SHADOWFAX TECHNOLOGIES LIMITED — Capital/Financing Update 2026

Apr 17, 2026

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April 17, 2026

To

National Stock Exchange of India Ltd Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (East) Mumbai – 400 051 NSE Symbol: SHADOWFAX

BSE Limited P J Towers, Dalal Street, Mumbai – 400 001 BSE Scrip Code: 544685

Dear Sir/ Madam,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“SEBI Listing Regulations”), and as disclosed in the Prospectus dated January 22, 2026, the Company had entered into share purchase agreement dated November 22, 2024 (“SPA”), with Criticalog India Private Limited (“CIPL”), Logon Investments GmbH, Mr. Sujoy Guha and Mr. Samir Baran Panda (“Founders of CIPL”), for purchase of 9,288 equity shares of face value of ₹ 650 each of CIPL (“CIPL Equity Shares”) in three tranches and 15,417 preference shares of face value ₹ 650 each of CIPL (“CIPL Preference Shares”). As on January 22, 2026, the Company had acquired two tranches of CIPL Equity Shares, i.e. 6,716 CIPL Equity Shares (representing 72.31% of the equity shareholding of CIPL) and 15,417 CIPL Preference Shares (representing 100% of the preference shareholding of CIPL, collectively representing 89.59% of the total shareholding of CIPL on a fully diluted basis) for a consideration of ₹ 481.55 million.

In accordance with the said SPA the Company is now acquiring the remaining and last tranche of Equity shares of CIPL from the Founder of CIPL. Consequently, CIPL will become a wholly owned subsidiary of the Company.

The details as required under Para A of Part A of Schedule III of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30th January 2026 (as amended) is provided in Annexure A.

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The information will also be made available on Company’s website at https://www.shadowfax.in/investor-relations/stock-exchange-announcement

Kindly take the above information on record.

For Shadowfax Technologies Limited

KRISHNAKANTH Digitally signed by KRISHNAKANTH VENKATA VENKATA GANGAVARAPU Date: 2026.04.17 13:26:18 GANGAVARAPU +05'30'

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Name: Krishnakanth Venkata Gangavarapu Designation: Company Secretary & Compliance Officer ICSI Membership No. A17291

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Annexure A

The details as required under Para A of Part A of Schedule III of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30th January 2026 (as amended).

Sl. No	Particulars	Details
a)	Name of the target entity, details in brief such as size, turnover etc.;	Criticalog India Private Limited (“CIPL”) CIPL is primarily engaged in the business of freight management, air and road express delivery, freight forwarding, intermodal transportation, warehousing, customs house clearance, trade compliance and supply chain management. The turnover of the CIPL as on March 31, 2025 is Rs. 1080.53 million.
b)	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	The acquisition would fall within the definition of related party transaction. Except to the extent of shares held by the Company in the CIPL, the promoters/ promoter group/ group companies do not have any interest in the said transaction.
c)	Industry to which the entity being acquired belongs;	Logistics
d)	Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	For the purposes of, inter alia, strategic initiatives and to strengthen our capacity to handle high- value, critical shipments effectively.

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e) Brief details of any governmental or regulatory approvals required for the acquisition Not Applicable f) Indicative time period for completion of the acquisition; April 2026 g) Consideration - whether cash consideration or share swap or any other form and details of the same; Cash consideration h) Cost of acquisition and/or the price at which the shares are acquired; No of shares to be acquired – 2,572 shares Cost of acquisition: 29,592 per share i) Percentage of shareholding / control acquired and / or number of shares acquired 2,572 shares constituting 10.41% of the paid up share capital of the Company j) Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); CIPL is primarily engaged in the business of freight management, air and road express delivery, freight forwarding, intermodal transportation, warehousing, customs house clearance, trade compliance and supply chain management. Turnover for FY25 – Rs. 1080.53 million Turnover for FY24 – Rs. 919.94 million Turnover for FY23 – Rs. 929.23 million Country of Presence – India ~ SHADOWFAX ~~~-~~----------~---------------,T~h=in~ka~~head!	e) Brief details of any governmental or regulatory approvals required for the acquisition Not Applicable f) Indicative time period for completion of the acquisition; April 2026 g) Consideration - whether cash consideration or share swap or any other form and details of the same; Cash consideration h) Cost of acquisition and/or the price at which the shares are acquired; No of shares to be acquired – 2,572 shares Cost of acquisition: 29,592 per share i) Percentage of shareholding / control acquired and / or number of shares acquired 2,572 shares constituting 10.41% of the paid up share capital of the Company j) Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); CIPL is primarily engaged in the business of freight management, air and road express delivery, freight forwarding, intermodal transportation, warehousing, customs house clearance, trade compliance and supply chain management. Turnover for FY25 – Rs. 1080.53 million Turnover for FY24 – Rs. 919.94 million Turnover for FY23 – Rs. 929.23 million Country of Presence – India ~ SHADOWFAX ~~~-~~----------~---------------,T~h=in~ka~~head!	e) Brief details of any governmental or regulatory approvals required for the acquisition Not Applicable f) Indicative time period for completion of the acquisition; April 2026 g) Consideration - whether cash consideration or share swap or any other form and details of the same; Cash consideration h) Cost of acquisition and/or the price at which the shares are acquired; No of shares to be acquired – 2,572 shares Cost of acquisition: 29,592 per share i) Percentage of shareholding / control acquired and / or number of shares acquired 2,572 shares constituting 10.41% of the paid up share capital of the Company j) Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); CIPL is primarily engaged in the business of freight management, air and road express delivery, freight forwarding, intermodal transportation, warehousing, customs house clearance, trade compliance and supply chain management. Turnover for FY25 – Rs. 1080.53 million Turnover for FY24 – Rs. 919.94 million Turnover for FY23 – Rs. 929.23 million Country of Presence – India ~ SHADOWFAX ~~~-~~----------~---------------,T~h=in~ka~~head!
e) ~~-~~	Brief details of any governmental or regulatory approvals required for the acquisition ~~----------~~	Not Applicable ~~---------------,n~~
f)	Indicative time period for completion of the acquisition;	April 2026
g)	Consideration - whether cash consideration or share swap or any other form and details of the same;	Cash consideration
h)	Cost of acquisition and/or the price at which the shares are acquired;	No of shares to be acquired – 2,572 shares Cost of acquisition: 29,592 per share
i)	Percentage of shareholding / control acquired and / or number of shares acquired	2,572 shares constituting 10.41% of the paid up share capital of the Company
j)	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	CIPL is primarily engaged in the business of freight management, air and road express delivery, freight forwarding, intermodal transportation, warehousing, customs house clearance, trade compliance and supply chain management. Turnover for FY25 – Rs. 1080.53 million Turnover for FY24 – Rs. 919.94 million Turnover for FY23 – Rs. 929.23 million Country of Presence – India

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