Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Rights Issue of Ace Software Exports Limited

Date: 11/08/2026 The Manager Department of Corporate Services, BSE Limited 25th Floor, P.J. Towers, Dalal Street Fort, Mumbai- 400001, Maharashtra BSE Code: 531525/890230 Sub.: Monitoring Agency Report for the quarter ended June 30, 2026 – in relation to the Rights Issue of Ace Software Exports Limited (“the Company”) Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 82(2) & 82(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find attached Monitoring Agency Report for the quarter ended June 30, 2026 issued by Brickwork Ratings India Private Limited, Monitoring Agency, appointed to monitor the utilisation of proceeds of the Rights Issue of the Company. The aforementioned information shall also be available on the Company's website www.acesoftex.com. You are requested to take the same on record. Thanking You, Yours Faithfully, For, Ace Software Exports Limited Mansi Patel Company Secretary & Compliance Officer Encl. As above Third Monitoring Agency Report for Ace Software Exports Ltd. for the quarter ended June 30, 2026 No. BWR/2026-27/IPM/ASEL/03 August 10, 2026 Mr. Amit Mansukhlal Mehta Managing Director and CEO Ace Software Exports Ltd. 609-619, Solitaire Connect, Nr. Gallops Motors, Makarba, S.G. Highway, Ahmedabad – 380015 Dear Sir, Third Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Right Issue of Equity Shares issue of Ace Software Exports Ltd. (“the Company”) Pursuant to Regulation (82) of the SEBI Issue of Capital and Disclosure Requirements Regulations, 2018 (SEBI ICDR Regulations) amended as on March 8, 2025 and Monitoring Agency Engagement Letter dated September 26, 2025, Brickwork Ratings (BWR) has prepared the Third Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilisation of proceeds of funds raised, for the quarter ended June 30, 2026. The funds raised by the Company were through Right Issue of Equity Shares with size of 60.18 crore out of which 27.08 Crore was received through application money. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated September 26, 2025. Request you to kindly take the same on records. Thanking you, Yours Faithfully, Mr Niraj Kumar Rathi Senior Director, Ratings - Brickwork Ratings Report of the Monitoring Agency (MA) Name of the issuer: Ace Software Exports Ltd. For quarter ended: June 30, 2026 Name of the Monitoring Agency: Brickworks Ratings India Private Limited (a) Deviation from the objects: No (b) Range of Deviation: Not Applicable Declaration: We declare that this report is based on the format prescribed by the SEBI (ICDR) Regulations, 2018, we further declare that this report provides a true and fair view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. We declare that we do not have any direct/indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have a credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name of the Authorized Signatory: Mr Niraj Kumar Rathi Designation of Authorized Person/Signing Authority: Senior Director, Ratings - Brickwork Ratings 1) Issuer Details: Name of the issuer: Ace Software Exports Ltd. Names of the promoter: Vikram Bhupat Sanghani, Sanjay Harilal Dhamsania and Amit Mansukhlal Mehta. Industry / sector to which it belongs: Information Technology. 2) Issue Details: Issue period: Nov 28, 2025 to Dec 18, 2025 Type of issue (public/ rights): Right Issue of Equity shares Type of specified securities: Equity Shares IPO Grading, if any: Not Applicable Issue size (in ₹ Crore): 60.18 Total Value as per Amount Particulars Number of Price (₹) Offer Document Received Securities (₹ Crore) (₹ Crore) Equity Shares-Right issue 5471101 49.5 27.08 27.08 Total 5471101 27.08 27.08 Note: The amount of Rs. 27.08 crore is partly paid-up equity share with price of Rs.49.5 per share. The remaining amount will be called as determined by board at its discretion as stated in Letter of Offer dated November 14, 2025, page 118. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of considered by Comments of Particulars Reply Board of Monitoring Monitoring Agency Directors Agency for preparation of report Bank Statements, Whether all utilization is as per the Yes Company’s Nil No Comments disclosures in the Offer Document? letter, CA Certificate Whether shareholder approval has been obtained in case of material Not Nil Nil No Comments deviations# from expenditures Applicable disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No Nil Nil No Comments has changed? Is there any major deviation observed over the earlier Nil No Comments Applicable Nil monitoring agency reports? Whether all Government/statutory approvals related to the object(s) Yes Company’s letter Nil No Comments have been obtained? Whether all arrangements pertaining to technical Not Nil Nil No Comments assistance/collaboration are in Applicable operation? Are there any favourable events improving the viability of these No Company’s letter Nil No Comments object(s)? Are there any unfavourable events affecting the viability of the No Company’s letter Nil No Comments object(s)? Is there any other relevant information that may materially No Not Applicable Nil No Comments affect the decision making of the investors? Notes: CA Certificate from J.A. Shah & Associates Chartered Accountants. #Where material deviation may be defined to mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds utilis [Showing first 8,000 characters — download PDF for full document]