Awfis Space Solutions Limited has made history by becoming India's first coworking brand to simultaneously achieve three prestigious WELL accolades from the International WELL Building Institute (IWBI). This landmark achievement positions the company at the forefront of creating healthier, safer, and more inclusive workplaces across the Indian flexible workspace sector.

Historic Achievement in Workplace Health Standards

Through the WELL at scale pathway, Awfis has secured multiple ratings that demonstrate its commitment to reimagining workplaces with a people-first approach. The company achieved the WELL Health-Safety Rating and WELL Equity Rating across 35 locations nationwide, while 15 coworking centres earned the industry-leading WELL Coworking Rating in partnership with The Instant Group.

Leadership Vision and Strategic Impact

Amit Ramani, Chairman & Managing Director of Awfis Space Solutions Ltd., emphasised the significance of this achievement: "We are proud to mark a milestone that places Awfis at the forefront of healthier, safer, more inclusive, and future-ready workplaces in India. These ratings reflect our unwavering commitment to creating environments where every individual can truly thrive."

The achievement aligns with the globally recognised WELL Standard, setting a new benchmark for future-ready work environments in India and moving beyond traditional notions that health is merely the absence of illness.

Comprehensive Health and Safety Excellence

The WELL Health-Safety Rating recognises Awfis' operational excellence in prioritising health and safety strategies across its locations. This rating encompasses several critical areas:

• Rigorous cleaning and sanitisation practices
• Emergency preparedness protocols
• Indoor air quality management systems
• Stakeholder engagement initiatives

For occupants, these measures translate into greater confidence, reduced health-related risks, and enhanced procedures for business continuity, while organisations benefit from environments designed to actively promote employee well-being and boost engagement and productivity.

Advancing Equity and Inclusion

The WELL Equity Rating demonstrates Awfis' focus on fairness, health equity, inclusion, and accessibility. This recognition highlights the company's robust people policies designed to prevent discrimination and promote equitable access to healthier workspaces. The rating also acknowledges universal design and accessibility features that enable barrier-free movement across facilities, supporting diverse teams and fostering belonging while aligning with evolving social sustainability priorities.

Specialised Coworking Health Strategies

The WELL Coworking Rating, launched by IWBI in partnership with The Instant Group, addresses health strategies specifically relevant to the coworking community. This rating encompasses over 50 features across all 10 WELL concepts and includes:

Key Health Management Features:

• Air Quality: Advanced indoor air quality management with continuous monitoring and filtration
• Water Safety: Regular water potability testing to enhance drinking water quality
• Nutrition: Nourishment guidelines promoting healthier, clearly labelled food choices

Industry Recognition and Market Impact

Prateek Khanna, Chief Operating Officer at the International WELL Building Institute, praised the achievement: "Awfis' achievements reflect the leadership the flexible workspace sector in India needs today. As India's coworking workforce grows, so does the need for healthier, more engaging, and more equitable workplaces."

Sam Pickering, Executive Director and Head of Sustainability at The Instant Group, added: "Awfis achieving multiple WELL Ratings across its portfolio is a significant milestone. It's encouraging to see Awfis setting a new benchmark for people-first flexible workspaces and demonstrating clear leadership in workplace health, safety, and equity across the region."

This historic achievement reinforces Awfis' position as India's largest flexible workspace provider, serving more than 3,400 clients across diverse industries through its presence in 18 cities and 200+ centres. The simultaneous WELL accolades demonstrate the company's commitment to scalable and adaptable workspace solutions that prioritise occupant health and well-being.

Awfis Space Solutions Limited has granted 10,000 employee stock options under its Employee Stock Option Scheme 2024, following approval from the Nomination and Remuneration Committee on January 05, 2025. The committee meeting was held from 03:19 P.M. to 03:32 P.M., where the grant was approved for eligible employees of the company.

Grant Details and Pricing Structure

The employee stock options have been granted with specific terms designed to incentivize employee retention and performance. The key parameters of the grant are structured as follows:

The pricing formula allows the committee to provide a discount of up to 30% or any other percentage as determined, while ensuring the exercise price does not fall below the face value of the company's shares. The granted options are priced at ₹345.73 per option, representing approximately 30% of the market price based on the closing price of the previous trading day from the grant date.

Vesting and Exercise Framework

The options follow a structured vesting schedule designed to promote long-term employee engagement. The vesting framework includes several key components:

• Vesting Period: Four years with 25% vesting on completion of each 12-month period
• Vesting Commencement: One year from the grant date
• Maximum Vesting Period: Up to six years from grant date at committee discretion
• Exercise Window: Maximum of two years from respective vesting dates
• Share Conversion: Each option converts to one equity share upon exercise

The scheme will be implemented through direct route, where the company will allot fresh shares directly to employees upon exercise of vested options. All vested options must be exercised within the specified timeframe, failing which they will lapse.

Regulatory Compliance and Scheme Structure

The ESOP Scheme 2024 operates in full compliance with SEBI regulations, specifically the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The scheme is administered by the Nomination and Remuneration Committee, which has the authority to determine eligibility criteria and grant terms.

Employee Categories and Cessation Provisions

The scheme includes comprehensive provisions for different employee scenarios, ensuring fair treatment across various circumstances. The framework addresses continuous employment, retirement, permanent incapacity, and other cessation scenarios with specific timelines and conditions for option exercise.

For employees in continuous service, all vested options remain exercisable within the standard two-year window. Special provisions exist for retirement or superannuation cases, where vested options retain their full exercise period, and unvested options continue vesting according to original schedules in accordance with company policies.

Corporate Governance and Documentation

The grant notification was filed under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring full transparency with stock exchanges. The company has provided detailed annexures outlining exercise conditions, cessation scenarios, and required documentation for various circumstances including nominee appointments and legal heir processes.