Nexus Select Trust takes first step towards scaling presence in East andNortheast India

Guwahati serves the entire Northeast region with a population of over 50 million.

Nexus will be acquiring 100% stake at a purchase consideration of INR 1,600 crores in the upcoming Galaxy Complex, comprising the 0.5M sf Nexus Galaxy Mall and 164-keys Hyatt Regency Hotel. These assets will be developed by the seller to mutually agreed specifications. Nexus will assume operational responsibility upon completion of construction and receipt of necessary approvals.

This transaction marks Nexus Select Trusts first under-construction development transaction in Northeast India and second such transaction since listing. It also represents a strategic evolution of the platform, from a decade of disciplined portfolio expansion, scaling from two malls to 19 best-in-class assets across India, towards selectively pursuing structurally de-risked development opportunities in high-potential consumption markets aligned with Indias long-term consumption growth.

Guwahati is emerging as a leading retail and consumption hub in Northeast India, supported by rising household incomes, increasing urbanisation and a growing appetite for organised retail and premium brands. As the regions largest commercial centre and a key gateway to the eight Northeastern states, the city serves a catchment extending well beyond its immediate population.

The proposed asset is located within a dense and affluent catchment of Guwahati and provides Nexus an entry into the underpenetrated organized retail market of Northeast India., Guwahati remains significantly under-supplied in Grade-A retail, with no planned Grade-A mall developments in the city. With a population of over 2 million and per capita income of $7,000, Guwahati accounts for ~45% of Assams Gross State Domestic Product.

Transaction Highlights--Mall and Hotel will be acquired at total purchase consideration of INR 1,600 crores; implying a range of 8.25-8.50% acquisition cap rate for mall and 11.5-12.5x EBITDA multiple range for Hotel.

--The consideration will be paid upon construction completion and receipt of necessary approvals. It is proposed to be funded through an estimated 40% debt raise and the balance through fresh unit issuance and unit swap; the final funding mix to be determined at transaction closure.

--The transaction is expected to be Net Asset Value (NAV) and Distribution Per Unit (DPU) accretive upon acquisition.

--Post-acquisition Loan-to-Value (LTV) will stand below 20%, thereby the Trust maintaining proforma debtheadroom of $1 billion for future inorganic growth opportunity.

Dalip Sehgal, Executive Director and Chief Executive Officer, Nexus Select Trust, said, This acquisition translates our stated ambition for East and Northeast India into action. It marks our strategic entry into Northeast India, our second under-construction development transaction since listing and the first step towards building a scaled presence across one of the countrys most promising consumptioncorridors. We will now have presence in Kolkata and Guwahati, two of the most affluent cities of East India.Guwahati is the natural gateway to the region and offers a compelling combination of rising consumption,strong brand demand and limited Grade-A retail infrastructure. The transaction allows us to secure a firstmover position in strengthening our wider presence in East and Northeast India. This acquisition will enable us to scale across East Indias key consumption hubs like Kolkata, Guwahati, Siliguri, Patna, Bhubaneswar, Ranchi and Jamshedpur. With our robust East India pipeline of 6 Grade-A retail assets totalling to approximately 3.6 million square feet across 4 key cities, we are building a dominantpresence in the region. Our ambition is to build East India portfolio generating over INR 600 crore of NOI, contributing more than 25% of our existing portfolio NOI, meaningfully advancing our long-term vision of aresilient, pan-India platform anchored in growth, sustainability, and consumer delight.

Gautam Vaswani, Chief Acquisition Officer, Nexus Select Trust, said, The transaction enables Nexus to secure an asset in Northeast without taking on development risk. Thetransaction implies an 8.25-8.50% acquisition cap rate range for the mall and a 11.5-12.5x EBITDA multiplerange for the Hotel. The transaction is expected to be NAV and DPU accretive upon acquisition. Importantly, our post-acquisition LTV will remain below 20%, preserving substantial balance-sheet capacity for future growth.

Manoj Kayal and Deepak Kayal, Promoters, Galaxy Infra Creations Private Limited, said, We are pleased to partner with Nexus, Indias largest Grade-A urban consumption centre platform. Galaxy Complex has been envisioned as a landmark mixed-use development that will bring together high-qualityretail, hospitality, commercial and residential infrastructure in one of Northeast Indias fastest-growing markets. This transaction allows Nexus to bring its proven capabilities to own, operate and scale Grade-A urban consumption centres, while Hyatt partners them to bring globally recognised hospitality expertise. We believe this transaction will help realise the developments full potential and create a destination of enduring value for Guwahati and the wider region."

Nexus Select Trust is Indias first publicly listed retail Real Estate Investment Trust (REIT). The Portfolio comprises 19 best-in-class Grade-A urban consumption centres with a Gross Leasable Area of 10.7 million square feet spread across 15 cities in India, three complementary hotel assets (450 keys) and three office assets with a Gross Leasable Area of 1.3 million square feet. Our consumption centres have a tenant base of aprroximatel 1100 domestic and international brands spanning across 3,200+ stores.

Disclaimer:

The information as captured is based on management information. It is only as on current date and has not been independently verified and may be subject to change without notice. Nexus Select Mall Management Private Limited (the Manager) in its capacity as the Manager of Nexus Select Trust, and Nexus Select Trust 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.

Nexus Select Trust does not provide any guarantee or assurance with respect to any distribution or the trading price of its units. This release also contains certain financial measures and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Nexus Select Trust cash flow based on Ind-AS or IFRS.

This 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 Nexus Select Trust or industry results, to differ materially from the results, financial condition, performanceor achievements expressed or implied by such forward-looking statements. Given these risks, recipients are cautioned not to place undue reliance on these forward-looking statements. (ANI)