Submission of Security Cover Certificate for the period ended on March 31, 2026

IndiGrid Infrastructure Trust has submitted its security cover certificate for Q4 FY2026 (period ended March 31, 2026), verified by statutory auditor SR BC & CO LLP. The Trust has maintained the required 100% security cover for its secured redeemable listed non-convertible debentures (NCDs) and term loans. Total secured debt outstanding stands at approximately Rs 2,08,859 million (Rs 1,48,771 million in NCDs + Rs 59,327 million in bank term loans + Rs 761 million interest accrued). Pari-passu security cover stands at 1.49x on book value (Rs 3,12,010 million in assets) and 1.60x on market value (Rs 3,33,330 million), both comfortably above the 1.0x required threshold. The Trust's security is primarily backed by pledged equity/preference shares and CCDs/NCDs in 40 subsidiary SPVs (transmission and solar assets), valued by an independent valuer. All financial covenants including Net Debt/EBITDA ratio and Debt Service Coverage Ratio have been certified compliant. No covenant breaches were reported by the Debenture Trustee.