 299,524.17 3,772.42 7,837.90 16,577.39 10,661.11 21,089.51 25,868.22 24,813.40 10,084.78 20,086.54 130,232.07 19,024.00 7,005.93 17,684.22 - 639,802.58 Net Borrowings Ratio [D/E] 31% Notes: 1 Borrowings = Long-term borrowings + Short-term borrowings 2 The value of REIT assets as at 30 September 2025 is considered based on the GAV available as at 30 September 2025. 3 * These balances are restricted and are not available for use by the Group. 4 ** Value of assets of GLSP is included only to the extent of 50%, i.e., share held by MPPL, in computing the Value of REIT Assets. 5 The above statement of Net Borrowings ratio is as per computation prescribed under Chapter 4, paragraph 4.6.5 to SEBI Master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025. 6 ^ As per Schedule III to Companies Act, 2013 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 As at 30 September 2025 Page 17
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(all amounts in Rs. million unless otherwise stated) Statement of Commitments and Contingencies Particulars As at 30 September 2026 As at 30 September 2025 Capital commitments 10,435.45 11,116.22 Contingent liabilities 295.26 274.72 345.67 817.91 2,739.49 3,124.96 Others (refer notes v and vi) Notes: i) Particulars As at 30 September 2026 As at 30 September 2025 MPPL 2,191.83 3,672.11 VTPL 2,517.09 4,592.27 ESNP 2,971.99 2,064.86 ECPL 2,051.93 205.41 IENMPL 119.13 179.43 EEPL 67.17 - QBPL 19.45 178.28 EPTPL 46.18 100.20 OBPPL 436.86 76.93 Galaxy - 16.64 UPPL 12.22 18.32 Others 1.61 11.76 10,435.45 11,116.22 ii) Claims not acknowledged as debt in respect of Income Tax matters Particulars As at 30 September 2026 As at 30 September 2025 SIPL 214.53 214.53 UPPL 46.35 46.35 ECPL 1.54 - QBPPL - 3.76 EEPL 1.49 - VTPL 31.35 10.08 295.26 274.72 SIPL: Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Based on Group’s best estimate, information currently available and basis expert opinion obtained by the Group, no provisions have been made for abov e claims as at 30 September 2026. The Group will continue to monitor developments to identify significant uncertainties and change in estimates, if any, in future period. Estimated amount of contracts remaining to be executed on capital account (net of advances) and not provided for (a) The SPV had received an assessment order u/s. 143(3) of the Income Tax Act for AY 2022-23 wherein the assessing officer has denied set-off of brought -forward losses u/s 79A of the Act amounting to Rs. 406.56 mil lion. Consequently, a demand amounting of Rs. 148. 22 million has been raised. Aggrieved by the asse ssment order, the SPV filed an appeal before CIT(A). As the SPV had already created a p rovision of Rs. 101.54 million against t he additional income offered, th e SPV has accordingly disclosed the balance demand of Rs.46.68 million (30 September 2025: Rs.46.68 million) as contingent liability. Estimated amount of contracts remaining to be executed on capital account (net of advances) and not provided for (refer note i) Claims not acknowledged as debt in respect of Income Tax matters (refer note ii) Claims not acknowledged as debt in respect of Indirect Tax matters (refer note iii) Claims not acknowledged as debt in respect of Property Tax matters (refer note iv) UPPL: The SPV had received an assessment order u/s. 154 read with 143(3) of the Income Tax Act for AY 2017-18 wherein the assessing officer has disallowed set o ff of losses against the addition made during assessment treating certain expenses as unexplained expenditure under section 69C of the Income Tax Act. Agg rieved by the assessment order, the SPV filed an appeal before CIT(A). Accordingly, the SPV has disclosed Rs. 46.35 million (30 September 2025: Rs.46.35 millio n) as contingent liability. (b) The SPV had received a penalty order u/s 270A of the Income Tax Act for AY 2021-22 wherein the assessing officer has levied penalty stating that SPV ha s mis- reported income without accepting the fact that the SPV has suo-moto offered the income of Rs. 288.20 million in its tax return filed u/s 148. Aggrieved by the said penalty order, the SPV filed an appeal before CIT(A). Accordingly, the SPV has disclosed Rs.167.85 million (30 September 2025: Rs.167.85 million) as contingent liability. ECPL: The SPV was assessed u/s. 201 of the Income Tax Act, 1961 for the AY 2020-21 and a tax demand of Rs. 1.54 million was raised by TDS officer on account of non deduction of TDS on payment made to certain foreign vendor. An appeal against the said 201 order has been filed before the CIT(A). Accordingly, the SPV h as disclosed Rs.1.54 million (30 September 2025: Rs.Nil) as contingent liability. Page 18
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(all amounts in Rs. million unless otherwise stated) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Commitments and Contingencies (continued) ii) Claims not acknowledged as debt in respect of Income Tax matters (continued) iii) Claims not acknowledged as debt in respect of Indirect Tax matters Particulars As at 30 September 2026 As at 30 September 2025 MPPL 102.38 624.42 UPPL 78.80 78.80 GSPL 49.80 - VTPL 83.77 83.77 REIT 30.92 30.92 345.67 817.91 EEPL: (a) The SPV has received reassessment orders for AY 2020-21 and AY 2021-22, wherein the assessing officer (AO), among other matters, has also disallow ed interest under section 36(1)(iii) of the Income-tax Act, 1961 amounting to Rs. 284.10 million and Rs. 524.40 million, respectively. Aggrieved by these orders , the SPV has filed appeals before the Hon’ble CIT(A) and hearing notice is awaited. Based on the order by the AO, the disallowance will result in reduction of brought-for ward losses by Rs. 808.50 million. However, management continues to recognise Deferred tax asset on such losses. Since the management believes that there are reaso nable grounds to expect a favourable outcome in the said matter, and therefore no adjustment has been made in books of accounts. (b) The SPV was assessed u/s. 201 of the Income Tax Act, 1961 for the AY 2023-24 and tax demand of Rs. 1.49 million was raised by TDS officer on account of non deduction of TDS on provision for expenses made. An appeal against the said 201 order has been filed before the CIT(A). Accordingly, the SPV has disclos ed Rs. 1.49 million (30 September 2025: Rs.Nil) as contingent liability. VTPL: The SPV was assessed u/s. 201 of the Income Tax Act, 1961 for the AY 2019-20 and AY 2020-21 and a tax demand of Rs. 10.08 million and Rs.21.27 million respectively was raised by TDS o fficer on account of non ded uction of TDS on payment made to certain foreign vendors. An appeal against the said 201 order has been filed before the CIT(A). Accordingly, the SPV has disclosed Rs. 31.35 million (30 September 2025: Rs. 10.08 million) as contingent liability. QBPPL: The SPV had received an assessment order u/s. 143(3) of the Income Tax Act for AY 2015-16 with 14A disallowance, certain expense disallowances and shor t grant of TDS credit resulting in demand of Rs.3.76 million. An appeal agains t the assessment order was filed befor e CIT(A). Pursuant to the dispute res olution scheme of settling the pending litigations under the Direct Tax Vivad-Se-Vishwas Act, 2024, the SPV had filed the applications for settling this case. The fi nal settlement order from the Designated Authority has been received with the disputed tax demand and claims being settled. The SPV has therefore disclosed Rs.Nil (30 Sept ember 2025: Rs.3.76 million) as contingent liability. MPPL: (a) The SPV had received Order-in-original dated 23 December 2015 with a demand to pay a sum of Rs.522.04 million (including interest and penalty) from the Commissioner of Central Excise Bangalore-V Commissionerate towards incorrectly availed Cenvat credit during the period 1 April 2006 to 31 March 201 2. Appeal has been filed before CESTAT dated 18 April 2016. The appeal is heard and order is received in favor of the SPV. Accordingly, Rs. Nil (30 September 2025: Rs.5 22.04 million) is disclosed as contingent liability. UPPL: (a) The SPV had received an order from the office of Deputy Commissioner of Commercial Taxes dated 04 March 2024 for demand of tax including interest and penalty on corporate guarantee amounting to Rs 5.71 million relating to period from 1 April 2019 to 31 March 2020. Against the said order, the SPV has fil ed an appeal before the Joint Commissioner (Appeals) after making a pre-deposit of Rs. 0.32 million to stay the recovery of the balance amount. The matter was heard and order was received demanding tax on corporate guarantee. Against the said order, the Company has filed writ petition before the Hon'ble Karnataka HC wherei ns t a yh a s been granted for the demand. Accordingly, a sum of 5.71 million (30 September 2025: Rs.5.71 million) has been disclosed as contingent liability. (b) The SPV had received orders from the office of Assistant Commissioner of Commercial Taxes dated 28 February 2025 and 8 August 2025 for demand of tax including interest and penalty on corporate guarantee amounting to Rs. 72.94 million and Rs 0.15 million relating to period from 01 April 2020 to 31 Mar ch 2021 and 01 April 2022 to 31 March 2023 respectively. Aggrieved by the said orders, the SPV has filed a writ petition before the Hon'ble Karnataka HC wherein stay ha s been granted for the demand. Accordingly, a sum of Rs.73.09 million (30 September 2025: Rs. 73.09 million) has been disclosed as contingent liability. GSPL: The SPV had received an order from the office of Deputy Commissioner, GST Noida dated 07 February 2025 for demand of GST on electricity reimbursement amounting to Rs. 49.80 million relating to period from 01 April 2019 to 31 March 2020. Aggrieved by the said order, the SPV has filed appeal before the Joi nt Commissioner (Appeals). Accordingly, a sum of Rs. 49.80 million (30 September 2025: Rs.Nil) has been disclosed as contingent liability. VTPL: The SPV had received an order from the office of Deputy Commissioner of Commercial Taxes dated 25 February 2025 for demand of tax including interest and penalty on corporate guarantee amounting to Rs 83.77 million relating to period from 01 April 2020 to 31 March 2021. Aggrieved by the said order, the SPV has filed a writ petition before the Hon'ble Karnataka HC wherein stay has been granted for the demand. Accordingly, a sum of Rs. 83.77 million (30 September 2025: Rs.83.77 million) has been disclosed as contingent liability. REIT: The Trust had received an ord er from the office of Deputy Commi ssioner of Commercial Taxes dated 19 August 2024 for demand of tax on corporate guarantee given by Trust amounting to Rs.30.92 million relating to period from 01 April 2019 to 31 March 2020. Aggrieved by the said order, the Trust has filed an appeal before the Joint Commissioner (Appeals) after making a pre-deposit of Rs. 1.51 million to stay the recovery of the balance amount. The matter was heard and order i s received from the Joint Commissioner (Appeals) not in favour of the Trust. Aggrieved by the said order, the Company has filed writ petition before the Hon'ble Ka rnataka HC wherein stay has been granted for the demand. Accordingly, a sum of Rs. 30.92 million (30 September 2025: Rs. 30.92 million) has been disclosed as conti ngent liability. (b) The Principal Commissioner of Service Tax issued a final adjudication order dated 20 January 2022 with a demand of Rs.102.38 million including pen alty on various issues including irregular availment of input credit, turnover reconciliation etc. The SPV has filed an appeal with CESTAT against the order received from commissioner of service tax. Accordingly, a sum of Rs. 102.38 million (30 September 2025: Rs.102.38 million) has been disclosed as contingent liability. Page 19
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(all amounts in Rs. million unless otherwise stated) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Commitments and Contingencies (continued) iv) Claims not acknowledged as debt in respect of Property Tax matters Particulars As at 30 September 2026 As at 30 September 2025 MPPL 2,739.49 3,124.96 2,739.49 3,124.96 (b) The SPV had also received demand notices dated 09 October 2017 to pay a sum of Rs.760.07 million including penalty as of that date towards the differe ntial property tax based on the total survey report for certain blocks for the period 2008-09 to 2017-18. An appeal had been filed before the Joint Commission er, BBMP, Bytarayanapura, Bangalore (“Joint Commissioner”) objecting the total survey report and property tax assessment notice arising therefrom. New dem and notices dated 17 January 2019 were issued to pay a sum of Rs.860.39 million (including penalty) towards the differential property tax for the period 2008-09 to 2017-18 and interest upto the date of payment as per the demand notices. The SPV submitted a letter to the Joint Commissioner dated 29 March 2019 referring to the app eals preferred by the SPV and had paid a sum of Rs.286.80 million towards property tax demanded under protest. An order was passed by the Joint Commissioner dismissing the appeal preferred by the SPV. Against the order passed by the Joint Commissioner, MPPL had, based on external legal opinion, filed a writ petition before the Hon’ble High Court of Karnataka on 03 August 2020 on various grounds, inter alia, that the rates BBMP has relied on to calculate property tax i n the said demand notices dated 09 October 2017 has been already challenged in a writ appeal filed by the SPV and pending before Hon'ble High Court of Karnataka as mentioned in note iv(a) above. Additionally new no tices dated 24 July 2019 and 18 March 2021 were issu ed to pay a sum of Rs.78.56 million (including pena lty) and Rs.27.25 million (including penalty) towards the differential property tax for the year 2018-19 and 2019-20 respectively and the SPV had paid Rs.35. 26 million towards property tax demanded under protest. However, BBMP vide notice dated 17 June 2021 had returned the demand draft amount of Rs.9.08 million (differenti al property tax for the year 2019 -20 paid) requesting payment of interest and penalty along with the differential tax amounting to Rs.27.25 million. The BBMP had i ssued distress warrant on 01 February 2022 in relation to the above said matter with a notice to pay Rs. 727.09 million against which MPPL had obtained an interim stay on 16 February 2022 from the Hon’ble High Court of Karnataka till the next date of hearing. Pursuant to the return of the demand draft amounting to Rs.9.08 mil lion, the SPV filed an writ petition before the Hon'ble High Court of Karnataka for (i) staying the operation and execution of the demand notices dated 18 March 2021 a nd endorsement dated 17 June 2021 and (ii) directing the BBMP to accept the payment of differential property tax. The Hon'ble High Court of Karnataka on 30 September 2022 directed the BBMP to accept the principal payment of Rs.9.08 million. Basis the order of the Hon'ble High Court of Karnataka, MPPL deposited the pr incipal payment of Rs.9.08 million to BBMP vide letter dated 11 October 2022 via demand draft. Pursuant to the One Time Settlement Scheme promulgated by the State of Karnataka vide government order dated 22 February 2024 (OTS Scheme) which allow ed for payment of past dues with penalty while waiving interest, and based on the representation from BBMP, the SPV made an under-protest payment of Rs.38 5.47 million (inclusive of one time penalty as per the OTS Scheme) towards th e full and final satisfaction of the d emand notice s mentioned abo ve. However, w hile determining the amount payable under the OTS Scheme, the BBMP had not considered a payment of Rs.26.19 million and therefore, the SPV has claimed for th ec r e d i t of this amount. Further, the final amount payable was calculated based on BBMP's classification of the property which has been disputed by the SPV as sp ecified at (a) above. However, the contingent liability amount for (a) has not been reduced on this account. Subsequent to the under-protest payment by the SPV, t he OTS Scheme has been amended to dispense with the payment of penalty along with the interest. The SPV has addressed a letter to the BBMP seeking benefit of suc h amendment in respect of the under-protest payment already made. During the previous year ended 31 March 2026, the Group had accounted for the above amount. Accordingly, a net contingent liability of Rs.Nil (30 September 2025: Rs.385.47 million) has been disclosed. MPPL: (a) The SPV had received a demand order dated 05 October 2015 to pay a demand of Rs.844.66 million (Rs.2,739.49 million including penalty and interest u pto June 2016) towards the difference in property tax payable by the SPV, which difference arose on account of classification of the property under different s chedules for the purpose of computing property taxes, for the period 2008-09 to 2015-16. The SPV is contesting that the concerned property being an industrial estate t hat has been developed as special economic zone must be classified as category XIV as per the notification issued under Karnataka Municipal Corporation Act, 1976 ('the Act') and Bruhat Bengaluru Mahanagar Palike Property Tax Rules, 2009 ('Rules'). Whereas, the Assistant Revenue Officer has been considering the concerne d property under category VIII as per the notification issued under the Act and Rules. The SPV filed a writ petition against the demand order which has been dismiss ed by the Hon'ble High Court of Karnataka. The said court upheld the demand made by BBMP. Against the order passed by single judge for the dismissal of writ petiti on, MPPL has based on external legal opinion filed an appe al before the aforementioned court and the same ha s been admitted by the court on 27 June 2016. The Hon'b le High Court restrained BBMP from taking any coercive action against the SPV and also directed BBMP to allow the SPV to make payment of property tax for the assessment year 2016-17. The matter is currently pending as at the date of these financial results. Accordingly, this has been disclosed as a continge nt liability. The SPV had paid Rs.646.69 million (30 September 2025: Rs.646.69 million) under protest against the above demand. The SPV had received a revised demand no te dated 27 June 2024 where the updated demand amount is Rs.652.20 million (excluding penalty & interest). 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(all amounts in Rs. million unless otherwise stated) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 v) vi) (a) (b) i) GLSP has received show cause notice and order-in-original dated 14 August 2011 and 11 December 2011 to pay a sum of Rs.111.86 million from Office of th e Commissioner of Service tax towards wrongly availed Cenvat credit during the period 1 April 2009 to 31 March 2011. Appeal was filed before CESTAT. As at 30 September 2026 the appeal for FY 2009-10 & 2010-11 has been disposed off allowing Cenvat credit. Accordingly, GLSP has disclosed contingent liabilit y of Rs. Nil (31 March 2026: Rs. 69.38 million). Statement of Commitments and Contingencies (continued) Others: tax matters pertaining to equity accounted investee company EEPL : i) SPV received a demand notice under the Insolvency and Bankruptcy Code, 2016 (IBC) on 28 February 2019 from a third party sub-contractor, engaged by I L&FS Development Company ("IEDCL"), IEDCL in turn appointed by the parent compan y of IL&FS Solar Power Limited (‘ISPL’), ISPL was the main contractor appo inted by Embassy Energy. The demand notice alleges that unpaid amounts (categorized as operational debts) aggregating up to Rs.1,008.10 million (including interest up to October 2018) are due to the third party sub-contractor directly from SPV for the various works claimed to have been undertaken at the site of Embassy En ergy, on the basis of certain correspondence with SPV. SPV has by its letter dated 01 March 2019, refuted all such claims inter alia on the basis that the payments are due from ISPL (and/ or its parent entity) to the third party sub-contractor and not from SPV, and therefore the third party sub-contractor has no claim against S PV. By its letters dated 18 March 2019, the third party sub-contractor has responded to the letter from SPV, denying all statements made by SPV and reiterating that the un paid amounts are due from SPV. The third party sub-contractor has thereafter filed an application under Section 9 of the Code before the Bangalore bench of N ational Company Law Tribunal ("NCLT") claiming debt of Rs.1,082.50 million (including interest up to September 2019) and interest thereon against SPV. The N CLT vide its order dated 08 March 2022 has dismissed the petition filed by the third party sub-contractor. The third party sub-contractor filed an appeal before the Nati onal Company Law Appellate Tribunal, Chennai ("NCLAT") and the same was dismissed vide order dated 16 June 2023. The third party sub-contractor has filed an appeal before the Supreme Court of India against the orders of the NCLT and NCLAT and the next date of hearing is 17 November 2026. Sterling & Wilson Renewable Energy Limit ed ('SWREL') has filed for pre- institution mediation under the Commercial Courts Act, 2015 before the District Legal Services Authority, Bengaluru an d the pre-mediation has failed. SWREL has initiated a summary suit before the Additional City Civil and Sessions Judge, Commercial Court, Bengaluru and SPV has filed the o bjections for leave to defend and also filed application for dismissal of the plaint before the Additional City Civil and Session Judge. Further, the City Civil and S essions Judge, Commercial Court has rejected the interim applications filed by SWREL for (i) amendment of plaint and (ii) impleading of SWPL vide order dated 29 Octob er 2025. The next date of hearing on the SPV’s application to reject the summary suit is 06 November 2026. SWREL has filed two writ petitions before the Karnataka HC on 11 November 2025, challenging the aforesaid impugned orders of the Commercial Court. The next date of hearing is 30 October 2026. The representative of S WREL filed a complaint before the Economic Offence Wing, Mumbai ("EOW") against the SPV and has lodged an First Information Report against the SPV, Jitendra Virw ani, Karan Virwani and another claiming Rs.1,315.70 million. The SPV, Jitendra Virwani and Karan Virwani has filed a Criminal Writ Petition before the High Cour t of Bombay against the State of Maharashtra and representative of SWREL praying for (i) quashing and setting aside of the FIR and investigation of the EOW and (ii) stay on further proceedings under the FIR and the EOW, this matter has been withdrawn by the SPV, Jitendra Virwani and Karan Virwani on 10 November 2025. EOW has filed a chargesheet against the SPV and others before the Judicial Magistrate, 47th Court, Mumbai and bail has been obtained on 15 January 2025 and the next dat eo f hearing is 25 January 2027. Pursuant to the FIR, a criminal revision petition was filed by EEPL, Mr. Jitendra Virwani and Mr. Karan Virwani before the Hi gh Court of Bombay against the State of Maharashtra and the representatives of SWREL for setting aside the order of the Judicial Magistrate dated 16 November 2024 for erroneously issuing process. The criminal revision applications have been wi thdrawn on 21 January 2026, with liberty to file appropriate applicati ons before the High Court of Bombay/ an appropriate court. Further, Mr. Jitendra Virwani and M r. Karan Virwani have also filed criminal revision applications before the High Court of Bombay for modification of the bail conditions which were partly allowed. By way of an order dated 26 February 2026, the Bombay HC stated that it need not insist on the personal appearance of the Mr. Jitendra Virwani and Mr. Karan Virwani at the time of seeking permission to travel and the said applications seeking permission to travel have to be disposed of by the Magistrate within a period of seven days. Further, Mr. Jitendra Virwani, Mr. Karan Virwani and SPV have filed crimin al writ petition for quashing and setting aside the trial before the Judicial Magistrate. GLSP (50% equity accounted investee - joint venture) Service Tax matters: Other matters VCPPL (Forfeiture of security deposit matters): Orange Business Services India Technology Private Limited, earlier known as Equant Technologies Services (India) Private Limited ("Equant') had filed a summary suit bearing No. 388 of 2012 with the Hon'ble Bombay High Court alleging that the SPV incorrectly termin ated the letter of intent dated 18 July 2008 executed between the SPV and Equant for renting premises in Embassy 247 Park pursuant to which Equant paid to the SPV a securi ty deposit of Rs.40.32 million, which was withheld by the SPV on account of breach of agreed terms of the said letter of intent. The Hon'ble High Court had pa ssed an order dated 10 February 2014 wherein the court has granted leave to defend the matter subject to deposit of Rs.34.42 million in the court within 12 weeks . VCPPL filed an appeal against the order dated 10 February 2014 and further obtained a sta y on 07 July 2014 against the order dated 10 February 2014 till final disposa l of the appeal. The matter is pending for hearing. Page 21
