The Indian Hotels Company Limited at its Board meeting held on July 27, 2023 entered into a Lease Agreement, for operation of a hotel in Frankfurt, Germany, for a period of 20 years with right of two renewals of 5 years each, on the following terms and conditions: a) Capex Investment for renovation of aforesaid hotel of upto EUR 5 Million by IHCL or through one of its subsidiary. b) Incorporation of a new wholly owned indirect subsidiary in Germany to enter into the above lease and incur such incorporation expenses as may be required for the same. c) Issuance/Placement of Bank/Insurance Guarantee/Deposit by IHCL or its subsidiary of upto EUR 3 Million.

d) Issuance of Corporate Guarantee by IHCL or its subsidiary in favour of the lessor upto EUR 10.05 Million for the entire term.