ROADSTAR INFRA INVT TRUST

Roadstar Infra Investment Trust was established for resolution of operational road projects of IL&FS Group through a fair and transparent process, guided by the new Board of IL&FS, under the Union of India's oversight. Created under a Resolution Framework approved by the National Company Law Appellate Tribunal (NCLAT), the inception addressed outstanding debt while safeguarding the vital road infrastructure assets. By transferring ownership to institutional investors, the Trust built a resilient foundation that supports optimal recovery for creditors and safeguards the long-term value of its assets. Currently, Roadstar Trust manages a diversified network of approximately 685 Km length (3070 lane kilometers) across the 6 Indian states. The portfolio comprises 6 revenue generating road assets, including four toll-based projects and two annuity-based projects. Through this structure, the Trust offers a stable, regulated and investor aligned model for infrastructure asset management and value recovery. Roadstar Infra Private Limited (RIPL) was established in 2020 to act as the Sponsor of the Roadstar Infra Investment Trust. RIPL played a central role in setting up the Trust and overseeing the allocation of units, as required under the Framework. RIML serves as the Investment Manager to the Trust, bringing over 17 years of expertise in operating road infrastructure projects under annuity-based concessions. The Project Manager oversees a road network spanning 685 km, encompassing 10 toll plazas and 108 toll lanes. The formation of the Trust was proposed by the IL&FS Group and approved by the Hon'ble National Company Law Appellate Tribunal. The formation of the Trust and transfer of select operational road projects and consequent listing and distribution of units to eligible creditors paved the way for resolution of creditor dues through distribution of units. Roadstar Trust owns, operates and invests in infrastructure projects that enhances road transportation connectivity and drives economic growth in the country. The Trust concentrate on vital transit routes serving as essential links for regional and national developments. Registered under the InvIT Regulations, the Trust manage a portfolio of 6 operational road projects across several states. These assets form part of critical road corridors and are integral to facilitating transportation and strengthen India's infrastructure a head of that. With 6 mature assets now consolidated within the Trust, Roadstar Infra has evolved from a resolution-orientated platform to a stable, professionally managed entity that offers long-term growth potential. This portfolio works 4 toll and 2 annuity-based projects across six Indian states, covering over 685 Kms. With aggregate assets under management valued at around Rs 84.9 billion, the Trust focused on growth in stakeholder value. The Trust acquired 243,500,000 Equity Shares representing 100% of the equity stake of Barwa Adda Expressway Limited (BAEL) in October, 2024. In FY 2025, toll collections in all 4 toll projects of the Trust aggregated to Rs 962.8 Crore, while annuity inflows amounted to Rs 152 Crore. During the year 2025, overall 455,477,143 Units of face value Rs 100/- each were distributed under the Unit Distribution out of which, 35,50,00,000 units were distributed to the relevant eligible creditors of IL&FS Group companies. 68,806,097 units were distributed to the Sponsor.