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www.samhi.co.in Investor Presentation Q2 FY2027 SAMHI Hotels Ltd Westin & Fairfield by Marriott, Navi Mumbai Architectural renders , actual may vary
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www.samhi.co.in 2 Important notes on the presentation format • Excel data file containing all supporting information captured in this presentation is available on our website at https://samhi.co.in/investor- relations/ • All operating performance metrics are presented on a same-store basis (and highlighted in the color: orange), allowing for a more accurate reflection of business performance and comparability • Room counts in under development asset may vary based on final plan and statutory approvals • Free Cash Flow = EBITDA (before ESOP) – Lease MG – Cash Interest
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www.samhi.co.in Message from the CEO Strong Operating Environment We are pleased to report our performance for the quarter. Occupancy held close to 80% and RevPAR grew by about 14% on a same-store basis, making this a reassuring period for the business. Revenue growth remained ahead of our long-term guidance. Domestic travelers accounted for about 80% of the room nights sold during the quarter. This cohort has proven more resilient amid ongoing geopolitical instability, reinforcing our confidence in the resilience of the Indian economy and the opportunity it represents. Building for the Future Against this strong backdrop, we have been steadily building for the future. For several quarters, our reported growth has been largely driven by same-store performance, as no new inventory came online. This is set to change. We look forward to opening the W Hotel in Hyderabad next fiscal year and have secured a pipeline of approximately 1,700 new rooms through FY2031. These initiatives put us on a path to strong growth, and our focus now is on delivering them on schedule. We are equally proud of having built this pipeline without compromising our discipline: we add assets only in core markets and at a discount to replacement cost. We are not buying growth through expensive acquisitions; instead, we are building it through the efforts that conversions and turnarounds demand, as demonstrated in Bangalore, and by securing long-term leases, as in Noida and Hyderabad. Our modest investment in RARE, together with ongoing discussions on a partnership with Marriott, will help RARE build a strong platform in experience-led leisure across the region, with limited capital exposure. Outlook We expect H2 FY27 to be operationally stronger. Going forward, incremental EBITDA is expected to translate into free cash flow, with interest outflows remaining stable. This should enable us to increasingly fund future growth investments through internal cash generation, supporting a disproportionate improvement in free cash flow generation. Our Focus on Doing What Is Right We released our first Sustainability Report for FY2025-26, covering 31 hotels and 4,899 rooms across 11 states. The report highlights improvements in energy efficiency, waste reduction and renewable energy usage. Building on our FY30 commitments, we will establish quantified targets across key sustainability parameters, with clear baselines to track and benchmark our progress. 3
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www.samhi.co.in LONG TERM POTENTIAL ~70 hotels, ~900 rooms Asset light, experience-led travel NEAR TERM GROWTH 7 new hotels, 1,6691 rooms STRONG BASE 31 Hotels, 4,899 rooms ~₹12.8bn revenue in FY2026 4 Building one of India’s most well diversified, multi-branded hotel company with an established base of 31 business hotels, a strong pipeline of 7 big-box hotels in some of India’s key business districts and an exciting leisure hotel platform with ~70 hotels in some of the most exceptional leisure destinations across Indian sub-continent 1: Includes 22 apartments of Hyatt Regency, Pune which are currently under pre-opening
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www.samhi.co.in Our Business ▪ A firm believer and investor in the Urbanization story of India, we own hotels in some of the most-dense office markets and ones with strong growth in aviation. Core Strategy ▪ We have a track-record for acquisition and turn-around led growth; keeps us protected from protracted development cycle, risk and helps us build scale at discount to replacement cost. ▪ Our partnerships with leading global hotel companies allow us to combine deep local knowledge of asset acquisition & management with global distribution & loyalty programs. Embedded Growth ▪ Strong growth pipeline. As of date, our growth pipeline consists of 7 new big-box hotels in key commercial districts across India, with 1,6691 rooms. ▪ Recently extended our skill set to create value from underappreciated assets in the leisure segment. Our acquisition of RARE India and planned partnership with Marriott for distribution positions us to be a beneficiary of the wealth creation underway in our core markets, which is driving increasing demand for experience-led leisure travel. Asset- light, scalable and highly differentiated, this platform gives us a phenomenal growth opportunity for the long term. Healthy Balance Sheet ▪ Our balance sheet is healthy; we are steadfast on making it even stronger and an anchor stone for our future growth. 51: Includes 22 apartments of Hyatt Regency, Pune which are currently under pre-opening
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www.samhi.co.in 10 203 434 732 1,721 3,572 4,202 4,901 6,276 1,793 3,331 7,615 9,787 11,386 12,790 4,721 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Consol Revenue Consol EBITDA pre ESOP 1 SAMHI has delivered consistent growth 6 Note: All values in ₹mn, unless specified otherwise 1: FY25 financials were restated on account of sale of Caspia Delhi as the asset was recognized under “discontinued operation” 2: CAGR has been calculated from FY16 to FY26 i.e. for 10 years 22% CAGR2 (10 yrs.) 38% CAGR2 (10 yrs.)
