[BUSINESS PARKS REIT Date: November LL, 2020 To, The National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5" Floor, 25" Floor, Phiroze Jeejeebhoy Towers, Plot No. C/1, G- Block, Dalal Street, Bandra Kurla Complex, Mumbai- 400001 Bandra (E), Mumbai- 400051. Scrip Code “543217” (Units) and Scrip Symbol “MINDSPACE” (Units) Scrip Code “960104” (Debentures) Subject: Outcome of the Meeting of the Governing Board (“Board”) of K Raheja Corp Investment Managers LLP (“Manager”), manager to Mindspace Business Parks REIT (“Mindspace REIT”) held on Wednesday, November 11, 2020 Dear Sir/Madam, We wish to inform you that the Governing Board of the Manager of Mindspace REIT, at its meeting held on Wednesday, November 11, 2020, through audio-visual electronic communication has, inter-alia: i. approved the Unaudited Condensed Standalone Interim Financial Statements and Unaudited Condensed Consolidated Interim Financials Statements of Mindspace REIT for the quarter and six months ended September 30, 2020, ii. adopted valuation report for the half year ended September 30, 2020, issued by Mr. Shubhendu Saha, valuer of Mindspace REIT, iii. declared Net Asset Value of Rs. 338.41 per Unit for Mindspace REIT as per Regulation 10(22) of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, based on the Valuation Report dated November 3, 2020, issued by Mr. Shubhendu Saha, valuer of Mindspace REIT, iv. approved reconstitution of the Nomination and Remuneration Committee as follows: | Constitution Category Cnr. Bobby Parikh (Chairperson) Independent Member of the Governing Board Ms. Manisha Girotra (Member) Independent Member of the Governing Board Mr. Ravi C. Raheja (Member) Non-Independent Member of the Governing Board v. approved of formation of the Investment Committee as follows to inter-alia consider and recommend proposals for acquisition of real estate assets as permitted under Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014: Constitution Category |r. Deepak Ghaisas (Chairperson) Independent Member of the Governing Board Ms. Manisha Girotra (Member) Independent Member of the Governing Board Mr. Neel C. Raheja (Member) Non-Independent Member of the Governing Board K Raheja Corp Investment Managers LLP LLP Identification Number (LLPIN): AAM-1179 Regd. Office: Raheja Tower, plot No. C-30, Block ‘G’, Bandra Kurla Complex, Bandra (E), Mumbai — 400 051 Phone: +91 — 22- 2656 4000 | mindspacereit.com BUSINESS PARKS REIT vi. accepted the resignation of Mr. Vishal Kumar, Compliance Officer of Mindspace REIT with effect from the close of business hours of November 11, 2020, The Board placed on record its sincere appreciation for the invaluable contribution made by Mr. Vishal Kumar, vii. appointed Mr. Rohit Bhase as the Compliance Officer of Mindspace REIT with effect from commencement of business on November 12, 2020. The Board welcomed Mr. Rohit Bhase as the Compliance Officer. Further, we have enclosed:- 1. Unaudited Condensed Standalone Interim Financial Statements and Unaudited Condensed Consolidated Interim Financials Statements of Mindspace REIT for the quarter and six months ended September 30, 2020 along with the Limited Review Report thereon by the Statutory Auditors as Annexure 1; . Press Release in connection with the Unaudited Condensed Standalone Interim Financial Statements and N Unaudited Condensed Consolidated Interim Financials Statements of Mindspace REIT for the quarter and six months ended September 30, 2020 as Annexure 2; 3. Earnings presentation for quarter and six months ended September 30, 2020 comprising of the Business and Financial Results of Mindspace REIT for the quarter and six months ended September 30, 2020 as Annexure 3; 4. Summary Valuation Report for the half year ended September 30, 2020, issued by Mr. Shubhendu Saha, valuer of Mindspace REIT as Annexure 4; 5. Independent Property Consultant Report issued by Cushman & Wakefield India Private Limited, on review of the assumptions and the methodologies used for the valuation by Mr. Shubhendu Saha, valuer of Mindspace Business Parks REIT in his Valuation Report for the half year ended September 30, 2020, as Annexure 5. The details of related party transactions are set out at page nos. 18 to 21 of the Unaudited Condensed Standalone Interim Financial Statement