Altius Telecom Infrastructure Trust · BSE:ALTIUSINVIT
Altius Telecom Infrastructure Trust — Investor Presentation (February 2026)
29 slides from Altius Telecom Infrastructure Trust's investor presentation, February 2026
Slide 1: Investor Presentation February 2026
Investor Presentation February 2026
Slide 2: Disclaimer
Disclaimer By reading this presentation (the “Presentation”), you agree to be bound by the following limitations: This Presentation is for information purposes only without regard to specific objectives, financial situations or needs of any particular person, and should not be disclosed, reproduced,
Slide 3: Who We Are
1. Who We Are
Slide 4: Largest Independent, Institutionally Backed Telecom Infrastructure Platform in India
Largest Independent, Institutionally Backed Telecom Infrastructure Platform in India 1 SEBI Registered InvIT Backed by Marquee Investors 257k+ (Sponsor) Others5 Pan-India Towers, IBS2 & Small Cell Sites Investment Manager Trustee Data Link Investment Managers Pvt Ltd 314k+ Axis Trustee Services Ltd
Slide 5: Our Massive Pan-India Presence – 257k+ Towers, IBS and Small Cells
Our Massive Pan-India Presence – 257k+ Towers, IBS and Small Cells Geographic Presence of Altius Sites 257k+ Total Telecom Sites (# Of Sites By Circle) Presence Across All 22 Telecom Circles GBTs1 Rooftop Towers & Poles GBMs2 J&K Overall Teledensity (All India – 87%) 163k 58k 19k 95% # of Sites # of
Slide 6: Our Growth Story
Our OurGrowth GrowthStory Story Telecom Sites Tenancies Sep 2024 Acquisition of 100% Stake 2020 2025 2020 2025 in ATC3 India, Renamed As Elevar Digitel 136k1 257k+2 136k1 314k+2 Sep 2023 Acquired Additional 39k Towers from Jio During Aug 2020 - Sep 2023 Mar 2025 One “Altius” Aug 2020 Integration Com
Slide 7: Our Scaled Presence Across Towers and Tenancies
Our Scaled Presence Across Towers and Tenancies Market Share by Towers (in ‘000s) Market Share by Tenancies (in ‘000s) Market Share % Market Share % 257+ 39% 314+ 35% Indus Towers1 274 42% Indus Towers1 436 49% BSNL2 68 10% BSNL2 81 9% Ascend3 19 3% Ascend3 31 3% GTL GTL 22 3% 22 2% Infrastructure4
Slide 8: India Telecom Infrastructure – Multi-Decade Organic Growth Tailwinds
2. India Telecom Infrastructure – Multi-Decade Organic Growth Tailwinds
Slide 9: India has Decades-Long Mobile Growth Ahead
India has Decades-Long Mobile Growth Ahead Fast-Growing and Young Economy Growing Digitalization Real GDP Per Capita Growth (CY 25-30E CAGR - %)1 Affordable Data Smartphone Proliferation 6% Fastest Growing Data Prices India Smartphone Penetration Major Economy (Q2 FY 26 – per GB) (%) ~₹151 4% (~US$
Slide 10: Data Consumption is Growing Exponentially in India
Data Consumption is Growing Exponentially in India Indian Data Consumption1 Indian Smartphone Base2 Indian Mobile Subscription Mix3 Digital Economy Size4 (GB per month per user) (mn) (%) (% of GDP, $) 4% $529bn ~$1.25tn 53 1.3x 1,111 24% 31% 2.1x 1% 19% 609mn 878 FY 20 46% 12% 13% FY 23 10 GB 25 FY
Slide 11: Telecom Operators are Investing to Meet the Demand
Telecom Operators are Investing to Meet the Demand Vi: Strategic Updates ✓ ~INR 877bn dues frozen with staggered payouts till 2041 India Tenancy Growth To Remain Robust1 ✓ 10-year relaxation on AGR liabilities has (in ‘000s) removed long-standing uncertainty "Vi will invest INR 45k Cr in Capex Relia
Slide 12: Our Business Strengths
2) <= _ (o7) i= ® Som _ ” 2) ) cd) £ 2) =) a t= =) Oo 3. Altius
Slide 13: Summary of Our Business Strengths
Summary of Our Business Strengths ✓✓✓ ✓✓✓ ✓✓✓ 1 2 ✓✓✓ 3 4 5 6 Long Term ✓✓✓ Distribution Growth Potential Sound Financial Uniquely Experienced Contracted Cash Track Record Driven by both Position and Well Positioned to Management and Flows with ✓✓✓ Organic and Capitalized Optimize Board Downside Ino
Slide 14: Long Term Contracted Cash Flows with Downside Protection
1 Long Term Contracted Cash Flows with Downside Protection Down-side Protection with Fixed Contracted Revenue Tenancy Share (%) Locked in for up to ✓ High visibility of revenues due to long term MSAs4 10 years1 ✓ Perpetual nature of telecom tower business model5 314k+ Strong downside protection give
Slide 15: Consistent Distribution Payment Track Record
2 Consistent Distribution Payment Track Record Distribution Track Record Total Distributions 10.3 21.8 30.6 46.8 57.5 47.73 (INR Bn) Distribution Per Unit (INR) 19.6 18.0 15.6 11.7 8.6 4.1 3 FY 21¹ FY 22 FY 23 FY 24 2 FY 25¹, 2 FY 26 94%+ of NDCF has been Distributed on Quarterly Basis Note: 1. FY 2
Slide 16: Growth Driven by Organic and Inorganic Opportunities
3 Growth Driven by Organic and Inorganic Opportunities Adjusted Revenue1 and Cash EBITDA2 (in INR Bn) 28% Adjusted Revenue 23% Cash EBITDA FY 21-25 CAGR 98 92 70 64 62 54 48 44 42 36 35 30 FY 21 FY 22 FY 23 FY 24 FY 25 9M FY 26 3 3 Adjusted Revenue Cash EBITDA Note: Data has been rounded off to the
Slide 17: Multiple Levers of Growth for Future Expansion
3 Multiple Levers of Growth for Future Expansion INORGANIC GROWTH INCREASING POPS2 BUILT-IN CONTRACTUAL ESCALATIONS Upcoming Rollouts Benefit From Consolidation MNOs3 are expected to add 365k+ macro tenancies by FY 31 and expand Pursue opportunistic M&A opportunities presence in semi-rural and rural
Slide 18: Highly Resilient Financial Position – Uniquely Positioned for Growth and Yield
4 Highly Resilient Financial Position – Uniquely Positioned for Growth and Yield Net Debt / AUM at Resilient AAA / Stable Optimally Financed With EBITDA Margin InvIT Credit Rating1 47.85%2, Significant 40+ Lending Partners2 Headroom For Growth Capex Note: 1. Rated by Crisil and CARE respectively; 2.
