statement of deviation and variation for quarter ended September 30, 2026.

October 26, 2026 The General Manager, Corporate Listing Department, BSE Limited, P. J. Towers, 25th Floor, Dalal Street, Mumbai - 400 001 Reference: Scrip Symbol: MANTRA | Scrip Code: 511577 Madam/ Sir, Subject: Statement of Deviation or Variation in utilization of funds raised under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended September 30, 2026. Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in the utilisation of proceeds and objects stated in offer documents for the quarter ended & half year ended September 30, 2026, in respect of the following issuance of equity shares; i. The shareholders of the Company, by way of a special resolution passed at the meeting held on February 27, 2026, approved the issuance of 45,00,000 (Forty Five Lakh) Warrants, having a face value of Rs. 10/- each at an issue price of Rs. 20/- each to Mrs. Deepa Kishor Tracy, the Promoter and Managing Director of the Company, for an aggregate consideration of Rs. 9,00,00,000 (Rupees Nine Crore only), by way of a preferential issue on a private placement basis. Pursuant to receipt of the in- principle approval of BSE Limited for the preferential issue on March 24, 2026, the Company issued the private placement offer cum application letters dated March 25, 2026 in Form PAS-4 to Mrs. Deepa Kishor Tracy. At the time of application 50% of the issue price of the said Warrants i.e. Rs. 4,50,00,000 (Rupees Four Crore Fifty Lakh only) was received. ii. The Company has converted 15,00,000 (Fifteen Lakh) Warrants into 15,00,000 (Fifteen Lakh) Equity Shares of face value ₹10/- each, issued at ₹20/- each (including a premium of ₹10/- each), and allotted the said Equity Shares to Mrs. Deepa Kishor Tracy, Managing Director of the Company, upon receipt of the balance consideration of ₹10/- per Warrant, aggregating to ₹1,50,00,000/- (Rupees One Crore Fifty Lakh only), received in the Company's bank account with ICICI Bank, Lokhandwala Complex Branch, Andheri (West), Mumbai, Maharashtra, on September 24, 2026, in accordance with the terms and conditions of the Warrants issued at an issue price of ₹20/- per Warrant, each Warrant being convertible into 1 (One) Equity Share of the Company having a face value of ₹10/- each, on a preferential basis through private placement. iii. Further, the Company had earlier received upfront money of ₹10/- per Warrant (50% of the issue price) on these 15,00,000 Warrants, aggregating to ₹1,50,00,000/- (Rupees One Crore Fifty Lakh only), which was utilised for General Corporate Purposes of the Company, i.e. meeting routine corporate overheads, contingencies and administrative expenses, and due intimation was given to BSE Limited. iv. The balance amount of ₹1,50,00,000/- (Rupees One Crore Fifty Lakh only) received on September 24, 2026 has been utilised for General Corporate Purposes of the Company, i.e. meeting routine corporate overheads, contingencies and administrative expenses. We enclose herewith the Statement of Deviation or Variation, with the requisite details for disclosure to the Stock Exchange, in respect of the conversion of Warrants issued on a preferential basis, as Annexure-I and Annexure-II, as reviewed and noted by the Audit Committee at its meeting held on October 26, 2026. Kindly take the same on your records. Thanking you. Yours faithfully, For Mantra Capital Limited (Formerly known as Savani Financials Limited) Prasanta Kumar Mohanty Company Secretary & Compliance Officer ICSI Membership No.: A76804 Place: Mumbai Encl: as above Annexure-I Name of listed entity Mantra Capital Limited Mode of Fund Raising Preferential Issue * Date of Raising Funds 24/09/2026 (Date of Allotment) Amount Raised (in Lakhs) Rs. 900.00/- (Issue of equity shares on preferential basis) 50% of Issue Price Rs.450.00/- (Conversion of 15,00,000 warrants into equity shares on September 24, Rs.150 2026) Report filed for Quarter ended 30/09/2026 Monitoring Agency N.A. Monitoring Agency Name, if applicable N.A. Is there a Deviation / Variation in use of funds raised N.A. If yes, whether the same is pursuant to change in terms of a contract N.A. or objects, which was approved by the shareholders If Yes, Date of shareholder Approval N.A. Explanation for the Deviation / Variation N.A. Comments of the Audit Committee after review N.A. Comments of the auditors, if any N.A. Objects for which funds have been raised and where there has been a deviation, in the following table (“Rs. Lakhs”) Amount of Deviation/ Modified Modification/ Funds Original Variation for the Original Object Object, if Allocation, if Utilise Remarks if any Allocation quarter according any any d to applicable object The Warrants were issued at a price of Rs.20/- each, with Rs.10/- each payable on or before the date of allotment and the balance Rs.10/- payable at Business operations of 150.00 the time of the Company including (conversion of 150.0 exercise of the None 900 0.00 growth of the asset book 15,00,000 0 Warrants into through lending. warrants) equity shares of the Company, having a face value of Rs.10/-, which shall not be later than 18 months from the date of allotment of the Warrants. Deviation or variation could mean: a. Deviation in the objects or purposes for which the funds have been raised or b. Deviation in the amount of funds actually utilized as against what was originally disclosed or c. Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc. *We have considered (Date of Allotment) as Date of Raising Funds. Annexure-II Name of listed entity Mantra Capital Limited Mode of Fund Raising Preferential Issue (conversion of warrants into equity shares) * Date of Raising Funds 24/09/2026 Amount Raised (in Lakhs) Rs.150.00/- Report filed for Quarter ended 30/09/2026 Monitoring Agency N.A. Monitoring Agency Name, if applicable N.A. Is there a Deviation / Variation in use of funds raised N.A. If yes, whether the same is pursuant to change in terms of a contract N.A. or objects, which was approved by the shareholders If Yes, Date of shareholder Approval N.A. Explanation for the Deviation / Variation N.A. Comments of the Audit Committee after review N.A. Comments of the auditors, if any N.A. Objects for which funds have been raised and where there has been a deviation, in the following table (“Rs. Lakhs”) Amount of Modif Deviation/ Modifi icatio Original Variation for ed n/ Funds Original Object conversion the quarter Remarks if any Object, Alloc Utilised Allocation according to if any ation, applicable if any object To augment our capital base None 900 0.00 150.00 0.00 Conversion of warrants into equity shares at Rs.20/- each (face value Rs.10/- and Upfront Payment: An premium Rs.10/-). Rs.10/- per initial 50% application warrant (50%) was received amount (₹4.50 crore) upfront, and the balance of None 150 150 150 150 was paid upfront upon Rs.1,50,00,000/- was received allotment on April 8, on allotment of 15,00,000 2026 equity shares on September 24, 2026. General Corporate Purposes None 150 150 150 150 150 *We have considered (Date of Allotment) as Date of Raising Funds. Deviation or variation could mean: a. Deviation in the objects or purposes for which the funds have been raised or b. Deviation in the amount of funds actually utilized as against what was originally disclosed or c. Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc. For Mantra Capital Limited (Formerly known as Savani Financials Limited) Prasanta Kumar Mohanty Company Secretary & Compliance Officer ICSI Membership No.: A76804 Place: Mumbai Encl: as above