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Q2 FY27 Investor Presentation 2nd November 2026 Annexure 2
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 2 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 By attending the meeting where this presentation(“Presentation”) is made, or by reading the Presentation materials, you agree to be bound by the following limitations: This Presentation (a) is for information purposes only without regards to specific objectives, financial situations or needs of any particular person, (b) should not be considered as a recommendation to any person to purchase / subscribe to any units, debentures, bonds or any other securities / instruments issued or proposed to be issued by Mindspace Business Parks REIT(”MindspaceREIT”). This Presentation and the information contained herein does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for, or advertisement with respect to, the purchase or sale of any units, debentures, bonds or any other securities / instruments of Mindspace REIT in any jurisdiction, and no part of it shall form the basis of or be relied upon by any person in connection with any contract or commitment whatsoever. The material that follows is a presentation of general background information. Wedon’t assume responsibility to publicly amend, modify or revise any forward looking statements on the basis of any subsequent development, information or events, or otherwise. This Presentation comprises information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. This Presentation includes statements that are, or may deemed to be, “forward-lookingstatements”. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. Any projection of future income or performance should be viewed merely as a fair estimate of the management of Mindspace REIT, which may be dependent on several factors and in no manner should be construed as an indication of its reflection in the market price of units, debentures, bonds or any other securities / instruments issued or proposed to be issued by Mindspace REIT. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that any objectives specified herein will be achieved. Neither we, nor any of our affiliates or advisors, as such, make any representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein and accept no liability whatsoever for any loss, howsoever, arising from any use or reliance on this Presentation or its contents or otherwise arising in connection therewith. Unless otherwise stated in this Presentation, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. The units, debentures, bonds or any other securities / instruments of Mindspace REIT have not been and will not be registered under the U.S. Securities Act, 1933, as amended (“U.S. SecuritiesAct”), or the securities laws of any applicable jurisdiction and these materials do not constitute or form a part of any offer to sell or solicitation of an offer to purchase or subscribe for units, debentures, bonds or any other securities / instruments in the United States of America or elsewhere in which such offer, solicitation or sale would be unlawful prior to registration under the U.S. Securities Act or the securities laws of any such jurisdiction. No units, debentures, bonds or any other securities / instruments of Mindspace REIT may be offered or sold in the United States of America without registration or an applicable exemption from registration requirements under the U.S. Securities Act. By accessing this Presentation, each investor is deemed to represent that it is and any customer it represents are either (a) qualified institutional buyers (within the meaning of Rule 144A under the U.S. Securities Act) or (b) outside the United States of America (within the meaning of Regulation S under the U.S. Securities Act), and is a sophisticated investor who possesses sufficient investment expertise to understand the risks involved in the offering. This document is just a Presentation and is not intended to be a “prospectus” or “draft offer document” or “offer document” or “final offer document” or “offer letter” or “offering memorandum” (as defined or referred to, as the case may be, under the Companies Act, 2013 and the rules notified thereunder, and the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, as amended, or any other applicable law). This Presentation has not been and will not be reviewed or approved by a regulatory authority in India or elsewhere or by any stock exchange in India or elsewhere. If we should at any time commence an offering of units, debentures, bonds or any other securities / instruments of Mindspace REIT, any decision to invest in any such offer to subscribe for or acquire units, debentures, bonds or any other securities / instruments of Mindspace REIT, must be based wholly on the information contained in an offer document or offering circular (including the risk factors mentioned therein) issued or to be issued in connection with any such offer and not on the contents hereof. Any prospective investor investing in such invitation, offer or sale of securities by Mindspace REIT should consult its own advisors before taking any decision in relation thereto. This Presentation is not intended to be an offer or placement for the purposes of the Alternative Investment Fund Managers Directive(“AIFMD”), and any “marketing” as defined under AIFMD may only take place in accordance with the national private placement regimes of the applicable European Economic Area jurisdictions. Disclaimer
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Loved Workspaces Maximizing Value Trusted destination for premium Grade A+ office led Ecosystem
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Table of Contents Note: 1. For ease and simplicity of representation, certain figures may have been rounded 2. Mindspace Business Parks REIT is referred to as Mindspace REIT in the presentation 3. “The Square Avenue 61 (BKC)”, “The Square Signatures Business Chambers (Nagar Road -Pune)”, “The Square Avenue 98 (BKC Annex)” are referred as “The Square BKC”, “The Square Nagar Road” and The Square (BKC Annex) respectively in the presentation Key Highlights Key Highlights Project Updates Project Updates Financial Update Financial Update Our Growth Drivers Our Growth Drivers India Office and AI India Office and AI Our Markets Our Markets Our Franchise Portfolio Our Franchise & Portfolio Re-energizing Parks Re-energizing Parks Value creation via ESG Value creation via ESG Shareholding Pattern Shareholding Pattern Annexure Annexure 01 02 03 04 05 06 07 08 09 10 11 5 5 11 11 18 18 23 23 26 26 31 31 39 39 52 52 58 58 62 62 64 64
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01 Key Highlights
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Source and FootNote Guideline No content left of this line No content right of this line No content left of this line No content right of this line 1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Place content below this line Place content below this line Key Highlights P R O J E C T D E L I V E R Y Hyderabad c.1.5 msf B1 Madhapur - First redevelopment completed On track with on-going developments of c. 6.0 msf L E A S I N G Chennai c. 0.57 msf Leased since acquisition of assets on PTR(1) road Committed occupancy increased f to 75.6% in recently acquired Chennai assets. L E A S I N G Portfolio 1.6 msf Gross leasing in Q2 FY27 Strong Leasing Traction 1. PTR – Pallavaram Thoraipakam Road, also known as Radial Road, Chennai 6
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Source and FootNote Guideline No content left of this line No content right of this line No content left of this line No content right of this line 1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Place content below this line Place content below this line Q2 FY27: Strong Execution. Sustained Growth. Q2 FY27: Strong Execution. Sustained Growth. COMMITTED OCCUPANCY 96.1% Like-to-like basis1) Up 0.3% QoQ 93.8%2 including acquisitions GROSS LEASING 1.6 msf NET OPERATING INCOME 8,361 INR Mn 31.9% YoY Growth 16.8% YoY like-to-like3 DISTRIBUTION PER UNIT 6.67 INR per unit GROSS ASSET VALUE 552 INR Bn 15.9%vs Mar’26 NET ASSET VALUE 565.1 INR per unit 7.2% vs Mar’26 Robust leasing momentum across our micro markets 1. Excluding Assets acquired in H1 FY27 and Pocharam (asset held for sale) 2. Including Assets acquired in H1 FY27 and Excluding Pocharam (asset held for sale) 3. On Same store basis Green hexa has numbers, hide links to see 14.4% YoY Growth 7
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 8 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Portfolio In-Place rent c. 81.5 psf/Month Delivered Strong Operational performance 1. Re-leasing spread includes spread on extensions and leasing of area vacant as of 30 June 26 for Q2 FY27 and Includes efficiency adjustment of 31 ksf Key Operating Indicators Q2 FY27 Gross Leasing 1.6 msf Re-leased Area 0.4 msf Re-leasing Spread (1) 24.0 % on 0.5 msf Average Rent for Area Leased INR 94 psf/Month New and Vacant Area Leased 0.8 msf H1 FY27 2.5 msf 1.1 msf 1.0 msf 16.3 % on 1.3 msf Pre-lease 0.5 msf 0.5 msf INR 90 psf/Month
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 9 Modern and Sustainable workplaces attracting occupiers Q2 FY27– Key leasing transactions c.45% Total committed area leased to GCCs in Q2 FY27 High Quality Portfolio with 10 out of 16(1) parks achieving an average of more than 96% committed occupancy levels -leasing -leasing -working -working -leasing -leasing -working -leasing - TM -working c.62% 1. Excluding Pocharam (Asset held for sale) ~3.7 msf Pre-let out of 6.0 msf under construction 100% Committed Occupancy Across 7 assets spanning c. 5.3 msf 96-99% Committed Occupancy Across 3 Parks spanning c. 20 msf Asset City Type Tenant Leased (ksf) One Radial Chennai New area GCC 463 The Square 110 Hyderabad Re-leasing/New area Hospitality 265 Madhapur Hyderabad New area GCC 219 Yerwada Pune New area Hospitality 199 Ascent, Worli Mumbai Re-leasing Textiles 52 Pallikaranai Chennai New area Co-working 51 Airoli (E) Mumbai Vacant Co-Working 51 Malad Mumbai Re-leasing Technology- Processes 50 Others 266 Total 1,616
