Email: [email protected]. The acquisition is subject to certain condition precedents and requires Unitholder, regulatory and other approvals. Embassy Office Parks REIT – Embassy Office Parks REIT is the owner of a high quality office portfolio in India that comprises seven best-in-class office parks and four prime city-center office buildings totaling 32.7 msf as of 31 December 2018. We will keep records of our performance, presentations, and past earnings releases on our website so you may access them at any time. Before you enter the investor relations portion of our website, we encourage you to read our investor relations objectives and code of conduct below. We are delighted to purchase an asset of the quality and scale of ETV at a 4.6% discount to the average of the two independent valuations. Embassy REIT is sponsored by BRE Mauritius Investments (part of the Blackstone group) and Embassy Property Development Pvt Ltd (part of the Embassy group). Ltd (part of the Embassy group). The country’s first Real Estate Investment Trust (REIT) is planning to raise the funds through an institutional placement of units in one or more tranches. Home to over 45,000 employees of 40+ corporate occupiers, ETV is an infrastructure-like asset that serves as a complete business ecosystem for its occupiers and their employees. We believe that, by running our business well and by communicating with investors openly, we can maximize the value of our units by increasing the distributions, the Net Asset Value (NAV) and consequently provide you, the unitholder, with the total returns that you should expect from a best-in-class REIT. Head - Capital Markets & Investor Relations Embassy REIT is exercising its right under the ROFO agreement to acquire the asset. Fax: +91 80 4903 0046, Embassy REIT Announces ₹98 billion ($1.3 billion) Acquisition of Embassy TechVillage, Aggregate enterprise valuation of ₹97,824 million is at a 4.6% discount to average of two independent valuation reports, Enhances Embassy REIT’s commercial office portfolio scale by 28% to 42.4 msf, facilitates entry into Bengaluru’s best-performing sub-market and further diversifies Embassy REIT’s occupier base, Stable cash flows with strong embedded growth through 33.7% MTM upside on 97.3% leased area and 3.1 msf of on-campus development, of which 36% is pre-leased to JP Morgan, Attractive acquisition with proforma accretion of 28% to Net Operating Income (, Strong framework in place regulating related party transactions including approval by independent directors of the Board, majority of unrelated unitholders’ approval required for ETV acquisition, and no acquisition linked fees to the REIT Manager, Fairness opinion issued by HSBC Securities and Capital Markets (India) Private Limited to the independent directors of the manager to Embassy REIT opining that, subject to the assumptions and limitations of the scope, the proposed value of the acquisition is fair, from a financial point of view, to the public Unitholders of Embassy REIT. The portfolio also comprises strategic amenities, including two operational business hotels, two under‑construction hotels, and a 100MW solar park supplying renewable energy to park occupiers. Embassy Office Parks REIT launched a qualified institutional payment (QIP) issue on Tuesday in order to raise funds. The Blackstone-Embassy REIT plans to raise ₹ 4,750 crore in the IPO by issuing units in a price band of ₹ 299-300 apiece. This press release is prepared for general information purposes only. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements. Embassy Office Parks REIT ('Embassy REIT'), India's first listed real estate investment trust, announced today that it has successfully priced and allotted by way of a private placement Rs.30 billion (Indian Rupees Thirty billion only) of rupee-denominated, listed, rated, secured, redeemable and non-convertible debentures. Please read the corporate governance section of our website and understand how you, the unitholder, can hold us, the manager, accountable through your rights and by understanding how the Board of Directors, the management and The Trustee are required to act on your behalf. Extraordinary Meeting of Unitholders I. We, at Embassy REIT, are the first publicly-listed Real Estate Investment Trust in India, the world’s fastest growing economy; we know a lot of people are watching our performance so we plan to engage with investors the right way. Bengaluru 560 071 Located in Bengaluru’s best-performing commercial office sub-market, ETV spans over 84 acres and derives 88% of its rents from multinational occupiers, is 97.3% occupied, and has a 9.7 year Weighted Average Lease Expiry (“WALE”) with a 33.7% mark-to-market (“MTM”) potential. For convenience purposes only, the exchange rate used in this press release is $1 = ₹74. In the past 12 months, Embassy Office Parks REIT has declared an equity dividend amounting to Rs 16.32 per share. Embassy Group will continue to develop top quality office assets across the country, thereby providing the REIT with a potential pipeline of assets that will help it grow inorganically over the coming years.”