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www.samhi.co.in Upper Upscale Hotel, Sec-51, Noida 162 rooms Opening FY30 W, HITEC City, Hyderabad 170 rooms Opening Q2 FY28 Marriott, Sriperumbudur, Chennai 135 rooms Opening FY30 Westin, Whitefield, Bangalore 220 rooms Opening FY30 Mid-scale Hotel, Financial District, Hyderabad 260 rooms, Opening FY30 Westin & Fairfield, Navi Mumbai 700 rooms Opening FY31 We are adding iconic assets to key markets in India & to our portfolio 7 Note: Above images are architectural renders and may undergo change in the future
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www.samhi.co.in 8 ~70 Hotels ~900 Rooms 19 States 3 Countries (India, Nepal & Bhutan) ▪ With a small investment in RARE, we access India’s most distinctive and respected platforms in the experience led leisure space ▪ Asset-light, highly scalable and unique ▪ Planned partnership with Marriott will unlock phenomenal value for RARE’s hotel partners and for us as a shareholder ▪ RARE to receive: a) Fee income from the business it generates for its hotel partners; b) Additional incentive fee in select hotels; and c) Selective opportunistic investments We support India’s most respected platform for leisure hotels
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www.samhi.co.in Future will be a lot more than sum of parts 9 FY2026 FY2027 – FY2032 # Rooms Revenue Revenue per Key Secured Pipeline # Rooms % Change Upper Upscale & Upscale 1,123 ₹5,270mn ₹4.7mn • +1,059 rooms new openings • +473 rooms conversion from Upper Mid-scale1 2,655 +136% Upper Mid-scale 2,047 ₹5,235mn ₹2.6mn • +350 rooms new openings • -473 rooms conversion to Upscale1 1,924 -6% Mid-scale 1,729 ₹1,994mn ₹1.2mn • +260 rooms new openings 1,989 +15% Leisure - - - • ~900 rooms within portfolio • Revenue from: • fee income from the business it generates for its hotel partners; • incentive fee in select hotels; and • selective opportunistic investments ~900 NA Asymmetric returns as majority of new rooms being added are in segments with relatively higher revenue per key* 1: Renovation and re-branding from existing Upper Mid-scale segment to the Upper Upscale & Upscale segment * Only for Owned new hotels excluding RARE India inventory which is on asset-light model
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www.samhi.co.in Financial Highlights Quarter ending 30th September, FY2027 Westin, Whitefield, Bangalore Architectural renders, actual may vary
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www.samhi.co.in Highlights for the quarter 11 ▪ Strong same-store revenue growth of +12.6% YoY – ahead of our long-term guidance of 9 to 11% ▪ Occupancy level at 78.6% (up from 75.0% Q2-FY26) ▪ RevPAR growth of +14.3% YoY led by +9.2% ARR growth ▪ Flowthrough of incremental EBITDA1 to incremental Revenue stood at ~57% ▪ Domestic travelers constitute ~80% of total room nights we sold in the quarter. More resilient cohort given geo-political instability ▪ Total Revenue growth of +15.6% YoY with Comparable1 EBITDA growth of +21.3% YoY excluding impact of GST regulation change (not in base period Q2FY26) ▪ Consolidated EBITDA margin of 39.1% (ex GST impact); 300 bps dilution due to GST impact resulting in reported margins at 36.1% – scope for improvement in subsequent periods; growth in upscale inventory (not impacted by GST changes) to improve operating margins to ~40% ▪ The on-going growth pipeline within our core portfolio and the progress in RARE India gives us a formidable path to growth 1: Excludes the GST input tax credit (ITC) impact in Q2FY27 of ~INR 103 mn. 2: Based on same-store, i.e., excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25), Caspia Delhi (discontinued operation) and Sheraton Commercial.
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www.samhi.co.in Financial summary – Q2 FY2027 12 Total Income ₹3,427mn +15.6% YoY Reported Consol. EBITDA ₹1,238mn +21.3% YoY Comparable2 +12.0% YoY Reported Net Debt : EBITDA ~3.1x ~2.2x on Operating Assets Effective Interest Rate 7.8% ~300bps lower since IPO Same-store RevPAR ₹5,746 +14.3% YoY 78.6%1 Occupancy PAT ₹411mn Free Cash Flow ~827mn ~₹350mn cash interest outflow 1: Based on same-store, i.e., excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25), Caspia Delhi (discontinued operation) and Sheraton Commercial 2: Comparable excludes the GST input tax credit (ITC) impact in Q2FY27 of ~INR 103 mn. PBT (ex-exceptional items) ₹534mn +39.9% YoY Reported
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www.samhi.co.in H1 FY 2027 Q2 FY27 % chg. YoY basis H1 FY27 % chg. YoY basis Total Income ₹3,427mn +15.6%YoY Reported ₹6,510mn +11.5%YoY Reported Consol. EBITDA ₹1,238mn +21.3% YoY Comparable1 +12.0% YoY Reported ₹2,251mn +17.0% YoY Comparable1 +4.2% YoY Reported PBT Before exceptional items ₹534mn +39.9% YoY Reported ₹862mn +34.5% YoY Reported PAT ₹411mn ₹660mn 13 1: Q2 FY 27 comparable excludes the GST input tax credit (ITC) impactof ~INR 103 mn; H1FY27 comparable excludes the GST input tax credit (ITC) impact of ~INR 194 mn , one-time other income in H1FY26 of ~INR 91 mn and one-time GIC transaction expense in H1 FY26 of ~INR 21 mn. Revenue growth in line with our long- term guidance Healthy operating flow-through impacted by GST change
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www.samhi.co.in Hits & Misses: Q2 FY2027 14 ▪ Revenue growth in line with guidance 12.6%1 same store growth in revenues with 78.6%1 portfolio occupancy demonstrating resilience of domestic demand – in line with our 9-11% guidance ▪ Increase in sold out dates 37%1 of days in Q2FY27 were above 90% (i.e. sold out) as compared to 32%1 in Q2FY26 showing demand compression despite weaker international business due to middle east conflict. Revival to aid in better yield management to boost ARRs ▪ Office space absorption in our core markets Bangalore and Hyderabad together absorbed ~8mn sft. (on a net basis) in the quarter led by GCCs demonstrating overall strength of the office market Hits Misses & headwinds ▪ Headwinds in aviation sector Air passenger travel de-grew by ~4% overall and by 10-13% in cities such as Hyderabad, Chennai, Ahmedabad, and Kolkata on the back of reduced supply with high fuel prices and INR currency depreciation. ▪ GST change Shift from 12% with ITC to 5% without input credit compressed reported EBITDA growth by ~₹103mn for the quarter However, with most new openings in upscale segment, we expect our EBITDA margins to improve ▪ Approvals in Hyatt Regency Pune 22 apartments have been fully completed as of Oct ‘25; delay in approvals causing loss of revenue in a strong market 1: Based on same-store, i.e., excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25), Caspia Delhi (discontinued operation) and Sheraton Commercial
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www.samhi.co.in Financial Summary (Consolidated P&L) 15 Q2FY27 Q2FY26 YoY % H1FY27 H1FY26 YoY % FY26 Total Income 3,427 2,963 +15.6% 6,510 5,8361 +11.5% 12,790 Consolidated EBITDA2 1,238 1,105 +12.0% 2,251 2,161 +4.2% 4,626 EBITDA Margin 36.1% 37.3% 34.6% 37.0% 36.2% Depreciation & Amortization (320) (296) +8.2% (629) (587) +7.2% (1,267) Finance cost (383) (427) -10.3% (760) (933) -18.6% (1,709) PBT (before exceptional items) 534 382 +39.9% 862 641 +34.5% 1,650 Exceptional Items3 39 841 39 841 1,075 Profit/ (Loss) from discontinued operations4 - (26) - (55) (55) PBT 573 1,197 -52.1% 900 1,428 -36.9% 2,671 Tax Expense (162) (199) (240) (238) 2,9955 PAT 411 998 -58.8% 660 1,190 -44.5% 5,665 Attributable to SAMHI 335 924 518 1,097 5,030 Attributable to Minority Interest 75 74 142 93 636 All values in ₹mn, unless specified otherwise. 1: Includes the impact of ~ ₹91mn of one-time other income in H1FY26 on account of a subsidiary capital restructuring related to the GIC transaction 2: Includes the impact of: a) GST – input tax credit (ITC) impact of ~₹103mn and ~₹194mn in Q2FY27 and H1FY27 respectively b) ~₹21mn of one-time GIC transaction expenses in H1FY26 3: This includes : a) Gain on sale of Hosur land: +₹39mn in Q2FY27 and H1FY27 b) Reversal of impairment (Navi Mumbai land): +₹696mn and Gain on sale of Caspia, Delhi: + ₹ 145mn in Q2FY26 and H1FY26 c) Impact of reversal of impairment of PPE, ROU and Intangibles: +₹966mn, impact of labor code: –₹35mn and Gain on sale of Caspia Delhi: +₹145mn in FY26 4: Profit/Loss from discontinued operations represents Caspia Delhi. 5. Deferred tax asset of ~₹3,000mn recognized in FY26 based on improved financial performance and greater visibility of future profits.
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www.samhi.co.in Financial Summary (Consolidated Balance Sheet) Sep’26 Mar’26 Notes Fixed Assets 29,206 29,526 CWIP 2,192 1,394 Major projects: W Hyderabad, HRP apartments, Tribute Bangalore and Navi Mumbai Goodwill 5,583 5,218 Goodwill recorded on new acquisitions (RARE India and Itmenaan) Cash & Cash Equivalents 2,785 2,611 Inventories 35 41 Deferred Tax Assets 3,196 3,421 Other Assets 2,570 2,242 Total Assets 45,567 44,453 Share Capital 222 222 Other Equity 22,135 21,600 Non-controlling interest 1,269 1,042 Represents 35% stake of GIC in Ascent and SAMHI JV and 30% in RARE India Total Equity 23,626 22,864 Total Borrowings 17,304 17,082 Lease liabilities 1,411 1,461 Deferred Tax Liabilities 968 942 Other Liabilities 2,259 2,194 Total Equity & Liabilities 45,567 44,453 Note: All values in ₹mn, unless specified otherwise. 16
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www.samhi.co.in Balance Sheet continues to strengthen 17 Sep 30, 2023 Mar 31, 2025 Mar 31, 2026 Jun 30, 2026 Sep 30, 2026 Credit Rating Net Debt (₹ mn) 17,974 19,669 14,507 14,928 14,579 TTM EBITDA1 (₹ mn) 3,398 4,434 4,7215 4,6645 4,7775 Net Debt-to- EBITDA Net Annualized interest run rate4 (₹ mn) ~2,400 ~1,900 ~1,270 ~1,240 ~1,2506 5.3x 4.4x 3.1x 3.2x 3.1x 2.2x 10.8% 9.2% 7.9% 7.8% 7.8% 5.5% 6.5% 7.5% 8.5% 9.5% 10.5% 11.5% 0 1 2 3 4 5 6 7 8 Net Debt : EBITDA Net Debt : EBITDA (Adjusted for Growth Capital) Interest Rate BBB A− A+ 1: Excluding ESOP & One-time Expenses 2: Capital allocated towards W (HITEC Hyd.), Westin Bglr., HRP Apartments, Sheraton Rooms & Apartments, HIEX (Wht. Bglr.), Westin Navi Mumbai and other capital expenditure 3: As on 30th September 2026. Please note that the interest rate includes the upfront fee which is amortized over the estimated repayment period 4: Does not include non-cash finance cost items such as interest on lease, EIR, etc. which are charged to P&L 5: Excludes Caspia Delhi EBITDA on TTM basis 6. 8.0% net annualized interest rate factored in the estimate on account of recent policy rate increase by RBI 3 A+ 2 A+
