Shah Investor's Home Limited

• Funding working capital requirements of our Company
• General corporate purposes

There are no outstanding criminal proceedings, statutory or regulatory penalties, disciplinary actions by SEBI or stock exchanges against the Promoters in the last five financial years, or outstanding claims related to direct and indirect taxes. There are no findings/observations of any inspections by SEBI or any other regulator involving the Company which are material. Any pending civil litigations/arbitration proceedings involving the Relevant Parties where the monetary impact is not quantifiable or does not exceed the Threshold (₹ 90.96 lakhs) are considered 'material' and shall be disclosed if the outcome could have a material adverse effect on the business, performance, prospects, operations, financial position or reputation of the Company. Pre-litigation notices received by any of the Relevant Parties from third parties (excluding those issued by governmental, statutory, tax or regulatory authorities or notices threatening criminal action) shall not be considered as outstanding litigation until such time that the Relevant Parties are impleaded as parties in the proceedings.

• A significant portion of our broking revenue is derived from the state of Gujarat (93.74%, 93.30% and 93.53% for Fiscals 2026, 2025 and 2024 respectively). Any decrease in revenues from western India, including due to increased competition, supply, or reduction in demand, or any significant disruption (social, political, economic, natural calamities, or civil disruptions) in these regions, may have an adverse effect on our business, cash flows, results of operations and financial condition.(Geographic Concentration)

• Our broking segment contributes 64.78%, 68.90%, and 71.60% of our revenue for the Fiscals 2026, 2025 and 2024, respectively. Any reduction in our revenue from the broking segment could have a material adverse effect on our business, results of operations, cash flows and financial condition.(Revenue Concentration)

• Our Brokerage Income is directly proportionate to the traded value and order size. The number of orders and trading volume are affected by external factors beyond our control, such as general macroeconomic conditions, monetary and taxation policies of the Government of India, prevailing market conditions, the regulatory framework, fluctuation in interest rates, and inflation.(Macroeconomic Sensitivity)

• Our brokerage fee levels are primarily driven by the competitive landscape. There is constant pressure on brokerage yields in the securities industry, especially as we have no exclusivity arrangements with clients, and products are standardised and offered online. If we face increased competition on brokerage fee levels, we may have to provide additional products and services and lower our brokerage fee to attract clients, which could adversely affect our Broking Segment.(Competition)

• We are subject to extensive statutory and regulatory requirements and supervision by authorities such as SEBI, MCX, AMFI, APMI, NSDL and the Stock Exchanges. Any failure to comply with applicable law or changes in the regulatory framework could result in action being initiated against us by relevant authorities, which may have a material adverse impact on our business, results of operations and financial condition.(Regulatory Compliance)

• We are subject to regulatory limits on brokerage fee rates and net worth requirements imposed by the exchanges.(Regulatory Compliance)

• If there is a significant decline in investor participation in equity markets, or if we are unable to maintain and grow our client base, particularly higher yield clients, or if our service levels are not up to client expectations, our Broking business could be adversely affected.(Client Base & Market Conditions)

• We cannot assure you that our initiatives to expand into new states (through marketing campaigns, opening new branches, creating a network of authorised persons, or referral schemes like 'Ezee Partner') will yield the expected growth or be successful.(Expansion Strategy)

• Shah Investor's Home Ltd.; - DRHP28 Sept 2026