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(all amounts in Rs. million unless otherwise stated) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Commitments and Contingencies (continued) vi) Other matters (c) EEPL: ii) The Karnataka Electricity Regulatory Commission, Bengaluru (KERC) has issued orders in 2005, 2008 and 2014 granting exemption to all solar power generators in Karnataka that achieved commercial operation date between 01 April 2013 and 31 March 2018 from paying certain charges such as payment of wheeling and banking charges, cross subsidy surcharges, transmission losses and wheeling losses for a period of ten years from the date of commissioning. KERC has issued an order dated 14 May 2018 withdrawing the aforementioned exemption available to Karnataka's power generators, including EEPL. iii) SPV has received a demand note dated 03 August 2023 from the Bangalore Water Supply and Sewerage Board (“BWSSB”) for a payment of total charges amounting to Rs. 51.24 million in relation to issuance of a no-objection certificate for a proposed project commercial building on land parcel. SPV ha s filed a writ petition before the High Court of Karnataka against the State of Karnataka, Bangalore Water Supply and Sewerage Board and others challenging inter-a lia, the demand notice issued against MPPL and seeking to, inter-alia, (i) quash the demand notice dated 03 August 2022; and (ii) issuance of NOC to the SPV. The S PV has obtained an ad-interim direction from the High Court of Karnataka on 02 November 2023 wherein the Court has granted stay of demand notice on 03 August 20 23 limited to advance probable pro-rata charges and beneficiary charges amounting to Rs. 46.93 million and has further instructed the SPV to pay the pres cribed fee for issuance of NOC. Pursuant to the same, the SPV has made payments on 28 November 2023 amounting to Rs. 6.03 million towards NOC charges and treated wat er charges and the NOC is received. The balance amount of Rs. 46.93 million towards NOC fees which have been stayed by the Hon'ble High Court of Karnataka. T he High Court of Karnataka has passed an order dated 22 April 2024, wherein it ha s been held that the advance probable pro-rata charges and treated water ch arges for construction are upheld and the beneficiary capital contribution charges and greater Bangalore water sewage project charges are held to be illeg al. The SPV has filed an appeal against the order of the High Court. ii) SPV has received a demand note dated 13 October 2022 from the Bangalore Water Supply and Sewerage Board for a payment of total charges amounting to Rs.24.62 million in relation to issuance of a no-objection certificate (NOC) for a proposed commercial building on land parcel. SPV has filed a writ pe tition before the High Court of Karnataka against the State of Karnataka, Bangalore Water Supply and Sewerage Board and others challenging inter-alia, the government order dated 12 February 2016 and the demand note issued against the SPV and seeking to, inter-alia, (i) quash the demand notice dated 13 October 2022; and (ii) issua nce of NOC to the SPV. The SPV has obtained an ad-interim direction from the High Court of Karnataka on 21 November 2022 wherein the Court has granted stay of dem and notice on 13 October 2022 limited to advance probable pro-rata charges and beneficiary charges amounting to Rs. 21.50 million and has further instruc ted the SPV to pay the prescribed fee for issuance of NOC. Pursuant to the same, the SPV has made payments on 06 December 2022 amounting to Rs.3.12 million towards NOC charges and treated water charges and the NOC is received. The balance amount of Rs.21.50 million towards NOC fees which have been stayed by the Hon'ble High Court of Karnataka. The High Court of Karnataka has passed an order dated 22 April 2024, wherein it has been held that the advance probable pro-rata char ges and treated water charges for construction are upheld and the beneficiary capital contribution charges and greater Bangalore water sewage project char ges are held to be illegal. The SPV has filed an appeal against the order of the High Court. The SPV commissioned the solar plant during the FY 2017-2018 and as per the previous Regulation, the charges did not apply to the SPV for a period of 10 yea rs. The SPV filed a writ petition with the Hon'b1e High Court of Karnataka challenging the KERC Order and obtained an interim Stay Order dated 24 May 2018. BESCO M filed preliminary statement of objections and also fil ed application seeking recalling of interim order . The application seeking recalling of interim or der was rejected. The Hon'ble High Court passed the judgment on 13 March 2019 allowing the Writ Petition and quashed the order dated 14 May 2018 passed by KERC. The SPV has file d Caveat Petition for receiving notifications in case any suit / appeal is filed b y any of the parties to the said petition. KERC has filed a common writ app eal against the order dated 13 March 2019 against EEPL and others. However, Electricity Supply Companies (ESCOMS) have also filed Writ Appeals against some of the pet itioners, but no appeal has been filed against EEPL, in the event an adverse order is passed in the said appeal made by ESCOMS, EEPL may also be affected. The next date of hearing is awaited. MPPL : i) SPV has filed a writ petition in 2015 against the BBMP and others seeking to inter-alia, quash (i) a circular from 2014 re-fixing the improvement char ges under the Karnataka Municipal Corporations Act, 1976, and the Karnataka Municipal Corporations (Recovery of Improvement Expenses) Rules, 2009, and (ii) a no tice from 2015 demanding payment of betterment charges of Rs.127.91 million. In 2016, the Hon'ble High Court of Karnataka has granted an interim stay on the impugned circular and notice. Further, MPPL has received a new demand notice dated 29 March 2022 issued by the BBMP for payment of the betterment charges amounting to Rs. 1 27.91 million along with interest amounting to Rs.184.19 million. MPPL has paid the b etterment charges of Rs.127.91 million under protest vide letter date d 30 March 2022 to BBMP. The Karnataka HC has passed an order for listing of the Writ Petition post disposal of the other Writ Appeals relating to betterment charges pendi ng before the Karnataka HC. Page 22
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(all amounts in Rs. million unless otherwise stated) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Commitments and Contingencies (continued) vi) Other matters (d) VTPL : i) SPV has received a demand note dated 14 August 2020 and 29 September 2020 from the Bangalore Water Supply and Sewerage Board for a payment of total charges amounting to Rs.138.64 million in relation to issuance of a no-objection certificate (NOC) for a proposed project commercial building on land parcel. SPV has filed a writ petition before the High Court of Karnataka against the State of Karnataka, Bangalore Water Supply and Sewerage Board and others challeng ing inter- alia, the government order dated 12 February 2016 and the demand note issued against the SPV and seeking to, inter-alia, (i) quash the demand notice dat ed 14 August 2020 and 29 September 2020; and (ii) issuance of NOC to SPV. SPV has obtained an ad-interim direction from the High Court of Karnataka on 17 Novemb er 2020 wherein the court has granted stay of demand notice on 14 August 2020 and 29 September 2020 limited to advance probable pro-rata charges and beneficiary charges and has further instructed the SPV to pay the prescribed fee for issuance of NOC. Pursuant to the same, SPV has made payments on 29 December 2020 a nd 30 December 2020 amounting to Rs.17.91 million towards NOC charges and treated water charges and the balance amount of Rs.120.73 million towards adva nce probable pro-rata charges and BCC charges which have been stayed by the Hon'ble High Court of Karnataka have been shown as contingent liability (31 Mar ch 2026: Rs.120.73 million). Additionally, SPV has received the NOCs dated 30 December 2020 from BWSSB with respect to the above. The High Court of Karnat aka has passed an order dated 22 April 2024, wherein it has been held that the advance probable pro-rata charges and treated water charges for construction are upheld and the beneficiary capital contribution charges and greater Bangalore water sewage project charges are held to be illegal. The SPV has filed an appea l against the order of the High Court. ii) SPV has received a demand note dated 04 May 2024 from the Bangalore Water Supply and Sewerage Board for a payment of total charges amounting to Rs.16. 35 million in relation to issuance of a no-objection certificate (NOC) for a proposed project commercial building on land parcel. SPV has filed a writ pet ition before the High Court of Karnataka against the State of Karnataka, Bangalore Water Supply and Sewerage Board and others challenging inter-alia, the government order dated 12 February 2016 and the demand note issued against the SPV and seeking to, inter-alia, (i) quash the demand notice dated 04 May 2024; and (ii) issuance o f NOC to SPV. Pursuant to an order dated 26 September 2024, the High Court of Karnataka granted an ad-interim stay on the demand notice dated 04 May 2020 in relati on to certain charges such as advance probable pro-rata charges and beneficiary capital contribution charges and Greater Bangalore water sewerage project charges. iii) An application dated 15 January 2025 for emergency interim relief (“Emergency Interim Application”) was filed before the Singapore Internatio nal Arbitration Centre (“SIAC”) by certain former third-party shareholders of VTPL (“Claimants”) against Axis Trustee Services Limited (“Trustee”) and Embassy Of fice Parks Management Services Private Limited (“Manager”) (Trustee and Manager collectively referred to as “Respondents”), in relation to the share purchas e agreement dated 17 November 2020 (“SPA”) among the Claimants and the Respondents (on behalf of Embassy REIT). The Emergency Interim Application alleged that th e SPA was void, inter alia, since (i) the Claimants were allegedly not aware that Survey no. 9/4, a land parcel located within the ETV Project campus and owned by VTPL since 2004, was transferred to Embassy REIT as part of the acquisition of 100% of the equity share capital of VTPL by Embassy REIT in 2020 pursuant to the S PA; and (ii) the SPA allegedly defeated certain provisions of law. The Emergency Interim Application was rejected by SIAC pursuant to an order dated 16 January 2025. Thereafter, the Claimants filed a Noti ce of Arbitration dated 20 January 2025 (“Notice of Arb itration”) before the SIAC against the Respondents. The Notice of Arbitration contains similar allegations and seeks similar reliefs to the Interim Application. This matter is currently pending. Separately, the Claimants have filed an application under the section 9 of the Arbitration and Conciliation Act, 1996 (“Section 9 Application”) befo re the Commercial Court, Bengaluru seeking interim reliefs on similar grounds and as indicated under the Interim Application. The Commercial Court vide order dated 10 June 2025 has dismissed the Claimants application for interim reliefs. The Claimants had also filed an appeal before the High Court of Karnataka against the order o f the Commercial Court and the High Court of Karnataka dismissed the appeal vide order dated 13 August 2025. Further, a special leave petition has been filed by the Claimants before the Supreme Court against the order of the High Court of Karnataka. The Supreme Court has dismissed the SLP vide order dated 14 Novembe r 2025, noting that there was no reason to interfere with the order of the Karnataka High Court. Additionally, the Claimants have also filed an interim application befor e the tribunal and Manager has filed its response to the interim application on 30 September 2025. Further, the Claimants have filed the statement of claims and the Respondents have filed the statement of defence on 16 December 2025. The Claima nts have filed their counterclaim on 10 February 2026 along with an application for condonation of delay as the submissions were due on 27 January 2026. Manager has filed its objections to the delay condonation application on 19 February 2026. The Claimants have withdrawn the interim application filed before the tribu nal. Further, the tribunal heard both the Parties on the production of documents and passed an order dated 06 August 2026. The Claimants filed an application to review an d recall the order dated 06 August 2026, the tribunal rejected this application of the Claimants vide order dated 17 September 2026. Based on the expert legal opinion obtained and Group’s best estimate and information currently available, no provisions have been made for above clai ms in these consolidated financial statements. The Group will continue to monitor developments to identify significant uncertainties and change in estimates , if any, in future period. Page 23
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(all amounts in Rs. million unless otherwise stated) Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Commitments and Contingencies (continued) vi) Other matters (e) (f) (g) (h) ii) SPV received a demand notice dated 16 July 2021 from BBMP towards ground rent and other charges for the purposes of issuing modified plan sanction at Embassy Business Hub owned by SPV. SPV has filed a writ p etition against State of Karnataka before the High Court of Karnataka, inter alia to set aside th e demand notice dated 16 July 2021 issued by BBMP. On 27 August 2021 the High Court of Karnataka has passed an interim stay against the ground rent, GST, security d eposit, license fee, cess on labour charges, 5% service charges on levy and surcharge, cess towards water supply, outer ring road, slum clearance, MRTS and lev ya n d surcharges dated 16 July 2021 and the balance demand of Rs.22.36 million in relation to security fee and labour welfare fee to be paid by the SPV. SPV has p aid the requisite fee of Rs.22.36 million on 21 October 2021 to BBMP as per the order dated 27 August 2021 and we have received the modified plan sanction. The Hig h Court of Karnataka has passed an order dated 20 June 2025, allowing the writ petition, by setting aside the demand notice. Further, the subject matter in the afo rementioned writ petition arises out of a similar subject matter which is challenged by the State of Karnataka before the High Court of Karnataka, in a writ appeal an ds a m ei s pending for final consideration. iii) SPV has received a demand note dated 21 November 2023 from the BWSSB (the “Demand Notice”) for payments of total charges amounting to Rs.5.12 milli on in relation to issuance of a no-objection certificate for a proposed project commercial building on land situated at Venkatala Village, Yelahanka Hobl i, Bangalore North Taluk, Bangalore and SPV has filed a writ petition before the High Court of Karnataka against the State of Karnataka, BWSSB and others challenging the D emand Notice and seeking order to, inter-alia, (i) quash the Demand Notice; and (ii) issue the no-objection certificate to ECPL. Pursuant to an order dated 1 6 January 2024, the High Court of Karnataka granted an ad-interim stay on the Demand Notice, in relation to certain charges amounting to Rs.1.72 million, and instruct ed ECPL to pay the remaining sum of monies to BWSSB, which has been paid. A similar order passed by the High Court of Karnataka has indicated above in (i) has been passed in this case. The SPV has filed an appeal against the order of the High Court. ESNP: A land owner has initiated arbitration under the Indian Arbitration and Conciliation Act, 1996 against Embassy Sponsor and the SPV with respect to dis putes arising from the Co-Development Agreement executed between the parties on account of delays in execution of the works. The land owner has filed statem ent of claims wherein they have claimed an amount of Rs. 137.56 million along with interest at the rate of 15% per annum from the Embassy Sponsor and the SPV together, in relation to the construction delays resulting in losses towards rental income. The SPV has filed the statement of defence against the claims made by th e landowner. The land owner has filed its rejoinder on 31 December 2025, reiterating its position under the statement of claims. The parties have filed their affida vits of admission / denial of documents and the Embassy Sponsor and the SPV have filed its objections to the landowner's request to produce documents. The hearing on objec tions concluded on April 23, 2026 and the land owner dropped its document production requests against the SPV and certain document production requests agai nst the Embassy Sponsor were allowed. Certain SPVs (MPPL, VTPL, ESNP) have received orders from GST authorities under Sections 73/74 restricting input tax credit (ITC) on construction-r elated expenses. The SPVs are engaged in leasing of commercial office spaces and have availed such ITC on the basis that the expenses are incurred in furtherance of busin ess. These orders restricting ITC are not tenable as it is not in line with the principle laid down by Hon’ble Supreme Court ruling in Safari Retreats and SPVs have not utilized the ITC. Further, the penalty levied is unlikely to be sustained, given the interpretational, industry-wide nature of the issue and full dis closure to the authorities. The respective SPVs have filed writ petitions before the Hon’ble High Court under the relevant jurisdiction challenging the said orders and have rece ived stay on the recovery of demand. In the case of ESNP, a favourable order has been passed by the Hon’ble Madras High Court, whereby the matter has been remanded to the lower authority for fresh consideration in accordance with the principles laid down by the Hon’ble Supreme Court in Safari Retreats. The Group had to meet export obligations in relation to EPCG credits availed during previous years for its hotel operations, however, the Group couldn ’t fulfil the export obligations in certain cases. The Group has received extension for two years and can seek additional yearly extension by paying composite fee. The Group will have future liability if it is not able to meet these obligations or obtain further extension, which is not quantifiable as at the balance sheet date. As at the balance sheet date, the Group has not received any demand towards the same. ECPL: i) SPV has received a demand note dated 16 June 2020 from the Bangalore Water Supply and Sewerage Board ("BWSSB") for a payment of total charges amountin g to Rs.25.69 million in relation to issuance of a no-objection certificate for a proposed project commercial building on land situated at Venkatala Vi llage, Yelahanka Hobli, Bangalore North Taluk, Bangalore and SPV has filed a writ petition before the Karnataka High Court against State of Karnataka, Bangalore Water Supply and Sewerage Board and others challenging inter-alia, the demand note against SPV seeking to, inter-alia, (i) quash the demand notice; and (ii) issue of n o-objection certificate to SPV. The High Court of Karnataka granted an ad- interim stay dated 13 November, 2020 on the demand notice issued by BWSSB in relation to ce rtain charges amounting to Rs.22.49 million and instructed SPV to pay the prescribed fee for issuance of no-objection certificate and directed BWSSB to iss ue NOC by accepting Administration Fees & Scrutiny Fees amounting to Rs.3.2 million and the said demand notice will be subject to outcome of the Writ Petition. T he aforesaid Rs.3.2 million was paid on 15 December 2020 to BWSSB and the NOC in relation to same has been received. The High Court of Karnataka has passed an order date d 22 April 2024, wherein it has been held that the Advance probable prorata charges and treated water charges for construction are upheld and the benefic iary capital contribution charges and greater Bangalore water sewage project charges are held to be illegal. The SPV has filed an appeal against the order o f the High Court. A notice dated 18 March 2025 has been issued by BWSSB ("Notice") requesting SPV to make payments amounting to (i) 15% of the advance probable pro r ata charges amounting to Rs.8.41 million and (ii) beneficiary capital contribution charges amounting to Rs.14.08 million. The SPV is in the process of fi ling an appeal against the Notice. Page 24