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www.samhi.co.in Macro Dynamics Westin & fairfield, Navi Mumbai Architectural renders, actual may vary
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www.samhi.co.in Robust commercial activity across key markets 19 1: Source: JLL FY26 2: Source: Cushman and Wakefield Office Report Office market size1 (mn sft.) Net Office Absorption2 (mn sft.) FY26 Q2FY26 Q2FY27 H1FY27 Total of ~58mn sft Total of ~16mn sft Total of ~13mn sft Total of ~24mn sft Bangalore 15.3 3.5 4.1 7.6 Hyderabad 9.5 1.6 3.8 5.1 Delhi NCR 9.3 3.8 2.2 3.5 Mumbai 8.5 2.1 1.0 2.4 Pune 7.2 2.5 0.7 3.2 Chennai 7.4 2.3 1.0 1.8 Kolkata 1.3 0.4 0.3 0.830 86 93 163 166 143 238 6 14 27 23 26 50 35 Current Upcoming Despite macro headwinds, leasing momentum (especially in the GCCs) remains strong led by Bangalore, Hyderabad, Pune and Delhi NCR which accounted for 80%+ of the leasing activity
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www.samhi.co.in Air Passenger Trend in Q2FY27 20 53 53 63 66 67 65 70 71 72 71 77 77 75 70 79 78 75 67 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 QoQ airline passenger growth (in mn)1 4.1% 2.6% -2.5% -3.8% -11.2% -11.9% -12.5% -13.2% -13.3% Delhi Pune Mumbai Bangalore Hyderabad Chennai Ahmedabad Goa Kolkata Q2FY27 change over Q2FY26 -4.1% YoY 1: Source: Airports Authority of India (AAI). Includes the 10 key metro cities inc. Delhi, Mumbai (inc. Navi Mumbai), Bangalore, Hyderabad, Chennai, Kolkata, Ahmedabad, Pune, Goa and Kochi 2: Mumbai includes Navi Mumbai and Delhi includes Noida Impacted due to reduced supply with high fuel prices and INR currency depreciation. 2 2
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www.samhi.co.in Portfolio Performance W, HITEC City, Hyderabad Architectural renders, actual may vary
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www.samhi.co.in Double-digit RevPAR growth amid geopolitical headwinds 22 3,662 3,782 4,248 4,830 4,276 4,529 5,088 5,958 4,760 5,026 5,643 6,041 5,219 5,746 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY271 1 2 3 3 3 3 4 18.8% 7.6% 19.8% Mid-scale Upper Mid-scale Upper Upscale & Upscale Segment wise RevPAR growth4 (Q2FY27 YoY) 42% 41% 17% Revenue Contribution of the Segment (Q2 FY27) 1. Based on same-store, i.e., excludes the ACIC Portfolio acquired in Aug’23, and Caspia Pro, Greater Noida (which was under renovation and later reopened in Dec’24 as Holiday Inn Express) 2. Based on same-store, i.e., excludes the ACIC Portfolio acquired in Aug’23, Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24 and Caspia Delhi (under renovation) 3. Based on same-store, i.e., excludes the Four Points by Sheraton, Chennai OMR sold in Feb’25, Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25), Caspia Delhi (discontinued operation) and Sheraton Commercial 4. Based on same-store, i.e., excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25) and Caspia Delhi (discontinued operation) +14.3% YOY 2 4 Data for leisure segment to be added post integration of the RARE x Outdoor Collection by Marriott Bonvoy platform
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www.samhi.co.in Q2FY27 - Total Income bridge 1. Same-store excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25), and Sheraton Commercial 2. Includes Trinity, HIEX Greater Noida, HIEX Kolkata, RARE India and Itmenaan 3. Includes Sheraton Commercial Recorded healthy same store growth of 12.6% - ahead of our long-term guidance of 9 to 11% 3,427 2,929 355 101 (0) 3,384 42 Q2 FY26 Asset Income Growth in Same Store Growth from new openings Loss due to sold/ discountinued operations Q2 FY27 Asset Income Corporate Income Q2 FY27 Total Income (amounts in ₹ mn, unless specified otherwise) +12.6% YoY +15.5% YoY +15.6% YoY 1 2 3 23
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www.samhi.co.in Q2FY27 – Consol. EBITDA bridge (amounts in ₹ mn, unless specified otherwise) 1,185 1,312 201 19 (2) 1,403 (92) (74) 1,238 Q2 FY26 Asset EBITDA Growth in Same Store w/o GST impact Growth from new openings Loss due to sold/ discontinued operations Q2 FY27 Asset EBITDA (pre -GST impact) GST Impact Q2 FY27 Asset EBITDA Net Corporate G&A (inc. ESOP) Q2 FY27 Consol.EBITDA +17.2% YoY +18.4% YoY +12.0% YoY 2 3 +10.7% YoY (Includes GST impact of ~₹11 mn) 1 1. Same-store excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25), and Sheraton Commercial 2. Includes Trinity, HIEX Greater Noida, HIEX Kolkata, RARE India and Itmenaan 3. Includes Sheraton Commercial +17.2 % comparable growth in EBITDA on same-store assets excluding Q2FY27 impact of GST 24
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www.samhi.co.in Operational Efficiency Note: All values in ₹mn, unless specified otherwise (549) (397) (638) (163) (60) (61) (74) 3,385 (206) 1,312 1,238 Asset Income Payroll Fixed Variable Utilties Management Fees Lease Rentals Ownership Expenses Asset EBITDA Net Corporate G&A (inc. ESOP) Consol. EBITDA Q2FY27 Bridge from Total Asset Income to Consol. EBITDA 38.8% Asset EBITDA Margin (16.2%) (10.8%) (19.3%) (6.1%) (4.7%) (1.8%) (2.5%) (Includes GST impact of ~₹11 mn) Operating expenses include a total of ~₹92mn of GST impact 36.1% Consol. EBITDA Margin 25
