Delivering Positive Outcomes to our Stakeholders

1. Delivering Positive Outcomes to our Stakeholders What the state of Madhya Pradesh missed all along was a high-fashion and one-stop destination experience. With Phoenix Citadel rising in the city of Indore, high-end shopping gets a new address. The destination mall has thrown open an unparalleled one-stop shopping and entertainment experience in a modern, highly-pleasing environment, delivering positive outcomes to all stakeholders. Phoenix Citadel, the newly launched mall at Indore in Madhya Pradesh, reflects shopping in a large-scale consumption centre offering high-fashion brands and a one-stop shopping destination with diverse F&B options and exceptional entertainment preferences. The mall is a destination where people congregate not only to shop from high-fashion designer stores. At Phoenix Citadel, you can get a bite at the snack bar or candy store, or shop for groceries at the supermarket, while your kids work up an appetite at the family entertainment centre that has TimeZone or FunCity. The impact that Phoenix Citadel is already having on the state of Madhya Pradesh is truly sublime and fantastic. The destination mall offers a well-balanced, incredible and comprehensive one-stop shopping, food and leisure experience to locals, presenting an enchanting hub. The mall remains committed to intensive urban activity where the city's shoppers gain new experiences, new surprises, a change of pace and a change of ambience. Phoenix Citadel is truly a mall delivering positive outcomes to all its stakeholders on a long- term basis. Whether they are consumers, retailers, communities, the environment or the nation. Our insights help us understand what motivates each of these stakeholders to visit the malls, stay longer and return more often. Consumption across all the categories continued its upward trajectory, a testament to the leadership position of Phoenix Group’s retail destinations, with 6.0 million sq. ft. spread across 9 malls in 6 gateway cities in India. Apparels, Fashion, Hypermarkets and Department Stores have registered growth since the mall’s operations started in December 2022, largely driven by new-store openings and strong same-store-sales growth across the category. Trading density, which is consumption per square feet of carpet area, also increased. How we Benefit all our Stakeholders The Nation Consumption is one of the key themes driving a vibrant economy like India and making it resilient to economic cycles. The geographic pattern of India’s income and consumption growth is fast shifting. The high-fashion market is taking aspirational spending to its natural conclusion, while discretionary spending is also rising by leaps and bounds.

2. Rising Consumption in India Following the period of upheaval post-COVID, India’s retail malls are witnessing an accelerated rebound in footfalls, conversion into revenue and higher occupancy levels. According to a BCG-RAI report titled ‘Racing towards the next wave of Retail in India’, the retail industry in India is on an upswing and is set to record an annual growth of 10% to reach approximately US$ 2 trillion by 2032, contributing the most to the Indian economy. From shopping to F&B and entertainment, health and wellness to gaming, malls deliver fulfil customers’ demands and deliver engaging and seamless experiences. There is faster witnessed in growth in the disposable incomes of people in Tier 2 & 3 cities. Consumers in these cities have an inclination of buying branded and aspirational products. Several brands going ahead with brand establishment or expansion are opting for high-end malls in smaller cities to draw consumers’ interest. Consumers One of the biggest malls in Madhya Pradesh, Phoenix Citadel offers a fresh, exciting experience with immense visual appeal created by bright, high-ceilinged and modern and well-designed shop fronts. Launched in December 2022, Phoenix Citadel is an upmarket shopping destination marking the convergence of shopping, dining, entertainment, art, architecture and design. A leasable area of approximately 1.0 Mn sq. ft. with internationally acclaimed design, the mall houses 300-plus stores, 75+ Dining Options, a spacious food court and a multi-level car park and 100+ brands coming for the first time in Indore. Communities Phoenix Citadel builds the hearts of urban communities by providing spaces for local engagement and is a meeting point for local residents. With entertainment, dining and events, the mall is a place for much more than just shopping. We live by our mission of extending the benefits of economic prosperity and attaining inclusive growth. Our long-term motto is to build a sustainable life for the under-privileged sections of the society and make lives better. A Mall with a Soul Phoenix Citadel is a mall with a soul. A walk through its corridors is a soothing experience. The mall has redrawn the landscape of arriviste new Indore. With shopping preferences becoming more diverse today, customers are seeking authenticity and a deeper sense of connection to their daily lives. Outdoor lovers absolutely adore the architecturally exquisite mall, especially the themed retail streets of Via Venice, Via Tuscany and Via Bologna areas of Italy, exhibiting unique and attractive design elements. The customers are entertained with

3. a house full of services and unique entertainment experiences. Sienna Piazza, the courtyard, is a landmark section of the mall with a great mix of action, airing of music festivals, video art, and state-of-the-art special effects offering a unique platform to leading cultural artists. Environment At Phoenix Citadel, sustainability is all about resource efficiency and improving the way our business is being operated. It is about using environmentally responsible products and managing their environmental impact. We conduct our operations in a manner that is ethical, transparent, proactive and sensitive to all the stakeholders. Our sustainability framework provides strategic direction for our key focus areas. Environment protection and judicious resource management are our key motto, and eco- sensitivity is an integral part of our corporate responsibility. We operate in compliance with all regulatory requirements and follow green practices. Understanding that a green building ensures a healthy environment representing the optimum use of land, water, energy and sources, we make effective use of cost-efficient green technologies and environment friendly spaces, validating our intent towards futuristic trends. Key initiatives: Installed LED-based lights at the mall, aimed at lessening energy consumption. Aiming at optimum water utilisation at the asset. Sewage water is recycled and used for gardening and cleaning purposes. Undertaken regular maintenance of cooling tower water and chillers and maintain water quality through routine descaling. Phoenix Citadel is a Silver LEED-certified mall in building design and construction. It remains committed to preserve most of the natural environment and build a healthy and sustainable future. Moving forward, we will continue to focus on further improving the mall’s performance in the areas of health, safety and environment. An ESH Team (Environment, Safety and Health) provides a key direction towards sustainable living, including monitoring of carbon emissions. By integrating sustainability measures into our daily operations, we aim to do more than expected to achieve sustainable development. To know more: https://www.phoenixcitadel.in/blogs/delivering-positive-outcomes- to-our-stakeholders