ETHOS LIMITED — Capital/Financing Update 2025

Nov 8, 2025

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Ref. No.: Ethos/Secretarial/2025-26/77

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 Qualified Institutional Placement 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 Qualified Institutional Placement 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 Qualified Institutional Placement of the Company. The aforesaid statement is also being made available on the Company website i.e., https://www.ethoswatches.com/investorsinformation/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 15:46:14 +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	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 lakhs)
	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			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.
							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	13,125.00	N.A.	13,125.00	Not applicable	Proceeds were utilized towards the working capital payment during the quarter.

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General corporate purpose	Not applicable	3,834.64	N.A.	334.50	Not applicable	Proceeds were utilised Towards ordinary course of business
Total		16,959.64	N.A.	13,458.68

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 15:46:46 +05'30'

________

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

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