DISCLAIMER

This presentation has been prepared exclusively for information and discussion purposes only and is not, and does not constitute an offer to sell or a solicitation of an offer to buy Units of the proposed Category II Alternative Investment Fund (“SMC IM+ Realty Fund” or “Proposed Fund”). This Presentation does not contain any direct, indirect and/or deemed offer of any securities to the public as such or otherwise and does not constitute or form part of any offer or invitation to subscribe for, underwrite or purchase securities. A private offering of the Units of the Proposed Fund will be made pursuant to a confidential Private Placement Memorandum and the definitive Fund documents, which will be furnished to qualified investors on a confidential basis at their request for their consideration of such offering. The information contained herein is proprietary and for recipient’s internal use only and is qualified in its entirety by reference to the Private Placement Memorandum and the Fund documents. The recipient is provided the information contained herein on a confidential basis which should not be disclosed to third parties or duplicated or used for any purpose other than the purpose for which it is provided. Application/necessary filings have been made to the Securities and Exchange Board of India (SEBI) for registering the SMC IM+ Realty Fund as a Category II Alternative Investment Fund and the private placement of units in the Proposed Fund would be strictly subject to receipt of requisite SEBI approvals.

Nothing in this Presentation is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. The information herein is subject to change without notice. Prospective investors should do their own due diligence and evaluations of the information contained herein. The information contained herein does not purport to contain all of the information that may be required to evaluate the Proposed Fund. Each prospective investor should examine the underlying Fund documents including the confidential private placement memorandum and the contribution agreement and consult its own attorney, business adviser and tax adviser as to legal, business, tax and related matters concerning the information contained therein, before making any investment decision.

Certain information, including financial statements and statistical data, contained in this presentation constitutes “forward-looking statements”. Due to various risks and uncertainties, actual events or results or the actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Except where otherwise indicated herein, the information provided herein is based on matters that exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof.

The parties involved in the preparation of this presentation shall not be liable for the relevance, accuracy or completeness of the information contained herein, and disclaim any and all liability as to the information set forth herein or omissions here from, including, without limitation, any express or implied representation or warranty with respect to such information. The information including facts and figures have been derived from public sources and should be relied upon by the reader at his or her own risk.

For details refer to the Private Placement Memorandum of the Proposed Fund, which can be provided on request.