Statement of deviation or variation in utilization of funds raised through Preferential Issue for the quarter ended September 30, 2026

SPICE ISLANDS INDUSTRIES LIMITED Regd. Office: Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai – 400 078. Tel.: +91 (22) 6740 0800, 2282 3128 Fax: +91 (22) 22826167, Email-id: sales@spiceislandsindia.com CIN NO: L11040MH1988PLC050197 Dated: October 29, 2026 The Manager, Listing Department BSE Limited, Floor 25, P J Towers, Dalal Street, Mumbai – 400 001 BSE Scrip Code 526827 Sub: Statement of deviation or variation in utilization of funds raised through Preferential Issue for the quarter ended September 30, 2026. Dear Sir/Madam, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD1/162/2019 dated December 24, 2019, please find enclosed herewith the statement of deviation or variation in utilization of funds raised through preferential issue for the quarter ended September 30, 2026. This is for your information and records. Thanking You, For Spice Islands Industries Limited (Arti Lalwani) Company Secretary and Compliance Officer Membership no. A59871 Place: Mumbai SPICE ISLANDS INDUSTRIES LIMITED Regd. Office: Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai – 400 078. Tel.: +91 (22) 6740 0800, 2282 3128 Fax: +91 (22) 22826167, Email-id: sales@spiceislandsindia.com CIN NO: L11040MH1988PLC050197 Statement of Deviation / Variation in Utilization of Funds Raised Name of listed entity Spice Islands Industries Limited Mode of Fund Raising Preferential Issue Date of Raising Funds 1. Date of Allotment of Warrants (Equity convertible Warrants): October 30, 2024. 2. Date of Allotment of Equity Shares (Pursuant to conversion of Warrants): December 01, 2025. Total Amount Raised on 1. The Company has allotted warrants warrant allotment convertible into equity shares at an issue price of Rs. 45/- per warrant, including a premium of Rs. 35/- per warrant. The allottees have paid Rs. 11.25/- per warrant, being 25% of the issue price, aggregating to Rs. 2,17,49,895/-, in respect of 19,33,324 warrants on 30-10-2024. 2. Pursuant to the conversion of warrants, the Company has allotted 19,33,324 equity shares at an issue price of Rs. 45/- per equity share, including a premium of Rs. 35/- per equity share. The allottees have paid Rs. 33.75/- per warrant, being 75% of the issue price, aggregating to Rs. 6,52,49,685/- on 01-12-2025. Report filed for Quarter September 30, 2026 ended Monitoring Agency Name, if Not Applicable applicable Is there a Deviation / Not Applicable Variation in use of funds raised If yes, whether the same is Not Applicable pursuant to change in terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Not Applicable Approval Explanation for the Not Applicable Deviation / Variation SPICE ISLANDS INDUSTRIES LIMITED Regd. Office: Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai – 400 078. Tel.: +91 (22) 6740 0800, 2282 3128 Fax: +91 (22) 22826167, Email-id: sales@spiceislandsindia.com CIN NO: L11040MH1988PLC050197 Comments of the Audit None Committee after review Comments of the auditors, if None OBJECTS FOR WHICH FUNDS HAVE BEEN RAISED AND WHERE THERE HAS BEEN A DEVIATION, IN THE FOLLOWING TABLE Original Modifi Original Modified Funds Amount Remar Object ed Allocation allocatio Utilized of ks if Objec (Amount n, (Amount Deviation any t, if in Rs.) if any in Rs.) /Variation any for quarter accordin g to applicabl e object The Not Rs. Not The None Not company Applic 8,69,99,58 Applica balance Applic needs to able 0/- ble availabl able raise (Rupees e in the additional Eight Fund is funds to Crore Rs. meet out the Sixty-Nine 3,000/-, working Lakhs which is capital Ninety- derived requirement, Nine as business Thousand under: expansion Five i. Total and other Hundred Fund general and Allocate corporate Eighty d: Rs. purposes of Only) 8,69,99,5 80/- company. considering ii. Total raising funds Fund through Utilized preferential till issue to be Septem most cost ber 30, and time 2026: Rs. SPICE ISLANDS INDUSTRIES LIMITED Regd. Office: Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai – 400 078. Tel.: +91 (22) 6740 0800, 2282 3128 Fax: +91 (22) 22826167, Email-id: sales@spiceislandsindia.com CIN NO: L11040MH1988PLC050197 effective 8,69,96,5 way for 80/- raising iii. additional Balance capital the Fund: Rs. board of 3,000/-) directors of the company proposed to raise upto Rs. 8,69,99,580/- (Rupees Eight Crore Sixty- Nine Lakhs Ninety-Nine Thousand Five Hundred and Eighty Only) (through issue of warrants convertible into equity shares on preferential basis. The Company shall utilize the proceeds from the preferential issue of warrants convertible into equity shares to meet out the working capital requirement, business expansion and other general SPICE ISLANDS INDUSTRIES LIMITED Regd. Office: Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai – 400 078. Tel.: +91 (22) 6740 0800, 2282 3128 Fax: +91 (22) 22826167, Email-id: sales@spiceislandsindia.com CIN NO: L11040MH1988PLC050197 corporate purposes of Company which shall enhance the business of Company 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 the contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc. Please take the same on your record and acknowledge the receipt of the same. For Spice Islands Industries Limited (Arti Lalwani) Company Secretary and Compliance Officer Membership no. A59871 Place: Mumbai