Shrem InvIT 's Investment Manager, Shrem Infra Investment Manager Private Limited, has filed disclosures with the National Stock Exchange of India Limited pertaining to the creation of pledge (encumbrance) on units of Shrem InvIT. The disclosures were submitted pursuant to Chapter 10 of the SEBI Master Circular vide no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025, and cover encumbrances created by both the Sponsor—Shrem Infra Invest Private Limited—and the Sponsor group entity—Shrem Investments Private Limited—with the date of creation of encumbrance being May 11, 2026.

Sponsor Pledge: Shrem Infra Invest Private Limited

Shrem Infra Invest Private Limited, the Sponsor of Shrem InvIT, has pledged 22,00,000 units of Shrem InvIT in favor of MITCON Credentia Trusteeship Services Limited. This encumbrance has been created to secure Non-Convertible Debentures (NCDs) of Rs. 120 Crore issued by the Company. The pledge will remain in force until the NCDs of Rs. 120 Crore remain outstanding. The following table summarizes the key details of this encumbrance:

The funds raised through the issuance of the NCDs are intended to be utilized, inter-alia, towards:

• Part financing the acquisition of units of Shrem InvIT by way of subscription of non-convertible debentures issued by entities acquired/to be acquired by Shrem InvIT
• Refinancing of the existing financial indebtedness (in part or full) of the Issuer
• Extending money to Shrem Enterprises for part financing acquisition of units of Shrem InvIT by way of subscription of non-convertible debentures issued by entities acquired/to be acquired by Shrem InvIT
• General corporate purposes of the Issuer including for creation of Debt Service Reserve Amount

Sponsor Group Entity Pledge: Shrem Investments Private Limited

Shrem Investments Private Limited, the Sponsor group entity of Shrem InvIT, has pledged 60,000 units of Shrem InvIT in favor of Aditya Birla Capital Limited. This encumbrance secures a Loan Facility of Rs. 75 Crore availed by the Company from Aditya Birla Capital Limited. The pledge will remain in force until the Loan Facility of Rs. 75 Crore remains outstanding. The table below provides the specific details of this encumbrance:

The funds raised through this loan facility are intended to be utilized, inter-alia, towards Provision of Inter-Corporate Deposits (ICDs) and Refinancing of Loans.

Regulatory Compliance and Filing Details

Both disclosures were signed by Nitan Chhatwal, Director (DIN: 00115575), on May 12, 2026, on behalf of the respective entities. The filing to the National Stock Exchange of India Limited was made by Mr. Kunal Trivedi, Company Secretary and Compliance Officer (Membership No.: A21915) of Shrem Infra Investment Manager Private Limited, on May 13, 2026. Axis Trustee Services Limited was also marked as a recipient of the communication.

The Board of Shrem Infra Investment Manager Private Limited , acting in its capacity as Investment Manager to Shrem InvIT, met on May 09, 2026, and approved a series of significant resolutions, including the audited financial results for the quarter and financial year ended March 31, 2026, and the declaration of the 20th distribution to unitholders. Separately, pursuant to Regulation 21(4) and 21(6) of SEBI (InvIT) Regulations, 2014, the Investment Manager submitted the Valuation Report for the financial year ended March 31, 2026, as prepared by Mr. Jayesh Shah, Independent Registered Valuer (IBBI Registration No. IBBI/RV/07/2020/13066), to the National Stock Exchange of India Limited.

Distribution Declared for FY26

The Board declared the 20th distribution at an aggregate of ₹0.9294 per unit. The distribution is structured as follows:

The record date for the distribution has been fixed at May 13, 2026, and payment will be made to unitholders within five working days from the record date, subject to applicable taxes.