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 10 FY25- 2.6 msf exits, 0.8 msf retained, 1.8 msf exited out of which 1.1 msf re- lased ~58% re-leasing visibility for 2.3 msf expiries in FY27E Overview of Lease Expiry and Re-leasing spread Average Re-leasing Spread(2) (Since listing) 23.3 % 1. Includes efficiency adjustment of 31 ksf 2. Re-leasing spread includes spread on extensions and leasing of area vacant as of 30 June 26 for Q2 FY27 3. Includes early termination considered in FY27 for 0.5 msf 2.3 msf (3) 0.8 msf Expect to Retain 1.5 msf Expected Exits 0.5 msf Expect to Re-lease to New tenant in FY27 Area coming for scheduled expiry in FY28 and FY29 are 1.9 msf and 2.5 msf respectively Average Annual Lease expiry in last 4 Years c.3 msf FY27 Expiries Q2 FY27 – Healthy re-leasing spread of 24 %(1)(2) 0.6 msf Retained in H1 FY27
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02 Project Updates
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 12 Building 1, Madhapur: First redevelopment delivered Building 1, Madhapur: First redevelopment delivered H Y D E R A B A D Mindspace Madhapur – Building 1 - Office 1.5 msf Leasable area 100% Leased (1) Pre-committed to a BFSI GCC Jan 2027 Rent commencement Key highlights 1 Occupancy Certificate received 2 First redevelopment project completed 3 Redevelopment strategy validated Blueprint for Building 8 (1.7 msf) and beyond 4 Pre-committed c.2 years prior to completion 5 Rental income to commence in phases from January 2027 21 1. Includes hard-option of 0.5 msf
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 13 3.2 msf of Upcoming deliveries during the year • Leasable area: 1.7 msf • Status: Terrace slab completed • Estimated Completion: Q4 FY27 • Balance cost: INR 3,900 Mn • 91% pre-leased; fully to GCCs Hyderabad Mindspace Madhapur (B8 - Office) Remains on schedule • Leasable area: 0.25 msf • Status: Above Terrace structural works in progress • Estimated Completion: Q4 FY27 • Balance cost: INR 395 Mn • Pre-committed to PDG Navi Mumbai Mindspace Airoli West (B7 - Data Center) Chennai • Leasable area: 1.2 msf • Status : Terrace slab completed • Estimated Completion: Q4 FY27 • Balance cost : INR 3,030 Mn Commerzone Pallikaranai (Block 1 - Office) Balance Construction Capex – INR 51,902(1) Mn Note: Status is as of 30-Sep-26 1. Includes ongoing projects INR 25,852 Mn, future development projects INR 12,519 Mn, recently completed projects INR 1,908 Mn, upgrades INR 8,157 Mn and fit-out / general development INR 3,466 Mn Assessing the impact of commodity price increases on the balance construction cost Factored in a provision of 200 Cr increase in valuation while we review long term impact
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 14 Advancing the Next Phase of Portfolio Growth • Leasable area: 0.5msf • Status: 4th to 6th floor slabs in progress • Estimated Completion: Q2 FY28 • Balance cost: INR 2,011 Mn • Pre-committed to PDG Navi Mumbai Mindspace Airoli West (B11 Data Centre) • Leasable area: 0.9 msf • Status: Raft foundation in progress • Estimated Completion: Q1 FY30 • Balance cost: INR 5,229 Mn • C.0.3 msf pre-let to Chalet Hotels Navi Mumbai Mindspace Airoli East (B17 Mixed Use – Office + Hotel) • Leasable area: 0.5 msf • Status: Footing & retaining wall works in progress • Estimated Completion: Q2 FY29 • Balance cost: INR 2,612 Mn • Pre-let to Chalet Hotels Mindspace Madhapur (B18 Hotel) Hyderabad Note: Status is as of 30-Sep-26
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 15 Commenced development of 3 New Projects • Leasable area: 0.32 msf • Status: Foundation WIP • Estimated Completion: Q3 FY28 • Balance cost: INR 1,970 Mn • Pre-committed to PDG Navi Mumbai Mindspace Airoli West (B9A - Data Center) • Leasable area: 0.37 msf • Status: Excavation In Progress • Estimated Completion: Q3 FY30 • Balance cost: INR 2,662 Mn Pune Commerzone Yerwada (B9 - Office) • Leasable area: 0.19 msf • Status: Excavation In Progress • Estimated Completion: Q1 FY29 • Balance cost: INR 740 Mn • Pre-committed to Chalet Hotels Commerzone Yerwada (Hotel) Pune Note: Status is as of 30-Sep-26
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 16 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Pearl Club : An Inclusive Ecosystem for all Lifestyle & Business Needs O P E N I N G November 2026 The Pearl Club opening its doors to members An inclusive ecosystem for lifestyle and business needs, with entertainment, sports, recreation and dining under one roof W H A T M E M B E R S G E T Entertainment Sports Lifestyle Recreation Dining LOCATION Hyderabad
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 17 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Continuously upgrading our parks to keep them energised C U R A T E D A M E N I T I E S Spaces to work, meet, eat and play Multifunctional lobbies, food courts, amphitheatres, sports and recreation across our campuses Sports Wellness Community COMMUNITY Multifunctional lobby F&B Food court CO MMUNITY Amphitheatre LO UNG ES Breakout lounges R ECR EATION Games lounge SP O R TS Indoor sports SP O R TS Box cricket SP O R TS Pickleball courts R ECR EATION Billiards C U R A T E D A M E N I T I E S Spaces to work, meet, eat and play Multifunctional lobbies, food courts, amphitheatres, sports and recreation across our campuses Sports Wellness Community COMMUNITY Multifunctional lobby F&B Food court CO MMUNITY Amphitheatre LO UNG ES Breakout lounges R ECR EATION Games lounge SP O R TS Indoor sports SP O R TS Box cricket SP O R TS Pickleball courts R ECR EATION Billiards Enhancing the Mindspace offering with a curated mix of amenities Transforming Our Parks into Vibrant Work and Lifestyle Destinations Continuously Upgrading Our Parks to Energise Every Experience
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03 Financial Update
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 19 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Cost of Debt 7.43% p.a.p.m Revenue from Operations (1) 29.8%10,099 Net Operating Income (1) 31.9%8,361 Distribution 24.3%4,415 DPU 6.67 p.u 14.4% Financial Performance Driven by Organic Cash Flows and Acquisitions Received Platinum LEED O&M certification across 16 Buildings in this quarter; ~13.4 msf/~52% of completed portfolio is now LEED O&M certified 1. Revenue from Operations & NOI numbers above include Regulatory Income/(Expense) of Power Business post re -classification 2. For the purpose of Net Debt and LTV calculation, Cash and Cash Equivalents, accounting & minority adj. are reduced from Gross Debt; and Market Value of Mindspace Madhapur is with respect to 89.0% ownership of REIT in Asset SPVs – KRIT, Intime and Sundew and 100% in Horizonview, Market Value of One Radial TM is with respect to 51% ownership of REIT in Radial IT Park Pvt Ltd Key Financial Indicators Q2 FY27 (Y-o-Y) Figures in INR Mn Loan to Value (2) 29.1% % 19,608 16,240 8,831 13.3 p.u 28.1% 29.9% 24.7% 15.0% H1 FY27 1. For the purpose of Net Debt and LTV calculation, Cash and Cash Equivalents, accounting & minority adj. are reduced from Gross Debt; and Market value as on 31 Mar 26 (Market value for Commerzone Pallikaranai as on 31 Dec 25 and One Radial TM as on 15 Mar 26); Market Value of Mindspace Madhapur is with respect to 89.0% ownership of REIT in the Asset SPV, Market Value of One Radial TM is with respect to 51% ownership of REIT in respective Asset SPVs (Y-o-Y)
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 20 NDCF Build-up Q2 FY27 1. Includes Regulatory Income/ (Expense) 2. Net of Interest income on Fixed Deposit of 89 Mn 3. Working capital adjustment includes income support for Sundew Real Estate,Sycamore and Content Recognised as equity in the SPV Financial Statement 4. NDCF of Energispace is negative by INR 1.3 Mn . Therefore It has been excluded from NDCF at SPV Level 5. During the Quarter ended Sep 2026, Mack Soft and Radial generated Net Distributable Cash Flows (NDCF) amounting to Rs 227 Mn. However due to accumulated losses in both the companies, as provided in the Companies Act 2013, dividend could not be distributed Particulars (INR Mn) Q2 FY27 Revenue from Operations(1) 10,099 Property Taxes & Insurance (301) Other Direct Operating Expenses (1,437) Net Operating Income (NOI) 8,361 Property Management Fees (252) Net Other Expenses (89) EBITDA(1) 8,019 Cash Taxes (Net of Refunds) (876) Working Capital changes and other adjustments (3) 1,036 Cashflow from Operations 8,179 Other Income 21 Finance Costs on borrowings including accrued interest (excluding interest to REIT) (Net)(2) (1,099) Reserves created pursuant to debt obligations (82) Negative NDCF adjustment pertaining to Energispace (4) 1 NDCF (SPV Level) 7,020 Proceeds to shareholders other than Mindspace REIT (189) NDCF (SPV Level) for REIT 6,831 Distributions from SPV to REIT (5) 6,579 Finance Cost at REIT level including accrued interest (2,064) Other Inflows / (Outflows) at REIT Level (88) NDCF (REIT Level) 4,427 Distribution 4,415
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 21 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Delivered Healthy Distribution Growth 02 November 2026 Declaration Date 05 November 2026 Record Date Payment Date On or before 13 November 2026 Key Dates for Q2 FY27 Dividend, ₹4.17, 62.5% Repayment of Capital, ₹2.50, 37.5% Q2 FY27 Distribution overview ₹6.67 p.u. 5.6% (1) DPU Yield Q2 FY27 INR 6.67 p.u. INR 4,415 Mn Distribution 1. Annualized distribution yield basis Q2 FY27 distribution calculated on closing price of INR 476.17 p.u. as on 29 Oct 2026.
