FRONTCAP : OPEN OFFER FOR 26% STAKE WORTH OVER RS 4.4 CR

• Acquirers Mr. Prafful Agarwal and Mrs. Anupam Gupta to buy up to 43,58,163 shares (26% of voting capital) at ₹10.20/share • Total consideration assuming full acceptance ~₹4.45 Cr; escrow deposit of ₹1.12 Cr placed with Kotak Mahindra Bank • Underlying SPA dated October 13, 2026 covers 93,98,455 shares (56.07%) at ₹10/share, aggregating ~₹9.40 Cr • Post-offer holding seen at 82.07% if fully accepted; RBI approval required as Frontier Capital is an RBI-registered NBFC • Offer price is highest of SPA price ₹10 and 60-day VWAP of ₹10.18; no revision in price or size as on DPS date • Tendering period runs December 08, 2026 to December 21, 2026; acquirers propose to expand lending into loans against listed shares and property Impact: Neutral (Mandatory open offer at ₹10.20 follows a change of control via SPA, with only a marginal premium to the VWAP floor; stock remains under BSE graded surveillance Stage 3)

Frontier Capital Ltd

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