Net Asset Value as on March 31, 2026

Pursuant to Regulation 10(21) of SEBI (InvIT) Regulations, 2014, the Net Asset Value (NAV) of Shrem InvIT as on March 31, 2026, based on the Valuation Report issued by the Registered Valuer, is presented below:

Valuation Methodology and Key Parameters

The fair enterprise valuation of the special purpose vehicles (SPVs) was carried out using the Discounted Cash Flow (DCF) methodology, specifically the Free Cash Flow to Firm (FCFF) approach, as of March 31, 2026. The valuation was conducted by Registered Valuer Mr. Jayeshkumar Shah (IBBI Registration No. IBBI/RV/07/2020/13066). The Income Approach under the DCF method was selected as the most appropriate methodology, given that all SPVs generate income based on structured concession agreements and the Investment Manager provided financial projections for the remaining concession periods. Market Approach and Cost Approach methods were not applied due to the unlisted nature of the SPVs and the absence of directly comparable listed companies or transactions.

Key parameters used in the valuation are summarised below:

Portfolio Overview and Unitholding Pattern

Shrem InvIT comprises 37 operational road projects with a total length of 11,741 lane kilometers, spread across nine states in India, including Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Jharkhand, Chhattisgarh, Odisha, Karnataka, and Uttar Pradesh. The projects are held through SPVs operating under concessions granted by NHAI, MoRTH, and respective state road development corporations. The portfolio spans three asset categories: Hybrid Annuity Model (HAM) assets (19 SPVs), State Annuity and Toll Model assets (10 SPVs), State Annuity Model assets (6 SPVs), and Toll Model assets (2 SPVs).

As of March 31, 2026, the unitholding pattern of the Trust was as follows:

Key Developments During the Year

The valuation report highlighted the following key developments during the year:

• The final annuity payment for three state annuity plus toll assets was completed during the year. The concession period has not yet expired, and the SPVs will continue collecting toll, transitioning from an annuity revenue phase to a post-revenue phase.
• Changes introduced under the Union Budget 2026 relating to Minimum Alternate Tax (MAT) have been duly considered for SPVs continuing under the old tax regime.
• For JDTL, the Investment Manager revised traffic projections based on actual traffic performance up to March 2026, adopting a conservative approach. This resulted in lower projected revenues and a decline in valuation, primarily due to lower-than-expected Average Annual Daily Traffic (AADT) arising from diversion of traffic to a newly operational nearby expressway.

Key Resolutions Approved by the Board

The Board meeting, which commenced at 02:30 p.m. and concluded at 04:30 p.m., considered and approved the following matters:

• Audited Financial Statements: Standalone and consolidated financial statements of Shrem InvIT for the quarter and financial year ended March 31, 2026, along with the Statutory Auditors' Report.
• Deviation/Variation Disclosure: Statement on utilisation of funds raised for the quarter ended March 31, 2026 (Nil report).
• Investment Manager Financials: Audited financial statements of Shrem Infra Investment Manager Private Limited for the financial year ended March 31, 2026. The Board noted no material erosion in the net worth of the Investment Manager compared to the financial statements of March 31, 2025.
• ROFO and Future Assets Agreement: The Right of First Offer and Future Assets Agreement, subject to unitholder approval.
• Asset Acquisition: Acquisition of one HAM asset (Road Infrastructure Asset) from BSCPL Infrastructure Limited, with execution of definitive agreements. Completion is subject to necessary regulatory and statutory approvals.
• Variation in Use of Proceeds: Variation in terms of use of proceeds raised from the preferential issue, subject to unitholder approval.
• Valuation Report: The Valuation Report of Shrem InvIT and its project SPVs for the year ended March 31, 2026.
• Postal Ballot Notice: Draft postal ballot notice seeking unitholder approvals.
• Appointments: Appointment of Mr. Jayesh Shah (IBBI Registration No. IBBI/RV/07/2020/13066) as Valuer for FY 2026-27 (subject to unitholder approval), M/s. T R Chadha & Co. LLP as Internal Auditor for FY 2026-27, and M/s. KDA & Associates, Practicing Company Secretaries (COP No: 7512) as Secretarial Auditor for FY 2026-27.

The trading window for dealing in units of the InvIT remains closed as per the intimation dated March 31, 2026, and will remain closed until 48 hours after the dissemination of the financial statements for the quarter and year ended March 31, 2026, to the stock exchange.

Source: None/Company/INE0GTI23014/16424123372849aa.pdf