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 22 NCDs/CPs 58% LRD/LAP/CF 33% OD/LOC/ WCDL / STL 9% 17,900 24,500 28,600 5,000 13,000 17,000 10,141 15,237 3,934 6,782 3,158 39,128 FY27 FY28 FY29 FY30 FY 31 FY 32 & Beyond REIT level SPV Level Balancing Debt and Growth 1. For the purpose of Net debt and LTV calculation, Cash and Cash Equivalents, accounting & minority adj. are reduced from Gross debt and Market value is as on 30-Sep-26 2. Excluding accrued interest 3. Represents 100% of the SPVs including minority interest in Madhapur SPVs and One Radial TM, excluding CCDs 4. EBITDA divided by Interest expense as per Profit and Loss Statement on Trailing 12-month basis • Issued NCDs of INR 11,000 Mn in Q2 at an effective rate of 7.52% papm • 58% of borrowings in the form of fixed cost securities Diversified Book with a mix of debentures and bank borrowings(2) Gross Debt(3) INR 184 Bn Fixed interest rate 773 Total INR (mn) Weighted Average Maturity 5.0 years Note: As of 30-Sep-26 ₹ 1,60,664 Mn Net Debt (1) 29.1% Net Debt to Market Value (1) INR 6,336Mn Undrawn Committed Facilities 7.43% Cost of Debt (p.a.p.m) 2.8x Interest Coverage Ratio(4) Repayment (%) 28,041 39,737 32,534 11,782 16,158 56,128 15.2% 21.6% 17.6% 6.4% 8.8% 30.4%
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2-Nov-26 04 Our Growth Drivers
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Source and FootNote Guideline No content left of this line No content right of this line No content left of this line No content right of this line 1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Place content below this line Place content below this line (1) Based on average current market rent estimates; May undergo changes as per market conditions (2) Includes area under development and planned development, subject to approvals (3) Assets acquired post Q1 FY26 - Square 110, Financial District, Ascent Worli, The Square 98, BKC Annexe, Pune IT Building and Commerzone Pallikaranai and One Radial TM , Strata units in Mindspace Madhapur and Commerzone Yerwada Organic NOI Addition of over INR 17-18 Bn over next 3 years Delivery by year (msf) 3.2 H2 FY27 0.9 FY28 0.8 FY29 3.9 FY30 & later 8.7 msf of Under construction + Future Development Portfolio MTM Hyderabad MTM 22.8% 46.0% c.INR 17–18 Bn (1) Next 3 years · 5 organic drivers c.2.9 msf Vacant Area Leasing c.8.7 msf (2) Under Development MTM Growth in Rentals Contractual Escalations 7.0 msf (3) Recent Acquisitions 24
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Source and FootNote Guideline No content left of this line No content right of this line No content left of this line No content right of this line 1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Place content below this line Place content below this line 275.0 500.6 316.8 565.1 Jun-20 Dec-20 Jul-21 Jan-22 Jul-22 Jan-23 Aug-23 Feb-24 Aug-24 Feb-25 Aug-25 Mar-26 Sep-26 Price NAV 2 - N o v - 2 6 Strong Value Creation Track Record Consistent NAV uptick and proven track record DPU CAGR (1) NAV CAGR 15%17% 10%14% Last 1-year Last 3-years Occupancy Growth Robust leasing Sector-Leading NAV & DPU Growth reflecting sustained value creation and cashflow growth Rental Buoyancy Core Markets Enhancing Portfolio Scale Accretive acquisitions Redevelopments Unlocking hidden value DC/Hotel/Clubs New Growth Avenues 78% POST COVID 1. CAGR computed basis trailing 4-quarter DPU, excluding one-off in Q4 FY25 25
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05 India Office and AI
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 27 Place content below this line Place content below this line 2-Nov-26 Strong Value Creation Track Record (1) GCC share, 9M 2026 (pan-India) 42.9% of India gross leasing — a record India gross leasing 9M CY2026 c.61 mn sq ft # of GCCs entering India 200+ Over last two years GCC share of overall India gross leasing (%) (1) 2023 38.2% 2024 35.9% 2025 37.5% 9M 2026 42.9% GCC Expansion Underscores Long-Term Confidence AI Adoption Has Not Slowed GCC Entry and Expansion Increasing shift of strategic, product and R&D functions to India. GCC Momentum Remains Strong Industry Data: Source (JLL); 1. Share of portfolio including pre-let area at period end. 2. 3rd party IT / ITeS: firms selling IT services to external clients on a billed basis.