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I. A. Parties to Embassy Office Parks REIT Embassy Property Developments Private Limited - Co-Sponsor BRE/ Mauritius Investments - Co-Sponsor Embassy Office Parks Management Services Private Limited - Manager Axis Trustee Services Limited - Trustee SG Indian Holding (NQ) Co. I Pte. Ltd. BREP Asia SG Oxygen Holding (NQ) Pte Ltd BRE/Mauritius Investments II BREP Asia HCC Holding (NQ) Pte Ltd. BREP NTPL Holding (NQ) Pte Ltd BREP VII HCC Holding (NQ) Pte Ltd. BREP VII NTPL Holding (NQ) Pte Ltd BREP VII SG Indian Holding (NQ) Co II Pte. Ltd. BREP VII SG Oxygen Holding (NQ) Pte Ltd BREP Asia SG Indian Holding (NQ) Co II Pte. Ltd. BREP GML Holding (NQ) Pte Ltd India Alternate Property Limited BREP VII GML Holding (NQ) Pte Ltd BREP Asia SBS HCC Holding (NQ) Limited (Upto 10 March Directors & KMPs of the Manager (Embassy Office Parks Management Services Private Limited) Directors KMPs Jitendra Virwani Amit Shetty - CEO (w.e.f 01 August 2025) Vivek Mehra** Ritwik Bhattacharjee - CEO (Interim) (w.e.f 07 November 2024 upto 31 July 2025) Dr.Anoop Kumar Mittal Abhishek Agrawal - CFO Dr.Ranjan Pai** Vinitha Menon - Head - Compliance Officer and Company Secretary Aditya Virwani Dr.Punita Kumar Sinha Arvind Kathpalia (w.e.f 04 June 2024 upto 08 October 2025)* Arvind Kathpalia (w.e.f 13 November 2025) Prabhakar Kalavacherla (w.e.f 16 February 2026) B. Joint Venture Golflinks Software Park Private Limited C. Other related parties with whom the transactions have taken place during the period/year Technique Control Facility Management Private Limited Babbler Marketing Private Limited JSM Corporation Private Limited Snap Offices Private Limited Embassy One Developers Private Limited Axis Bank Limited - Promoter of Trustee Lounge Hospitality LLP Next Level Experiences LLP Wisdomworld Projects Private Limited Miracle Coatings Private Limited Embassy Developments Limited Embassy Shelters Private Limited Global Facade Solutions Embassy Services Private Limited FIFC Condominium VTV Infrastructure Management Private Limited RBS Rugby Sports Private Limited Paledium Security Services LLP Mac Charles (India) Limited EPDPL Coliving Operations Private Limited Embark Services Private Limited (Formerly known as EmbarkGCC Services Private Limited) Embassy Charitable Trust * Ceased to be a unitholder nominee director w.e.f 08 October 2025 and subsequently has been appointed as Independent director w.e.f 13 November 2025. ** Ceased to be Independent Directors w.e.f 30 September 2026. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Statement of Related party disclosures List of related parties BRE/ Mauritius Investments - Co-Sponsor Wework India Management Limited Page 25
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Statement of Related party disclosures (continued) (all amounts in Rs. million unless otherwise stated) II Related party transactions during the period/year Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Property Management fees Embassy Office Parks Management Services Private Limited 275.83 271.09 227.57 546.92 453.67 967.68 REIT Management fees Embassy Office Parks Management Services Private Limited 76.17 72.37 65.99 148.54 129.52 282.87 Secondment fees Embassy Office Parks Management Services Private Limited 0.50 0.50 0.48 1.00 0.95 1.90 Trustee fees Axis Trustee Services Limited 1.63 1.62 1.63 3.25 3.25 6.49 Distribution paid Embassy Property Developments Private Limited 457.08 472.60 421.30 929.68 833.20 1,769.36 Purchase of Investment Properties Babbler Marketing Private Limited 40.85 57.13 11.03 97.98 22.54 78.55 Global Facade Solutions 4.82 6.09 6.15 10.91 8.14 18.49 Miracle Coatings Private Limited 3.39 4.98 11.58 8.37 16.54 21.18 Technique Control Facility Management Private Limited 0.50 3.87 1.80 4.36 4.05 6.32 Wework India Management Limited - - - - - 223.89 EPDPL Coliving Operations Private Limited - 5.90 - 5.90 - - Paledium Security Services LLP 1.97 2.25 1.40 4.22 1.42 3.96 JSM Corporation Private Limited - - - - - 4.91 Project cost capitalised Embassy Property Developments Private Limited 73.10 68.82 93.95 141.92 177.53 311.24 Embassy Services Private Limited 42.82 11.83 10.68 54.66 11.18 73.05 Capital advances paid FIFC Condominium 1.62 1.62 1.08 3.23 3.24 6.47 JSM Corporation Private Limited - - - - 10.00 10.00 Wework India Management Limited - 31.39 - 31.39 - - Babbler Marketing Private Limited - 0.78 - 0.78 - - Common area maintenance Embassy Services Private Limited 212.79 208.11 178.79 420.90 355.36 712.67 FIFC Condominium 19.45 19.45 21.60 38.89 40.45 79.34 Paledium Security Services LLP - (1.76) 35.38 (1.76) 64.10 140.00 Golflinks Software Park Private Limited 3.67 3.67 3.45 7.34 6.90 13.80 Wework India Management Limited** 15.45 14.37 11.95 29.82 25.31 56.27 Lounge Hospitality LLP** 6.29 6.17 7.06 12.46 14.11 32.50 Technique Control Facility Management Private Limited - (22.96) 253.73 (22.96) 470.37 977.41 Repairs and maintenance- building Embassy Services Private Limited 15.39 4.83 - 20.22 - - Repairs and maintenance - others Lounge Hospitality LLP - - 12.70 - 12.70 19.92 Babbler Marketing Private Limited 0.54 0.55 1.68 1.09 2.23 3.34 Miracle Coatings Private Limited - - - - - 0.08 Power and fuel expenses Mac Charles (India) Limited 9.36 12.72 18.88 22.08 34.20 72.17 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 **Includes 10% management fee on business conducting agreement with Wework India Management Limited and Lounge Hospitality LLP. Page 26
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Statement of Related party disclosures (continued) (all amounts in Rs. million unless otherwise stated) II Related party transactions during the period/year Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Legal and professional charges Embassy Services Private Limited 8.36 4.94 6.87 13.30 10.31 24.47 Embark Services Private Limited 8.40 - - 8.40 - - Technique Control Facility Management Private Limited 6.13 2.02 3.08 8.15 6.08 13.94 Security charges Paledium Security Services LLP - (0.45) 7.55 (0.45) 18.92 38.37 Trademark and license fees Embassy Shelters Private Limited 0.36 0.35 0.36 0.71 0.72 1.42 Amount billed Wework India Management Limited* 37.58 36.43 38.06 74.00 84.79 171.04 Lounge Hospitality LLP 3.57 4.64 5.50 8.21 9.56 15.04 Rental and maintenance income Wework India Management Limited 359.11 334.75 325.32 693.87 640.24 1,388.94 Lounge Hospitality LLP 2.57 0.75 1.55 3.32 2.99 5.50 FIFC Condominium 1.58 1.58 1.58 3.17 3.17 6.34 Embassy Services Private Limited 1.74 1.74 1.99 3.49 3.73 7.22 Snap Offices Private Limited 12.99 12.99 13.48 25.98 26.37 52.35 Embassy Developments Limited 56.42 54.55 15.09 110.97 30.18 64.12 Embassy Office Parks Management Services Private Limited 22.54 40.77 13.33 63.31 26.70 55.77 Embark Services Private Limited 58.20 44.67 - 102.88 - 10.66 JSM Corporation Private Limited 3.44 3.20 - 6.64 - 5.39 Income from generation of renewable energy from the tenants of Golflinks Software Park Private Limited 59.42 62.38 29.78 121.80 73.48 178.14 Revenue - Room rentals, sale of food and beverages Jitendra Virwani 0.15 0.22 0.27 0.37 0.42 26.49 Embassy Property Developments Private Limited 0.39 1.47 0.94 1.86 7.19 17.32 Embassy Office Parks Management Services Private Limited 1.46 1.92 0.74 3.38 3.28 5.05 Embassy Services Private Limited 0.05 0.68 - 0.73 0.01 1.04 Wisdomworld Projects Private Limited 1.81 1.29 0.44 3.10 1.69 5.29 Embassy Developments Limited 1.42 3.44 0.24 4.87 1.39 4.59 Embassy One Developers Private Limited 3.82 0.05 0.13 3.87 1.15 1.42 Wework India Management Limited - - 0.16 - 0.29 1.66 Others 4.05 0.68 0.34 4.73 1.28 8.90 Other operating income Embassy Property Developments Private Limited - - - - - 41.85 Golflinks Software Park Private Limited 25.58 25.58 22.24 51.16 44.49 88.97 Interest income Golflinks Software Park Private Limited 70.50 72.00 76.33 142.50 154.03 302.41 Axis Bank Limited 0.62 0.67 6.10 1.29 12.74 14.43 Lease deposits received Wework India Management Limited 34.21 31.91 15.98 66.12 17.07 54.92 Embassy Developments Limited 9.80 - - 9.80 9.80 9.80 Embassy Office Parks Management Services Private Limited - - - - 12.23 12.23 Embark Services Private Limited 8.39 - - 8.39 - 40.99 *Of the total billed, for the half year ended 30 September 2026 an amount of Rs. 4.70 million (30 September 2025: Rs. 1.18 million) is accrued as revenue f rom Embassy Develop ments Limited based on the bu siness conducting agre ement entered between Wework India Management Limited and Quadron Business Parks Private Limited. Page 27
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Statement of Related party disclosures (continued) (all amounts in Rs. million unless otherwise stated) II Related party transactions during the period/year Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Lease deposits paid Wework India Management Limited - - - - - 3.51 Redemption of investment in debentures Golflinks Software Park Private Limited 143.42 140.41 131.80 283.83 260.81 532.88 Long term borrowings availed Axis Bank Limited 2,004.25 43.80 - 2,048.05 9,302.47 11,483.80 Long term borrowings repaid Axis Bank Limited - 80.46 370.24 80.46 370.24 389.05 Issue expenses of borrowings Axis Bank Limited - 1.18 - 1.18 8.00 8.00 Redemption of Non-convertible debentures Axis Bank Limited - 10,250.00 - 10,250.00 - 2,600.00 Interest expense (including capitalised) Axis Bank Limited 251.69 239.86 204.41 491.55 255.70 700.09 Bank charges Axis Bank Limited 4.73 3.58 2.23 8.31 5.72 7.16 Interest on Non-convertible debentures Axis Bank Limited 76.68 122.41 309.32 199.09 639.48 1,235.62 Issue expenses of non-convertible debentures Axis Bank Limited - - 22.86 - 22.86 22.86 Investment in fixed deposits Axis Bank Limited 13.00 26.00 126.00 39.00 488.56 653.18 Redemption of fixed deposits Axis Bank Limited 20.80 26.05 131.34 46.85 271.97 759.60 Reimbursement of expenses (received)/ paid FIFC Condominium (1.34) - - (1.34) - (2.68) Technique Control Facility Management Private Limited 0.12 (0.12) 4.19 - 8.22 8.94 Axis Trustee Services Limited 2.19 0.08 3.56 2.27 3.56 5.02 Embassy Services Private Limited 567.25 498.66 7.91 1,065.90 8.99 71.53 Babbler Marketing Private Limited - - (0.16) - - - Others 0.09 - - 0.09 - - Marketing and advertising expenses Next Level Experiences LLP 1.46 5.00 (2.04) 6.46 12.58 47.98 Corporate Social Responsibility expenses Embassy Charitable Trust 2.30 - - 2.30 - - Liabilities no longer required written back VTV Infrastructure Management Private Limited - - - - 0.28 0.28 Note: During the period ended 30 September 2026, Embassy REIT has sponsored (through provision of hospitality services) Rs.1.75 million to RBS Rugby Sports Private Limited. Page 28
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Statement of Related party disclosures (continued) III. Related party balances (all amounts in Rs. million unless otherwise stated) Particulars As at 30 September 2026 As at 30 September 2025 Fixed deposits Axis Bank Limited 40.64 368.19 Other non-current assets - capital advance FIFC Condominium 16.39 18.50 Babbler Marketing Private Limited 9.57 16.15 Miracle Coatings Private Limited 0.76 - JSM Corporation Private Limited - 28.21 Non-Current Investments - in Debentures Golflinks Software Park Private Limited 5,934.20 6,539.25 Other non-current financial assets - Security deposits Embassy One Developers Private Limited 5.36 5.36 Lounge Hospitality LLP 5.50 5.50 Current Investments - in Debentures Golflinks Software Park Private Limited 605.06 555.91 Trade receivables Embassy Office Parks Management Services Private Limited 59.19 46.34 Embassy Developments Limited 44.18 18.75 Embark Services Private Limited 26.34 - Jitendra Virwani 0.73 0.60 Embassy Property Developments Private Limited 1.96 5.19 Lounge Hospitality LLP 8.55 16.89 Embassy One Developers Private Limited 5.91 1.76 Wisdomworld Projects Private Limited 3.10 6.47 Wework India Management Limited 9.51 0.11 JSM Corporation Private Limited 10.56 - Others 3.32 2.30 Unbilled revenue Golflinks Software Park Private Limited 26.33 10.58 Snap Offices Private Limited 0.34 0.30 Embassy Services Private Limited 0.26 0.15 Wework India Management Limited 18.53 18.57 Embassy Developments Limited 7.64 13.24 Embassy Office Parks Management Services Private Limited 5.99 - Lounge Hospitality LLP 9.10 28.37 Embark Services Private Limited 8.40 - JSM Corporation Private Limited 0.35 - Other current financial assets - other receivables from related party Embassy Property Developments Private Limited - 53.48 Embassy One Developers Private Limited - 6.22 Golflinks Software Park Private Limited 1.73 2.71 Other current assets - Advance for supply of goods and rendering of services Embassy Office Parks Management Services Private Limited 24.79 - Next Level Experiences LLP 0.38 2.45 Non-convertible debentures - non-current Axis Bank Limited 3,800.00 16,650.00 Non-convertible debentures - current maturities Axis Bank Limited 100.00 100.00 Long term borrowings Axis Bank Limited 14,679.68 11,779.59 Short term borrowings Axis Bank Limited 1,318.62 98.36 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Page 29
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Statement of Related party disclosures (continued) III. Related party balances (all amounts in Rs. million unless otherwise stated) Particulars As at 30 September 2026 As at 30 September 2025 Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Trade payables Embassy Services Private Limited 67.34 134.52 Technique Control Facility Management Private Limited 0.04 23.17 Embassy Office Parks Management Services Private Limited 224.12 65.49 FIFC Condominium 12.87 18.04 Mac Charles (India) Limited 1.16 4.41 Golflinks Software Park Private Limited 5.34 - Embark Services Private Limited 9.07 - Lounge Hospitality LLP 6.64 12.70 Others 0.41 5.36 Current liabilities - Capital creditors for purchase of fixed assets Embassy Property Developments Private Limited 225.51 85.63 Technique Control Facility Management Private Limited 2.00 1.92 Embassy Services Private Limited 10.50 33.75 Miracle Coatings Private Limited 7.46 44.09 Babbler Marketing Private Limited 29.58 32.42 Global Facade Solutions 3.70 3.92 Wework India Management Limited 13.22 - Paledium Security Services LLP 0.05 1.63 Other current financial liabilities Embassy Services Private Limited 676.67 71.96 Technique Control Facility Management Private Limited 6.71 179.05 Embassy Office Parks Management Services Private Limited 140.94 76.24 Paledium Security Services LLP - 32.86 Lounge Hospitality LLP 13.64 47.10 Next Level Experiences LLP 1.27 0.01 Babbler Marketing Private Limited 0.12 0.48 FIFC Condominium 2.34 3.29 Wework India Management Limited 24.61 10.97 Mac Charles (India) Limited 3.23 - Golflinks Software Park Private Limited 0.86 - Other current liabilities - Advance from customers Embassy Services Private Limited 0.55 0.55 Lounge Hospitality LLP 0.52 - Other current financial liabilities - Security deposits Golflinks Software Park Private Limited 80.00 80.00 Lease deposits Wework India Management Limited* 497.51 397.06 Snap Offices Private Limited 11.31 11.31 Embassy Office Parks Management Services Private Limited 25.87 25.87 Embark Services Private Limited 49.38 - Embassy Developments Limited 34.89 25.09 *Of the above, MPPL has provided a guarantee of Rs.179.46 million to a tenant (sub-lessee) of Wework India Management Limited (Wework), for the securi ty deposits paid by the sub-lessee to Wework. This guarantee has been provided based on the specific request of the sub-lessee and is backed by an independent bank guarantee received by MPPL for a similar amount and duration on behalf of Wework. Note 1: Outstanding balances at the period/year end, arising from transactions with related parties under ordinary course of the business, are unsec ured and settlement occurs in cash as per agreed terms. Note 2: During the previous year ended 31 March 2025, Embassy Property Development Private Limited (EPDPL) sought registration of a demerger order wh ich approved the demerger of Embassy Splendid TechZone from EPDPL to ESNP. Pursuant to a demand for payment of stamp duty on the demerger order and subsequent issuance of an order for impounding the demerger, EPDPL filed three writ petitions before the High Court of Madras. Interim relief was sought by EPDPL and granted by the High Court of Madras whereby the release of the demerger order was directed subject to the payment of Rs.75.00 million. The amount was paid by ESNP to the relevant a uthority on behalf of EPDPL. Further, EPDPL had confirmed that it will ensure the repayment of the deposit along with the prescribed interest to ESNP, on receipt of the order of the court. On 17 April 2025, the High Court of Madras passed an order allowing the writ petitions filed by EPDPL and deposit to be refunded within four weeks’ time. EPDPL filed a contempt petition before the High Court of Madras against non-release of the deposit as per the terms of the order dated 17 April 2025. On 2 September 20 25, the Inspector General for Registration filed three writ appeals against the order dated 17 April 2025 before the Division Bench of the High Court of Madras . The Division Bench of the High Court of Madras has vide order dated 28 November 2025 granted an interim stay against the order dated 17 April 2025 and the matter is pending for hearing. The contempt petition has now been closed on December 19, 2025 without prejudice to the rights of EPDPL to revive the contempt petition based on the resu lt of the writ appeals. Page 30
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1 Security Cover: (in times) Particulars As at 30 September 2026 As at 30 September 2025 Embassy Office Parks REIT Series IV NCD NA 2.61 Embassy Office Parks REIT Series V NCD - Series B 3.27 2.96 Embassy Office Parks REIT Series VI NCD 4.48 4.29 Embassy Office Parks REIT Series VIII NCD 6.57 3.37 Embassy Office Parks REIT Series XI NCD 2.85 2.23 Embassy Office Parks REIT Series XII NCD 2.14 2.66 Embassy Office Parks REIT Series XIII NCD - Series A 2.59 2.26 Embassy Office Parks REIT Series XIII NCD - Series B 2.59 2.26 Embassy Office Parks REIT Series XIV 2.14 2.66 Embassy Office Parks REIT Series XV 2.51 2.20 Embassy Office Parks REIT Series XVI 2.83 NA Embassy Office Parks REIT Series XVII 2.14 NA Embassy Office Parks REIT Series XVIII 2.22 NA 2 (all amounts in Rs. million unless otherwise stated) Particulars For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 Asset cover ratio (refer a below) 3.04 3.02 3.06 3.04 3.06 3.15 Debt - equity ratio (refer b below) 1.18 1.15 0.95 1.18 0.95 1.08 Debt service coverage ratio (refer c below) 2.58 2.61 2.49 2.59 2.45 2.57 Interest-service coverage ratio (refer d below) 2.58 2.61 2.49 2.59 2.45 2.57 Outstanding redeemable preference shares^ - - - - - - Debenture redemption reserve - - 1,025.00 - 1,025.00 1,025.00 Capital redemption reserve^ - - - - - - Net worth (refer e below) 205,921.58 203,592.66 220,603.25 205,921.58 220,603.25 207,801.79 Net profit/(loss) after tax 8,310.14 1,952.18 2,321.79 10,262.32 3,873.48 3,385.45 Earnings per unit - Basic 8.77 2.06 2.45 10.83 4.09 3.57 Earnings per unit - Diluted 8.77 2.06 2.45 10.83 4.09 3.57 Current Ratio (in times) (refer f below) 0.30 0.26 0.29 0.30 0.29 0.22 Long term debt to working capital (in times) (2.85) (2.92) (4.12) (2.85) (4.12) (3.08) Bad debts to Account receivable ratio (in times) (refer h below) - - 0.03 - 0.03 0.04 Current liability ratio (in times) (refer i below) 0.28 0.26 0.21 0.28 0.21 0.24 Total debts to total assets (in times) (refer j below) 0.47 0.46 0.43 0.47 0.43 0.45 Debtors’ turnover (in times) (refer k below) 12.00 12.09 11.73 24.26 25.91 50.64 Inventory turnover (refer l below) 3.27 2.44 2.47 5.73 4.95 11.02 Operating margin percent (refer m below) 82% 82% 82% 82% 82% 82% Net Operating income (in Rs. million)** 10,694.96 10,204.84 9,273.12 20,899.80 17,990.70 37,601.54 Net profit margin percent (refer n below) 63% 15% 20% 40% 17% 7% Distribution per unit (refer o below) 7.07 6.31 6.51 13.38 12.31 25.28 Formulae for computation of ratios are as follows:- a) Asset cover ratio = Gross asset value as computed by independent valuers / Total borrowings (1) b) Debt equity ratio = Total borrowings(1)/ Unitholders' Equity(2) c) Debt Service Coverage Ratio = Earnings before share of profit of equity accounted investee, finance costs, depreciation, amortisation, exceptio nal item and Tax / [Finance cost (net of capitalisation and excluding interest on lease deposit and interest on lease liability) + Principal repayments made during the period to the extent not refinanced] d) Interest Service Coverage Ratio = Earnings before share of profit of equity accounted investee, finance costs, depreciation, amortisation, exce ptional item and Tax / Finance cost (net of capitalisation and excluding interest on lease deposit and interest on lease liability) (1) Total borrowings = Long-term borrowings + Short-term borrowings (2) Unitholder's Equity = Unit Capital + Other equity + Distribution (Repayment of Capital) (3) Long term debt = Long term borrowings (excluding current maturities of long term debt) + Lease liabilities (Non current) ^ Not applicable ** refer Consolidated Segment wise Revenue and Results for definition i) Current liability ratio = Current liabilities / Total liabilities j) Total debts to total assets = Total borrowings / Total assets k) Debtors’ turnover = Revenue from operations / Average trade receivables l) Inventory turnover = Cost of Materials consumed / Average Inventory m) Operating margin percent = Net Operating Income** / Revenue from Operations n) Net profit margin percent = Profit after tax / Total income o) Distribution per unit = Total distribution / no. of units Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure required as per Paragraph 4.18.1 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 rel ating to secured, listed non-convertible debentures Disclosure required as per Paragraph 4.18.2 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 and Chapter XVII, Part III of SEBI master circular no. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025 r/w Regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 e) Net worth = Unit capital + Other equity + Distribution (Repayment of Capital) f) Current ratio = Current Assets / Current liabilities g) Long term debt to working capital = Long term debt(3) / working capital (i.e., Current assets less current liabilities) h) Bad debts to Account receivable ratio = Bad Debts (including provision for doubtful debts) / Average trade receivables Page 31
