Digital Fibre Infrastructure Trust has informed the Exchange regarding Disclosure of material issue

August 11, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001 Security Code: 543859 Symbol: DIGIFIBRE Dear Sirs, Sub: Submission of Valuation Report of InvIT Asset of Digital Fibre Infrastructure Trust (“Trust”) as at June 30, 2026 Pursuant to Regulation 10 and 21 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014, as amended, we are enclosing a copy of the valuation report as at June 30, 2026, as issued by Ernst and Young Merchant Banking Services LLP (IBBI Registration Number IBBI/RV- E/05/2021/155). The said report has been recommended by the Audit Committee and thereby approved by the Board of Directors of Infinite India Investment Management Limited, the Investment Manager of the Trust at its meeting held today i.e. August 11, 2026. The said valuation report is being uploaded on the website of the Trust viz., https://digitalfibreinfrastructure.com/Financial-results.html. We request you to take the above on your record. Thank you. Yours truly, For Infinite India Investment Management Limited (acting in its capacity as an Investment Manager of the Trust) Jayanti Chaurasia Naita Compliance Officer Encl.: as above Axis Trustee Services Limited Ernst & Young Merchant Banking Services LLP Tel: +91 22 61920000 Registered Valuer Fax: +91 22 61920000 Registration No. IBBI/RV-E/05/2021/155 ey.com 14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar West, Mumbai-400 028, India 11 August 2026 Infinite India Investment Management Limited Digital Fibre Infrastructure Trust Attention: Mr. Rajkumar Agarwal Attention: Mr. Rajkumar Agarwal 7th Floor, Cnergy, Acting through its Investment Manager - Infinite Appasaheb Marathe Marg, India Investment Management Limited Prabhadevi, Mumbai - 400 025, 9th Floor, Maker Chamber IV, Maharashtra, India. 222 Nariman Point, Mumbai - 400 021, Maharashtra, India. Re: Enterprise and equity valuation of Jio Digital Fibre Private Limited and valuation of Staggered Loan (as defined hereinafter) and Fixed Rate Loans (as defined hereinafter) given by Digital Fibre Infrastructure Trust to Jio Digital Fibre Private Limited as required by SEBI (Infrastructure Investment Trusts) Regulations, 2014, as amended. Dear Sir / Madam, In accordance with instructions of Digital Fibre Infrastructure Trust (“DFIT” or the “Trust”) and Infinite India Investment Management Limited (“IIIML” or the “Investment Manager”) acting in the capacity of investment manager of DFIT (hereinafter IIIML and DFIT are collectively referred to as “you” or “Clients”), Ernst and Young Merchant Banking Services LLP (“we” or “EY” or “Valuer”) have performed the work set out in our engagement letter dated 11 September 2024 and addendums thereto (hereinafter collectively referred to as the “Engagement Agreement”). We are pleased to present the following report (“Report”) in connection with the enterprise and equity valuation of Jio Digital Fibre Private Limited (“JDFPL” or “SPV” or the “Fibre Co” or the “Company”), Staggered Loan (as defined hereinafter), and Fixed Rate Loans (as defined hereinafter) given by DFIT to JDFPL as at 30 June 2026 (“Valuation Date”). The enterprise and equity valuation of JDFPL, Staggered Loan and Fixed Rate Loans are hereinafter collectively referred to as the “Valuation Subjects”. It may be noted that for carrying out the valuation, we have relied upon information provided by the management of the Clients and JDFPL (the “Management”). We have been given to understand that the information provided is correct and accurate and that the Management was duly authorized to provide us the same. Purpose of our Report and restrictions on its use We understand that Reliance Industrial Investments and Holdings Limited (“RIIHL” or “Sponsor”) is the sponsor of the Trust, Infinite India Investment Management Limited is the Investment Manager and Axis Trustee Services Limited (the “Trustee”) is the trustee to Trust. The Trust is registered with Securities and Exchange Board of India (“SEBI”) as an infrastructure investment trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 and amendments thereto including any circulars and guidelines issued thereunder (“SEBI InvIT Regulations”). Page1 of43 In this regard, valuation of Valuation Subjects is required for disclosure to unit holders and regulatory filings under the SEBI InvIT Regulations and circulars issued thereunder (“Purpose”). The Report was prepared solely for the above Purpose and should not be used or relied upon for any other purpose including for filing with any statutory/regulatory authority other than as specifically mentioned above. The Report and its contents may not be quoted, referred to or shown to any other parties except as provided in the Engagement Agreement. We accept no responsibility or liability to any person other than to the Clients, or to such party to whom we have agreed in writing to accept a duty of care in respect of the Report, and accordingly if such other persons choose to rely upon any of the contents of the Report, they do so at their own risk. Nature and scope of the services The nature and scope of the services, including the basis and limitations, are detailed in the Engagement Agreement. It may be mentioned that the Clients have been provided an opportunity to review factual information in draft Report and confirm with Management as part of standard practice to make sure that factual inaccuracies/omissions/etc. are avoided in final Report. Whilst each part of our Report may address different aspects of the work we have agreed to perform, the entire Report should be read for a full understanding of our findings and advice. Our work commenced on 10 July 2026 and was completed on 10 August 2026. Our Report does not take account of events or circumstances arising after Valuation Date and we have no responsibility to update the Report for such events or circumstances. If you have any questions or require additional information, please do feel free to contact us. Yours faithfully, Parag Mehta Partner Membership No. IBBI/RV/05/2019/11608 Ernst & Young Merchant Banking Services LLP LLPIN: AAO-2287 IBBI Registration No.IBBI/RV-E/05/2021/155 Date: 11 August 2026 Report No. EYMBS/RV/2026-27/077 Page2 of43 Table of Contents I. Executive summary 4 II. Sources of information / major factors that were taken into account during the valuation 9 III. Statement of limiting conditions 10 IV. Industry overview 12 V. Procedures adopted 16 VI. Background of JDFPL 17 VII. Basis and premise of valuation 25 VIII. Valuation methodology - For Enterprise Valuation of JDFPL 26 IX. Valuation analysis - For Enterprise Valuation of JDFPL 27 X. Valuation analysis - For valuation of Staggered Loan 34 XI. Valuation of Fixed Rate Loans and novation consideration receivable from the Trust as per Novation Agreement 35 XII. Valuation analysis - For equity value of JDFPL 36 XIII. Other disclosures as required under SEBI InvIT Regulations 37 XIV.Appendix 40 Page3 of43 I. Executive summary Background and structure Digital Fibre Infrastructure Trust - Trust ► Digital Fibre Infrastructure Trust (“DFIT” or the “Trust”) was settled vide trust deed dated 31 January 2019 with Reliance Industrial Investments and Holdings Limited (“RIIHL” or “Sponsor”) as the settlor as well as the sponsor and Axis Trustee Services Limited (“ATSL” or the “Trustee”) as the trustee. The Trust was subsequently registered as an infrastructure investment trust under the SEBI InvIT Regulations vide registration dated 20 March 2019 bearing the InvIT Registration number IN/InvIT/18- 19/0010. ► Infinite India Investment Management Limited (“IIIML” or “Investment Manager”) was appointed as the investment manager vide Investment Management Agreement dated 31 January 2019 between ATSL and IIML. ► The main objective of the Trust is to carry on the activity of an infrastructure investment trust, as permissible under the Securities and Exchange Board of India [Showing first 8,000 characters — download PDF for full document]