Adani Ports & SEZ has entered into a strategic partnership with Port of Marseille Fos to strengthen India-Europe trade connectivity through the India-Middle East-Europe Economic Corridor (IMEC). The Memorandum of Understanding signed on February 18, 2026, marks a significant milestone in creating a comprehensive multimodal trade pathway between India and the European Union.

Strategic IMEC Partnership Details

The partnership proposes the creation of an IMEC Ports Club to strengthen coordination among key ports along the India-Middle East-Europe Economic Corridor route. This collaboration completes the IMEC pathway for India-EU trade, which has been enhanced by the Free Trade Agreement between India and the EU.

The MoU was signed during the visit of French President Emmanuel Macron, underscoring the expanding India-France strategic partnership. The India-Middle East-Europe Economic Corridor, launched at the 2023 G20 Summit in New Delhi, represents a comprehensive multimodal connectivity initiative linking India and Europe through integrated maritime routes, rail networks, digital systems and clean-energy pathways.

Key Focus Areas of Collaboration

The partnership encompasses four primary areas of cooperation designed to enhance trade facilitation and port innovation:

• IMEC Route Promotion: Joint campaigns, participation in international trade fairs and roadshows, and targeted B2B engagements to establish the corridor as a sustainable, secure, and competitive alternative for Eurasian trade flows
• Technical Exchange: Capacity building in port digitalization, smart-port platforms, data interoperability, cybersecurity, alternative fuels, shore power supply and low-carbon bunkering
• Green Maritime Corridor: Development of the Mundra-Marseille Fos Green Maritime Corridor focusing on sustainable shipping practices
• IMEC Ports Club: Co-founding an institutional framework for dialogue among corridor ports and coordinating policy discussions and investment frameworks

Leadership Perspectives

Ashwani Gupta, Whole-time Director & CEO of APSEZ, emphasized India's leadership role in advancing the corridor. He noted that with the conclusion of the India-EU Free Trade Agreement, trade between participating countries is expected to grow significantly. The partnership connects APSEZ's western coast ports at Hazira and Mundra with the European gateway through Marseille Fos.

Hervé Martel, CEO of the Port of Marseille Fos, highlighted the strategic timing of the partnership as the IMEC corridor enters a decisive phase. He emphasized the responsibility of both ports in structuring and energizing the new trade route, with plans to mobilize and federate involved ports while advocating for more efficient, resilient and sustainable regional connections.

Port Infrastructure and Capabilities

APSEZ operates as an integrated transport utility across cargo origination through its International Freight Network, port handling, rail transport, multi-modal logistics parks, warehousing, and final delivery via road transport. This comprehensive shore-to-door capability is supported by cutting-edge digital infrastructure and AI-driven optimization.

Port of Marseille Fos Profile

The Port of Marseille Fos serves as France's leading maritime gateway and a strategic Mediterranean hub, handling 74 million tonnes of cargo annually with nearly 10,000 vessel calls each year. Its 10,400-hectare industrial and logistics zone ranks among Europe's largest, hosting major global players across liquid and dry bulk, containers, Ro-Ro, energy, industry, and ship repair operations.

The port's multimodal connectivity through rail, river, road and pipelines provides direct access to French and European hinterlands, with robust services linking the Mediterranean to Northern Europe. Environmental excellence remains central to its strategy, with significant investments planned for decarbonization, shore-power capabilities, and green industrial ecosystem development.

Adani Ports & SEZ has received formal approval from its Finance Committee for cash tender offers to purchase senior notes worth up to $495.14 million in aggregate. The committee meeting held on February 10, 2026, marked a crucial step in the company's ongoing capital management strategy.

Finance Committee Approval and Meeting Details

The Finance Committee of Adani Ports and Special Economic Zone Limited convened on February 10, 2026, from 4:15 am to 4:45 am, approving the comprehensive tender offer structure. The committee also authorized the tender offer memorandum and dealer manager agreements required for the transaction.

Tender Offer Structure

The company is offering to purchase two categories of senior notes through separate tender offers:

The 4.0% Senior Notes due 2027 represent the full outstanding amount of $345,137,000, while the 3.10% Senior Notes due 2031 represent a partial amount from the total outstanding principal of $500,000,000.

Pricing and Premium Structure

The tender offers include attractive pricing structures with early tender premiums for noteholders who submit their notes before the early tender deadline:

Noteholders who tender their notes on or before the Early Tender Date of February 24, 2026, will receive both the tender offer consideration and the early tender premium.

Dealer Manager Agreement Terms

The Finance Committee approved dealer manager agreements with specific terms and conditions:

The company has provided representations, warranties, and indemnity to the dealer managers under the agreement. Cantor Fitzgerald & Co. and Jefferies Singapore Limited serve as dealer managers, while Sodali and Co Ltd. acts as the information and tender agent.

Timeline and Settlement Framework

The tender offers follow a structured timeline with specific deadlines:

Strategic Rationale and Compliance

The tender offers form part of Adani Ports and Special Economic Zone Limited's continuing capital management programme aimed at proactively optimizing its liability structure. The company intends to fund the note purchases through a combination of borrowed debt and existing cash reserves.

The company has filed the necessary regulatory disclosures under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, with BSE Limited, National Stock Exchange of India Limited, and other relevant exchanges including Singapore Exchange Limited.

Tenders must be made in minimum denominations of $200,000 principal amount or higher integral multiples of $1,000. The tender offer memorandum and related documents are available through the transaction website at https://projects.sodali.com/adaniports .