General Updates

August 28, 2026 BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544008 SYMBOL: MAXESTATES Sub: Presentation Dear Sir/Madam, Please find enclosed a copy of the Presentation titled “Delhi Land Acquisition, ~84.71-acre Delhi land bank acquired for equity (non-cash)”, providing an update on the said business transaction. The same shall also be available on the website of the Company www.maxestates.in. You are requested to take the aforesaid on record. Yours faithfully, For Max Estates Limited Abhishek Mishra Company Secretary & Compliance Officer Encl: a/a Max Estates Limited Corporate Office: Max Towers, L-20, C-001/A/1, Sector-16B, Noida-201301, Uttar Pradesh, India, | P: +91 120-4743222 Regd Office: Max House 1, Dr. Jha Marg, Okhla Phase 3, Opposite Okhla Railway Station, Okhla Industrial Estate, New Delhi-110020, India Email : secretarial@maxestates.in | Website : www.maxestates.in | CIN: L70200DL2016PLC438718 Delhi Land Acquisition A ~84.71-acre Delhi land bank acquired for equity (non-cash) *subject to shareholders and regulatory approvals ~84.71 acres ~₹10,000-12,000 Cr ~₹4.95 Cr/acre Nil Land accruing to Max Estates Estimated GDV Land value Cash consideration STRATEGIC RATIONALE A scarce Delhi land bank that adds to current presence in Noida–Gurugram Business Rationale ~84.71 acres Current - residential pipeline of INR 16,150 Cr of GDV from Q2FY27 Targeting for next phase of growth in presales and pipeline, a trajectory that requires continuous replenishment of developable land in a market where large, contiguous parcels are increasingly scarce. First residential land bank inside the NCT of Delhi The subject land is subject to land development This transaction adds ~84.71acres and a multi-year pipeline in a single step —without deploying any of Max under the aegis of the Delhi Master Plan 2047. Estates's existing cash. MICRO-MARKET West Delhi WHY NOW —INFRASTRUCTURE HAS ARRIVED AHEAD OF THE LAND ESTIMATED GDV Driver Status ~₹10,000 – 12,000Cr* over next few years Commissioned Aug 2025 connecting Alipur to Mahipalpur via Urban Extension Road-II (UER-II) Mundka, Bakkarwala, Najafgarh and Dwarka CONSIDERATION ~₹420.2Cr, 100% in Max Estatesequity Dwarka Expressway (Delhi section) Commissioned Aug 2025 —links Dwarka, Gurugram border, IGI STRUCTURE Delhi Metro Grey Line Operational 9land-owning companies → wholly-owned DDA land pooling, Master Plan 2047 Consortium formation underway in adjoining sub-sectors subsidiaries Dwarka sub-city / IGI catchment Established social infrastructure and employment base adjacent Noida and Gurugram are core markets today. Delhi has been the missing geography —and large, contiguous, infrastructure-served parcels inside the NCT are among the scarcest assets in the region. * The subject land is subject to land development under the aegis of the Delhi Master Plan 2047. ENTRY ECONOMICS At ~₹1,000 per sq ft, land is < 5 % of GDV against typical 20–25% GDV ~84.71 acres × FAR 2.0 4 - 6 mn sq ft ~ ₹1,000 / sq ft Land accruing to Max Estates Applicable planning parameter Developable area* Land cost per sq ft subject to approvals and regulations PRE AND POST SHAREHOLDING PATTERN Illustrative land economics Value Preferential allotment to promoters at INR 597.50 per share Consideration (non-cash, in Max Estatesequity) ~₹420.2Cr Shareholding Pre Post Land value per acre ~₹4.95Cr Promoter and promoter group 45.3% 47.1% Implied cost per sq ft (FAR 2.0) ~ ₹1,000 New York Life 20.4% 19.6% Land as % of GDV, vs management < 5% GDV ~₹10,000 - 12,000 Cr* Public 34.3% 33.3% Indicative industry benchmark 20–25% Total ~70 lakhs shares to be issued at INR 597.50 per share (at a premium to SEBI formula) * The subject land is subject to land development under the aegis of the Delhi Master Plan 2047. VALUE CREATION & GOVERNANCE Land bank added without cash outflow, under a multi-layer independent valuation process Two independent land Independent valuation Share-exchange ratio Fairness opinion Audit Committee → Board valuations › › › › Cushman & Wakefield · iVAS Big Four accounting firm Big Four accounting firm Motilal Oswal —SEBI Cat. I → Members (EGM) → BSE/NSE Partners KPMG Valuation Services LLP KPMG Valuation Services LLP Merchant Banker HOW VALUE IS CREATED FOR SHAREHOLDERS THE “TRUNK & BRANCH” MODEL Land bank: ~84.71acres added in one transaction, with an estimated GDV of TRUNK ~₹10,000-12,000Cr*. to be developed over next few years At ~84.71 acres, the land parcel is more than a single project — it is large enough to Pipeline: scale permits phased launches and a master-planned ecosystem with be developed in phases over a multi-year horizon, this is one large, low-cost land social infrastructure, rather than a single project. which could act as a long-duration anchor (a “Trunk”) that is developed across successive launches over multiple years Entry economics and capital efficiency: land at < 5% of GDV against a 20–25% norm, settled entirely in equity —no cash leaves the balance sheet. BRANCH Complemented by smaller, faster-turn projects (for this pipeline WHERE THE PRESERVED CASH REMAINS DEPLOYABLE is already available with an aspiration to add 2 million sqft each Other land opportunities across Noida, Gurugram and new markets remain under parallel year) evaluation. Max Estatesadds a strategic Delhi land bank while preserving cash and balance-sheet flexibility to continue pursuing other land opportunities in parallel. * The subject land is subject to land development under the aegis of the Delhi Master Plan 2047. Thank you MAX ESTATES LIMITED L-20, Max Towers, Sector –16B, DND Flyway, Noida, Uttar Pradesh -201 301 Tel: +91 120 4743200 | www.maxestates.in CIN no. L70200DL2016PLC438718