Capital Infra Trus has informed the Exchange regarding Disclosure of material issue

July 27, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-l, Block-G Corporate Relationship Department Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra (E), Mumbai-400051 Fort, Mumbai- 400001 Symbol: CAPINVIT Scrip Code: 544338 ISIN: INE0Z8Z07016, INE0Z8Z07024 Subject: Transcript of Earning Conference Call held on July 22, 2026. Dear Sir/ Madam, In continuation to our previous intimations dated July 17, 2026 and July 22, 2026, we hereby submit transcript of the Earning Conference Call of Capital Infra Trust (“Trust”) held on July 22, 2026, at 03:00 P.M. (IST) for Q1 & FY26-27 Financial Results. The aforementioned transcript can also be accessed on our website at below path: (Path: Investors >>> Financial Result >>> Quarterly Results >>> FY 2026-27 >>> Q1 >>> Call Transcript (Text)) Kindly take the above information on your records. The above information is also available on the website of the Trust i.e https:/capitalinfratrust.com/ For Capital Infra Trust (acting through its Investment Manager, Gawar Investment Manager Private Limited) Shubham Jain Company Secretary and Compliance Officer Copy to: Trustee to the Trust Debt Security Trustee Axis Trustee Services Limited IDBI Trusteeship Services Limited Axis House, P B Marg, Worli, Mumbai, Ground Floor, Universal Insurance Building Maharashtra, India – 400025 Sir P.M. Road, Fort, Mumbai, Maharashtra – 400001 CAPITAL Infra Trust 0124 – 4920139 Registration no: (formerly known as National Infrastructure Trust) compliance@capitalinfratrust.com IN/InvIT/23-24/0029 Unit No. 1401 -1403, 14th Floor, Tower B, SAS Tower, Medicity, Sector - 38, Gurugram - 122001, Haryana “Capital Infra Trust Q1 FY27 Earnings Conference Call” July 22, 2026 MANAGEMENT: MR. HARE KRISHNA – CHIEF EXECUTIVE OFFICER MR. AMIT KUMAR – CHIEF FINANCIAL OFFICER MODERATOR: MR. ADITYA SAHU – HDFC SECURITIES Page 1 of 13 Capital Infra Trust July 22, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Capital Infra Trust InvIT Q1 FY27 earnings call hosted by HDFC Securities Limited. As a reminder, all participant lines will be in the listen- only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Aditya Sahu from HDFC Securities Limited. Thank you and over to you, sir. Aditya Sahu: Thank you, Dorwin. On behalf of HDFC Securities, I welcome everybody to Q1 FY27 earnings conference call of Capital Infra Trust. From the management, we have Mr. Hare, Chief Executive Officer, and Mr. Amit, Chief Financial Officer. I now hand over the call to Mr. Hare and his management team for the opening remarks, followed by the Q&A session. Over to you, sir. Hare Krishna: Thanks, Aditya. Good afternoon, everyone, and thank you for joining us today for Capital Infra Trust Q1 FY27 earnings call. During the quarter, the Trust continued to deliver a resilient operating and financial performance, reflecting the strength of our strategy of owning and operating high-quality operational infrastructure assets through a risk-conscious approach. Stable asset operations, predictable and annuity-backed cash flows, and prudent balance sheet management continue to provide a strong foundation for sustainable long-term value creation. Our portfolio remains well-positioned to benefit from the current macroeconomic environment. Our hybrid annuity model portfolio is structurally linked only to the interest rate cycle, which benefits from rising interest rate environment and is insulated from several external variables that typically impact cash flow visibility and earnings. As such, the Trust inflows for the quarter were in line with the business plan. In addition, the contractual fixed-price O&M contract for our portfolio has insulated us from any inflationary pressure on our overall expenses. This enables us to maintain stable and predictable cash flows irrespective of broader economic conditions. Our portfolio of 12 operational HAM assets continued to perform satisfactorily. Routine and preventive maintenance activities were undertaken across the portfolio, asset availability remained high, and the independent engineer confirmed satisfactory riding quality with no material pavement or surface deficiencies. We also remain compliant with our concession obligations, with no NHAI litigations or penalties reported during the quarter. As part of our acquisition strategy, we have identified six NHAI HAM assets from the sponsor's ROFO pipeline that are currently undergoing technical, legal, and financial DD. Together, these assets represent approximately 181 kilometer of project length across four states and a combined bid project cost of INR 4,871 crores. Page 2 of 13 Capital Infra Trust July 22, 2026 They are operational or at advanced stages of completion, are under NHAI authority, and provide annuity and concession visibility extending largely to 2040. Subject to satisfactory due diligence and necessary approvals, the proposed acquisition would expand our portfolio from 12 to 18 assets. The addition of long-duration NHAI-backed HAM assets would also extend our annuity visibility, diversify project and geography-level cash flows, and increase the recurring cash flow base available to support future distributions. With no direct traffic risk exposure and largely predictable operating obligations, these assets are aligned with the existing risk profile and investment strategy of the Trust. Our sponsor ROFO pipeline of additional 11 assets provides us with an important strategic advantage, providing meaningful visibility for further portfolio expansion. In addition, we are also selectively evaluating suitable third-party operational assets where the asset quality, contractual framework, risk profile, and valuation are aligned with our investment criteria. As of June 26, our consolidated net debt to enterprise value ratio stood at 41.1%. As part of our acquisition funding strategy, we expect the leverage ratio to move towards approximately 60% from current 41%, subject to the proposed transaction structure and applicable approvals. This available headroom gives us the ability to fund a meaningful portion of the acquisition through debt while calibrating the requirement for incremental equity. Our borrowing profile has also become increasingly aligned with the structure of our underlying HAM assets. At the end of June 26, approximately 58.6% of our borrowings were floating rate, while 41.4% were fixed rate, while the overall effective interest rate declined from 7.33% in March to 7.24% in June. Our focus will remain on maintaining a competitive borrowing cost, aligning debt repayments with project cash flows and preserving sufficient risk flexibility for future acquisitions. Predictable and sustainable distributions remain centre to our investor proposition. For FY27, we maintained our distribution guidance of INR9 to INR9.25 per unit. Having declared a distribution of INR2.32 per unit for Q1 FY27, we remained confident of delivering the full-year distribution guidance. To conclude, Q1 FY27 has been a quarter of stable operations and disciplined preparation for the Trust's next phase of growth. We also have six identified assets currently under diligence, supported by a broader sponsor ROFO pipeline, while retaining the flexibility to selectively evaluate value-accretive third-party opportunities. Our priorities remain clear maintain high-quality operations, complete acquisitions only where they are NAV accretive, use leverage prudently, optimize our cost of capital and deliver predictable distributions to our unit holders. Thank you. Now, I would like to hand over the call to Amit for financial update. Amit Kumar: Thank you, Hare. Good afternoon, everyone. I'll [Showing first 8,000 characters — download PDF for full document]