Intimation about Proposed Acquisition of M/s Zineeverse Motion Pictures Private Limited.

Date: 05th October 2026 The Manager BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001 Dear Sir / Madam, Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Intimation about proposed acquisition of the business of M/s Zineeverse Motion Pictures Private Limited by way of share swap With reference to the subject cited above, we wish to inform you that the Company proposes to acquire the business of M/s Zineeverse Motion Pictures Private Limited, a Hyderabad-based company engaged in media-related activities such as digital streaming services and software development for media-related projects, production of filmed content and distribution of filmed content. The proposed acquisition is limited to the business of M/s Zineeverse Motion Pictures Private Limited. The Company will acquire the business of M/s Zineeverse Motion Pictures Private Limited against the issue of its equity shares as per mutually decided terms and conditions. An in-principal letter of intent in this regard has been signed by Ajel Limited and M/s Zineeverse Motion Pictures Private Limited. The proposed acquisition is subject to the execution of definitive agreements and other relevant documents, following detailed due diligence and review of the required information and documents. A copy of the in-principal letter of intent is enclosed herewith for your information and records. We request you to kindly take the above on record. Thanking you, Yours faithfully, For Ajel Limited Srinivasa Reddy Arikatla Managing Director DIN: 01673552 Encl.: As above Ajel Limited Branches: Regd. 🏢🏢: 714, IJMIMA Complex, Raheja Metroplex, Off New Link Road, Hyderabad, Telangana, India Behind Goregaon Sport Club, Malad (W), Mumbai-400064 Bengaluru, Karnataka, India ☎ +91 22 47 456 999 ● 📠📠 +91 22 6645 9888 Princeton, NJ, USA  http://www.ajel.in ● 📧📧 info@ajel.com San Francisco, CA, USA CIN: L67120MH1994PLC076637 Date: 05th October 2026 The Board of Directors Mis Zineeverse Motion Pictures Private Limited No. 201, Dr. Ganesh Residency 434, Sagar Society, Kamalapuri Colony Banjara Hills, Hyderabad - 500 073, T.G. Dear Sir/ Madam, Sub: In-Principle Letter of Intent for the proposed acquisition of the business of M/s Zineeverse Motion Pictures Private Limited by way of share swap This In-Principle Letter of Intent ("Letter") is issued by M/s Ajel Limited (hereinafter referred to as the "Acquirer") to M/s Zineeverse Motion Pictures Private Limited (hereinafter referred to as the "Company"), a Hyderabad-based company engaged in media-related activities such as production of filmed content, distribution of filmed content, digital streaming services and software development for media-related projects (hereinafter referred to as the "Business"). The Acquirer and the Company (together, the "Parties") record their in-principle understanding as follows: 1. Intent: The Acquirer proposes to acquire the Business of the Company, and the Company has agreed in principle to the proposed acquisition of the Business (the "Proposed Transaction"), on the terms set out in this Letter and in the definitive agreements to be executed. 2. Nature of Transaction: The Proposed Transaction is limited to the Business of the Company. 3. Consideration: The Acquirer shall acquire the Business of the Company against the issue of its equity shares as per mutually decided terms and conditions. 4. Structure and Terms: The structure, timelines and all other terms of the Proposed Transaction, including the assets, rights, contracts, employees and liabilities forming part of the Business, shall be mutually discussed and finalised by the Parties and recorded in the definitive agreements. 5. Due Diligence: The Company shall provide the Acquirer and its advisors with reasonable access to the books, records, contracts, film rights, intellectual property, statutory filings and other information relating to the Business, as required to carry out legal, financial, tax and business due diligence. 6. Definitive Agreements: The Proposed Transaction is subject to satisfactory completion Ajel Limited ro 6, Link Plaza Commercial Complex, Hyderaba..._11=,_,_,.·-, India iwara, Jogeshwari (W), Mumbai-400102 Bengaluru, Karnataka, India 2 2639 8888•111!li+91 22 6645 9888 Princeton, NJ, USA e a San Francisco, CA, USA ANNIVERSARY www.ajel.in•ajel.com• info@ajel.com 1994-2024 CIN: L67120MH1994PLC076637 Approvals: The Proposed Transaction, including the issue of equity shares by way of share swap, is subject to the approval of the respective Boards of Directors and shareholders of the Parties, as applicable, and to all regulatory and statutory approvals required under applicable law, including compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 8. Confidentiality: Each Party shall keep confidential the contents of this Letter and all information received from the other Party, except where disclosure is required by law, by a stock exchange or by any regulatory authority, or is made to its professional advisors on a need-to-know basis. 9. Non-Binding Nature: This Letter is an expression of intent only and does not create any legally binding obligation on either Party to complete the Proposed Transaction, except for Clauses 8, 9, 10 and 11, which shall be binding on the Parties. 10. Validity: This Letter shall remain valid for a period of 2 (two) months from the date of its acceptance, or until the execution of the definitive agreements, whichever is earlier, unless extended by mutual written consent of the Parties. 11. Governing Law and Jurisdiction: This Letter shall be governed by the laws of India, and the courts at Hyderabad shall have exclusive jurisdiction in respect of any matter arising out of it. Kindly confirm your acceptance of the above by signing and returning a copy of this Letter. Thanking you, Yours faithfully, For M/s Ajel Limited Srinivasa Reddy Arikatla Chairman and Managing Director DIN: 01673552 ACCEPTANCE We, M/s Zineeverse Motion Pictures Private Limited, hereby accept and agree to the terms of this In-Principle Letter of Intent for the proposed acquisition of our Business by way of share swap. For M/s Zineeverse ~~~ res Private Limited f ' " N. Balwanth Sing Managing Directo ~, ..._ DIN: 06560717 Date: 05th October 2026 Place: Hyderabad. Ajel Limited Branches: Regd.ll: l 06, Link Plaza Commercial Complex, Hyderabad, Telangana, India New Link Rd, Oshiwara, Jogeshwari (W), Mumbai-400_102 Bengaluru, Karnataka, India +91 22 2639 8888•.a+91 22 6645 9888 Princeton, NJ, USA San Francisco, CA, USA ANNIVERSARY @ www.ajel.in•ajel.com• ~ info@ajel.com 1994-2024 CIN: L67120MH1994PLC076637