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www.samhi.co.in Segmentation Mix On-going rebranding/ renovations to increase upscale share from ~41% to ~60% by FY2030, giving boost to our overall revenue per key 42% 41% 17% Total Income Split by Segment (Q2FY27) Upper Upscale & Upscale Upper Mid-scale Mid-scale 26Note: Data for leisure segment to be added post integration of the RARE x Outdoor Collection by Marriott Bonvoy platform
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www.samhi.co.in Segment Performance Stable: Y-o-Y change of +/-200bps; Upward: Y-o-Y increase of between 200 – 700bps; Strong Upwards: Y-o-Y increase of more than 700bps; Downward: Y-o-Y decrease of between 200 – 700bps; and Strong Downwards: Y-o-Y decrease of more than 700bps 1. Based on same-store, i.e., excludes the Trinity acquired in Oct’24, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25) and Sheraton Commercial Upper Upscale & Upscale Upper Mid-scale Mid-scale Individually stylized hotels catering to high-end business travelers. Provide extensive dining options and large social and meeting venues Prototypical design for efficiency and scalability; cater to a wide spectrum of travelers. Can cater to medium sized meeting and social events. One of the most efficient hotel products in market; highly scalable. Focus on high quality and affordable room and breakfast Hotels 5 14 12 Rooms 1,123 2,047 1,729 Occupancy1 (%) 80% 76% 81% ARR1 (₹) 11,923 7,156 4,068 RevPAR1 (₹) 9,503 5,442 3,292 27
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www.samhi.co.in Growth Projects
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www.samhi.co.in Secured projects to accelerate future growth # Hotel Segment Growth Project Status FY26 FY27 FY28 FY29 FY30+ 1 Holiday Inn Express, Greater Noida Mid-scale Rebranding Completed 133 2 Holiday Inn Express, Kolkata Mid-scale New Opening Completed 113 3 Sheraton, Hyderabad Upscale Expansion Completed 12 4 Holiday Inn Express, Whitefield, Bangalore Mid-scale Expansion Completed 56 5 Sheraton, Hyderabad Upscale Expansion Completed 42 6 Hyatt Regency, Pune Upscale Expansion Pre-Opening 22 7 W, HITEC City, Hyderabad Upscale New Opening Under Fit out 170 8 Courtyard by Marriott , Pune2 Upscale Rebranding from Four Points by Sheraton Under Fit out 217 9 Tribute Portfolio by Marriott, Whitefield, Bangalore2 Upscale Rebranding from Trinity Design 142 10 Tribute Portfolio by Marriott, Jaipur2 Upscale Rebranding from Four Points by Sheraton Design 114 11 Westin, Whitefield, Bangalore Upscale New Opening Under Construction 220 12 Mid-scale asset, Financial District, Hyderabad Mid-Scale New Opening Design 260 13 Westin, Navi Mumbai Upscale New Opening Design ~350 14 Fairfield by Marriott, Navi Mumbai Upper Mid-scale New Opening Design ~350 15 Upper Upscale Asset, Noida Upscale New Opening Design 162 16 Marriott, Sriperumbudur, Chennai3 Upscale New Opening Design 135 4,899 current operational rooms Rebranding of 473 rooms and addition of 1,6691 rooms through combination of expansion and new opening to aid revenue expansion 1. Includes 22 apartments of Hyatt Regency, Pune which are currently under pre-opening 2. Part renovation in progress, full renovation in due-course 3. Earlier proposed to be an expansion to existing Fairfield by Marriott with 86 rooms 29
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www.samhi.co.in W HITEC City, Hyderabad (170 rooms1) An iconic brand in one of India’s largest commercial districts under development 1. Based on final segment brand and plan room count may vary 30 Project Progress Design Interior design finalization Construction Completed MEP Under progress Fit-out Under progress Pre-Opening Architectural renders , actual may vary
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www.samhi.co.in W HITEC City, Hyderabad (170 rooms) New Development Architectural renders , actual may vary Strong product in a resilient market to allow high ARR performance 31
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www.samhi.co.in 32 W HITEC City, Hyderabad (170 rooms1) Project Progress Design Interior design finalization Construction Completed MEP Under progress Fit-out Under progress, Mock-up room completed Pre-Opening Mock-up Room Room Fit-out MEP: Plants & Machineries Building Façade Work
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www.samhi.co.in Westin & Tribute Portfolio Whitefield, Bangalore (142 rooms renovation & 220 new rooms) Under Renovation & Development Artist impression, actual may vary Architectural renders , actual may vary
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www.samhi.co.in Westin & Tribute Portfolio Whitefield, Bangalore (142 rooms renovation & 220 new rooms) Under Renovation & Development Q1 FY27 34 Project Progress Design Interior Design Construction Basement MEP Fit-out Pre-Opening Q2 FY27
