DISCLAIMER

YOU MUST READ THE FOLLOWING DISCLAIMER BEFORE CONTINUING. THESE MATERIALS ARE BEING MADE AVAILABLE ON THIS WEBSITE TO COMPLY WITH SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) REGULATIONS, 2014, AS AMENDED OR OTHER APPLICABLE LAWS OF INDIA AND OTHER JURISDICTIONS. IMPORTANT: You must read and agree with the terms and conditions of the following disclaimer before continuing. The following disclaimer applies to the Preliminary Placement Document of the National Highways Infrastructure Trust ("NHAI InvIT" or “Issuer”) dated March 19, 2026 (the "Preliminary Placement Document") filed with the BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE" and together with BSE, the "Stock Exchanges") and hosted on this website. These materials are being made available in connection with the proposed institutional placement by NHAI InvIT, to eligible investors in accordance with applicable laws. This Issue is being made to eligible investors in reliance upon chapter on “Guidelines for preferential issue and institutional placement of units by listed InvITs” of the Master Circular for Infrastructure Investment Trusts (InvITs) dated July 11, 2025, as amended from time to time, issued by the Securities and Exchange Board of India (the “SEBI Institutional Placement Guidelines”) read with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, together with any amendments, notifications, clarifications, circulars and guidelines issued thereunder (the “InvIT Regulations”) and other applicable laws.