IndInfravit completes acquisition of 4 Brookfield.jpg

IndInfravit completes acquisition of 4 Brookfield road projects for USD 1 bn

Indinfravit closes acquisition of Rs 8,270 cr.jpg

Indinfravit closes acquisition of Rs 8,270 cr roads from Brookfield

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Improving Rutting with Sripath’s PGXpand® PMB-Mixes

IndInfravit buys five road assets for $1.2 billion.jpg

IndInfravit buys five road assets for $1.2 billion

Mumbai, June 16, 2023: IndInfravit Trust (“IndInfravit’) announced it has completed the acquisition of 4 (four) operational road projects yesterday from funds managed by Brookfield Asset Management Inc. (“Brookfield”) in an all - cash transaction valued at approximately USD 1 Billion (INR 82.7 Billion).IndInfravit Trust had earlier executed definitive agreements on June 10, 2022 with BIF India Holdings Pte Ltd. and Kinetic Holdings 1 Pte Ltd - both companies owned by funds managed by Brookfield Asset Management, to purchase the equity shareholding of five operational road projects. Pursuant to this agreement, IndInfravit today have completed the acquisition of Simhapuri Expressway Limited (“SEL”), Rayalseema Expressway Private Limited (“REPL”), Mumbai - Nashik Expressway Private Limited (“MNEPL”) and Kosi Bridge Infrastructure Company Private Limited (“KBICL”); collectively referred to as the “Acquired Portfolio”.The acquisition of the fifth road project, namely Gorakhpur Infrastructure Company Private Limited (“GICL”), is pending the receipt of requisite regulatory approvals and fulfilment of certain other conditions set out under the definitive documents.The funding for the acquisition was through rupee term loan, issue of nonconvertible debentures and preferential issue of units to the unitholders namely, Canada Pension Plan Investment Board (CPP Investments) and OMERS Infrastructure.The Acquired Portfolio comprises of 3 (three) toll road assets and 1 (one) annuity road asset located in the Indian states of Andhra Pradesh, Maharashtra and Bihar, with approx. 2300 lane kms.“This platform level acquisition is one of the largest in the Indian roads sector in recent times. It is in line with IndInfravit’s growth strategy and a testament to the continuing investor interest in the Indian infrastructure sector. Post this our platform comprises projects with 7300 lane kms across 8 Indian states and strengthens our position as one of the leading Infrastructure Investment Trusts (InvITs) in India. With the strong backing of our investors - Canada Pension Plan Investment Board (CPP Investments), Ontario Municipal Employees Retirement System (OMERS Infrastructure) and Allianz Capital Partners who are significant unitholders in the Trust, we are well poised to participate in Indian infrastructure monetisation plans.” said Pawan Kant, Chief Executive Officer, LTIDPL IndvIT Services Ltd (Investment Manager to IndInfravit Trust)Ambit acted as the exclusive financial adviser to IndInfravit. Cyril Amarchand Mangaldas acted as legal adviser to IndInfravit.ABOUT INDINFRAVITIndInfravit Trust is among India’s first Infrastructure Investment Trusts (InvIT) to be listed on private placement basis on NSE and BSE in May 2018. It is one of the largest Indian InvITs in the roads sector with a network of approx. 7300 lane kms and operates and maintains 17 Build-Operate-Transfer (BOT) / Annuity Road Assets across 8 Indian states.The Trust was setup by L&amp;T Infrastructure Development Projects Limited as the sponsor and is backed by global investors – Canada Pension Plan Investment Board (CPP Investments), Ontario Municipal Employees Retirement System (OMERS Infrastructure) and Allianz Group as significant unitholders in the Trust.IndInfravit’s projects have been consistently winning awards from National Highways Authority of India (NHAI) over the past 3 years under various award categories pertaining to Operations &amp; Maintenance, Safety and Project Management.The organisation was recognized by Economic Times in 2022 as a sustainable organization for adopting valuable sustainable initiatives. Recently it was recognized at “Innovative CIO 100 Awards 2023” for ground-breaking projects in enterprise IT. Our companies operations are certified under 5 ISO certification categories (ISO 9001:2015 Quality Management System; ISO 14001:2015 Environmental Management System; ISO 39001:2012 Road Traffic Safety Management System; ISO 45001:2018 Occupational Health and Safety Management System and ISO 31000:2018 Risk Management). To learn more please visit www.indinfravit.com.Media contact:R. Rajmohan Corporate Communications LTIDPL IndvIT Services Limited (Investment Manager to IndInfravit Trust) Email: <a href="mailto:raj.mohan@indinfravit.com">raj.mohan@indinfravit.com</a> Mobile : +91 9840544658

