Anzen India Energy Yield Plus Trust has informed the Exchange regarding Disclosure of material issue

ERAML/ANZEN/2026-27/55 Date: August 04, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), Fort, Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 543655 ,976475, 977319 Symbol: ANZEN Dear Sir/Madam, Subject: Submission of Valuation Report and NAV of Anzen India Energy Yield Plus Trust (“Anzen”) as of June 30, 2026 Pursuant to the applicable provisions of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 read with circulars and guidelines issued thereunder from time to time (“InvIT Regulations”): 1. Valuation Report dated August 03, 2026, as of June 30, 2026 issued by independent valuer, Mr. Jayeshkumar Shah having IBBI Registration Number IBBI/RV/07/2020/13066 is enclosed herewith. 2. The following Net Asset Value (“NAV”) of Anzen as on June 30, 2026, as computed by the management based on the above Valuation Report is as follows: NAV computation: Particulars Details Total outstanding units as on June 30, 2026 33,60,62,900 NAV (Per unit) 131.40 Kindly take the same on your records. Thanking you, For Anzen India Energy Yield Plus Trust (acting through its Investment Manager EAAA Real Assets Managers Limited) Sanket Shah Company Secretary and Compliance Officer (M. No. A24593) EAAA Real Assets Managers Limited (formerly known as Edelweiss Real Assets Managers Limited) Corporate Identity Number: U67110MH2021PLC362755 Registered Office: Plot 294/3, Edelweiss House, Off. C.S.T. Road, Kalina, Santacruz East, Mumbai - 400098 +91 (22) 4019 4700 | www.anzenenergy.in Axis Trustee Services Limited Catalyst Trusteeship Limited Axis House, P B Marg, Worli, Unit No. 901, 9th Floor, Tower – B, Mumbai – 400025. Peninsula Business Park, Senapati Bapat Marg, Lower Parel (W), Mumbai – 400013. EAAA Real Assets Managers Limited (formerly known as Edelweiss Real Assets Managers Limited) Corporate Identity Number: U67110MH2021PLC362755 Registered Office: Plot 294/3, Edelweiss House, Off. C.S.T. Road, Kalina, Santacruz East, Mumbai - 400098 +91 (22) 4019 4700 | www.anzenenergy.in CA Jayeshkumar Shah Registered Valuer for Securities and Financial Assets Address: B2-601, Kutchi Sarvoday Nagar, Nr. Assisi Nagar, P L Lokhande Marg, Chembur, Mumbai – 400 043 IBBI ReG No:- IBBI/RV/07/2020/13066 GST No. 27BOPPS7411R1ZW 3rd August 2026 Anzen India Energy Yield Plus Trust (acting through Axis Trustee Services Limited [in its capacity as “the Trustee” of the Trust]) Plot 294/3, Edelweiss House, Off CST Road, Kalina, Santacruz (E), Mumbai - 400 098, Maharashtra, India EAAA Real Assets Managers Limited (acting as the Investment Manager to Anzen India Energy Yield Plus Trust) Plot 294/3, Edelweiss House, Off CST Road, Kalina, Santacruz (E), Mumbai - 400 098, Maharashtra, India. Sub: Enterprise Valuation as per SEBI (Infrastructure Investment Trusts) Regulations, 2014, as amended (“the SEBI InvIT Regulations”) Dear Sir(s)/Madam(s), In accordance with instructions of EAAA Real Assets Managers Limited (“ERAML” or “the Investment Manager” or “Client” or “you” or), I, Mr. Jayeshkumar Shah (“Registered Valuer” or “RV” or “I” or “My” or “Me”), holding IBBI registration number IBBI/RV/07/2020/13066 have performed the work set out in our Engagement Agreement dated 27th March 2026 and as amended on 15th June 2026 (“Engagement Agreement”). I have conducted the Fair enterprise valuation of the special purpose vehicles(“SPVs”), as required by the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended (“SEBI InvIT Regulations”). The Investment Manager, ERAML, manages Anzen India Energy Yield Plus Trust (“Trust”) , an infrastructure investment trust registered with SEBI on 18th January 2022, under registration number IN/InvIT/21- 22/0020, with Axis Trustee Services Limited acting on behalf of the Trust. Attached is the Report providing my opinion on the fair enterprise value of the SPVs as defined hereinafter on a going concern basis as of 30th June 2026 (“Valuation