Slide 19: Well-Diversified Debt Book with Headroom for Growth Capex
4 Well-Diversified Debt Book with Headroom for Growth Capex 8.13%1 69% INR 9.5 Bn Cost Of Debt Fixed Rate Borrowings Closing Cash Well-Diversified Debt Book Debt Headroom For Growth Capex Debt Mix by Instrument (INR 442 Bn) NCD Investor Break-up (INR 232 Bn) 22 70.00% 35 11 9 59 153 NCDs 79 Term Loa
Slide 20: The Only Listed Telecom Tower InvIT
5 : The Only Listed Telecom Tower InvIT Altius offers a scarce opportunity to participate in digital growth story with …and has a ~14% Share Of The Cumulative EV Across InvITs1 benefits of an InvIT structure… # of InvITs % Share 14 ~14% 100% 3 2 1 1 1 1 1 ~86% Others Towers Natural Gas Fiber Transmi
Slide 21: Structural Advantages Underpinning Higher Cash Flow Visibility & Returns
5 Structural Advantages Underpinning Higher Cash Flow Visibility & Returns Other Large TowerCo 1 Platform Independence ✓✓✓ Largest Independent Telecom Infrastructure Platform in India Primarily Focused on India Market ✓ Largely Owned by a Major Telecom Operator Scale / Tower Network ✓✓✓ 257k+ Teleco
Slide 22: Highly Seasoned Leadership Team
6 Highly Seasoned Leadership Team… Munish Seth Rahul Katiyar Ashwani Khillan Biswajit Patnaik Group MD CFO COO Chief Commercial & Sales Officer 34+ yrs 27+ yrs 35+ yrs 30+ yrs Experience Experience Experience Experience American Tower Mobile Google Meta Airtel Ericsson Airtel Indus Towers Corporatio
Slide 23: Supported by Eminent and Experienced Board of Directors
6 ...Supported by Eminent and Experienced Board of Directors Independent Directors Chetan Desai Jagdish Kini Sunil Srivastav Dr. Brijgopal Jaju Radhika Haribhakti Independent Director Independent Director Independent Director Independent Director Independent Director 48+ 50+ 38+ 50+ 30+ Executive Di
Slide 24: Financial Highlights
4. Financial Highlights
Slide 25: Financial Highlights
Financial Highlights Particular (INR) 9M FY26 9M FY251 DISTRIBUTION FOR FY264 Revenue from Operations 181 Bn 135 Bn Distribution Per Unit (DPU) Reported EBITDA2 74 Bn 54 Bn INR 15.6 Cash EBITDA3 62 Bn 50 Bn Return Return on Capital of Capital INR 10.3 INR 5.3 Net Distributable Cash Flows (InvIT) 38
Slide 26: Appendix
Appendix Altius
Slide 27: Cash EBITDA to Distribution Walk | 9M FY 26
Cash EBITDA to Distribution Walk | 9M FY 26 (INR in Bn) 2 NDCF SPVs ( ) NDCF InvIT ( )2 1 (17) 2 (10) (0) Return of 62 12 capital (Tax-free) 48 38 Return on 26 capital (Taxable) Cash Working Capital Finance cost / Sale of NDCF – Finance Opex NDCF Distributed 1 EBITDA Movement Repayment Infra Assets
Slide 28: InvIT Industry Overview
InvIT Industry Overview InvIT Industry Key Features of InvITs 29 6 Registered InvITs Listed Publicly Minimum 90% NDCF Mandatory AAA rating distributed to unitholders, if Net Debt/AUM >49% at least annually ~INR ~INR 7,000 Bn 1,800 Bn Minimum 80% portfolio Unit-holder approval Total Assets Under Mana
Slide 29: Altius
Altius
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