Monitoring Agency Report

LEELA PALACES HOTELS & RESORTS LIMITED (formerly known as Schloss Bangalore Limited) Registered Office: The Leela Palace, Diplomatic Enclave, Africa Avenue, Netaji Nagar New Delhi South Delhi 110023 Tel No. +91 (11) 39331234 Email Id: cs@theleela.com CIN: L55209DL2019PLC347492 Website: www.theleela.com Ref No. THELEELA/2026-27/031 Date: July 31, 2026 To To Sr. General Manager Sr. General Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai – 400001 Bandra (E), Mumbai – 400 051 Scrip Code- 544408 Symbol- THELEELA ISIN - INE0AQ201015 ISIN - INE0AQ201015 Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Dear Sir/ Madam, Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report for the quarter ended June 30, 2026, issued by ICRA Limited, Monitoring Agency, appointed to monitor the utilization of proceeds of the Initial Public Issue (IPO) of the Company. The above report has been placed before and considered by the Audit Committee in its meeting held today i.e. on July 31, 2026. The above information will also be available on the website of the Company at www.theleela.com/investors. We request you to kindly take the above on record. Thanking you, For Leela Palaces Hotels & Resorts Limited (formerly known as Schloss Bangalore Limited) Jyoti Maheshwari Company Secretary and Compliance Officer Membership No.: A24469 Encl.: as Above ICRA Limited Date: July31, 2026 Mr.RaviShankar Head of Asset Management & CFO, The Leela Palaces, Hotels and Resorts Equinox Business Park, Kurla West, Mumbai 400070 India. Dear Sir, Re: Final Monitoring Agency report of Leela Palaces Hotels & Resorts Limited (Formerly Known as Schloss Bangalore Limited)forQ1FY2027 Please refer to agreement dated February05, 2025,appointing ICRA Limited as the Monitoring Agency (MA) forLeela Palaces Hotels & Resorts Limited Initial Public Offer. After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q1FY2027. Please note that the Monitoring Agency report does not constitute a commentary on the quality of the objects of the issue, appropriateness or reasonableness of costs or spending by Leela Palaces Hotels & Resorts Limited against any objects / heads or assurance on outcome of such spending. We thank you for your kind cooperation extended during the course of Q1 FY2027. Should you require any clarification, please do not hesitate to get in touch with us. We look forward to your communication and assure you of our best services. With kind regards For ICRA Limited Parul Goyal Narang Vice President & Head-Process Excellence parul.goyal@icraindia.com Building No. 8, 2ndFloor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN : L749999DL1991PLC042749 Email: info@icraindia.com Gurugram 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. :+91.11.23357940-41 RATING RESEARCH INFORMATION Sensitivity Label : Confidential June 2026 MONITORING AGENCY REPORT Name of the Issuer: Leela Palaces Hotels & Resorts Limited (Formerly Known as Schloss Bangalore Limited) For quarter ended: June 30, 2026 Name of the Monitoring Agency: ICRA Limited (a) Deviation from the objects of the issue: No deviation - The utilization of the issuance proceeds is in line with the objects of the issue. (b) Range of deviation: Not Applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that we do not perceive any conflict of interest in such relationship/ interest while monitoring and reporting the utilization of the issue proceeds by the issuer. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by Signature: Parul Goyal Narang Vice President & Head- Process Excellence Analyst: Sumana Guha Quality Analyst: Dhwani Vinchhi June 2026 1. Issuer Details Name of the Issuer: Leela Palaces Hotels & Resorts Limited (Formerly Known as Schloss Bangalore Limited) Name(s) of the promoters: Promoters BSREP III JOY (TWO) HOLDINGS (DIFC) LIMITED BSREP III TADOBA HOLDINGS (DIFC) PVT LTD PROJECT BALLET CHENNAI HOLDINGS (DIFC) PVT LTD PROJECT BALLET GANDHINAGAR HOLDINGS (DIFC) PVT LTD PROJECT BALLET HMA HOLDINGS (DIFC) PVT LTD PROJECT BALLET UDAIPUR HOLDINGS (DIFC) PVT LTD PROJECT BALLET BANGALORE HOLDINGS (DIFC) PVT LTD Source: Prospectus Industry/ sector to which it belongs: - Hospitality 2. Issue Details Issue Period: Opening date- May 26,2025 Closing date- May 28, 2025 Type of Issue: Initial Public Offer Type of specified securities: Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading for the offer. Issue Size (Rs. Crore): INR 3,500.00 Crore With OFS portion: INR 3,500.00 Crore Excluding OFS portion: INR 2,500.00 Crore. Net proceeds: INR 2,364.40 Crore (Excluding Issue Related Expenses) Note: ICRA has monitored Gross Proceeds of INR 2,500.00 Crore in Q1FY2027 June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered by the Comments of the Particulars Reply Monitoring Agency for the Monitoring Agency Board of preparation of report Directors -Peer Reviewed CA- Certificate -Confirmation from Whether all utilization is as per management the disclosures in the Offer Yes -Bank statement of the - No deviation observed Document? proceeds account/escrow account/corresponding bank account statements Whether shareholder approval has been obtained in case of material deviations# from No comments - Applicable management expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the No No comments - management issue has changed? Is there any major deviation observed over the earlier No No deviation observed No comments - monitoring agency reports? Whether all Government/ statutory approvals related to Not No comments the object(s) have been Applicable management obtained? Whether all arrangements pertaining to technical Not No comments assistance/ collaboration are in Applicable manage [Showing first 8,000 characters — download PDF for full document]