Bangalore, India, June 13, 2022

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, successfully completed 3 years of listing, with strong business performance and delivering over ₹5,800 crores distributions to its growing Unitholder base.

Earlier today, Embassy REIT held its 4th Annual Meeting at the recently launched Hilton Convention Centre at Embassy Manyata in Bangalore. During this meeting of its Unitholders, the Board and Management team highlighted Embassy REIT’s business resilience and achievements during the pandemic and presented the business strategy and roadmap for growth.

Jitu Virwani, Chairman of the Board of Manager to Embassy REIT, said,

“Since our IPO in 2019, Embassy REIT has consistently delivered over the last three years, despite two years in the shadow of the global pandemic. We have always focused on the creation of long-term, total return value for our growing base of unitholders. Embassy REIT is primed to deliver growth as corporates implement their return-to-office plans and accelerate hiring and leasing continues to gain momentum driven by global technology trends.”

Performance Highlights Since Listing

• Leased 6.4 msf across 135 deals, increasing occupier base to over 200+ blue-chip corporates
• Delivered 2.5 msf of new space, including 1.1 msf state-of-the art JP Morgan campus and commenced 4.6 msf new development growth cycle
• Acquired and integrated a 9.2 msf marquee asset, Embassy TechVillage, in India’s best micro-market in Bangalore
• Grew Net Operating Income by 58% to ₹2,491 crores in FY2022 (compared to FY2019) and achieved 84% operating margin
• Distributed over ₹5,800 crores to Unitholders, delivered over 15% annualized total returns and grew Unitholder base by 10x to over 40,000

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.8 million square feet (‘msf’) portfolio of eight infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 33.8 msf completed operating area and is home to over 200 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. For more information, please visit www.embassyofficeparks.com..

Disclaimer

This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.

This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, including the impact of COVID-19 on us, our occupiers and the Indian and global economies, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained, such as COVID-19. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements.

This press release also contains certain financial measures which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT's financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments.