The Board of Directors (“Board”) have immense pleasure in presenting the 17^th Annual Report on the business and
operations of E2E Networks Limited (“the Company”), along with the Audited Financial Statements, for the financial
year ended on March 31,2026.

FINANCIAL SUMMARY OF OPERATIONS

The financial performance for the Financial Year ended March 31,2026 is summarized below:

The Revenue from operations of the Company for the year ended March 31, 2026, was Rs. 24,558.01 Lakhs
as compared to Rs. 16,396.08 Lakhs during the previous year ended March 31, 2025, indicating an increase in
revenue of 49.78%.

However, the Company reported a loss for the year under review of Rs. (1,556.59) Lakhs as compared to a profit of
Rs. 4,749.43 Lakhs for the previous year. The decline in profitability is primarily attributable to a significant increase
in depreciation expenses during the year.

During FY 2025-26, your Company continued to invest in enhancing capabilities of its public cloud platform focusing
on the increased requirements for AI/ML and DL workloads. The continued focus on customer success has yielded
an increase in revenue.

A detailed analysis of the financial results is given in the Management Discussion and Analysis Report, which forms
a part of this report.

Future Outlook

India is entering a transformative phase in AI-led digital infrastructure, with sovereign AI, accelerated computing and
cloud-native adoption emerging as key enablers of the digital economy. As enterprises, AI startups and research
institutions increasingly deploy AI workloads, demand for scalable AI infrastructure is expected to remain robust. E2E
Networks believes these structural trends create significant long-term opportunities for specialized AI infrastructure
providers.

The Company remains focused on strengthening its position as a sovereign AI cloud platform by expanding its
accelerated computing infrastructure and integrated AI platform capabilities. During FY2025-26, E2E significantly
expanded its AI infrastructure, with its live GPU fleet exceeding 5,100 GPUs as of June 30, 2026, including Blackwell-
based infrastructure.

Going forward, the Company intends to invest in AI infrastructure, cloud orchestration software and developer
platforms supporting AI training, fine-tuning, inference and deployment. Its software platforms are designed to
support the progression from experimentation to production-scale inference and increasingly agentic applications,
with a focus on performance, ease of use and cost efficiency.

The Company expects increasing demand for sovereign AI infrastructure from organisations requiring data control,
regulatory compliance and secure AI environments. E2E’s public cloud and sovereign/private AI offerings position it
to address evolving enterprise requirements.

Operational excellence, disciplined capital allocation and technology investment remain central to the Company’s
growth strategy. E2E will strengthen its engineering capabilities, strategic partnerships and customer experience
through reliable, high-performance cloud infrastructure.

Management’s experience across compute generations indicates that each generation of hardware can typically
sustain a 6-8 year useful life as it finds its own price-performance niche, supporting the long-term earning potential
of the Company’s infrastructure investments.

AI/ML and Cloud GPU Demand Drivers

The rapid adoption of Artificial Intelligence (AI) and Generative AI is reshaping cloud infrastructure requirements
across enterprises, AI-native startups and research institutions. Increasing demand for AI training, fine-tuning and
inference is driving the need for scalable, high-performance accelerated computing infrastructure.

The growing focus on sovereign AI, data control and regulatory compliance, together with increasing investment in AI
infrastructure, is creating opportunities for specialized cloud providers. As AI workloads move from experimentation
and training towards production inference and increasingly agentic applications, demand for compute, networking,
storage and supporting software is expected to grow.

E2E Networks’ Strategic Positioning

E2E Networks is strengthening its position as an Indian AI cloud infrastructure provider through investments in
accelerated computing infrastructure, cloud software and AI platforms. As of June 30, 2026, the Company’s live
GPU fleet exceeded 5,100 GPUs, including Blackwell-based infrastructure.

The Company’s integrated AI ecosystem, comprising accelerated computing infrastructure and software platforms,
enables customers to build, fine-tune, deploy and scale AI applications across model development, training and
inference. This integrated approach positions E2E to address the evolving requirements of AI developers and
enterprises.

Strategic Priorities

Looking ahead, the Company intends to focus on the following strategic priorities:

• Expand AI Infrastructure: Scale accelerated computing, networking and storage infrastructure to meet growing
demand for AI workloads, while evaluating evolving compute platforms.

• Strengthen AI Platforms: Enhance software platforms supporting model development, fine-tuning, deployment,
production-scale inference and increasingly agentic AI applications.

• Advance Sovereign AI Capabilities: Expand secure, compliant and data-control-focused AI infrastructure
through public cloud and sovereign/private cloud deployments.

• Develop Scalable Infrastructure: Deploy large-scale AI infrastructure and appropriate funding arrangements
while maintaining disciplined capital allocation.

• Strengthen Leadership and Execution: Invest in technology, engineering capabilities and strategic
partnerships to support innovation, operational excellence and long-term growth.

BRIEF DESCRIPTION OF THE STATE OF THE COMPANY’S AFFAIRS

Your Company is an Al-focused cloud infrastructure provider offering accelerated computing solutions for AI
workloads. The Company provides scalable cloud infrastructure and software platforms that enable customers to
build, train, fine-tune, deploy and scale AI applications.

The Company’s integrated AI ecosystem comprises GPU/CPU computing and software platforms, enabling
customers to access compute and software capabilities for training, fine-tuning, inference and production-scale AI
deployments. The Company serves Al-native startups, enterprises, developers and research institutions through
public cloud and sovereign/private cloud deployments.

The Company recorded strong operational momentum during the year, with Monthly Revenue Run-rate (MRR)
increasing from Rs.160 million in March 2025 to Rs. 374 million in March 2026, reflecting increased customer
adoption and utilisation of its AI cloud infrastructure.

Registered Office Address

During the year under review, the Registered Office of the Company was shifted, with effect from January 15, 2026,
from Awfis, First Floor, A-24/9, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi - 110044 to Uppal’s
Genesis, A-32, Block B, Mohan Cooperative Industrial Estate, Badarpur, New Delhi - 110044. The change in the
Registered Office was duly intimated to the Registrar of Companies and other relevant authorities, as applicable.

COMPANY’S WEBSITE

The Company’s website, https://www.e2enetworks.com , serves as a comprehensive source of information for
shareholders, investors and other stakeholders. It provides details of the Company’s business, products and
services, investor presentations, financial results, shareholding pattern, corporate governance framework, Board
of Directors and Key Managerial Personnel, Board Committees, corporate policies and other statutory disclosures.

The website is regularly updated and hosts all information required to be disclosed pursuant to the provisions of the
Companies Act, 2013 (“The Act”) and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
as amended (“SEBI Listing Regulations”) thereby facilitating timely dissemination of information to stakeholders.

CORPORATE GOVERNANCE

The Company remains committed to the highest standards of corporate governance and believes that sound
governance practices are fundamental to sustainable growth, stakeholder trust and long-term value creation. The
Company’s governance framework is built on the principles of integrity, transparency, accountability, fairness and
ethical business conduct.

The Board of Directors and the management continue to uphold their fiduciary responsibilities towards shareholders
and other stakeholders while ensuring compliance with applicable laws, regulations and governance standards.

A separate Report on Corporate Governance, together with the certificate issued by M/s. MAKS & Co., Company
Secretaries (FRN: P2018UP067700) confirming compliance with the requirements of Chapter IV of the SEBI
Listing Regulations, forms an integral part of this Annual Report.

DIVIDEND

In view of the Company’s continued investments towards expanding its AI infrastructure and strengthening its
technology platforms, the Board of Directors has considered it prudent to conserve financial resources for future
growth. Accordingly, the Board has not recommended any dividend on the Equity Shares of the Company for the
financial year ended March 31,2026.

Pursuant to Regulation 43A of the SEBI Listing Regulations, the Company falls within the top 1,000 listed entities
by market capitalization. Accordingly, the Board of Directors approved and adopted the Dividend Distribution Policy
on March 24, 2025. The Policy is available on the Company’s website at https://www.e2enetworks.com/investors/
corporate-governance.

TRANSFER TO RESERVES

In view of the loss incurred during the financial year ended March 31,2026, the Board of Directors has not transferred
any amount to reserves.

CHANGE IN THE NATURE OF BUSINESS

There is no change in the nature of the business of the Company during the year under review.

SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES

During the year under review, the Company did not have any subsidiary, joint venture, or associate company.
However, subsequent to the close of the financial year ended March 31,2026, the Company incorporated a wholly
owned subsidiary, namely Sovcloud Technologies Limited, on June 17, 2026.

PUBLIC DEPOSITS

During the year under review, your Company has neither invited nor accepted any fixed deposits from the public
within the meaning of Section 73 of the Act read with the Companies (Acceptance of Deposits) Rules, 2014 and
hence any provisions of the said section are not applicable to the Company.

SHARE CAPITALa. Authorized Capital

During the financial year 2025-26, Authorised Share capital of the company was increased from Rs. 25,00,00,000
(Rupees Twenty-Five Crore only) divided into 2,50,00,000 (Two Crore Fifty Lakh) equity shares of Rs. 10/- each
to Rs. 50,00,00,000 (Rupees Fifty Crore only) divided into 5,00,00,000 (Five Crore) equity shares of Rs. 10/-
each. The increase was approved by the shareholders of the Company by a resolution passed through postal
ballot on October 30, 2025.

As on March 31,2026, the authorized share capital of the Company was Rs. 50,00,00,000 (Rupees Fifty Crore
Only), divided into 5,00,00,000 (Five Crore) equity shares of Rs.10/- (Rupees Ten Only) each.

Subsequent to the close of the financial year and pursuant to the approval of the members through Postal Ballot
on May 21,2026, the equity shares of the Company having a face value of Rs.10/- each were sub-divided into
equity shares having a face value of Rs.1/- each. The sub-division became effective from the record date, i.e.,
June 5, 2026. Consequently, the authorized share capital of the Company stands reclassified into 50,00,00,000
(Fifty Crore) equity shares of Rs.1/- each, without any change in the aggregate authorized share capital.

b. Issued, subscribed and Paid-up Capital

During the financial year 2025-26, the issued, subscribed and paid-up equity share capital of the Company
underwent the following changes:

• May 7, 2025 - The Company allotted 4,200 equity shares pursuant to the exercise of stock options under
the E2E Networks Limited Employees Stock Option Scheme, 2018, resulting in an increase in the paid-up
share capital from Rs. 19,96,78,580 to Rs. 19,97,20,580.

• July 22, 2025 - The Company allotted 4,506 equity shares pursuant to the exercise of stock options under
the E2E Networks Limited Employees Stock Option Scheme, 2018, increasing the paid-up share capital to
Rs. 19,97,65,640.

• August 28, 2025 - The Company allotted 15,300 equity shares pursuant to the exercise of stock options
under the E2E Networks Limited Employees Stock Option Scheme, 2018, increasing the paid-up share
capital to Rs. 19,99,18,640.

• August 28, 2025 - The Company also allotted 1,09,025 equity shares to the E2E Networks Limited
Employees Welfare Trust under the E2E Networks Limited Employees Stock Option Scheme, 2021, resulting
in an increase in the paid-up share capital to Rs. 20,10,08,890.

• September 29, 2025 - The Company allotted 16,300 equity shares pursuant to the exercise of stock options
under the E2E Networks Limited Employees Stock Option Scheme, 2018, increasing the paid-up share
capital to Rs. 20,11,71,890.

• December 12, 2025 - The Company allotted 6,500 equity shares pursuant to the exercise of stock options
under the E2E Networks Limited Employees Stock Option Scheme, 2018, increasing the paid-up share
capital to Rs. 20,12,36,890.

• January 15, 2026 - The Company allotted 3,300 equity shares pursuant to the exercise of stock options
under the E2E Networks Limited Employees Stock Option Scheme, 2018, increasing the paid-up share
capital to Rs. 20,12,69,890.

• February 26, 2026 - The Company allotted 4,28,000 equity shares pursuant to the Qualified Institutions
Placement (QIP), resulting in an increase in the paid-up share capital to Rs. 20,55,49,890.

• March 31, 2026 - The Company allotted 1,500 equity shares pursuant to the exercise of stock options
under the E2E Networks Limited Employees Stock Option Scheme, 2018, increasing the paid-up share
capital to Rs. 20,55,64,890.

Accordingly, as on March 31, 2026, the issued, subscribed and paid-up equity share capital of the Company
stood at Rs. 20,55,64,890 (Rupees Twenty Crores Fifty-Five Lakhs Sixty-Four Thousand Eight Hundred Ninety
only), divided into 2,05,56,489 (Two Crore Five Lakhs Fifty-Six Thousand Four Hundred Eighty-Nine) equity
shares of face value Rs. 10 each.

Subsequent Changes after March 31, 2026

The following material events occurred subsequent to the close of the financial year ended March 31,2026 and
up to the date of this Report:

• Sub-division of Equity Shares: The Board of Directors at its meeting held on April 20, 2026 approved the
sub-division of each equity share of the Company having a face value of Rs. 10/- (Rupees Ten) into 10 (Ten)
equity shares having a face value of Re. 1/- (Rupees One) each which was approved by the shareholders
through postal ballot on May 21, 2026. Pursuant to the approval of the shareholders, the sub-division was
implemented in the ratio of 10:1, resulting in an increase in the number of issued equity shares of the
Company from 2,05,56,489 (Two Crore Five Lakhs Fifty-Six Thousand Four Hundred Eighty-Nine) equity
shares of Rs. 10/- each to 20,55,64,890 (Twenty Crore Fifty-Five Lakhs Sixty-Four Thousand Eight Hundred
Ninety) equity shares of Re. 1/- each.

• Listing on BSE Limited:. During the period under review, the Board of Directors of the Company on
March 10, 2026, approved the proposal for direct listing of the existing equity shares of the Company on
the Bombay Stock Exchange Limited (“BSE”). Subsequently, the equity shares of the Company were listed
and traded on BSE Limited w.e.f June 12, 2026, in addition to their existing listing on the National Stock
Exchange of India Limited.

c. Issue of equity shares with differential rights

Company has not issued any equity shares with differential rights during the year under review.

d. Issue of sweat equity shares

Company has not issued any sweat equity shares during the year under review.

e. Provision of money by Company for purchase of its own shares by employees or by trustees for the
benefit of employees

During the year under review, the Company has provided a loan to the ESOP Trust for the purpose of acquisition/
purchase of the Company’s shares for the benefit of its employees, in accordance with the applicable provisions
of law.

f. Employee Stock Option Plans/Schemes

The Employee Stock Option Scheme of the Company aims to give benefit to eligible employees with a view to
attract and retain the best talent, encourage employees to align individual performance with company objectives,
and promote their increased participation and involvement in the growth of the Company.

The Nomination and Remuneration Committee of the Board of Directors, inter alia administers and monitors the
Employee Stock Option Schemes of the Company i.e. E2E Networks Limited Employees Stock Option Scheme
2018 and E2E Networks Limited Employees Stock Option Scheme - 2021 in accordance with the Securities
and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (“SBEB
Regulations”).

During the year under review, the Board of Directors of the Company, based on the recommendation of the
Nomination and Remuneration Committee, approved certain amendments to the E2E Networks Limited
Employees Stock Option Scheme - 2021 (“ESOP Scheme 2021”) at its meeting held on August 28, 2025.
The said amendments were subsequently approved by the shareholders of the Company by way of a Special
Resolution passed at the Annual General Meeting held on September 26, 2025, in accordance with Regulation
7(1) of the SBEB Regulations.

The amendments were introduced with the objective of providing greater flexibility in the design and
administration of the Company’s long-term employee incentive framework, aligning the ESOP Scheme with
the evolving business requirements and market practices. The Board and the Nomination and Remuneration
Committee were satisfied that the amendments were fair, reasonable, and not prejudicial to the interests of the
eligible employees. The key amendments approved are set out below:

(i) Amendment to Clause 11.1 - Vesting Period: The maximum vesting period under the ESOP Scheme
2021 has been revised from 4 (Four) years to 7 (Seven) years from the grant date, while the minimum
vesting period of 1 (One) year remains unchanged. The Nomination and Remuneration Committee retains
the discretion to reduce the maximum vesting period on a case-to-case basis. This amendment is applicable
only to future grants of options under the ESOP Scheme 2021.

(ii) Amendment to Clause 12.2 - Exercise Period: The exercise period, which was earlier fixed at 2 (Two)
years from the date of respective vesting, has been revised to 2 (Two) years or such other period as may
be decided by the Nomination and Remuneration Committee on a case-to-case basis, in compliance with
applicable laws. This amendment is applicable to both existing grants as well as future grants of options
under the ESOP Scheme 2021.

The disclosures as required under Regulation 14 of SBEB Regulations, is available on website of the
Company at: https://www.e2enetworks.com/investors/employee-stock-options

The certificate from the Secretarial Auditors of the Company, that the Scheme has been implemented in
accordance with the SBEB Regulations and the resolutions passed by the members of the company, shall
be uploaded on the website of the Company i.e. https://www.e2enetworks.com/ and shall be available for
inspection by members in electronic mode during the Annual General Meeting of the Company.

CREDIT RATING

During the year under review, ICRA Limited assigned a long-term credit rating of [ICRA] A- (Stable) to the Company’s
bank facilities aggregating Rs. 1,000 crores. The Company continues to maintain a prudent financial management
approach and remains committed to sustaining a robust credit profile.

BOARD OF DIRECTORS

As on March 31,2026, the Company’s Board comprised 8 (eight) Directors, including 3 (Three) Executive Director,
2 (Two) Non-Executive Directors and 3 (Three) Independent Directors, including 1 (one) Independent Woman
Director. The details of the Directors, composition of various committees of the Board and other details are provided
in Corporate Governance Report, which forms part of the Annual Report.

The following changes took place in the composition of the Board of Directors during the financial year:

a) Appointment/Re-appointment of Directors

• Mr. Ashish Bhupendra Fafadia (DIN: 06663764) was appointed as an Additional Non-Executive,
Independent Director of the Company, with effect from August 28, 2025. His appointment was approved by
the shareholders of the Company in their meeting held on September 26,2025.

• Mr. Karthik Reddy Bezawada (DIN: 02214476) was appointed as an Additional Non-Executive, Independent
Director on the Board of the Company with effect from January 29, 2026, for a term of five consecutive
years, i.e., from January 29, 2026 to January 28, 2031. His appointment was approved by the shareholders
of the Company through a postal Ballot on April 27, 2026.

b) Cessation of Directors

• Mr. Naman Kailashprasad Sarawagi (DIN: 05295642) resigned from the position of Non-Executive,
Independent Director of the Company with effect from August 28, 2025.

• Mr. Ashish Bhupendra Fafadia (DIN: 06663764) resigned from the position of Non-Executive, Independent
Director of the Company with effect from January 29, 2026.

The Board and Management of the Company express their deep appreciation and gratitude for the contributions
made by Mr. Naman Kailashprasad Sarawagi and Mr. Ashish Bhupendra Fafadia during their tenure as the
Independent Directors of the Company. Both the independent directors have confirmed that that there are no
other material reasons for their resignation other than those provided in their resignation letter.

c) Retirement By Rotation

In accordance with the provisions of Section 152 of the Act and the Articles of Association of the Company, Ms.
Megha Raheja (DIN: 10855604), Whole-Time Director of the Company, is liable to retire by rotation at the 17th
Annual General Meeting (“AGM”) of the Company and, being eligible, offered herself for re-appointment.

Ms. Megha Raheja (DIN: 10855604) was appointed as a Whole-Time Director on the Board of the Company
with effect from December 4, 2024. Her appointment was subsequently approved by the shareholders of the
Company at their meeting held on January 4, 2025. Accordingly, she is liable to retire by rotation at the 17th
AGM and, being eligible, offered herself for re-appointment.

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee,
recommends the re-appointment of Ms. Megha Raheja as a Whole-Time Director, liable to retire by rotation, for
the approval of the Members. The resolution seeking approval of the Members for her re-appointment forms
part of the Notice convening the 17th AGM.

The brief Profile and other details of Ms. Megha Raheja, as required under Secretarial Standard-2 on General
Meetings issued by the Institute of Company Secretaries of India and Regulation 36 of the SEBI Listing
Regulations, are provided separately in the Notice convening the 17th AGM.

d) Independent Directors

The Board has 3 (Three) Independent Directors including 1 woman Independent Director, representing
diversified fields and expertise. Details are provided in the relevant section of the Corporate Governance
Report. All Independent Directors have registered themselves with the Indian Institute of Corporate Affairs for
the inclusion of their name in the data bank of independent directors, pursuant to the provision of Rule 6 (1) of
Companies (Appointment and Qualification of Directors) Rules, 2014.

Further, as stipulated under the Regulation 17(10) and 19 read with Schedules thereto of SEBI Listing Regulations,
an evaluation exercise of Independent Directors was conducted by the Nomination and Remuneration Committee
and the Board of the Company. The Board members satisfied themselves with the performance and contribution
of all the Independent Directors.

The Board is of the opinion that the Independent Director of the Company are independent of management
and possess requisite qualifications, experience and expertise (including the proficiency) and holds highest
standards of integrity.

None of the aforesaid Directors are disqualified under Section 164(2) of the Act. Further, they are not debarred
from holding the office of Director pursuant to any order of SEBI or any other authority.

e) Declaration by Independent Directors

Independent Directors have submitted their declaration of independence, stating that:

(i) they continue to fulfil the criteria of independence as required pursuant to section 149(6) read with schedule
IV of the Act and regulation 16(1)(b) of the SEBI Listing Regulations;

(ii) they have confirmed that they are not aware of any circumstances or situation which exist or may be
anticipated, that could impair or impact their ability to discharge their duties in terms of regulation 25(8) of
the SEBI Listing Regulations with an objective independent judgement and without any external influence
and that they are independent of the Management;

(iii) they are not debarred from holding the office of Director pursuant to any SEBI order or order of any such
authority;

(iv) there has been no change in the circumstances affecting their status as Independent Director of the
Company.

(v) they have complied with code of conduct for independent directors as prescribed in schedule IV to the Act;
and

(vi) they have complied with the Company’s Code of Conduct.

f) Changes in Key Managerial Personnel (“KMP”)

Pursuant to the provisions of Section 2(51) and 203 of the Act, the following were the KMP of the Company as
on March 31,2026:

• Mr. Tarun Dua, Managing Director (DIN: 02696789)

• Ms. Srishti Baweja, Whole-Time Director (DIN: 08057000)

• Ms. Megha Raheja, Whole-Time Director (DIN: 10855604)^A

• Mr. Ronit, Company Secretary & Compliance Officer

• Mr. Nitin Jain, Chief Financial Officer¹

ADuring the financial year 2025-26, Ms. Megha Raheja resigned from the position of Chief Financial Officer of
the company with effect from April 17, 2025. However, she continues to serve as the Whole-Time Director of the
Company.

*During the financial year 2025-26, Mr. Nitin Jain was appointed as the Chief Financial Officer of the company
with effect from April 18, 2025.

g) Performance Evaluation of Board, Committees and Directors

One of the key responsibilities and role endowed on the Board is to monitor and evaluate the performance of
the Board, Committees and Directors.

Accordingly, in line with applicable provisions of the Act and SEBI Listing Regulations, the annual performance
evaluation of the Board as a whole, Committees and all the Directors was conducted, as per the internally
designed evaluation process approved by the Nomination and Remuneration Committee. The evaluation tested
key areas of the Board’s work including strategy, business performance, risk and governance processes. The
evaluation considers the balance of skills, experience, independence and knowledge of the management and
the Board, its overall diversity, and analysis of the Board and its Directors’ functioning.

The evaluation methodology involves discussion on questionnaires consisting of certain parameters such as
Evaluation factor, Ratings and Comments, if any.

The performance of entire Board is evaluated by all the Directors based on Board composition and quality,
Board meetings and procedures, Board development, Board strategy and risk management, etc.

The performance of the Managing Director and Executive Directors is evaluated by all the Board Members
based on factors such as leadership, strategy formulation, strategy execution, external relations, etc.

The performance of Non-Executive Director and Independent Directors is evaluated by other Board Members
based on criteria like managing relationship, Knowledge and skill, personal attributes, etc.

It also involves self-assessment by all the Directors and evaluation of Committees of Board based on Knowledge,
diligence and participation, leadership team and management relations, committee meetings and procedures
respectively.

Further, the assessment of Board Chairman performance is done by each Board Member on similar qualitative
parameters.

The feedback of the evaluation exercise and inputs of Directors are collated and presented to the Board and an
action plan to further improve the effectiveness and efficiency of the Board and Committees is placed.

The Board as a whole together with each of its committees was working effectively in performance of its key
functions - Providing strategic guidance to the Company, reviewing and guiding business plans, ensuring effective
monitoring of the management and overseeing risk management function. The Board is kept well informed at
all times through regular communication and meets once per quarter and more often as and when need arises.
Comprehensive agendas are sent to all the Board Members and ensure the meetings are productive. The
Company makes consistent efforts to familiarize the Board with the overall business performance spanning
Business, Product Category and Corporate Function as well as relevant legal and regulatory updates applicable
to the Company.

The performance of the Chairman was evaluated as satisfactory in the effective and efficient discharge of his
roles and responsibilities relating to the day-to-day management of the business, in line with the company’s
strategy and long-term objectives. It was acknowledged that the management provided the Board with sufficient
insight and kept it well informed of the key business developments, an essential input enabling individual
Directors to maintain and enhance their effectiveness.

h) Separate Meeting of Independent Directors

In accordance with Section 149 (7) of the Act read with Para VII (1) of Schedule IV of the Act and Regulation
25 of SEBI Listing Regulations, a separate Meeting of the Independent Directors of the Company was held on
March 18, 2026, without the presence of Non- Independent Directors and Members of the management.

The Independent Directors at the meeting, inter alia, reviewed the following: -

• Performance of Non-Independent Directors and Board as a whole.

• Performance of the Chairman of the Company, taking into account the views of Executive Directors and
Non-Executive Directors. ¹

The Nomination and Remuneration Policy is available on the Company’s website and can be accessed at the
following link: https://www.e2enetworks.com/investors/corporate-governance

j) Code of Conduct for Directors and Senior Management

The Company has formulated a Code of Conduct for Directors and Senior Management Personnel and has
complied with all the requirements mentioned in the aforesaid code. An affirmation on the same duly signed by
the Managing Director of the Company forms part of the Corporate Governance Report.

k) Familiarization Programme

Pursuant to regulation 25 of the SEBI Listing Regulations, the Company provides orientation and business
overview to its independent Directors by way of detailed presentation. Such meetings/programs include
briefings on the Company and its business, Executive Team, business model, applicable amendments in the
Compliance, the roles and responsibilities of Independent Directors.

The details of such Familiarization Program for Independent Directors are posted on the website of the Company
and the web link of the same is provided hereunder:

https://www.e2enetworks.com/investors/details-of-familiarization-program-held-for independent-directors

l) Succession Planning

The Company has in place the orderly succession plan for the appointments at the Board and Senior Management
level.

m) Annual Secretarial Compliance Report

In accordance with Regulation 24A(2) of the SEBI Listing Regulations, all listed entities are required to obtain an
Annual Secretarial Compliance Report from a Practicing Company Secretary (PCS), confirming compliance with
applicable SEBI Regulations, circulars, and guidelines. This report must be submitted to the Stock Exchanges
within 60 days from the end of the financial year.

The Company engaged the services of M/s. MAKS & Co., Company Secretaries (FRN: P2018UP067700), the
Secretarial Auditor of the Company, to conduct the required compliance check and issue the Annual Secretarial
Compliance Report.

The Company has duly complied with the above requirements, and the Annual Secretarial Compliance Report
for the Financial Year ended March 31, 2026 was submitted to the Stock Exchanges within the prescribed
timelines.

The Report is also available on the Company’s website and can be accessed at the following link:
https://www.e2enetworks.com/investors/secretarial-compliance

STATUTORY DISCLOSURES

None of the Directors of your Company are disqualified as per provision of Section 164(2) of the Act. The Directors
of the Company have made necessary disclosures as required under various provisions of the Act and the SEBI
Listing Regulations.

BOARD MEETINGS

During the financial year 2025-26, the Board met 7 (Seven) times on April 17, 2025, July 22, 2025, August 28, 2025,
September 29, 2025, November 11, 2025, January 15, 2026 and March 31, 2026. The intervening gap between
the two consecutive Board meetings was within the period prescribed under the provisions of section 173 of the Act
and regulation 17 of the SEBI Listing Regulations.

Details regarding the number of Board meetings held during the year, along with the attendance of each Director
and their presence at the Annual General Meeting held on September 26, 2025, are provided in the Corporate
Governance Report, which forms an integral part of this Annual Report.

BOARD COMMITTEES

The Board Committees play a vital role in strengthening the Corporate Governance practices of the Company and
focus effectively on the issues and ensure expedient resolution of the diverse matters. The Committees also make
specific recommendations to the Board on various matters as and when required. All observations, recommendations
and decisions of the Committees are placed before the Board for information, noting or approval.

The Company has following Committees, in terms of the Act and the SEBI Listing Regulations: -

a. Audit Committee

b. Nomination and Remuneration Committee

c. Stakeholders Relationship Committee

d. Corporate Social Responsibility Committee

e. Borrowing Committee

f. Risk Management Committee (w.e.f. from April 1,2025)

g. Fund Raise Committee

The Composition, terms of reference and number of meetings of the aforementioned Committees during FY 2025¬
26 and the attendance of each Director in the Committee Meetings are provided in Corporate Governance Report
which forms integral part of this Report.

FINANCIAL STATEMENTS

The Financial Statements for the year ended March 31, 2026 have been prepared in accordance with the Indian
Accounting Standards (Ind AS) issued by the Institute of Chartered Accountants of India, as prescribed under
Section 133 of the Act, read with the relevant rules made thereunder, and in compliance with Regulation 33 of the
SEBI Listing Regulations.

The estimates and judgments applied in the preparation of these financial statements have been made on a prudent
and reasonable basis, ensuring that the financial statements present a true and fair view of the Company’s financial
position as on March 31,2026, and of its financial performance and cash flows for the year then ended.

STATUTORY AUDITORS

Pursuant to the provisions of Section 139 of the Act read with the applicable rules made thereunder, M/s. GSA &
Associates LLP, Chartered Accountants (Firm Registration No. 000257N), were appointed as the Statutory Auditors
of the Company at the Annual General Meeting held on August 24, 2022, for a term of five years, i.e., from the
Financial Year 2022-23 to 2026-27, to hold office until the conclusion of the AGM to be held in the year 2027.

The Audit Report issued by M/s. GSA & Associates LLP on the financial statements for the financial year ended
March 31,2026, forms part of this Annual Report. The observations made in the Auditors’ Report are self-explanatory
and do not call for any further comments. The Auditors’ Report does not contain any qualification, reservation, or
adverse remark.

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Act read with Rule 9 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the SEBI Listing Regulations, the
Members at the 16th Annual General Meeting had approved the appointment of M/s. MAKS & CO., Company
Secretaries [FRN: P2018UP067700 and Peer Review Certificate No.: 2064/2022] as the Secretarial Auditors of the
Company for a term of 5 (Five) consecutive years from FY 2025-26 till FY 2029-30.

The Secretarial Auditors have confirmed that they hold a valid peer review certificate issued by the Peer Review
Board of the Institute of Company Secretaries of India and continue to satisfy the eligibility criteria for the said
appointment.

The Secretarial Audit Report issued by Secretarial Auditors of the Company i.e M/s. MAKS & Co., Practicing
Company Secretaries for the Financial Year 2025- 26, is annexed herewith as Annexure - A forming part of this
Board Report. The Secretarial Audit Report does not contain any qualification, reservation or disclaimer or adverse
remark.

INTERNAL AUDITORS

During the year under review, M/s. VPS & Co., Chartered Accountants (FRN: 016396C), resigned as the Internal
Auditors of the Company vide their letter dated January 15, 2026, citing pre-occupation and other professional
commitments.

Subsequently, pursuant to the provisions of Section 138 of the Act read with Rule 13 of the Companies (Accounts)
Rules, 2014 and Regulation 18 of the SEBI Listing Regulations, the Board of Directors, based on the recommendations
of the Audit Committee, at its meeting held on January 15, 2026, approved the appointment of M/s. SCV & Co. LLP,
Chartered Accountants (FRN: 000235N/N00089), as the Internal Auditors of the Company from October 1,2025.

The Internal Auditors have confirmed their eligibility and report directly to the Audit Committee, to whom they present
their audit observations periodically for strengthening the Company’s internal control systems, risk management
framework and governance processes.

The Internal Audit function is governed by an Internal Audit scope approved by the Audit Committee, setting
out its scope, independence, authority and reporting structure. The Internal Auditors operate independently of
management, report directly to the Audit Committee, and are responsible for evaluating the adequacy of internal
financial controls, compliance with applicable laws and internal policies, the risk management framework, and the
reliability of financial and operational information, besides recommending measures to strengthen internal controls
and governance processes.

Audits are conducted as per an annual internal audit plan aligned with the Company’s risk profile and approved
by the Audit Committee. The Internal Auditors regularly participate in Audit Committee meetings, where periodic
exception reports are presented on key audit findings and status of corrective actions.

MAINTENANCE OF COST RECORDS

The maintenance of Cost Records as specified by the Central Government under Section 148(1) of the Act is not
applicable to the Company as the business activities of the company does not fall under any of the categories
prescribed under Section 148(1) of the Act.

REPORT ON FRAUDS U/S 143 (12) OF THE COMPANIES ACT, 2013

During the year under review, the Statutory Auditors and the Secretarial Auditor have not reported any instances of
frauds committed in the Company by its Officers or Employees to the Audit Committee under Section 143(12) of the
Act. Therefore no detail is required to be disclosed under Section 134(3)(ca) of the Act.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

During the financial year ended March 31,2026, no loan, guarantee and investment was made by the Company in
terms of Section 186 of the Act and rules made there under.

MATERIAL CHANGES AND COMMITMENTS AFTER THE END OF FINANCIAL YEAR

Except as disclosed elsewhere in the Annual Report, no material changes and commitments affecting the financial
position of the Company have occurred between the end of the financial year 2025-26 and till the date of signing
of this Report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

Even though operations of the Company are not energy intensive, the management has been highly conscious of
the importance of conservation of energy and technology absorption at all operational levels and efforts are made
in this direction on a continuous basis. In view of the nature of activities which are being carried on by the Company,
the particulars as prescribed under Section 134(3)(m) of the Act, read with rule 8 of the Companies (Accounts)

Rules, 2014 regarding Conservation of Energy and Technology Absorption are not applicable to the Company and
hence have not been provided.

The Company has incurred expenditure of Rs. 702.26 Lakhs (previous year Rs. 362.62 Lakhs) in foreign exchange
and earned Rs 9484.91 Lakhs (previous year Rs. 4,475.50 Lakh) in foreign exchange during the year under review.

INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

During the year under review, the provision of section 125(2) of the Act does not apply as the company was not
required to transfer any amount to the Investor Education and Protection Fund (‘IEPF’) established by the Central
Government of India. The Company has designated the Company Secretary as ‘Nodal Officer’ for the purposes of
IEPF related matters.

TRANSFER OF UNCLAIMED DIVIDEND AND UNCLAIMED SHARES

The provisions relating to the transfer of unpaid/unclaimed dividends to the IEPF are not applicable to the Company.
Similarly, the Company does not have any Equity shares lying in the Demat Suspense/Unclaimed Suspense
Account. Therefore, the need to transfer unclaimed dividend and unclaimed shares to the IEPF did not arise during
the financial year under review

SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS OR COURTS

During the year under review, there were no significant and material orders passed by regulators or courts or
tribunals impacting the going concern status and company’s operation in future.

ANNUAL RETURN

The Annual Return of the Company in form MGT-7, for FY 2025-26 as required under Section 92(3) and Section
134(3)(9) of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014, is available
on the website of the Company at https://www.e2enetworks.com/investors/annual-returns

RISK MANAGEMENT

The Company has formulated and implemented a Risk Management Policy to identify, assess, and mitigate
risks associated with its business operations. A structured risk management framework is in place, involving the
identification, analysis, and evaluation of potential risks, assessment of their likely impact, formulation of appropriate
mitigation strategies, and implementation of necessary control measures.

While it is not possible to eliminate all risks entirely, the Company continuously strives to minimize their impact on
its operations through proactive risk monitoring and mitigation.

In accordance with Regulation 21 of the SEBI Listing Regulations, and being among the top 1000 listed entities
by market capitalization as on December 31, 2024, the Board approved the constitution of a Risk Management
Committee, with the constitution becoming effective from April 1, 2025. The composition and functioning of the
Committee are in compliance with the applicable provisions of the SEBI Listing Regulations.

INTERNAL CONTROL SYSTEMS INCLUDING INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY

The Company has put in place an adequate Internal Control System, commensurate with size, scale and complexity
of its operations. They have been designed to provide reasonable assurance with regard to recording and providing
reliable financial and operational information, complying with applicable statutes, safeguarding assets from
unauthorized use, executing transactions with proper authorization and ensuring compliance of corporate policies.

During the year under review, no material or serious observation has been highlighted by the auditors for inefficiency
or inadequacy of such controls.

CORPORATE SOCIAL RESPONSIBILITY

In compliance with the provisions of Section 135 of the Act read with the Companies (Corporate Social Responsibility
Policy) Rules, 2014 (‘CSR Policy Rules’), as amended from time to time, the Company has duly constituted a
Corporate Social Responsibility (‘CSR’) Committee. The composition and terms of reference of the CSR Committee
are provided in the Corporate Governance Report, which forms part of this Annual Report.

The CSR Committee has formulated and recommended a CSR Policy to the Board, outlining the key focus areas,
guiding principles, and framework for the selection, implementation, and monitoring of CSR projects and activities.
The said policy has been duly approved by the Board of Directors.

The CSR Policy is available on the Company’s website and can be accessed at the following link:

https://global-uploads.webflow.com/6473d8d02a3cf26273f27856/6473d8d02a3cf26273f27a66 Corporate-Social-
Responsibility-Policy.pdf

In accordance with the provisions of Section 135 of the Act and the CSR Policy Rules, the Company was required
to spend Rs. 71,33,936 towards CSR activities during the financial year 2025-26, based on the average net profits
of the preceding three financial years.

During the year, the Company spent a total amount of Rs. 90,43,270 on CSR initiatives, in alignment with its CSR
Policy, primarily focused on promoting education and enhancing vocational skills. Out of the total amount spent:

• Rs. 34,53,552 was adjusted towards the excess CSR expenditure carried forward from the previous year FY
2024-25.

• Rs. 36,80,384 was applied towards fulfilling the current year’s CSR obligation (FY 2025-26).

As a result, a fresh surplus CSR expenditure of Rs. 53,62,886 has been generated during FY 2025-26, which can
be set off against CSR obligations for the next three financial years in accordance with applicable provisions.

The summary of CSR obligations and expenditure for the last two financial years is as follows:

*Net surplus carried forward for future set-off: Rs. 53,62,886, after adjusting the previous years carried forward
surplus of Rs. 34,53,552.

The Annual Report on CSR activities of the Company for the year under review, in the prescribed format, as
required under Sections 134 and 135 of the Act read with Rule 8 of the CSR Policy Rules, as amended, and Rule 9
of the Companies (Accounts) Rules, 2014 has been attached as Annexure - B and forms part of this Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As stipulated under the provisions of Regulation 34 of the SEBI Listing Regulations, Management Discussion &
Analysis Report is presented in a separate section forming part of Annual Report and provides details on overall
Industry Structure and Developments, financial and operational performance and other material developments
during financial year under review.

PARTICULARS OF REMUNERATION OF DIRECTORS AND OTHER EMPLOYEES

Disclosure pertaining to remuneration and other details as required under Section 197(12) read with Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in the Annexure-
C to this report.

In accordance with the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, a statement showing the
name and other particulars of the employees drawing remuneration in excess of the limits set out in the said Rule
forms part of this report.

In terms of Section 136 of the Act, the Report and Accounts are being sent to the Members of the Company excluding
information on employees’ particulars which is available for inspection by the Members at the Registered Office
of the Company during the business hours on working days of the Company up to the date of the ensuing Annual
General Meeting. If any Member is interested in obtaining such information, he/she may write to the Company
Secretary at the Corporate Office of the Company.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has established a Vigil Mechanism named Whistle Blower Policy, for Directors, employees and
business associates to report to the Management, concerns about unethical behaviour, actual or suspected fraud or
violation of the Company’s Code of Conduct or ethics, in accordance with the provisions of Section 177 (10) of the
Act and Regulation 22 of the SEBI Listing Regulations. This mechanism provides for adequate safeguards against
unfair treatment of whistle blower who wishes to raise a concern and also provides for direct access to the Chairman
of the Audit committee in appropriate/exceptional cases.

The Audit Committee periodically reviews the functioning and effectiveness of the vigil mechanism,
including the status of complaints received, investigations conducted, actions taken and closure thereof.
The Whistle Blower Policy is available on the website of the Company https://global-uploads.webflow.
com/6473d8d02a3cf26273f27856/6473d8d02a3cf26273f27a3c_Whistle-Blower-Policy.pdf

During the year under review, no incidence under the above mechanism was reported.

CODE OF CONDUCT TO REGULATE, MONITOR AND REPORT TRADING BY DESIGNATED PERSONS (CODE
OF CONDUCT)

The Company has adopted a Code of Conduct to regulate, monitor and report trading by Designated Persons
[Pursuant to Regulation 9 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,
2015]. This Code of Conduct is intended to prevent misuse of Unpublished Price Sensitive Information (“UPSI”) by
Designated Persons and their immediate relatives.

The said Code lays down guidelines, which advise Designated Persons and Insiders on the procedures to be
followed and disclosures to be made in dealing with the shares of the Company and cautions them on consequences
of non-compliances. This Code includes a Policy and Procedure for Inquiry in case of leakage of UPSI or suspected
leakage of UPSI and is available for reference on the website of the Company i.e. https://cdn.prod.website-files.
com/6473d8d02a3cf26273f27856/6473d8d02a3cf26273f27890 Code-of-Conduct-for-Prevention-of-Insider-
Trading.pdf

RELATED PARTY TRANSACTIONS

The Board of Directors accords the highest importance to good governance and maintaining the confidence and
trust of all stakeholders. In line with this commitment and to ensure transparency in transactions that may involve
potential conflicts of interest, the Company has adopted a well-defined Related Party Transactions (RPT) Policy.
This policy outlines the framework for identifying, reviewing, and approving related party transactions. The Audit
Committee of the Board plays a key oversight role in reviewing and monitoring such transactions to ensure they are
in compliance with applicable laws and governance standards.

During the financial year 2025-26, all related party transactions entered into by the Company were in the ordinary
course of business and conducted on an arm’s length basis. These transactions were reviewed and approved by
the Audit Committee, which also granted prior approval for the estimated related party transactions for the financial
year 2025-26, in accordance with applicable legal provisions. The Board confirms that none of the related party
transactions undertaken during the year involved any conflict of interest or were of a material nature as defined
under the Company’s RPT Policy.

Accordingly, the requirement to disclose related party transactions in Form AOC-2 under the Companies Act, 2013
is not applicable for the year under review.

The updated RPT Policy is available on the Company’s website and can be accessed through the following link:
https://e2e-mainsite-ui.obiectstore.e2enetworks.net/Govemance/Signiticant Policies/Policy on Related Party
Transactions.pdf

Further, the disclosures required under Indian Accounting Standard (Ind AS) 24 - Related Party Disclosures

have been provided in Note No. 36 of the Standalone Financial Statements, which form part of this Annual Report.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Act, (including any statutory moditication(s) and/or re-enactment(s) thereof for the
time being in force), your directors state that:

a) in the preparation of the annual accounts for the period under review, the applicable accounting standards had
been followed and no material departures have been made from the same;

b) the Directors had selected Appropriate accounting policies have been selected and applied consistently and
judgements and estimates that are reasonable and prudent have been made, so as to give a true and fair view
of the state of affairs of the Company as at the end of tinancial year and of the loss of the Company for that
period;

c) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;

d) the Directors had prepared the annual accounts on a going concern basis;

e) the Directors had laid down internal financial controls to be followed by the Company and that such internal
financial controls are adequate and were operating effectively;

f) the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and
that such systems were adequate and operating effectively.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

Company is committed to providing all employees a safe, respectful and inclusive workplace. The Prevention
of Sexual Harassment (POSH) Policy aligns with the Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act, 2013, ensuring a work environment free from harassment. The Policy for Protection
of Women’s Rights at Workplace has been formulated to guide the Company in redressing sexual harassment-
related complaints. This policy is based on the laws of India and applicable to all its establishments located in
India, encompassing all employees, and contract workers. This policy also protects anyone visiting the Company’s
establishments, including clients, customers, third-party contractors, vendors, suppliers, business representatives,
and others.

The policy on Prevention of Sexual Harassment at Workplace in place is available on the Company’s website and
can be accessed through the following link:

https://global-uploads.webflow.com/6473d8d02a3cf26273f27856/6473d8d02a3cf26273f27a38 Sexual-
Harassment-of-Women-at-Workplace.pdf

The Company has constituted Internal Committee as per the sexual Harassment of Women & workplace (Prevention,
Prohibition and Redressal) Act, 2013.

The summary of complaints received and disposed of during the year under review:

(a) number of complaints of sexual harassment received in the year - Nil

(b) number of complaints disposed of during the year - N.A.

(c) number of cases pending for more than ninety days - Nil

MATERNITY BENEFIT ACT

In compliance with the Maternity Benefit Act, 1961 and applicable provisions of the Act, the Company continues
to uphold its commitment to supporting the health and well-being of women employees during maternity. Eligible
women employees are entitled to maternity leave benefits, including paid leave of up to 26 weeks for the first two
children, in line with statutory requirements.

The Company also provides additional support measures such as flexible work arrangements, extended unpaid
leave (where applicable), and access to medical consultation and counseling services to ensure a smooth transition
during and after the maternity period.

GENDER-WISE COMPOSITION OF EMPLOYEES

In alignment with the principles of diversity, equity, and inclusion (DEI), the Company discloses below the gender
composition of its workforce as on the March 31,2026:

Male Employees: 175

Female Employees: 32

Transgender Employees: 0

COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETING

During the period under review, the Company has complied with applicable Secretarial Standards issued by the
Institute of Company Secretaries of India on Board and General Meetings.

ANY PROCEEDINGS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

There are no proceedings initiated/pending against your Company under the Insolvency and Bankruptcy Code,
2016.

VALUATION FOR ONE TIME SETTLEMENT OR WHILE TAKING THE LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS

There were no instances during the period under review where your Company required the valuation for one time
settlement or while taking the loan from the Banks or Financial institutions.

DOWNSTREAM INVESTMENT

During the period under review, the Company does not have any downstream foreign investment.

HUMAN RESOURCE MANAGEMENT

At E2E, we firmly believe that our people are our greatest strength and the cornerstone of our continued growth
and innovation. The Company remains committed to fostering a people-first culture that nurtures talent, encourages
collaboration, and promotes holistic employee development. Recognizing that a motivated and skilled workforce is
integral to sustained business success, E2E continues to invest significantly in learning and development, leadership
enhancement, and skill-building initiatives tailored to evolving industry demands.

The Company is dedicated to creating an inclusive, safe, and empowering workplace, where employees are inspired
to perform at their best. Our human resource policies are designed to promote a culture of trust, transparency, and
meritocracy, with a strong emphasis on diversity, equity, and employee well-being. We encourage a performance-
driven environment that values teamwork, innovation, and accountability.

Through structured career progression frameworks, continuous feedback mechanisms, and recognition programs,
E2E actively supports the professional and personal growth of its employees. Our focus remains on attracting,
developing, and retaining top talent, while reinforcing a high-performance, values-driven organizational culture that
aligns with the Company’s long-term strategic objectives.

Cautionary Statement

This Report, including the Management Discussion and Analysis, may contain certain statements that are or may
be deemed to be “forward-looking statements” within the meaning of applicable laws and regulations.

These statements reflect the Company’s current expectations regarding future events and operating performance.
However, actual results may differ materially from those expressed or implied due to various risks and uncertainties.

Key factors that could affect the Company’s operations include, but are not limited to, changes in economic conditions
impacting demand and supply, fluctuations in domestic and global market prices, modifications in applicable laws
and regulations, including taxation and governmental policies, and other incidental factors.

The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.

ACKNOWLEDGEMENT

The Board of Directors places on record its sincere appreciation and gratitude for the unwavering support,
commitment, and cooperation received from all stakeholders of the Company. The Directors extend their heartfelt
thanks to the employees for their dedication and hard work, to the customers for their continued trust, to the vendors
and bankers for their dependable support, and to the government and regulatory authorities for their guidance.
The Board also acknowledges the enduring faith and confidence reposed by the shareholders, which continues to
inspire the Company in its journey of sustained growth and value creation.

On behalf of the Board of DirectorsSd/- Sd/-

Tarun Dua Srishti Baweja

Place: New Delhi Managing Director Whole Time Director

Date: August 31,2026 DIN:02696789 DIN:0805700

1

Assessed the quality, quantity and timeliness of flow of information between the Company, Management
and the Board, that is necessary for the Board to effectively and reasonably perform their duties.

i) Nomination and Remuneration Policy

In accordance with the provisions of Section 178(1) of the Act and Regulation 19(4) read with Part D of Schedule
II of the SEBI Listing Regulations, the Company has formulated a Nomination and Remuneration Policy. This
policy outlines the criteria for appointment and remuneration of Directors, Key Managerial Personnel (KMP),
and other employees, including qualifications, positive attributes, independence of Directors, and other matters
as specified under Section 178(3) of the Act. Details of the Policy are provided in the Corporate Governance
Report which forms integral part of the Annual Report.