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 28 Place content below this line Place content below this line 53.7% 50.7% 51.7% 0.4% 2.9% 3.7% 2.2% 4.8% 4.4% 21.9% 21.2% 18.8% GCC Hotel DC 3rd Party IT/ ITeS 2-Nov-26 Strong Value Creation Track Record (1) Portfolio Mix Evolving - Building an AI resilient portfolio • Rising contribution from GCCs, Data Centers and Hotels • AI Adoption Drives Demand for Digital Infrastructure – DCs a major beneficiary • Hotel Exposure Adds Distinct Advantage – de-coupling from traditional demand drivers • IT / ITeS exposure trending downwards • Despite flattish IT headcounts, net leasing to IT/ITES occupiers positive at portfolio- level • Flight to quality play with premium assets in high demand Mindspace GCC + Hotel+ DC vs. 3rd party IT share of portfolio (%) (1) (2) Mindspace 3rd Party IT / ITeS Net leasing (ksf) (2) 293 413 168 FY25 FY26 H1 FY27 Source: JLL 1. %ge by area; share of portfolio including pre-let area at period end 2. 3rd party IT / ITeS: firms selling IT services to external clients on a billed basis FY 25 FY 26 56.4% 58.4% H1 FY 27 59.8%
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 29 Place content below this line Place content below this line 2-Nov-26 Strong Value Creation Track RecordAsset Diversification through addition of complimentary asset classes All numbers are as of 30th September 26 Building one of the largest Office-first portfolio with adjacent asset classes enhancing value creation c. 43 msf c. 1.7 msf c. 0.3 msf c. 1.4 msf 5 DCs F&B & Clubs Data center facilities Pearl Club, Highstreet & Food Courts Commercial/ Office 5 Hotels (c. 1,150 keys) Largest segment in portfolio Hospitality Mumbai region, Hyderabad & Pune 3.4 msf of Portfolio by Area in asset classes other than Office Total Portfolio area c. 46.4 msf
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and Footnotes Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 30 Place content below this line Place content below this line 2-Nov-26 Strong Value Creation Track RecordDeepening Pre-commitments alongside Stable Leasing Tenures – AI Impact Not Yet Visible 1. Wtd. Average by area; Leasing tenure for gross leasing during the respective period (including pre -leases excluding Hotels & DC) 2. Pre-commitments of office-clients only (excluding Hotels & DC) 3. Source: Industry Data (JLL) 8.8 → 9.3 Mindspace portfolio weighted average lease tenure on gross leasing (yrs) (1) Leasing tenures continue to remain stable & long-term oriented Pre-committing to large space over 5 to 10 years Occupiers doubling down on growth ahead Despite noise on AI shortening planning horizons for tenants 8.8 9.3 FY25 FY26 7 11.7 14 9.7 2023 2024 2025 9M 2026 0.8 2.5 1.5 FY 2024 FY 2025 FY 2026 Pre-commitments (%age of gross leasing) Mindspace (2) (msf)Pan - India (msf) (11%) (15%) (16%) (16%) (41%) (23%) (22%) (17%)
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06 Our Markets
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 32 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Indian Office Sector: Riding the Winds of Favorable Trends (1) JLL Research c.45% % contribution of GCCs in office space transactions in 9MCY2026(1) c.38% % share in overall leasing activity in Q3 2026(1) 41.6 msf Net absorption in 9M CY2026(1) 4.6% Growth YoY Emerging trends in India’s Office Market Sustained Demand by Domestic Occupiers Return to Office GCC landscape 80%-90% Physical Occupancy in India offices(1) c.61 msf Overall gross leasing activity in 9MCY 2026 Strong demand from flex operators, manufacturing, tech and BFSI tenants Domestic Occupiers capitalizing on India’s growing economy Leading IT companies mandating return to office India leading return to office trend globally 278+msf occupied office space by GCCs 200+ GCCs entered India in last 2 years
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 33 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 GCCs: India a preferred destination (1) JLL Research (2) NASSCOM c.34% % share of GCC in India’s Grade A Office Occupied Stock (2) 124.9 msf Total space leased by GCCs since CY 2022-9MCY2026(2) c. 2.4 Mn GCC employees in India(1) GCC Growth forecast GCC office likely to grow from 278 msf to 300 msf by next year c.85% Lower average salary of engineers viz-a-viz developed countries(2) Factors driving GCC leasing in India Talent Cost Advantage Rentals Arbitrage India’s economic and Infrastructure Growth 2,100+ 2,350+ 278+ 300+ 120 139 158 177 196 215 234 253 272 291 310 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200 2,300 2,400 CY Q3 2026 CY 27 F No. of GCCs GCC stock (msf) 1. (1) 2. (2)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 34 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Source: (1) JLL Research (2) NASSCOM Hyderabad – Second largest Tech hub of India Progressive government policies and Infrastructure growth are key market drivers 9.4 Lakh ~10 msf 2nd~7.7 msf Tech workforce in Telangana driven by Hyderabad(1) Leasing activity in 9MCY2026 (1) ~32% higher than 9MCY2025 Highest avg. absorption since CY 2019 across India(1) (behind Bengaluru) Avg. net annual absorption since CY 2019(1) ~14% Hyderabad’s share of all India GCCs(2) ~515+ GCCs in Hyderabad(2) 330k+ Talent pool in GCC Hyderabad(2) c.50% Share of GCCs in Hyderabad leasing between CY20 –Q3 2026(1) Hyderabad’s GCC Landscape Major GCCs present in Hyderabad Microsoft Amazon Bank of America Verizon Wells Fargo Uber Charles Schwab Modmed 1. (1) 2. (2)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 35 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 (1) Source: JLL Madhapur as the preferred office market drives highest absorption in Hyderabad 80 msf 2nd (in Size) c.102 Rs psf~61% 51% share of City’s office stock(1) Share of net absorption since CY 2019(1) Highest rentals amongst all micro markets(1) Largest micro market across India (1) 1. (1)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 36 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Source: Publicly available information. (1) JLL. Mumbai Region - Infrastructure projects upgrades driving office demand uptick 143.5 msf 4.2 msf c.38%c.5.2 msf Completed Stock as on Q3 CY2026(1) Net absorption in 9MCY2026(1) % share of net absorption since CY 2019 in Mumbai Region (1) Avg. net annual absorption since CY 2019(1) Navi Mumbai – A Preferred Location with Accessible Talent Combined activity in Thane-Belapur and Malad-Goregaon micro-market Ranked amongst top 3 in terms of overall quality of living in India Ranked 3rd , 2nd time in a row, in cleanliness index(1) in India Ranks best in terms of traffic index Airoli Katai Naka Tunnel Road Navi Mumbai International Airport Inaugurated Navi Mumbai metro commenced in 2023 Infrastructure upgrades aiding Airoli’s office leasing growth 1. (1)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 37 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Source: (1) JLL. (2) SBD East includes Airport Road, Jail Road, Yerawada, Nagar Road, Viman Nagar, Kalyani Nagar, Kharadi, Hadapsar. Pune - Thriving Office Market with Excellent Social Infrastructure ~4.1 msf Avg. annual net absorption since CY 2019 (1) 59% Share of net absorption since CY 2019(2) 54 msf 56% share of City’s office stock(2) c.10.7 % Vacancy rate as of Q3 CY2026 (2) 85-90 Rs psf 2nd Highest rentals amongst all micro markets(2) SBD East Micro Market(1) 96.3 msf Completed Stock as on Q2 CY20266 (1) Ranked amongst top 3 in terms of overall quality of living in India • Pune - Mumbai express way Missing link project reduced travel time by 20-25 mins • Atal setu improved connectivity from Mumbai to Pune Pune Airport capacity expansion by 12 Mn passengers Mumbai-Pune Expressway Atal Setu, Mumbai 1. (1) 2. (2)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 38 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Source: (1) JLL. (2) South West includes Porur, Guindy, Ashok Nagar, Vadapalani, Manapakkam, Ekkaduthangal. Chennai - One of the key growth markets ~3.9 msf Average annual net absorption since 2019(1) 31% Share of net absorption since 2019 (1) 24 msf 28% share of City’s office stock(2) South-West Micro Market(1) 88 msf Completed Stock as on Q3 CY2026(1) Healthy net absorption in 9M CY2026 Chennai Airport Chennai Metro 2.0 2.0 3.3 6.6 5.0 5.8 2.9 2020 2021 2022 2023 2024 2025 9M CY2026 1. (1) 2. (2)
