Amendment to the Objects of the Preferential Issue

August 12, 2026 BSE Limited, National Stock Exchange of India Ltd., Dept. of Corporate Services, Dept. of Corporate Services, 14th Floor, P.J. Towers, Dalal Street, Exchange Plaza, Bandra- Kurla Complex, Fort, Mumbai - 400001 Bandra (East), Mumbai - 400051 Scrip Code: 538891/Scrip ID : MCLOUD Symbol: MCLOUD/Series: EQ Sub: Intimation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Amendment to Objects of the Preferential Issue Dear Sir/Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Notice of the Extra-Ordinary General Meeting dated June 25, 2026, (“ EGM Notice”) the Corrigendum to the Notice dated July 20, 2026 (“Corrigendum”), we wish to inform you that the proceeds from the issue of 3,69,28,573 Equity Shares and 12,67,00,000 Convertible Warrants on a preferential basis, as approved by the members at the Extra-Ordinary General Meeting held on July 24, 2026, shall be utilized in accordance with the allocation specified under the head “Objects of the Issue” in the Notice and the Corrigendum. The Company had filed applications with the stock Exchanges for seeking In-principle approval in relation to the proposed preferential issue in respect of which the approval of the shareholders was sought. Thereafter, the Company had received certain observations from the Stock Exchanges in connection with the Company’s In-Principle Application, the Object No. 6, as stated in the Notice and Corrigendum: “The Company may utilize a portion of the proceeds towards strategic acquisitions, technology acquisitions, investments, joint ventures, purchase of businesses, assets, intellectual property, and related growth opportunities, as may be identified from time to time, in accordance with applicable laws and regulations.” shall henceforth be read as: “Acquisition for inorganic growth opportunities.” Accordingly, this disclosure is being issued to provide clarifications/modifications/updations to the EGM Notice dated June 25, 2026 and Corrigendum to the Notice dated July 20, 2026 as mentioned hereinafter, pursuant to the observations of the Stock Exchange and in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (‘SEBI ICDR Regulations’); applicable provisions of the Companies Act, 2013 and rules made thereunder read with the MCA Circulars. MAGELLANIC CLOUD LIMITED Formerly known as South India Projects Limited CIN: L72100TG1981PLC169991 Registered Office: 6th Floor, Dallas Center, 83/1, Plot No A1 Knowledge City, Rai Durg Hyderabad Rangareddi TG 500032 Telephone No.: 040-46515454 www.magellanic-cloud.com info@magellanic-cloud.com The objects of the issue on a consolidated basis shall now be read as follows: Sr. No. Objects of the Issue Amount (₹ in Timeline Crore) 1 To invest/ infuse funds in our newly incorporated 150.00 24 Months subsidiary MCRAY Xtend India Private Limited ("MC- RAY") for developing the state of art drone manufacturing facility for the rights of the Technology with Xtend (Isreal Company) to fund the Capital expenditure towards purchase Land Building, Plant and Machinery at our facility at Hyderabad (the "Phase-1 Drone Project"). 2 Funding the Company's incremental working capital 100.00 18 Months requirements The working capital requirement is primarily towards supporting the execution of the Company's existing order book, including E-Surveillance and Drone business orders, and meeting day-to-day operational requirements such as procurement of inventory, vendor payments, employee costs and other short-term financial obligations. 3 Repayment/pre-payment, in full or in part, of existing 50.00 18 Months borrowings and other indebtedness, including loans and inter-corporate deposits availed from subsidiaries, group entities, banks, financial institutions and/or other lenders. 4 To carry on research, development, design, integration, 75.00 24 Months testing, and commercialization activities relating Drone and Counter-UAV technologies, including through technology transfer arrangements, innovation initiatives, procurement of components and equipment, and establishment of requisite laboratories, manufacturing, and testing facilities. 5 General Corporate Purposes 100.00 18 Months 6 Acquisition for inorganic growth opportunities 15.89 24 Months Total 490.89 All other Objects of the Issue, terms and conditions as set out in the Notice and Corrigendum shall remain unchanged. The above clarification and update form part of the EGM Notice dated June 25, 2026, and Corrigendum to the Notice dated July 20, 2026, and are being disseminated for the information of the Members and other stakeholders. The Company remains committed to ensuring timely disclosures, obtaining all requisite approvals, and complying with the letter and spirit of all applicable laws, regulations and regulatory requirements. We request you to kindly take the above information on record Thanking You, Yours Faithfully, For Magellanic Cloud Limited Sameer Rajkumar Lalwani Company Secretary & Compliance Officer Membership no. 57275 MAGELLANIC CLOUD LIMITED Formerly known as South India Projects Limited CIN: L72100TG1981PLC169991 Registered Office: 6th Floor, Dallas Center, 83/1, Plot No A1 Knowledge City, Rai Durg Hyderabad Rangareddi TG 500032 Telephone No.: 040-46515454 www.magellanic-cloud.com info@magellanic-cloud.com