Statement of Deviation or Variation in utilization of funds raised through Preferential Issue for the quarter ended June 30, 2026

SPICE ISLANDS INDUSTRIES LIMITED (Earlier known as Spice Islands Apparels 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: July 27, 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 June 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 June 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 (Earlier known as Spice Islands Apparels 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 June 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 SPICE ISLANDS INDUSTRIES LIMITED (Earlier known as Spice Islands Apparels 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 Approval Explanation for the Not Applicable Deviation / Variation Comments of the Audit None Committee after review Comments of the auditors, None if any OBJECTS FOR WHICH FUNDS HAVE BEEN RAISED AND WHERE THERE HAS BEEN A DEVIATION, IN THE FOLLOWING TABLE Original Modif Original Modifie Funds Amount Remar Object ied Allocatio d Utilized of ks if Objec n allocati (Amoun Deviatio any t, if (Amount on, t in Rs.) n/Variati any in Rs.) if any on for quarter accordin g to applicabl e object The company Not Rs. Not The None Not needs to Applic 8,69,99,5 Applicab balance Applic raise able 80/- le available able additional (Rupees in the funds to Eight Fund is meet out the Crore Rs. working Sixty- 3,000/-, capital Nine which is requirement, Lakhs derived business Ninety- as expansion Nine under: and other Thousand i. Total general Five Fund corporate Hundred Allocate purposes of and d: Rs. the company. Eighty 8,69,99, considering Only) 580/- raising funds through ii. Total preferential Fund issue to be Utilized most cost till June SPICE ISLANDS INDUSTRIES LIMITED (Earlier known as Spice Islands Apparels 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 and time 30, effective way 2026: for raising Rs. additional 8,69,96, capital the 580/- board of iii. directors of Balance the company Fund: proposed to raise upto 3,000/-) 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 SPICE ISLANDS INDUSTRIES LIMITED (Earlier known as Spice Islands Apparels 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 general corporate purposes of the Company which shall enhance the business of the 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