ETHOS LIMITED — Capital/Financing Update 2026

May 12, 2026

ethos WATCH BOUTIQUES

Ref. No.: Ethos/Secretarial/2026-27/15

Dated: May 12, 2026

Corporate Service Department
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai – 400001

Living Department
National Stock Exchange of India Limited
Exchange Plaza, C-1, Block G,
Bandra Kurla Complex, Bandra,
Mumbai - 400051

Scrip Code: 543532
ISIN: INE04TZ01018
Trading Symbol: ETHOSLTD

Subject: Statement of deviation or variation in the use of proceeds of Rights Issue of Ethos Limited for the quarter ended March 31, 2026

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 March 31, 2026 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.

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

Thanking You,
Sincerely,

For Ethos Limited

MUNISH
GUPTA
Digitally signed by
MUNISH GUPTA
Date: 2026.05.12
15:41:43 +05'30'

Munish Gupta
Chief Financial Officer
Encl: as below

---

ETHOS LIMITED

Registered Office:
Plot No. 3, Sector III, Parwanoo,
Himachal Pradesh - 173220, India

Corporate Office:
Kamla Centre, S.C.O. 88-89, Sector 8-C,
Chandigarh - 160009, India

Head Office:
Global Gateway Towers A, 1st Floor, MG Road,
Sector 26, Gurugram, Haryana - 122002, India

Contact: 0172-2548223 / 24 • Email: info@ethoswatches.com • Website: www.ethoswatches.com
PAN : AADCK2345N • CIN : LS2300HP2007PLC030800

---

ethos
WATCH BOUTIQUES

Name of listed entity	Ethos Limited
Mode of fund raising	Rights Issue (RI)
Date of raising funds	July 04, 2025
Amount raised	Upto Rs 40,990.50 lakh*
Report filed for quarter ended	March 31, 2026
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. Lacs

Original object	Modified object, if any	Original allocation	Modified allocation, if any	Funds utilized as on date	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.	10,610.48	Not applicable	No proceeds were utilized towards the object during the reported quarter.

ETHOS LIMITED

Registered Office:
Plot No. 3, Sector III, Parwanoo,
Himachal Pradesh - 173220, India

Corporate Office:
Kamla Centre, S.C.O. 88-89, Sector 8-C,
Chandigarh - 160009, India

Head Office:
Global Gateway Towers A, 1st Floor, MG Road,
Sector 26, Gurugram, Haryana - 122002, India

Contact: 0172-2548223 / 24 • Email: info@ethoswatches.com • Website: www.ethoswatches.com
PAN : AADCK2345N • CIN : L52300HP2007PLC030800

---

ethos
WATCH BOUTIQUES

GCP	Not applicable	9,611.48	N.A.	-	Not applicable	No proceeds were utilized towards the object during the reported quarter
Issue related expenses	Not applicable	379.02	N.A.	368.49	Not applicable	No proceeds were utilized towards the object during the reported quarter
Total		40,990.50		10,978.97

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.

MUNISH GUPTA
Digitally signed by
MUNISH GUPTA
Date: 2026.05.12
15:41:58 +05'30'

Name of the Signatory : Munich Gupta
Designation : Chief Financial Officer

• ETHOS LIMITED

Registered Office:
Plot No. 3, Sector III, Parwanoo,
Himachal Pradesh - 173220, India

Corporate Office:
Kamla Centre, S.C.O. 88-89, Sector 8-C,
Chandigarh - 160009, India

Head Office:
Global Gateway Towers A, 1st Floor, MG Road,
Sector 26, Gurugram, Haryana - 122002, India

Contact: 0172-2548223 / 24 • Email: info@ethoswatches.com • Website: www.ethoswatches.com
PAN : AADCK2345N • CIN : L52300HP2007PLC030800