Chalet Hotels Limited — Capital/Financing Update 2021

Jun 4, 2021

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June 04, 2021

National Stock Exchange of India BSE Limited Limited Exchange Plaza Corporate Relationship Department Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Fort, Mumbai 400 051. Mumbai 400 001. Scrip Code: CHALET Scrip Code: 542399

Dear Sir / Madam,

Subject: Update w.r.t. Borrowing

Reference: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform that the Company has been sanctioned a loan of Rs.600 crore from leading institution for the construction of Commercial Project at Powai, Mumbai and reimbursement of costs incurred thereon, for a tenure of 15 years including moratorium period of 5 years for principal repayment.

As per prevailing regulatory guidelines, lenders have an option to convert loan into Equity in the event of default by the borrower. The proposed loan contains a similar condition and the Promoters of the Company have agreed to furnish an Undertaking to the Lender to accord positive assent to necessary resolution/s proposed by the Company in an Event of Default to enable conversion of the Facility (as may be decided by the Lender) into Equity under Section 62 of The Companies Act, 2013, as and when called upon by the Lender to do so.

You are requested to take the same on record.

Thanking you,

Yours faithfully,

For Chalet Hotels Limited

CHRISTABEL LE BAPTISTA

Digitally signed by CHRISTABELLE BAPTISTA DN: c=IN, o=Personal, 2.5.4.20=af045dbb382af52a89365d24fbc5f856ffa9d651 ac10ebcfcfd473f3a25542cb, postalCode=400064, st=MAHARASHTRA, serialNumber=878dc518f343317eb76d77b1bdd8e3789 4de02759dde01140ebbf9a3532471bb, cn=CHRISTABELLE BAPTISTA Date: 2021.06.04 19:27:38 +05'30'

Christabelle Baptista Company Secretary & Compliance Officer

Chalet Hotels Limited (Formerly Chalet Hotels Pvt. Ltd.) Regd. Off. : Raheja Tower, Plot No.C-30, Block ‘G’, Next to Bank of Baroda, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051. Phone : +91-22-2656 4000 Fax : +91-22-2656 5451 Website : www.chalethotels.com CIN : L55101MH1986PLC038538