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3 (all amounts in Rs. million unless otherwise stated) Name of Debt (NCDs) As at 30 September 2026 As at 30 September 2025 - 3,000.00 11,000.00 11,000.00 10,000.00 10,000.00 5,000.00 5,000.00 10,000 (30 September 2025: 10,000) Embassy REIT Series VI , Non-Convertible debentures (NCD) 2022, face value of Rs.1,000,000 each The NCD's are secured against each of th e following in favour of the Security Trustee (holding for the benefit of the Debenture Trustee and ranking pari passu inter se the Debenture Holders): 1. A sole and exclusive first ranking pari passu pledge created by MPPL over the 50% shareholding of GLSP. 2. A sole and exclusive first ranking pari passu pledge created by Embassy REIT over all the debentures issued by GLSP ("GLSP NCDs") 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over the identified receivables/ cashflows of GLSP NCDs issued by GLSP. 4. A first ranking pari passu charge by way of hypothecation created by MPPL over the identified receivables from GLSP. 5. A corporate guarantee issued by MPPL. 50,000 (30 September 2025: 50,000) Embassy REIT Series VIII Non-Convertible debentures (NCD) 2023, face value of Rs.100,000 each The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking charge by way of mortgage over commercial development along with undivided share of approximately 0.896 Acres (39,052.04 sq. ft) (i.e., 15.96% in the larger property) totally admeasuring to 1,94,947.56 sq. ft along with 254 car parking associated with the commercial development known as Embassy One. 2. A first ranking pari passu charge by way of mortgage created by SIPL on the constructed, under-construction buildings, erections, constructions of every description and related parcels identified as Block 9, admeasuring 1.1 million sq. ft and forming part of the development known as Embassy TechVillag e to the extent of Rs.1,500 million (SIPL Guarantee Amount). 3. A first ranking pledge created by Embassy REIT over its shareholding in QBPL. 4. A first ranking charge by way of hypothecation created by QBPL including over receivables. 5. A first ranking charge by way of hypothecation by SIPL including over identified bank accounts and receivables to the extent of SIPL Guarantee Amount. 6. A corporate guarantee issued by QBPL. 7. A corporate guarantee issued by SIPL upto an extent of SIPL Guarantee amount. 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from SIPL. 4. A first ranking pari passu charge by way of hypothecation created by SIPL over all current and future movable assets, including identified bank accounts and receivables. 5. A corporate guarantee issued by SIPL. Debt at Face value 11,000 (30 September 2025: 11,000) Embassy REIT Series V - Series B, Non- Convertible debentures (NCD) 2021, face value of Rs.1,000,000 each The NCD's are secured against each of th e following in favour of the Security Trustee (holding for the benefit of the Debenture Trustee and ranking pari passu inter se the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Magnolia (Block B), Pine (Block L5), Mountain Ash (Block H2) and Silver Oak (Block E2) having an aggregate leasable area of 18,78,315 sq. ft and land admeasuring 10.508 acres forming part of the development known as Embassy Manyata Business Park. 2. A first ranking exclusive charge by way of mortgage created by QBPPL on the constructed buildings and related parcels identified as Block IT 1 and Block IT 2 having aggregate leasable area of 42,163 sq. m and underlying land situated at Embassy Qubix, Pune. 3. A first ranking pari passu pledge created by Embassy REIT over its s hareholding in MPPL; known as “Secured SPV”. 4. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over the identified receivables from MPPL. 5. A first ranking pari passu charge by way of hypothecation created by MPPL over identified bank accounts and receivables. 6. A first ranking exclusive charge by way of hypothecation created by QBPPL over identified receivables. 7. A corporate guarantee issued by MPPL. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure required as per Paragraph 4.18.1 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 rel ating to secured, listed non- convertible debentures Security terms Nil (30 September 2025: 3,000 Embassy REIT Series IV, Non- Convertible debentures (NCD) 2021, face value of Rs.1,000,000 each The NCD's are secured against each of th e following in favour of the Security Trustee (holding for the benefit of the Debenture Trustee and ranking pari passu inter se the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage created by SIPL on the constructed, under-construction buildings, erections, constructions of every description and related parcels identified as Block 9, admeasuring 1.1 million sq. ft and forming part of the development known as Embassy TechVillage. 2. A first ranking pari passu pledge created by the Embassy REIT over its shareholding in SIPL; known as the "Secured SPV". Page 32
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3 (all amounts in Rs. million unless otherwise stated) Name of Debt (NCDs) As at 30 September 2026 As at 30 September 2025 Debt at Face value Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure required as per Paragraph 4.18.1 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 rel ating to secured, listed non- convertible debentures Security terms 9,000.00 9,000.00 10,000.00 10,000.00 15,000.00 15,000.00 5,000.00 5,000.00 50,000 (30 September 2025: 50,000) Embassy REIT Series XIII - Series B, Non- Convertible debentures (NCD) 2025, face value of Rs.1,00,000 each The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Ebony (Block G2) having an aggregate leasable area of 4,03,256 sq. ft and Hilton Hotel with 266 keys and Hilton Garden Inn with 353 keys along with convention Centre forming part of the development known as Embassy Manyata Business Park. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in OBPPL. 3. A first ranking charge by way of hypothecation created by Embassy REIT over identified receivables from OBPPL. 4. A first ranking charge by way of hypothecation created by MPPL over identified receivables. 5. A first ranking charge by way of hypothecation created by OBPPL over identified bank accounts and receivables. 6. A corporate guarantee issued by MPPL & OBPPL to the extent of 50% each of the aggregate value of debenture outstanding. 90,000 (30 September 2025: 90,000) Embassy REIT Series XI, Non- Convertible debentures (NCD) 2024, face value of Rs.100,000 each The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking charge by way of mortgage created on the constructed buildings and related parcels identified as Tower A, Tower B and Tower C, having aggregate leasable area of 1,186,149 sq. ft and underlying land situated at Embassy 247, Mumbai. 2. A first ranking pledge created by Embassy REIT over its shareholding in VCPPL 3. A first ranking charge by way of hypothecation created by Embassy REIT over identified receivables from VCPPL. 4. A first ranking charge by way of hypothecation created by VCPPL over identified bank accounts and receivables. 150,000 (30 September 2025: 150,000) Embassy REIT Series XIII - Series A, Non- Convertible debentures (NCD) 2025, face value of Rs.1,00,000 each The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Ebony (Block G2) having an aggregate leasable area of 4,03,256 sq. ft and Hilton Hotel with 266 keys and Hilton Garden Inn with 353 keys along with convention Centre forming part of the development known as Embassy Manyata Business Park. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in OBPPL 3. A first ranking charge by way of hypothecation created by Embassy REIT over identified receivables from OBPPL. 4. A first ranking charge by way of hypothecation created by MPPL over identified receivables. 5. A first ranking charge by way of hypothecation created by OBPPL over identified bank accounts and receivables. 6. A corporate guarantee issued by MPPL & OBPPL to the extent of 50% each of the aggregate value of debenture outstanding. 100,000 (30 September 2025: 100,000) Embassy REIT Series XII, Non- Convertible debentures (NCD) 2024, face value of The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage over multi-storied office building known by the name "Express Towers" with leasable are a of 475,587 sq.ft al ong with underlying freehold land admeasuring 5,918.11 sq. m. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in EPTPL & IENMPL. 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from EPTPL and IENMPL 4. A first ranking pari passu charge by way of hypothecation created by EPTPL & IENMPL over identified bank accounts and receivables. Page 33
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3 (all amounts in Rs. million unless otherwise stated) Name of Debt (NCDs) As at 30 September 2026 As at 30 September 2025 Debt at Face value Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure required as per Paragraph 4.18.1 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 rel ating to secured, listed non- convertible debentures Security terms 7,500.00 7,500.00 20,000.00 20,000.00 14,000.00 - 8. A corporate guarantee issued by ETPL & MPPL to the extent of 50% each of the aggregate value of debentures outstanding. 200,000 (30 September 2025: 20,000) Embassy REIT Series XV, Non-Convertible debentures (NCD) 2025, face value of Rs.1,00,000 each The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage created by VTPL on the constructed buildings and related parcels identified as Block 2 having an aggregate leasable area of 19,15,325 sq. ft and forming part of the development known as Em bassy TechVillage together with portion o f land admeasuri ng 12.93 acres on which the aforesaid buildings are constructed, to the extent of 50% of the aggregate value of debenture outstanding. 2. A first ranking pari passu charge by way of mortgage created by VTPL on the constructed buildings and related parcels identified as Block 5 having a total built up area of 28,51,991 sq. ft and forming part of the development known as Embassy TechV illage together with portion of land a dmeasuring 13.45 acres on which the aforesaid buildings are constructed, to the extent of 50% of the aggregate value of debenture outstanding. 3. A first ranking pari passu pledge created by Embassy REIT over its shareholding in VTPL. 4. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from VTPL. 5. A first ranking par i passu charge by way of hypothecation created by VT PL over identified bank accounts and receivables of Block 2, to the extent of 50% of the aggregate value of debenture outstanding. 6. A first ranking pari passu charge by way of hypothecation created by VTPL over identified bank accounts and receivables of Block 5, to the extent of 50% of the aggregate value of debenture outstanding. 7. A corporate guarantee issued by VTPL. 140,000 (30 September 2025: Nil) Embassy REIT Series XVI, Non- Convertible debentures (NCD) 2026, face value of Rs.1,00,000 each The NCD's are secured against each of the following in favour of Common Security Trustee/Security Trustee (Pari Passu) as applicable for the benefit of the Debenture Trustee and Debenture Holders: 1. A first ranking exclusive charge by way of mortgage created by ETPL over the two levels of basements, portion of ground and 1st floor and entire 2nd to 7th floors totally admeasuring 226,663 sq.ft, together with 54.2% undivided interest in the underlying land, common areas and voting rights in the building known as First International Financial Centre. 2. A first ranking exclusive charg e by way of mortgage created by MPPL on the commercial o ffice building (3 basement floors plus ground floor plus 19 upper floors) titled Block M3 Phase I - A cacia with a bu ilt up area of 1,50,787.44 sq. m, situated at Embassy Manyata Busines s Park, Bengaluru and a fi rst ranking pari passu charge vide mortgage over the underlying leasehold land. 3. A first ranking pari passu pledge created by Embassy REIT over its shareholding in ETPL and MPPL. 4. A first ranking exclusive charge by way of hypothecation created by Embassy REIT over the identified receivables from ETPL and DSRA Deposit. 5. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified current assets & bank accounts and identified receivables from MPPL. 6. A first ranking exclusive charge by way of hypothecation by ETPL over identified bank accounts and receivables. 7. A first ranking exclusive charge by way of hypothecation created by MPPL over identified bank accounts and receivables. 75,000 (30 September 2025: 75,000) Embassy REIT Series XIV, Non-Convertible debentures (NCD) 2025, face value of Rs.1,00,000 each The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage over multi-storied office building known by the name "Express Towers" with leasable are a of 475,587 sq.ft al ong with underlying freehold land admeasuring 5,918.11 sq. m. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in EPTPL & IENMPL 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from EPTPL and IENMPL 4. A first ranking pari passu charge by way of hypothecation created by EPTPL & IENMPL over identified bank accounts and receivables. Page 34
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3 (all amounts in Rs. million unless otherwise stated) Name of Debt (NCDs) As at 30 September 2026 As at 30 September 2025 Debt at Face value Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Disclosure required as per Paragraph 4.18.1 of SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 rel ating to secured, listed non- convertible debentures Security terms 7,000.00 - 10,000.00 - The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage created by MPPL on the constructed buildings and related parcels identified as Banyan (Block L1), Hazel (Block L3) and Jacaranda (Block C1) having an aggregate built up area of 1,64,430 sq. m, along with 2,036 car park spaces forming part of the development known as Embassy Manyata Business Park and a first ranking pari passu charge vide mortgage over the underlying land. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in MPPL. 3. A first ranking pari passu charge by way of hypothecation created by MPPL over identified bank accounts and receivables. 4. A corporate guarantee issued by MPPL. 70,000 (30 September 2025: Nil) Embassy REIT Series XVII, Non- Convertible debentures (NCD) 2026, face value of Rs.1,00,000 each 100,000 (30 September 2025: Nil) Embassy REIT Series XVIII, Non- Convertible debentures (NCD) 2026, face value of Rs.1,00,000 each (this space is intentionally left blank) The NCD's are secured against each of the following in favour of the Debenture Trustee (holding for the benefit of the Debenture Holders): 1. A first ranking pari passu charge by way of mortgage over multi-storied office building known by the name "Express Towers" with leasable are a of 475,587 sq.ft al ong with underlying freehold land admeasuring 5,918.11 sq. m. 2. A first ranking pari passu pledge created by Embassy REIT over its shareholding in EPTPL & IENMPL. 4. A first ranking pari passu charge by way of hypothecation created by EPTPL & IENMPL over identified bank accounts and receivables. 3. A first ranking pari passu charge by way of hypothecation created by Embassy REIT over identified receivables from EPTPL and IENMPL. Page 35
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4 Earnings per unit (all amounts in Rs. million unless otherwise stated) For the quarter ended 30 September 2026 For the quarter ended 30 June 2026 For the quarter ended 30 September 2025 For the half year ended 30 September 2026 For the half year ended 30 September 2025 For the year ended 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Profit after tax for calculating basic and diluted EPU 8,310.14 1,952.18 2,321.79 10,262.32 3,873.48 3,385.45 Weighted average number of Units (No. in million) 947.90 947.90 947.90 947.90 947.90 947.90 Earnings Per Unit - Basic (Rupees/unit) 8.77 2.06 2.45 10.83 4.09 3.57 - Diluted (Rupees/unit)* 8.77 2.06 2.45 10.83 4.09 3.57 * The Trust does not have any outstanding dilutive potential instruments. 5 Investment Management Fees Property Management Fee REIT Management Fees Secondment fees 6 (a) Details of utilisation of proceeds of issue of Embassy REIT Series XVIII as at 30 September 2026 are as follows: Proposed utilisation Actual utilisation upto 30 September 2026 Unutilised amount as at 30 September 2026 10,000.70 - 10,000.70 Total 10,000.70 - 10,000.70 (b) Details of utilisation of proceeds of issue of Embassy REIT Series XVII as at 30 September 2026 are as follows: Proposed utilisation Actual utilisation upto 30 September 2026 Unutilised amount as at 30 September 2026 7,002.41 7,002.41 - Total 7,002.41 7,002.41 - 7 Notes to the unaudited consolidated financial results for the quarter and half year ended 30 September 2026 (i) (ii) (iii) The following reflects the profit and unit data used in the basic and diluted EPU computation. Particulars The unaudited consolidated financial results have been prepared in accordance with recognition and measurement principles laid down in Indian Acco unting Standard (Ind AS) 34 "Interim Financial Reporting" as defined in Rule 2(1)(a) of the Companies (Indian Accounting Standards) Rules, 2015 (as amended), to the extent not i nconsistent with the SEBI (Real Estate Investment Trusts) Regulations, 2014 as amended from time to time including any guidelines and circulars issued there under read with SEBI master cir cular no. SEBI/HO/DDHS-PoD- 2/P/CIR/2025/99 dated 11 July 2025 (the “REIT regulations’), other accounting principles generally accepted in India and read with REIT Regulations. The unaudited consolidated financial results comprise of financial results of Embassy Office Parks REIT (the ‘Trust’ or the ‘Embassy REIT’ or the 'RE IT'), its subsidiaries namely Manyata Promoters Private Limited (‘MPPL'), Umbel Properties Private Limited (‘UPPL'), Embassy Energy Private Limited (‘EEPL’), Galaxy Square Private Limited (‘GSPL'), Quadron Business Park Private Limited (‘QBPL'), Qubix Business Park Private Limited (‘QBPPL'), Oxygen Business Park Private Limited (‘OBPPL'), Earnest Towers Private Limited (‘ETPL'), Vikhroli Corporate Park Private Limited (‘VCPPL'), Indian Express Newspapers (Mumbai) Private Limited (‘IENMPL'), Embassy Pune Techzone Private Limited ('EPTPL'), Vikas Telecom Privat e Limited ('VTPL'), Sarla Infrastructure Private Limited ('SIPL'), Embassy Construction Private Limited ('ECPL'), ESNP Property Builders and Developers Private Limited ('ESNP') and Elea nor Realty Holdings India Private Limited ('ERHIPL') (individually referred to as ‘Special Purpose Vehicle’ or ‘SPV’ and together referred to as ‘Embassy Office Parks Group’) and a Joint Venture namely Golflinks Software Park Private Limited ('GLSP') (also referred to as the Investment Entity). The SPVs are companies domiciled in India. ERHIPL was acquired on 02 March 2026 by Embassy REIT. ERHIPL has been consolidated from 01 March 2026, a date close to the acquisition date, as there are n o significant transactions or events that have occurred between 01 March 2026 and 02 March 2026 and the effect thereof is not considered to be material to the results for the year ended 31 March 2026. The unaudited consolidated financial results have been reviewed by the Audit Committee and approved for issue in accordance with resolution passed b y the Board of Directors of the Manager on behalf of the Trust on 28 October 2026. Repayment of existing debt availed by Embassy REIT and infusion of shareholder loans into SPVs for the purpose of refinancing of existing debt of the SPVs or for capital expenditure of the SPVs and payment of fees and expenses on the Issue. Pursuant to the Secondment Agreement dated 11 March 2019 and renewed agreement dated 25 November 2024, Manager is entitled to fees of Rs.0.10 million p er month in respect of certain employees of Manager being deployed to the Embassy Office Parks REIT in connection with the operation and management of the assets of the Embas sy REIT. The fees shall be subject to an escalation of 5% (five per cent) every financial year. Secondment fees for the quarter and half year ended 30 September 2026 amounts to Rs. 0.50 million (30 September 2025: Rs.0.48 million) and Rs.1.00 million (30 September 2025: Rs.0.95 million) respectively. There are no changes during the period in the methodol ogy for computation of secondment fees paid to Manager. Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 Basic EPU amounts are calculated by dividing the profit for the period/year attributable to Unitholders by the weighted average number of units outst anding during the period/year. Diluted EPU amounts are calculated by dividing the profit attributable to Unitholders by the weighted average number of units outstanding during the period/year plus the weighted average number of units that would be issued on conversion of all the potential dilutive instruments into Unit capital. Objects of the issue as per the prospectus Pursuant to the Investment Management Agreement dated 19 December 2023 as amended, Manager is entitled to fees @ 3% of the collection of Facility Renta ls per annum of the relevant property in respect to operations, maintenance, administration and management of the Holdco or the SPV, as applicable. The fees has been det ermined to meet the ongoing costs of the Manager to undertake the services provided to the Embassy REIT and its SPVs. Property Management fees for the quarter and half year ended 30 September 2026 amounts to Rs.275.83 million (30 September 2025: Rs.227.57 million) and Rs.546.92 million (30 September 2025: Rs.453.67 million) respectively. There are no c hanges during the period in the methodology for computation of fees paid to Manager. Pursuant to the Investment Management Agreement dated 19 December 2023, as amended, Manager is entitled to fees @ 1% of REIT Distributions which shall be payable either in cash or in Units or a combination of both, at the discretion of the Manager. The fees has been determined for undertaking management of the REIT and its investme nts. REIT Management fees accrued for the quarter and half year ended 30 September 2026 amounts to Rs.76.17 million (30 September 2025: Rs.65.99 million) and Rs.148.54 million (30 September 2025: Rs.129.52 million) respectively. There are no changes during the period in the methodology for computation of fees paid to Manager. Objects of the issue as per the prospectus Repayment of existing debt availed by Embassy REIT and infusion of shareholder loans into SPVs for the purpose of refinancing of existing debt of the SPVs or for capital expenditure of the SPVs and payment of fees and expenses on the Issue. Page 36
