The Board of Directors of the Company considered and approved 1. Alteration in the objects for utilization of the net proceeds of the Rights Issue of Equity Shares of the Company and ....

September 03, 2026 The Department of Corporate Services, The BSE Ltd., Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 BSE Code: 531525/890230 Sub: - Outcome of the meeting of the Board of Directors of Ace Software Exports Limited (“the Company”) held on September 03, 2026 Dear Sir, In continuation of our letter dated August 31, 2026, and in accordance with regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), we wish to inform you that the Board of Directors of the Company, at its meeting held today i.e. September 03, 2026 has inter alia considered and approved the following matters: - 1. Alteration in the objects for utilization of the net proceeds of the Rights Issue of Equity Shares of the Company and change in the Objects of Issue as stated in the Letter of Offer dated November 14, 2025 The Board has approved alteration in the objects for utilization of the net proceeds of the Rights Issue of Equity Shares of the Company and change in the Objects of Issue as stated in the Letter of Offer dated November 14, 2025, subject to approval of members at the ensuing Annual General Meeting of the Company and such other approvals as may be required. Key particulars of the variation are enclosed as Annexure A 2. Modification of the terms of the Rights Issue with respect to the period for making outstanding call(s) on partly paid-up Equity Shares The Board has approved the modification of the terms of the Rights Issue with respect to the period for making outstanding call(s) on partly paid-up Equity Shares, subject to approval of members at the ensuing Annual General Meeting of the Company and such other approvals as may be required. As per the Letter of Offer dated November 14, 2025, the Company was required to complete all calls on the partly paid- up Rights Equity Shares within 12 (twelve) months from the date of allotment, i.e., on or before December 19, 2026. Since the Company has appointed a Monitoring Agency in terms of Regulation 82 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), it shall, in terms of the proviso to Regulation 89 of the SEBI ICDR Regulations, not be necessary to call the outstanding subscription money within twelve months from the date of allotment of the Rights Equity Shares. The proposed modification is limited to the timeline for making the outstanding call(s) and does not result in any change in the amount of the Rights Issue or the number of Equity Shares allotted. The First Call on the partly paid-up Equity Shares has been made, with call money payable from September 2, 2026 to September 16, 2026. 3. Execution of share purchase agreement (“SPA”) with existing shareholders of QeApps Private Limited (“QeApps”) The Board has approved the execution of Share Purchase Agreement (“SPA”) between Ace Software Exports Limited (“Company”), existing shareholders of QeApps Private Limited (“Sellers”), in terms of which, the Sellers have agreed to sell 10,000 (Ten Thousand) equity shares of QeApps Private Limited at a price of ₹ 12,000/- per equity shares to the Company, subject to the terms and conditions as set out in the SPA. Upon completion of the aforesaid transaction, the Company will hold 100% of the paid-up equity share capital of QeApps and QeApps shall consequently become a Wholly Owned Subsidiary of the Company. The Board of Directors of the Company has authorized Mr. Amit M. Mehta, Managing Director & CEO to sign on behalf of the Company to give effect to its obligations under the SPA. The details as required under SEBI LODR Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 are enclosed as Annexure B. 4. Approval of agenda related to Annual General Meeting The ensuing Annual General Meeting of the Company is scheduled to be held on Monday, 28th September, 2026 at 01:00 P.M. at 9th Floor, Solitaire Connect, Nr. Gallops Motors, Makarba, S.G. Highway, Ahmedabad, Gujarat, 380051. The copy of Notice of 32nd Annual General Meeting and Annual Report for the financial year 2025-26 will be submitted to exchange as soon as the same is dispatched to the Shareholders of the Company. The Company has provided its Shareholders, the facility to cast their vote by electronic means i.e. ‘Remote e-voting’ on all the resolutions as set forth in the Notice of 32nd Annual General Meeting. The details of e-voting are as under: E-voting start date – 25.09.2026 (9:00 a.m.) E-voting end date – 27.09.2026 (5.00 p.m.) The cut-off date for determining rights of entitlement of remote e-voting is 21st September, 2026. The Board has approved other agenda for ensuing AGM. The Board Meeting commenced at 4:00 p.m. and concluded at 5.00 p.m. on September 03, 2026. Please take the same on your records. Thanking you, Yours faithfully, For, Ace Software Exports Limited Mansi Patel Company Secretary & Compliance Officer Annexure A Object-wise details of the proposed variation in the Objects of the Rights Issue of Equity Shares pursuant to the Letter of Offer dated November 14, 2025, in terms of Section 27 of the Companies Act, 2013. (₹ in Lakhs) Original Objects of the Issue Amount Actual Amount proposed to be varied / Revised Balance as per Letter of Offer allocated amount reallocated and details thereto Amount to be for utilized as Proposed Utilized object on to be 30.06.2026 Deployed Investment in QeMFG Private 1,000.00 300.00 No variation proposed. The 1,000.00 700.00 Limited (formerly AQE Company proposes to retain Techtools Private Limited) by ₹1,000.00 lakhs for this Object, way of subscription of equity including the amount already shares deployed. Investment in strategic 1,000.00 2.62 ₹660.00 lakhs proposed to be 340.00 337.38 initiatives towards global market reallocated. The Company expansion and brand building proposes to retain ₹340.00 lakhs, including ₹2.62 lakhs already utilized, towards this Object. Development, marketing and 400.00 0.00 The entire unutilized amount of 0.00 0.00 execution of robotic automation ₹400.00 lakhs is proposed to be solutions under new brand, reallocated. "QeMatic" will no "QeMatic" longer remain a separately earmarked Object of the Rights Issue. Investment in Organizational 340.00 6.61 ₹240.00 lakhs proposed to be 100.00 93.39 Transformation Program to reallocated. The Company elevate the Company from mid- proposes to retain ₹100.00 lakhs, market to an enterprise grade including ₹6.61 lakhs already professional technology utilised, towards this Object. organization Acquisition of equity shares of 703.80 703.80 No variation proposed. The entire 703.80 0.00 QeLearn Private Limited amount allocated towards this (formerly Theia Education Object has been utilised. Private Limited) from its existing shareholders Additional investment in 552.00 552.00 Additional ₹100.00 lakhs 652.00 100.00 QeLearn Private Limited proposed to be allocated towards (formerly Theia Education this Object, to support the Private Limited) by way of continuing funding and growth subscription of equity shares requirements of QeLearn Private Limited. Acquisition of equity shares of 0.00 0.00 New Object proposed to be 1,200.00 1200.00 QeApps Private Limited from its introduced. ₹1,200.00 lakhs existing shareholders (New proposed to be allocated towards Object) acquisition of equity shares of QeApps Private Limited from its existing shareholders. Funding of General Corporate 1,983.66 549.16 No variation proposed. The 1,983.66 1,434.5 Purposes and unidentified existing allocation shall continue acquisitions to be available for General Corporate Purposes and unidentified acquisitions, subject to applicable SEBI regulations. Issue related expenses 38.75 38.75 No variation proposed. The entire 38.75 0.00 amount allocated towards Issue related expenses has been utilised. TOTAL 6,018.21 2,152.94 6,018.21 3,865.27 Note: The aggregate amount proposed to be deployed towards the Ob [Showing first 8,000 characters — download PDF for full document]