U.S.$ 200,000,000 5.0 per cent. Convertible Bonds due 2015 (the Bonds)

• Security Code: 532627
• Company: JPPOWER

Jaiprakash Power Ventures Ltd has informed BSE that the Bonds matured on February 13, 2015. The Company entered into a standstill agreement dated February 12, 2015 (as amended, the “Interim Standstill Agreement”) with certain holders of the Bonds (and certain other holders acceded to the Interim Standstill Agreement at a later date) that collectively hold 81.04% per cent, of the aggregate principal amount of the Bonds. Pursuant to the Interim Standstill Agreement, the standstill period extends until March 03, 2015.

Further, the Company has entered into a further standstill and voting agreement dated March 03, 2015 (the “Standstill and Voting Agreement”) with certain holders of the Bonds that collectively hold 81.04% per cent, of the aggregate principal amount of the Bonds (the “Participating Bondholders”). The Standstill and Voting Agreement shall remain in effect until April 30, 2015, subject to its terms.

The Standstill and Voting Agreement annexes the key terms on which the Company and the Participating Bondholders have reached an agreement in relation to effecting a rescheduling of the Company’s redemption obligations in respect of the Bonds (including the extension of the maturity date) (the “Rescheduling”). On the basis of the Standstill and Voting Agreement, the Company will issue a notice on March 06, 2015, convening a meeting of bondholders, to be held on March 30, 2015 (the “Meeting”).

The key terms of the Rescheduling which will be put to vote at the Meeting are:

• An extension of the maturity date to February 13, 2016;

• An instalment-based redemption during the extended tenor, including that the Company will pay US $ 25 million on the date the Rescheduling becomes effective and will pay a further US $ 75 million upon receipt of the proceeds of the sale of its Baspa-II Hydro-electric project and KarchamWangtoo Hydro-electric project;

• Balance amount is payable on or before February 13, 2016, linked to certain liquidity events in relation to the Company requiring mandatory prepayment.

The terms of the Rescheduling remain subject to receipt of approval of the Reserve Bank of India.