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Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 7 Notes to the unaudited consolidated financial results for the quarter and half year ended 30 September 2026 (continued) (iv) (v) (vi) (vii) (viii) (ix) (x) Settlement fees (xi) Sale of Assets Under the provisions of the REIT Regulations, Embassy Office Parks REIT is required to distribute to Unitholders not less than 90% of the net distribut able cash flows of Embassy Office Parks REIT for each financial year. Accordingly, a portion of the Unitholders’ funds contains a contractual obligation of the Trust to pay cash to the Unitho lders. Thus, in accordance with the requirements of Ind AS 32 – Financial Instruments: Presentation, the Unit Capital should have been classified as compound financial instrument whic h contains both equity and liability components. However, Paragraph 4.2.3 of Chapter 4 of the SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 issued under the REIT Regulations, require the Unit Capital in entirety to be presented/classified as “Equity”, which is at variance from the requirements of Ind AS 32. In order to comply with the afo resaid SEBI requirements, the Embassy Office Parks REIT has presented unit capital as equity in these financial results. Consistent with Unitholders’ funds being classified as equity, the distributions to Unitholders in the form of interest and dividend is presented in Statement of Changes in Unitholders' Equity and distribution to Unitholder in the form of repayment of ca pital is presented as a separate line item on face of Statement of Assets and Liabilities and not as finance cost. In line with the above, the dividend payable to Unitholders is recognised as liability when the distributions are approved by the Board of Directors of the Investment Manager. The Trust has only one class of Units. Each Unit represents an undivided beneficial interest in the Trust. Each holder of Units is entitled to one vote pe r unit. The Unitholders have the right to receive at least 90% of the Net Distributable Cash Flows of the Trust at least once in every six months in each financial year in accordance with the REIT R egulations. The Board of Directors of the Manager approves distributions to Unitholders. The distribution will be in proportion to the number of Units held by the Unitholders. The Trust declares and pays distributions in Indian Rupees. In accordance with SEBI master circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025 w.e.f 1 April 2025, Embassy Office Parks REIT along with its SPVs, subject to applicable provisions in the Companies Act, 2013, needs to ensure that minimum 90% distribution of NDCF be met for a given financial year on a cumulative periodic b asis. The distributions shall be declared and paid once every quarter in every financial year. The aforesaid net distributable cash flows are made available to Embassy Office Parks REIT in the form of (i) Interest paid on Shareholder Debt provide d by Embassy Office Parks REIT to the SPV’s/Holding Company, (ii) Principal repayment of Shareholder Debt and (iii) Dividend declared by the SPVs/Holding Company. The unaudited consolidated financial results for the quarter and half year ended 30 September 2026 have been subjected to review by Statutory Auditor s of Embassy REIT and they have issued an unmodified report on the above results. During the current quarter ended 30 September 2026, the Government has enacted the Taxation and Other Laws (Amendment) Act, 2026 dated August 17, 2026 , which provides that (i) dividend income distributed by business trust to unitholders will now be exempt from tax even if the SPVs of such business trust opt for concessional ta x regime under section 200 of the Act and (ii) Such SPVs will be subject to surcharge of 25% as against 10% applicable for other corporates. Further, the deferred tax as at 30 September 20 26 has been computed considering the above enactment. Consequently, MAT credit entitlements amounting to Rs. 5,270.59 million, net of the impact of deferred tax charge, has been recognised as an exceptio nal item in the Consolidated Financial Results for the period ended 30 September 2026. On July 30, 2026, the Manager received an advisory letter from SEBI dated July 29, 2026 in respect of a complaint received from SWREL and other related unitholder complaints. a) SEBI had issued a show cause notice dated May 30, 2025 to Embassy Office Parks Management Services Private Limited ('EOPMSPL' or 'the Manager') and A xis Trustee Services Limited ('Trustee') of Embassy REIT in connection with an order passed by the National Financial Reporting Authority (“NFRA Order”) against, inter-alia, th e erstwhile Chief Executive Officer of the Company, Mr. Aravind Maiya and in respect of certain delays in disclosures related to NFRA Order and not ensuring proper compliance with the SEBI REIT R egulations. The Manager filed a settlement application. Following a demand notice from SEBI on October 13, 2025, the Manager remitted the settlement amount on October 16, 2025. SEBI subsequently issued a Settlement Order on November 17, 2025 and concluded the proceedings. b) SEBI sought comments from the Manager of Embassy REIT pursuant to complaints sent by unitholders to SEBI regarding certain transactions. The Manag er has provided the requisite responses to SEBI. SEBI had also sought comments from the Manager of Embassy REIT pursuant to a complaint received from Sterling and Wilson Renewable Energy Limited (SWR EL) in connection with certain unpaid amounts alleged to be due from Embassy-Energy Private Limited, an SPV of Embassy REIT [also refer note vi)(b)(i) in Statement of Commit ments and Contingencies] and also alleged non-compliance with SEBI REIT Regulations with respect to 'fit and proper' criteria and non-disclosure of material information in conn ection with the civil and criminal litigation matters pending before various judicial authorities and asking to take regulatory action. The Manager had provided the requisite respon se to SEBI. SWREL raised a complaint on the SEBI SCORES portal of Embassy REIT on 14 July 2025, regarding the same matter. Embassy REIT has responded, and the complain t was disposed on the SEBI SCORES portal. Based on Management’s assessment, the Group does not expect the outcome of these proceedings to have any significant/adverse effect on its financial position. The Board of Directors of the Manager in their meeting held on 31 July 2025 had approved sale of two strata blocks at MPPL in Bengaluru aggregating 375,73 6 sf for a consideration of Rs.5,300 million on a slump sale basis and accordingly the Group had entered into a Business Transfer Agreement dated 31 July 2025. During the previous year ended 31 March 2026, a sale deed dated 22 December 2025 was entered and the consideration was received. Gain on sale of the above assets amounting to Rs.1,770.13 million was r ecorded as an exceptional item in the Financial Results. During the previous year ended 31 March 2026, the Management had utilised the sale proceeds for acquisition of ERHIPL as referred in note 7(xii) below. During the previous period ended 30 September 2025, the same was presented as Assets held for sale. SEBI also issued an interim order cum show cause notice dated November 04, 2024 (“Order”) to the Manager in connection with NFRA Order. The Manager has filed a settlement application with SEBI in relation to the Order on December 06, 2024, and the matter is curre ntly outstanding. d) Certain Unitholders also raised complaints regarding the subject matter referred in point ‘c’ above, pursuant to which SEBI sought comments from t he Manager of Embassy REIT, and the Manager has provided requisite responses to SEBI. One of these Unitholders had during the previous year ended 31 March 2026, also raised a SCORES co mplaint regarding compliance with ‘fit and proper’ criteria by certain directors of the Manager and the Sponsor, as well as related disclosures. The Manager responded t o the complaint, and it was closed on July 30, 2026. Two out of the above unitholders have separately filed a writ petition before the High Court of Bombay, seeking directions against the Sponsors and certain directors on the above matter and directing SEBI to initiate regulatory action against the aforementioned persons including the Manger and T rustee of Embassy REIT. The matter is currently pending. During the period ended 30 September 2026, pursuant to the Board approval, the project agreement with Four Seasons India Hotel Management Company Pri vate Limited and its affiliates was terminated. Consequently, the Group has given effect to the termination in accordance with the terms and conditions agreed among the P arties and the same is reflected in the Consolidated Financial Results. The Group is currently in the process of evaluating potential new hospitality operators to manage the hotel. Page 37
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Embassy Office Parks REIT RN: IN/REIT/17-18/0001 Tel: +91 80 6935 4864 | E: compliance@embassyofficeparks.com | W: www.embassyofficeparks.com/investors Registered Office: 12th Floor, Pinnacle Tower, Embassy One, 8, Bellary Road, Ganganagar, Bengaluru, Karnataka - 560032 7 (xii) Particulars Amount (in million) Investment Property 8,520.00 Cash & Cash Equivalents 25.36 Other Assets 34.54 Less: Borrowings (2,207.40) Less: Other Liabilities (714.90) Total Purchase Consideration 5,657.60 Add: Transaction cost 355.49 Gross purchase consideration 6,013.09 (xiii) (xiv) (xv) for and on behalf of the Board of Directors of Embassy Office Parks Management Services Private Limited (as Manager to Embassy Office Parks REIT) Jitendra Virwani Amit Shetty Abhishek Agrawal Director Chief Executive Officer Chief Financial Officer DIN: 00027674 Place: Bengaluru Place: Bengaluru Place: Bengaluru Date: 28 October 2026 Date: 28 October 2026 Date: 28 October 2026 During the previous year ended 31 March 2026, Embassy REIT entered into share purchase agreements with TechPark Holdings Pte. Ltd. and Futura Techpar k Private Limited (collectively referred to as "Sellers") for acquisition of Eleanor Realty Holdings India Private Limited (“ERHIPL”), which owns and operates a 292,500 sq. ft. comm ercial office building ("Pinehurst") for an enterprise value of Rs.8,520 million. The acquisition was effected on 02 March 2026 (“Acquisition Date”). Notes to the unaudited consolidated financial results for the quarter and half year ended 30 September 2026 (continued) Survey proceedings under section 133A of the Income Tax Act was conducted from 28 July 2025 to 30 July 2025 on the Trust and GLSP. No further communicatio n has been received in this regard as of date. Asset acquisition - ERHIPL During the year ended 31 March 2026, the Government of India consolidated 29 existing labour legislations into a unified framework comprising four La bour Codes, viz., The Code on Wages, 2019, The Code on Social Security, 2020, The Industrial Relations Code, 2020 and The Occupational Safety, Health and Working Conditions Code 2 020 (collectively referred to as the ‘New Labour Codes’). The New Labour Codes were made effective from 21 November 2025. The Group had estimated the incremental impact to be immateria l and had recognised the same under 'Employee Benefit expense' in the Consolidated Financial Results for the previous year ended 31 March 2026. Pursuant to notification o f the Rules by the relevant regulatory authority on 08 May 2026, there is no additional impact to be recognized for the half year ended 30 September 2026. Further, PF wage ceiling under the Code on Social Security, 2020 has been revised to Rs. 25,000 from Rs. 15,000 per month w.e.f 17 September 2026. The Gro up has estimated the incremental impact to be immaterial and has recognised the same under 'Employee Benefit expense' in the Consolidated Financial Results for the period ended 30 September 2026. ERHIPL is engaged in the business of development and leasing of commercial space. Major asset pool of this SPV comprise of investment property. Based o n assessment performed by management, substantially all of the fair value of the gross assets acquired is concentrated in investment property. Embassy Office Parks REIT had op ted to apply optional concentration test in respect of acquisition of ERHIPL. Accordingly, acquisition of ERHIPL was accounted as acquisition of group of assets not constituting a busin ess and requirements in Ind AS 103 for business combination accounting has not been applied to this transaction. The transaction did not result in recognition of good will or bargain gain in the books of the REIT. Embassy Office Parks Group had obtained two independent valuation reports as required by the REIT regulations for the above acquisition and the avera ge of the two valuations amounts to Rs. 8,528.12 million. The valuation approach adopted by both the valuer is Discounted cash flow method. Acquisition consideration was at 0 .1% discount to average of two independent valuation reports. No fees or commission was paid to the Manager in relation to the transaction. All the material conditions and obligati ons for the transaction were complied. Acquisition of commercial premise at FIFC Subsequent to the Balance Sheet date, the Group has acquired 8,048 sq.ft of saleable area on the ground floor of First International Financial Centre, Mumbai ("Premises") from Citi Group Global Markets India Private Limited ("Seller") for a purchase consideration of Rs. 482.88 million. In accordance with Ind AS 10 - Events after the Reporting period, this transaction represents a non-adjusting event. Consequently, no adjustment is r equired to be made to the Consolidated Financial Results for the period ended 30 September 2026. Of the gross purchase consideration, an amount of Rs. 56.04 million was held back in a separate escrow account subject to satisfaction of certain condi tions and timelines agreed between them. Further, during the quarter ended 30 September 2026, on actualisation of consideration and satisfaction of the agreed conditions, the holdback amount and an additional amount of Rs. 51.50 million total amounting to Rs. 107.54 million has been paid to the Sellers. Embassy REIT acquired 100% of the equity share capital of ERHIPL comprising 100,000 fully paid-up equity shares of Rs.10 each and 17,90,000 compulsor ily convertible debentures (CCDs) of Rs. 100 each from TechPark Holdings Pte. Ltd. and Futura Techpark Private Limited. Embassy REIT also incurred directly attributable expenses in re lation to the asset acquisition, amounting to Rs.355.49 million. These CCD's have been subsequently converted into equity shares as per the conversion ratio (1 equity share for every 10 CCDs). The price payable for acquisition of equity shares of ERHIPL was funded through the sale proceeds of 2 strata blocks at MPPL as mentioned in note 7(xi) above and internal accruals. The gross purchase consideration was as follows: Page 38 JITENDRA MOHAND AS VIRWANI Digitally signed by JITENDRA MOHANDAS VIRWANI Date: 2026.10.28 14:32:20 +05'30' MOLAHALLI AMIT VIKRAM SHETTY Digitally signed by MOLAHALLI AMIT VIKRAM SHETTY Date: 2026.10.28 14:33:19 +05'30' Abhishe k Agrawal Digitally signed by Abhishek Agrawal Date: 2026.10.28 14:34:08 +05'30'
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Appendix - III
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Digitally signed by NIKUNJJAYENDRA SHAHDN: cn=NIKUNJ JAYENDRASHAH, c=IN, o=PersonalDate: 2026.10.28 15:33:50 +05'30'NIKUNJJAYENDRASHAH
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Embassy Office Parks REIT ("the Trust" or "the REIT")This statement contains details of maintenance of security cover including compliance status with financial convenants as at and for the half yearendedSeptember 30, 2026 ("The Statement") in respect of Listed, Secured, Redeemable and Non-Convertible Debentures ('NCDs') issued by the Trust withparticularreference to Regulation 56(1)(d) of Securities and Exchange Board of India (Listing Obligations Disclosure Requirements) Regulations, 2015 (hereinafter'SEBIRegulations') and the Securities and Exchange Board of India ("SEBI") Master Circular dated September 28, 2026) in relation to 11,000 listed, secured,redeemableand non-convertible Embassy REIT Series V NCD 2021 (Series B- ISIN INE041007084), debentures having face value of Rs.1 million each amounting toRs.11,000.00million (hereinafter referred to as "2021 NCDs - Series VB"), 10,000 listed, secured, redeemable and non-convertible Embassy REIT Series VI NCD2022-ISININE041007092 , debentures having face value of Rs.1 million each amounting to Rs.10,000.00 million (hereinafter referred to as "2022 NCDs - Series VI"),50,000listed, secured, redeemable and non-convertible Embassy REIT Series VIII NCD 2023-ISIN INE041007118, debentures having face value of Rs.1 lakh eachamountingto Rs.5000.00 million (hereinafter referred to as "2023 NCDs - Series VIII"), 90,000 listed, secured, redeemable and non-convertible Embassy REIT Series XINCD2024-ISIN INE041007142, debentures having face value of Rs.1 lakh each amounting to Rs.9000.00 million (hereinafter referred to as "2024 NCDs - SeriesXI"),1,00,000 listed, secured, redeemable and non-convertible Embassy REIT Series XII NCD 2024-ISIN INE041007159, debentures having face value of Rs.1 lakheachamounting to Rs.10000.00 million (hereinafter referred to as "2024 NCDs - Series XII"), 1,50,000 listed, secured, redeemable and non-convertible EmbassyREITSeries XIII NCD 2025 (Series A)-ISIN INE041007167, debentures having face value of Rs.1 lakh each amounting to Rs.15,000.00 million (hereinafter referred to as"2025NCDs - Series XIIIA"), 50,000 listed, secured, redeemable and non-convertible Embassy REIT Series XIII NCD 2025 (Series B)-ISIN INE041007175, debentureshavingface value of Rs.1 lakh each amounting to Rs.5,000.00 million (hereinafter referred to as "2025 NCDs - Series XIIIB"), 75,000 listed, secured, redeemable andnon-convertible Embassy REIT Series XIV NCD 2025-ISIN INE041007183, debentures having face value of Rs.1 lakh each amounting to Rs.7,500.00 million(hereinafterreferred to as "2025 NCDs - Series XIV"), 2,00,000 listed, secured, redeemable and non-convertible Embassy REIT Series XV NCD 2025-ISININE041007191,debentures having face value of Rs.1 lakh each amounting to Rs.20,000.00 million (hereinafter referred to as "2025 NCDs - Series XV"), 1,40,000 listed,secured,redeemable and non-convertible Embassy REIT Series XVI NCD 2026-ISIN INE041007209, debentures having face value of Rs.1 lakh each amounting toRs.14,000.00million (hereinafter referred to as "2026 NCDs - Series XVI"), 70,000 listed, secured, redeemable and non-convertible Embassy REIT Series XVII NCD2026-ISININE041007217, debentures having face value of Rs.1 lakh each amounting to Rs. 7,000.00 million (hereinafter referred to as "2026 NCDs - Series XVII") and1,00,000listed, secured, redeemable and non-convertible Embassy REIT Series XVIII NCD 2026-ISIN INE041007225, debentures having face value of Rs.1 lakheachamounting to Rs.10,000.00 million (hereinafter referred to as "2026 NCDs - Series XVIII").The financial covenants in relation to 2021 NCDs - Series VB have been specified in the Debenture Trust Deed dated October 18, 2021 entered between theTrustand Catalyst Trusteeship Limited ("DTD dated October 18, 2021"), 2022 NCDs - Series VI have been specified in the Debenture Trust Deed dated March 31,2022entered between the Trust and Catalyst Trusteeship Limited ("DTD dated March 31, 2022"). The financial covenants in relation to 2023 NCDs - Series VIII havebeenspecified in the Debenture Trust Deed dated August 25, 2023 entered between the Trust and Catalyst Trusteeship Limited ("DTD dated August 25, 2023).Thefinancial covenants in relation to 2024 NCDs - Series XI have been specified in the Debenture Trust Deed dated September 25, 2024 entered between theTrustand Catalyst Trusteeship Limited ("DTD dated September 25, 2024"). The financial covenants in relation to 2024 NCDs - Series XII have been specified intheDebenture Trust Deed dated December 13, 2024 entered between the Trust and Catalyst Trusteeship Limited ("DTD dated December 13, 2024"). Thefinancialcovenants in relation to 2025 NCDs - Series XIIIA have been specified in the Debenture Trust Deed dated May 14, 2025 entered between the Trust andCatalystTrusteeship Limited ("DTD (Series A) dated May 14, 2025"). The financial covenants in relation to 2025 NCDs - Series XIIIB have been specified in theDebentureTrust Deed dated May 14, 2025 entered between the Trust and Catalyst Trusteeship Limited ("DTD (Series B) dated May 14, 2025") . The financial covenantsinrelation to 2025 NCDs - Series XIV have been specified in the Debenture Trust Deed dated June 24, 2025 entered between the Trust and CatalystTrusteeshipLimited ("DTD dated June 24, 2025"). The financial covenants in relation to 2025 NCDs - Series XV have been specified in the Debenture Trust Deed dated July22,2025 entered between the Trust and Catalyst Trusteeship Limited ("DTD dated July 22, 2025"). The financial covenants in relation to 2026 NCDs - Series XVIhavebeen specified in the Debenture Trust Deed dated February 24, 2026 entered between the Trust and Catalyst Trusteeship Limited ("DTD dated February 24,2026").The financial covenants in relation to 2026 NCDs - Series XViI have been specified in the Debenture Trust Deed dated June 19, 2026 entered between the TrustandCatalyst Trusteeship Limited ("DTD dated June 19, 2026") and The financial covenants in relation to 2026 NCDs - Series XVIII have been specified in theDebentureTrust Deed dated September 21, 2026 entered between the Trust and Catalyst Trusteeship Limited ("DTD dated September 21, 2026").
