Embassy Office Parks REIT has filed two independent valuation reports with the stock exchanges for a 0.6-acre land parcel situated at Survey Nos. 58/1(part) and 59/1(part), Thanisandra Village, K.R. Puram Hobli, Bengaluru East Taluk, Bengaluru. The land parcel is contiguous to and an extension of the existing Embassy Manyata Business Park and is proposed to be acquired by Manyata Promoters Private Limited (MPPL), a 100% holding company of Embassy Office Parks REIT, in accordance with the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. The filings were submitted by Vinitha Menon, Head – Company Secretary and Compliance Officer, on July 30, 2026.

Property Overview

The subject land parcel admeasures approximately 0.60 acres (24 Guntas), comprising portions of Survey Nos. 58/1 and 59/1, each admeasuring 12 Guntas. The property is KIADB (Karnataka Industrial Areas Development Board) allotted land and is accessible primarily via the Lodha Mirabelle Road, approximately 650 meters from the main Manyata Tech Park Road. The site is approximately 3 km from the Outer Ring Road (ORR) and 5 km from Bellary Road (NH 44). The property has limited frontage and visibility, and a public road of approximately 18 meters wide passes through the land parcel.

Key details of the subject property are summarised below:

Valuation Report I – Ms. L. Anuradha (MRICS) with C&WI Review

The first valuation report (Appendix I), dated July 30, 2026, with a valuation date of June 30, 2026, was prepared by Ms. L. Anuradha, MRICS (IBBI Registration No. IBBI/RV/02/2022/14979), with independent property consultant review services undertaken by Cushman & Wakefield (India) Private Limited. The valuation was carried out using the Market Approach Method, which was considered the most appropriate methodology given that the land is currently vacant with no development or approval plans in place.

Under the Market Approach, the subject property was benchmarked against two comparable land transactions in the Thanisandra micro-market, both transacted in Q3 2024 along Bellahalli Main Road. Adjustments were applied across parameters including location and neighbourhood profile, land size, shape, developability, accessibility/visibility, and time factor.

The comparative analysis and adjustments are summarised below:

The adopted market value derived from this analysis was INR 4,466 per Sq. ft., translating to a total market value of INR 117 Million.

Cushman & Wakefield (India) Private Limited, in its independent property consultant review, opined that the adopted market value of the subject property is appropriate based on an analysis of comparable land transactions and prevailing market trends. C&WI assessed the land value of the subject property to be in the range of INR 178 – 218 Million per acre, thereby translating to a market value in the range of INR 107 to 131 Million, and confirmed that the adopted market value is in line with current market evidence.

Valuation Report II – iVAS Partners

The second valuation report (Appendix II), dated July 29, 2026, with a date of assessment of July 24, 2026, was prepared by iVAS Partners (Valuer Registration Number: IBBI/RV-E/02/2020/112), represented by its partner Mr. D. Pavan Kumar (Valuer Registration Number: IBBI/RV/02/2026/16153). The valuation was conducted in accordance with the IVSC International Valuation Standards (effective January 31, 2025) and adopted the Direct Comparison Approach.

The valuation benchmarked the subject property against two comparable land parcels — one quoted property on Hebbal Outer Ring Road (6.36 acres, INR 4,969 per sft of FSI) and one transacted property on Bellary Road, Yelahanka (10.0 acres, transacted in Q1 2025, INR 3,956 per sft of FSI). Adjustments were applied for size, location and profile of surroundings, access/visibility/frontage, zoning, and marketability.

Key adjustments applied are summarised below:

Based on the above analysis, iVAS Partners opined that the achievable capital value for the subject property would be in the range of approximately INR 1,750 per sft of FSI of land to INR 2,450 per sft of FSI of land (average of INR 2,100 per sft per FSI), translating to an overall market value of approximately INR 109.77 Mn for a land extent of approximately 0.60 acres (for a FSI of 2.0) as on July 24, 2026.

The Ready Reckoner Rate (as per documents published by the Government of Karnataka) for the subject property is noted at INR 94.5 Mn per acre (INR 19,525 per Sq Yard), reflecting an 80% premium over the agricultural land guideline value of INR 525 Lakhs per acre on account of the non-agricultural nature of the land.

Summary of Valuations

The two independent valuation reports arrive at the following market values for the subject land parcel:

Both reports were prepared in compliance with SEBI (Real Estate Investment Trusts) Regulations, 2014, for the purpose of disclosure of valuation of the asset proposed to be acquired as part of the Embassy Office Parks REIT portfolio. The subject property, which is currently a vacant land parcel with no proposed development plan, is expected to be integrated within the larger Embassy Manyata Business Park development post-acquisition by Manyata Promoters Private Limited via a lease cum sale deed from KIADB.

Unitholders of Embassy Office Parks REIT have approved the REIT’s audited financial statements and independent portfolio valuation report for the fiscal year ended March 31, 2026. The approvals were secured during the Eighth Annual Meeting of Unitholders held on July 24, 2026, via video conferencing. The resolutions passed with near-unanimous support, reflecting strong alignment among institutional and public unitholders on the REIT’s financial health and asset valuations.

The meeting addressed two ordinary resolutions as per the notice dated July 02, 2026. The first resolution concerned the adoption of the audited standalone and consolidated financial statements, along with the auditor’s report and the annual report on activities and performance. The second resolution involved the approval of the valuation report issued by Ms. L Anuradha, MRICS, an independent valuer, for the REIT’s portfolio as of March 31, 2026. Axis Trustee Services Limited, the trustee to Embassy REIT, noted the voting results and the scrutinizer’s report.

Voting Results Breakdown

The voting process included remote e-voting from July 20, 2026, to July 23, 2026, and e-voting during the meeting. Rupal D. Jhaveri, Company Secretary, served as the scrutinizer for the process. National Securities Depository Limited (NSDL) facilitated the voting platform, while KFin Technologies Limited acted as the Registrar and Share Transfer Agent.

A total of 1,52,061 unitholders were on record as of July 17, 2026. Of these, one sponsor group member and 39 public unitholders attended the meeting through video conferencing. The remaining votes were cast via remote e-voting. For the financial statements resolution, 69,03,46,563 votes were cast in favour out of 69,03,46,947 total polled votes, representing 99.9999% support. Similarly, the valuation report received 69,03,46,411 votes in favour, also amounting to 99.9999% support.

Procedural Compliance and Disclosures

The scrutinizer’s report confirmed that the meeting was conducted in a fair and transparent manner in compliance with Chapter 9 of the SEBI Master Circular SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025, for Real Estate Investment Trusts. The report highlighted that 2,64,02,829 votes were marked as invalid, primarily due to technical discrepancies or duplicate entries, while 3,16,661 votes were abstained. These invalid and abstained votes did not impact the passage of the resolutions, which required a simple majority.

Embassy Office Parks Management Services Private Limited, the manager to Embassy Office Parks REIT, ensured that unitholders who voted remotely could not vote again during the live meeting. The voting summary was downloaded from the NSDL platform in the presence of two witnesses after the closure of e-voting at approximately 3:18 PM IST on July 24, 2026. The archive of the webcast and detailed voting results are available on the REIT’s investor relations website.