The Finance Committee of Adani Ports and Special Economic Zone Limited (the ‘Company’) has approved the issuance of fixed rate senior unsecured notes (the 'Notes') aggregating to USD 750 million and has approved the pricing, tenure and other terms of the Notes. Subject to compliance with applicable laws and regulations and as permitted by the Reserve Bank of India under the guidelines for external commercial borrowings, the Company intends to use the proceeds from this Offering to repay existing indebtedness, for capital expenditures and for general corporate purposes. The Company has received Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB- (Negative) by Fitch for the Notes. Size of the issue: USD 750 million pursuant to Regulation S and Rule 144A of the U.S. Securities Act in two tranches - Tranche-1: USD 300 million due in 2032 Tranche-2: USD 450 million due in 2041. Additionally, they are pleased to inform that the Finance Committee of the Company in relation to the issuance of the Notes has approved the drafts of (i) the subscription agreement (the "Subscription Agreement") between the Company, as issuer, and Axis Bank Limited, Singapore Branch, Barclays Bank PLC, Citigroup Global Markets Limited, DBS Bank Ltd., Emirates NBD Bank PJSC, J.P. Morgan Securities plc, Merrill Lynch (Singapore) Pte. Ltd., Mizuho Securities (Singapore) Pte. Ltd., MUFG Securities Asia Limited Singapore Branch, SMBC Nikko Securities (Hong Kong) Limited and Standard Chartered Bank, as managers (together, the "Managers"), placed before the Committee (a copy of which was duly initialed by the Chairman for the purpose of identification); (ii) the trust deeds (the "Trust Deeds") between the Company, as issuer, and The Bank of New York Mellon, as trustee (the "Trustee"), placed before the Committee (copies of which were duly initialed by the Chairman for the purpose of identification); and (iii) the agency agreements (the "Agency Agreements") between the Company, as issuer, the Trustee and the agents named therein, placed before the Committee (a copy of which was duly initialed by the Chairman for the purpose of identification). Tenure of the instrument – date of allotment and date of maturity: Tranche-1 Settlement date ­ August 2, 2021 Maturity date ­ February 2, 2032. Tranche-2: Settlement date ­ August 2, 2021, Maturity date ­ August 2, 2041. Tranche-1: Interest on the Notes is payable at 3.828% per annum, payable semi-annually on February 2 and August 2 of each year, commencing from February 2, 2022. Tranche-2: Interest on the Notes is payable at 5.00% per annum, payable semi-annually on February 2 and August 2 of each year, commencing from February 2, 2022. Default in payment of principal of or premium (if any) or interest on any of the Notes when due is an Event of Default under the Notes, unless (a) such failure to pay is caused by administrative or technical error; and (b) payment is made within seven days of its due date in the case of principal and within fourteen days of its due date in the case of interest.