Zen Technologies Ltd. — Capital/Financing Update 2022

May 7, 2022

Statement of Deviation I Variation in utilisation of funds raised
Name of listed entity	Zen Technologies Limited Preferential Issue of convertible warrants & compulsory convertible debentures
Mode of Fund Raising
Date of'Raisina Funds	25th November 2021
Amount Raised (in Rs. Lakhs)	8,907.73
Report filed for Quarter ended	31st March 2022
Monitoring Agency	Not Applicable
Monitorinz Agency Name, if applicable	Not Applicable
ls there a Deviation I Variation in use of funds raised	No
[fyes, whether the same is pursuant to change in terms of a Not Applicable contract or objects, which was approved by the shareholders
ff Yes, Date of shareholder Approval	Not Applicable
Exolanation for the Deviation I Variation	Not Applicable
Comments of the Audit Committee after review	None
Comments of the auditors, if any	None

Ob iects for which funds have been raised and where there has been a deviation, in the following table Original Object	Modified Object, if any	Original Allocation (in Rs. allocation, Lakhs)	Modified if any	Rs. In Lakhs)	Amount of Funds Utilised (in DeviationN ariation for Remarks if the quarter according to any annlicable obiect
The proceeds of the preferential issue shall be utilized to meet the Annual Business Plans of the Company, research and development (R&D), potential acquisitions, export and business promotion, working capital, capital expenditure, exploring new initiatives and for other general corporate purposes.	Not Applicable	8,907.73 Not	Applicable	3,388.61 None		No Deviations or Variations
Deviation or variation could mean:
(a) Deviation in the objects or ourooses 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 ~

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Date - 07th May 2022 Place - Hyderabad