. Email: [email protected]. Embassy Office Parks REIT Portfolio comprises 7 best-in-class office parks and 4 prime city-center office buildings totaling 32.7 msf as of December 31, 2018, with strategic amenities, including 2 completed and 2 under-construction hotels totaling 1,096 keys, food courts, employee transportation and childcare facilities. Embassy Office Parks REIT Extraordinary Meeting of Unitholders December 10, 2020. Bengaluru 560 071 Off Intermediate Ring Road It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks REIT is the owner of a high quality office portfolio in India that serves as essential corporate infrastructure to multinational tenants and has significant embedded growth prospects. The REIT also plans to refinance existing ETV debt facilities of up to c.₹36 billion ($492 million) through a combination of equity and issuance of new coupon bearing debt. Embassy Office Parks REIT 2nd Annual Unitholders’ Meeting August 27, 2020. Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). We will, through our website and selectively through other media channels, disseminate any and all information that is relevant to our financial and operating performance. Embassy REIT is India's first publicly-listed real estate investment trust sponsored by Blackstone and Embassy group. Embassy REIT is India''s first publicly-listed REIT (Real Estate Investment Trust) sponsored by Blackstone and Embassy group. Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest in Asia by area, is pleased to announce that the REIT will be included in the S&P Global Property Index and S&P Global REIT Index effective November 2, 2020. It will be first such QIP by a real estate investment trust in the country. Embassy Golflinks Business Park Listed in April 2019, Embassy REIT owns and operates a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). Embassy REIT’s portfolio comprises 26.2 msf completed operating area, has an occupancy of 91.7% as of September 30, 2020, and is home to many of the world’s leading companies as occupiers. Embassy Office Parks REIT is looking to raise between $500 million to $600 million to fund the recent acquisition of additional office assets to bolster the existing portfolio, according to sources We will not condone any form of insider trading, and we will prosecute individuals and organizations to the fullest extent of the law if they trade our units unlawfully. Embassy REIT’s portfolio comprises 26.2 msf completed operating area, has an occupancy of 91.7% as of September 30, 2020, and is home to many of the world’s leading companies as occupiers. This press release also contains certain financial measures which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. Our business itself is simple: we own and operate the best portfolio of commercial assets in India with a suite of complementary hospitality and renewable energy assets that cater to our needs of our tenants in our office parks and commercial offices. We will not selectively disclose any material information to any member of the public. The proposed placement of units is expected to increase the REIT’s public float, enhance its liquidity, and serve as a catalyst for the REIT’s potential inclusion into additional benchmark global equity indices. The acquisition further deepens our presence in Bengaluru, which remains India’s strongest office market, and significantly enhances our scale and ability to deliver embedded growth. It got listed on stock exchanges last year. The inclusion of Embassy REIT follows an S&P Dow Jones Indices’ amendment to the S&P Property Indices … It has 11 commercial assets (office parks and city-centric offices), four hotels, and a solar plant. Embassy Golflinks Business Park Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Karnataka, India Royal Oaks About Embassy REIT Embassy Office Parks is India’sfirst and only listed REIT. By providing your email address below, you are providing consent to Embassy Office Park to send you the requested Investor Email Alert updates. Again, there are no exceptions. Ritwik Bhattacharjee With approximately c.7.1 msf of on-campus development in the pipeline, the total portfolio spans c.33.3 msf across seven Grade A office parks and four city-center office Morgan Stanley and Kotak Investment Banking are serving as joint financial advisors to Embassy REIT, while S&R Associates and Clifford Chance are acting as legal advisors to Embassy REIT. Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). A floor price of Rs348.38 per unit has been approved by … 2nd Annual Unitholders’ Meeting 2 I. FY2020 Highlights Embassy Manyata, Bengaluru. You can sign up for additional alert options at any time. Head of Capital Markets and Investor Relations The portfolio also comprises strategic amenities, including two operational business hotels, two under‑construction hotels, and a 100MW solar park supplying renewable energy to park occupiers. It has 11 commercial assets (office parks and city-centric offices), 4 hotels (of which two are under construction) and a solar plant. Email: [email protected] Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). Tel: +91 80 3322 0000 According to sources, the REIT could raise anywhere between $500 million and $600 million. The Company focuses primarily on real estate projects in the commercial segment