Mumbai, November 2023.

Nexus Select Trust (NSE: NXST / BSE: 543913), India’s first listed Retail REIT, reported results today for the second quarter (first full quarter) ended September 30, 2023. The Board of Directors of Nexus Select Mall Management Private Limited, Manager to the Nexus Select Trust, at its Board Meeting held earlier today reviewed and approved the financial results of Nexus Select Trust.

Business Highlight (Q2 FY24)

• Strong operating performance with 97% leased occupancy (Retail) and 18% YoY tenant sales growth in Q2 FY24

• Achieved Net Operating Income of INR 3,909 million (17% YoY growth) and on track to achieve FY24 projections

• Our retail leased occupancy improved by 120 bps over September 2022

• Maintained strong balance sheet with low LTV of 14%, attractive debt cost at 8.3%, AAA / Stable rating and no near-term debt maturity

• Announced first distribution of INR 4,521 million translating to INR 2.98 per unit reflecting 100% payout for the period from date of listing (i.e May 19, 2023) to September 30, 2023. Out of the total distribution, 62% will be in form of dividend (tax-free), 28% in form of Interest and 10% in form of Amortization of SPV Debt (tax-free at time of distribution)

• Signed non-binding term sheet to acquire three Grade-A consumption centres in southern India

• Our GRESB score now stands at 86/100 which is 10 points higher than previous year

Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, said,

“The strong start in Q1FY24 continued in Q2FY24 with robust consumption growth of 18% YoY. Our net operating income for the quarter grew by 17% YoY and was in-line with projections. Our performance is also a reflection of the quality and scale at which we continue to deliver strong organic growth. On the back of this strong performance, we are pleased to announce our first distribution of INR 4,521 million translating to INR 2.98 per unit reflecting 100% payout for the period from date of listing (i.e. May 19, 2023) to September 30, 2023. Continuing with our strategy of inorganic growth, we have signed a non-binding term sheet to acquire 3 high quality malls in southern India. We continue to deliver on our commitment to provide best in class retail infrastructure to over 1,000 domestic and international brands across our portfolio.

Investor Materials and Quarterly Investor Call Details

Nexus Select Trust has released a package of information on the quarterly results and performance, that includes (i) condensed consolidated and condensed standalone financial statements for the quarter ended September 30,2023, and (ii) an earnings presentation covering Q2 FY24 results. All these materials are available in the Investors section of our website at www.nexusselecttrust.com.

Nexus Select Trust will host a conference call on Wednesday, November 08, 2023 at 17:00 hours Indian Standard Time to discuss the Q2 FY24 results. A replay of the call will be available in the Investors section of our website at www.nexusselecttrust.com.