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www.samhi.co.in Partnership with Ingka Centres in Noida Strategic partnership with Ingka Centres (Part of Ingka Group which also owns IKEA Retail) for ~162-room Upscale hotel Core Office & Consumption Market Located on a key arterial junction, with proximity to key business districts (Sector 62 and Noida Expressway) Integrated Mixed-Use Ecosystem Part of a ~2.5 mn sq. ft. landmark development by Ingka Centres, with direct access to retail, office and a high-footfall experiential ecosystem Premium Positioning in Undersupplied Market Micro-market characterized by strong RevPARs; opportunity to introduce a new-build, internationally branded upscale product positioned for premium pricing Capital Efficient Growth Model Structured as a long-term variable lease aligned with SAMHI’s capital-efficient strategy, with limited upfront capital deployment during the development phase, Impact On Portfolio Strengthens SAMHI’s presence in Delhi NCR through a high-quality upscale asset, reinforcing its capital- efficient lease-led growth strategy and enhancing portfolio mix with premium inventory in high-growth urban markets 35 Project Progress Design Advance Stage Construction Gr Floor Level MEP Fit-out Pre-Opening Architectural renders , actual may vary
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www.samhi.co.in One Financial District, Hyderabad ~260 rooms1 in a prime mixed-use development within Financial District Located in close proximity to large tech campuses with strong connectivity via Outer Ring Road Variable lease structure allowing for capital efficiency and greater risk- adjusted returns In discussion with operators for segment and brand finalization 1. Based on final segment, brand and plan room count may vary 36 Project Progress Design Planning Construction MEP Fit-out Pre-Opening Architectural renders , actual may vary
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www.samhi.co.in SAMHI’s largest hotel under development in Navi Mumbai 700 rooms1 combo-hotel ~350 room Westin & ~350 room Fairfield by Marriott One of the largest hotel development in the micro-market On the main arterial road and in close proximity to the new airport 1 - Based on final segment, brand and plan room count may vary 37 Project Progress Design Planning Construction MEP Fit-out Pre-Opening Architectural renders , actual may vary
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www.samhi.co.in New Hotel Expansion at Sriperumbudur A ~135 room “Marriott” branded* hotel to be developed alongside existing 153 room Fairfield by Marriott *Note: The development was earlier proposed to be 86 room extension of Fairfield by Marriott under the same brand and room count may vary based on final plans • Current asset with 153 room under Fairfield branding has already achieved an asset level RoCE of more than 30% • Micro-market has strong and stable industrial demand, which has been consistently performing well through out different cycles • Proposed Marriott, an upper upscale segment brand will help enhance the over pricing of the asset alongside capturing larger bandwidth of demand 38 Project Progress Design Planning Construction MEP Fit-out Pre-Opening Architectural renders , actual may vary
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www.samhi.co.in RARE India: capital-efficient leisure entry, with Marriott Bonvoy distribution overlay Hotels ~70 Rooms ~900 Indian states 19 Other countries 3 • Experiential leisure is the fastest- growing segment of Indian hospitality • SAMHI gets exposure without building the portfolio from scratch WHY Diversification beyond business hotels • RARE is positioned to become the exclusive 'Outdoor Collection by Marriott Bonvoy' platform across India, Nepal and Bhutan – a B2C reach SAMHI doesn't have today HOW Distribution via Marriott Bonvoy • Minimal upfront capital; revenue from fee income rather than asset ownership • Capital efficiency keeps balance- sheet discipline intact while opening a new revenue stream • Opportunistic acquisition potential to be evaluated ECONOMICS Asset-light / platform-style Current Status: Integration work in progress for Pilot Properties, targeted to go live in December 2026 on the Outdoor Collection by Marriott Bonvoy 39
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www.samhi.co.in About Us Renaissance, Ahmedabad
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www.samhi.co.in Unique portfolio of assets with a 14 sq. mt. room but competing with much larger room products in the market Low footprint and capex per room, coupled with high operating efficiency give us tremendous headroom to grow M i d-s c a l e U p p e r M i d-s c a l e U p p e r U p s c a l e & U p s c a l eL e i s u r e P o r t f o l i o Diversified portfolio across travel occasions: from business stays to curated leisure experiences Bridge to high-end hotels. Maintain efficiency of Mid- scale but allow us to leverage the market opportunity Individually curated hotels capturing the high-end travelers, MICE and local dining business Driven by conversions given complexities of development Asset Light Model Leisure PortfolioBusiness Asset Portfolio Curated platform of ~70 boutique resorts built on responsible tourism and authentic local experiences. Capture growing demand for bespoke, culturally-rich stays while leveraging Marriott's global distribution to expand the experiential travel segment 41
