Outcome of Board Meeting held on November 03, 2026 - Appointment of Forensic Auditor

VAXFAB ENTERPRISES LIMITED (CIN: L52291GJ1983PLC093146) Reg. Off.: Office 304, 305, Scarlet Gateway, B/H Saharan Bunglows, Prahladnagar Corporate Road, Manekbag, Ahmedabad, Gujarat, India, 380015 Email Id.: vaxfabenterprisesltd@gmail.com Contact No.: +91 74286 69284 Date: November 03, 2026 To, To, BSE Limited, The Calcutta Stock Exchange Limited Phiroze Jeejeeboy Tower, 7, Lyons Range, Dalhousie, Kolkata-700 001, Dalal Street, West Bengal Mumbai-400 001 Scrip Code: 015064 Ref: Security Id: VEL / Code: 542803 Subject: Outcome of Board Meeting held on November 03, 2026 – Appointment of ASGM & Co. for Independent Forensic Accounting and Investigation Engagement Reference: Regulation 30 read with Para A, Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Madam, Pursuant to Regulation 30 read with Para A, Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of Vaxfab Enterprises Limited ("the Company"), at its meeting held on Tuesday, November 03, 2026, has, inter alia, considered and approved the following matter: 1. Appointment of Independent Forensic Auditor The Board of Directors has approved the appointment of M/s. ASGM & Co., Chartered Accountants (Firm Registration No. 137191W), having its office at 4th Floor, C-401, 402 and 403, East Face, Ambali, Ahmedabad, through CA Aashish Shah, Partner and Engagement Leader (Membership No. 142708), to conduct an independent forensic accounting and investigation engagement in respect of the Company for the following financial years:  Financial Year 2022-23, ended March 31, 2023;  Financial Year 2023-24, ended March 31, 2024; and  Financial Year 2024-25, ended March 31, 2025. 2. Reason for Initiation of Forensic Audit The Board noted that the control and management of the Company transitioned to the present management with effect from April 01, 2025. At the time of transition, the historical financial and supporting records were not comprehensively handed over, and certain primary accounting, purchase, statutory and other supporting documents were not available. Further, the Company has received / become aware of certain notices and queries from GST authorities concerning historical transactions, including matters relating to input tax credit. VAXFAB ENTERPRISES LIMITED (CIN: L52291GJ1983PLC093146) Reg. Off.: Office 304, 305, Scarlet Gateway, B/H Saharan Bunglows, Prahladnagar Corporate Road, Manekbag, Ahmedabad, Gujarat, India, 380015 Email Id.: vaxfabenterprisesltd@gmail.com Contact No.: +91 74286 69284 Accordingly, in the interest of the Company and its stakeholders, the Board considered it appropriate to appoint an independent professional firm to undertake a detailed, evidence-based forensic accounting and investigation engagement covering the aforesaid financial years. 3. Broad Scope and Objectives of the Engagement The scope of the engagement shall, inter alia, include:  Examination of the integrity, reliability, completeness and continuity of Tally data and other accounting records.  Examination of books of accounts, ledgers, journals, vouchers and material financial transactions.  Verification and reconciliation of bank transactions, purchases, sales, receipts, payments and fund movements.  Examination of purchase transactions and related input tax credit claims, including reconciliation with available GST records and supporting documents.  Examination of income-tax matters, notices and relevant statutory records.  Verification of related-party transactions, loans and advances and other significant financial transactions.  Reconciliation of financial statements and relevant statutory and stock-exchange filings.  Identification and examination of unusual, unsupported, duplicate or otherwise questionable transactions, without presuming any wrongdoing.  Assessment of relevant internal controls, management transition records and available supporting evidence. The engagement shall also include identification of confirmed discrepancies, unverified matters, limitations, potential statutory exposures and matters requiring further legal or regulatory evaluation, wherever applicable. 4. Nature of Engagement The Board clarified that the engagement is in the nature of forensic accounting and investigation procedures and shall not constitute a statutory audit, tax audit, internal audit or assurance engagement. The appointed firm shall not express an audit opinion or provide any reasonable or limited assurance regarding the Company's financial statements. 5. Professional Fees The Board has approved professional fees of ₹3,00,000/- (Rupees Three Lakh Only) plus applicable taxes, along with approved out-of-pocket expenses, specialist charges and third-party costs at actuals, in accordance with the engagement letter. An initial retainer of ₹1,50,000/- shall be payable upon acceptance and before commencement of the engagement, with the balance payable before issuance of the final report. VAXFAB ENTERPRISES LIMITED (CIN: L52291GJ1983PLC093146) Reg. Off.: Office 304, 305, Scarlet Gateway, B/H Saharan Bunglows, Prahladnagar Corporate Road, Manekbag, Ahmedabad, Gujarat, India, 380015 Email Id.: vaxfabenterprisesltd@gmail.com Contact No.: +91 74286 69284 6. Reporting and Further Action The appointed forensic auditor shall submit its findings and reports to the Audit Committee / Board of Directors of the Company in accordance with the agreed engagement terms. The Company shall review the findings and take appropriate corrective, remedial, legal or regulatory actions, wherever warranted. The Company shall make further disclosures, including submission of the final forensic audit report along with management comments, if any, in accordance with the applicable provisions of SEBI (LODR) Regulations, 2015. The meeting of the Board of Directors commenced at 05:00 P.M and concluded at 05:30 P.M. You are requested to kindly take the above information on record. Thanking you, Yours faithfully, For, Vaxfab Enterprises Ltd Ravindra Ashokbhai Joshi Managing Director DIN: 10112296 Encl.: Annexure A – Details regarding initiation of Forensic Audit VAXFAB ENTERPRISES LIMITED (CIN: L52291GJ1983PLC093146) Reg. Off.: Office 304, 305, Scarlet Gateway, B/H Saharan Bunglows, Prahladnagar Corporate Road, Manekbag, Ahmedabad, Gujarat, India, 380015 Email Id.: vaxfabenterprisesltd@gmail.com Contact No.: +91 74286 69284 ANNEXURE – A Disclosure pursuant to Regulation 30 read with Clause 17 of Para A, Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Sr. No Particulars Details 1. Name of entity initiating the Vaxfab Enterprises Limited forensic audit 2. Name of forensic auditor M/s. ASGM & Co., Chartered Accountants 3. Firm Registration Number 137191W 4. Reason for initiation of Independent examination of financial transactions, forensic audit accounting records, statutory reconciliations and identification of potential financial irregularities, if any, during the relevant financial years 5. Period covered Financial years ended March 31, 2023, March 31, 2024 and March 31, 2025 6. Date of approval by Board of November 03, 2026 Directors