REGULATORY & CAPITAL ALLOCATION DEVELOPMENTS

Subject: Prestige Estates Extends ₹750 Cr Guarantee for Mumbai Subsidiary; PHVL Tactically Withdraws IPO DRHP Executive Summary Prestige Estates Projects Limited has announced two material corporate updates in accordance with SEBI (LODR) Regulations: (1) the execution of a corporate guarantee to secure debt financing for its Mumbai development vehicle, and (2) a strategic withdrawal of the Draft Red Herring Prospectus (DRHP) for its hospitality arm, Prestige Hospitality Ventures Limited (PHVL). 1. Credit Support: Corporate Guarantee for Mumbai Operations To support project execution and liquidity in the high-growth Mumbai region, Prestige Estates has issued a corporate guarantee in favor of ICICI Bank: Exposure: Up to ₹750 crore to secure a credit facility availed by its subsidiary, Prestige Falcon Mumbai Realty Private Limited. Governance & Compliance: Executed strictly on an arm’s-length basis in full compliance with the Companies Act, 2013, and SEBI listing mandates. The promoter and promoter group have no pecuniary interest in the transaction. Balance Sheet Treatment: The guarantee constitutes a contingent liability. Given that Prestige Falcon Mumbai Realty is a consolidated subsidiary, the transaction carries no immediate impact on consolidated earnings or operations, while ensuring institutional capital access at competitive rates. 2. Capital Markets: DRHP Withdrawal by PHVL Context: PHVL had previously submitted a DRHP dated April 24, 2025, to SEBI, BSE, and NSE for a proposed Initial Public Offering of equity shares. Investor Takeaway These developments underscore a disciplined capital allocation model: providing proactive balance-sheet support to high-conviction real estate developments in South-Central Mumbai, while maintaining market discipline by avoiding monetization of the hospitality portfolio during suboptimal public market conditions.