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www.samhi.co.in 5 Hotels +8 under development1 1,123 Rooms (+1,059 under development and 473 under rebranding2) ₹1,394mn Revenue (Q2FY27) Upper Upscale & Upscale Operating Under Development W HOTELS WESTIN HOTELS & RESORTS TRIBUTE PORTFOLIO Pune Jaipur Hyderabad Marriott Sriperumbudur 1. Include 5 hotels under development and 3 under rebrandingg from upper Mid-scale 2. Based on final segment, brand and plan room count of under development/ rebranding rooms may vary 42New openings are based on architectural renders , actual may vary Bangalore Upscale Noida WESTIN HOTELS & RESORTS Navi Mumbai TRIBUTE PORTFOLIO Bangalore
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www.samhi.co.in 14 Hotels +1 under development 2,047 Rooms (+3501 under development2; 2,047 operating rooms inc. 473 under rebranding2) ₹1,388mn Revenue (Q2FY27) Upper Mid-scale 1. Previously reported 473 under-development rooms included 86 rooms of Fairfield, Srip. Chennai. These have been moved to the Upscale under-development section, as the property is now being built as a Marriott with ~135 rooms. 2. Brand and plan room count of under development/ rebranding rooms may vary 43
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www.samhi.co.in 12 Hotels +1 under development 1,729 Rooms (+260 under development1) ₹582mn Revenue (Q2FY27) Mid-scale 1. Based on final segment, brand and plan room count of under development/ rebranding rooms may vary 44
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www.samhi.co.in ~70 Hotels ~900 Rooms Leisure Portfolio Asset Light Model 45
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www.samhi.co.in Marriott 2,263 67% Hyatt 520 16% IHG 582 17% Our hotels operate under some of the most well recognized global hotel brands This gives us access to loyalty programs, distribution and high degree of customer affinity Upcoming Brands TRIBUTE PORTFOLIO W HOTELS WESTIN HOTELS & RESORTS Chart represents share of Q2FY27 Asset Income (in ₹mn) Dominant share with leading operators Recent Addition to SAMHI’s Existing Business Portfolio Asset Light Model Leisure Portfolio Currently under transition, in collaboration with a global brand Marriott 46
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www.samhi.co.in Team that built the business Tanya Chakravarty General Counsel Ashish Jakhanwala Chairman, MD & CEO ▪ Experience across hotel operations, design, consulting and investment ▪ Previously worked at InterGlobe Hotels (Director, Development) and Pannell Kerr Forster (Consultant) ▪ Previously worked with Phoenix Legal and Unitech ▪ Bachelor’s degree in law from Army Institute of Law, Mohali Gyana Das EVP – Corporate Strategy & Head of Investments ▪ Previously worked with InterGlobe Hotels ▪ Masters in City Planning; IIT, Kharagpur & Bachelors in Architecture; NIT, Nagpur Rajat Mehra CFO ▪ Previously worked with Religare Corporate Services as an EVP - Finance ▪ CA with diploma in Management from IGNOU Sanjay Jain Senior Director, Corporate Affairs, Company Secretary and Compliance Officer ▪ Previously worked with Beekman Helix India and DLF ▪ B.Com from University of Delhi, Cost Acct. and CS 14+ yrs In SAMHI 15+ yrs In SAMHI 15+ yrs In SAMHI 9+ yrs In SAMHI Ayush Singhal SVP - Finance Sangeeta Mohan VP – Asset Management 3+ yrs In SAMHI 12+ yrs In SAMHI Nakul Manaktala SVP – Investment 7+ yrs In SAMHI
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www.samhi.co.in Strong governance with highly experienced board members Ashish Jakhanwala Chairman, MD & CEO Krishan Dhawan Independent Director Manav Thadani Non-Executive & Non- Independent Director Michael David Holland Independent Director Archana Capoor Independent Director • Accor • Interglobe Hotels • Pvt. Ltd. • Pannel Kerr Forster Consultants Pvt. Ltd. • Hotelivate Pvt. Ltd. • HVS Licensing LLC • Nexus Select Mall Management • Embassy Office Parks Management Services Pvt. Ltd. • Assetz Property Management Services Pvt. Ltd. • JLL • Tourism Finance Corporation of India • Birla Cable Limited • S Chand and Company Ltd. • Sandhar Technologies Ltd. • Bank of America • Oracle India Ajish Abraham Jacob Non-Executive & Non- Independent Director • Asiya Capital Investments Company K.S.C.P. • Albazie & Co (RSM) • Ernst & Young Aditya Jain Independent Director • International Market Assessment (India) Pvt. Ltd. • PR Pandit Public Relations Pvt. Ltd. • Chemplast Sanmar Ltd. 48
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www.samhi.co.in Historical Consolidated P&L Summary 6,276 1,793 3,331 7,614 9,787 11,386 12,790 6,510 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1 FY27 Total Income (₹mn) 1,720 -597 218 2,606 2,879 4,251 4,626 2,251 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1 FY27 Consolidated EBITDA (₹mn) (2,999) (4,777) (4,433) (3,386) (2,346) 855 5,665 660 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1 FY27 PAT (₹mn) 491. FY25 financials were restated on account of sale of Caspia Delhi as the asset was recognized under “discontinued operation” 1 1
