Adani Ports and Special Economic Zone Limited Announces Expiration and Results of its Cash Tender Offer for Any and All of its US$650,000,000 3.50% Senior Notes due 2020

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AHMEDABAD, India, July 24, 2019  Adani Ports and Special Economic Zone Limited today announced the expiration and results of its previously announced tender offer to purchase for cash (the “Tender Offer”) any and all of its outstanding US$650,000,000 3.50% Senior Notes due 2020 (the “Notes”).

The Tender Offer expired at 5:00 p.m., New York time, on 24 July 2019 (the “Expiration Time”). At the Expiration Time, valid tenders had been received with respect to US$280,812,000 of the Notes. The Company did not receive any instructions for tenders pursuant to the guaranteed delivery procedures described in the Tender Offer Memorandum dated 16 July 2019.

The Company has accepted for payment all of the Notes validly tendered prior to the Expiration Time. Such tendering Noteholders will receive the purchase price in the amount of US$1,009.50 per US$1,000 principal amount of the Notes tendered and accepted for purchase, plus accrued and unpaid interest to, but not including, the settlement date, which is 25 July 2019.

The Company will arrange for cancellation of all Notes validly tendered and accepted for purchase following purchase by the Company, and any Notes not validly tendered will remain outstanding and accrue interest in accordance with their terms. Following the cancellation of validly tendered Notes, US$369,188,000 of the Notes will remain outstanding.

Subject to market conditions and obtaining all relevant government and other approvals, the Company may choose to exercise its right to optionally redeem, on or about 23 August 2019, any Notes not purchased by the Company in the Tender Offer, at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, plus an applicable “make-whole” premium, pursuant to the terms of the Trust Deed. The Company will calculate the amount of the applicable “make-whole” premium five business days prior to the redemption date and notify the Noteholders promptly thereafter. This announcement does not constitute a notice of redemption under the optional redemption provisions of the Trust Deed.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, and are subject to the safe harbor created thereby. Actual results may differ materially from these statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expect”, “intend”, “may”, “will”, or other words or phrases of similar import but these are not the exclusive means of identifying these statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, such expectations might not prove to be correct. Statements in this press release speak only as of the date of this press release, and the Company disclaims any responsibility to update or revise such statements.

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