The Trust stands as India's first perpetual warehousing and industrial parks InvIT. (Source: JLL Report) Our Sponsor, NDR Warehousing Private Limited is recognized as one of India's pioneering warehousing developers and was the first entrant in the general warehousing space to secure funding from a major global institution. (Source: JLL Report) As on June 30, 2026. The Trust manages a total leasable area of 22.97 Msf, with 21.58 Msf. currently developed. Our diversified Portfolio Assets span over 97 warehouses and 40 industrial parks across 17 cities throughout India which according to the JLL Report acts as a critical enabler for both light manufacturing and efficient first- and last-mile supply chain distribution. As of March 31, 2026, the Project SPVs had a Proposed Development Area of 0.66 msf in these sub-markets, which is expected to cater to the sustained demand of tenants in these regions. As global supply chains evolve in response to deglobalization trends, the importance of robust domestic logistics infrastructure has intensified. NDR Warehousing delivers secure and efficient logistics infrastructure solutions through cutting-edge facilities equipped with advanced technology, strategically positioned across India's key logistics markets. (Source: JLL Report) Our Portfolio Assets demonstrate a notably diversified portfolio across both Tier-1 metropolitan markets and emerging Tier-2/Tier-3 cities, reflecting a strategic approach to capturing growth across India's evolving logistics landscape. (Source: JLL Report)

Our Portfolio is located in the top eight Tier-1 cities, including Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR Delhi, and Pune, which according to the JLL Report have established themselves as primary hubs for organized warehousing activity in India with approximately 80% of the country's total warehousing stock concentrated within these metropolitan markets. Emerging Tier-2 and Tier-3 cities are playing an increasingly pivotal role in accommodating demand spillover, supporting regional manufacturing expansion, and serving as strategic nodes for last-mile distribution networks. Our strategic presence in markets such as Coimbatore, Surat, Hosur, Lucknow, Guwahati, Kochi, Sri City, Jaipur, Nagpur, amongst other markets which according to JLL Report are witnessing heightened developer and occupier interest, driven by factors including lower land costs, improving connectivity infrastructure, state-level policy incentives, and proximity to industrial corridors and export-oriented manufacturing zones. According to JLL Report, the locations of our Portfolio Assets are well positioned and strategically aligned with the logistics infrastructure with major consumption centres, manufacturing clusters, and multimodal transportation networks. The Trust accounts for approximately 9% of the total potential leasable area among institutional operators, with 22.2 msf. of total potential area out of a combined institutional pool of 249.9 msf. Our Portfolio Assets exhibits strength in southern and emerging markets, contrasting with competitors who maintain heavier concentration in traditional Tier-1 cities. (Source: JLL Report)

We believe that our Portfolio has assumed a pivotal role in ensuring efficient first and last mile delivery for various businesses including those engaged in 3 PL, retail, auto and industrial, home appliances, e-commerce, FMCG, Q Commerce, Pharmaceuticals and others. Our Portfolio has a tenant base of 132 domestic and multi-national tenants and is well diversified across assets, sectors and tenants with no single asset and tenant contributing more than 5% each of our total Gross Rentals for the month of March 31, 2026. Our high-quality tenant base, along with long-term contracted rentals (with a WALE of 11.30 years and current weighted average in-place rentals of the Portfolio Assets being ₹20.96 sq. ft,) provides stability to our revenue from operations. For further details for top 10 tenants please see "- Diversified tenant base of national and international brands across multiple sectors" on page 219.

We have benefited immensely from the rich experience of our Sponsor, NDR Warehousing Private Limited, belonging to the NDR Group. The NDR Group and Naidu Amrutesh Reddy, promoter of our Sponsor, has a long and successful track record of experience covering the entire value chain of the industrial and logistics industry from warehousing, bonded warehousing, Container Freight Stations ("CFS"), Private Freight Terminals ("PFTs"), temperature control facilities and 3PL capabilities, which we believe has helped us in navigating our business with sharper insight. Naidu Amrutesh Reddy, a third-generation entrepreneur and a director of our Investment Manager, has over two decades of experience in logistics, particularly in warehousing and has been with the NDR Group since 1998. The NDR Group's experience across the logistics sector, their land acquisition capabilities, strong tenant relationships, coupled with our Project Manager's execution capabilities, has helped it obtain a first mover advantage across key warehousing submarkets, giving us a one of the competitive position and enabling us to attract, retain and grow multinational tenants in our warehouses.

Since the Initial Offering, our Project Manager has demonstrated consistent execution capabilities in land acquisition, warehouse development and leasing across key submarkets in India. The following table sets out the growth in our portfolio since the Initial Offering:

While our Portfolio is stabilized with an Occupancy of 98.25%, Committed Occupancy of 1.51% and 11.30 years WALE as of March 31, 2026, our Portfolio enjoys strong growth prospects through a combination of contracted revenue, re-leasing, lease-up of vacant space and new construction within the Portfolio to accommodate tenant expansion. Further, the Net Asset Value ("NAV") per Unit has grown consistently over the last three financial years, from ₹128.27 per Unit in Fiscal 2024 to ₹135.52 per Unit in Fiscal 2025 and further to ₹142.03 per Unit in Fiscal 2026, reflecting a CAGR of approximately 6.05% over this period. This growth has been supported by consistently high portfolio occupancy, which has improved from 95.27% in Fiscal 2024 to 98.00% in Fiscal 2025 and 99.76% in Fiscal 2026.

Through our operating and investment abilities, we have:

• achieved an Occupancy of 98.25% across our Portfolio as of March 31, 2026;
• implemented several ESG initiatives over the last three fiscal years, including rainwater harvesting, water treatment systems, waste segregation and management, natural lighting, ventilation etc.

Note: All percentage figures rounded off to nearest one decimal place

Our Portfolio Assets (as on March 31, 2026)

For details of operational data in relation to our Portfolio Assets, please see the section entitled "Our Business and Properties – Our Portfolio Assets (as on March 31, 2026)" on page 215.

Our Portfolio with details of Total Leasable Area is mapped below: