Shareholders meeting

July 20, 2026 Bombay Stock Exchange 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: Corrigendum to the Notice of the Extra Ordinary General Meeting (“EGM”) of Magellanic Cloud Limited (“the Company”) Dear Sir/Madam, We draw attention of all the shareholders of Magellanic Cloud Limited (“the Company”) to the Notice dated June 25, 2026, for convening the Extra Ordinary General Meeting of the Company (“EGM”) scheduled to be held on Friday, July 24, 2026 at 12 noon (IST). through Video Conferencing (“VC”) / Other Audio-Visual Means (“OAVM”). The EGM Notice has already been emailed to all the shareholders of the Company on July 02, 2026, in due compliance with the provisions of the Companies Act, 2013 read with relevant rules thereunder. This Corrigendum shall form an integral part of and should be read in conjunction with the Notice of EGM dated June 25, 2026. The same is also available on the website of the Company i.e. www.magellanic-cloud.com. Further, Schedule for the EGM including e-voting is as mentioned below: Cut-off date for e-voting Friday, July 17, 2026 E-voting commencement date Tuesday, July 21, 2026, at 09:00 a.m. (IST) E-voting conclusion date Thursday, July 23, 2026, at 05:00 p.m. (IST) EGM date and time Friday, July 24, 2026, at 12:00 noon (IST) You are requested to kindly note the same. Thanking You, Yours faithfully, For Magellanic Cloud Limited Joseph Sudheer Reddy Thumma Chairman & Managing Director DIN: 07033919 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 CORRIGENDUM TO THE NOTICE OF EXTRA ORDINARY GENERAL MEETING We draw attention of all the Members of Magellanic Cloud Limited (“the Company”) to the Notice dated June 25, 2026, convening the Extra Ordinary General Meeting (“EGM”) of the Company (“EGM Notice”) scheduled to be held on July 24, 2026, at 12.00 noon (IST), through Video Conferencing (“VC”) / Other Audio-Visual Means (“OAVM”). The EGM Notice has already been electronically sent to all the members of the Company on Thursday, July 02, 2026, whose email addresses were registered with the Company and/ or Depository Participant(s) in compliance with the provisions of the Companies Act, 2013 (“the Act”), the rules made thereunder, and the circulars issued by the Ministry of Corporate Affairs (“MCA”) and the Securities and Exchange Board of India (“SEBI”) (collectively referred to as “Circulars”). The Company had applied to BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) for in- principle approval for the issuance of 3,74,28,573 Equity Shares and 12,67,00,000 Convertible Warrants on a preferential basis for cash consideration. During NSE’s review, certain observations were raised by NSE for EGM Notice dated June 25, 2026. Accordingly, this Corrigendum to the EGM Notice (“Corrigendum”) is being issued to provide certain clarifications, modifications, and updates to the EGM Notice, pursuant to the observations of NSE, and in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”), the applicable provisions of the Act, the rules made thereunder, and the MCA Circulars. As the Members are aware, the Company is offering remote e-voting facility to enable the Members to cast their votes on all resolutions proposed to be transacted at the EGM. In order to facilitate informed decision-making, whether through remote e-voting or during the EGM via VC/OAVM, the Company considers it appropriate to bring to the Members’ attention the updated factual position through this Corrigendum. This Corrigendum shall form an integral part of the original EGM Notice and shall be read in conjunction therewith. Below are the modifications in the Resolution and Explanatory Statement of Item No.: 01 of the EGM Notice: 1. The Company submits that Mr. Vangala Reddy and Mr. Bharat Kumar Reddy Vangala refer to the same individual. Accordingly, the proposed allotment of 7,14,286 equity shares to Mr. Vangala Reddy (Sr. No. 6 of the EGM Notice) and the proposed allotment of 7,14,286 equity to Mr. Bharat Kumar Reddy Vangala (Sr. No. 9 of the EGM Notice), wherever appearing in the EGM Notice, shall henceforth be read as a single allotment to the said individual, as follows: Name of the Category No. of Equity No. of Name of the Ultimate Proposed Allottee (Promoter/ Shares Convertible Beneficial Owner Non Promoter) proposed to be warrants allotted proposed to be allotted Bharat Kumar Reddy Non Promoter 14,28,572 0 Bharat Kumar Reddy Vangala Vangala 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.:040-43366058 www.magellanic-cloud.com info@magellanic-cloud.com 2. The UBO details of PMC Fincorp Limited wherever appearing in the EGM Notice shall now to be read as follows: “The UBO details of PMC Fincorp Limited, the proposed allottee is Not Applicable since PMC Fincorp Limited is a Company listed on BSE Limited.” 3. Objects of the preferential issue The existing table in original EGM Notice dated June 25, 2026, under Utilization of Proceeds of the Issue under “Point 2 and Point 5 - Object of the Preferential Issue” in the Explanatory Statement of the EGM Notice shall now be read as follows: Sr. No. Objects of the Issue Amount (₹ in Crore) Timeline 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 The Company may utilize a portion of the proceeds 15.89# 24 Months 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.# Total 490.89# 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.:040-43366058 www.magellanic-cloud.com info@mag [Showing first 8,000 characters — download PDF for full document]