Press-Announcement-June-16-2023.pdf

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IndInfravit Trust acquires road projects valued at c. USD 1 billion, from Brookfield Asset Management

Indinfravit Trust (“IndInfravit’) and BIF India Holdings Pte Ltd. and Kinetic Holdings 1 Pte Ltd., companies owned by funds managed by Brookfield Asset Management Inc. (“Brookfield”), today executed definitive agreements whereby Indinfravit has agreed to purchase the entire equity shareholding! of five operational road projects (“Roads Portfolio”) from Brookfield. The transaction values the Roads Portfolio at an enterprise value of approximately USD 1.2 billion.The transaction is subject to certain regulatory and other customary conditions, including approval from relevant regulatory authorities, lenders and unitholders of IndInfravit.The Roads Portfolio comprises three toll roads and two annuity roads, with approx. 2,400 lane kms in Andhra Pradesh, Bihar, Maharashtra and Uttar Pradesh. The Roads Portfolio has been operational, on an average, for approximately 9 years, and have an average residual concession period of 20 years.Indinfravit currently holds a portfolio of thirteen operational road concessions with approx. 5,000 lane kms spread across five states. This acquisition will expand the portfolio into three additional states, Andhra Pradesh, Bihar and Uttar Pradesh. IndInfravit’s unitholders include Allianz insurance companies represented by Allianz Capital Partners, Canada Pension Plan Investment Board (“CPP Investments”) and OMERS Infrastructure.“This transaction is one of the largest acquisitions in the highways sector in recent times. It is a testamento the confidence of long-term patient capital in the India growth story, duly represented by the Highways sector. All the five operating assets are part of the National Highways program and in states contributing in total c.30% of India’s GDP. With strong backing of its major unitholders, IndInfravit is well positioned for India’s Infrastructure Monetization plans. Stepping into its fifth year of operations, our InvIT presents itself as an established and reliable platform for developers and sponsors to divest their assets, thus creating value and generating significant economic benefit for both parties,” said Pawan Kant, Chief Executive Officer, LTIDPL IndvIT Services Limited (Investment Manager to the IndInfravit Trust).“We remain a committed supporter of IndInfravit — a portfolio that encompasses significant and critical roads assets,” said Scott Lawrence, Managing Director and Head of Infrastructure, CPP Investments. “This acquisition provides growth and geographic diversity to the InvIT and will ensure the continued delivery of high-quality infrastructure to different regions across India. Increasing our interests in Indian infrastructure is part of our ongoing commitment to deliver solid long-term risk-adjusted returns to CPP contributors and beneficiaries.”Delphine Voeltzel, Managing Director, Asia for OMERS Infrastructure, said of the development: “We are proud to support this further growth of the IndInfravit platform and look forward to working with our fellow unitholders, management and local stakeholders to create additional value for the community and our customers. The acquisition further strengthens IndInfravit’s position as a leading roads platform in India and significantly expands its roads portfolio as well" Except for less than 0.01% in one of the assets as its geographic footprint. It represents one more example of how OMERS Infrastructure continues building a diverse portfolio of high-quality assets in select locations around the globe, led by strong management teams, and in cooperation with like-minded, long-term partners.”“We are glad to support the further growth of the IndInfravit platform and its continued path of excellence. Our investment in IndInfravit gives us an opportunity to be part of the vibrant and highly crucial infrastructure sector in India. We look forward to working jointly with our partners on the further development of the Indinfravit platform creating a high quality, well-diversified asset portfolio” said Andrew Cox, Co-Head - Infrastructure for Allianz Capital Partners.Ambit acted as the exclusive financial adviser to IndInfravit. Cyril Amarchand Mangaldas acted as legal adviser to IndInfravit.CONTACT INFORMATION:IndInfravit TrustRekha NB Company Secretary LTIDPL IndvIT Services Limited (Investment Manager of IndInfravit Trust) Email: <a href="mailto:rekhanb@indinfravit.com">rekhanb@indinfravit.com</a> Tel.: +91 44 4398 6081CPP InvestmentsConnie Ling Managing Director, Global Corporate Communications Email: <a href="mailto:cling@cppib.com">cling@cppib.com</a> Tel.: +852 3959 3476OMERS InfrastructureJames Thompson Director of Communications Email: <a href="mailto:JaThompson@omers.com">JaThompson@omers.com</a> Tel.: +44(0)7443 264 154Allianz Capital PartnersPia Gréger Lead Communications Email: <a href="mailto:pia.groeger@allianzcapitalpartners.com">pia.groeger@allianzcapitalpartners.com</a> Tel.: +49 89 1220-8267

