Cube Highways Trust has informed the Exchange regarding Disclosure of material issue

October 30, 2026 Listing Department Listing Department BSE Limited National Stock Exchange of India Limited 20th Floor, P. J. Towers Exchange Plaza, C-1, Block-G Dalal Street, Mumbai – 400 001 Bandra-Kurla Complex, Bandra (E) Units: Mumbai - 400 051 Scrip Code: 543899 ISIN: INE0NR623014 Symbol: CUBEINVIT Non-convertible debentures: Scrip Code: 974936 ISIN: INE0NR607017 Scrip Code: 976397 ISIN: INE0NR607033 Scrip Code: 976434 ISIN: INE0NR607041 Scrip Code: 976636 ISIN: INE0NR607058 Scrip Code: 976637 ISIN: INE0NR607066 Scrip Code: 977036 ISIN: INE0NR607074 Scrip Code: 977037 ISIN: INE0NR607082 Scrip Code: 977917 ISIN: INE0NR607090 Scrip Code: 978257 ISIN: INE0NR607108 Subject: Intimation of Transcript – Investor Call with the management of Cube Highways Trust (“InvIT”) Dear Sir/Ma’am, Further to our intimation dated October 22, 2026, we hereby inform that the Transcript of Investors conference call held on Thursday, October 29, 2026, at 4:00 PM IST, for the quarter and half year ended September 30, 2026 is attached herewith. The link to access the audio transcript of the Investor Call with the management of the InvIT is provided below: Audio Transcript Link The aforementioned transcript can also be accessed on our website at below path: Path: Financial Results>>> Results >>> Current Year >>> Q2 >>> Investor Call Transcript (Audio) You are requested to kindly take the same on record. For Cube Highways Fund Advisors Private Limited (acting in its capacity as Investment Manager to Cube Highways Trust) Richa Gupta Rohatgi Compliance Officer and Company Secretary Enclosed: As Above CC to: Trustee to the InvIT Debt Security Trustee Axis Trustee Services Limited Catalyst Trusteeship Limited Axis House, P B Marg, Worli, 901, 9th Floor, Tower-B Peninsula Mumbai, Maharashtra, India, 400025 Business Park, Senapati Bapat Marg Lower Parel(W), Mumbai, Maharashtra- 400013 CUBE HIGHWAYS FUND ADVISORS PRIVATE LIMITED CIN: U74999DL2021FTC379941 Regd. Office: B-376, UGF, Nirman Vihar, New Delhi - 110092 Corporate Office: Unit No. 1901, 19th Floor, Tower-B, World Trade Tower, Plot No. C-1, Sector-16, Noida, U.P-201301 E-mail: - compliance.officer@cubeinvit.com, Phone: +91-120-4868300 Cube Highways Trust Q2 FY27 Investor Call October 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Cube Highways Trust Q2 FY27 Investor Conference Call hosted by DAM Capital Advisors Limited. As a reminder, all participant lines will be in listen-only mode, and you may ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touch-tone phone. I now hand the conference over to Mr. Kishan Mundhra from DAM Capital. Thank you, and over to you, Mr. Kishan. Kishan Mundhra Thank you. Good afternoon, everyone. (DAM Capital) From the Investment Manager, we have with us Mr. Vinay C. Sekar - Chief Executive Officer, Mr. Pankaj Vasani – Group Chief Financial Officer, Mr. Saurabh Bansal – Head – Capital Raising, Investments, & Strategy, Ms. Richa Gupta Rohatgi - Company Secretary and Compliance Officer, Mr. Abhijit S Sathe – Jt. Executive Vice President - Finance and Accounts, Mr. Saurabh Kumar - Vice President - Strategy and Investor Relations and Mr. Deepan Shah - Vice President – Legal. From the Trust's Project Management team, we also have Mr. Bovin Kumar, CEO; Mr. Mukul Shastry, Group General Counsel; and Mr. Anuj Maitrey, Head of Operations. This conference call may include forward-looking statements reflecting the company’s current beliefs, views, and expectations as of the date of this call. These statements are subject to risks and uncertainties, are not guarantees of future performance, and may differ materially from actual results. Please note that this conference is being recorded. I now hand the call over to Mr. Vinay C Sekar, Chief Executive Officer, for his opening remarks. Thank you, and over to you, Mr Sekar. Vinay C Sekar: Thank you, Kishan. Welcome, everyone, to the Q2 FY27 earnings call. I