The Phoenix Mills Ltd. — Capital/Financing Update 2020

Aug 21, 2020

.. t� THE PHOENIX MILLS LIMITED ,,.,.

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Corp. Office : Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel : (022) 3001 6600 Fax: (022) 3001 6601 CIN No.: L17100MH1905PLC000200

Date: August 21, 2020

BSE Limited The National Stock Exchange of India Corporate Relations Department Limited Pheroze Jeejeebhoy Towers, Listing Department Dalal Street, Exchange Plaza, Mumbai - 400001. Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051.

Security Code: 503100

Symbol: PHOENIXLTD

Dear Madam/Sir,

• Sub: Qualified institutions placement of equity shares of face value f 2 (the "Equity Share(s)") by The Phoenix Mills Limited (the "Company") under the provisions of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"), and Sections 42 and 62 of the Companies Act, 2013 (including the rules made thereunder), as amended (the "Issue")

This is in relation to the Issue being undertaken by Company in relation to which the Company has filed a preliminary placement document dated August 18, 2020 ("Preliminary Placement Document") with the BSE Limited and the National Stock Exchange of India Limited.

This notice is being sent to you to draw your attention to the table appearing on page 73 of the Preliminary Placement Document, in the section entitled "Capitalisation Statement", wherein the following line items should be read as follows:

• a) Short term unsecured borrowings as at June 30, 2020 as� 2,511.78 million instead of� 2,271.78 million;

• b) Long term unsecured borrowings as at June 30, 2020 as � 2,960.81 million instead of� 3,200.81 million; and

• c) Debt / Equity ratio as at June 30, 2020 as 1.22 instead of 0.55.

This notice should be read along with the Preliminary Placement Document and the application form. The details wi be updated in the final Placement Document to be filed with the Stock Exchanges.

We request you to please upload this notice on your website.

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Regd. Office: The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Pare!, Mumbai 400 013. •Tel: (022) 2496 4307 / 8 / 9 •Fax: (022) 2493 8388 E-mail : info@thephoenixmills.com • w .thephoenixmills.com

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� t� 1HE PHOENIX MILLS LIMITED ,..,-

Corp. Office : Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel : (022) 3001 6600 Fax : (022) 3001 6601 CIN No.: L 17100MH1905PLC000200

All capitalised terms used in this notice shall, unless the context otherwise require, have the same meaning ascribed in the Preliminary Placement Document.

Thanking you,

For The Phoenix Mills Limited

Gajendra Mewara Company Secretary

Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. • Tel : (022) 2496 4307 / 8 / 9 • Fax: (022) 2493 8388 E-mail : info[@] thephoenixmills.com • www.thephoenixmills.com