Press-release-June-10-2022.pdf

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IndInfravit and Brookfield enter into definitive agreements for the acquisition of five operational road projects from Brookfield

In terms of the definitive documentation entered into by IndInfravit Trust (“IndInfravit”) and Sadbhav Infrastructure Project Limited (“SIPL”) for the proposed acquisition of 9 (nine) road infrastructure projects on July 1, 2019, IndInfravit has, pursuant to its acquisition of Mysore-Bellary Highway Private Limited (“MBHPL”) today, completed the acquisition of 100% of the equity shareholding and economic interest held by SIPL in 8 (eight) road infrastructure projects (“Acquired Portfolio”). The Acquired Portfolio currently comprises the following 8 (eight) assets: (i) Bhilwara Rajsamand Tollway Private Limited, (ii) Dhule Palesner Tollway Limited, (iii) Hyderabad Yadgiri Tollway Private Limited, (iv) Nagpur Seoni Expressway Limited, (v) Shreenathji Udaipur Tollway Private Limited, (vi) Bijapur-Hungund Tollway Private Limited, (vii) Aurangabad Jalna Tollway Limited and (viii) MBHPL. The enterprise value of 100% of the Acquired Portfolio is approximately INR 63bn.The acquisition of the remaining road infrastructure project, namely Ahmedabad Ring Road Infrastructure Limited (“ARRIL”), for which IndInfravit has entered into definitive documentation with SIPL, is pending the receipt of requisite regulatory approvals and fulfillment of certain other conditions set out under the definitive documents.In connection with the IndInfravit’s acquisition of 100% equity shareholding and economic interest in the Acquired Portfolio, SIPL has been paid consideration by way of a preferential issue of units of IndInfravit (amounting to 10% on post-issue basis) as well as cash. IndInfravit has raised the cash by way of a preferential issue of units to the leading unitholders of IndInfravit namely, L&amp;T Infrastructure Development Projects Limited (“L&amp;T IDPL”), Allianz, Canada Pension Plan Investment Board (“CPP Investments”), and OMERS Infrastructure (the infrastructure arm of OMERS Administration Corporation).IndInfravit has also undertaken an issue of non-convertible debentures with a view to refinance a substantial portion of the financial indebtedness of the Acquired Portfolio.This transaction is in line with IndInfravit’s strategy to acquire additional road projects in India, and would significantly expand IndInfravit’s current road portfolio of five operational toll road concessions.The Acquired Portfolio comprises of six toll roads and two annuity roads, with total c. 2,300 lane kms in Karnataka, Maharashtra, Rajasthan and Telangana, some of India’s most economically vibrant states. The roads forming part of the Acquired Portfolio have been operational, on an average, for over 6 years, and are used by diverse groups of road users and commercial traffic. The states in which these roads are present contribute c.32% to the GDP and c.23% to the population of India.SIPL is a leading Indian road developer, which is promoted by Sadbhav Engineering Limited (“SEL”). Both SIPL and SEL are entities listed on the stock exchanges in India.Mr. J Subramanian, CEO, LTIDPL IndvIT Services Limited (Investment Manager of IndInfravit), views this acquisition as part of a new era in infrastructure development. InvIT, as a structure has facilitated a new investor class with a keen interest to allocate large capital towards infrastructure landscape. InvITs, backed by marquee overseas investors, create the necessary ecosystem to support the government’s ambitious plan to develop high quality infrastructure in the country.Ambit Private Limited acted as the exclusive financial advisor to IndInfravit on this transaction.CONTACT INFORMATION:IndInfravit TrustMathew George Chief Financial Officer, LTIDPL IndvIT Services Limited (Investment Manager of IndInfravit Trust) Tel: +91 (0) 44 43986061 e-mail: mg@lntidpl.com

