Kamat Hotels (India) Limited at its board meeting held on May 27, 2023, approved the appointment of Mr. Vishal Vithal Kamat as Additional Director of the Company with effect from May 27, 2023, hold office up to the upcoming Annual General Meeting of the Company, subject to ratification by the members at the upcoming Annual General Meeting of the Company; Mr. Kaushal Kamalkishore Biyani as a Lenders Nominee Director (Non-Executive Non Independent Director) on the Board of the Company with effect from 27th May, 2023; Mr. Hrishikesh Bhalchandra Parandekar as a Lenders Nominee Director (Non-Executive Non Independent Director) on the Board of the Company with effect from May 27, 2023; Mr. Apurva Sohanlal Muthalia as a Non Executive Independent Director (Additional Director) on the Board of the Company with effect from May 27, 2023, hold office up to the upcoming Annual General Meeting of the Company, subject to ratification by the members at the upcoming Annual General Meeting of the Company for his appointment as Independent Director for a term of 5 years; Mr. Tej Mayur Contractor as a Non Executive Independent Director (Additional Director) on the Board of the Company with effect from May 27, 2023, hold office up to the upcoming Annual General Meeting of the Company, subject to ratification by the members at the upcoming Annual General Meeting of the Company for his appointment as Independent Director for a term of 5 years and Mr. Ajit Naik as a Non Executive Independent Director (Additional Director) on the Board of the Company with effect from May 27, 2023, hold office up to the upcoming Annual General Meeting of the Company, subject to ratification by the members at the upcoming Annual General Meeting of the Company for his appointment as Independent Director for a term of 5 years. Mr. Vishal V. Kamat is a science graduate (BSc) with specialisation in Hotel Management from the Institute of Hotel Management and Catering Technology and Applied Nutrition (IHMCTAN), Mumbai. He has extensive experience in the Hotel Industry and has been closely associated with the operations of the Company.

Mr. Kaushal Biyani si B.com (Narsee Monjee); CA Rank Holder (AIR 22). He Leads the structured credit business Leads the structured credit business, 16+ years' experience, previously part of Ernst & Young and Essar Group, Mr. Hrishikesh B Parandekar is Gold medallist at IIM Ahmedabad (1994) He is Senior partner has more than 28 years' experience and Former Morgan Stanley MD, McKinsey Senior Advisor, CEO of PE-backed financial services businesses in India. Apurva Muthalia is a senior investment professional with over 2 decades of asset management, project financing & operating experience across the Indian financial services space.

He has raised, invested & returned monies as well as established & overseen operating platforms in the real estate & fund management spaces. Apurva has strong domain knowledge across the real assets sector having evaluated & invested (equity, debt & mezzanine capital) across both publicly traded & private opportunities in the office, residential, warehousing, retail, hospitality, healthcare as well as alternative real estate businesses & platform buy-outs. Apurva has held leadership positions earlier, with the Fosun Group (Managing Director - Fosun Hive, India), Aditya Birla Capital (CEO, ABREF), JL&FS Investment Managers (CEO lL&FS Milestone Core Plus Fund) & J.P. Morgan Asset Management (CIO - India Real Estate business).

As part of these assignments, he has held various Investment & Advisory Committee positions as well as represented his principals on various Company Boards. Mr. Muthalia is a Member of the Royal Institution of Chartered Surveyors (MRICS). He received a Master's degree in Management Studies (specializing in Finance) and a Bachelor's degree in Commerce & Accounting from the University of Mumbai.

Mr. Tej Mayur Contractor B.Com H.R College of Commerce and Economics, M.B. A - S.P Jain Institute of Management and Research, Diploma in Freight Forwarding - Indian Institute of Freight Forwarding, Train the Trainers Course - International Federation of Freight Forwarders (FIAT A), Trainer with Bombay University (Garware Institute) Trainer with JBS Academy, Ahrnedabad, Trainer with Indian Institute of Freight Forwarders also Members in Chairman, Advisory Body Information Technology International Federation of Freight Forwarders, Geneva; Member of FIAT A Logistics Institute, International Federation of Freight Forwarders, Geneva; Advisory Body Legal Matters, International Federation of Freight Forwarders, Geneva; International Chamber of Commerce, Incoterms 2010 + Transport Project Committee, CLP Commission, Member (Simplification of lncoterms 2010); International Chamber of Commerce, Incoterms .' 2010 Revision, Transport Working Group (Now known as lncoterms 2020); Brihanmumbai Customs Brokers Association, Shipping Line Committee Chairman; Round Table India Bombay South Round Table 26 - Charity Organization Chairman (2011-2012); National Board Round Table International Relations Convener 2012-2016; Area Board Area 3 Round Table International Relations Convener 2012-2013 and President, Indian Institute of Freight Forwarders is the Training Arm of the National Association of Freight Forwarders and Customs brokers in India- FFF Al. Mr. Ajit Naik brings a wide range of expertise in the space of customer life cycle management, Business strategy design and financial planning.

He has honed these skills through a career spanning 25 years in financial corporations and consumer centric organizations as well another 5 years now as an entrepreneur. After his MBA from the University of Pune, he has worked with corporates like ICICI Bank, Birla Sun Life Insurance (Aditya Birla. Financial Services), The Gramophone Company of India Ltd, amongst others.

In his entrepreneurial journey, he is associated with a realty company Mis Entity Developers Pvt Ltd. as a Managing Director, which is currently developing a 23 storied residential tower at Borivali East. Ajit also has a wide consulting experience built by engaging with many SMEs and NGOs helping them not only bootstrap, but also build a customer centric service.