The Phoenix Mills Ltd. — Capital/Financing Update 2020

Aug 21, 2020

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 Limited Corporate Relations Department Listing Department Pheroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Plot No. C/1, G Block, Mumbai – 400001. 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 of ₹ 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”)

Further to our letter dated August 18, 2020 intimating you about the meeting of the capital raising committee of the board of directors (“Capital Raising Committee”) to be held on August 21, 2020 in respect of the Issue, we wish to inform you that the Capital Raising Committee at its meeting held today i.e. August 21, 2020 has, inter alia, passed the following resolutions:

• a. Approved the closure of the Issue today August 21, 2020;

• b. Determined and approved the Issue price of ₹ 605 per Equity Share (including a premium of ₹ 603 per Equity Share) which is at a discount of ₹ 6.31 per Equity Share i.e. 1.03% to the floor price of ₹ 611.31 per Equity Share, in accordance with the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue; and

• c. Approved the confirmation of allocation note to be sent to the eligible qualified institutional buyers pursuant to the Issue.

The Issue was opened on August 18, 2020 and the same was intimated to you vide our letter dated August 18, 2020.

The meeting of the Capital Raising Committee commenced at 5.00 p.m. and concluded at 7.15 p.m.

We request you to kindly take this on record, and the same be treated as compliance under the applicable regulations of the Securities and Exchange Board of India (Listing Obligations Disclosure Requirements) Regulations, 2015, as amended.

Thanking you,

For The Phoenix Mills Limited

Gajendra Digitally signed by Gajendra Mewara Mewara Date: 2020.08.21 19:33:07 +05'30' 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