Press-Announcement-19-March-2020.pdf

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IndInfravit Trust completes the acquisition of 100% stake in eight operational road projects of Sadbhav Infrastructure Project Limited

IndInfravit Trust (“IndInfravit”) and Sadbhav Infrastructure Project Limited (“SIPL”) today executed definitive agreements whereby IndInfravit has agreed to purchase the entire equity shareholding of SIPL in nine of SIPL’s operational road projects1 (“Roads Portfolio”) from SIPL. The transaction values 100% of the Roads Portfolio at an enterprise value of approximately INR 66,100 million.Upon completion of the transaction, pursuant to the definitive agreements, SIPL will receive the consideration from IndInfravit in cash as well as allotment of units of IndInfravit; post completion, SIPL will hold not exceeding 10% unitholding in IndInfravit.The transaction is subject to certain regulatory and other customary conditions precedent common in transactions of this nature, including the approval of the relevant regulatory authorities and lenders as well as unitholders of IndInfravit and shareholders of SIPL.The Roads Portfolio comprises seven toll roads and two annuity roads, with total 2,619 lane kms in Gujarat, Karnataka, Maharashtra, Rajasthan and Telangana, some of India’s most economically vibrant states. The roads forming part of the Roads Portfolio have been operational, on an average, for approximately six years, and are used by diverse groups of road users and commercial traffic. The states in which these roads are present contribute c.39% to the GDP and c.28% to the population of India.IndInfravit, sponsored by L&amp;T Infrastructure Development Projects Limited (“L&amp;T IDPL”), currently holds a portfolio of five operational toll road concessions. In addition to L&amp;T IDPL, the other unitholders include Allianz insurance companies represented by Allianz Capital Partners, Canada Pension Plan Investment Board (“CPPIB”) and OMERS Infrastructure.This transaction is in line with IndInfravit’s strategy to acquire additional road projects in India, and significantly expands IndInfravit’s current portfolio.SIPL is a leading Indian road developer, majority of which is owned by Sadbhav Engineering Limited (“SEL”). Both SIPL and SEL are entities listed on the stock exchanges in India. Post the completion of this transaction, SIPL will continue to own three operational road project companies and 12 under-construction road projects under the Hybrid Annuity Model. SIPL will continue to focus on its core expertise of development of new roads and utilise the sale proceeds from this transaction to recycle capital in to bidding for new road projects, inject equity in current underconstruction projects and prepay debt.Stake in one project is currently held by SEL, parent of SIPLSubject to certain adjustments in accordance with the terms and conditions of the relevant definitive agreements and compliance with requirements of applicable law“The proposed acquisition of Sadbhav’s completed and revenue generating road assets by the IndInfravit Trust is a landmark deal, which we anticipate will generate significant economic benefits to both parties. Today’s announcement serves as a clear expression of our intentions to actively pursue growth and expand the IndInfravit Trust’s revenue base. Further, the InvIT platform clearly underlines how India remains an attractive destination for serious and committed long-term investors, and we look forward to more such transactions in the near future,” said J. Subramanian, Chief Executive, LTIDPL IndvIT Services Limited (Investment Manager- IndInfravit).“As a long-term investor, we are very glad that our customers can benefit from the growth potential of the Indian economy while contributing to its core infrastructure. We look forward to working jointly with our partners on these assets which are crucial for the economic and social development of the region and make a strategic fit to the diversification of our portfolio,” said Christian Fingerle, Chief Investment Officer at Allianz Capital Partners.Scott Lawrence, Managing Director and Head of Infrastructure at CPPIB, said, “Our investment in IndInfravit Trust reflects our long-term confidence in the Indian infrastructure market and our belief in the ability of these toll roads to deliver strong risk-adjusted returns. The IndInfravit Trust, established by our investment partner L&amp;TIDPL, was the first private InvIT of its kind in India, and we have been involved since its inception. We now look forward to the growth that is expected through our additional investment in these operating road assets.”CPPIB expects its financial commitment in connection with the proposed transaction to be up to C$220 million.“We are proud to support this further growth of the IndInfravit platform, and look forward to working with our fellow unitholders and Sadbhav to create additional value together. Our investment in IndInfravit represents one more example of how OMERS Infrastructure continues building a diverse portfolio of high-quality global assets to pay pensions to our members,” said Ralph Berg, Executive Vice President and Global Head of OMERS Infrastructure.Shashin Patel, Chairman, at Sadbhav said, “The transaction and partnership with IndInfravit marks a significant milestone for Sadbhav Group. This is a very exciting phase in our journey and we are very committed to delivering growth and value to our shareholders, both at SIPL and SEL. We look forward to our partnership with IndInfravit and its marquee set of unitholders. We are committed to continue providing quality maintenance services and project management services to the portfolio.”Ambit Private Limited acted as the exclusive financial adviser to IndInfravit.Morgan Stanley acted as the exclusive financial adviser to SIPL.CONTACT INFORMATION:IndInfravit TrustMathew George Chief Financial Officer, LTIDPL IndvIT Services Limited (Investment Manager of IndInfravit Trust) +91 (0) 44 2252 8749 contact-us@indinfravit.comSadbhav Infrastructure Project LimitedVarun Mehta Chief Financial Officer +91 22 2409 5887 Varun.Mehta@sadbhav.co.inAllianz Capital PartnersPia Gröger +49 89 1220 8267 pia.groeger@allianzcapitalpartners.comCPPIBDarryl Konynenbelt Director, Global Media Relations +1 416-972-8389 dkonynenbelt@cppib.comSteve McCoolConsultant, Global Corporate Communications +44 20 3947 3002 smccool@cppib.comOMERSNeil Hrab Manager, External Communications and Media Relations +1 416 369 2418 nhrab@omers.com

