ETHOS LIMITED — Capital/Financing Update 2024

May 14, 2024

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Ref. no. : Ethos/Secretarial/2024-25/15

Dated: May 14, 2024

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra, Mumbai - 400 051

Scrip Code : 543532

Trading symbol : ETHOSLTD

• ISIN : INE04TZ01018

Subject : Statement of deviation or variation in the use of proceeds of Qualified Institutional Placement of Ethos Limited for the quarter ended March 31, 2024

Dear Sir/Ma’am

Greetings from Ethos.

Pursuant to Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Securities and Exchange Board of India Circular CIR/CFD/CMD1/162/2019 dated December 24, 2019, we wish to inform you that there are no deviation(s) or variation(s) in respect of utilization of proceeds of Qualified Institutional Placement of the Company for the quarter ended on March 31, 2024 as mentioned in the object clause of the Placement Document filed with the stock exchanges namely BSE Limited and National Stock Exchange of India Limited.

In this regard, we are also enclosing herewith the Statement of deviation or variation in the use of proceeds of the Qualified Institutional Placement of the Company. The aforesaid statement is also being made available on the Company website i.e., https://www.ethoswatches.com/investors-information.

We would request you to please take the same in your records and oblige.

Thanking you

Yours truly For Ethos Limited

Anil Digitally signed by Anil Kumar Kumar Date: 2024.05.14 18:05:02 +05'30' Anil Kumar Company Secretary & Compliance Officer Membership no. F8023

Encl.: as above

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Anil Kumar

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Name of listed entity Ethos Limited	Name of listed entity Ethos Limited
Mode of fund raising Qualified Institutional Placement
Date of raising funds November 3,2023
Amount raised The issue of 11,31,210 Equity Shares aggregating to Rs 17,499.82 lakhs (netproceeds of Rs 16,959.64)
Report filed forquarter ended March 31,2024
Monitoring Agency Applicable
Monitoring Agency name, if applicable CRISIL Ratings Limited
Is there a Deviation/ Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders Not Applicable
If Yes, Date of shareholder approval Not Applicable
Explanation for the deviation/ variation Not Applicable
Comments of the Audit Committee after review No Comments
Comments of the auditors, if any No Comments
Objects for which funds have been raised and where there has been a deviation, in the following table	a) Funding working capital requirements of the Company, b) General Corporate Purposes No deviation from the objects.

Digitally signed by Kumar Date: 2024.05.14 18:05:33 +05'30'							Amount in Rs. Lacs Remarks, if any --- --
	Original object	Modified object, if any	Original allocation	Modified allocation, if any	Funds utilized	Amount of deviation / variation for the quarter according to the applicable object	Remarks, if any
	Funding working capital requirements of the Company	Not applicable	13,125.00	N.A.	Nil	Not applicable	---
	General corporate purpose Anil	Not applicable	3,834.64	N.A.	Nil	Not applicable	--

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Total 16,959.64 N.A. Nil

Deviation or variation could mean:

• (a) Deviation in the objects or purposes for which the funds have been raised or

• (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or

• (c) Change in terms of a contract referred to in the fund-raising document i.e., prospectus, letter of offer, etc.

Digitally signed by Anil Anil Kumar Kumar Date: 2024.05.14 18:05:51 +05'30'

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Name of the Signatory : Anil Kumar Designation : Company Secretary and Compliance Officer

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