Statement of deviation(s) or variation(s) under Reg. 32

Date: 30.10.2026 National Stock Exchange of India Ltd. (NSE Ltd) BSE Limited (BSE Ltd) Exchange Plaza, 05th Floor, Listing / Compliance Department, Plot No. C-1, Block G, Phiroze jeejeebhoy Towers, Bandra Kurla complex, Bandra (E) Mumbai – 400051 Dalal Street, Mumbai – 4000014 Sub: Submission of Statement of Deviation/Variation in utilisation of funds raised through Preferential Issue of Convertible Warrants for the quarter ended 30th September, 2026. Dear Sir, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated 24th December, 2019, and the applicable provisions of the SEBI Master Circular, we hereby submit the Statement of Deviation/Variation in respect of funds raised through the preferential allotment of 87,00,000 Convertible Warrants by the Company. The statement, duly reviewed by the Audit Committee, in respect of the quarter ended 30th September, 2026, is enclosed herewith. We request you to kindly take the above submission on record. Thanking you, Yours faithfully, For Nakoda Group of Industries Limited Jayesh Choudhary Whole Time Director (DIN: 02426233) Annexure-1 STATEMENT ON DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE, RIGHTS ISSUE, PREFERENTIAL ISSUE, QUALIFIED INSTITUTIONS PLACEMENT ETC. IN RESPECT OF PREFERENTIAL ISSUE AND ALLOTMENT OF 87,00,000 CONVERTIBLE WARRANTS BY NAKODA GROUP OF INDUSTRIES LIMITED Name of listed entity Nakoda Group of Industries Limited Preferential Issue of Convertible Warrants Mode of Fund Raising Date of Raising Funds 02-07-2026 and 14-07-2026 Amount Raised ₹6,09,00,000 30-09-2026 Report filed for Quarter ended Monitoring Agency Not applicable Not Applicable Monitoring Agency Name, if applicable Is there a Deviation / Variation in use of funds No raised If yes, whether the same is pursuant to change in No terms of a contract or objects, which was approved by the shareholders Not applicable If Yes, Date of shareholder Approval Explanation for the Deviation / Variation No The Audit Committee reviewed the statement and noted that Comments of the Audit Committee after review there was no deviation/variation in the utilisation of funds raised during the quarter. Comments of the auditors, if any Objects for which funds have been raised and where there has been a deviation, in the following table Original Object Modified Object, if any Original Modified allocation, Funds Amount of Remarks if any Allocation if any Utilized Deviation/Vari ation for the quarter according to applicable object Working Capital NA 18,01,96,500 NA 5,92,60,848 0.00 Refer Note 1 General Corporate Purposes NA 6,08,51,280 NA 15,04,152 0.00 Refer Note 1 Issue-related Expenses NA 25,52,220 NA 1,35,000 0.00 Refer Note 1 Note 1: 1. During the quarter, the Company allotted 87,00,000 Convertible Warrants on a preferential basis in two tranches, comprising 35,00,000 Convertible Warrants allotted on 02nd July, 2026 and 52,00,000 Convertible Warrants allotted on 14th July, 2026, at an issue price of ₹28/- per warrant. 2. In accordance with the terms of the issue, 25% of the issue price, amounting to ₹7/- per warrant, was received by the Company at the time of allotment. Accordingly, the Company received an aggregate amount of ₹6,09,00,000 during the quarter. 3. The balance 75% of the issue price, amounting to ₹21/- per warrant, is payable by the respective warrant holders at the time of exercise of the warrants, in accordance with the terms of the issue. 4. The funds received during the quarter have been utilised towards the objects specified in the explanatory statement to the notice of the Extra-Ordinary General Meeting, in accordance with the approved objects of the preferential issue. 5. The utilisation of funds is being carried out in accordance with the objects and the stipulated utilisation period of two years from the receipt of funds. As on 30th September, 2026, there was no deviation/variation in the utilisation of funds from the objects approved by the shareholders. Note 2: 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 utilised 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.