Statement on deviation or variation in utilization of funds raised by the Company for quarter ended September 30, 2026

VELOX SHIPPING AND LOGISTICS LIMITED (FORMERLY VELOX INDUSTRIES LIMITED) Regd. Office: 902 Filix Commercial Complex, opp Asian Paints L.B.S. Marg, Bhandup Mumbai 400078 Maharashtra, India Ph.: +91 2262536600, 9082267347 Email: veloxindustriesltd@gmail.com CIN: L52242MH1983PLC029364 REF: VELOX/ BSE/ 2026-27 Date: 07/11/2026 The Manager, Lis(cid:415)ng Compliance Department BSE Limited 25th Floor, P. J. Towers Dalal Street Mumbai – 400 001 BSE SCRIP CODE – 506178 Dear Sir/ Madam, Sub: Statement on Deviation or Variation in utilization of Funds raised through Preferential allotment Pursuant to the provisions of Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019 regarding “Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc.” We hereby confirm that there is a partial deviation or variation in the use of proceeds of the preferential allotment from the objects stated in the Letter of Offer. A Statement of Deviation or variation, duly reviewed by the Audit Committee of the Company, is given in “Annexure A”. The Company has raised the funds as follows: 1. Rs.7,62,50,000/- through the preferential allotment, which have been partially utilized during the quarter ended September 30, 2026. 2. Rs.9,19,02,096/- by way of conversion of warrants into equity shares of those allottees who have made the payment of balance 75% of the consideration, which has not been utilized yet during the quarter ended September 30, 2026. You are kindly requested to take the same on your record. Thanking you. Yours sincerely, FOR VELOX SHIPPING AND LOGISTICS LIMITED (Formerly Velox Industries Limited) SUSHIL SINDHKAR DIRECTOR DIN: 10191316 Place: Mumbai VELOX SHIPPING AND LOGISTICS LIMITED (FORMERLY VELOX INDUSTRIES LIMITED) Regd. Office: 902 Filix Commercial Complex, opp Asian Paints L.B.S. Marg, Bhandup Mumbai 400078 Maharashtra, India Ph.: +91 2262536600, 9082267347 Email: veloxindustriesltd@gmail.com CIN: L52242MH1983PLC029364 “Annexure A” 1. Statement of Deviation/ Variation in utilisation of funds raised: Name of listed entity Velox Shipping and Logistics Limited Mode of Fund Raising Preferential Issue of Equity Shares Date of Raising Funds August 26, 2022 Amount Raised Rs.7,62,50,000/- Report filed for Quarter ended September 30, 2026 Monitoring Agency Not Applicable Monitoring Agency Name, if applicable Not Applicable Is there a Deviation/ Variation in use of Yes funds raised If yes, whether the same is pursuant to Yes change in terms of a contract or objects, which was approved by the shareholders If yes, Date of shareholder Approval June 13, 2025 Explanation for the Deviation/ Variation The Company is looking forward to invest and expand its business. The Company will grow both organically and inorganically through roll up acquisitions. The Company Believes the time is now ripe for the roll up and invest in other Companies and firms. The return on investment from the investments are looking significantly good. Also, the Company aims at other inorganic acquisitions as required in the due course of business. Comments of the Audit Committee after Not Applicable review Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a devia(cid:415)on, in the following table: Original Object Modified Original Modified Funds Amount of Remarks, if any Object, if any allocation Allocation, Utilized deviation/ if any variation for the quarter according to applicable object Company's Acquisition or 7,62,50,000 7,62,50,000 1,44,69,974 1,44,69,974 The Company growth capital investment in a had completed requirements, foreign entity the investment to meet the named in 98% stake of Company's ‘International ILA. capital Logistics expenditure, to Associates LLC enhance its “ILA”, VELOX SHIPPING AND LOGISTICS LIMITED (FORMERLY VELOX INDUSTRIES LIMITED) Regd. Office: 902 Filix Commercial Complex, opp Asian Paints L.B.S. Marg, Bhandup Mumbai 400078 Maharashtra, India Ph.: +91 2262536600, 9082267347 Email: veloxindustriesltd@gmail.com CIN: L52242MH1983PLC029364 long-term Other inorganic 7,62,50,000 7,62,50,000 0 0 - resources and acquisitions if thereby necessary strengthening of the financial structure of the Company and Working capital 7,62,50,000 7,62,50,000 0 0 - for meeting requirements working capital of the company requirements Other General 7,62,50,000 7,62,50,000 0 0 - and for other corporate general purposes corporate purposes. 2. Statement of Deviation/ Variation in utilisation of funds raised during quarter: Name of listed entity Velox Shipping and Logistics Limited Mode of Fund Raising Preferential Issue of convertible warrants into Equity Shares Date of Raising Funds August 17, 2026 Amount Raised Rs.6,89,26,572/-* Report filed for Quarter ended September 30, 2026 Monitoring Agency Not Applicable Monitoring Agency Name, if applicable Not Applicable Is there a Deviation/ Variation in use of funds No raised If yes, whether the same is pursuant to change Not Applicable in terms of a contract or objects, which was approved by the shareholders If yes, Date of shareholder Approval Not Applicable Explanation for the Deviation/ Variation Not Applicable Comments of the Audit Committee after review Not Applicable Comments of the auditors, if any Not Applicable *Amount representing 25% of total consideration payable for 76,58,508 warrants being converted into equity shares was received by the Company at the time of allotment of warrants made May 16, 2026. Objects for which funds have been raised and where there has been a devia(cid:415)on, in the following table: Original Modified Original Modified Funds Amount of Remarks, if Object Object, if any allocation Allocation, Utilized deviation/ variation any if any for the quarter according to applicable object Not Applicable VELOX SHIPPING AND LOGISTICS LIMITED (FORMERLY VELOX INDUSTRIES LIMITED) Regd. Office: 902 Filix Commercial Complex, opp Asian Paints L.B.S. Marg, Bhandup Mumbai 400078 Maharashtra, India Ph.: +91 2262536600, 9082267347 Email: veloxindustriesltd@gmail.com CIN: L52242MH1983PLC029364 Devia(cid:415)on or varia(cid:415)on could mean: (a) Devia(cid:415)on in the objects or purposes for which the funds have been raised or (b) Devia(cid:415)on in the amount of funds actually u(cid:415)lized 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. Yours sincerely, FOR VELOX SHIPPING AND LOGISTICS LIMITED (Formerly Velox Industries Limited) SUSHIL SINDHKAR DIRECTOR DIN: 10191316 Place: Mumbai