SOLARA ACTIVE PHARMA SCIENCES LIMITED — Capital/Financing Update 2025

Jul 25, 2025

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 47406200 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

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July 25, 2025

The BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001	The National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai–400 051

Scrip Code: 541540, 890202 Scrip Code: SOLARA, SOLARAPP1

Dear Sir / Madam,

Sub: Disclosure in terms of Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) – “Utilization of Proceeds & Statement of Deviation / Variation” of Solara Active Pharma Sciences Limited

As per the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 and SEBI Circular no. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, and pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of proceeds raised through Rights Issue.

The above referred Statement of Utilization of Proceeds & Statement of Deviation / Variation, for the quarter ended June 30, 2025, was placed before the Audit Committee of the Company, at its meeting held today i.e., July 25, 2025, wherein the Audit Committee has noted the same and approved for submission with the Stock Exchanges, without any comments thereon.

We request you to kindly take the same on record.

Thanking You,

Yours Faithfully,

For Solara Active Pharma Sciences Limited

POOJA JAYA Digitally signed by POOJA JAYA KUMAR KUMAR Date: 2025.07.25 13:35:14 +05'30' Pooja Jaya Kumar Company Secretary & Compliance Officer Membership No: A57415

Encl.: as above

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636 Registered Office: 9[th ] Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22-2789 2924

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 47406200 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

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Reg. 32 - Statement of Deviation / Variation in utilization of funds raised

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Name of listed entity Solara Active Pharma Sciences Limited
Mode of Fund Raising Rights Issue
Date of Raising Funds May 06, 2025
Amount Raised (In crores) Rs.149.49/-
Report filed for Quarter ended June 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 Not applicable
a contract or objects, which was approved by the
shareholders
If Yes, Date of shareholder Approval Not applicable
Explanation for Deviation / Variation Not applicable
Comments of the Audit Committee after review No comments from the Audit Committee
Comments of the auditors, if any Not applicable
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*Amount received during the quarter on making the First call

Objects for which funds have been raised and where there has been a deviation, in the following table

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Original Modified Original Modified Funds Amount of Remarks
Object Object, Allocation allocation, Utilised Deviation/Variation
if any if any for the quarter if
according to any
applicable object
Repayment or Nil Rs.115.00 Nil Rs.115.00 Nil No
Pre-payment in Crores Crores Comments
full or part of
certain
outstanding
Borrowings
availed by the
Company
General Nil Rs. 23.27/- Nil Rs. 23.27/- Nil No
Corporate Crores Crores Comments
Purpose
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On March 26, 2025, the Rights Issue Committee approved the Rights Issue First Call of ₹131.25 per Rights Share (₹3.50 face value and ₹127.75 securities premium) for 1,19,98,755 partly paid Rights Shares, as per the Letter of Offer dated May 09, 2024. The First Call payment window was open from April 16, 2025 to April 30, 2025.

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636

Registered Office: 9[th ] Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22-2789 2924

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 47406200 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

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The Rights Issue Committee on May 06, 2025, took note of receipt of 1[st] call money amounting ₹149.49 crores and approved conversion of 1,13,89,767 partly paid shares of Rs. 3.5 per shares to partly paid of Rs. 7 per shares.

Out of the funds raised amounting to ₹149.49 crores:

• ⦁ ₹138.27 crores have been utilized during the quarter.

• ⦁ ₹0.26 crores was held at Rights issue allotment account (Escrow account) and will be transferred to the Monitoring account and will be utilized in the upcoming quarters.

• ⦁ ₹10.96 crores was held at Monitoring account and will be utilized in the upcoming quarters.

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

For Solara Active Pharma Sciences Limited

POOJA JAYA Digitally signed by POOJA JAYA KUMAR KUMAR Date: 2025.07.25 13:36:14 +05'30' Pooja Jaya Kumar Company Secretary & Compliance Officer Membership No: A57415

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636 Registered Office: 9[th ] Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22-2789 2924