of the real estate industry. Embassy TechVillage is a large-scale, award-winning and best-in-class integrated office park situated on the Outer Ring Road (“ORR”) in Bengaluru. The record date for the distribution is November 10, 2020 and will be paid on or before November 17, 2020. Listed in April 2019, Embassy REIT owns and operates a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). Phone: +91 80 3322 2222, Head - Capital Markets & Investor Relations ETV is a unique large scale business park, in the leading Outer Ring Road sub-market of Bengaluru, with a diversified blue-chip and predominantly multinational occupier base, including JP Morgan, Cisco, Sony and Flipkart. Update on March 20, 2019: Dr Niranjan Hiranandani, National President, NAREDCO shared his views on the REIT subscription. Ernst and Young LLP conducted financial and tax diligence and HSBC Securities and Capital Markets (India) provided a fairness opinion to the independent directors of the manager to Embassy REIT for the proposed acquisition. At the current share price of Rs 355.40, this results in a dividend yield of 4.59%. We will always comply with the letter of the law in the way we run our business and in the manner in which we communicate with our unitholders. At Embassy Office Park, we promise to treat your data with respect and will not share your information with any third party. 2nd Annual Unitholders’ Meeting 3 Strong business performance and distribution mainly driven by robust leasing, mark-to-market rental reversions and early delivery of on-campus development projects Operating … » Embassy Office Parks REIT (“Embassy REIT”) is the owner of a high quality office portfolio in India that serves as essential corporate infrastructure to multinational tenants and has significant embedded growth prospects. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of the Embassy REIT's financial position or results of operations as reported under Ind-AS. After submitting your request, you will receive an activation email to the requested email address. By providing your email address below, you are providing consent to Embassy Office Park to send you the requested Investor Email Alert updates. The acquisition will increase Embassy REIT’s commercial office portfolio by 28 per cent to 42.4 msf. Off Intermediate Ring Road It may be noted that HSBC and its affiliates have provided various services (including financing through its affiliates), to the Embassy REIT, the targets and their respective affiliates, and may continue to provide such services in the future. It got listed on stock exchanges last year. Embassy Office Parks REIT has declared 14 dividends since Aug. 20, 2019. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. At Embassy Office Park, we promise to treat your data with respect and will not share your information with any third party. You can sign up for additional alert options at any time. Over the past six years, Embassy Group has developed ETV to be one of the finest office assets in the country, and we are pleased to offer this asset to the REIT for consideration and approval by the Independent Directors of the REIT Manager and the Unitholders. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of the Embassy Office Parks REIT (“Embassy REIT”), and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. The REIT comprises c.26.2 msf of completed and operational commercial properties across India. Further the actual legal entity names of the occupiers may differ from the names referred in the press release above. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. About Embassy REIT. The acquisition comprises c.6.1 million square feet (“msf”) of completed area, c.3.1 msf of under-construction area, of which 36% is pre-leased to JP Morgan, and two proposed 518-keys Hilton hotels within the overall ETV campus. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of₹4,244 million or ₹5.50 per unit. Embassy REIT is sponsored by BRE Mauritius Investments (part of the Blackstone group) and Embassy Property Development Pvt. The information contained herein is based on management information and estimates. After submitting your request, you will receive an activation email to the requested email address. Embassy REIT Overview Embassy Manyata, Bengaluru 2. But the average demand over previous years is still significantly lower. We aim to provide all our stakeholders with timely, accurate and honest information that provides the most transparent updates on how we run our business and how we finance our business. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Please click "I Agree" at the bottom. Given these risks, uncertainties and other factors, including the impact of COVID-19 on us, our occupiers and the Indian and global economies, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. Embassy Office Parks REIT has received shareholders’ approvals to acquire Embassy TechVillage and raise up to Rs 8,000 crore to finance this acquisition. The Embassy TechVillage ROFO reaffirms the commitment we made at the time of the REIT’s listing to provide Embassy REIT with a pipeline of opportunities for completed and rent-yielding assets. 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