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

NBoSvEem Libmeri t0e6d, 2026 National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai - 400 001 Bandra (East), Company Code No.: 539807 MCoummpbaani -y 4 S0y0m 0b5o1l : CCAVENUE Sub: Statement of Deviation(s) or Variation(s) in Utilisation of Funds raised through Rights Issue for the quarter ended September 30, 2026 Dear Sir/ Madam, Pursuant to Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“Listing Regulations”) read with SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we hereby confirm that for the quarter ended September 30, 2026, there was no deviation or variation in the use of proceeds of funds raised through Rights Issue of Equity Shares, from the objects stated in the Letter of Offer dated June 19, 2025. A Statement of deviation or variation, if any for the quarter ended September 30,A 2n0n2e6x, uisr deu -l yA r.eviewed by the Audit Committee of the Company and approved by the Board of Directors at its meeting held on November 06, 2026. The same is enclosed herewith in the prescribed format as . The aforesaid information is also available on the website of the Company at www.avenuesai.com We request you to kindly take the same on your records. Thanking you, YFoour rAsv feaintuhfeuslAlyI, Limited (Formerly known as Infibeam Avenues Limited) Shyamal Trivedi Sr. Vice President & Company Secretary Encl.: As above AvenuesAI Limited (Formerly known as Infibeam Avenues Limited) Regd. Office: th CIN: 28 Floor, GIFT Two Building, Block No. 56, Road-5C, Zone-5, GIFT CITY, Tel: Fax: Email: Website: Gandhinagar – 382 050, Gujarat, India L64203GJ2010PLC061366 +91 79 67772204 | +91 79 67772205 | ir@avenuesai.com | www.avenuesai.com Annexure – A STATEMENT OF DEVIATION OR VARIATION FOR THE PROCEEDS OF RIGHTS ISSUE Statement on deviation / variation in utilisation of funds raised Name of Listed Entity (Formerly known as Infibeam Avenues Limited) Mode of Fund Raising AvenuesAI Limited Date of Raising Funds Amount Raised Rights Issue Amount Received on Application July 15, 2025 Amount Received on First and Final Call Rs. 69,998.57 Lakhs Report filed for Quarter ended Rs. 34,999.29 Lakhs Monitoring Agency Rs. 34,652.13 Lakhs Monitoring Agency Name, if applicable September 30, 2026 Is there a Deviation / Variation in use of funds raised Applicable If yes, whether the same is pursuant to change in terms of CARE Ratings Limited a contract or objects, which was approved by the No shareholders Not Applicable If Yes, Date of shareholder Approval Explanation for the Deviation / Variation Comments of the Audit Committee after review Not Applicable Comments of the auditors, if any Not Applicable No Comments No Comments Objects for which funds have been raised and where there has been a deviation, in the following table Original Object Modified Original Modified Funds Amount of (Rs. InR Leamkahrs) Object, if Allocation allocation, Utilised Deviation/Vari ks if any if any ation for the any quarter according to applicable object Investment in our wholly owned Not 6,984.00 Not 6,984.00 Not Applicable - subsidiary, Infibeam Projects Applicable Applicable Management Private Limited for partial repayment or prepayment of secured loans availed by it Further investment in our 29,399.59 Not 944.00 Not Applicable - subsidiary, Nueromind Applicable Technologies Private Limite*d for advanced technology development and AI Software related work Further investment in subsidiary, 8,766.40 Not 7670.00 Not Applicable - Rediff.com India Limited for Applicable expansion of digital and payment # ecosystem Funding of acquisitions of 24,388.58 24,041.42 23,987.70 Not Applicable - unidentified businesses for future growth #and other business initiatives, and General Corporate Purposes A venuesAI Limited (Formerly known as Infibeam Avenues Limited) Regd. Office: th CIN: L64203GJ2010PLC061366 28 Floor, GIFT Two Building, Block No. 56, Road-5C, Zone-5, GIFT CITY, Tel: Fax: Email: Website: Gandhinagar – 382 050, Gujarat, India +91 79 67772204 | +91 79 67772205 | ir@avenuesai.com | www.avenuesai.com Deviat ion or variation could mean: – Not Applicable – Not a) DApevpilaitciaobnl ien 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 – Not Ap plicable c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, * etc. The Shareholders of the Company at the Annual General Meeting held on September 29, 2026 has approved in relation to variation in one of the objects of the Rights Issue, whereby the funds originally earmarked for investment in Nueromind Technologies Private Limited, Wholly Owned Subsidiary of the Company, for advanced technology development and AI software-related work, as set out in the Letter of Offer dated June 19, 2025, were reallocated for direct utilisation by AvenuesAI Limited (Holding Company) towards same object i.e. undertaking advanced technology development and AI software-related activities. The variation is limited to the mode of implementation. Meaning thereby, there is no change in the end use of the proceeds of the Rights Issue. During the quarter ended September 30, 2026, there was no deviation or variation in the use of proceeds of funds raised through Rights Issue of Equity Shares, from the objects stated in the Letter of Offer d#ated June 19, 2025. Amount of Rs. 347.16 Lakhs pertaining to 69,43,139 partly paid-up shares are no longer receivable, as the said shares were forfeited due to non payment of First and Final call money pursuant to the approval of Rights Issue committee at its meeting held on September 11, 2026. Consequently, the short fall of Rs. 347.16 Lakhs shall be adjusted against the General corporate purposes. ForAvenuesAI Limited ( Formerly known as Infibeam Avenues Limited) Shyamal Trivedi Sr. Vice President & Company Secretary AvenuesAI Limited (Formerly known as Infibeam Avenues Limited) Regd. Office: th CIN: L64203GJ2010PLC061366 28 Floor, GIFT Two Building, Block No. 56, Road-5C, Zone-5, GIFT CITY, Tel: Fax: Email: Website: Gandhinagar – 382 050, Gujarat, India +91 79 67772204 | +91 79 67772205 | ir@avenuesai.com | www.avenuesai.com