Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer in relation to the Open Offer to the Public Shareholders of GSL Securities Ltd ("Target Company").

Draft Letter of Offer THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This Letter of Offer (“LoF”) is sent to you as a public shareholder (as defined below) of GSL Securities Limited (“GSL”/“Target Company”). If you require any clarifications about the action to be taken, you may consult your stockbroker or Investment Consultant or Manager to the Offer or Registrar to the Offer. In case you have recently sold your shares in the Target Company, please hand over this LoF and the accompanying form of acceptance and Transfer Deed to the member of the Stock Exchange through whom the said sale was affected. OPEN OFFER BY Acquirers Address Contact No. Email ID 1) Mr. Shrikant Mitesh Plot No. 20-2, 526 Bhangdiya House, smb@themksgroup.com +91 95455 99953 Bhangdiya Near Getwell Hospital, Dhantoli, 2) Ms. Aarti Shrikant Bhangdiya Patwardhan Ground, Nagpur-440012, +91 94228 66129 aartibhangdiya4@gmail.com 3) Ms. Sonal Kirtikumar Maharashtra, India +91 95455 99953 bhangdiyaaparna@gmail.com Bhangdiya to acquire up to 11,11,526 fully paid-up equity shares having face value of ₹10 each representing 26.00% of Voting Capital of the Target Company at a price of ₹42.00 per equity share (“Offer Price”), payable in cash in accordance with Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and amendments thereto (“SEBI (SAST) Regulations, 2011”) from the public shareholders GSL SECURITIES LIMITED (CIN: L65990MH1994PLC077417) Registered Office at: 1/25 & 1/26, 1st Floor, Tardeo Airconditioned Market Society, Tardeo Road, Mumbai-400034, Maharashtra, India. Telephone No.: +91 22 6916 5100 | Email ID: gslsecuritiesltd@gmail.com 1) This Offer is being made by the Acquirers pursuant to Regulations 3(1) and 4 of SEBI (SAST) Regulations 2011. 2) This Offer is not a conditional offer in terms of Regulation 19 of the SEBI (SAST) Regulations, 2011 and is not subject to any minimum level of acceptance. 3) This Open Offer is not a competing offer in terms of Regulation 20 of SEBI (SAST) Regulations, 2011. 4) The marketable lot for the Equity Shares of the Target Company is 1 (One) Equity Share. 5) As on date, no Statutory Approvals are required to acquire equity shares that are validly tendered pursuant to this Open Offer, except for the prior approval of Reserve Bank of India, Mumbai (“RBI”). However, in case of any statutory or regulatory approvals being required and/or becoming applicable at a later date before the closing of the Tendering Period, this Open Offer shall be subject to the receipt of such approvals. 6) The Acquirers may withdraw the Offer in accordance with of Regulation 23(1) of the SEBI (SAST) Regulations, 2011. In the event of a withdrawal of the Open Offer, the Acquirers (through the Manager to the Open Offer) shall, within 2 (two) Working Days of such withdrawal, make a public announcement, in the same Newspapers in which the Detailed Public Statement was published, in accordance with Regulation 23(2) of the SEBI (SAST) Regulations, 2011 and such public announcement will also be sent to SEBI, BSE and the Target Company at its registered office, in accordance with Regulation 23(2) of the SEBI (SAST) Regulations, 2011.” 7) The Offer Price may be subject to upward revision, if any, pursuant to the SEBI (SAST) Regulations, 2011 or at the discretion of the Acquirers at any time prior to the commencement of the last 1 (one) Working Day before the commencement of the Tendering Period, in accordance with Regulation 18(4) of the SEBI (SAST) Regulations, 2011. In the event of such revision, the Acquirers shall: (i) make corresponding increase to the Escrow Amount; (ii) make a public announcement in the same newspapers in which the Detailed Public Statement (“DPS”) was published; and (iii) simultaneously with the issue of such public announcement, inform SEBI, BSE and the Target Company at its registered office, of such revision. However, the Acquirers shall not acquire any equity shares after the 3rd working day prior to the commencement of the Tendering Period, and until the expiry of the Tendering Period. The same price shall be payable by the Acquirers for all the equity shares tendered in the Open Offer anytime during the Open Offer. 