Please find attached Newspaper cuttings of publication of Right Issue Programme

September 1, 2026 The Deputy Manager Department of Corporate Services BSE Limited P. J. Towers, Dalal Street, Fort Mumbai – 400 001 Ref: Scrip Code 530557 Sub: Newspaper advertisement pertaining to Right Issue Programme Respected Sir or Madam, Please find enclosed a copy of newspaper publications of Issue Programme for Rights Issue as published in the Newspaper - Financial Express (English), Mumbai Lakshdeep (Marathi) and Jansatta (Hindi). The advertisements were published in English and Marathi newspapers on September 1, 2026. This information will also be hosted on the Company’s website, at www.nclfin.com Thanking You, Yours truly, For NCL RESEARCH & FINANCIAL SERVICES LIMITED GOUTAM BOSE DIN: 02504803 MANAGING DIRECTOR Enclosed: Newspaper cuttings 4 _§Jidma, {X. 01 gßQ>|~a>, 2026 _w§~B© bjXrn This advertisement is for information purposes only and not for publication, distribution, or release directly or indirectly outside India. This is not an announcement for the offer document. All capitalized terms used herein and not defined herein shall have the meaning assigned to them in the Letter of Offer dated August 21, 2026 (the “Letter of Offer” or “LOF”) filed with the BSE Limited (“BSE”) and the Securities and Exchange Board of India (“SEBI”) for information and dissemination on the SEBI's website pursuamt to the proviso to Regulation 3 of the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI (ICDR) Regulations”). NCL RESEARCH AND FINANCIAL SERVICES LIMITED Corporate Identification Number: L65921MH1985PLC284739 Our Company was originally incorporated as “Navneet Commercial Company Limited” on February 4, 1985 under the Companies Act, 1956, vide Certification of Incorporation bearing registration number 7001 of 1985 issued by the Registrar of Companies, Uttar Pradesh, Kanpur. We received Certificate of Commencement of Business dated April 15, 1985 issued by the Registrar of Companies, Uttar Pradesh, Kanpur. Subsequently, the name of our Company was changed to “NCL Research And Financial Services Limited” and a fresh Certificate of Incorporation consequent upon change of name was issued on September 9, 1992 by the Registrar of Companies, Uttar Pradesh, Kanpur. Registered Office: 208, 2nd Floor, 212, West Wing, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra, India Tel: +91 22 3537 4523; Website: www.nclfin.com; E-mail: ncl.research@gmail.com Contact Person: Priya Mittal, Company Secretary and Compliance Officer FOR PRIVATE CIRCULATION TO ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY ONLY ISSUE* OF UP TO 49,94,86,400 EQUITY SHARES WITH A FACE VALUE OF ? 1/- EACH (“RIGHTS EQUITY SHARES”) FOR CASH AT A PRICE OF ?1/- PER RIGHTS EQUITY SHARE (INCLUDING A PREMIUM OF `NIL PER RIGHTS EQUITY SHARE) FOR AN AMOUNT AGGREGATING UPTO ?4,994.86 LAKHS ON RIGHTS BASIS IN THE RATIO* OF 7 RIGHTS EQUITY SHARES FOR EVERY 15 FULLY PAID UP EQUITY SHARES) HELD BY THE EQUITY SHAREHOLDERS ON THE RECORD DATE*, I.E. THURSDAY, AUGUST 27, 2026. THE ISSUE PRICE IS 1 TIME OF THE FACE VALUE OF THE RIGHTS EQUITY SHARES. #Assuming full subscription in the Issue, subject to the finalization of the Basis of Allotment. NOTICE TO ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY – ISSUE PROGRAMME ISSUE PROGRAMME ISSUE OPENS ON LAST DATE FOR ON MARKET RENUNCIATION* ISSUE CLOSES ON# THURSDAY, SEPTEMBER 3, 2026 TUESDAY, SEPTEMBER 15, 2026 FRIDAY, SEPTEMBER 18, 2026 * Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncees on or prior to the Issue Closing Date. # Our Board will have the right to extend the Issue Period as it may determine from time to time but not exceeding 30 days from the Issue Opening Date (inclusive of the Issue Opening Date). Further, no withdrawal of Application shall be permitted by any Applicant after the Issue Closing Date. ASBA* Simple, Safe, Smart way of Application - *Application Supported by Blocked Amount (ASBA) is a better way of applying to issues by simply blocking the fund in the bank account, investors can avail the same. For further details read Make use of it!!! section on ASBA below FACILITIES FOR APPLICATION IN THIS ISSUE Regulation S under the U.S. Securities Act (“Regulation S”) to Eligible Equity Shareholders located in jurisdictions where such offer and sale of the Rights Equity Shares is In accordance with Regulation 76 of the SEBI ICDR Regulations, the SEBI Rights Issue Circulars and the ASBA Circulars, all Investors desiring to make an Application in this permitted under laws of such jurisdictions. I/ we understand that the Issue is not, and under no circumstances is to be construed as, an offering of any Rights Equity Shares or Issue are mandatorily required to use the ASBA process. Investors should carefully read the provisions applicable to such Applications before making their Application through Rights Entitlements for sale in the United States, or as a solicitation therein of an offer to buy any of the said Rights Equity Shares or Rights Entitlements in the United States. I/ ASBA. For details, see “Making of an Application through the ASBA process” on page no. 63 of the Letter of Offer, respectively. we confirm that I am/ we are (a) not in the United States and eligible to subscribe for the Rights Equity Shares under applicable securities laws, (b) complying with laws of Making of an Application through the ASBA process jurisdictions applicable to such person in connection with the Issue, and (c) understand that neither the Company, nor the Registrar or any other person acting on behalf of the Shareholders, wishing to participate in this Issue through the ASBA facility, is required to have an ASBA enabled bank account with an SCSB, prior to making the Application. Company will accept subscriptions from any person, or the agent of any person, who appears to be, or who the Company, the Registrar or any other person acting on behalf of Shareholders desiring to make an Application in this Issue through ASBA process, may submit the Application Form in physical mode to the Designated Branches of the SCSB the Company have reason to believe is in the United States or is outside of India and ineligible to participate in this Issue under the securities laws of their jurisdiction. or online/ electronic Application through the website of the SCSBs (if made available by such SCSB) for authorizing such SCSB to block Application Money payable on the I/we hereby make the representations, warranties, acknowledgments and agreements set forth in the section of the Letter of Offer titled “Restrictions on Purchases and Application in their respective ASBA Accounts. Resales” on page 88. Shareholders should ensure that they have correctly submitted the Application Form and have provided an authorisation to the SCSB, via the electronic mode, for blocking I/ We understand and agree that the Rights Entitlements and Rights Equity Shares may not be reoffered, resold, pledged or otherwise transferred except in an offshore funds in the ASBA Account equivalent to the Application Money mentioned in the Application Form, as the case may be, at the time of submission of the Application. transaction in compliance with Regulation S, or otherwise pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. For the list of banks which have been notified by SEBI to act as SCSBs for the ASBA process, please refer to Securities Act. https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=34. I/ We acknowledge that Our Company and the Registrar shall not be responsible if the Applications are not uploaded by SCSB or funds are not blocked in the Investors’ ASBA Please note that subject to SCSBs complying with the requirements of the SEBI circular bearing reference numb [Showing first 8,000 characters — download PDF for full document]