The RP Committee approved the unaudited financial results for the quarter ended 30/06/2026 along with the limited review report given by the statutory auditors.

Independent Auditor’s Review Report on the Quarter ended June 30, 2026, Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. Review Report to The RP Committee Vas Infrastructure Limited, 1. We have reviewed the accompanying statement of unaudited financial results of VAS INFRASTRUCTURE LIMITED (“the company”) for the quarter ended June 30, 2026 (the “Statement”) attached herewith being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘the Regulation’) as amended, read with SEBI Circular No. CIR/CFD/CMD1/80/2019 dated July 19, 2019 (‘the Circular’). 2. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India, read with the Circular is the responsibility of the Company's management and has been approved by the RP Committee of the Company. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’ issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. Basis for Qualified Conclusion Material Uncertainty Related to Going Concern We draw your attention that the company has engaged with all its lenders for arriving at the debt resolution plan. Consequently, the accounts of the company have been prepared by the management on Going Concern Basis. In view of the significance of event, material uncertainty exists that cast significant doubt on the Company’s ability to continue as a going concern. Inventories shown at Historical Cost Further, inventories classified as work in progress have been recorded at historical cost due to the unavailability of their net realizable value. We draw attention to the fact that the Hon’ble National Company Law Tribunal (“NCLT”) vide its order dated 11th March 2024 – Order no. C.P. (IB) 314/MB/2023, admitted the Company into Corporate Insolvency Resolution Process (“CIRP”) under the provisions of the Insolvency and Bankruptcy Code, 2016 (“IBC”). Pursuant to the said order, the powers of the Board of Directors have been suspended and the management of the affairs of the Company is vested with the Resolution Professional (“RP”). During the review, we were informed that certain books of account, supporting documents, confirmations and reconciliations relating to various balances including trade receivables, Investments, trade payables, borrowings, statutory dues and other financial/non-financial assets and liabilities are under reconciliation/verification as part of the CIRP process. Canara Bank has classified the loan account of the Company as “Fraud” on 17th February 2026, pursuant to its internal investigation. Further, the Hon’ble National Company Law Tribunal, Mumbai Bench-II, vide its order dated 07.07.2026 passed in IA (IBC)(Plan) No.41/MB/2025 in CP (IB) No.314/MB/2023, rejected the Resolution Plan submitted by Authum Investment and Infrastructure Limited, the Successful Resolution Applicant, and directed re-initiation of the Corporate Insolvency Resolution Process of the Company from the stage of preparation of a fresh Information Memorandum and issuance of a fresh Form G, to be completed within 120 days from the date of uploading of the said order, with no extension of such period to be allowed under any circumstance. Accordingly, in absence of adequate and appropriate review/audit evidence, we are unable to comment upon the consequential impact, if any, on the accompanying financial results/statements including possible adjustments required in respect of:  Expected credit loss/impairment assessment of assets;  Completeness and accuracy of liabilities and contingent liabilities;  Claims submitted before and admitted by the Resolution Professional;  Going concern assumption adopted in preparation of financial results/statements. The impact thereof on the accompanying financial results/statements is presently not ascertainable. 4. Qualified Conclusion Based on our review conducted as above, with the exception of the matter described in Basis for Qualified Conclusion, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards i.e. Ind AS prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under or by the Institute of Chartered Accountants of India and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated 5th July, 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement. For Satyaprakash Natani and Co. Chartered Accountants Firm’s Registration Number: 115438W CA Satyaprakash Natani Partner Membership Number: 048091 Place: Mumbai Date: 11/08/2026 UDIN: 26048091UGKOHQ1420