Built on Trust. Focused on Long-Term Value.

Right Issue (FY 2023-24)

LEGAL DISCLAIMER

YOU MUST READ THE FOLLOWING DISCLAIMER BEFORE CONTINUING.

Please read this notice carefully – By accessing this information on this site, you agree to follow the terms and conditions below, including any modifications that may be made to them from time to time.

These materials (“Issue Materials”) are being made available in connection with the proposed rights issue of units of Highways Infrastructure Trust (“Highways Trust”) (“Issuer”) for an amount aggregating upto ₹ 5,150 million to the eligible unitholders of the Highways Trust in accordance with applicable laws (“Issue”). This Issue is being made pursuant to the provisions of the “Guidelines for rights issue of units by a listed InvIT” dated January 17, 2020 issued by the Securities and Exchange Board of India (the “SEBI Rights Issue Guidelines”) read with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, together with any amendments, circulars and guidelines issued thereunder (the “InvIT Regulations”) and other applicable laws. The Draft Letter of Offer dated July 7, 2023, has been filed with National Stock Exchange of India Limited (“NSE”), being our designated stock exchange and with Securities and Exchange Board of India (“SEBI”).

The Draft Letter of Offer has not been and will not be approved by any regulatory authority in India, including the SEBI or any stock exchange in India. The Issue Materials may not be accessed in any jurisdiction where the delivery of such materials may not be permitted by law. You must satisfy yourself that you are not subject to any local requirements which prohibit or restrict you from accessing these materials. For taking an investment decision, investors must rely on their own examination of the Issuer and the Issue, including the risks involved.

The Draft Letter of Offer may contain statements about future events and expectations that constitute forward-looking statements. There can be no assurance that the results and events contemplated by the forward-looking statements contained therein will in fact occur. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. We make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinion in the Draft Letter of Offer. The information in the Draft Letter of Offer, unless otherwise specified, is only current as of the date of the Draft Letter of Offer. We assume no responsibility to publicly update, amend, modify or revise any forward-looking statements, on the basis of any subsequent development, or information, or otherwise.

You are reminded that documents transmitted in electronic form may be altered or changed during the process of transmission and consequently neither the Issuer, the Investment Manager, the Sponsors, the Trustee or the Lead Manager, nor any of their respective directors or officers or affiliates or associates accept any liability or responsibility of any nature whatsoever in respect of the alterations or changes which have taken place during the course of transmission of electronic data.

The Issuer, the Investment Manager, the Sponsors, the Trustee or the Lead Manager, or any of their respective directors or officers or affiliates or associates will not be responsible for any loss or damage that could result from interception and interpretation by any third party(ies) of any information being made available to you through the Issue Materials. Access to electronic versions of the Issue Materials is being made available in good faith and for information purposes only, in connection with the Issue in accordance with the SEBI Rights Issue Guidelines and InvIT Regulations and is not intended to nor does it constitute an offer and/or an invitation to subscribe to the units referred therein.

You may not and are not authorized to (1) deliver the Draft Letter of Offer or the Issue Materials to any other person; or (2) reproduce such Draft Letter of Offer or Issue Materials in any manner whatsoever. Any distribution or reproduction of the Draft Letter of Offer or the Issue Materials in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the SEBI Rights Issue Guidelines, InvIT Regulations, or other applicable laws of India and/or in other jurisdictions.

You are accessing the Issue Materials or the Draft Letter of Offer on the basis that you are a person into whose possession the Drafts Letter of Offer or the Issue Materials may be lawfully delivered in accordance with the laws of the jurisdiction in which you are located. If you are not permitted to view materials on this site or are in any doubt as to whether you are permitted to view these materials, or if you do not agree to the terms contained in this notice, then you must not access the Issue Materials or Draft Letter of Offer.

To access the Issue Materials or the Draft Letter of Offer, you must be located in India and/or otherwise eligible to invest in the Issue. If you cannot make this confirmation, you must please exit this page. You further confirm that you shall not base any investment decision on the information contained here and you agree that the information contained here is not an offer or a solicitation or an invitation to an offer to subscribe to the units of the Issuer, or a recommendation to buy or sell any such units in any manner or in any other jurisdiction where the same cannot be lawfully delivered in accordance with the laws of the jurisdiction where you are located. You also confirm that you are permitted to proceed to the electronic version of the Issue materials.