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07 Our Franchise & Portfolio
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 40 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Sponsored by One Of India’s Leading Real Estate Group ✓ JW Marriott ✓ Renaissance Hotels ✓ The Westin ✓ Marriott Bengaluru Whitefiield ✓ Four Points by Sheraton ✓ JW Marriot Mumbai Juhu ✓ Marriott Executive Apartments ✓ The Resort Developed residential projects across 5 cities Strong experience of working with institutional investors - GIC, Blackstone, JP Morgan, HDFC 3 listed entities in the group – Shoppers Stop, Chalet Hotels and Mindspace REIT with total market cap of >USD 5bn Operates 288 retail outlets across India Retail Over 6 Decades of experience Pan India presence INR 562 Bn (4) Market Capitalization of 3 listed entities Office Leasable Area c.65 msf (1) c.5,500+ (2) keys Group Hotels Partner with Marriott, Accor Group and IHCL(3) Hospitality Residential 8 operational and 1 under- construction 9 malls Malls 250+ MW Capacity(5) Data Centre Growing Data Centre Footprint Note: All data as on 30th September 2026 1. Includes completed area – c. 43 msf; under construction and future development – c. 23 msf; includes REIT and sponsor’s portfolio 2. Includes joint ownership assets of K Raheja Corp: c.1655 keys under development 3. Marriot Hotels India Pvt. Ltd and its affiliates| AAPC India Hotel Management Private Limited 4. As on 30th September 2026 5. At Mindspace Airoli West (existing and under construction)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 41 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Market-leading Office REIT: Well-positioned to cater to institutional occupiers 1. Market Value of Mindspace Madhapur is with respect to 89.0% ownership of REIT in Asset SPVs – KRIT, Intime and Sundew and 100% in Horizonview, Market Value of One Radial TM is with respect to 51% ownership of REIT in Radial IT Park Pvt Ltd 2. PTR – Pallavaram Thoraipakam Road, also known as Radial Road, Chennai Mumbai Hyderabad Chennai Pune Located strategically in established office micro-markets 46.4 msf Total Leasable Area INR 552 Bn Gross Asset Value(1) Mumbai Region 16.5 msf Pune 6.3 msf Hyderabad 17.2 msf Chennai 6.3 msf Large-Scale Campuses in Core Markets with High Barriers to Entry Assets anchored by Scale, Location and Infrastructure Integrated Business Ecosystems with Hotels, F&B and Lifestyle Amenities Presence in Worli, BKC, Malad-Goregaon and Navi Mumbai IT Corridor markets Presence in Madhapur & Financial District micro-market Presence in SBD East (Kharadi, Yerwada, Nagar Road, Kalyani Nagar) micro market Presence in Porur & PTR(2) micro-market
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 42 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Delivered Robust Performance c.33 msf(1) Gross Leasing c.9.3 Area Acquired 5.3 msf Delivered New Developments INR 125.7 pu Cumulative DPU since listing(2) 16.2%% Annualized returns(3) 7.43% p.a.p.m. Cost of Debt as on 30 Sep 26(4) Cumulative distribution of INR 76.4 Bn since listing 1. Includes releasing and vacant area leasing 2. Includes DPU since listing till Q2 FY27. 3. Annualized Returns as of 30th September 2026 including distribution for Q2 FY27 4. Represents 100% of the SPVs including minority interest in Madhapur SPVs & Radial IT Park Pvt Limited 5. CAGR for a period 30-Sep-20 to 30-September -26 6. Market Value of Mindspace Madhapur is with respect to 89.0% ownership of REIT in Asset SPVs – KRIT, Intime and Sundew and 100% in Horizonview, Market Value of One Radial TM is with respect to 51% ownership of REIT in Radial IT Park Pvt Ltd 7. For the purpose of calculation, Net Debt is considered post accounting & minority adjustment, as of 30 September 2026. 7.0% CAGR In-place rent(5) 29.1% % Loan to Market Value(6)(7) INR 67.6 Bn Total distribution(2)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 43 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (1/7) 13.9 msf Leasable Area 11.7 msf Completed Area 98.6% Committed Occupancy Mindspace Madhapur, Hyderabad 1.8 msf Leasable Area 1.8 msf Completed Area 100.0% Committed Occupancy Commerzone Raidurg, Hyderabad Data as of 30-Sep-26
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 44 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (2/7) 3.0 msf Leasable Area 3.0 msf Completed Area 99.1% Committed Occupancy Commerzone Kharadi, Pune 2.4 msf Leasable Area 1.9 msf Completed Area 94.3% Committed Occupancy Commerzone Yerwada, Pune Data as of 30-Sep-26
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 45 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (3/7) 0.8 msf Leasable Area 0.8 msf Completed Area 100.0% Committed Occupancy The Square Nagar Road, Pune 1.2 msf Leasable Area 1.2 msf Completed Area 100.0% Committed Occupancy Commerzone Porur, Chennai Data as of 30-Sep-26
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 46 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (4/7) 7.4 msf Leasable Area 5.0msf Completed Area 85.2% Committed Occupancy Mindspace Airoli East, Navi Mumbai 7.5 msf (Incl. Datacenter of 1.7 msf) Leasable Area 5.4 msf Completed Area 96.9% Committed Occupancy Mindspace Airoli West, Navi Mumbai Data as of 30-Sep-26
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 47 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (5/7) 0.8 msf Leasable Area 0.8 msf Completed Area 100.0% Committed Occupancy Mindspace Malad, Mumbai 0.1 msf Leasable Area 0.1 msf Completed Area 100.0% Committed Occupancy The Square BKC, Mumbai Data as of 30-Sep-26 0.9 msf Leasable Area 0.8 msf Completed Area 83.6% Committed Occupancy The Square 110 Financial District, Hyderabad
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 48 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (6/7) 0.5 msf Leasable Area 0.5 msf Completed Area 100.0% Committed Occupancy Ascent – Worli, Mumbai 0.2 msf Leasable Area 0.16 msf Completed Area 100.0% Committed Occupancy The Square Avenue 98 (BKC Annex), Mumbai Data as on 30-Sep-26 1. Committed occupancy is 100% for office building; amenity building is currently vacant 0.1 msf Leasable Area 0.1 msf Completed Area 87.5%(1) Committed Occupancy IT Building, Pune
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 49 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 High Quality Office portfolio in Prime Locations (7/7) 2.6 msf Leasable Area 1.4 msf Completed Area 77.5% Committed Occupancy Commerzone Pallikaranai, Chennai 2.6 msf Leasable Area 2.6 msf Completed Area 74.6% Committed Occupancy One Radial TM, Chennai Data as of 30-Sep-26
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 50 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Technology (Health tech,Dev. & processes), 34.9% Financial Services, 16.2% Telecom & Media, 8.7% Healthcare & Pharma, 1.8% Professional services, 5.1% Engineering,M anufacturing & Processes 18.4% E-Commerce, 2.2% Flexible workspace, 9.8% Others, 2.9% Diversified Portfolio of Marquee Tenants Diversified tenant mix across sectors % split by Gross Contracted Rentals(1) Top 10 tenants Gross Contracted Rentals contribution (30%) % of total Gross Contracted Rentals(1) Top 10 tenants contributing 30% (Sep-26) vs. 30.2% (Jun-26) 1. Basis Gross Contracted Rentals as on 30-Sep-26 Total Tenants 314 Datacenter -1.8% GCC contribute c.52% of the portfolio 5.8% 5.7% 2.6% 2.4% 2.4% 2.4% 2.3% 2.2% 2.0% 2.0% # of parks 2 2 2 2 4 2 2 1 2 1 Qualcomm Tablespace L&T Accenture British Petroleum Wipro Cognizant Hitachi Energy HDFC J.P.Morgan
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 51 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Marquee Tenant Base 72% 30% 41% Share of foreign MNCs in rentals (1) Share of top 10 tenants in rentals (1) Share of Fortune 500 companies in rentals (1)(2) Technology Financial Services Diversified Leading MNCs and Fortune 500 companies across sectors Technology Financial Services Diversified 1. Represents % of Gross Contracted Rentals as on 30-Sep-26 2. Fortune 500 Global List of 2025 AMD Nvidia Accenture Wipro Cognizant IBM L&T NCR Princeton Barclays SMFG Goldman StateStreet B.A. Continuum BNP Paribas J.P. Morgan UBS Smartworks Verizon Hitachi energy Qualcomm British petroleum Walmart Amazon 1. (1)
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08 Re-energizing Parks
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 53 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Dynamic Environment, Vibrant Workspaces
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 54 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Energized Landscape for Business Excellence
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 55 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Infusing modern design elements to elevate experience Tailoring common areas to meet the evolving preferences of tenants
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 56 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 SOCIALising at Vantage Café in the Park One of the largest SOCIAL OUTLETS in the country The first-ever SOCIAL in Hyderabad
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 57 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Tenant Engagement Initiatives, Designed to Build Camaraderie YOGA CHAMPIONSHIP 2026 IPC EVENT - HYDERABAD IPC EVENT - CHENNAI IPC EVENT - CHENNAI BRAND BUILDING IPL KNOCKOUTS LIVE – SCREENING IPC EVENT - CHENNAI MINDSPACE UNPLUGGED MINDSPACE UNPLUGGED
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09 Value creation via ESG
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 59 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 ESG - Key Highlights Notes: (1) All numbers are as on 31 Mar 2026, except where specified (2) Renewable energy mix considered for common area and areas controlled by Mindspace REIT 50.4% Renewable energy mix Scope 1+2 emission* 54,298 tCO2e (33.4% reduction from FY20 baseline) 15,89,333 KL Water Recycled 45.6% of material sourced using sustainable sourcing* 17.9 msf Green Leased Area (as on 30 Sep’26) INR 12 Bn Sustainability linked Bond subscribed by IFC 23% Women in senior Management 60% Independent members on the Board of director
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 60 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Key Achievements and Awards • Airoli East Campus: IGBC Green Landscape Gold Rating • BW Sustainable World Awards 2026: Winner of Data & Tech-Driven ESG Transformation • Kharadi Campus: 18th Realty+ Excellence Awards 2026 : West IT Park Project of the Year Mindspace REIT: Real Estate Excellence Received 5 stars GRESB rating for 4th consecutive year Named Global and Regional Sector Leader1 SBTi Validation for Net Zero Target FY2042 UN Global Compact Participant, reaffirming commitment to the Ten Principles 1. Across Development and Standing Investments category
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 61 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Focus On High Corporate Governance Standards • 60% independent directors on the Board • Manager can be removed with 60% approval of unrelated unitholders • Comprises experts from tax, regulatory, investment banking and other domains • Marked by age diversity Board Independence • Fostering a gender agnostic and equitable work culture • Policies fortifying a non-discriminative and transparent environment at the workplace Diversity & Inclusiveness • Guided by accountability, fairness and transparency with all stakeholders • Protecting Unitholder interests with stringent safeguards in place Robust Policy Framework Strong governance framework complemented by partnership with leading institutional investors Pride Side Mindspace REIT: Top-Notch Standards 10 Member Board / Independent Chairman Independent Directors Non-Independent Directors POSH Aanchal Supporting Policies & Initiatives Reach Out Anti- corruption Insider Trading Related Party Transactions Code of Conduct 6 4
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10 Shareholding Pattern
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m i n d s p a c e r e i t . c o m 63 Unitholding Pattern as on 30 September 2026 MARKET CAP INR 33,140 Cr1 FREE FLOAT 34.2% TOTAL UNITHOLDERS 1,17,916 vs 78,368 in September 2025 ADDED IN 12 MONTHS c. 40,000 +51% YoY UNITHOLDING BY CATEGORY UNITS OUTSTANDING 662 Mn units 65.8% 34.2% Sponsors & sponsor group Public MARQUEE LARGE INVESTORS Capital Group ICICI Pru MF Vanguard 1.3% 3.4% 3.0% 4.1% 10.1% 12.3% 65.8% AIF DIIs Insurance Mutual funds NIIs FIIs Sponsors / sponsor group 1. Closing price of INR 500.66 p.u. as on 30 September ,2026
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11 Annexure
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 65 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Strong NOI Growth Driven by Rental Growth and Contribution from Acquisitions 1. Revenue from Operations & NOI numbers above include Regulatory Income/(Expense) of Power Business post re -classification 2. Considered escalations only on area out of lock in, as escalations within lock in have straight lining impact • Rental addition from acquisitions in Mumbai, Hyderabad, Chennai and from new leases in Airoli and Madhapur • Growth in rentals due to 26.4% MTM achieved over 3.5 msf re-leased since Q2 FY26 • Lease Rent Escalations of 11.3% over an area of 7.1 msf(2) across the portfolio since Q2 FY26 NOI (Q2 FY27 vs Q2 FY26) - Reasons for variances % of NOI Q2 FY27 Q2 FY26 H1 FY27 Q2 FY27 Q2 FY26 H1 FY27 Q2 FY27 Mindspace Airoli (E) 1,168 988 2,421 904 737 1,840 11% Mindspace Airoli (W) 1,462 1,297 2,904 1,161 992 2,308 14% Mindspace Malad 291 269 571 255 240 500 3% The Square BKC 117 111 229 109 103 215 1% The Square Avenue 98 92 - 184 88 - 177 1% Ascent-Worli 412 - 824 370 - 735 4% Mumbai Region 3,542 2,666 7,133 2,887 2,072 5,775 35% Gera Commerzone Kharadi 995 928 1,959 825 786 1,622 10% The Square Nagar Road 267 244 526 205 187 403 2% Commerzone Yerwada 640 577 1,247 508 454 970 6% Pune IT Building 32 - 56 26 45 0% Pune 1,934 1,749 3,788 1,564 1,428 3,040 19% Mindspace Madhapur 2,981 2,542 5,806 2,491 2,155 4,920 30% Commerzone Raidurg 493 393 982 396 309 789 5% The Square 110 financial district 132 93 270 84 (44) 173 1% Mindspace Pocharam - 0 0 (7) (6) (14) 0% Hyderabad 3,606 3,028 7,058 2,964 2,414 5,868 35% Commerzone Pallikaranai 266 - 421 204 - 315 2% One Radial TM 367 - 453 229 - 277 3% Commerzone Porur 363 332 710 287 267 561 3% Chennai 996 332 1,584 720 267 1,152 9% Facility Management Business 653 447 1,197 226 159 405 3% Inter Company Eliminations (632) (443) (1,152) - - - - Total 10,099 7,778 19,608 8,361 6,339 16,240 100% Assets Revenue from Operations (INR Mn) NOI (INR Mn)