8) There has been no competing offer to the Open Offer as of the date of this Draft Letter of Offer (“DLoF”). 9) If there is a competing offer at any time hereafter, the offers under all subsisting bids will open and close on the same date. A copy of the Public Announcement (“PA”), Detailed Public Statement (“DPS”), Draft Letter of Offer (“DLoF”) and Letter of Offer (“LoF”) (including the Form of Acceptance-cum-Acknowledgement) will also be available on the website of Securities and Exchange Board of India (“SEBI”) at www.sebi.gov.in. All future correspondence should be addressed to the Manager to the Offer/Registrar to the Offer at the address mentioned below: MANAGER TO THE OFFER REGISTRAR TO THE OFFER Mark Corporate Advisors Private Limited Purva Sharegistry (India) Private Limited CIN: U67190MH2008PTC181996 CIN: U67120MH1993PTC074079 Address: 404/1, The Summit, Address: Unit No. 9, Ground Floor, Sant Janabai Road (Service Lane), Shiv Shakti Industrial Estate, Off Western Express Highway, J. R. Boricha Marg, Vile Parle (East), Mumbai-400 057. Lower Parel (East), Tel. No.: +91 22 2612 3207/08 Mumbai-400011, Maharashtra, India Email ID: openoffer@markcorporateadvisors.com Tel. No.: +91 22 4961 4132 Investor Grievance Email ID: Email ID: support@purvashare.com investorgrievance@markcorporateadvisors.com Contact Person: Ms. Deepali Gaonkar Contact Person: Mr. Manish Gaur SEBI Registration No.: INR000001112 SEBI Reg. No.: INM000012128 Website: www.purvashare.com Website: www.markcorporateadvisors.com Offer Opens on : Wednesday, November 11, 2026 Offer Closes on : Wednesday, November 25, 2026 TENTATIVE SCHEDULE OF MAJOR ACTIVITIES PERTAINING TO THE OFFER: Sr. No. Nature of Activity Day & Date(1) 1) Date of the Public Announcement Wednesday, September 16, 2026 2) Date of publishing the Detailed Public Statement Wednesday, September 23, 2026 3) Last date for filing of Draft Letter of Offer with SEBI Wednesday, September 30, 2026 4) Last date of a Competing Offer(s) Thursday, October 15, 2026 5) Last date for receipt of SEBI observations on the DLoF (in the event SEBI has Friday, not sought clarifications or additional information from the Manager) October 23, 2026 6) Identified Date(2) Tuesday, October 27, 2026 7) Last date by which the Letter of Offer will be dispatched to the Public Tuesday, Shareholders as on the identified date November 03, 2026 8) Last date by which the recommendation of the committee of Independent Thursday, Directors of the Target Company will be given and published November 05, 2026 9) Last Date for revising the Offer Price/number of shares Monday, November 09, 2026 10) Date of Public Announcement for Opening the Offer Monday, November 09, 2026 11) Date of Commencement of the Tendering Period (“Offer Opening Date”) Wednesday, November 11, 2026 12) Date of Closing of the Tendering Period (“Offer Closing Date”) Wednesday, November 25, 2026 13) Last date for communicating Rejection/acceptance and payment of Wednesday, consideration for accepted equity shares or equity share certificate/return of December 09, 2026 unaccepted share certificates/credit of unaccepted shares to Demat Account Notes: (1) The above timelines are indicative (prepared on the basis of timelines provided under the SEBI (SAST) Regulations, 2011) and are subject to receipt of relevant approvals from various statutory/regulatory authorities and may have to be revised accordingly. (2) Identified Date is only for the purpose of determining the names of the public shareholders as on such date to whom the Letter of Offer will be sent. It is clarified that all the holders (registered or unregistered) of equity shares of the Target Company except the Acquirers and the Promoter/Promoter [Showing first 8,000 characters — download PDF for full document]