Outcome of Board Meeting

Dev Accelerator Limited C-01, The First Commercial Complex, B/h Keshavbaug Party Plot, Nr. Shivalik High-street, Vastrapur, Ahmedabad-380015, Gujarat accelerating innovation ~ +9174348 83388 I B connect@devx.work CIN: L74999GJ2020PLC115984 November 03, 2026 To, To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G Block, Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai 400 001 Mumbai 400 051 Script Code: Trading Symbol: DEVX (Equity: 544513, Debt: 978033) Dear Sir/ Madam, Sub: Outcome of the Board Meeting Pursuant to Regulation 30, 33, 52 and 54 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“SEBI Listing Regulations”) we would like to inform you that the Board of Directors at its meeting held on today i.e. Tuesday, November 03, 2026, which commenced at 04.00 P.M. IST and concluded at 05.00 P.M. IST, inter alia, considered and approved the following: Financial Results Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026 along with Limited Review Report and Security Cover Certificate issued by M/s. Nisarg J Shah & Co., the Statutory Auditors of the Company. The said results along with copies of Limited Review Report and Security Cover Certificate for the quarter and half year ended September 30, 2026 are attached and marked as Annexure – A. Issuance of Non- Convertible Debentures The Board of Directors of the Company, at its meeting held on November 03, 2026, considered and approved the proposal for raising funds through Issuance of Non-Convertible Debentures, in dematerialized form, in one or more series or tranches on a private placement basis for an aggregate amount up to Rs. 300 [(Indian Rupees Three Hundred Crores Only)] (“NCDs”) to eligible investors including individuals, body corporate, corporate entities and other qualified institutional buyers at such price and on such terms and conditions. The Board further empowered the Executive Committee of the Company to complete the issue and allotment of NCDs on a private placement basis and to perform all such acts, deeds and things that the Board is authorised to perform and / or all such acts, deeds and things as the Committee may, in its absolute discretion, deem necessary or desirable in connection with the issuance and allotment of NCDs and matters incidental thereto. Startup Accelerator Collaborative Corporate Innovation University Program Work Space Partnerships Collaboration www.devx.work Dev Accelerator Limited C-01, The First Commercial Complex, B/h Keshavbaug Party Plot, Nr. Shivalik High-street, Vastrapur, Ahmedabad-380015, Gujarat accelerating innovation ~ +9174348 83388 I B connect@devx.work CIN: L74999GJ2020PLC115984 The Company shall make relevant disclosures in respect of Issuance of NCDs in accordance with Regulations 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026. Allotment of 33,33,330 (Thirty Three Lakh Thirty Three Thousand Three Hundred Thirty) Equity Shares of the Company pursuant to Conversion of Convertible Warrants In continuation of our intimation dated June 16, 2026, wherein the Company had allotted 33,33,330 (Thirty Three Lakh Thirty Three Thousand Three Hundred Thirty) Convertible warrants of face value of Rs. 2/- (Rupees Two only) each to Mr. Shah Parth Naimeshbhai, Mr. Uttamchandani Umesh Satishkumar and Mr. Rushit Shardulkumar Shah, Promoters of the Company, at an issue price of Rs. 45 (Rupees Forty Five only) [including a premium of Rs. 43/- (Rupees Forty Three Only)] per Convertible Warrant, aggregating up to Rs. 14,99,99,850 (Rupees Fourteen Crore Ninety Nine Lakh Ninety Nine Thousand Eight Hundred Fifty Only). Out of which Rs. 3,74,99,962.50/- (Rupees Three Crore Seventy Four Lakh Ninety Nine Thousand Nine Hundred Sixty Two and Fifty Paisa Only) (25% of the aggregate amount), was received as the initial subscription amount at the time of allotment of the warrants. The Board of Directors at its meeting held on today i.e., November 03, 2026 considered and approved the allotment of 33,33,330 (Thirty Three Lakh Thirty Three Thousand Three Hundred Thirty) Equity Shares of the Company with a face value of Rs. 2/- (Rupees Two only) each, at a premium of Rs. 43/- (Rupees Forty Three Only) per share, pursuant to the exercise and conversion of 33,33,330 (Thirty Three Lakh Thirty Three Thousand Three Hundred Thirty) convertible warrants against receipt of the balance subscription amount of Rs. 11,24,99,887.50/- (Rupees Eleven Crore Twenty Four Lakh Ninety Nine Thousand Eight Hundred Eighty Seven and Fifty Paisa Only) (i.e. 75% of the aggregate amount), to Mr. Shah Parth Naimeshbhai, Mr. Uttamchandani Umesh Satishkumar and Mr. Rushit Shardulkumar Shah, Promoters of the Company. These Equity Shares shall rank pari-passu, in all respects, with the existing Equity Shares of the Company. The application for listing and trading approval of the Stock Exchanges for the equity shares allotted as above will be made in due course. Pursuant to the above allotment, the issued, subscribed and paid-up capital of the Company shall be as under: Particulars Before Allotment After Allotment Equity Share No. of Shares Value in Rs. No. of Shares Value in Rs. Capital (Face Value of (Face Value of Rs. 2/-) Rs. 2/-) Issued Capital 9,46,31,955 18,92,63,910 9,79,65,285 19,59,30,570 Subscribed and 9,46,31,955 18,92,63,910 9,79,65,285 19,59,30,570 Paid-up Capital Startup Accelerator Collaborative Corporate Innovation University Program Work Space Partnerships Collaboration www.devx.work Dev Accelerator Limited C-01, The First Commercial Complex, B/h Keshavbaug Party Plot, Nr. Shivalik High-street, Vastrapur, Ahmedabad-380015, Gujarat accelerating innovation ~ +9174348 83388 I B connect@devx.work CIN: L74999GJ2020PLC115984 The pre and post allotment shareholding of promoters shall be as under: Pre-Allotment % of Total Issued Post-Allotment % of Total Issued Capital Capital 3,32,01,850 35.09 3,65,35,180 37.29 The details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is attached and marked as Annexure-B. The above information will also be available on the website of the Company viz. https://www.devx.work/investor-relations. Thanking you Yours faithfully, For Dev Accelerator Limited Anjan Trivedi Company Secretary & Compliance Officer Encl: As above Startup Accelerator Collaborative Corporate Innovation University Program Work Space Partnerships Collaboration www.devx.work NISARG J. SHAH & CO CHARTERED ACCOUNTANTS 3SF Ratnam, C.G. Road, Phone:07926462476 Ahmedabad: 380006 Email: info@njshah.com Independent Auditor's review report on Quarterly and Year to Date Unaudited Consolidated Financial Results of Dev Accelerator Limited Pursuant to Regulation 33 and 52 of the SEBI (Listing Q!iligations and Disclosure Requirements) Regulations. 2015. as amended The Board of Directors of Dev Accelerator Limited (Formerly known as Dev Accelerator Private Limited) 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Dev Accelerator Limited (the "Holding Company"), its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and associate entities for the quarter ended September 30, 2026 and half year to date from April 01, 2026 to September 30, 2026 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, as amended (the "Listing Regulations"). 2. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, ha [Showing first 8,000 characters — download PDF for full document]