Fast Cables Limited — Capital/Financing Update 2026

Mar 4, 2026

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POWERING A

SUSTAINABLE FUTURE WITH GLOBAL EXCELLENCE

Annual Progress Report on U�liza�on of IPO Proceeds June 30, 2025

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TABLE OF CONTENTS

Agreed Upon Procedure Auditors Report	02
Progress Report on U�liza�on of Proceeds of Ini�al Public Ofering (IPO)	04
Annexure-A - Project Site	08

FAST CABLES LIMITED

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AGREED UPON PROCEDURE AUDITORS REPORT

FAST CABLES LIMITED

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FAST CABLES LIMITED 03

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ANNUAL PROGRESS REPORT ON UTILIZATION OF PROCEEDS OF INITIAL PUBLIC OFFERING (IPO) TILL JUNE 30, 2025, UNDER REGULATION 16 (ii) OF CHAPTER VIII OF THE PUBLIC OFFERING REGULATIONS, 2017, REVIEWED BY AUDITORS

February 24, 2026

The General Manager Pakistan Stock Exchange Limited Stock Exchange Building, Stock Exchange Road, Karachi

ANNUAL PROGRESS REPORT ON UTILIZATION OF PROCEEDS OF INITIAL PUBLIC OFFERING (IPO) TILL JUNE 30, 2025, UNDER REGULATION 16(ii) OF CHAPTER VIII OF THE PUBLIC OFFERING REGULATIONS, 2017, REVIEWED BY AUDITORS

Dear Sir,

We are pleased to share the annual progress report on u�liza�on of proceeds of ini�al Public Offering (IPO) �ll June 30, 2025, under regula�ons 16(ii) of Chapter VIII of the public offering regula�ons, 2017, along with agreed upon procedures report thereon by the external auditors of the Company M/s. Crowe Hussain Chaudhury & Co.

Brief Introduc�on

Fast Cables Limited (“the company”) successfully raised funds through an Ini�al Public Offering (IPO) to fuel the expansion of its exis�ng business. The IPO involved the issuance of 128 million ordinary shares (face value of Rs 10 each), raising a total of Rs. 3,129,600,000 at a strike price of Rs. 24.45 per share. As a result, 20.35% of the Company's post-IPO share capital was made available to the public and ins�tu�onal investors. The process of lis�ng the shares on the Pakistan Stock Exchange and commencing trading was successfully completed on 10 June 2024.

The current status of the project's implementa�on, as outlined in Note 4.6 of the prospectus, is summarized in the table below:

FAST CABLES LIMITED 04

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(a) Annual implementa�on status of the project/commitment made in the Prospectus is given below:

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FAST CABLES LIMITED

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(b) Detailed Break up of u�liza�on of the proceeds raised from the IPO:

	Rupees in thousands Descrip�on	Rupees in thousands Descrip�on
	Receipt against issuance of 128 Million ordinaryshares at Rs. 24.45per share 3,129,600
	Proft earned on bank deposits in savingaccount 29,786
	Return on investments in mutual funds 289,900
	Related taxa�on on bank deposits and mutual funds (79,025)
	IPO Proceed 3,370,261
	Less: Workingcapital se�lement	(121,600)
	Less: Expenditures incurred �ll 30 June,2025	(1,791,368)
	U�liza�on Upto 30 June,2025 (1,912,968)
	Un-u�lized IPOproceeds as at 30 June 2025 1,457,293
	Breakup of expenditures incurred �ll 30 June 2025
	Plant & Machinery (P&M)	774,099
	Land	130,160
	BuildingConstruc�on	589,678
	Du�es and others - P&M	26,802
	Installa�on & erec�on works - P&M(included in building)	-
	Con�ngency	2,441
	Repayments of long-term fnancing- P&M	240,671
	Repayments of long-term fnancing- Building	27,517
	1,791,368

Your Truly,

For and on behalf of FAST CABLES LIMITED

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___ Usman Ahmad

Enclosed: External Auditors (Crowe Hussain Chaudhury & Co.) agreed upon procedures reports on u�liza�on of IPO Proceeds.

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ANNEXURE-A - PROJECT SITE UNIT-II OF FAST CABLES LIMITED

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FAST CABLES LIMITED 08

Global Reach

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Afghanistan
Iraq
Jordan
Canada
Jamaica Pakistan
UAE
Ghana Oman
São Tomé & Príncipe Saudi Arabia
Yemen
Uganda
Tanzania
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UAN: 042-111-000-343

investor.rela�ons@fast-cables.com

www.fast-cables.com

192-Y Commercial Area DHA Phase III, Lahore, Pakistan

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