Allcargo Logistics Ltd — Capital/Financing Update 2023

Feb 2, 2023

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To,Listing Compliance and Legal RegulatoryBSE LimitedPhiroze Jeejeebhoy Towers,Dalal Street, Fort,Mumbai-400 001**BSE Scrip Code:**532749	To,Listing and ComplianceNational Stock Exchange of India LimitedExchange Plaza, C-1, Block GBandra Kurla ComplexBandra (East), Mumbai - 400 051**NSE Symbol:**ALLCARGO

Date: February 02, 2023

Dear Sir/ Madam,

Subject: Submission of Press Release under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “ Listing Regulations ”), we are enclosing herewith the press release on sale of shares of Venkatapura Logistics and Industrial Parks Private Limited and Malur Logistics and Industrial Parks Private Limited, Wholly Owned Subsidiaries of the Company to BRE Asia Urban Holdings Ltd., dated February 02, 2023.

The same is also made available on the website of the Company i.e. www.allcargologistics.com.

Kindly take the above on record.

Thanking you,

Yours faithfully,

For Allcargo Logistics Limited

DEVANAND Digitally signed by DEVANAND PARSHOTTAM PARSHOTTAM MOJIDRA Date: 2023.02.02 16:09:07 MOJIDRA +05'30' Devanand Mojidra Company Secretary & Compliance Officer

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Encl: a/a

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Allcargo Logistics Limited, 6[th] Floor, Allcargo House, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS

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Allcargo Signs SPA for Logistics Parks Deal, completes deleveraging plan

The company turns cash positive on consolidated net debt, as a result of this transaction

Mumbai 2[nd] , February 2023: Allcargo Logistics Ltd, (BSE: 532749) (NSE: ALLCARGO), an Allcargo Group company, an India‐born global logistics conglomerate, has announced the conclusion of its sale of a part of its logistics parks portfolio to global private equity investor Blackstone Group (“Blackstone”) (NYSE:BX). This is in line with the agreement signed earlier, which has now been consummated with signing of Share Purchase Agreement (SPA). Allcargo will have cash infusion, conversion of OCDs and eliminate debt for transferred entity creating an impact of over ₹400 cr on the net debt. With the closure of the transaction, Allcargo’s consolidated net debt will fall below zero and company becomes cash positive. This closure also aligns with the company’s corporate strategy of being an asset‐light organization at Allcargo Logistics level and will enhance the returns on capital employed. Additionally, credit ratings agency CRISIL has accredited Allcargo in its CRISIL A1 category with double A stable ratings as well as double A minus ratings watch with developing implications for its long term facilities and A1 Category positive ratings for its short term facilities thereby incrementally improving the long‐term financial standing of the company.

Blackstone will own 90% of these logistics parks and 10% will continue to be with Allcargo Logistics and will get demerged into TransIndia Realty under the ongoing scheme of demerger. Allcargo has built 5.5 million square feet of Grade A logistics parks across the National Capital Region (NCR) Delhi, Bengaluru, Hyderabad and JNPT in MMR (Mumbai). The assets in Bengaluru and Hyderabad along with the parks in Goa will get transferred under this transaction, while NCR, Hosur and MMR region will continue with the company. Post demerger, the new real estate company also has projects in the planning stage for another approx. 8.6 million square feet, which shall be pursued in the new entity on its own balance sheet.

“The agreement with Blackstone is an exemplary milestone for us at Allcargo as it brings closure to a well‐ planned strategic initiative and demonstrates our commitment towards stakeholders, especially on the successful completion of marquee warehouses, leased to top tier customers. We will continue to move forward with our broader strategic mandate of being an asset‐light digital company with huge potential to grow in India as well as globally at Allcargo Level, while real estate business shall find new vision and progress under the soon‐to‐be demerged entity ‘TransIndia Realty’”, said Mr. Shashi Kiran Shetty, Founder and Chairman of Allcargo Group.

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ABOUT ALLCARGO LOGISTICS LTD.

Allcargo Logistics Limited, part of The Allcargo Group, is a global leader in multimodal logistics solutions. It’s wholly owned subsidiary Allcargo Belgium NV., Operating ECU Worldwide network, is a global market leader in ocean freight consolidation. Allcargo is the market leader in Container Freight Station business in India and is among the leaders in express logistics through subsidiary Gati Ltd., besides having strong presence in Contract Logistics and other businesses. Allcargo is recognised for digitising logistics industry, setting highest quality standards, operational excellence, and customer centricity across all businesses. The company is recognized as a great place to work.

The company currently operates out of 300 plus offices serving 180 countries. Allcargo today is one of India's largest publicly owned logistics companies, listed on the BSE Limited {Scrip Code‐ 532749) and The National Stock Exchange of India Limited (Scrip Code‐ALLCARGO).

For further information, contact : Pooja Singh pooja.singh@allcargologistics.com