Date”). Enterprise Value (“EV”) is described as the total value of the equity in a business plus the value of its debt and debt related liabilities, minus any cash or cash equivalents to meet those liabilities. The Report outlines the valuation methodologies used, calculations performed, and the final conclusions. This analysis should be considered in its entirety. Selecting only portions of the analysis or factors without considering all components together may lead to a misleading interpretation of the valuation process. Valuation is a complex process and cannot be accurately captured in a partial or summary form. Isolating individual elements could unduly emphasize particular factors or analyses. The valuation provided by me, as the Registered Valuer (“RV”), along with the valuation conclusion, is included in this Report, which complies with the SEBI InvIT Regulations, as well as the relevant guidelines, circulars, or notifications issued by the Securities and Exchange Board of India (SEBI) time to time. I also draw your attention to the limitation of liability clauses in “Section 7” of this Report, including those related to Limitation and Uncertainty in Valuation. This letter should be read in conjunction with the attached Report. Yours faithfully, CA Jayesh Kumar Shah Registered Valuer IBBI Registration No.: IBBI/RV/07/2020/13066 Asset Class: Securities or Financial Assets Place: Mumbai UDIN: 26147216PWWWLG1065 Table of Contents Section Particulars Page No. 1 Executive Summary 3 2 Overview of the Industry 10 3 Overview of the InvIT & the SPVs 19 4 Valuation Methodology 38 5 Procedures adopted for Valuation and Key Assumptions 40 6 Valuation Conclusion 48 7 Exclusion & Limitations 50 Appendices 8 Appendix 1: Brief about Registered Valuer 54 9 Appendix 2: Valuation of SPVs as on 30th June 2026 55 10 Appendix 3: Calculation of Beta 71 11 Appendix 4: Weighted Average Cost of Capital of the SPVs 74 12 Appendix 5: Capex Projections 75 12 Appendix 6: Site Visits 76 13 Appendix 7: Sources of Information 94 14 Appendix 8: Additional procedures for compliance with InvIT Regulations 95 15 Appendix 9: Statement of Assets 97 16 Appendix 10: Breakup of Operating Expenses 98 17 Appendix 11: WACC for Previous Valuations 99 17 Appendix 12: WACC Sensitivity 100 18 Appendix 13: Disclosures of Interest of InvIT 102 18 Appendix 14: Summary of Ongoing Litigation & Arbitration Matters 103 19 Appendix 15: Summary of Tax Notices 130 20 Appendix 16: Summary of License and approvals 138 21 Appendix 17: CERC Order details for Transmission SPVs 148 Page 2 of 148 Executive Summary Background of the Trust Anzen India Energy Yield Plus Trust ("the Trust" or "InvIT") was established as an irrevocable trust on 1st November, 2021 under the provisions of the Indian Trusts Act, 1882. It is registered as an Indian Infrastructure Investment trust with the Securities and Exchange Board of India ("SEBI") since 18th January 2022, under registration number IN/InvIT/21-22/0020, in accordance with the SEBI (Infrastructure Investment Trusts) Regulations, 2014, as amended. The Trust primarily invests in energy infrastructure assets, focusing on the transmission and solar power generation sector in India. All transmission and solar power generation projects within the Trust’s portfolio are held through special purpose vehicles. Currently, the InvIT owns, operates, and maintains 3 transmission SPVs and 13 solar SPVs across various Indian states. The objective of the Trust is to undertake activities as an infrastructure investment trust in accordance with the provisions of the InvIT Regulations and the Trust Deed. The principal activity of the Trust is to own and invest in power transmission assets and renewable energy assets in India with the objective of producing stable and sustainable distributions to unitholders. The units of the Trust have been listed on the National Stock Exchange of India Limite [Showing first 8,000 characters — download PDF for full document]