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IndInfravit Trust and Sadbhav Infrastructure Project Limited (SIPL) enter into definitive agreements for the acquisition of the entire equity holding of SIPL in nine of its operational road projects by IndInfravit

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IndInfravit and Brookfield enter into definitive agreements for the acquisition of five operational road projects from Brookfield

IndInfravit Trust completes the acquisition of 100% stake in eight operational road projects of Sadbhav Infrastructure Project Limited

IndInfravit Trust and Sadbhav Infrastructure Project Limited (SIPL) enter into definitive agreements for the acquisition of the entire equity holding of SIPL in nine of its operational road projects by IndInfravit

IndInfravit Trust acquires road projects valued at c. USD 1 billion, from Brookfield Asset Management

IndInfravit and Brookfield enter into definitive agreements for the acquisition of five operational road projects from Brookfield

IndInfravit Trust completes the acquisition of 100% stake in eight operational road projects of Sadbhav Infrastructure Project Limited

IndInfravit Trust and Sadbhav Infrastructure Project Limited (SIPL) enter into definitive agreements for the acquisition of the entire equity holding of SIPL in nine of its operational road projects by IndInfravit

IndInfravit Trust acquires road projects valued at c. USD 1 billion, from Brookfield Asset Management

IndInfravit and Brookfield enter into definitive agreements for the acquisition of five operational road projects from Brookfield

IndInfravit Trust completes the acquisition of 100% stake in eight operational road projects of Sadbhav Infrastructure Project Limited

IndInfravit Trust and Sadbhav Infrastructure Project Limited (SIPL) enter into definitive agreements for the acquisition of the entire equity holding of SIPL in nine of its operational road projects by IndInfravit

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Indinfravit closes acquisition of Rs 8,270 cr roads from Brookfield

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IndInfravit buys five road assets for $1.2 billion

IndInfravit completes acquisition of 4 Brookfield road projects for USD 1 bn

Indinfravit closes acquisition of Rs 8,270 cr roads from Brookfield

Improving Rutting with Sripath’s PGXpand® PMB-Mixes

IndInfravit buys five road assets for $1.2 billion

IndInfravit completes acquisition of 4 Brookfield road projects for USD 1 bn

Indinfravit closes acquisition of Rs 8,270 cr roads from Brookfield

Improving Rutting with Sripath’s PGXpand® PMB-Mixes

IndInfravit buys five road assets for $1.2 billion

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