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m i n d s p a c e r e i t . c o m 66 Structure of Mindspace REIT 1. ‘K Raheja Corp Investment Managers LLP’ has been converted from Limited Liability Partnership to a Private Limited company wef July 07, 2023 2. 11% shareholding in these Asset SPVs is held by Telangana State Industrial Infrastructure Corporation Limited (TSIIC) 3. % indicates Mindspace REIT’s shareholding in respective Asset SPVs 4. % indicates Horizonview Properties Pvt. Ltd. shareholding in MSTPL 5. Remaining 26% is collectively held by Select SPVs 6. Remaining 49% is held by affiliates of 360 One Alternates Asset Management Limited 7. Horizonview holds c. 0.1 msf of Mindsapce Madhapur acquired in Q2 FY27 SPV: K Raheja IT Park (Hyderaba d) Ltd. 89%(2) (3) SPV: Intime Properties Ltd. 89%(2) (3) SPV: Sundew Properties Ltd. 89%(2) (3) SPV: Avocado Properties & Trading (India) Pvt. Ltd. 100% (3) SPV: Mindspace Business Parks Pvt. Ltd. 100%(3) SPV: Gigaplex Estates Pvt. Ltd. 100%(3) SPV: KRC Infrastructur e and Projects Pvt. Ltd. 100%(3) SPV: Sustain Properties Private Limited 100%(3) Mindspace Madhapur Hyderabad – SEZ/ IT Park(7) Paradigm Mindspace Malad, Mumbai Region – IT Park Mindspace Airoli (E), Mumbai Region - SEZ Mindspace Airoli (W), Mumbai Region – SEZ/ IT Park Gera Commerzone Kharadi, Pune – SEZ/ IT Park Commerzone Porur, Chennai – IT Park Commerzone Raidurg, Hyderabad, SEZ The Square BKC, Mumbai Region - Commercial Commerzone Yerwada, Pune – IT Park The Square Nagar Road, Pune Commercial IT Park Mindspace Pocharam, Hyderabad Trust Mindspace Business Parks REIT Trustee Axis Trustee Services Limited Manager K Raheja Corp Investment Managers Private Limited(1) Unitholders DistributionInvestment In Mindspace REIT Facility Management Division The Square, 110 Financial District – IT Park SPV: Mack Soft Tech Pvt. Ltd. 100%(4) Hold Co: Horizonview Properties Pvt. Ltd. 100%(3)(7) SPV: Sundew Real Estate Private Limited 100%(3) The Square Avenue 98 (BKC Annex) SPV: Pramaan Properties Private Limited 100%(3) Ascent-Worli Pune IT Building SPV: Energispace Power Private Limited 74%(3)(5) SPV: Radial IT Park Private Limited (51%) International Tech Park, Chennai SPV: Sycamore Properties Private Limited (100%) (3) Commerzone Pallikarnai - Block 1 & 2 SPV: Content Properties Private Limited (100%) (3) Commerzone Pallikarnai – Block 3 (3)(6)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 67 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Portfolio Summary 37.7 msf of Completed area with WALE of 7.2 years and MTM potential of 22.8%(1) Note: As of 30-Sep-26 (1) Market rent of INR 100.1 psf considered for calculating MTM potential (basis valuer estimates) Asset Total Leasable Area (msf) Completed Area (msf) UC/Future Area (msf) Occupancy (%) Committed Occupancy (%) WALE on area (years) In-place Rent (INR psf) Mindspace Airoli East 7.4 5.0 2.4 78.6% 85.2% 4.9 69.7 Mindspace Airoli West 7.5 5.4 2.1 96.8% 96.9% 8.6 68.3 Mindspace Malad 0.8 0.8 - 100.0% 100.0% 3.5 111.2 The Square BKC 0.1 0.1 - 100.0% 100.0% 5.2 240.0 Ascent Worli 0.5 0.5 - 96.7% 100.0% 7.5 321.4 The Square Avenue 98 0.2 0.16 0.05 100.0% 100.0% 1.1 197.1 Mumbai Region 16.5 12.0 4.6 89.4% 92.3% 6.7 86.5 Gera Commerzone Kharadi 3.0 3.0 - 99.1% 99.1% 6.7 89.0 The Square Nagar Road 0.8 0.8 - 100.0% 100.0% 6.0 86.7 Commerzone Yerwada 2.4 1.9 0.6 94.2% 94.3% 5.0 88.4 Pune IT Building 0.1 0.1 - 87.5% 87.5% 5.8 86.2 Pune 6.3 5.8 0.6 97.4% 97.4% 6.1 88.4 Mindspace Madhapur 13.9 11.7 2.3 85.3% 98.6% 7.1 79.9 Mindspace Pocharam 0.6 0.6 - 0.0% 0.0% - - Commerzone Raidurg 1.8 1.8 - 100.0% 100.0% 10.0 69.1 The Square 110 financial district 0.9 0.8 0.1 52.1% 83.6% 3.0 61.7 Hyderabad 17.2 14.9 2.3 82.0% 94.2% 7.4 77.6 Commerzone Porur 1.2 1.2 - 100.0% 100.0% 7.6 67.6 Commerzone Pallikaranai 2.6 1.4 1.2 77.5% 77.5% 10.5 69.0 One Radial TM 2.6 2.6 - 56.6% 74.6% 10.4 71.2 Chennai 6.3 5.1 1.2 72.0% 81.1% 9.6 69.5 Portfolio Total 46.4 37.7 8.7 85.4% 92.3% 7.2 81.5 1. (1)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 68 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Breakup of Lease Expiry Profile Asset Q3-Q4 FY27 FY28 FY29 Area Expiring (msf) % of Gross Contracted Rentals Rent at Expiry (INR psf) Area Expiring (msf) % of Gross Contracted Rentals Rent at Expiry (INR psf) Area Expiring (msf) % of Gross Contracted Rentals Rent at Expiry (INR psf) Mindspace Airoli (E) 0.4 10.6% 68.2 0.0 0.0% 375.0 0.5 13.1% 77.9 Mindspace Airoli (W) 0.2 4.3% 75.3 0.7 12.7% 66.0 0.6 10.6% 74.4 Mindspace Malad 0.0 1.0% 97.8 0.1 7.3% 117.5 0.1 13.8% 109.1 The Square BKC - 0.0% - - 0.0% - - 0.0% - Ascent, Worli - 0.0% - - 0.0% - - 0.0% - The Square Avenue 98 - 0.0% - 0.2 100.0% 197.1 - 0.0% - Mumbai Region 0.7 5.0% 70.9 0.9 8.8% 90.8 1.2 9.3% 79.1 Commerzone Kharadi 0.0 0.1% 136.1 0.0 1.0% 85.4 0.0 0.1% 30.2 The Square Nagar Road - 0.0% - 0.1 4.8% 64.8 0.1 11.6% 90.6 Commerzone Yerwada 0.0 1.9% 87.4 0.5 30.3% 99.8 0.3 21.3% 98.6 Pune IT Building (Raheja Woods) - 0.0% - - 0.0% - - 0.0% - Pune 0.0 0.7% 89.5 0.6 12.0% 95.8 0.4 9.2% 94.7 Mindspace Madhapur 0.3 2.7% 75.2 0.3 2.6% 66.0 0.8 5.5% 60.2 Mindspace Pocharam - 0.0% - - 0.0% - - 0.0% - Commerzone Raidurg - 0.0% - - 0.0% - - 0.0% - The Square 110 Financial District 0.0 10.0% 62.9 0.1 21.1% 65.0 0.0 10.2% 93.7 Hyderabad 0.3 2.5% 73.6 0.4 2.7% 65.8 0.8 4.9% 61.5 Commerzone Porur - 0.0% - 0.0 0.0% - 0.1 4.7% 84.6 Commerzone Pallikaranai 0.0 0.0% 33.2 0.0 0.0% - 0.0 0.0% - One Radial TM - 0.0% - 0.0 0.4% 40.7 - 0.0% - Chennai 0.0 0.0% 33.2 0.0 0.1% 33.4 0.1 1.8% 84.0 Portfolio Total 1.0 2.7% 72.5 1.9 6.4% 86.6 2.5 6.9% 76.2
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 69 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 6.2 6.4 6.8 6.2 7.8 8.2 8.9 9.5 10.1 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Revenue (INR bn) (1) 5.0 5.2 5.4 6.2 6.3 6.7 7.4 7.9 8.4 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 NOI (INR bn) (1) Key Financial Metrics Note: NOI: Net operating income 1. Revenue from Operations & NOI numbers above include Regulatory Income/(Expense) of Power Business post re -classification Delivered consistent growth on key financial metrics 28.8% CAGR (Q2 FY25 to Q2 FY27) 27.3% CAGR (Q2 FY25 to Q2 FY27) 5.15 5.32 6.44 5.79 5.83 5.83 6.64 6.67 6.67 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Distributions (INR/unit) 96.1% (ex. Pocharam and Assets acquired in H1 FY27) 91.7% 91.5% 93.0% 93.7% 93.8% 94.5% 95.7% 92.1% 93.8% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Committed Occupancy (%)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 70 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Debt Maturity Schedule as on 30-Sep-26 Note: As of 30-Sep-26 NCD – Non-Convertible Debentures TL – Term Loan Principal outstanding for CP is the value payable on maturity FY27 FY28 FY29 FY30 FY31 FY32 & Beyond Total At REIT Level NCD4 Fixed 5,000 - 5,000 7.9% 0.8 - 5,000 - - - - 5,000 NCD 7 Fixed 5,000 - 5,000 7.9% 0.2 5,000 - - - - - 5,000 NCD 8 Fixed 3,400 - 3,400 7.9% 0.5 3,400 - - - - - 3,400 NCD 9 Fixed 5,000 - 5,000 7.9% 2.6 - - - 5,000 - - 5,000 NCD 10 Fixed 6,500 - 6,500 7.9% 4.7 - - - - - 6,500 6,500 NCD 11 Fixed 5,000 - 5,000 7.7% 1.4 - 5,000 - - - - 5,000 NCD 12 Fixed 6,000 - 6,000 7.2% 3.6 - - - - 6,000 - 6,000 NCD 13 Fixed 5,500 - 5,500 7.3% 6.9 - - - - - 5,500 5,500 NCD 14 Fixed 6,000 - 6,000 7.0% 1.0 - 6,000 - - - - 6,000 NCD 15 Fixed 7,000 - 7,000 7.1% 4.1 - - - - 7,000 - 7,000 NCD 16 Fixed 12,000 - 12,000 6.9% 2.2 - - 12,000 - - - 12,000 NCD 17 Fixed 5,600 - 5,600 7.1% 2.4 - - 5,600 - - - 5,600 NCD 18 Fixed 6,000 - 6,000 7.5% 1.8 - - 6,000 - - - 6,000 NCD 19 Fixed 5,000 - 5,000 7.6% 9.6 - - - - - 5,000 5,000 NCD 20 Fixed 5,000 - 5,000 7.6% 2.0 - - 5,000 - - - 5,000 CP Fixed 18,000 - 18,000 7.2% 0.8 9,500 8,500 - - - - 18,000 At SPV Level TL/LRD - MBPPL Floating 11,900 - 11,174 7.3% 10.5 236 561 661 785 936 7,994 11,174 TL/LRD - Sundew Floating 1,500 - 543 8.1% 4.7 39 98 110 117 141 38 543 TL/LRD - Pramaan Floating 7,081 - 6,965 7.4% 13.7 173 365 392 422 409 5,204 6,965 TL/LRD - KRC Infra Floating 14,190 - 11,369 7.4% 10.8 449 988 1,129 1,269 432 7,102 11,369 TL/LRD - Horizonview Floating 1,500 - 1,438 7.5% 10.1 16 44 78 111 144 1,044 1,438 TL/LRD - Gigaplex Floating 7,520 - 6,951 7.5% 12.7 120 279 334 416 484 5,318 6,951 TL/LRD - Sundew Real Estate Floating 2,500 - 2,149 7.7% 11.9 30 65 80 110 120 1,744 2,149 TL/LRD - Content Floating 4,450 - 4,450 8.3% 14.1 2 5 5 5 5 4,426 4,450 TL/LRD - Sycamore Floating 5,900 900.0 4,334 7.6% 5.1 147 317 335 2,354 374 807 4,334 TL/LRD - Radial IT Park Floating 12,646 416.0 12,230 7.7% 1.6 - 11,480 750 - - - 12,230 OD / LOC/ WCDL / STL Floating 21,796 5,019.8 16,776 7.3% 4.9 8,929 1,033 59 1,193 112 5,450 16,776 1,96,982 6,336 1,84,379 7.43% 5.0 28,041 39,737 32,534 11,782 16,158 56,128 1,84,379 Repayment (%) 15.2% 21.6% 17.6% 6.4% 8.8% 30.4% 100.0% Description (INR Mn) Fixed/ Floating Total Facility Undrawn Facility Principal O/S Interest Rate (p.a.p.m) Wt. Avg. Maturity (Years)
