MAJESTIC AUTO LTD : UPDATE ON RESOLUTION PLAN IMPLEMENTATION

• Majestic Auto Limited has successfully implemented the Resolution Plan approved for Sharan Hospitality Private Limited (SHPL). • The Monitoring Committee has been dissolved, and the reconstituted Board of Directors of SHPL has assumed management and control. • SHPL's Board approved the issuance of 50,00,000 Bonus Redeemable Preference Shares, subject to member approval, which was subsequently accorded. • Corporate actions for Non-Convertible Debentures allotted to Majestic Auto Limited have been completed and credited. • The company will transfer Bonus RPS, Equity Shares, and Non-Convertible Debentures to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund upon completion. • Annexure A provides details of the Securities Purchase and other transaction agreements with NovumLake Property Fund and 360 ONE Real Assets Advantage Fund.

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