Copy of the Introduction of the Subsidiary- Compliance Kart Private Limited

MSL GLOBAL LIMITED. (formerly known as MADHUSUDAN SECURITIES LIMITED) Regd. Office: 37, National Storage Building, Plot No, 424-B, Nr. Johnson & Johnson Building, S. B. Road, Mahim (West), Mumbai - 400 016. Tel No. 9867658845, Email id: mslsecurities@yahoo.com , CIN: L18109MH1983PLC029929 Date: 14/08/2026 BSE Ltd. P. J. Towers Dalal Street, Mumbai - 400 001. BSE Scrip Code: 511000 Dear Sir/Madam, Sub: ComplianceKart – An introduction. In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find enclosed a copy of the Introduction of the Subsidiary – Compliance Kart Private Limited. We request you to take the same on record. Thanking you, Yours faithfully, For MSL Global Limited (Formerly Known as Madhusudan Securities Limited) Salim Pyarali Govani Managing Director DIN: 00364026 MSL GLOBAL ComplianceKart — An Introduction August 2026 MSL GLOBAL HOLDING CARBON PROJECTS REGISTRIES PLATFORMS LIVE HECTARES MONITORED 75% 17 5 2 6,744 01 ABOUT ComplianceKart Compliance Kart Pvt. Ltd., a subsidiary of MSL Global Ltd., is a carbon market and climate technology company. Project development Advisory & consultancy Develops nature‑based and industrial carbon projects with government, public sector, farmer Carbon and ESG consulting, financed‑emissions accounting under PCAF, auditing and corporate producer and private partners. advisory. Technology Scale Builds and operates the ENVR platform suite — a carbon credit and I‑REC marketplace, a digital Seventeen carbon projects in development, nine of them carrying an identifier with an MRV system, and a financed‑emissions accounting platform for banks. international carbon registry. IN SHORT We build carbon projects, we advise the companies and institutions that have to account for their emissions, Salim Pyarali Govani and we build the software that measures both. The three reinforce each other — the projects prove the Managing Director DIN: 00364026 software works, and the software makes the projects cheaper to run. MSL Global Our projects are developed in India. The credits, the registries and the buyers are international. CARBON REGISTRIES WE WORK ACROSS Verra — Verified Carbon Standard Puro.earth SocialCarbon ICR Cercarbono PROGRESS Where we are today 01 Seventeen carbon projects in development, spanning afforestation and reforestation, regenerative agriculture, bamboo biochar, energy efficiency and waste handling. 02 Nine projects carry a registry identifier across five international registries. Four are listed, three are under validation, and two are in pre‑registration or under listing. 03 Two biochar facilities registered and operating under the Puro.earth carbon removal standard, converting sustainably sourced bamboo into biochar through controlled pyrolysis. 04 6,744 hectares under active monitoring on our own digital MRV platform, with field data collected through a mobile app built in‑house. 05 Two software platforms live in production and a third built and ready to deploy — a carbon credit and I‑REC marketplace, a digital MRV system, and a financed‑emissions platform for banks. PORTFOLIO The portfolio at a glance Seventeen projects spanning afforestation and reforestation, regenerative agriculture, biochar, energy efficiency and waste handling. 17 9 4 5 6,744 PROJECTS IN PORTFOLIO CARRY A REGISTRY IDENTIFIER LISTED ON A REGISTRY CARBON REGISTRIES HECTARES MONITORED STAGE PROJECTS REGISTRIES INVOLVED PROJECT TYPE PROJECTS Listed on a public registry 4 ICR, Cercarbono, Verra Regenerative agriculture 5 Under validation / verification 3 Verra, ICR Afforestation & reforestation (ARR) 4 Pre‑registration or under listing 2 SocialCarbon, Puro.earth Waste handling and disposal 3 In preparation 8 Registry to be finalised Bamboo biochar (carbon removal) 2 Energy efficiency 2 Nature‑based solutions (AFOLU, mixed) 1 Counterparties span state government agencies, public sector undertakings, farmer producer organisations and private companies. TECHNOLOGY Three Platforms, One Carbon Market ENVR operates three independent platforms, each covering a distinct stage of the carbon market. Two are live in production. envr.earth envrvision.earth envrledger.earth CARBON CREDIT & I‑REC MARKETPLACE DIGITAL MRV (DMRV) FINANCED EMISSIONS ACCOUNTING Connects sellers and buyers to buy and sell voluntary Used by project developers to plan, monitor and Carbon finance emissions platform for banks and carbon credits and I‑RECs, and manages the process measure climate projects, from field data collection financial institutions, developed under the PCAF through to credit transfer. through to reporting. framework. PRODUCTION LIVE PRODUCTION LIVE READY TO DEPLOY USERS Corporates, manufacturing industry, traders USERS Project developers and proponents USERS Banks and financial institutions 51 projects listed on envr.earth 4 active projects on ENVR Vision 6,744 hectares monitored PCAF framework for ENVR Ledger THE MARKET Two markets for the same tonne A carbon credit is one tonne of carbon dioxide either kept out of the atmosphere or removed from it — measured, independently audited, and issued a serial number by a registry. Someone has to build the project that produces the tonne. Someone else buys it and retires it against their own emissions. Two separate markets have formed around that trade. The voluntary market The compliance market COMPANIES BUY BECAUSE THEY CHOSE TO COMPANIES BUY BECAUSE THE LAW REQUIRES IT A corporation announces a net‑zero target, cannot cut every tonne itself, and buys A government caps what regulated emitters may release and requires each to credits to cover the gap. Nobody compels the purchase — reputation, customers surrender allowances or credits against that cap. Falling short means buying, and and investors do. Buyers are corporates worldwide; the credits are certified by buying at whatever the market charges. These schemes are far larger than the international registries and can be sold across borders. voluntary market and are spreading — India’s came into force in 2025‑26. This is the market our projects sell into today. Both markets need the same thing: verified tonnes. THE SIZE OF IT $103bn 28% 80 $10–40bn 700m+ COLLECTED BY GOVERNMENTS OF GLOBAL EMISSIONS NOW CARBON PRICING SYSTEMS IN ESTIMATED VOLUNTARY MARKET TONNES CO₂E COVERED BY FROM CARBON PRICING IN 2024 CARRY A CARBON PRICE OPERATION WORLDWIDE BY 2030 INDIA’S COMPLIANCE MARKET WORLD BANK WORLD BANK WORLD BANK MSCI ICAP World Bank, State and Trends of Carbon Pricing 2025. MSCI Carbon Markets, Future Size of the Voluntary Carbon Market. International Carbon Action Partnership. The average price of a priced tonne has roughly doubled in real terms since 2015, to around US$19. 06 OUR POSITION Five ways to earn from the same tonne Most participants in this market do one thing. A developer builds projects and sells them wholesale. A software firm sells software. A consultancy sells advice. We built the whole chain, and each link earns on its own. 01 02 03 04 05 Develop Certify & Monitor Sell Advise issue Build the project with a Measure and evidence it on our List and transact the credits on Carbon and ESG consulting, landowner, government body or Take it through an international own digital MRV platform, rather our own marketplace, alongside financed‑emissions accounting for industrial partner, and hold an registry, from listing and than paying a third party for the credits from other developers. banks under PCAF, and audit and economic interest in what it validation to verified credits with data that decides issuance. consultancy work. issues. serial numbers. WHY WE ENTERED WHERE WE ARE GOING The market stopped being optional Through to issuance, and onto our own platform Governments already collect over $100 billion a year from carbon pricing, and more Moving the portfolio from listing and validation to issued credits is the largest step in than [Showing first 8,000 characters — download PDF for full document]