Abu Dhabi Investment Authority, GIC Real Estate, Inc. and Centerbridge Partners, L.P. on behalf of one or more funds or other entities managed by its affiliates made a non-binding proposal to acquire remaining 85.2% stake in in INDUS Realty Trust, Inc. (NasdaqGM:INDT) from a group of shareholders for approximately $580 million on November 27, 2022. GIC Real Estate, Inc. and Centerbridge Partners, L.P. on behalf of one or more funds or other entities managed by its affiliates entered into a definitive merger agreement to acquire remaining stake in INDUS Realty Trust, Inc. (NasdaqGM:INDT) from Monarch Alternative Capital LP and others for approximately $580 million on February 22, 2023. The offer is to acquire 100% of the outstanding shares of INDUS Realty common stock that Centerbridge does not already own for cash consideration of $65 per share. The agreement is to acquire 100% of the outstanding shares of INDUS Realty common stock that Centerbridge does not already own for cash consideration of $67 per share. Subject to and upon completion of the transaction, INDUS? common stock will no longer be listed on Nasdaq and INDUS will become a privately held company. INDUS shall pay a termination fee of $24.4 million while GIC Real Estate, Inc. and Centerbridge Partners shall pay a termination fee of $62.8 million. The Proposal is non-binding and is subject to a number of conditions. The deal is subject to customary closing conditions including approval by a majority of the shares of INDUS common stock outstanding and the clearance by the Committee on Foreign Investment in the United States and the approval by the European Commission under Council Regulation. As of May 11, 2023, the EU merger watchdog has concluded that the proposed transaction would raise no competition concerns as Indus has no activities or assets in the European Economic Area. As of June 23, 2023 the Committee on Foreign Investment in the United States approved the transaction. The transaction is expected to close in the summer of 2023. As of June 23, 2023 All regulatory approvals required to close the Merger pursuant to the Merger Agreement have now been received and parties currently expect to close the Merger on June 29, 2023.

Morgan Stanley & Co. LLC is serving as financial advisor and Brad Helms, Lewis Kneib, Pardis Zomorodi, Austin Ozawa, Justin Elliott, Christopher Norton, Hanno Kaiser, Mandy Reeves, Damara Chambers, Héctor Armengod, Tomas Nilsson, Peter Todaro, David Kuiper, Julian Kleindorfer, Charles K. Ruck and Darren Guttenberg of Latham & Watkins LLP acted as legal advisors to INDUS. BofA Securities Inc. and J.P. Morgan Securities LLC are serving as financial advisors to Centerbridge and GIC. Atif I. Azher and Frederick De Albuquerque (M&A), Gregory J. Ressa, Danielle C. Jackson and Whitney W. Salinas (Real Estate), Marcy G. Geller and Benjamin Rippeon (Tax), Jonathan A. Karen and Linda Tieh (Funds), Gregory T. Grogan and Harry N. Hudesman (ECEB), Jennifer L. Nadborny and Bettina C. Elstroth (PCAP), Ross Ferguson, Preston Miller and Kelly Karapetyan (Antitrust) and Lori E. Lesser (Intellectual Property) of Simpson Thacher & Bartlett LLP is serving as legal advisors to Centerbridge and Blair Thetford, Matea Bozja, Nickolas Gianou, Ralph E Perez, David Polster and Nancy Olson of Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to GIC. Scott B. Luftglass and Philip Richter of Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Conversant Capital. INDUS has engaged D.F. King & Co., Inc. to assist in the solicitation of proxies for a fee of $10,000, plus reimbursement of reasonable expenses. INDUS has agreed to pay Morgan Stanley an aggregate fee equal to approximately $14 million, $1.5 million of which has already been paid for Morgan Stanley?s delivery of its fairness opinion and other financial advisory services, and the remaining portion of which is payable upon the closing of the merger. American Stock Transfer & Trust Company, LLC acted as transfer agent to INDUS. Morgan Stanley acted as due diligence provider to INDUS. As of May 17, 2023, Target shareholders has approved the deal.

Abu Dhabi Investment Authority, GIC Real Estate, Inc. and Centerbridge Partners, L.P. on behalf of one or more funds or other entities managed by its affiliates completed the acquisition of remaining 85.2% stake in in INDUS Realty Trust, Inc. (NasdaqGM:INDT) from a group of shareholders on June 29, 2023. As a result of the completion of the transaction, INDUS? common stock will no longer trade on Nasdaq and will be delisted.