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

October 30, 2026 ANL/Stock Exchanges/2026-27 To, To, The General Manager, The Listing Department. Department of Corporate Services, National Stock Exchange of India Limited BSE Limited, Exchange Plaza, C-1, Block G P.J. Towers, Dalal Street, Bandra Kurla Complex Company Code No.: 543743 Trading Symbol: AERONEU Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Dear Sir/Madam, 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 Please find enclosed herewith Statement of Deviation and Variation as per regulation 32(1) of the Annexure A SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended September 30, 2026 in the prescribed format as . We further inform you that the aforesaid statement has been reviewed by the Audit Committee and noted and taken on record by the Board of Directors of the Company. Kindly take the above information on your records. Thanking you, Yours faithfully, For Aeroflex Neu Limited Alka Premkumar Gupta Company Secretary Membership No: A35442 Encl: As above Annexure A STATEMENT OF DEVIATION / VARIATION IN UTILISATION OF FUNDS RAISED N a me of listed entity (Formerly known as Sah Polymers Limited) Mode of Fund Raising Aeroflex Neu Limited Date of Raising Funds Allotment of convertible warrants on preferential basis Amount Raised 25 July, 2025 (Date of allotment of Report filed for Quarter ended Warrants) Monitoring Agency Rs. 6,480 Lakhs* Monitoring Agency Name, if applicable September 30, 2026 Is there a Deviation / Variation in use of funds Not Applicable raised Not Applicable If yes, whether the same is pursuant to change in Yes terms of a contract or objects, which was approved by the shareholders Yes If Yes, Date of shareholder Approval Explanation for the Deviation / Variation August 25, 2026 The variation is on account of modification of the object of utilisation of proceeds to enable the Company to construct, build, operate, establish, develop, acquire, purchase land for, and invest in Plug and Play Office Complexes, AI Parks, IT Parks, Data Centers, residential and industrial complexes, including hotels, resorts and other hospitality related businesses, whether directly or through subsidiary(ies) or in joint collaborations, Comments of the Audit Committee after review as approved by the shareholders of the Company. The Audit Committee has reviewed and noted the variation in utilisation of proceeds, which is in accordance with the Comments of the auditors, if any shareholders’ approval for modification of Objects for which funds have been raised and whtehree o bthjeecrte o fh tahse biseseune .a deviation, in the following Table No Comments Amount (Rs. In Lakhs) Original Object Modified Object, if any Origina Modifie Funds Amoun Rem l d Utilise t of arks Allocati Allocati d up to Deviati if on on, if 30.09.2 on/Var any any 026 iation for the quarte accordi ng to applica object To Construct, To construct, build, 4,000 NA Nil Nil build, operate, operate, establish, establish, develop, develop, acquire, acquire, purchase purchase land for, and of land for, and invest in Plug and Play invest in, Plug and Office Complexes, AI Play Office Parks, IT Parks, Data complex, AI Park, Centers, residential and IT Park, industrial complexes, residential and including hotels, resorts industrial and other hospitality complexes related businesses, through self, whether directly or subsidiary(ies) or through subsidiary(ies) in joint or in joint collaborations. - collaboration Long-term NA 1,200 NA 275 Nil working capital requirements Preferential Issue NA 25 NA 10.34 Nil expenses General Corporate NA 1,255 NA 510.16 Nil Purpose Total 6,480 795.50 - NA NA Nil 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 *Note: Out of total amount raised of Rs. 6,480 Lakhs, proceeds of Rs. 1,620 Lakhs i.e. 25% of issue price has been received by the Company and remaining 75% i.e. Rs. 4,860 Lakhs will be received at the time of conversion of warrants into equity shares i.e. within 18 months from the date of allotment of the warrants.