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) Amount 11,000.00 - 11,000.00 Amount 35,993.27 35,993.27 Amounts in Rs. millionParticulars11,000 listed, secured, redeemable and non-convertible Embassy REIT Series V NCD 2021 (Series B), debentures having face valueofRs. 1 million eachAccrued but unpaid Coupon as at September 30, 2026Total outstanding nominal value of the Debentures (Series B) and accrued but unpaid Coupon on a Financial CovenantTestingDate = (A)Aggregate value of the Mortgage Properties (Series B) as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. millionParticulars The requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021, which requires maintenance of LTVofSecured Assets at less than or equal to 49%.Calculation of LTV of Secured Assets as per para 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021:LTV of Secured Assets =total outstanding nominal value of the Debentures (Series B) and accrued but unpaid Coupon on a FinancialCovenantTesting Dateaggregate value of the Mortgage Properties (Series B) as determined by a valuer in accordance with theREITRegulationsLTV of Secured Assets = = 30.56% 1) Maintenance of security covera) Security cover calculation in relation to 2021 NCDs - Series V (Series B) Total outstanding nominal value of the Debentures (Series B) and accrued but unpaid Coupon as at September 30, 2026 is as under: Mortgage Properties (Series B)Aggregate value of the Mortgage Properties (Series B) = (B)Pursuant to letter dated July 28, 2025, executed between the Trust and Catalyst Trusteeship Limited, Qubix Business Park Private Limited (a subsidiary/ special purpose vehicle of the Trust) and Indenture of Mortgage dated July 24, 2025, has mortgaged certain property as security in connection with 2021 NCDs - Series VB. However, such mortgaged property is not included in definition of aggregate value of the Mortgage Properties (Series B) as per terms of letter dated July 28, 2025, executed between the Trust and Catalyst Trusteeship Limited. Accordingly, the same is excluded in calculation of Aggregate value of the Mortgage Properties (Series B) of Rs. 35,993.27 million above.LTV of Secured Assets as at September 30, 2026 as calculated above is 30.56%, which is within the maximum limit of 49% as specified in para 2.27 of Schedule 5ofDTD (Series B) dated October 18, 2021.b) Security cover calculation in relation to 2022 NCDs - Series VIThe requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated March 31, 2022, which requires maintenance of Security coverratioof more than or equal to 2.0x.The following formula is used to calculate security cover ratio of the Trust in relation to 2022 NCDs - Series VI:Security cover ratio =The amount that is the aggregate of (A) 50% (fifty per cent.) (or, if higher, the percentage of Share Capital of Golflinks then held by the REIT Group) of the Adjusted Gross Asset Value of Golflinks and (B) total outstanding nominal value of the Golflinks NCDs then held by the Issuer and all accrued but unpaid interest or coupon (however described) in respect of such Golflinks NCDs.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon
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Embassy Office Parks REIT ("the Trust" or "the REIT")(A)(B) Amount 39,581.44 5,182.48 44,763.92 Amount 10,000.00 - 10,000.00 Amount 85,702.14 (6,539.26) 79,162.88 39,581.44 Security cover ratio = = 4.48Value of assets provided as security as at September 30, 2026 is as under:Amounts in Rs. millionParticulars10,000 listed, secured, redeemable and non-convertible Embassy REIT Series VI NCD 2022, debentures having face value ofRs.1million eachAccrued but unpaid Coupon as at September 30, 2026Total outstanding nominal value of the Debentures and accrued but unpaid Coupon = (B)Note a: Value of 50% shareholding in Golflinks Software Park Private Limited held by MPPL is calculated as below:Particulars ParticularsValue of 50% shareholding in Golflinks Software Park Private Limited held by Manyata Promoters Private Limited ("MPPL") (refernotea below)Carrying amount of debentures issued by Golflinks Software Park Private Limited to the Trust outstanding as at September 30, 2026Value of assets provided as security = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionFair value of property owned by Golflinks Software Park Private Limited as determined by a valuerLess: Carrying amount of debentures issued by Golflinks Software Park Private Limited to the Trust outstanding as at September30,2026.Net amountValue of 50% shareholding in Golflinks Software Park Private Limited held by MPPL = 50% of net amount as calculated aboveSecurity cover ratio as at September 30, 2026 as calculated above is 4.48 times, which is more than the minimum security cover of 2 times as required tobemaintained by the Trust.
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) Amount 32,864.05 Amount 19,977.57 1,500.00 (i)(ii) Amount 1,500.00 1,500.00 The requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated August 25, 2023, which requires maintenance of Security coverofmore than or equal to 2.0x.Calculation of LTV of Secured Assets as per para 2.27 of Schedule 5 of DTD dated August 25, 2023:Security cover =the amount that is the aggregate of product of Security Cover - SIPL and SIPL Guarantee Amount and productofSecurity Cover - QBPPL and Debt in each case, on such Financial Covenant Testing Datetotal outstanding Nominal Value of the Debentures, and accrued but unpaid coupon payable on the Debentures onaFinancial Covenant Testing DateSecurity Cover = = 6.57 c) Security cover calculation in relation to 2023 NCDs - Series VIII Security cover- SIPL =aggregate value of the SIPL Mortgage Property determined by a valuer in accordance with the REIT Regulations;total outstanding Financial Indebtedness of REIT or any other member of REIT Group which is secured by SIPLMortgageProperty on such Financial Covenant Testing DateSecurity Cover - SIPL = = 13.32 Particularsthe amount that is the aggregate of product of Security Cover - SIPL and SIPL Guarantee Amount and product of Security Cover - QBPPL and Debt in each case, on such Financial Covenant Testing Date = (A)Calculation of Security Cover - SIPL DTD dated August 25, 2023:ParticularsAggregate value of the Mortgage Properties of SIPL as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 = (i)Total outstanding Financial Indebtedness of REIT or any other member of REIT Group which is secured by SIPL Mortgage Property as at September 30, 2026 = (ii)Total amount of unconditional and irrevocable guarantee to be executed by SIPL:ParticularsCorporate Guarantee issued by SIPL for Embassy REIT Series VIII NCDsTotal outstanding Financial Indebtedness secured by SIPL Mortgage Property
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Embassy Office Parks REIT ("the Trust" or "the REIT")(iv)(v) Amount 25,566.31 12,679.83 12,886.48 Amount 5,000.00 - 5,000.00 Amount 12,679.83 12,679.83 Amount 5,000.00 - 5,000.00 Security cover- QBPPL= = 2.58 Adjusted gross asset value of QBPPL as per Schedule 12 of DTD dated August 25, 2023 as at September 30, 2026 is as under:ParticularsCalculation of Security Cover - QBPPL DTD dated August 25, 2023:Security cover- QBPPL=the Adjusted Gross Asset Value of QBPPLthe Financial Indebtedness of Issuer and or any other member of REIT Group havingpari passu charge on Pledged Shares Particulars50,000 listed, secured, redeemable and non-convertible Embassy REIT Series VIII NCD 2024, debentures having face value of Rs.1lakh each secured by pledge of QBPPL SharesAccrued but unpaid Coupon as at September 30, 2026Financial Indebtedness of Issuer and or any other member of REIT Group having pari passu charge on Pledged Shares = (v)Total outstanding Financial Indebtedness of REIT or any other member of REIT Group which is secured by QBPPL Mortgage Property as at September 30, 2026 isasunder:Particulars Aggregate value of the QBPPL property as determined by a valuerLess: Aggregate amount of all the borrowings of QBPPL - refer (vi) belowAggregate value of the Mortgage Properties = (iv)Financial Indebtedness of Issuer and or any other member of REIT Group having pari passu charge on Pledged Shares as at September 30, 2026 is as under: 50,000 listed, secured, redeemable and non-convertible Embassy REIT Series VIII NCD 2024, debentures having face value of Rs.1lakh eachAccrued but unpaid Coupon as at September 30, 2026Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 6.57, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTDdatedAugust 25, 2023. Aggregate amount of all the borrowings of QBPPLTotal outstanding Financial Indebtedness secured by QBPPL Mortgage Property (vi)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionParticulars
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) Amount 25,664.67 25,664.67 Amount 9,000.00 9,000.00 (A)(B) Amount 52,353.73 52,353.73 d) Security cover calculation in relation to 2024 NCDs - Series XItotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties onsuchFinancial Covenant Testing Date.Security Cover ratio = = 2.85 The requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated September 25, 2024, which requires maintenance ofSecuritycover of more than or equal to 2.0x.Calculation of Security cover as per para 2.27 of Schedule 5 of DTD dated September 25, 2024:Security Cover ratio =value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations Amounts in Rs. millionParticularsTotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties such FinancialCovenantTesting Date.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.85, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTDdatedSeptember 25, 2024. The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. millionParticularsThe value of the properties under mortgage as determined by a valuerThe value of the Mortgage Properties = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under: Security Cover ratio = = 2.14 The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. million e) Security cover calculation in relation to 2024 NCDs - Series XIIThe requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated December 13, 2024, which requires maintenance of Security cover Calculation of Security cover as per para 2.27 of Schedule 5 of DTD dated December 13, 2024:Security Cover ratio =value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulationstotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties onsuchFinancial Covenant Testing Date.ParticularsThe value of the properties under mortgage as determined by a valuerThe value of the Mortgage Properties = (A)
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Embassy Office Parks REIT ("the Trust" or "the REIT")Amount 24,500.00 24,500.00 (A)(B) Amount 52,108.26 52,108.26 Amount 20,000.00 20,000.00 (A)(B) Total outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties such Financial Covenant Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.14, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTDdatedDecember 13, 2024.f) Security cover calculation in relation to 2025 NCDs - Series XIII (Series A) and Series XIII (Series B) The requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated May 14, 2025, which requires maintenance of Security coverofmore than or equal to 2.0x. Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionParticulars Calculation of Security cover as per para 2.27 of Schedule 5 of DTD dated May 14, 2025:Security Cover ratio =value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulationstotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties onsuchFinancial Covenant Testing Date.Security Cover ratio = = 2.61 Amounts in Rs. millionParticularsTotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties such FinancialCovenantTesting Date.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.61, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTD datedMay14, 2025.g) Security cover calculation in relation to 2025 NCDs - Series XIV The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. millionParticularsThe value of the properties under mortgage as determined by a valuerThe value of the Mortgage Properties = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under: Security Cover ratio = = 2.14 The requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated June 24, 2025, which requires maintenance of Security coverofmore than or equal to 2.0x.Calculation of Security cover as per para 2.27 of Schedule 5 of DTD dated June 24, 2025:Security Cover ratio =value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulationstotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties onsuchFinancial Covenant Testing Date.
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Embassy Office Parks REIT ("the Trust" or "the REIT")Amount 52,353.73 52,353.73 Amount 24,500.00 24,500.00 (A)(B) Amount 27,750.57 22,537.23 50,287.80 Amount 20,000.00 20,000.00 = The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. millionTotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties such FinancialCovenantTesting Date.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.14, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTD datedJune24, 2025.h) Security cover calculation in relation to 2025 NCDs - Series XVThe requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated July 22, 2025, which requires maintenance of Security coverofmore than or equal to 2.0x. ParticularsThe value of the properties under mortgage as determined by a valuerThe value of the Mortgage Properties = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionParticulars Mortgage Properties 2 Value on such Financial Covenant Testing DateAggregate of Mortgage Properties 1 Value and Mortgage Properties 2 Value on such Financial Covenant Testing Date (A) Calculation of Security cover as per para 2.27 of Schedule 5 of DTD dated July 22, 2025:Security Cover ratio =Aggregate of Mortgage Properties 1 Value and Mortgage Properties 2 Value on such Financial Covenant Testing DateTotal outstanding Nominal value of Debentures Security Cover ratio = = 2.51 Total outstanding Nominal value of Debentures as at September 30, 2026 is as under:Amounts in Rs. millionParticularsTotal outstanding Nominal value of Debentures Total outstanding Nominal value of Debentures = (B)Mortgage Properties Value 1Product of (i) value of the Mortgage Properties 1 on such Financial Covenant Testing Date, determined by a valuer in accordance with the REIT Regulations and (ii) Block 2 Amount on such Financial Covenant Testing Date Aggregate of Mortgage Properties 1 Value and Mortgage Properties 2 Value on such Financial Covenant Testing Date as at September 30, 2026 is as under:Amounts in Rs. millionParticularsMortgage Properties 1 Value on such Financial Covenant Testing Date aggregate of (i) the outstanding amount of Financial Indebtedness secured by security over the Mortgage Properties 1, other than the Debt and the Series X NCD Debt; and (ii) the Block 2 Amount, each on such Financial Covenant Testing Date.
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Embassy Office Parks REIT ("the Trust" or "the REIT")=(i*ii)(iii) Amount 34,522.29 10,000.00 12,440.21 ==(i*ii)(iii) Amount 44,077.00 10,000.00 19,557.42 (A)(B) Aggregate value of the Mortgage Properties 1as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 = (i)Block 2 Amount on such Financial Covenant Testing Date = (ii)Aggregate of (i) the outstanding amount of Financial Indebtedness secured by security over the Mortgage Properties 1, other than the Debt and the Series X NCD Debt; and (ii) the Block 2 Amount, each on such Financial Covenant Testing Date = (iii)Mortgage Properties Value 2Product of (i) value of the Mortgage Properties 2 on such Financial Covenant Testing Date, determined by a valuer in accordance with the REIT Regulations and (ii) Block 5 Amount on such Financial Covenant Testing Dateaggregate of (i) the outstanding amount of Financial Indebtedness secured by security over the Mortgage Properties 2, Secured SPV), and (ii) the Block 5 Amount, each on such Financial Covenant Testing Date. Mortgage Properties Value 1= 27,750.57 Calculation of Mortgage Properties value 1 DTD dated July 22, 2025:Particulars Block 5 Amount on such Financial Covenant Testing Date = (ii)Aggregate of (i) the outstanding amount of Financial Indebtedness secured by security over the Mortgage Properties 2, other than the Block 5 Amount, each on such Financial Covenant Testing Date.Security cover as at September 30, 2026 as calculated above is 2.51, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTD datedJuly22, 2025.i) Security cover calculation in relation to 2026 NCDs - Series XVIThe requirement to maintain security cover is specified in para 2.26 of Schedule 5 of DTD dated February 24, 2026, which requires maintenance of Securitycoverof more than or equal to 1.75x. Mortgage Properties Value 2= 22,537.23 Calculation of Mortgage Properties value 1 DTD dated July 22, 2025:ParticularsAggregate value of the Mortgage Properties 2 as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 = (i) Calculation of Security cover as per para 2.26 of Schedule 5 of DTD dated February 24, 2026:Security Cover ratio =Aggregate of ETPL Mortgage Properties Value and the MPPL Secured Assets ValueTotal outstanding Nominal Value of the Debentures, along with the outstanding accrued Coupon and other Debt.Security Cover ratio = = 2.83
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Embassy Office Parks REIT ("the Trust" or "the REIT")Amount 39,649.05 39,649.05 Amount 14,000.00 14,000.00 (A)(B) Amount 52,353.73 52,353.73 Amount 24,500.00 24,500.00 The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. millionParticularsAggregate of ETPL Mortgage Properties Value and the MPPL Secured Assets Value as determined by valuerThe value of the Mortgage Properties = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionParticularsTotal outstanding Nominal Value of the Debentures, along with the outstanding accrued Coupon and other Debt on suchFinancialCovenant Testing Date.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.83, which is more than or equal to 1.75x as specified in para 2.26 of Schedule 5 of DTDdatedFebruary 24, 2026.value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulationstotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties onsuchFinancial Covenant Testing Date.Security Cover ratio = j) Security cover calculation in relation to 2025 NCDs - Series XVIIThe requirement to maintain security cover is specified in para 2.27 of Schedule 5 of DTD dated June 19, 2026, which requires maintenance of Security coverofmore than or equal to 2.0x.Calculation of Security cover as per para 2.27 of Schedule 5 of DTD dated June 19, 2026:Security Cover ratio == 2.14 The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. millionParticularsThe value of the properties under mortgage as determined by a valuerThe value of the Mortgage Properties = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionParticularsTotal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties such FinancialCovenantTesting Date.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.14, which is more than or equal to 2.0x as specified in para 2.27 of Schedule 5 of DTD datedJune19, 2026.