and at page nos. 46 to 49 of the Unaudited Condensed Consolidated Interim Financial Results of Mindspace REIT, which is enclosed as Annexure 1. The computation of Net Asset Value is set out at page no. 8 of Earnings presentation, which is enclosed as Annexure 3. Please take the same on your record. Thanking you, For and on behalf of K Raheja Corp Investment Managers LLP (acting as the Manager to Mindspace Business Parks REIT) frst wt htroh_ Authorised Signatory Name: Preeti Chheda Designation: Chief Financial Officer Place: Mumbai Encl: As above K Raheja Corp Investment Managers LLP LLP Identification Number (LLPIN): AAM-1179 Regd. Office: Raheja Tower, plot No. C-30, Block ‘G’, Bandra Kurla Complex, Bandra (E), Mumbai — 400 051 Phone: +91 — 22- 2656 4000 | mindspacereit.com Annexure -1 Chartered Accountants Lotus Corporate Park 1st Floor, Wing A- G CTS No.185/A, Jay Coach Off Western Express Highway Goregaon (East) Mumbai - 400 063 Maharashtra, India Tel: +91 22 6245 1000 Fax: +91 22 6245 1001 INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF CONDENSED STANDALONE INTERIM FINANCIAL STATEMENTS To The Governing Board, K. Raheja Corp Investment Managers LLP (The “Investment Manager”) (Acting in capacity as the Investment Manager of Mindspace Business Parks REIT) 1. We have reviewed the accompanying unaudited Condensed Standalone Interim Financial Statements of MINDSPACE BUSINESS PARKS REIT (the “REIT”), which comprise the unaudited Condensed Balance Sheet as at September 30, 2020, the unaudited Condensed Statement of Profit and Loss, including other comprehensive income, the unaudited Condensed Statement of Cash Flow for quarter and six months ended September 30, 2020, the unaudited Condensed Statement of changes in Unitholders’ Equity for the six months ended September 30, 2020 along with summary of the significant accounting policies and select explanatory notes (together hereinafter referred as the “Condensed Standalone Interim Financial Statements”). 2. The Condensed Standalone Interim Financial Statements, which is the responsibility of the Investment Manager and approved by the Governing Board of the Investment Manager, have been prepared in accordance with the requirements of SEBI (Real Estate Investment Trusts) Regulations, 2014 as amended from time to time read with SEBI Circular No. CIR/IMD/DF/146/2016 dated December 29, 2016 (the “SEBI circular’); recognition and measurement principles laid down in the Indian Accounting Standard (Ind AS) 34 “Interim Financial Reporting”, as prescribed in Rule 2(1)(a) of the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other accounting principles generally accepted in India, to the extent not inconsistent with the SEBI circular, including any guidelines and circulars issued thereunder. Our responsibility is to issue a report on the Condensed Standalone Interim Financial Statements based on our review. 3. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Investment Manager’s personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Regd. Office: Indiabulls Finance Centre, Tower 3, 27th – 32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India (LLP Identification No. AAB-8737) 4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Condensed Standalone Interim Financial Statements have not been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 “Interim Financial Reporting”, as prescribed in Rule 2(1)(a) of the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other accounting principles generally accepted in India, to the extent not inconsistent with the SEBI circular, including any guidelines and circulars issued thereunder, has not disclosed the information required to be disclosed including the manner in which it is to be disclosed in terms of the SEBI circular, or that it contains any material misstatement. For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm’s Registration No. 117366W/W-100018) Nilesh Shah Partner Membership No. 49660 Mumbai, November 11, 2020 UDIN: 20049660AAAACU4242 Chartered Accountants Lotus Corporate Park 1st Floor, Wing A- G CTS No.185/A, Jay Coach Off Western Express Highway Goregaon (East) Mumbai - 400 063 Maharashtra, India Tel: +91 22 6245 1000 Fax: +91 22 6245 1001 INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS To The