will keep my opening remarks brief. The first half of FY27 has seen several significant milestones for Cube Highways Trust, including our transition from a privately listed entity to a publicly listed InvIT. Against this backdrop, I am pleased to note that our portfolio's operating performance remains exceptionally robust. Traffic growth continues to exceed our expectations, and we believe we are well positioned for the remainder of the year. Our structural resilience to inflation, supported by toll rates linked to the WPI, further strengthens our outlook. We therefore look forward to the rest of the year from a position of strength. With that, I will hand over to Saurabh and Pankaj to take you through the key details. Once again, thank you all for your continued support and for trusting the Cube InvIT team. Saurabh Bansal: Thank you, Vinay. Good evening, everyone, and thank you for joining us. 1 | Pa g e Cube InvIT’s portfolio now comprises 25 operating road assets: 17 toll, 6 HAM, and 2 annuity projects, spanning 8,143 lane kilometers across 12 states and one Union Territory. The portfolio has an 87:13 toll-to-annuity mix and an average residual concession life of 17.6 years. This provides us with a diversified portfolio of long- duration infrastructure assets, with cash flows supported by contractual inflation and interest-rate pass-through mechanisms. During the half-year, the WUPTPL and APEPL concessions reached their scheduled expiry on June 23 and September 14, respectively, after which we handed both assets over to NHAI. Turning to our acquisition pipeline, we have fulfilled all key Conditions Precedent for three of the four assets—WMTPL, CNTL and DTPL. For BFHL, one key Condition Precedent remains outstanding. We plan to initiate the unitholder approval process for these acquisitions shortly, in one or more tranches, subject to receipt of the requisite regulatory clarification. During the quarter, we also signed binding offers with Apco Infratech Private Limited and Chetak Enterprises Limited to acquire two operational HAM assets in Uttar Pradesh, covering approximately 41 kilometres. These acquisitions are strategically important as they extend our operational scope beyond toll collection to include maintenance of portions of our ROFO assets. This enables greater integration of tolling and maintenance activities, improving operational efficiency and control. Additionally, the Trust continues to have a Right of First Offer over three Sponsor assets, providing an avenue for portfolio expansion, subject to commercial alignment and the requisite regulatory approvals. Together with our earlier NIIF acquisitions, these transactions demonstrate our ability to pursue growth through both the Sponsor pipeline and direct acquisitions, broadening our opportunity universe. On operating performance, H1 FY27 delivered strong results, with year-on-year toll revenue growth of 13.2%, excluding WUPTPL, which we handed over to NHAI during the year. Overall portfolio traffic of Q2 FY27 was quite strong and grew by 11.6% year-on-year. Toll revenue growth was led by GAEPL, DATRPL, NAMEPL, MKTPL, SMTPL, NKTPL, JLTPL, and JVTPL, with traffic growth remaining broad-based across the portfolio. Importantly, the majority of our toll assets recorded double-digit traffic growth. Turning to our debt profile, during H1 FY27, we issued two tranches of non-convertible debentures: first, ₹637 crore with a 7.3925% coupon. Second, ₹1,150 crore, with a 7.50% coupon. These issuances increased the proportion of our fixed-rate borrowings to 35.6%, providing an additional hedge against borrowing-cost volatility, alongside the structural protection offered by the contractual mechanisms embedded in our toll and HAM assets. Our weighted average cost of debt remained stable at 7.49%. We expect borrowing costs to increase only marginally following the repo rate increase from 5.25% to 5.50% in October, given o [Showing first 8,000 characters — download PDF for full document]