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) Amount 22,248.88 22,248.88 Amount 10,000.00 10,000.00 =value of the Mortgage Properties as determined by a valuer in accordance with the REIT RegulationsSecurity Cover ratio = = 2.22 The value of the Mortgage Properties as determined by a valuer in accordance with the REIT Regulations as at September 30, 2026 is as under:Amounts in Rs. million k) Security cover calculation in relation to 2025 NCDs - Series XVIIIThe requirement to maintain security cover is specified in para 2.26 of Schedule 5 of DTD dated September 21, 2026, which requires maintenance of Securitycoverof more than or equal to 1.67x.Calculation of Security cover as per para 2.26 of Schedule 5 of DTD dated September 21, 2026:Security Cover ratiototal outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties onsuchFinancial Covenant Testing Date. Total outstanding amount of the Financial Indebtedness secured by security over the Mortgage Properties such FinancialCovenantTesting Date.Total outstanding nominal value of the Debentures and accrued but unpaid Coupon on a Financial Covenant Testing Date = (B)Security cover as at September 30, 2026 as calculated above is 2.22, which is more than or equal to 1.67x as specified in para 2.26 of Schedule 5 of DTDdatedSeptember 21, 2026. ParticularsThe value of the properties under mortgage as determined by a valuerThe value of the Mortgage Properties = (A)Total outstanding nominal value of the Debentures and accrued but unpaid Coupon as at September 30, 2026 is as under:Amounts in Rs. millionParticulars
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) Amount 1,76,858.12 66,669.76 Less: (19,639.73) 2,23,888.15 Amount 53,677.70 793.17 - (5.98) (12.20) - (1,260.84) (11,409.63) - - - - 482.66 42,264.88 Calculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021Net Total Debt divided by EBITDA= = 5.30 Net Total Debt as at September 30, 2026 is as under:Amounts in Rs. millionParticularsAggregate amount of all outstanding Financial Indebtedness of the REIT Group, including without limitation, accrued butunpaidcoupon, interest, redemption premium (as applicable), and Coupon excluding: (a) any Financial Indebtedness extended byonemember of the REIT Group to another member of the REIT Group, less (b) Consolidated CashCalculation of EBITDA for the period ended September 30, 2026 is as under:Amounts in Rs. million Note a: As per terms of DTD dated October 18, 2021 for the calculation of EBITDA of Rs. 42,264.88 million above, in relation to fit out rentals and rentalsupportincome, the entire contracted cash flows as per the underlying agreements pertaining to such fit out rentals and rental support income has been consideredforthe half year ended September 30, 2026.Net Total Debt divided by EBITDA as calculated above 5.30 times is within the maximum limit of 5.5 times as specified in para 2.27 of Schedule 5 of DTD (SeriesB)dated October 18, 2021. a) As per terms of para 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021, the financial covenants required to be complied with by the Trust areasunder:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.5x Note b: As per terms of DTD dated October 18, 2021 for the above calculation of EBITDA includes 50% of EBITDA of Golflinks Software Park Private Limited. ParticularsRevenue from operationsAdd: Other incomeLess: Liquidated damagesLess: Net change in fair value of financial assetsLess: Profit on retirement of assetsLess: Foreign exchange gainLess: O&M expensesLess: Other expensesAdd: Loss on retirement of assetsAdd: Fair value loss on financial instruments at fair valueAdd: Foreign exchange lossAdd: Rental support income Add: Fit out rentals (refer note a below)EBITDA = (B) Borrowings (non-current)Borrowings (current)Consolidated cash (the aggregate amount of cash and Cash Equivalent Investments (REIT Group) (classified as "availableforsale") of the REIT GroupNet Total Debt = (A) 2) Compliance status with financial covenants :
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Embassy Office Parks REIT ("the Trust" or "the REIT")(A)(B) Amount 7,39,901.03 7,39,901.03 (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.ParticularsNote a: As per terms of DTD dated October 18, 2021, the REIT's share of fair value of Golflinks Software Park Private Limited ('GLSP') property is required tobeconsidered in Gross Asset Value only if the REIT incurs any financial indebtedness and utilises the proceeds of that financial indebtedness to on-lend toGLSP.Since, as at September 30, 2026, REIT has incurred financial indebtedness to on-lend to GLSP, the Gross Asset Value as calculated above includes the REIT'sshareof fair value of GLSP property.Gross Asset Value as at September 30, 2026 is as under:Amounts in Rs. millionAggregate value of all the assets under the REIT Group as assessed by the valuer, as defined under Regulation 2(1)(zzb) of theREITRegulations, as amended from time to time (refer note a below)Gross Asset Value = (B) (refer note a below)Loan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 40% as specified in para 2.27 of Schedule 5ofDTD dated October 18, 2021. II. Loan to Value Ratio shall be less than or equal to 40%Calculation of Loan to Value Ratio as per para 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021the Net Total DebtLoan to Value Ratio =the Gross Asset ValueLoan to Value Ratio = = 30.26%
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) Amount 11,000.00 10,000.00 7,000.00 10,000.00 8,589.34 3,298.08 7,459.56 5,255.55 8,444.83 4,942.55 3,230.44 2,472.56 2,802.01 1,000.50 85,495.43 Total 19,409.18 150.33 - - (8.31) - (2,193.83) (2,317.53) - - - - - 15,039.84 Add: Rental support income Add: Fit out rentalsEBITDA of Operational Assets of MPPL = (B)Less: Net change in fair value of financial assetsLess: Profit on retirement of assetsLess: Foreign exchange gainLess: O&M expensesLess: Other expensesAdd: Loss on retirement of assetsAdd: Fair value loss on financial instruments at fair valueAdd: Foreign exchange lossLess: Liquidated damagesICICI LRD FacilityICICI Overdraft FacilityAxis Overdraft FacilityTotal Debt of MPPL = (A)Calculation of EBITDA of Operational Assets of MPPL for the year ended September 30, 2026 is as under:Amounts in Rs. millionParticularsRevenue from operationsAdd: Other income (refer note a below)BOI LRD FacilityCorporate Guarantee Series XIIIA & XIIIB (50% of the aggregate value of debenture outstanding)Corporate Guarantee Series XVI (50% of the aggregate value of debenture outstanding)Corporate Guarantee Series XVIIISBI LRD FacilityCanara LRD FacilityHSBC LRD FacilityBOB LRD FacilityCanara LRD FacilityAxis LRD Facility 5.68Calculation of Total Debt of MPPL as at September 30, 2026 is as under:Amounts in Rs. millionParticularsCorporate Guarantee Series V (Series B) III. The issuer shall ensure that the Total Debt to EBITDA ratio of Operational Assets shall be less than or equal to 7 times.Calculation of Total Debt to EBITDA Ratio of Operational Assets as per para 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021Total Debt to EBITDA Ratio of Operational Assets=the aggregate outstanding amount of Permitted Indebtedness (MPPL) as set out in paragraph (f) of the definition of Permitted Indebtedness (MPPL) on a Financial Covenant Testing Date as per DTD (Series B) dated October 18, 2021 (the same is referred to in the below calculation as "Total debt of MPPL")the EBITDA (for the immediately preceding 12 month period) generated by the Operational Assets on such Financial Covenant Testing DateTotal Debt to EBITDA Ratio of Operational Assets= =
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B) (A)(B) Note a: In calculating EBITDA of Operational Assets of MPPL, the Trust has not considered dividend income from GLSP of Rs. 685 million for half yearendedSeptember 30, 2026, since the Trust is of the view that the same does not form part of EBITDA of Operational Assets of MPPL as per terms of DTD (Series B)datedOctober 18, 2021.Total Debt to EBITDA of Operational Assets as at March 31, 2026 as calculated above of is 5.68 times, which is within the maximum limit of 7 times as specifiedinpara 2.27 of Schedule 5 of DTD (Series B) dated October 18, 2021.b) As per terms of para 2.27 of Schedule 5 of DTD dated March 31, 2022, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.5xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated March 31, 2022Calculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated August 25, 2023.Net Total Debt divided by EBITDA= = 5.30 (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.5 times as specified in para 2.27 of Schedule 5 ofDTDdated March 31, 2022. (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.5 times as specified in para 2.27 of Schedule 5 ofDTDdated August 25, 2023. c) As per terms of para 2.27 of Schedule 5 of DTD dated August 25, 2023, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.5xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated August 25, 2023.Net Total Debt divided by EBITDA= = 5.30
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Embassy Office Parks REIT ("the Trust" or "the REIT")(A)(B) (A)(B) Amount 7,39,901.03 7,39,901.03 Note a: As per terms of DTD dated September 25, 2024, the REIT's share of fair value of Golflinks Software Park Private Limited ('GLSP') property is required tobeconsidered in Gross Asset Value only if the REIT incurs any financial indebtedness and utilises the proceeds of that financial indebtedness to on-lend toGLSP.Since, as at September 30, 2026, REIT has incurred financial indebtedness to on-lend to GLSP, the Gross Asset Value as calculated above includes the REIT'sshareof fair value of GLSP property.Gross Asset Value as at September 30, 2026 is as under: d) As per terms of para 2.27 of Schedule 5 of DTD dated September 25, 2024, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.5xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated September 25, 2024.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.5 times as specified in para 2.27 of Schedule 5 ofDTDdated September 25, 2024.II. Loan to Value Ratio shall be less than or equal to 40%Calculation of Loan to Value Ratio as per para 2.27 of Schedule 5 of DTD dated September 25, 2024.Loan to Value Ratio =the Net Total Debtthe Gross Asset Value Net Total Debt divided by EBITDA= = 5.30 (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above. Loan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 40% as specified in para 2.27 of Schedule 5ofDTD dated September 25, 2024. Loan to Value Ratio = = 30.26%(A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.Amounts in Rs. millionParticularsAggregate value of all the assets under the REIT Group as assessed by the valuer, as defined under Regulation 2(1)(zzb) of theREITRegulations, as amended from time to time (refer note a below)Gross Asset Value = (B) (refer note a below)
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Embassy Office Parks REIT ("the Trust" or "the REIT")(A)(B) (A)(B) (A)(B) e) As per terms of para 2.27 of Schedule 5 of DTD dated December 13, 2024, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.5xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated December 13, 2024.Net Total Debt divided by EBITDA= = 5.30 (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.5 times as specified in para 2.27 of Schedule 5 ofDTDdated December 13, 2024.II. Loan to Value Ratio shall be less than or equal to 40%Calculation of Loan to Value Ratio as per para 2.27 of Schedule 5 of DTD dated December 13, 2024.Loan to Value Ratio =the Net Total Debtthe Gross Asset ValueLoan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 40% as specified in para 2.27 of Schedule 5ofDTD dated December 13, 2024.f) As per terms of para 2.27 of Schedule 5 of DTD dated May 14, 2025, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.75xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated May 14, 2025.Net Total Debt divided by EBITDA= = 5.30 Loan to Value Ratio = = 30.26%(A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = Gross Asset Value as at September 30, 2026 is Rs 7,05,399.53 million. Refer calculation under (2)(a)(II) above and note a below. (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.75 times as specified in para 2.27 of Schedule 5 ofDTDdated May 14, 2025.
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Embassy Office Parks REIT ("the Trust" or "the REIT")(A)(B) (A)(B) (A)(B) II. Loan to Value Ratio shall be less than or equal to 40%Calculation of Loan to Value Ratio as per para 2.27 of Schedule 5 of DTD dated May 14, 2025.Loan to Value Ratio =the Net Total Debtthe Gross Asset ValueLoan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 40% as specified in para 2.27 of Schedule 5ofDTD dated May 14, 2025.g) As per terms of para 2.27 of Schedule 5 of DTD dated June 24, 2025, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.75xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated June 24, 2025.Net Total Debt divided by EBITDA= = 5.30 Loan to Value Ratio = = 30.26%(A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = Gross Asset Value as at September 30, 2026 is Rs 7,39,901.03 million. Refer calculation under (2)(a)(II) above and note a below. Loan to Value Ratio = = 30.26%(A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = Gross Asset Value as at September 30, 2026 is Rs 7,39,901.03 million. Refer calculation under (2)(a)(II) above and note a below. (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.75 times as specified in para 2.27 of Schedule 5 ofDTDdated June 24, 2025.II. Loan to Value Ratio shall be less than or equal to 40%Calculation of Loan to Value Ratio as per para 2.27 of Schedule 5 of DTD dated June 24, 2025.Loan to Value Ratio =the Net Total Debtthe Gross Asset ValueLoan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 40% as specified in para 2.27 of Schedule 5ofDTD dated June 24, 2025.
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Embassy Office Parks REIT ("the Trust" or "the REIT")(A)(B) (A)(B)Loan to Value Ratio =the Net Total Debtthe Gross Asset Value h) As per terms of para 2.27 of Schedule 5 of DTD dated July 22, 2025, the financial covenants required to be complied with by the Trust are as under:I. Net Total Debt divided by EBITDA shall be less than or equal to 5.75xCalculation of Net Total Debt divided by EBITDA as per para 2.27 of Schedule 5 of DTD dated July 22, 2025.Net Total Debt divided by EBITDA= = 5.30 Calculation of Loan to Value Ratio as per para 2.27 of Schedule 5 of DTD dated July 22, 2025. Loan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 40% as specified in para 2.27 of Schedule 5ofDTD dated July 22, 2025.Loan to Value Ratio = = 30.26%(A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = Gross Asset Value as at September 30, 2026 is Rs 7,39,901.03 million. Refer calculation under (2)(a)(II) above and note a below. (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = EBITDA is Rs. 42,264.88 million. Refer calculation under (2)(a)(I) above.Net Total Debt divided by EBITDA as calculated above is 5.30 times, which is within the maximum limit of 5.75 times as specified in para 2.27 of Schedule 5 ofDTDdated July 22, 2025.II. Loan to Value Ratio shall be less than or equal to 40%
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Embassy Office Parks REIT ("the Trust" or "the REIT") (A)(B)3) Compliance with all covenants other than financial covenants For Embassy Office Parks REITAuthorised SignatoryPlace: BengaluruDate: October 28, 2026 Loan to Value Ratio = = 30.26%i) As per terms of para 2.27 of Schedule 5 of DTD dated February 24, 2026, the financial covenants required to be complied with by the Trust are as under:I. Loan to Value Ratio shall be less than or equal to 49%Calculation of Loan to Value Ratio as per para 2.26 of Schedule 5 of DTD dated February 24, 2026.Loan to Value Ratio =the Net Total Debtthe Gross Asset Value 5) As per terms of para 2.27 of Schedule 5 of DTD dated June 19, 2026As per terms of para 2.27 of Schedule 5 of DTD dated June 19, 2026, the Trust is required to comply with the financial covenants mentioned in the said para 2.27ofSchedule 5 of DTD dated June 19, 2026, from March 31, 2027 onwards and hence the are no financial covenants to be complied with by the Trust under DTDdatedJune 19, 2026 as at September 30, 2026.6) As per terms of para 2.27 of Schedule 5 of DTD dated September 21, 2026As per terms of para 2.26 of Schedule 5 of DTD dated September 21, 2026, the Trust is required to comply with the financial covenants mentioned in the saidpara2.26 of Schedule 5 of DTD dated September 21, 2026, from March 31, 2027 onwards and hence the are no financial covenants to be complied with by theTrustunder DTD dated September 21, 2026, as at September 30, 2026. Loan to Value Ratio as at September 30, 2026 as calculated above is 30.26%, which is within the maximum limit of 49% as specified in para 2.26 of Schedule 5ofDTD dated February 24, 2026.The Trust has complied with all other covenants as prescribed in the DTD dated October 18, 2021, DTD dated March 31, 2022, DTD dated August 25, 2023, DTD dated September 25, 2024, DTD dated December 13, 2024, DTD dated May 14, 2025, DTD dated June 24, 2025, DTD dated July 22, 2025 and DTD dated February 24, 2026.4) Security Cover as per SEBI Master Circular dated September 28, 2026The calculation of security cover as specified in SEBI Master Circular dated September 28, 2026 is enclosed as Annexure I and Annexure II to this Statement. (A) =The Net Total Debt as at March 31, 2026 is Rs. 2,23,888.15 million. Refer calculation under (2)(a)(I) above.(B) = Gross Asset Value as at September 30, 2026 is Rs 7,39,901.03 million. Refer calculation under (2)(a)(II) above and note a below.
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Embassy Office Parks REIT ("the Trust")Annexure I - consolidated security cover computationColumn A Column B Column C Column D Column E Column F Column G Column H Column I Column J Column K Column L Column M Column N Column OParticulars Exclusive Charge Exclusive ChargePari- Passu ChargePari- Passu ChargePari- Passu ChargeAssets not offered as SecurityElimination (amount in negative)(Total C to H)Debt amount considered more than once (due to exclusive plus pari passu charge)Market Value for Assets charged on Exclusive basisCarrying/book value for exclusive charge assets where market value is not ascertainable or applicable(For Eg. Bank Balance, DSRA market value is not applicable)Market Value for Pari passu charge AssetsCarrying value/book value for pari passu charge assets where market value is not ascertainable or applicable(For Eg. Bank Balance, DSRA market value is not applicable)Total Value(=K+L+M+N)Book Value Book Value Yes/ No Book Value Book ValueASSETS- - 62,519.48 - - 15,293.79 2,04,350.56 - 2,82,163.82 2021 NCDs - Series VB:Commercial buildings of Blocks L5,B, E2, H2 of Embassy Manyata (hereinafter referred to as "Security Series VB") 2,878.76 - - - - - - 2,878.76 35,993.27 - - - 35,993.27 2023 NCDs - Series VIII:Commercial Building being Embassy One of QBPL. 4,171.23 - - - - - - 4,171.23 25,566.31 - - - 25,566.31 Commercial Building being Block 9 of Embassy TechVillage (hereinafter referred to as Security Series VIII") 7,240.20 - - - - - - 7,240.20 19,977.57 - - - 19,977.57 2024 NCDs - Series XI:Commercial buildings of Embassy 247 (hereinafter referred to as Security Series XI") 4,470.96 - - - - - - 4,470.96 25,664.67 - - - 25,664.67 2024 NCDs - Series XII:Commercial Building being Express Towers (hereinafter referred to as Security Series XII") - - - 2,515.29 - - - 2,515.29 - - 26,571.77 - 26,571.77 Portfolio assets of EPTPL - - - 9,284.06 - - - 9,284.06 - - 25,781.96 - 25,781.96 2025 NCDs - Series XIIIA:Commercial Building being Block G2, Hilton and Hilton Garden Inn at Embassy Manyata (hereinafter referred to as Security Series XIIIA") - - - 7,854.88 - - - 7,854.88 - - 25,566.00 - 25,566.00 Commerical buildings being Block Tower 1, Tower 2, Tower 3, Block A, Block C, Block D & Block E of Oxygen Business Park - - - 11,678.93 - - - 11,678.93 - - 26,227.16 - 26,227.16 2025 NCDs - Series XIIIB:Commercial Building being Block G2, Hilton and Hilton Garden Inn at Embassy Manyata (hereinafter referred to as Security Series XIIIB") - - - 7,854.88 - - (7,854.88) - - - 25,566.00 - 25,566.00 Related to only those items covered by this certificateDebt for which this certificate being issuedOther Secured DebtDebt for which this certificate being issuedAssets shared by pari passu debt holder (includes debt for which this certificate is issued & other debt with pari-passu charge)Other assets on which there is pari- Passu charge (excluding items covered in column F)Relating to Column FDescription of asset for which this certificate relateProperty, Plant and Equipment (refer note a and note c below)
