ETHOS LIMITED — Capital/Financing Update 2025

Nov 8, 2025

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Ref. No.: Ethos/Secretarial/2025-26/78

Dated: November 08, 2025

Corporate Service Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra, Mumbai – 400001 Mumbai - 400051 Scrip Code: 543532 Trading Symbol: ETHOSLTD ISIN: INE04TZ01018

Subject: Statement of deviation or variation in the use of proceeds of Rights Issue of Ethos Limited for the quarter ended September 30, 2025

Dear Sir/Madam,

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 Rights Issue of the Company for the quarter ended on September 30, 2025 as mentioned in the placement document filed with the stock exchanges namely National Stock Exchange Limited, Bombay Stock Exchange Limited and the Registrar of Companies, Himachal Pradesh.

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

You are requested to please take on record the above-mentioned information for your reference and further needful.

Thanking You, Sincerely,

For Ethos Limited

SHUBHAM Digitally signed by SHUBHAM KANDHWAY KANDHWAY Date: 2025.11.08 15:57:36 +05'30' Shubham Kandhway Company Secretary & Compliance Officer

Encl: as above

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	Name of listed entity	Name of listed entity	Name of listed entity	Ethos Limited	Ethos Limited	Ethos Limited
	Mode of fund raising			Rights Issue(RI)
	Date of raising funds			July04,2025
	Amount raised			Upto Rs 40,990.50 lakh*
	Report filed forquarter ended			September 30,2025
	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			NA
	If Yes, Date of shareholder approval			NA
	Explanation for the deviation/ variation			NA
	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 c) Issue Related expenses No deviation from the objects.
							Amount in Rs. Lac
	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	31,000.00	N.A.	20,389.52	Not applicable	The Company has utilized the proceeds for vendor and salary payment.

Amount in Rs. Lacs

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GCP	Not applicable	9,611.48	N.A.	9,611.48	Not applicable	No proceeds were utilized towards the object during the reported quarter
Issue related expenses	Not applicable	379.02	N.A.	10.53	Not applicable	Proceeds were utilized for payment of fees to the intermediaries, advertisement, marketing, SEBI, Printing, etc.
Total		40,990.50		30,011.53

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.

SHUBHAM Digitally signed by SHUBHAM KANDHWAY KANDHWAY Date: 2025.11.08 15:58:07 +05'30'

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Name of the Signatory : Shubham Kandhway Designation : Company Secretary and Compliance Officer

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