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 71 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Mumbai, 33.0% Hyderabad, 39.8% Pune, 14.4% Chennai, 10.2% Facility management Business, 2.6% De-risked Portfolio with ~91.1% Completed Assets Note: 1. As of 30 September 26 2. Market Value of Mindspace Madhapur is with respect to 89% ownership of REIT in Asset SPVs – KRIT, Intime and Sundew, Market Value of One RadialTM is with respect to 51% ownership of REIT in Radial IT Park Pvt Ltd Project wise Market Value breakup (1) Completed Assets form 91% of the Market Value(1) Breakup of Market Value basis Geography Completed 91.1% Under Construction 8.6% Future Development 0.4% 552 Bn(2) 1. (1) 2. (2) 2 552 Bn(2) Asset Completed U/C & Future Dev. Total Value % of Total Mindspace Airoli East 55,343 5,038 60,381 10.9% Mindspace Airoli West 61,199 9,407 70,606 12.8% Mindspace Malad 13,731 - 13,731 2.5% The Square 98, BKC Annex 6,452 1,175 7,627 1.4% Ascent 24,047 - 24,047 4.4% The Square, BKC 5,897 - 5,897 1.1% Mumbai Region 1,66,669 15,620 1,82,289 33.0% Gera Commerzone Kharadi 42,243 - 42,243 7.7% The Square, Nagar Road 10,504 - 10,504 1.9% Raheja Woods, Pune 1,507 - 1,507 0.3% Commerzone Yerwada 24,232 810 25,042 4.5% Pune 78,486 810 79,296 14.4% Mindspace Madhapur 1,64,666 20,509 1,85,175 33.6% Mindspace Pocharam 223 782 1,006 0.2% Commerzone Raidurg 25,873 - 25,873 4.7% The Square 110 Financial District 7,456 - 7,456 1.4% Hyderabad 1,98,219 21,291 2,19,510 39.8% Commerzone Porur 13,843 - 13,843 2.5% One Radial TM 15,353 95 15,448 2.8% Pallikaranai 17,109 9,820 26,929 4.9% Chennai 46,305 9,915 56,220 10.2% Facilities Management Business 12,865 1,716 14,581 2.6% Portfolio Total 5,02,544 49,352 5,51,896 100.0%
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1 132 156 34 186 159 131 143 184 39 38 60 34 60 140 16 93 157 No content left of this line No content right of this line No content left of this line No content right of this line Place content below this line m i n d s p a c e r e i t . c o m 72 224 224 224 0 111 192 201 211 242 194 224 249 184 197 238 Research Houses Covering Mindspace REIT Research House Analyst Email Id Ambit Capital Karan Khanna karan.khanna@ambit.co Avendus Spark Girish Choudhary girish.c@avendusspark.com Axis Capital Pritesh Sheth pritesh.sheth@axiscap.in Bank of America Kunal Tayal kunal.tayal@bofa.com B&K Securities Amit Srivastava amit.srivastava@360.one ICICI Securities Adhidev Chattopadhyay adhidev.chattopadhyay@icicisecurities.com IIFL Securities Mohit Agrawal mohit.agrawal@iiflcap.com Investec Capital Anuj Upadhyay Anuj.Upadhyay@investec.com Jefferies Abhinav Sinha abhinav.sinha@jefferies.com JM Financial Sumit Kumar sumit.kumar@jmfl.com Kotak Securities Murtuza Arsiwalla murtuza.arsiwalla@kotak.com Morgan Stanley Monica Dasoju Monica.sharma@morganstanley.com Nuvama Parvez Qazi Parvez.Qazi@nuvama.com Geojit Financial Deepak Balagopalan d_balagopalan@geojit.com
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16 93 157 34 60 140 131 143 184 39 38 60 34 186 159 1 132 156 No content left of this line No content right of this line Source and FootNote Guideline No content left of this line No content right of this line Place content below this line Place content below this line m i n d s p a c e r e i t . c o m 73 Key Definitions Asset SPVs/HoldCo Collectively, Avacado Properties & Trading Pvt Ltd., Gigaplex Estates Pvt. Ltd., Horizonview Properties Pvt. Ltd., Intime Properties Ltd, K Raheja IT Park Ltd.(KRIT), KRC infrastructure and Projects Pvt. Ltd.(KRC Infra), Mindspace Business Parks Pvt. Ltd.(MBPPL), Sustain Properties Pvt. Ltd., Sundew Properties Ltd., Mack Soft Tech Pvt. Ltd., Pramaan Properties Pvt. Ltd., Sundew Real Estate Pvt. Ltd., Energispace Power Pvt. Ltd., Sycamore Properties Pvt Ltd., Content Properties Pvt. Ltd., Radial IT Park Pvt. Ltd. Committed Occupancy (%) Occupied Area + Committed Area Completed Area Committed Area Completed Area which is unoccupied but for which letter of intent/ agreement to lease have been signed and includes hard option space Completed Area Leasable Area for which occupancy certificate has been received; Completed Area comprises Occupied Area, Committed Area and Vacant Area Future Development Area Leasable Area of an asset that is planned for future development, as may be permissible under the relevant rules and regulations, subject to requisite approvals as may be required, and for which internal development plans are yet to be finalized and applications for requisite approvals required under law for commencement of construction are yet to be received Gross Contracted Rentals (INR) Gross Contracted Rentals is the sum of Base Rentals and fit-out rent invoiced from Occupied Area that is expected to be received from the tenants pursuant to the agreements entered into with them In-place Rent (psf per month) Base Rent (Base Rentals for the specified period) for a specified month Occupied Area*monthly factor Market Rent (psf per month) Manager’s estimate of Base Rent that can be expected from leasing of the assets to potential tenants Market Value Market value (adjusted for non-controlling interest) as determined by Valuer as of 30 September 2026 Msf Million square feet Net Operating Income (NOI) Net Operating Income calculated as Revenue from operations less: direct operating expenses (which includes Maintenance services expense, property tax, insurance expense, cost of material sold, cost of power purchased, and maintenance expenses related to power distribution) adjusted for regulatory income/expense and rent sharing income/expense. NPA Non - Processing Area in special economic zone Occupied Area Completed Area for which lease agreements / leave and license agreements have been signed with tenants Pre-Leased Area Under Construction Area for which letter of intent / agreement to lease/ lease deed/ leave and license agreement has been entered into with prospective tenants Portfolio Assets which will be directly or indirectly owned by Mindspace REIT in terms of the REIT Regulations Re-leasing spread Refers to the change in Base Rent between new and expiring leases, expressed as a percentage Total Leasable Area Total Leasable Area is the sum of Completed Area, Under Construction Area and Future Development Area Under Construction Area Leasable Area where construction is ongoing and / or the occupancy certificate is yet to be obtained Vacant Area Completed Area which is unoccupied and for which no letter of intent / lease agreement / leave and license agreement has been signed WALE Weighted Average Lease Expiry based on area. Calculated assuming tenants exercise all their renewal options post expiry of their initial commitment period
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Thank You 2-Nov-26