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Commerical buildings being block Tower 1, Tower 2, Tower 3, Block A, Block C, Block D & Block E of Oxygen Business Park - 11,678.93 - - (11,678.93) - - - 26,227.16 - 26,227.16 2025 NCDs - Series XIV:Commercial Building being Express Towers (hereinafter referred to as Security Series XIV") - - - 2,515.29 - - (2,515.29) - - - 26,571.77 - 26,571.77 Portfolio assets of EPTPL - - - 9,284.06 - - (9,284.06) - - - 25,781.96 - 25,781.96 2025 NCDs - Series XV:Commercial Building being Block 2 & Block 5 of Embassy TechVillage (hereinafter referred to as Security Series XV") - - - 13,246.66 - - - 13,246.66 - - 78,599.29 - 78,599.29 2026 NCDs - Series XVI:Commercial Building being M3 Phase I at Embassy Manyata (hereinafter referred to as Security Series XVI") 10,728.71 - - - - - - 10,728.71 19,759.18 - - - 19,759.18 2026 NCDs - Series XVI:Commercial building of FIFC (hereinafter referred to as Security Series XVI") 7,407.40 - - - - - - 7,407.40 19,889.87 - - - 19,889.87 2026 NCDs - Series XVII:Commercial Building being Express Towers (hereinafter referred to as Security Series XVII")- - - 2,515.29 - - (2,515.29) - - - 26,571.77 - 26,571.77 Portfolio assets of EPTPL - - - 9,284.06 (9,284.06) - - - 25,781.96 - 25,781.96 2026 NCDs - Series XVIII:Commercial Building being Block L1, L3 & C1 at Embassy Manyata (hereinafter referred to as Security Series XVIII")4,050.02 - - - - - - 4,050.02 22,248.88 - - - 22,248.88 Capital Work-in- Progress (refer note b below) - - - - - 17,853.41 - 17,853.41 - - - - - Right of Use Assets - - - - - - - - - - - - - Goodwill - - - - - 61,246.38 - 61,246.38 - - - - - Intangible Assets - - - - - 5,065.82 - 5,065.82 - - - - - Intangible Assets under - - - - - - - - - - - - - Investments2022 NCDs - Series VI: - Pledge over investments made by the Trust in debentures of Golflinks Software Park Private Limited - Pledge over investments made by MPPL in Golflinks Software Park Private Limited(Above assets are hereinafter referred to as "Secured assets Series VI") 27,440.27 - - - - 1,356.78 - 28,797.05 44,763.92 - - - 44,763.92 Loans - - - - - - - - - - - - Inventories - - - - - 40.98 - 40.98 - - - - Trade Receivables - - - - - 1,107.40 - 1,107.40 - - - - Cash and Cash Equivalents - - - - - 19,639.73 - 19,639.73 - - - - Bank Balances other than Cash and Cash Equivalents - - - - - 56.60 - 56.60 - - - - Assets held for sale - - - - - - - - Others - - - - - 16,486.86 - 16,486.86 - - - - Total 68,387.55 62,519.48 - 44,579.81 15,293.79 3,27,204.52 (43,132.50) 5,17,985.14 2,13,863.66 - 1,82,746.18 5,53,110.47
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LIABILITIES2021 NCDs - Series VB 11,000.00 No - (0.71) 10,999.29 2022 NCDs - Series VI 10,000.00 No - (5.26) 9,994.74 2023 NCDs - Series VIII 5,000.00 No - (1.05) 4,998.95 2024 NCDs - Series XI 9,000.00 No - 1.95 9,001.95 2024 NCDs - Series XII - No 10,000.00 (9.57) 9,990.43 2025 NCDs - Series XIIIA - Yes15,000.00 (20.28) 14,979.72 2025 NCDs - Series XIIIB - Yes5,000.00 (6.34) 4,993.66 2025 NCDs - Series XIV - Yes 7,500.00 (0.54) 7,499.46 2025 NCDs - Series XV - Yes 20,000.00 (98.49) 19,901.51 2026 NCDs - Series XVI 14,000.00 Yes - (58.16) 13,941.84 2026 NCDs - Series XVII - Yes 7,000.00 (15.15) 6,984.85 2026 NCDs - Series XVIII 10,000.00 Yes - (57.77) 9,942.23 Other debt sharing pari-passu charge with above debt - - - Other Debt 3,249.60 No- - - 3,249.60 Subordinated debt- - - Borrowings - 19,449.81 19,449.81 Bank 84,198.43 No- 13,401.41 - 97,599.84 Debt Securities - - - Others- 2,05,921.58 2,05,921.58 Trade payables- 858.37 858.37 Lease Liabilities- 1,471.30 1,471.30 Provisions - 37.73 37.73 Others - 66,168.28 66,168.28 Total 59,000.00 87,448.03 64,500.00 13,401.41 2,93,907.07 (270.66) 5,17,985.14 Cover on Book Value 2021 NCDs - Series VB 0.26 - 2022 NCDs - Series VI 2.74 - 2023 NCDs - Series VIII 2.28 - 2024 NCDs - Series XI 0.50 - 2024 NCDs - Series XII - 0.48 2025 NCDs - Series XIIIA - 0.98 2025 NCDs - Series XIIIB - 0.98 2025 NCDs - Series XIV - 0.48 2025 NCDs - Series XV - 0.41 2026 NCDs - Series XVI 1.30 - 2026 NCDs - Series XVII - 0.48 2026 NCDs - Series XVIII 0.41 Cover on Market Value2021 NCDs - Series VB 3.27 - 2022 NCDs - Series VI 4.48 - 2023 NCDs - Series VIII 6.57 - 2024 NCDs - Series XI 2.85 - 2024 NCDs - Series XII - 2.14 2025 NCDs - Series XIIIA - 2.59 2025 NCDs - Series XIIIB - 2.59 2025 NCDs - Series XIV - 2.14 2025 NCDs - Series XV - 2.51 2026 NCDs - Series XVI 2.83 - 2026 NCDs - Series XVII - 2.14 2026 NCDs - Series XVIII 2.22 - Exclusive Security Cover Ratio 1.16 Pari-Passu Security Cover Ratio 0.69 Exclusive Security Cover Ratio 3.62 Pari-Passu Security Cover Ratio 2.83 Notes:a. Amounts shown in line item Property, Plant and Equipment in the above table include amounts pertaining to Investment Propertyb. Amounts shown in line item Capital Work-in- Progress in the above table include amounts pertaining to Investment Property Under Developmentc. Amount shown in Column C of the above table in line item Property, Plant and Equipment represents the carrying amount of Property, Plant and Equipment and Investment Property items (provided as security) as per the books of account maintained by the subsidiaries of the Trust (that own such assets) as at September 30, 2026. Amount shown in Column H of the above table for line item Property, Plant and Equipment represents the difference between carrying amount of Property, Plant and Equipment and Investment Property items (provided as security) as per the Audited Condensed Consolidated Financial Statements of the Trust as at September 30, 2026 and the amount shown for such assets in Column C in the line item Property, Plant and Equipment. not to be filledDebt securities to which this certificatepertains
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d. Amount shown in column C for Security Series VB is calculated as below:Amount2,755.57 1,129.69 (1,006.51) 2,878.76 f. Amount shown in column F for Security Series XIIIA & XIIIB is calculated as below:Amount9,523.57 2,541.64 (386.29) 11,678.93 g. Amount shown in column F for Security Series XV is calculated as below:Amount12,945.04559.18 (257.56) 13,246.66h. Amount shown in column F for Security Series XVIII is calculated as below:Amount3,949.16 1,129.69 (1,028.83) 4,050.02i. For the purpose of Pari-passu security cover ratio, the debts include debts taken by the subsidiaries of EOP REIT having pari-passu charge against the same asset.Book value of Land pertaining to to commercial buildings in project Embassy Manyata (hereinafter referred to as "Manyata Land XVIII")Less: Book value of land (other than land pertaining to Blocks LL1, C1 & L3 of Embassy Manyata)Amount shown in column F for line item Security Series XVIIIParticularsBook value of Buildings pertaining to Blocks L1, C1 & L3 of Embassy Manyata (hereinafter referred to as "Secured Buildings XVIII") ParticularsBook value of Buildings pertaining to Blocks A, C, D, E, Tower 1, Tower 2, Tower 3 of Embassy Oxygen (hereinafter referred to as "Secured Buildings XIIIA & XIIIB")Book value of Land pertaining to to commercial buildings in project Embassy Oxygen (hereinafter referred to as "Oxygen Land")Less: Book value of land (other than land pertaining to Blocks A, C, D, E, Tower 1, Tower 2, Tower 3 of Embassy Oxygen)Amount shown in column F for line item Security Series XIIIA & XIIIBParticularsBook value pertaining to Commercial buildings of Blocks 5A to 5L & Blocks 2A to 2D of Embassy Tech Village ("hereinafter referred to as secured buildings Series XV")Book value of land pertaining to Commercial buildings in project Embassy Tech Village owned by VTPL ("hereinafter referred to as VTPL land")Less: Book value of land (other than Block 5A to 5L & Blocks 2A to 2D of Embassy Tech Village)Amount shown in Column F for line "Commercial buildings of Blocks 5A to 5L & Blocks 2A to 2D of Embassy Tech Village" in above table. e. Pursuant to letter dated July 28, 2025, executed between the Trust and Catalyst Trusteeship Limited, Qubix Business Park Private Limited (a subsidiary/ special purpose vehicle of the Trust) and Indenture of Mortgage dated July 24, 2025, has mortgaged certain property as security in connection with 2021 NCDs - Series VB. However, such mortgaged property is not included in definition of aggregate value of the Mortgage Properties (Series B) as per terms of letter dated July 28, 2025, executed between the Trust and Catalyst Trusteeship Limited. Accordingly, the same is excluded in calculation of Aggregate value of the Mortgage Properties (Series B) of Rs. 36,081.00 million above.ParticularsBook value of Buildings pertaining to Blocks L5, B, E2, H2 of Embassy Manyata & Book value of buildings pertaining to IT1 & IT2 of Embassy Qubix (hereinafter referred to as "Secured Buildings VB")Book value of Land pertaining to to commercial buildings in project Embassy Manyata (hereinafter referred to as "Manyata Land V")Less: Book value of land (other than land pertaining to Blocks L5, B, E2, H2 of Embassy ManyataAmount shown in column C for line item Security Series VB
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Embassy Office Parks REIT ("the Trust")Annexure II - standalone security cover computationColumn A Column B Column C Column D Column E Column F Column G Column H Column I Column J Column K Column L Column M Column N Column OParticulars Exclusive ChargeExclusive ChargePari- Passu Charge Pari- Passu ChargePari- Passu ChargeAssets not offered as SecurityElimination (amount in negative)(Total C to H)Market Value for Assets charged on Exclusive basisCarrying /book value for exclusive charge assets where market value is not ascertainable or applicable(For Eg. Bank Balance, DSRA market value is not applicable)Market Value for Pari passu charge AssetsCarrying value/book value for pari passu charge assets where market value is not ascertainable or applicable(For Eg. Bank Balance, DSRA market value is not applicable)Total Value(=K+L+M+ N)Book Value Book Value Yes/ No Book Value Book ValueASSETSProperty, Plant and Equipment (refer note a below) - - - - - - - - - - - - - Capital Work-in- Progress (refer note b below) - - - - - - - - - - - - - Right of Use Assets - - - - - - - - - - - - - Goodwill - - - - - - - - - - - - - Intangible Assets - - - - - - - - - - - - - Intangible Assets under Development - - - - - - - - - - - - - Investments - - - - - 27,523.85 - 27,523.85 - - - - - 2021 NCDs - Series VB:Investments made by the Trust in equity shares of Manyata Promoters Private Limited - - - 99,475.27 - - (99,475.27) - - - 2,39,606.02 - 2,39,606.02 2022 NCDs - Series VI:Investment in debentures issued by Golflinks Software Park Private Limited to the Trust5,182.48 - - - - - - 5,182.48 - 5,182.48 - - 5,182.48 2023 NCDs - Series VIII:Investments made by the Trust in equity shares of Quadron Business Park Private Limited6,626.89 - - - - - - 6,626.89 13,924.60 - - - 13,924.60 2024 NCDs - Series XI:Investments made by the Trust in equity shares of Vikhroli Corporate Park Private Limited10,710.94 - - - - - - 10,710.94 24,999.33 - - - 24,999.33 2024 NCDs - Series XII:Investments made by the Trust in equity shares of Indian Express Newspapers (Mumbai) Private Limited and Embassy PuneTechZone Private Limited - - - 25,294.46 - - - 25,294.46 - - 50,681.91 - 50,681.91 2025 NCDs - Series XIIIA:Investments made by the Trust in equity shares of Oxygen Business Park Private Limited - - - 12,308.89 - - - 12,308.89 27,421.97 - - - 27,421.97 2025 NCDs - Series XIIIB:Investments made by the Trust in equity shares of Oxygen Business Park Private Limited - - - 12,308.89 - - (12,308.89) - 27,421.97 - - - 27,421.97 2025 NCDs - Series XIV:Investments made by the Trust in equity shares of Indian Express Newspapers (Mumbai) Private Limited and Embassy PuneTechZone Private Limited - - - 25,294.46 - - (25,294.46) - - - 50,681.91 - 50,681.91 Description of asset for which this certificate relateRelated to only those items covered by this certificateDebt for which this certificate being issuedOther Secured DebtDebt for which this certificate being issuedAssets shared by pari passu debt holder (includes debt for which this certificate is issued & other debt with pari-passu charge)Other assets on which there is pari- Passu charge (excluding itemscovered in column F)Debt amount considered more than once (due to exclusive plus pari passu charge)Relating to Column F
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2025 NCDs - Series XV:Investments made by the Trust in equity shares of Vikas Telecom Private Limited50,695.45 - - - - - - 50,695.45 1,33,791.12 - - - 1,33,791.12 2026 NCDs - Series XVI:Investments made by the Trust in equity shares of Manyata Promoters Private Limited - - - 99,475.27 - - - 99,475.27 - - 2,39,606.02 - 2,39,606.02 2026 NCDs - Series XVI:Investments made by the Trust in equity shares of Earnest Towers Private Limited 10,590.24 - - - - - - 10,590.24 19,885.16 - - - 19,885.16 2026 NCDs - Series XVII:Investments made by the Trust in equity shares of Indian Express Newspapers (Mumbai) Private Limited and Embassy PuneTechZone Private Limited- - - 25,294.46 - - (25,294.46) - - - 50,681.91 - 50,681.91 2026 NCDs - Series XVIII:Investments made by the Trust in equity shares of Manyata Promoters Private Limited - - - 99,475.27 - - (99,475.27) - - - 2,39,606.02 - 2,39,606.02 Loans - - - 43,496.89 43,496.89 - - - - - 2021 NCDs - Series VB:Unsecured loan given by the Trust to Manyata Promoters Private Limited 19,616.80 (19,616.80) - - - - 19,616.80 19,616.80 2024 NCDs - Series XI:Unsecured loan given by the Trust to Vikhroli Corporate Park Private Limited 3,659.63 - - - - - - 3,659.63 - 3,659.63 - - 3,659.63 2024 NCDs - Series XII:Unsecured loan given by the Trust to Indian Express Newspapers (Mumbai) Private Limited and Embassy PuneTechZone Private Limited - - - 8,447.44 - - - 8,447.44 - - 8,447.44 - 8,447.44 2025 NCDs - Series XIIIA:Unsecured loan given by the Trust to Oxygen Business Park Private Limited - - - 7,955.96 - - - 7,955.96 - - 7,955.96 - 7,955.96 2025 NCDs - Series XIIIB:Unsecured loan given by the Trust to Oxygen Business Park Private Limited - - - 7,955.96 - - (7,955.96) - - - 7,955.96 - 7,955.96 2025 NCDs - Series XIV:Unsecured loan given by the Trust to Indian Express Newspapers (Mumbai) Private Limited and Embassy PuneTechZone Private Limited - - - 8,447.44 - - (8,447.44) - - - 8,447.44 - 8,447.44 2025 NCDs - Series XV:Unsecured loan given by the Trust to Vikas Telecom Private Limited 18,536.26 - - - - - - 18,536.26 18,536.26 - - - 18,536.26 2026 NCDs - Series XVI:Unsecured loan given by the Trust to Manyata Promoters Private Limited - - - 19,616.80 - - - 19,616.80 - 19,616.80 - 19,616.80 2026 NCDs - Series XVI:Unsecured loan given by the Trust to Earnest Towers Private Limited 362.86 - - - - - - 362.86 362.86 - - - 362.86 2026 NCDs - Series XVII:Unsecured loan given by the Trust to Indian Express Newspapers (Mumbai) Private Limited and Embassy PuneTechZone Private Limited - - - 8,447.44 - - (8,447.44) - - - 8,447.44 - 8,447.44 Inventories - - - - - - - - - - - - - Trade Receivables - - - - - - - - - - - - - Cash and Cash Equivalents - - - - - 2,722.55 - 2,722.55 - - - - - Bank Balances other than Cash and Cash Equivalents - - - - - - - - - - - - - Others - - - - - 469.96 - 469.96 - - - - - Total 1,06,364.75 - - 4,79,414.80 - 74,213.25 (3,06,315.98) 3,53,676.82
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LIABILITIES - - - - - - 2021 NCDs - Series VB - - Yes 11,000.00 - - (0.71) 10,999.29 - - - - 2022 NCDs - Series VI 10,000.00 - No - - - (5.26) 9,994.74 - - - - - 2023 NCDs - Series VIII 5,000.00 - No - - - (1.05) 4,998.95 - - - - - 2024 NCDs - Series XI 9,000.00 - No - - - 1.95 9,001.95 - - - - - 2024 NCDs - Series XII - - Yes 10,000.00 - - (9.57) 9,990.43 - - - - - 2025 NCDs - Series XIIIA - - Yes 15,000.00 - - (20.28) 14,979.72 - - - - - 2025 NCDs - Series XIIIB - - Yes 5,000.00 - - (6.34) 4,993.66 - - - - - 2025 NCDs - Series XIV - - Yes 7,500.00 - - (0.54) 7,499.46 - - - - - 2025 NCDs - Series XV 20,000.00 - No - - - (98.49) 19,901.51 - - - - - 2026 NCDs - Series XVI - - Yes 14,000.00 - - (58.16) 13,941.84 - - - - - 2026 NCDs - Series XVII - - Yes 7,000.00 - - (15.15) 6,984.85 - - - - - 2026 NCDs - Series XVIII - - Yes 10,000.00 - - (57.77) 9,942.23 - - - - - Other debt sharing pari-passu charge with above debt - - - - - - - - - - - - Other Debt 3,249.60 No - - 19,449.81 - 22,699.41 - - - - - Subordinated debt - - - - - - - - - - - - Borrowings - - - - - - - - - - - - Bank - - - - - - - - - - - - Others - - - - 2,07,335.83 - 2,07,335.83 - - - - - Trade payables - - - - 87.62 - 87.62 - - - - - Lease Liabilities - - - - - - - - - - - - Provisions - - - - - - - - Others - 325.33 325.33 - - - - - Total 44,000.00 3,249.60 - 79,500.00 - 2,27,198.59 (271.37) 3,53,676.82 Cover on Book Value 2021 NCDs - Series VB (refer note c) - 3.40 2022 NCDs - Series VI 0.52 - 2023 NCDs - Series VIII 1.33 - 2024 NCDs - Series XI 1.60 - 2024 NCDs - Series XII - 1.38 2025 NCDs - Series XIIIA - 1.01 2025 NCDs - Series XIIIB - 1.01 2025 NCDs - Series XIV - 1.38 2025 NCDs - Series XV 3.46 - 2026 NCDs - Series XVI (Refer note d) - 3.72 2026 NCDs - Series XVII - 1.38 2026 NCDs - Series XVIII - 2.84 Cover on Market Value2021 NCDs - Series VB (refer note c) - 7.41 2022 NCDs - Series VI 0.52 - 2023 NCDs - Series VIII 2.78 - 2024 NCDs - Series XI 3.18 - 2024 NCDs - Series XII - 2.41 2025 NCDs - Series XIIIA - 1.77 2025 NCDs - Series XIIIB - 1.77 2025 NCDs - Series XIV - 2.41 2025 NCDs - Series XV 7.62 - 2026 NCDs - Series XVI (Refer note d) - 7.98 2026 NCDs - Series XVII - 2.41 2026 NCDs - Series XVIII - 6.85 Exclusive Security Cover Ratio 2.42 Pari-Passu Security Cover Ratio (refer note c) 2.18 Notes:a. Amounts shown in line item Property, Plant and Equipment in the above table include amounts pertaining to Investment Propertyb. Amounts shown in line item Capital Work-in- Progress in the above table include amounts pertaining to Investment Property Under Developmentc. For the purpose of Pari-passu security cover ratio, the debts include debts taken by the subsidiaries of EOP REIT having pari-passu charge against the same asset. Debt securities to which this certificatepertains d. NCD Series XVI has been secured by first ranking pari passu pledge on shareholding in ETPL and MPPL, a first ranking pari passu charge by way of hypothecation by Embassy REIT over identified current assets & bank accounts and identified receivables from MPPL & first ranking exclusive charge by way of hypothecation created by Embassy REIT over the identified receivables from ETPL For the purpose of computing the security cover ratio, the entire debt has been presented under pari passu. not to be filled
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A. Statement of utilization of issue proceeds of Non-convertible Debentures: Name of the Issuer ISIN Mode of Fund Raising (Public Issues/ Private Placement) Type of Instrument Date of raising funds1 Amount Raised (INR in Crore) Funds utilized (INR in Crore)2 Any deviation (Yes/ No) If 8 is yes, then specify the purpose of for which the funds were utilized Remarks, if any 1 2 3 4 5 6 7 8 9 10 Embassy Office Parks REIT INE041007225 Private Placement Non- Convertible Debentures September 24, 2026 1,000.07 Crore3 Nil No NA - 1 The date of approval for issuance of the Non-Convertible Debentures is September 17, 2026 and the date of allotment is September 24, 2026 2As on September 30, 2026 3The issue price of Series XVIII NCDs was discovered on the basis of multiple yield allotment method through the Electronic Book Building Platform of BSE Limited on September 23, 2026 and Embassy REIT received consideration of ₹1,000.07 Crore for issue size of ₹1,000 Crore. B. Statement of deviation/variation in utilization of funds raised: Name of the listed entity Embassy Office Parks REIT Mode of fund raising Private placement Type of instrument Non-Convertible Debentures Date of raising funds September 24, 2026 Amount raised 1,000.07 Crore Appendix - IV
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Report filed for quarter ended September 30, 2026 Is there a deviation/ variation in use of funds raised? No Whether any approval is required to vary the objects of the issue stated in the prospectus/ offer document? No If yes, details of the approval so required? Not Applicable Date of approval Explanation for the deviation/ variation Comments of the audit committee after review Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation/ variation, in the following table: Please refer to the below table Original Object Modified Object if any Original Allocation (INR in Crore) Modified Allocation, if any Funds utilized till September 30, 2026 (INR in Crore) Amount of Deviation / Variation for the quarter according to applicable object (in Rs. crore and in %) Remarks, if any Proceeds of the Issue will be used for refinancing of existing debt availed by the Issuer and Infusion of Not applicable 1,000.07 Crore Not applicable Nil Not applicable None
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shareholder loan into SPVs for the purpose of refinancing of existing loan of SPVs or for capital expenditure of the SPVs and Issue expenses Thanking you, For and on behalf of Embassy Office Parks REIT acting through its Manager, Embassy Office Parks Management Services Private Limited Vinitha Menon Head - Company Secretary and Compliance Officer A25036 Date: October 28, 2026 Place: Bengaluru