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www.samhi.co.in Historical Consolidated Quarterly P&L Summary 1,924 2,232 2,733 2,899 2,542 2,669 2,941 3,234 2,873 2,963 3,419 3,535 3,083 3,427 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 Total Income (₹mn) 473 540 904 962 891 967 1,115 1,278 1,056 1,105 1,263 1,202 1,013 1,238 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 Consolidated EBITDA (₹mn) (835) (880) (744) 113 42 126 228 459 192 998 481 3,994 249 411 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 PAT (₹mn) 1) EBITDA reported for Q3’26, Q4’26, Q1’27 and Q2’27 is post GST impact. 2) FY25 financials were restated on account of sale of Caspia Delhi as the asset was recognized under “discontinued operation” 50
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www.samhi.co.in Glossary # Hotel Brand City Location Operator Segment Operating Rooms Addition/ Renovation Total 1 Hyatt RegencyTM Pune Nagar Road Hyatt Upper Upscale & Upscale 301 22 323 2 Renaissance Ahmedabad SG Highway Marriott Upper Upscale & Upscale 155 - 155 3 Sheraton Hyderabad Gachibowli Marriott Upper Upscale & Upscale 326 - 326 4 Courtyard by Marriott Bangalore Outer Ring Road Marriott Upper Upscale & Upscale 170 - 170 5 Hyatt PlaceTM Gurugram Udyog Vihar Hyatt Upper Upscale & Upscale 171 - 171 6 Four Points by Sheraton Visakhapatnam City Center Marriott Upper Mid-scale 123 - 123 7 Fairfield by Marriott Bangalore Whitefield Marriott Upper Mid-scale 104 - 104 8 Fairfield by Marriott Bangalore City Center Marriott Upper Mid-scale 148 - 148 9 Fairfield by Marriott Bangalore Outer Ring Road Marriott Upper Mid-scale 166 - 166 10 Fairfield by Marriott Coimbatore Airport Marriott Upper Mid-scale 126 - 126 11 Fairfield by Marriott Chennai Sriperumbudur Marriott Upper Mid-scale 153 - 153 12 Fairfield by Marriott Pune Kharadi Marriott Upper Mid-scale 109 - 109 13 Fairfield by Marriott Goa Anjuna Marriott Upper Mid-scale 130 - 130 14 Holiday Inn Express Ahmedabad SG Road IHG Mid-scale 130 - 130 15 Holiday Inn Express Bangalore Whitefield IHG Mid-scale 217 - 217 16 Holiday Inn Express Pune Hinjewadi IHG Mid-scale 104 - 104 17 Holiday Inn Express Gurugram Sohna Road IHG Mid-scale 205 - 205 18 Holiday Inn Express Pune Pimpri IHG Mid-scale 142 - 142 19 Holiday Inn Express Hyderabad Hi-tech City IHG Mid-scale 150 - 150 20 Holiday Inn Express Nashik Ambad IHG Mid-scale 101 - 101 21 Holiday Inn Express Hyderabad Banjara Hills IHG Mid-scale 170 - 170 22 Holiday Inn Express Bangalore Tumkur Road IHG Mid-scale 115 - 115 23 Holiday Inn Express Chennai Thoraipakkam IHG Mid-scale 149 - 149 24 Holiday Inn Express Greater Noida Knowledge Park IHG Mid-scale 133 - 133 25 Fairfield by Marriott Hyderabad Gachibowli Marriott Upper Mid-scale 232 - 232 26 Four Points by Sheraton Pune Viman Nagar Marriott Upper Mid-scale 217 Rebranding 217 27 Fairfield by Marriott Ahmedabad Ashram Road Marriott Upper Mid-scale 147 - 147 28 Four Points by Sheraton Jaipur City Square Marriott Upper Mid-scale 114 Rebranding 114 29 Fairfield by Marriott Chennai Mahindra World Centre Marriott Upper Mid-scale 136 - 136 30 Trinity Bangalore Whitefield Marriott Upper Mid-scale 142 Rebranding 142 31 Holiday Inn Express Kolkata Rajarhat IHG Mid-scale 113 - 113 Sub-total Operating 4,899 22 4,921 32 Westin Bangalore Whitefield Marriott Upper Upscale & Upscale - 220 220 33 W Hyderabad Hitec City Marriott Upper Upscale & Upscale - 170 170 34 Mid-scale Hyderabad Financial District - Mid-scale - 260 260 35 Westin Navi Mumbai MIDC Marriott Upper Upscale & Upscale - 350 350 36 Fairfield by Marriott Navi Mumbai MIDC Marriott Upper Mid-scale - 350 350 37 Upper Upscale Asset Noida Sector 51 - Upper Upscale & Upscale - 162 162 38 Marriott Chennai Sriperumbudur Marriott Upper Upscale & Upscale - 135 135 Sub-total - New Addition - 1,647 1,647 - Total - Aset Ownership 4,899 1,669 6,568 39-108 RARE India Pan India Leisure ~900 ~900 Grand Total 5,799 1,669 7,468 51
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www.samhi.co.in Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by SAMHI Hotels Limited (the “Co mpany”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed infor mation about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but th e Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the content s of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Prese ntation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward -looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainti es and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementa tion, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels o f activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward -looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not respons ible for such third-party statements and projections. The equity shares of SAMHI Hotels Ltd. were listed on National Stock Exchange of India Ltd. (NSE) and BSE Ltd. (BSE) on 22 Se ptember 2023. Accordingly, the unaudited standalone and consolidated financial results for the quarter ended 30th September, 2026 has been drawn up in accordance with the requirement of Regulation 33 of the Listing Regulations.
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www.samhi.co.in Page 53 Thank Y ou Company SAMHI Hotels Ltd. CIN: L55101DL2010PLC211816 Mr. Gyana Das Executive Vice President & Head of Investments compliance@samhi.co.in www.samhi.co.in Investor Relations Advisors Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Ms. Ami Parekh/ Mr. Rahul Agarwal +91- 8082466052/ +91- 9821438864 ami.parekh@sgapl.net /rahul.agarwal@sgapl.net www.sgapl.net